A Rolex watch offered by President Roxas at auction


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It was a sign of gratitude for the loyalty of the man

ANCX staff | October 15, 2021

In 1946, the Philippines gained full independence from the United States of America, which led to the inauguration of the Third Republic. As the country still recovered from the cataclysmic consequences of World War II, the government led by Manuel Roxas, the first president of the new sovereign nation, needed a financial advisor to expertly manage the funds and expenses of the nation. country. It was at this time that the Roxas administration sought the help of Joseph Arcache.

Before that, Arcache was governor of the province of Bukidnon. He made his fortune in real estate, acquiring assets and properties in Manila. He would have taken possession of the lots along the western section of avenue Senator Gil Puyat in Makati, says his son Maurice, the famous social chronicler.

The Arcache family: (left to right) Maurice, Olivia, Mary (mother), Pearlie, Joseph (father) and Queenie, with nephews Jon Jon, Jay Jay, An

The elder Arcache would become the financial adviser to Philippine presidents from the Liberal Party, including Roxas. He was considered a pioneering force within the said political party, one of the most influential in the country. As a sign of gratitude for his loyalty and commitment to the service of the Republic, President Roxas once offered the advisor a Rolex Oyster Perpetual Datejust.

The watch, a certified self-winding chronometer watch, is a highlight of Leon Exchange 21, Leon Gallery’s ongoing online auction (which runs until Sunday, October 17). The model was launched to the world in 1945, the year before Roxas was sworn in. It was also the 40th anniversary of the Rolex brand. At that time, according to the Leon catalog, the Oyster Perpetual Datejust was “the first self-winding chronometer wristwatch to show the date in an aperture on the dial”.

Young gentlemen of Cagayan de Misamis in the 1920s.
Young gentlemen of Cagayan de Misamis in the 1920s. The third person standing (from left to right) is Joseph Arcache

The Datejust up for bids is offered with two Rolex bracelets: the Jubilee and the Oyster. Former bearers of this particular model include the leader of the civil rights movement, Dr Martin Luther King Jr., US Presidents Dwight D. Eisenhower, Ronald Reagan and Joe Biden, British Prime Minister Winston Churchill and the icon of the NBA Michael Jordan.

The watch goes up for auction on day 1 of the Leon Exchange, which will take place on October 15, 2021 at 11 a.m. All auctions will be online at www.leonexchange.com. To browse the León Exchange 21st Online Auction catalog, visit https://leon-gallery.com. For more information, send an email to [email protected] or contact +632 8856 2781 / + 639985172010.

[Photos courtesy of Leon Gallery]

Floyd N. Morlan