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Rolex watch fetches document £1.99m at public sale

A ROLEX Daytona watch has fetched a document sum of £1.99m at a latest Sotheby’s public sale.

The watch – a John Participant Particular (JPS) mannequin, reference 6241 – appeared on Sotheby’s Vital Watches Sale’s high lot in Geneva, Switzerland on Sunday.

The watch, made in 1968, appeared on the public sale for an preliminary estimate of between £500,000 to £1m.

Nonetheless, the 18 carat yellow gold watch was claimed for practically twice its high estimate, at CHF 2,238,000 / £1,991,377, setting a brand new world document within the course of.

The watch was bought to a bidder for a document £1.99m.

The seven-way bidding battle lasted round eight minutes, with just one on-line bidder remaining in the best way of the profitable collector who clinched victory with a ultimate CHF 100,000 bid.

The ultimate worth achieved for the watch makes it the world document for any Daytona JPS mannequin, and the fifth Most worthy handbook winding Daytona ever bought at public sale.

It’s believed that 3,000 reference 6241 have been produced and solely 300 in 18 carat yellow gold circumstances.

Amongst these, solely a small fraction was fitted with the coveted John Participant Particular dial.

These watches have been principally fitted with black dials with gilt subsidiaries or gilt dials with black subsidiaries.

Moreover, this timepiece is especially priceless given its extremely good situation – the watch has by no means been serviced by Rolex, as there isn’t any inscription on the again.

Mike Wallhagen, head of Sotheby’s Watches in Geneva stated: “For a watch practically 55 years previous, it’s in staggeringly good situation with all its components intact and has by no means been serviced.

“It additionally possesses the added bonus of presenting a number of the rarest design parts to be present in any JPS reference.”

JPS stands for “John Participant Particular” – a reference to a British tobacco sponsored Staff Lotus Formulation One automotive of the Seventies.

The black and gold color scheme was shared by each the watch and the racecar.