George Daniels watch sells for $4 million

GENEVA: A timepiece by legendary mechanical watchmaker George Daniels fetched more than $4 million under the hammer -- the second-highest price ever achieved by an independent watchmaker, auctioneers Phillips said on Monday.

The watch was estimated at one million Swiss francs but eventually sold to a bidder in the room at the Geneva Watch Auction for 4,083,500 Swiss francs ($4.125 million). “This marks the highest price ever achieved for a wristwatch by a British maker but also the second-highest price achieved by an independent watchmaker -- a true milestone in the market,” Phillips said.