Rolex sale defies expectations

First published: 19-03-2010

Rolex watch fans were seemingly out in force this week, after a timepiece from the popular luxury Swiss brand believed to be worth in the region of £5,000 ended up selling at auction for £41,500.

A Rolex Submariner stainless steel watch from the 1950s went under the hammer at Clevedon Salerooms in Somerset after being discovered in a dressing table drawer at a property in Weston, the Weston & Somerset Mercury revealed.

Always held in high regard by a range of collectors, the watch was the first in the world to be guaranteed waterproof up to ten metres and upon entry into the specialist sale, enquiries came flooding in from all over the world through the telephone, internet and in person.

After just three minutes and 15 seconds, the watch ended at the final value of £41,500, the newspaper concluded.

Hodinkee recently got its hands on photos of two new Rolex Submariners, both in steel and with ceramic bezels - one in traditional black and another in green - confirming to the source that the 50th anniversary edition is "probably now discontinued".

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