If we needed another reminder of Dubai's growing influence in the world of horology, a rare Rolex Reference 4113 has sold at auction for $4.717 million (Dh17.3 million), setting a world record for the model, just ahead of Dubai Watch Week.
Unveiled at an intimate preview inside Bvlgari Yacht Club, the watch attracted a crowd of global collectors, drawn by the promising of seeing one of only a dozen Reference 4113s ever made.
“This sale is one of the most significant in auction history,” said Ali Nael, chief executive of FutureGrail, who organised the auction. “We may not see a Rolex Reference 4113 of this quality come to market for a long time.”
Produced in the 1940s, the Reference 4113 is near mythical among collectors. Only nine examples are known to be in circulation, and it remains the only split-second vintage chronograph Rolex ever produced.
This $4.7 million result catapults it into the ranks of the top 10 most expensive Rolex watches ever sold, beating the previous Reference 4113 record by more than $1.2 million – a margin that indicates both scarcity and the market’s appetite for blue-chip vintage pieces in pristine condition.
FutureGrail, which is headquartered in Singapore, is looking to expand to the UAE in 2026. It's a move that feels both strategic and obvious, with many storied auction houses finding a foothold in the country.
Arnaud Tellier, FutureGrail’s head of curation and former director of the Patek Philippe Museum, sees this shift clearly: “From individual collectors purchasing for pleasure to investors diversifying their portfolios outside of traditional stocks and real estate assets, there is huge demand in the luxury watch market. Shrewd collectors optimise value and potential liquidity of purchases by finding rare items in the best possible condition.”
As the city gears up for another edition of Dubai Watch Week, which takes place from November 19-23, the message is clear: the global centre of gravity for collecting is shifting. And the world’s rarest watches now find their highest expression, and highest bidders, in the UAE.
