Picture: ISTOCK
Picture: ISTOCK

Zurich — A 1960 Omega watch that belonged to Elvis Presley has sold for $1.8m at an auction by Phillips, setting a record price for the Swiss watch brand.

The 18-carat, white-gold wristwatch sold for 18 times the high estimate. RCA Records gave Presley the watch as a commemoration when the musician sold 75-million records.

The Geneva spring auction season started on Saturday with watch sales by Phillips, which has emerged as the leading auction house for rare, vintage timepieces, ahead of Christie’s and Sotheby’s. In October, Phillips set the record for the most expensive wristwatch ever auctioned with the $17.8m sale of a Rolex that once belonged to actor Paul Newman.

Phillips also held a sale that was dedicated solely to Rolex Daytonas, one of the most sought-after models for collectors. It sold a one-of-a-kind 1970s Rolex that fetched $5.9m, the second-highest auction price for the brand. Dubbed "The Unicorn", the chronograph has a black dial and a white-gold bracelet made with a texture that mimics tree bark.

The proceeds will be donated to charity.