Rolex's Oyster Perpetual Submariner wristwatch most expensive ever at £86k Oyster Perpetual Submariner is one of less than 50 of its kind in the world Bidders desperately sought the lot in person, online and on the phone The last similar Rolex sold for £62,000 at auction a couple of years ago The Oyster Perpetual Submariner Rolex, one of less than 50 in the world, fetched £86,000 when it went under the hammer A man's watch has smashed the record for the world's most expensive Rolex of its kind, selling at auction for £86,000. The extremely rare, steel-cased timepiece, fetched the record-breaking price when it went under the hammer at Anderson and Garland in Newcastle. The Oyster Perpetual Submariner, which features an explorer-style dial, sparked a frenzy in the salesroom. Bidders in person, online and on the phone all desperately sought to secure the desirable lot. The watch was manufactured in the early 1960s, and all those buying the model were given the option to upgrade the standard Submariner model with the 369 explorer dial. Very few people took up the offer, which was then discontinued after 1964. The record-breaking Rolex was marked with the model number 5513 and the serial number 1103633. Dated 1964 on the back of the case, it is widely believed to be one of less than fifty left in the world. Andrew McCoull, managing director of the auction house Anderson and Garland, said the price was a great result for their client. Andrew McCoull, managing director of Anderson and Garland auction house, said the price was a 'great result' for their client 'This is a great result for our client and is even more of a success than we had anticipated,' he said. 'It's a nice timepiece and the buyer did well to secure it. From what we know, the last similar Rolex Oyster Perpetual Submariner sold a couple of years back for £62,000. Occasionally we do see lots like these generating huge amounts of interest and bidding wars can break out. Just last year we auctioned a rare Lalique vase for £280,000, making it a world record for a Lalique vase and the most expensive work of art ever sold in the North East. The Rolex Oyster Perpetual Submariner model is a diving watch and was first manufactured in 1953. It was the first timepiece to be water resistant to 100 metres or 330 feet.