Pictured: The £1.1million Patek Philippe wristwatch that is now the most expensive in the world

A wristwatch which belonged to a Italian count who won Grand Prix races and was president of Ferrari fetched a record £1.1million at auction today.

Count Carlo Felice Trossi's large gold Patek Philippe timepiece sold at Geneva's Sotheby's sale for more than £200,000 than expected.

The "Trossi Leggenda", described as "almost certainly unique" by experts, was the star lot among nearly 200 watches.

World's most expensive watch: The Patek Philippe and ex-owner Count Carlo Felice Trossi

Trossi was a racing driver, pilot and speed boat racer whose motor-racing victories included the 1947 Italian Grand Prix.

"It is a watch of great symbolic and historic importance as it came out in 1932, a turning point which also saw car racing and the emergence of airplanes," Geoffroy Ader, Sotheby's head of watches in Geneva said.

"The combination of Patek Philippe and Ferrari make it an exceptional watch," he said, referring to the Swiss watchmaker and Italian luxury car maker.

A gold Rolex made around 1980, known as the "Oyster Daytona Paul Newman" and named after the Florida car race and for the American actor who made the style famous, netted £76,000, compared to its pre-sale estimate of £25,000 to £40,000.

"People who can buy these kinds of watches have a quest for the perfect watch. Once they've found it, they will go for it with no limit," Mr Ader said.

12-05-2008

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