Heritage Auctions Inc.' latest auction brought in $1.4 million on 667 lots, including $107,550 for a "James Bond" Submariner Rolex Watches.

The auction, Heritage's most recent Fine Jewelry and Timepieces Signature Auction, was held on May 20 in Dallas.

While several notable lots sold, including a $131,450 platinum and yellow-diamond ring and a $65,725 Patek Philippe SA Men's Gold Ref. 1579 Chronograph Wristwatch with Register circa 1950, the James Bond watch was the story of the auction.

According to auction director Jill Burgum, the auction house obtained the watch at an Appraisal Day event held in San Antonio, Texas, and it was expected to bring in between $500-$1,000.

She said Heritage agreed to include it in the auction and, after doing some research, realized the watch, a 5510 model circa 1958, was a very rare piece.

The 5510 model is considered the rarest of the Submariner models.

Ian Fleming's James Bond character wore this model in Dr. No, From Russia with Love, Goldfinger and Thunderball.

Jim Wolf, Heritage's consignment director for timepieces, said the couple who consigned the watch for the auction watched it live online and were thrilled with the result.

"They stated there were great concerns about where money was going to come from for an important situation they needed to cover," he said. "The auction proceeds alleviated their worry so this story had a very happy ending."

Source: Nationaljeweler.com
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