A rare Patek Philippe watch, once owned by King Farouk of Egypt, sold for a record Dh3.3 million at auction in Dubai.
Christie’s, who oversaw the sale, say that it was the most expensive watch ever sold at auction in the region.
The watch also set a world record for a Patek Philippe of its kind in yellow gold.
The price includes the premium that the buyer, who bid anonymously on the phone, must pay following the sale.
Described by Christie’s as the highlight of the Important Watches auction, the 18-carat gold Patek Philippe Perpetual Calendar was manufactured in 1944 for King Farouk, a renowned collector of luxury timepieces and cars.
The event generated a total of more than $7 million in sales, according to an executive at the London-based auction house.
The highlight of the evening, King Farouk’s watch generated some controversy in the days leading up to the auction, with the descendants of King Farouk telling Gulf News that the watch had been stolen from the family.
