Rare Rolex sells for more than £165,000 and breaks auction house record
A rare Rolex in an original condition has gone under the hammer for more than £165,000 – and has broke an auction house's record.
The Military Submariner (MilSub) sold for a total of £165,200 including fees after a bidding war was sparked between five people.
It means the piece is now the most expensive watch to have been sold by Birmingham-based Fellows Auctioneers in the firm's 144 year history.
Stephen Whittaker, managing director of Fellows Auctioneers, who auctioned the Rolex ‘MilSub’, said: "We are overwhelmed to have sold this magnificent Rolex Military Submariner for over £160,000.
"This is the most expensive watch to have gone under the hammer in the history of the company, and our watch department have worked hard to ensure we held another successful sale.
"This watch is incredibly rare and we had a feeling it would be sought-after but for it to break our house record is a huge delight."
The timepiece was the most expensive watch sold at Fellows Auctioneers, based on Augusta Street, since a Rolex Milgauss was sold for £110,000 in November 2017.
The Oyster Perpetual piece was originally estimated to fetch between £50,000 to £70,000 during the sale on Monday.
Around 1,200 of these watches were created to be delivered to the British Special Forces – and were never sold to the public.
Out of the 1,200, it is believed only around 200 have resurfaced since – with the piece sold off dating back to 1987.
It featured a grey nylon NATO-style strap with a stainless steel pin buckle and measured 39mm.
