Like me, you get a kick out of seeing a rare vintage Rolex watch and imagining about what it must’ve been like to pay a few for a pointed crown guard Rolex Submariner. However, I don’t beat myself up about missing the boat on these.
My favorite watch brand, of course, Rolex in particular, didn’t take shape until the mid-’90s. I ended up purchasing my first replica Rolex, a stainless steel Datejust, in 1998. In 1992 I was eleven years old. The furthest thing from my mind was attending a watch auction – in Geneva to boot. I was too busy collecting baseball cards… I only learned about this auction several years ago, when I found the catalog at a flea market. Recently, I decided to dust it off and imagine what it would’ve been like to be in attendance that weekend in April – to raise a paddle in the Hotel des Bergues and bid on a vintage Rolex…
Judging by the lot descriptions, it’s safe to assume that twenty-four years ago no one was concerned with – or paying a premium for – those small details we enthusiasts go crazy for today. You won’t find a single mention of a dial described as “tropical.” The only distinction among Daytonas is the “so-called ‘Paul Newman'” variation. Many errors can be seen printed in the catalog, such as: “Ref. 6239, with steel bezel, produced from 1961 to 1988…” Many of the lot descriptions are just cut-and-pasted, including the estimates. To say this time period was the calm before the storm in fake watch collecting would be an understatement. 
I took the liberty of converting the hammer prices, reported in Swiss Francs, into US Dollars according to the exchange rate back in 1992. I also decided to focus solely on the Daytonas – the most-collectible Rolex model today. Make sure you’re sitting down before you read any further – these prices even include the buyer’s premium…
You might be shocked to know that the Daytona achieving the highest result was not a “Paul Newman,” but rather was a tie between a solid 18ct. yellow gold ref. 6265 and a solid 18ct. yellow gold watch. Both cheap replica watches sold at a very cheap price. For comparison, Christie’s “Lesson One” Daytona auction in November 2013, which featured 50 exceptional Daytona lots to celebrate the 50th anniversary of the model (1963-2013), realized a pretty low price.
