Rare Rolex watch sold for Rs 1.34 billion

DUBAI : A rare watch made by Swiss watchmaker Rolex 85 years ago in 1940 has been sold for a record price of $4.717 million. According to the Gulf newspaper Gulf News, Singaporean company Future Grail held an auction of a rare watch in Dubai, in which the watch was purchased at a record price. Rolex made only 12 watches of the ‘Rolex 4113’ model in the 1940s, of which only 9 now exist in the world. One of the nine remaining watches in the world was sold at a Dubai auction for 4.717 million US dollars, which is approximately 1.34 billion Pakistani rupees. The watch in question is Rolex’s only split-seconds chronograph watch. A similar watch was previously sold for 1.2 million US dollars, but this time the same model was sold for more than double the price. The company managing the sale of the watch did not provide any information about the buyer. The company charges a 6 percent commission from buyers and sellers. The company plans to expand its auction operations in the UAE in 2026, as rare items are starting to sell at good prices in the Emirates.