A "one of a kind" Patek Phillipe yellow gold wristwatch has sold for a record-breaking $5.7 million (£3.8 million) at auction.
The 18-c gold chronograph piece surpassed initial estimates of 1.5 million to 2.5 million Swiss francs, realising 6.26 million francs at the Christie's International auction held yesterday (May 10th) in Geneva, Switzerland.
Auctioneer Aurel Bacs said during bidding that the gold timepiece was the "Mona Lisa of 20th century wrist watches in private hands".
The sale marks the first time that the watch - which displays the phases of the moon and has a self-adjusting leap year calendar - has gone under the hammer in 20 years.
Luxury gold jewellery also performed well at Heritage Auction Galleries' recent Signature Fine Jewellery sale.
An 18-c gold Van Cleef & Arpels necklace sold for $16,000, while in the Timepieces sale an 18-c gold Nashua Watch co pocket watch fetched $26,290 at auction.
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