A unique piece of Egyptian history is going to auction – a 1963 Rolex Day-Date watch that belonged to former Egyptian president Gamal Abdel Nasser. On the market for the first time, the watch will be sold at the Sotheby's Important Watches auction in New York on December 6.
An Egyptian army officer who led the military coup to depose King Farouk in 1952, Nasser was named Egyptian prime minister in 1954. In 1956, he was elected president, a position he held until his death in 1970.
The watch was one of his few prized possessions. Nasser was famously uninterested in material possessions, he refused to even own a house, yet the watch held a different meaning for the president. A gift from his friend, Anwar Sadat, the third president of Egypt, Nasser wore the watch often, including during prolonged talks to establish a united Arab congress.
Known for his sweeping strides to modernise Egypt, including building the Aswan High Dam and implementing wide ranging social, agricultural and economic changes, he also spent many years lobbying for a pan-Arab congress and unity between Arab nations.
Sadat took on the role of Egyptian president following Nasser's death at only 52. A personal gift between friends, the case back has been engraved in Arabic to read, “Mr Anwar El Sadat, 26-9-1963".
A reference 1803 Rolex, the Day-Date is regarded as something of a classic, favoured by those looking for something discreet and timeless. Although made in gold, Nasser's watch is devoid of ostentation.
After Nasser's death on September 28, 1970, many of his possessions were gifted to the museum in Cairo that bears his name, with only the watch remaining in the family, making it the sole possession of Nasser's that remains outside of a museum.
It is now offered for sale by its modern owner his grandson, Khalid Gamal Abdel Nasser.
“Shortly after my grandfather’s death, my grandmother gave the watch to my father, as she wanted him to have it as the eldest son," he explained in a letter that accompanies the watch. "A few years before my father passed in September 2011, he showed me the watch for the first time and passed it on to me, just as his mother had done with him."
The letter continues, "Growing up, we learned of how modest president Nasser was, rejecting to live an extravagant life of wealth and materialism, dedicating his life to the liberation movement of the latter half of the 20th century, to uniting the Arab World, to advancing the newly founded Arab Republic of Egypt, and to finally achieve peace in the region with his acceptance of the Rogers Peace Plan prior to his death."
"My grandfather never owned a house, and passed on without leaving possessions of wealth. Having sacrificed many temptations and extravagances as one of the most influential Arab leaders in modern history, one can understand how and why he cherished this gift from a life-long friend and comrade in arms."
More than just a watch, this Rolex has witnessed key moments in recent history and as such is unique. Geoff Hess, Sotheby’s global head of watches explains its significance. “Rarely do we see storied watches from presidents, such as this Rolex Day-Date, come into the public eye, typically hidden away for decades with families or donated to museums and presidential archives. Offering this timepiece is not just about the object itself, but about the rich tapestry of history it represents. It embodies both personal friendship and monumental legacy, making it a truly unique artefact for collectors and historians alike.”
The watch will be sold at auction on December 6 in New York and carries a pre-sale estimate of $30,000 to $60,000.
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EEjari%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%2C%20Saudi%20Arabia%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EYazeed%20Al%20Shamsi%2C%20Fahad%20Albedah%2C%20Mohammed%20Alkhelewy%20and%20Khalid%20Almunif%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EPropTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3E%241%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ESanabil%20500%20Mena%2C%20Hambro%20Perks'%20Oryx%20Fund%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E8%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Thor%3A%20Love%20and%20Thunder%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Taika%20Waititi%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Chris%20Hemsworth%2C%20Natalie%20Portman%2C%20Christian%20Bale%2C%20Russell%20Crowe%2C%20Tessa%20Thompson%2C%20Taika%20Waititi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Mohammed bin Zayed Majlis
