The timepiece was part of the Important Watches sale on Friday.

Nasser's grandson, Gamal Khalid Gamal Abdel Nasser, offered the Rolex Day-Date at the internationally renowned auction house. The pre-sale estimate was $30,000 to $60,000 (nearly EGP 1.4 million to EGP 2.9 million).

Nasser led the 1952 revolution that toppled Egypt's British-backed monarchy, reshaping the country's political landscape and influencing the Arab world. He ruled Egypt from 1954 until he died in 1970.

The yellow-gold automatic wristwatch was a gift from President Anwar El-Sadat in 1963.

El-Sadat, who succeeded Nasser as President of Egypt in 1970, gave the watch as a token of their long-standing friendship, marked by deep political and personal ties.

The Rolex Day-Date, often dubbed the "President's Watch," was introduced in 1956 and exclusively crafted in precious metals.

It gained its nickname due to its association with world leaders and influential figures who valued its iconic day and date display, making it a symbol of power and prestige. 

The watch features Hindi numerals and script and bears the Arabic inscription "Mr Anwar El-Sadat 26-9-1963" on its back.

President Nasser can be seen wearing the watch in photographs taken that date until 1970.

According to Nasser's grandson, the watch was given to his father, Khalid, by his grandmother, Taheya Kazem, and then he inherited it after Khalid died in 2011.

"Growing up, we learned of how modest President Nasser was, rejecting to live an extravagant life of wealth and materialism," the grandson added in a letter accompanying the watch's offer.

Having never owned a house, and with his few material possessions donated by the Nasser family to his namesake museum in Cairo, this Rolex Day-Date remains his only possession outside of the museum collection.

Millions of mourners attended Nasser's funeral, which remains one of the biggest funerals in history.