Price for a Rolex in such poor condition shows the value that rarity and provenance can bring to a vintage watch.
The auction will be led by Bonhams’ international director of watches, Asia, Tim Bourne and director of watches in Asia, Sharon Chan.
Watch is made by Loomes, which provided the timepiece for Sir Edmond Hillary's historic conquering of Everest in 1953.
Sale prices for ladies' watches show how broad demand for pre-owned Rolex models is becoming.
The internet has transformed the auction business into a global powerhouse, but additional investment will be needed to stay at the top table.
Jonathan Darracott, global head of watches at Bonhams, describes how the globalization of auctions is impacting the secondary market for watches.
Jonathan Darracott, global head of watches at Bonhams, says the market for pre-owned and vintage watches has exploded in recent years.
Collectors expected to drive prices of rare ‘Oyster Sotto’ and 'Desert Eagle' Rolexes to record levels.
Thomas Tompion is among the greatest of early English clockmakers and is considered the greatest watch and clockmaker of the 17th century.
Auction also includes the car that launched Ronnie Peterson’s career on to the international stage, the 1969 Tecno-Novamotor Ford 69 Formula 3 Single Seater.