Rare and historical watches auctioned in Dubai

The National -- The watch of the late King Farouq of Egypt, a Patek Philippe brand, was auctioned at $750,000 (Dh2.754 million), while the Rolex watch of Sheikh Mohammed bin Rashid Al Matoum was sold at $130,000 (Dh477,360).

The two brand watches were sold at Christie’s auction, which was held at Dubai’s Jumeirah Emirates Towers on Friday.

When both watches' lot came up, the bidding was opened at hundreds of thousands of dirhams, but telephone bidders continued to place higher bids until Sheikh Mohammed’s watch was sold at $130,000 and King Farouq of Egypt's was auctioned at $750,000.

The auction fetched a total of more than $7 million in sales, according to a Christie executive.

It was described by one the bidders, from China, as one of the most competitive auctions. “I am interested in buying unique watches showcased during the auction. If I was lucky to get one of these watches, I will keep them and not consider selling them,” said the 27-year-old Chinese bidder.

The two telephone bidders, who managed to secure the bids for the two most important watches, declined to reveal the names of those bidding to buy the watches.

Sheikh Mohammed’s watch, a very fine and extremely rare stainless steel Rolex oyster bracelet, was made exclusively for him and features his signature.

The watch of the late King Farouq (1920-1965), also rare and historically important, features an 18k gold perpetual chronograph wristwatch with moon phases.

The watch’s model is described and illustrated in the Patek Philippe museum.