Christie's sells rare Patek Philippe watch for $5.7m World Record



2015-06-26 12:00:54

Christie's sells rare Patek Philippe watch for $5.7m World Record

This 'unique and historically important' timepiece is the most expensive yellow-gold watch ever auctioned

A one-of-a-kind Patek Philippe from 1943realised the second-ever highest auction price for a wristwatch at the Christie's sale of Important Watches held in Geneva, on May 10.

According the Christie's the watch sold for CHF 6,259,000 ($5,708,885), including buyer's premium. The sale also makes it the all-timemost valuableyellow-gold wristwatch sold at auction.

Stamped with the Geneva seal, the 18k gold perpetual calendar chronograph's features include Moon phases and atonneau-shaped case. It is signed Patek Philippe & Co.

Billed as "unique and historically important," the watch's final price more than doubled its pre-auction estimate of roughly $1.4m-2.25m.

Historical Patek Philippe The sale was the first time this Patek Philippe, Genve, ref. 1527 has appeared on the market in 20 years

The successful Christie's auction - whose total sales grossed 23,133,362 CHF (more than $20m) -was the first time in 20 years that the 37.6 mm diameter watch had appeared on the market.

Antiquorum, another leading auctioneerbased in Geneva, can still claim the World Record price for a wristwatch. It sold a Patek Philippe for the now-equivalent of $6.6m in 2002.

Meanwhile, the auction record for the most expensive auctioned timepiece ever sold is held by a pocket watch: the Patek Philippe Supercomplication. It brought $11m at Sotheby's in 1999.

All price translations are shown in US dollars.

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