When it comes to flamboyant entertainers, only the late Liberace could rival Elton John in terms of opulent splendor and ostentatiousness. So it only makes sense that a Rolex watch custom-made for John, with a Leopard print band, leopard face and a jewel-crusted face, would set a record price at auction.
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A Rolex Fit For A Rocketman
Based on its sale price, the watch is beyond extravagant. It was born as a Rolex Daytona with a 40-millimeter, 18-karat gold case in 2001. Then the watch was extensively customized and didn’t make its official debut on the world stage until the 2004 Basel Fair. When the curtain was pulled back, it was clear that even by Rolex and John’s lofty standards, this watch was one to remember. In addition to the distinctive leopard print face, it included:
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5 carats of 36 square cut sapphire bezel
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Eight diamond-crusted numerals
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48 diamond accents on the band
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1.5 carats of diamonds
Even with that in mind, the most obvious appeal of the timepiece is its chain of ownership. The watch was one of many pieces from John’s collection, which was carefully curated from items he owned while living in his Atlanta condominium. The sale was handled by Christie’s and marketed as the Christie’s Collection of Sir Elton John Goodbye Peachtree Road auction. The watch was by far the most anticipated item of the auction’s opening night.
Going into the auction, the high estimated value of John’s watch was $60,000. By the time the final hammer struck, the Rocketman’s watch sold for $176,400. That price not only exceeded the estimate by 300%, but it also set a new world record price for Rolex Daytona watches. Auctioneers who were outbid for the Daytona still had options for buying a watch from John’s private collection.
Other Auction Highlights And A Seven-figure Night
A limited-edition Cartier Crash had a preauction estimated value of $70,000 before selling for $277,200. Another Cartier Tank watch autographed by John sold for $176,400, which also blew past its original price estimate of $20,000. The $176,400 was also a record price for the Cartier Tank. However, it was not the watches that took the highest bid for the night.
That honor went to “Flower ThrowerTriptych,” a Banksy painting that John received personally from the world-renowned artist. The opportunity to own an original Banksy that was previously the property of John was enticing to auction-goers. A Banksy with that kind of provenance is bound to appreciate and that makes its $1.9 million auction price seem almost reasonable.
Other highlight items at the auction included a set of custom sunglasses and the 1990 Bentley Continental convertible that traveled with John from his home in the south of France to Atlanta. The glasses sold for $22,680 while the Bentley fetched $441,000. By the time opening night concluded, Christie’s had raked in a total of $8 million.
Collectibles Aren’t Just For Fans Anymore
The prices paid for these John-owned items would be difficult to reach if only his hardcore fans bid. It’s likely a lot of the bidding action came from investors, who look at rare collectibles like John’s Rolex or a Banksy original he owned as both an appreciating asset and a hedge against inflation. The takeaway is that investing can take many forms, and owning rare collectibles is just one of them.
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This article Elton John’s Custom Leopard Print Gold And Diamond Rolex Fetches Record Price At Auction originally appeared on Benzinga.com
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