Phillips Pulls Steve McQueen Rolex Submariner Reference 5513 From Fall 2018 Auction
In June 2018 Phillips auction house in conjunction with Bacs and Russo announced it would be auctioning a Rolex Submariner Reference 5513 given to stuntman Loren James by actor Steve McQueen.
In the subsequent weeks, various journalists – including our own Nick Gould and Jake Ehrlich of Jake’s Rolex World – did extensive individual research on the subject, which pointed toward Janes owning the watch, but only highly improbably having had it gifted to him by McQueen as a piece worn by the actor as initially stated in the auction material.
Read Nick Gould’s full take on the provenance of the watch in The Steve McQueen/Loren Janes Rolex Submariner 5513 Coming To Auction: How Long Did He Own It, How Often Did He Wear It, And How Much Survived The Fire? and his further research in Update: Loren Janes/Steve McQueen Ref. 5513 Rolex Submariner Saga Redux Thanks To ‘The Hunter.’
Phillips released a statement on Instagram regarding the removal of the timepiece in the fall 2018 auctions that reads as follows:
“After careful consideration, Phillips has decided not to offer at auction the Rolex Submariner watch given by actor Steve McQueen to his friend and former stuntman Loren Janes. We planned to offer the watch in good faith following extensive research by us and the larger watch community into the Submariner’s provenance. Since our initial announcement, however, the estate of Steve McQueen has disputed the watch’s provenance. While new information arose regarding the timing of McQueen’s gift and whether he wore the watch, we remain confident Steve McQueen gave the watch to Loren Janes based on further evidence and testimonials from people close to Steve McQueen and Loren Janes. Despite numerous attempts to engage in discussions with the McQueen family making clear that Phillips was committed to offering the watch with the corrected information, the family remains unsupportive of the sale. Phillips hoped the sale of this watch would celebrate the lives of two great men, but without the McQueen family’s support we are unable to proceed.”
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Also published on Medium.