A Rare Rainbow Jewel-Encrusted Rolex Is Up for Auction—and Bids Are Climbing Fast - The Texas Developer

A Rare Rainbow Jewel-Encrusted Rolex Is Up for Auction—and Bids Are Climbing Fast

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A number of serious watch collectors are chasing a rainbow Rolex at Sotheby’s.

The rare technicolor Day-Date, which is part of the auction house’s February Fine Watches sale, has sparked a six-figure bidding war on account of its brightly hued design—further proof that rainbow watches are still a hot commodity. With around four days left on the auction, the wrist candy has already eclipsed its high estimate of £250,000 (approximately $338,700 at the current exchange rate) and is sitting at £380,000 ($515,000) at the time of this writing.

The rarity in question, Ref. 18059, is one of five that were made especially for Sultan Qaboos bin Said Al Said of Oman in 1984. Of the three that remain, this particular wristwatch, christened “Rainbow Khanjar,” is the first to be offered for auction, which explains the ardent bidding. Not to mention, it’s one beguiling piece.

Presented in 18-karat white gold, the 36 mm model comes complete with a diamond-paved dial and diamond-set President bracelet. If that were not enough bling, a collection of striking rainbow sapphires are set around the bezel with matching stones sitting on the hour indexes. It’s a true testament to Rolex’s gem-setting prowess. Powering the watch is the caliber 3055 automatic movement with 27 jewels.

On the back, meanwhile, the national symbol of Oman, the khanjar, has been engraved to add even more prestige. Omani signed Rolexes, such as this one, have become a favorite for collectors in the past few years.

To top it off, Sotheby’s says the colorful grail is in excellent condition. The original owner, who was personally gifted the watch by the Sultan, never actually wore the timepiece and instead chose to store it in a safe. As such Sotheby’s says the colorful grail is presented in excellent condition. It also comes with the original box, stamped papers and tags.

“Finding a piece such as this on its own is a rarity; but coming across one—in what is essentially new old stock condition, is near impossible,” the auction house writes on the listing. “As the first to be offered for public sale and likely the only one in such excellent condition, this is a watch that can be appreciated by any serious Rolex collector as a centerpiece of their collection.”

Best get chasing.

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