Photo: Patek Philippe
There’s something to be said about the power of a compelling story, and the latest example of that is in the record-breaking sale of a Patek Philippe watch that went under the hammer for $31 million at the weekend.
Initial estimates had the timepiece at $2.5 – 3 million, but the fact that it was being auctioned for charity drove the price up, Sabine Kegel, the head of Christie’s watch department in Geneva, tells The Guardian. This way, Patek Philippe Grandmaster Chime Ref. 6300A-010 has become the most expensive watch in the world, breaking the previous record set by the Rolex Daytona once owned by Paul Newman.
It’s a one-of-a-kind piece made especially for the Only Watch auction held by Christie’s to benefit research on Duchenne muscular dystrophy, at the Four Seasons Hotel des Bergues in Geneva. Grandmaster Chime stands out to be the only version of this watch made of stainless steel, requiring over 100,000 hours to put together, and including 20 complications in two reversible dials.
Each dial is made of 18-carat gold, one in salmon rose and the other in ebony black. “The Only One” is inscribed at 12 o’clock on the rose dial, which Patek Phillipe deems the “auxiliary” but which the industry considers as the most impressive of the two.
In addition to the 20 complications, Grandmaster Chime comes with five chiming modes, two of which are world-firsts: “an acoustic alarm which sounds at a preset time and a date repeater which can sound the date whenever the wearer wishes,” as the official description reads.
As Kegel puts it, this timepiece “does nearly everything except making coffee.” Well, coffee and deep water dives: it is protected against humidity and dust, but is not water-resistant. Assuming you’d want to take a $31 million watch on a dive.
The massive timepiece is set on shiny black, hand-stitched alligator leather, and will make the lucky owner incredibly proud. Speaking of, the new owner placed his bid over phone call and chose to remain anonymous.
Other watches presented for auction for Only Watch included rare, collectible timepieces from Audemars Pigue, Hublot, Montblanc, F.P. Journe and Richard Mille.
It’s a one-of-a-kind piece made especially for the Only Watch auction held by Christie’s to benefit research on Duchenne muscular dystrophy, at the Four Seasons Hotel des Bergues in Geneva. Grandmaster Chime stands out to be the only version of this watch made of stainless steel, requiring over 100,000 hours to put together, and including 20 complications in two reversible dials.
Each dial is made of 18-carat gold, one in salmon rose and the other in ebony black. “The Only One” is inscribed at 12 o’clock on the rose dial, which Patek Phillipe deems the “auxiliary” but which the industry considers as the most impressive of the two.
In addition to the 20 complications, Grandmaster Chime comes with five chiming modes, two of which are world-firsts: “an acoustic alarm which sounds at a preset time and a date repeater which can sound the date whenever the wearer wishes,” as the official description reads.
As Kegel puts it, this timepiece “does nearly everything except making coffee.” Well, coffee and deep water dives: it is protected against humidity and dust, but is not water-resistant. Assuming you’d want to take a $31 million watch on a dive.
The massive timepiece is set on shiny black, hand-stitched alligator leather, and will make the lucky owner incredibly proud. Speaking of, the new owner placed his bid over phone call and chose to remain anonymous.
Other watches presented for auction for Only Watch included rare, collectible timepieces from Audemars Pigue, Hublot, Montblanc, F.P. Journe and Richard Mille.
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