Revolution: The Evolution of the Role...

New York, Apr 17, 2008

LOT 221

Mexican President Jose López Portillo?s Sea-Dweller Rolex, ?Oyster Perpetual Date, Sea-Dweller, 2000 ft/ 610 m., Superlative Chronometer, Officially Certified?, Ref. 1665. Made in 1974. Fine, center seconds, self-winding, water resistant to 610 m, stainless steel wristwatch with helium escape valve.

USD 10,000 - 15,000

EUR 6,700 - 10,000

Sold: USD 31,200

C. Three-body, polished and brushed, first generation helium escape valve at 9, graduated revolving black bezel for the decompression times, Triplock winding crown protected by the Crown Guard, screw-down case back with dedication inscription and crown. D. Black with luminous round, baton and triangular indexes, aperture for the date. Luminous steel skeleton hands. M. Cal. 1570, rhodium-plated, oeil-de-perdrix decoration, 26 jewels, straight-line lever escapement, monometallic balance adjusted to 5 positions and temperature, shock absorber, self-compensating free-sprung Breguet balance spring, hack mechanism. Dial, case and movement signed. Diam. 40 mm. Thickness 17 mm.


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Grading System
Grade: AAA

Excellent
Case: 3

Good
Movement: 3*

Good

Overhaul recommended, at buyer's expense
Dial: 2-34-02

Very good

Restored by the manufacture

HANDS Service hands

Notes

Born in Mexico City, López Portillo studied Law at the National Autonomous University of Mexico before beginning his political career with the Institutional Revolutionary Party in 1959. He held several positions in the administrations of his two predecessors before being appointed finance minister under Luis Echeverría, a close friend, from 1973 to 1975. López Portillo undertook an ambitious program to promote Mexico's economic development with revenues stemming from the discovery of new petroleum reserves in the states of Veracruz and Tabasco by Petróleos Mexicanos (Pemex), the country's publicly owned oil company. López Portillo who was president of Mexico from 1976 to 1982 undertook actions which were highly controversial with respect to the international banking establishment. One of his last actions as president, announced during his annual State of the Nation address on September 1, 1982, was to order the nationalization of the country's banking system.