In 1946, the Philippines was granted full independence by the United States of America, leading to the inauguration of the Third Republic. Since the country was then still recovering from the cataclysmic consequences of the Second World War, the government led by Manuel Roxas, the first President of the new sovereign nation, needed a financial adviser to expertly manage the country’s funds and expenses. It was at this point the Roxas administration sought the assistance of Joseph Arcache.
Before this, Arcache served as governor of Bukidnon province. He made his fortune in real estate, acquiring assets and properties in Manila. He would have taken possession of the lots along the western stretch of Senator Gil Puyat Avenue in Makati, says his son Maurice, the famous society columnist.
The older Arcache would become the financial adviser to Philippine presidents coming from the Liberal Party, including Roxas. He was considered a pioneering force in the said political party, one of the country’s most influential. As a symbol of gratitude for his loyalty and committed service to the Republic, President Roxas once gifted the adviser a Rolex Oyster Perpetual Datejust.
The watch, a certified, self-winding chronometer timepiece, is a highlight of Leon Exchange 21, the ongoing online auction of Leon Gallery (happening until this Sunday, October 17). The model was launched to the world in 1945, the year before Roxas took his oath of office. It was also the 40th anniversary of the Rolex brand. At that time, according to the Leon catalogue, the Oyster Perpetual Datejust was “the first self-winding chronometer wristwatch to indicate the date in a window on the dial.”
The Datejust up for bids is offered with two Rolex bracelets: the Jubilee and the Oyster. Previous wearers of this particular model include civil rights movement leader Dr. Martin Luther King Jr., US Presidents Dwight D. Eisenhower, Ronald Reagan, and Joe Biden, British Prime Minister Winston Churchill, and NBA icon Michael Jordan.
The watch is up for auction on Day 1 of the Leon Exchange, happening October 15, 2021 at 11 AM. All bidding will be online at www.leonexchange.com. To browse the León Exchange 21st Online Auction catalog, visit https://leon-gallery.com. For further inquiries, email info@leon-gallery.com or contact +632 8856 2781/+639985172010.
[Photos courtesy of Leon Gallery]