A rare Audemars Piguet Royal Oak Tourbillon has set a new price record for a timed online sale by British auctioneer Fellows.
The gold watch, dating from the early 1970s when Gerald Genta designed the iconic timepiece, sold for £70,000 ($87,500), smashing its pre-sale estimate of £55,000 to £65,000 ($67,000 to $81,000).
The watch is not only collectible because of its age and on board tourbillon, it also has an exhibition case back exposing its movement.
“I am proud that we have achieved a great result for this exceptional watch. It is the most expensive item to have sold in a timed auction to date. It’s no doubt that this Audemars Piguet is one of the most elegant watches ever designed. This is reflected in the prices that we regularly see these watches achieve in our specialist auctions. You can immediately tell the beauty of this watch by simply looking at the front dial. It has a phenomenal and rare movement and I am thrilled that someone bought this beautiful timepiece,” says Laura Bishop, watch manager at Fellows Auctioneers.