The watch that crossed the English Channel: Mercedes Gleitze's historic Rolex to be auctioned for $1.3 million
Kyiv • UNN
A Rolex Oyster watch, which belonged to the first British woman to swim the English Channel, Mercedes Gleitze, will be auctioned at Sotheby's in Geneva. It is expected to sell for over $1.3 million.
A watch that has become a symbol of innovation and endurance is being put up for auction: a Rolex Oyster, worn almost a century ago by the first British woman to swim the English Channel, Mercedes Gleitze, could fetch over $1.3 million at a Sotheby's auction in Geneva. This is reported by Bloomberg, writes UNN.
Details
According to the auction house, Mercedes Gleitze's Rolex Oyster could fetch over $1.3 million at the November 9 auction in Geneva. The watch is considered the world's first practical waterproof wristwatch and helped establish the Swiss company's reputation for stylish and innovative products.
Its current owner — an unnamed private collector — acquired the watch in 2000 at auction for £17,000 ($22,850) as part of Gleitze's estate.
After Gleitze used the watch, Rolex "loudly announced to the world that it had discovered and patented the most important invention for a wristwatch."
Mercedes Gleitze, who worked as a typist in London, successfully swam the English Channel on October 7, 1927, but her achievement was overshadowed by a rival who later turned out to be a fraud. To confirm her achievement, Gleitze agreed to a repeat swim, which the press dubbed the "rehabilitation swim." A film with the same title was made about it last year.
Before the second swim, Rolex founder Hans Wilsdorf saw an opportunity for promotion. He gave Gleitze a 9-carat yellow gold watch with a waterproof Oyster case, which she wore around her neck on a ribbon.
Although she stopped the swim after more than 10 hours in the water due to bad weather, the watch remained in perfect working order. This marked the beginning of Rolex's advertising campaigns and sponsorship of prominent athletes such as Jack Nicklaus (golf), Roger Federer (tennis), and Edmund Hillary (mountaineering).
This event shaped and defined the brand's entire marketing strategy — how Rolex invests in professionals, athletes, and public figures.
While Hines does not rule out that Rolex itself might buy back the watch due to its historical significance, he believes that private collectors might be attracted by the story itself. As an example, he cited the recent sale of an original Birkin bag created for the late singer and actress Jane Birkin.
However, after a rapid rise in 2021 — early 2022, prices for the most coveted models of Rolex, Patek Philippe, and Audemars Piguet in the secondary market sharply declined in 2023, as speculative purchases decreased. Although demand has begun to recover, prices have not yet reached the level of the Covid-era collecting frenzy.
Geneva-based Rolex started the year with price increases of up to 8% on some precious metal models. Swiss watchmakers are also facing rising gold prices and a 39% tariff that the US imposes on imports from Switzerland — the highest among developed countries.