A detail of the Rolex Single Red Prototype, Ref 1665 Sea Dweller Submariner, which topped Antiquorum's latest auction. A detail of the Rolex Single Red Prototype, Ref 1665 Sea Dweller Submariner, which topped Antiquorum's latest auction.

A rare Rolex Single Red Prototype, Ref 1665 Sea Dweller Submariner sold at auction last week for CHF 490,900 (£325,545), the highest price ever paid for a Rolex sportswatch and for a Sea Dweller.

The timepiece was sold at Antiquorum’s November auction of Important Modern & Vintage Timepieces in Geneva last Sunday, with a Japanese collector taking home the rare model, which sold for four times its pre-sale estimate.

In all, 485 of the 613 lots sold, totalling CHF 8,631,137 (£5.72m) with the Rolex named the top lot of the sale.

Other rare and unique timepieces featured in the auction including an unusual Royal Presentation Musical Fan with concealed watch from Piguet & Capt, which fetched CHF 386,500 (£256,362), as mentioned last month on WatchPro.

A number of rare Patek Philippe watches also drew plenty of attention, including perpetual calendars and a rare timepiece owned and made by a Patek Philippe regluer – a watchmaker – a stainless steel model that sold for CHF 194,500 (£128,976), more than 50% its pre-sale estimate. It is said to have roused intense bidding, and eventually sold to an Asian collector.

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Etienne Lemenager, watch expert and director of Antiquorum Geneva said of the timepiece: “It’s clear that collectors took into account the great provenance of this watch as it belonged to one of the most respected watchmakers of his time.”

Antiquorum’s managing director in Geneva, Julien Schaerer, said the auction was “amazing on all accounts”, describing the results as impressive, the bidding competitive and the clients as very enthusiastic.