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Eisenhower Rolex Falls Short

Posted on September 24th, 2014 by Goldman Buyer

Last week, an 18-karat gold Rolex was put up for sale by RR Auction – but this wasn’t just any ordinary 18-karat gold Rolex. The watch belonged to President Dwight D. Eisenhower, given to him by the famed watchmaker in 1951. However, bids didn’t quite cut it.

The seller, Raleigh DeGeer Amyx Collection, set an undisclosed reserve (the lowest price that will buy the item) that was not met. Bidding started at $100,000 and climbed to about $475,000 before stopping. Since bids were short of the reserve price, the watch went unsold. Prior to the auction, some guessed it could become the most expensive watch ever sold, but it didn’t even come close to the previous record of over $11 million, with the priciest Rolex sold for $1.22 million.

This particular watch is a yellow gold Datejust with a matching 18k Jubilee bracelet. The back of the case is engraved with Eisenhower’s initials “DDE,” his five-star general insignia (he was a general in WWII) and the date he was appointed Supreme Allied Commander of Europe by NATO. The former president also had a titrium and a Cyclops magnifier crystal added after the watch was given to him.

RR Auction is likely to reach out to private collectors to find a buyer who will offer the right price.

 

Courtesy of Bloomberg

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