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Luxury Patek Philippe watch sells for a record $31 million

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The Grandmaster Chime 6300A-010

A watch by Swiss luxury brand Patek Philippe has sold for over $31 million, the highest price ever paid for a timepiece at auction.

The Grandmaster Chime 6300A-010 has never been worn , it was created especially for Saturday’s auction in Geneva to raise money for research into Duchenne muscular dystrophy, according to Christie’s.

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It is the only version of the timepiece ever produced in stainless steel and the alarm sub-dial is marked with a special inscription, “the only one.”

The watch has a reversible case in black and rose gold, 18-karat solid gold dial plates and is fixed with a band made of black, hand-stitched alligator leather.

It also includes all the features one might expect of the luxury timepiece: gold Breguet numerals, a hand-guilloched hobnail center, a year display and a plethora of sub-dials.

Its sale on Saturday to a mystery buyer for 31 million Swiss francs, or $31.1 million, promotes it to a highly exclusive club.

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The previous record for the most expensive timepiece was set by a 1932 Patek Philippe watch, which sold for 23.2 million Swiss francs ($24 million at the time) to an anonymous buyer at a 2014 auction at Sotheby’s in Geneva.

Saturday’s sale also broke the previous record for the most expensive wristwatch, which was set in 2017 by a Rolex Daytona that had been owned by the late American actor Paul Newman.

That watch sold for a record $17.8 million after a 12-minute bidding war at Phillips auction house.

In total, 50 lots were auctioned off in Saturday’s sale, raising 38.6 million Swiss Francs ($38.8 million) for Duchenne muscular dystrophy, a genetic disorder which causes progressive muscle degeneration.

Source: CNN Style

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