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The million dollar Rolex watch

Amongst all the great watches that Rolex has under its belt, one timepiece in particular has forged its way to the top of the market by being the first watch to break the million-dollar mark this year. It wasn’t an Oyster Perpetual or a Daytona. It didn’t have high profile celebrity provenance and it wasn’t discussed widely whatsoever. It was the Rolex Day-Date, the watch of prestige.

Worn by presidents, leaders and visionaries across the world. The Day-Date represents the ultimate in refinement and comfort. Just last month, the Rolex 'Rainbow Khanjar' Day-Date ref. 18059, sold for more than $1,330,000 (RM5,587,621) at a Sotheby’s online sale on the 9th of February but not many people realize that a new world record for the Day-Date at auction was set. Even having said that, this rare technicolor timepiece had some of the most serious watch collectors bidding at around 6 figures before it got sold. This further proofs that rainbow color watches are still a hot commodity.

The belief of why this Rolex Day-Date was desired by watch enthusiasts is due to its rarity. The 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 is one enchanting piece.

The 36 mm model is made of 18-karat white gold and features a diamond-paved dial and a diamond-set President bracelet. A ring of stunning rainbow sapphires is placed around the bezel, with matching stones on the hour indexes, if that wasn't enough dazzle. It's a genuine tribute to Rolex's ability to place gems. The watch is powered by a 27-jewel calibre 3055 automatic movement.

Meanwhile, the khanjar, Oman's national emblem, has been inscribed on the reverse to lend even more dignity. In recent years, Omani autographed Rolexes, like as this one, have become popular among collectors.

Not only that, Sotheby confirms that the colorful grail is still in excellent condition at the time of the bidding. 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 says the colorful grail is presented in excellent condition as it also comes with the original box, stamped papers and tags.

The Day-Date has always been an unusual piece in the current Rolex lineup. Sure, it has a long and illustrious history, and there's no doubting its importance, but the Day-Date never seemed to inspire the same excitement or research as other vintage, modern, or current Rolex watches. However, the Day-Date has long been associated with success in a broader cultural sense. You may argue that the Day-Date has stayed apart from wider "watch culture" because of its intrinsic symbolism, especially when contrasted to stainless-steel sport Rolex watches like the Submariner, Daytona, GMT-Master, or Explorer. This still doesn’t change the fact that the Day-Date has set an unforgettable record in horology history.