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.

The record-breaking sale reflects the UAE's increasingly central role in the global watch market. Photo: FutureGrail

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 fo