The oldest business advice in the world is to turn your passion into a moneymaking enterprise; an adage that Paul Altieri, chief executive of Bob’s Watches, has taken to heart. The avid Rolex watch collector, who made his first fortune from mass market jewellery and cash for gold upcycling, is now running Bob’s Watches, which claims to be the biggest dealer of second hand Rolexes in America with sales on track to touch $45 million this year.
Rolex has now been involved in the game for more than 40 years, and this year sees its long-standing partnership cover all the major tournaments across three continents, including the US.
Omega, Breitling and Patek Philippe all made the top 10, but major brands including Audemars Piguet, IWC, Panerai and Hublot ranked lower.
A gang armed with handguns launched a daylight raid on Loring & Co. Jewelry, a high end jeweler in Huntsville, Alabama, on Saturday.
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Price for a Rolex in such poor condition shows the value that rarity and provenance can bring to a vintage watch.
The auctions kick-off today with a GMT Master Batman timepiece with a starting bid price of $5000.
The top lot of the sale was a 1957 Rolex “Big Crown” Submariner that sold for $567,000.
The online marketplace is also hosting a special Rolex and Cartier sale in a bid to break its all time fourth quarter records.
Set to be hosted on December 6, the auction offers a curated selection of 160 lots which are predominantly fresh to market.