Tag Heuer watch beats antiques valuation to go for £48k

A Tag Heuer watch has smashed its antiques valuation after going under the hammer.

The item - a 1974 Monaco with black PVD coated case - sold for £48,000 at a Bonhams auction, Retail Jeweller - a watch and jewellery magazine - reports.

The timepiece was part of the Arno Haslinger Collection of rare Heuer watches, which also included a 1969 Autavia that beat its pre-sale estimate of between £10,000 and £15,000 to sell for £30,000.

Overall, there were 81 devices at the auction and Tag Heuer itself even purchased some of the timepieces that were missing from its own collection.

This included the "Chronomatic" Carr era, which is now set to be on display in the watchmaker's museum in Switzerland.

Last month, a pink diamond went under the hammer for £29 million at Sotheby's in Geneva, Switzerland, despite having an antiques valuation of £24 million. At the time it was believed to be the highest price ever paid for a jewel.

Posted by Keith Leicester