Sold out: The £150,000 watch that doesn't tell the time

A £150,000 designer watch that doesn't even tell the time has sold out within hours of going on sale.

The timepiece - called "Day and Night" - is encrusted with sapphires, has a crocodile skin strap and is made from steel salvaged from the wreck of the Titanic.

It looks like any normal watch but instead of numbers the face is divided into two sections - a dark half to signify night and a lighter half to signify the day.

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A limited number were made by Swiss manufacturers Romain Jerome and they sold out within 48 hours after Brazilian footballer Ronaldo was given the first one.

Romain Jerome, who are based in Geneva, would not reveal who the other customers were other than to say they were "very rich clients, who have taste for the luxurious."

They describe the timepiece as a "world unique - a watch that does not tell the time."

The firm added: "With no display for the hours, minutes or seconds the Day&Night offers a new way of measuring time, splitting the universe of time into two fundamentally opposing sections: day versus night.

"A new interpretation of Time based around two Tourbillons (watch mechamisms) operating sequentially.

"The Day Tourbillon operates during the day, defining the wearer's period of activity, and stops after twelve hours, handing over to the Night Tourbillon dedicated to man's own private sphere.

"An avant-garde approach, that is different and even disturbing."

Romain Jerome's chief executive Yvan Arpa, said: "The Day and Night is a reflection of the time philosophy of today's wealthy.

"When you ask people what is the ultimate luxury, 80 per cent answer 'time.'

"Then when you look at other studies, 67 per cent don't look at their watch to tell what time it is.

"Anyone can buy a watch that shows time but only a discerning customer can buy one that doesn't show time. Many wealthy people buy a watch with complicated mechanisms and don't know how they work."