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April 1, 2009updated Jul 09, 2015

Milan Watch Auction Results

By Pardhasaradhi Gonuguntla

Patrizzi & Co’s auction of The Davide Blei Vintage Rolex Collection on March 22 in Milan brought in a total of €2,736,400, or more than $3.7 million. This figure reflects the hammer price, as the auction house does not charge the buyer’s commission that normally adds 20-25% to the total.

Of the 114 Rolexes in the collection, all but one sold, which was due to an Internet buyer exceeding his limit. Some 200 bidders attended the auction in Milan with almost 100 participating online.
The top lot at the sale was a stainless steel Rolex Oyster Perpetual, Ref. 6062, made in 1953 that sold for €197,000 ($268,637), over its estimate of €100,000-150,000. A pink gold “Stelline,” Ref. 6062, fetched €150,000 ($204,597), matching its estimate of €150,000-200,000, and a pink gold Oyster Chronograph, Ref. 6032, made in 1950 sold for €77,000 ($105,042), almost double its estimate of €40,000-50,000.

The Davide Blei collection was considered one of the most important of vintage Rolexes, particularly in terms of quality and esthetic appeal. The auction was held at the Hotel et de Milan in Milan with written, telephone and Internet bids also accepted. Patrizzi & Co was founded last year with headquarters in Geneva and offices in Milan and New York. As operating policy, a Patrizzi & Co horology expert carefully examines and evaluates every timepiece it offers for sale, which is then accompanied by a five-year guarantee of authenticity.

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