At their ‘Important Watches: Featuring “The Collection” Part 2’, taking place on October 27, 2024, Christie’s Hong Kong is offering a rare Rolex Sea-Dweller ‘Double Red’ Mk1 Ref. 1665 ‘Patent Pending’ that is not what it pretends to be. A watch sold in 2013 featuring the same case number is registered in my database with completely different specs. Someone converted it into a rare ‘Patent Pending’ prototype to double its value, and made the mistake to apply fake engravings, making it a counterfeit in the truest sense of the word. Christie’s does not limit itself to offering made-up watches, they also seem to have no problem spreading old and debunked information in their lot essays, showing little to no consideration for quality education of their customers. Unfortunately, this is what happens when there are no standards to adhere to. The world of watch auctions is a Wild West in desperate need of law and order.

---

Update October 28, 2024
Shortly before the auction started, Christie’s Hong Kong did the right thing and withdrew the watch discussed in this article. As usual with Christie’s, the content was deleted from the website and can no longer be accessed.

Lot 2316 – Very rare Rolex Sea-Dweller ‘Double Red Mk1’, Ref. 1665, 1756110

The present watch is a good looking piece at first glance, featuring highly coveted parts like the ‘Double Red’ Mk1 dial, the ‘kissing 40’ bezel insert (where the 4 ‘kisses’ the 0) and the ‘Patent Pending’ caseback, thus presenting itself as a rare pre-patent prototype. Additionally, there are only a handful ‘Patent Pending’ watches in the 1.7 million, making it even rarer.

Auction link: Lot 2316 – Very rare Rolex Sea-Dweller ‘Double Red Mk1’, Ref. 1665, 1756110 (christies.com)

The interesting thing about this watch is that when it was on sale more than 10 years ago, in 2013, it had a later dial, different hands (service), a different bezel insert and a regular caseback. The dial back then was a ‘Double Red’ Mk2 with gorgeous tropical patina, often found in the 1.7 million case number range. Compared to the Mk1, the Mk2 has the smaller ‘Submariner 2000’ print and a different coronet.

The next picture shows the watch in 2013. The hands looked like a service replacement. The bezel insert was the same type (hooked 5) but without the misprint (caused by a worn cliché) which makes it a sought-after ‘kissing 40’.

The 2013 sales listing is still online on the Vintage Rolex Forum. Click the link below for details.

Link: FS: 1967 DRSD MK II Tropical Thin Case Double Red Sea-Dweller 1,7xxx (vintagerolexforum.com)

When offered in 2013, the seller provided important detail pictures of the watch, like the case and reference number between the lugs (case number partly obscured), the inside of the caseback and the movement. The following comparison of the case numbers proves it is one and the same case.

So far, this is “only” a made-up Frankenstein watch but what makes it a full-fledged counterfeit, are the fake engravings (last 3 digits of the case number) on the inside of the ‘Patent Pending’ caseback.

The ‘Patent Pending’ Sea-Dweller with ‘Double Red’ dial is quite a rare model. Just about 300 examples were made in 1969 throughout three batches. Their case numbers are in the 2.11, 2.12 and 2.24 million case number range. Many of these watches were given to hand-picked divers for testing purposes before the Sea-Dweller was officially launched in mid 1970. Weirdly, there are also a handful examples in the 1.7 million range. For those who do not know, Sea-Dwellers with 1.7 million case numbers were only rolled out in 1971/72. The reason being that in late 1967, Rolex mass-produced Sea-Dweller cases before understanding that a helium release valve was needed for saturation diving. Once the valve concept was developed, these cases were put aside for several years and only assembled later on after retrofitting the valve to them.

The interesting thing about the small number of ‘Patent Pending’ examples in the 1.7 million range is that their casebacks do not feature the last three digits of the case number on the inside. Whoever put the present watch together is not very knowledgeable; otherwise, he would have refrained from adding fake engravings to the inside of the caseback. This was the first thing I noticed, and I immediately knew something was off.

For the sake of completeness, below is a comparison of the Cal. 1570 movement. It is a perfect match also. Some of the screws appear to have been moved which is an indication that the movement was serviced at some point.

There you have it, proof beyond any doubt that the watch is a franken/fake. It would be interesting to learn when the watch was converted and by whom, and whether the consignor was aware of the alterations before he bought the watch.

---

False Narratives

The made-up watch is one thing, the false historical narratives perpetuated by Christie’s in the lot essay another. It appears the “watch specialists” at Christie’s are stuck with old stories, unable to learn new things. They keep perpetuating the long-debunked story that the Rolex helium release valve was developed in collaboration with the French commercial diving company Comex.

The Sea-Dweller was the result of a historic collaboration between Rolex and French deep sea dive company COMEX in the early 1960’s to test and develop a watch that could withstand ever increasing working depths and remain intact during ascent and decompression.

The collaboration between Rolex and Comex started in late 1971, long after the Sea-Dweller was fully developed and available to the public. Christie’s also continues to tell the nonsensical fairy tale that the Rolex Submariner models of Ref. 5513 and Ref. 5514 made for Comex were the first watches to have a valve.

Found today in a number of Rolex modified reference 5513 followed by reference 5514, which was the first reference manufactured by Rolex with the escape valve. Reference 5514 was specifically designed and manufactured for COMEX and not commercially available, though because of the success of the technology the Sea-Dweller was launched commercially as reference 1665 in 1967.

This is totally wrong also as the first valve-equipped Ref. 5513 watches specifically made for Comex were produced in 1972, as per case numbers. Ref. 5514 was introduced in 1974. The reason why Comex received modified Submariners instead of Sea-Dwellers is simple. The watches were supplied to Comex for free and since most of the commercial Comex divers did not work below 330 ft/100 m of depth, a modified Submariner was not only good enough but also considerably cheaper than a Sea-Dweller.

In the same auction, Christie’s is offering a commemorative Rolex Deep Sea Special example with case number 31. Not much to say about the watch itself, except that many of these pieces were originally delivered without movement as they were pure display items.

Auction link: Lot 2427 – Rolex Deep Sea Special No. 31 (christies.com)

In the lot essay of this watch, Christie’s continues to perpetuate the false narrative that the Rolex Deep Sea Special No. 1, which they sold in late 2021, is the watch that dove to a record depth of 10,334 ft/3,150 m in September 1953:

“N° 1 – made for testing purposes in 1953 and understood to be the watch fixed to the ‘Trieste’ during September and October 1953 – sold Christie’s Geneva, 8 November 2021, lot 33”

This claim is of course nonsense. The Rolex Deep Sea Special No. 1 is a later watch that probably never saw any action. I debunked the story prior to the auction and again in February 2024 after new evidence had come up. My work was ultimately vindicated by the recently launched authorized Rolex Submariner book, which despite being riddled with false claims and errors, shows for the first time a proper photo of the real 1953 record watch. It is exactly as I said.

View this post on Instagram

A post shared by Jose Pereztroika (@perezcope)

Related to the Deep Sea Special No. 3, which survived the journey to the bottom of the Mariana Trench in January 1960 and was given to the Smithsonian Institution in Washington, D.C., the essay states the following:

“N° 3 – fixed to the ‘Trieste’ during the world-record dive to 3150 meters in the Marianas Trench in 1960 – Given by Rolex to the Smithsonian Institute, Washington D.C.”

The 1960 world-record dive went to a depth of 35,797 ft/10,911 m, not 10,334 ft/3,150 m as stated. It is inconceivable how the watch specialists at Christie’s can be this unfocussed. At least make an effort to make it look like you are passionate about your job and not just the consignment fees.

Christie’s needs to stop perpetuating these false and long-debunked claims if they want to be taken serious. They owe it not only to the watch collecting world but also to themselves. Once a highly respected auction house, it becomes more and more clear they have no passion for watches and are just after the dollar. Generally, as this watch collecting thing is getting more serious and sophisticated by the day, all parties involved need to curate history with the precision it deserves. It is time to make this a grown up business.

---

Thoughts

The German Philosopher Friedrich Nietzsche once wrote: “Beware that, when fighting monsters, you yourself do not become a monster…” When I look at the database I have built and contemplate its insane capabilities, I am often reminded of this quote. I am fully aware of how damaging all these exposés could be for the market but I see no alternative to uncovering some of the shenanigans I come across. Collectors and watch enthusiasts have a right to know what is going on. Auction houses and watch dealers who continue down this path are shooting themselves in the foot. It is not me who is damaging the market, it is them.

Thank you for your interest.