Auctions: Sotheby’s Brings First International Auction To Saudi Arabia, Featuring A Prototype Richard Mille (And More)

It’s no secret that the Middle Eastern market has been a major player in the growth of the watch market over the last few years. It should be no surprise either – the Middle East has a long history with watches, and vintage watches with provenance from the region are among some of the most coveted top-tier brands. That power extends to Middle Eastern investment in the art world over the same period. That’s why you might be surprised to hear that Saudi Arabia has never hosted a major international auction. That changes with Sotheby’s “Origins” auction, taking place in Diriyah on February 8.

Sotheby’s “Origins” sale isn’t just about watches, but there are 10 watch lots, and more than a few of them are worth a closer look. Above, you’ll see Lot 116, a Rolex ref. 6264 “Paul Newman Musketeer” Daytona. In addition to the paperwork from the original owner’s purchase, the subdials are the main details to check out. Instead of a full circular texture on the subdials (like most Daytonas), “Musketeer” dials have subdials where the circular design only covers 2/3 of the dial, while the rest is smooth and sloped. It’s the rarest tri-color dial for the ref. 6262 or 6264, and the estimate is $160,000 – 320,000.

If you’ve got more money to spend, the highest estimate is $1,000,000 – 1,500,000 for a prototype version of the Richard Mille RM 038 “Yohan Blake,” worn by the Jamaican sprinter in the 2012 Olympics. There are not a lot of Olympic-worn tourbillons out there, but a prototype watch in magnesium alloy, weighing only 44 grams, is a next-level sports watch.

The Middle Eastern market trends more toward modern watches, and so does the catalog, but vintage styling is still on offer. There’s a 2007 unique Cartier Crash with an estimate of $130,000 – 260,000. For those who like watches with Middle Eastern provenance, there’s that option as well, with a platinum Rolex Day-Date II featuring a caseback engraving of the Omani crest and confirmation of its delivery to the Royal Palace. The lot carries an estimate of $60,000 – 90,000.

Yes, ten watches isn’t a massive sale, but it will be an interesting test of the Saudi market as a host to a major international auction. I’ll be most closely watching the Daytona and Crash as I think they’re the biggest test of the taste of the country. But any big auction is no longer confined to the country it’s held in, so if you want to pay close attention, you should watch online to see how frequently you’ll see bids pop up on the telephone or online from around the world.

​Hodinkee 

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