Rolex watch sold for £ 230k

A 50-year-old Rolex  Oyster Perpetual Submariner wristwatch with orange numerals, which survived falling into a cement mixer has been sold for £230,000,  reaching a new UK record.  It was originally tipped to fetch only about £8,000, but the timepiece, bought by its previous owner in 1965, sold for £230k.

The Italian collector who outbid his rivals 30 times the initial estimate, had flown in for the auction into Lockdales Auctioneers in Martlesham Heath at Ipswich from Holland and United States.

Auctioneer Chris Elmy said: “The Rolex was a record-breaking price for us as it’s the highest price we have achieved so far since we began auctioneering in 1996. When the lot went under the hammer, over 100 bidders took part online as over 10 telephone lines were jammed. The Rolex Submariner is a classic design that is waterproof will work up to a depth of 1, 000ft.”

The successful Italian bidder said one of the reasons the watch is so valuable is the fact that the dial is in such a good condition as also the orange numerals are very rare.