Christie's brought the hammer down on the most expensive Rolex wristwatch ever sold at auction.
The rare 1949 Oyster Perpetual model with a cloisonné enamel dial, was expected to sell for between $570,000 and $1.13 million. But strong bidding on Monday pushed the final sale price to $1,220,632.
The Christie's watch sale in Geneva, Switzerland, totaled $26.5 million, with 91 percent of the 435 watches selling. The sale shows that the market for high-end collectible watches remains strong despite volatile stock markets and global uncertainty.
The Christie's sale, which lasted eight hours, showed that today's collectors are truly global. The auction house said the sale had bidders from 30 countries.