Rolex Watch Sells for Record Amount

140513-140513-rolex-1353_a8a44939349fdbd6b22f8eea81c82a17.nbcnews-ux-800-600Rolex has built a reputation on high-end luxury. Last Week an impressively rare Rolex watch sold for a record $1.2 million at Christie’s Auction House in Geneva, this makes it the most expensive Rolex wristwatch to ever be sold at an auction, NBC News reports.

The timepiece is a 1949 Oyster Perpetual model with a cloisonne enamel dial and was thought to go for as low as $570,000

Christie’s auction house in Geneva was the seller, the Rolex was designed by artist Marguerite Koch and features a ship sailing on rough seas on the dial.

The blog Classic Diver reported that the record-setting Rolex had been “hidden away” for several years.

All told the Christie’s watch auction resulted in $26.5 million in sales, including a snazzy Patek Phillippe from the early 1900s that sold for over $1.34 million.

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