RARE ROLEX OYSTER PERPETUAL SETS WORLD RECORD BY FETCHING $722,000

Switzerland saw a stunning array of rare as well as exotic watches being sold under the hammer. The prized catch of the evening however was the Rolex "Oyster Perpetual", a rare wristwatch set in 14 carat yellow gold that features a cloisonné enamel dial by Marguerite Koch which depicts the two Americas. The pre sale estimates for the stunning Rolex was set at CHF 130,000 - 190,000 ($142,100- 207,710). However, when the hammer came down on this exquisite watch, the new owner had forked out a staggering CHF 662,500 ($722,000); which was thrice its original estimated price. This sale has set a world record for a time-only Rolex wristwatch as well as a record for a Rolex cloisonné enamel dial timepiece. The entire auction earned as much as CHF 6,457,937 ($7,057,360).