Global, Luxury, News

Rare Wristwatch Fetches Record Auction Price

Rare Wristwatch Fetches Record Auction Price

A rare Patek Philippe watch became the most expensive wrist watch sold in an auction as it was sold for $11 million at a sale in Geneva. The watch, one of the only four known to exist was sold for more than three times the $3 million estimate. New York and London-based Phillips opened the Geneva fall watch auction season Saturday and Sunday, raising 27.5 million francs ($28 million).

“A rare Patek Philippe watch became the most expensive wrist watch sold in an auction as it was sold for $11 million at a sale in Geneva.”

~Bloomberg

The previous record price for a wristwatch in auction was a $7.3 million Patek Philippe sold by Phillips last November.

Related Reports: Bloomberg, Forbes

 

About Patek Philippe

Patek Philippe has been perpetuating the tradition of Genevan watchmaking without interruption since May 1, 1839. As the last family-owned independent watch manufacturer in Geneva, it enjoys total creative freedom to entirely design, produce and assemble what experts agree to be the finest timepieces in the world – following the vision of its founders Antoine Norbert de Patek (1839) and Adrien Philippe (1845). Thanks to its exceptional know-how, Patek Philippe maintains a tradition of innovation hailed by an impressive repertoire of more than 80 patents

Visit: Patek Philippe


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