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    An exhibitor displays the Patek Philippe 18k gold perpetual chronograph wrist watch with moon phases belonging to the King Farouk, at the Christie's auction in Dubai, United Arab Emirates, March 19, 2018

    Last King of Egypt's Watch Auctioned Off in Dubai Sets New Record

    © REUTERS / Satish Kumar
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    The watch has become one of the main lots at an auction in the UAE. The luxurious item which was sold for an unprecedentedly high price was made in the 1940s and is one of only 281 such pieces in existence worldwide.

    A rare gold wristwatch that once belonged to Egypt's King Farouk was sold by the British auction house Christie's in Dubai for $912,000, Arab News wrote on Sunday.

    The name of the buyer remains unknown.

    The watch made by Swiss company Patek Philippe was initially expected to be sold at between $400,000 and $800,000 has set a new record among similar lots ever auctioned off in the Middle East.

    The watch is made of 18K gold and has the inscription of the Egyptian Kingdom's crest, a chronograph and perpetual calendar.

    READ MORE: Dino Sale: $2 Million Allosaurus to Be Auctioned Off at Eiffel Tower (VIDEO)

    It is considered one of the rarest models by Patek Philippe with only 281 pieces manufactured back in 1941.

    The total sales of the auction exceeded $7 million.

    Farouk, the last King of Egypt, reigned in the country from 1936 until 1952.

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    watch, auction, Dubai, United Arab Emirates
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