Time is big money:Rolex sells for $1.2M at Christie’s

Christie’s brought the hammer down Monday on the most expensive Rolex wristwatch ever sold at auction.

The piece, a rare 1949 Oyster Perpetual model with a cloisonné enamel dial, was expected to sell for between $570,000 and $1.13 million. But strong bidding pushed the final sale price to $1,220,632.

The Christie’s watch sale in Geneva totaled $26.5 million, with 91 percent of the 435 watches selling. The sale shows that the market for high-end collectible watches remains strong despite volatile stock markets and global uncertainty.

read entire & original post here: By Robert Frank