A buyer recently paid an eye-popping and record-setting amount at auction to land a Rolex that’s extremely hard to find.
The bid that won the Rolex Reference 4113 split-seconds chronograph wound up at $3.5 million, according to Monaco Legend Group’s auction house.
The eight-decade-old watch is considered extremely rare because Rolex made a "highly limited edition of only 12 examples" for Reference 4113, Monaco Legend Group said. The model represents the watchmaker’s sole split-second chronograph.
The auction house identified collector Auro Montanari (who goes by John Goldberger, as well) as the seller.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The watch’s approximately $3.5 million price tag became the highest-ever for its type. The previous mark was $2.6 million, notched in 2016, according to Bloomberg, which earlier reported on the watch’s auction result.
Montanari’s Rolex 4113 went up for sale last weekend as part of a larger watch-focused auction conducted by Monaco Legend Group that involved a slew of luxury watches from other makers. The auction house held the "Exclusive Timepieces" event in glitzy Monte Carlo.
The estimated bidding range for the Rolex prior to the auction had been about $3-$6 million, according to the Monaco Legend Auctions website.
Montanari included a special cheese knife case opener in the lot for the Rolex 4113, it said.
LUXURY WATCH MARKET DEMAND BOOSTED BY YOUNGER GENERATION OF BUYERS
Monaco Legend Auctions said on its website ahead of the watch’s sale that it was a "testament to [the seller’s] impeccable taste and dedication to the art of watch collecting."
The watch sports "oversized sub-counters, dual scale and applied baton/Arabic numbers" on its dials, according to the auction house.
"We are very proud of the World Record we achieved for this $3,500,000 on this John Goldberger Rolex 4113 Split Seconds Chronograph," Monaco Legend Group said on Instagram.
CLICK HERE TO READ MORE ON FOX BUSINESS
Rolex, the watch’s maker, has been producing watches for decades. The luxury watch company, which traces its origins back to 1905, is also not publicly traded.
Earlier this month, Rolex officially introduced the six new variations of its watch models that it created for 2024.
