London auction house Fellows has set a new house record for a vintage Rolex in its November Watch Sale, with a Rolex Oyster Perpetual Milgauss from 1958 selling for a hammer price of £110,000.
Although there was a bit of wear to the item, this didn’t stop enthusiastic bidders throwing their hats into the ring, bidding on the phone, in the room and on the internet.
Watch specialist Steven Yambo said, “This is a stunning result for the watch. We’re delighted that we could do so well for our clients.” Asked why the watch sold for so much money, Yambo replied, “It is very rare to find a Rolex Milgauss nowadays. This is the first one we have had for sale, hopefully it’s not the last!”
About the Rolex Milgauss
The name Milgauss is derived from mille, one-thousand, and gauss, the unit of a magnetic field. This model is so named because it can withstand a magnetic flux density of 1,000 gauss. The Milgauss is known for its unique lightning bolt seconds hand and Milgauss Bezel.
The Milgauss was designed as an antimagnetic watch specifically for those who worked in power plants, medical facilities and research labs (like CERN in Geneva) where electromagnetic fields can cause havoc with the timing of a watch.
This model was the first Rolex watch to shield a movement from magnetic fields. The honeycomb dial is made from laminated copper which protects the movement from magnetic fields.
Reference 6541, serial 412219. Signed automatic calibre 1066. Black ‘honeycomb’ dial with dot hour markers, quarterly arrowhead hour markers. Fitted to a signed stainless-steel Oyster bracelet with Oysterclasp. 37mm.