Rolex watch sells at auction for record breaking £82,000

Rolex watch sells at auction for record breaking £82,000
June 12, 2016 Nicholas Kuhne
In Journal, Latest News, Watches
Rolex

 

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Have you ever wondered how old is your Rolex, if ever you own one? There are specific guidelines in determining the age of a Rolex watch and most of the time, it affects its value, especially when you’re selling it in an auction.

 

Rolex became a household name in the watch industry since the early 1900s. Its 1964 Rolex Oyster Perpetual Submariner model made a world record for being the highest ever price for a Rolex of this kind.  The watch broke an auction record after selling for £82,000 or nearly $140, 000 at Anderson and Garland in Newcastle.

 

It is made of a rare steel-cased Oyster Perpetual Submariner features an explorer-style dial and is the first water resistant timepiece that can survive 100 metres or 330 feet.

 

Manufactured in the early 1960s, it has a model number of 5513 and serial number 1103633, usually engraved in the case between the case and the bracelet. To note, it is also one of the less than 50 pieces left in the world.

 

Another unique perk of this timepiece is the option of upgrading it to the 369 explorer dial but was discontinued after 1964. As stated by Anderson and Garland managing director Andrew McCoull, the last Rolex Oyster Perpetual Submariner that was sold dated back a couple of years for £62,000 or $100, 000.

 

The new owner of the watch is said to be a Hong Kong collector, who bought it via online.

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