Rare wristwatch, Rolex Oyster Perpetual from the makers of Rolex, the most recognized name in the history of luxury watch making, recently went on display and under the auctioneers hammer in Switzerland. The sale of this watch has set a new world record for Rolex watches. Priced at the pre sale estimates $140,000 – $200,000, it was sold for a record price of $722,000, more than three times its estimated price.
Rolex Oyster Perpetual is set in 18 carat yellow gold and stainless steel with a silver baton dial on a Jubilee bracelet. The luxury watch boasts of automatic movement with power reserve of approximately 40 hours, and enamel dial by Marguerite Koch illustrating North and South of America.
The entire auction earned as much as CHF 6,457,937 (over $7 million). [Antiquorum]