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.
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Janet Yellen's Firsts
- In 2014, she became the first woman to lead the US Federal Reserve
- In 1999, she became the first female chair of the White House Council of Economic Advisers
Hunger and Fury: The Crisis of Democracy in the Balkans
Jasmin Mujanović, Hurst Publishers
LAST 16
SEEDS
Liverpool, Manchester City, Barcelona, Paris St-Germain, Bayern Munich, RB Leipzig, Valencia, Juventus
PLUS
Real Madrid, Tottenham, Atalanta, Atletico Madrid, Napoli, Borussia Dortmund, Lyon, Chelsea
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If you go
The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at.
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.
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When Umm Kulthum performed in Abu Dhabi
Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.
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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
