A platinum watch was one of the big sellers at a recent Sotheby's auction in Hong Kong.

The Patek Phillipe wrist watch sold for £0.75 million - a new world record price for such a product, reports Voanews.com.

Also on offer at the spring sales event was a 72-carat diamond which the auction house had hoped to sell for as much as £6.5 million.

However, after a sale fell through on Thursday evening it has gone unsold.

A spokesman from Sotheby's, told the website: "Bidders from different countries had miscalculated the exchange rate and were uncertain of what they had would have to pay so they retracted their bid.  We are currently negotiating a private sale of the diamond."

This follows news that a platinum and diamond ring surpassed its estimate by some £105,250 in a recent John Moran Auctioneers auction