By Max Berlinger
Watches have become something more than mere time-telling instruments. They've become signifiers of wealth and power that tell the world just how important you are (or how important you think you are). And Rolex, along with a few other brands, is at the top of the apex of these formidable timepieces. While everyone knows that if you want a brand new Rolex you'd better save up because it'll cost you a pretty penny, it was an older model that fetched a record-breaking price over the weekend.
RELATED: The 11 Watches Every Man Should Know
According to Luxury Launches, Christie's auction house brought down the gavel at $1.2 million on a Oyster Perpetual style from 1949 in Geneva-a record for the brand. Expectedly, this isn't your basic model: it features a cloisonné enamel dial (featuring a spirited depiction of a nautical scene designed by Marguerite Koch), a sweeping seconds hand, and automatic jeweled lever movement. And while it's a best for Rolex, it wasn't even the top lot of the sale. That title belongs to a Patek Philippe which went for $1.3. As they say, time is money.