14 July, 2018

The Midas Touch - Celebrities and Auction Records

How does a watch blow up in value when it's formerly owned by Royalty? Not Royalty like Queen Elizabeth II but acting, music, racing or even sports royalty?

You had Paul Newman's Rolex Daytona that became the most expensive watch in the world when it sold for a herculean $17.8m. What's even crazier is that the king of cool (Steve McQueen) has a Submariner heading into an auction in October so watch this space because another record might be on the horizon.

But let's get back to the story...

Omega Watch Owned By Elvis Sells For New Record Auction

A diamond-encrusted Omega formerly owned by Elvis has sold in auction for over CHF 1.8m! The estimate was CHF 100,000.

So yeah, it went 18 times over its estimate which is surprising but not uncommon because Paul Newman's Daytona only had an estimate of $1m.

But something is missing. Why are they literally destroying their estimates? 

Okay, Elvis Presley is one of the most famous singers of the 20th century. With a string of hits such as 'Hound Dog' and 'It's Now or Never'  helped to catapult him into superstardom.

The mantle of King of Rock and Roll was solidified when he sold over 75 million records. RCA Records recognised this by gifting him a watch to honour his amazing achievement along with a plaque.

Let's take a closer look at this diamond-encrusted Omega.  

Which Omega Was Given to Elvis?

The watch, known as The Unicorn, is an Omega calibre 510 which is adorned with 18k white gold and 44 round brilliant diamonds. Retailed by Tiffany & Co., you can see their name included on the black dial under the 12-hour marker.

The watch features an engraving which says "To Elvis, 75 Million Records, RCA Victor, 12-25-60".

What we like about the watch is the fact that it contains indices and not numbers, it fits with the general style of the watch which is also manually winding.

Why an Omega?

There's something wrong with the saying "it's just a..." because you cannot simplify, nullify or disregard the intrinsic value of something because as the name suggests, it belongs to it by nature - it's permanent and there forever. 

Omega is one of the finest watchmakers in the world. Their founder literally walked from Scandinavia to the tip of Europe to prove it. The reward? They made history in the subsequent years with numerous feats and achievements. 

That endeavour has ensured that Omega established a reputation for their watches being of technical merit and design.

Final Words

This sale is a record for an Omega but that's not the best part. 

There is a tale behind the watch which involved Elvis and a gentleman who complimented his watch. After reciprocating the gesture, they ended up exchanging watches. Elvis received a Hamilton watch with an array of diamonds and the gentleman received the Omega. 

The King of Rock & Roll is still making records and this watch and its subsequent sale just illustrate his lasting influence. With the King of Cool's Rolex Submariner edging closer to auction, we can only wonder how these items continue to amaze us at auction. Besides, it's just a watch, right?

What are your favourite memories of Elvis? Hit the share button and start a conversation!

Take a closer look at the record-breaking sale of Paul Newman's Rolex Daytona by hitting the button below.

Record Sale for Omega belonging to Elvis
Record Sale for Omega belonging to Elvis
Record Sale for Omega belonging to Elvis