World: Patek Philippe watch sells for record $31 million at auction - - PressFrom - US
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World Patek Philippe watch sells for record $31 million at auction

11:05  12 november  2019
11:05  12 november  2019 Source:   cnn.com

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The Patek Philippe Grandmaster Chime reference 6300A-010 is the world's most expensive watch , [+] selling for $ 31 - million at an Only Watch auction . The previous record for the world’s most expensive wristwatch was Paul Newman’s Paul Newman Rolex Daytona, which sold for

A Patek Philippe timepiece sold for $ 31 million , the highest price for a wristwatch in auction , at a charity sale run by Christie’s in Geneva. The steel Grandmaster Chime went under the hammer after a 5-minute bidding war in a packed room of more than 300 people. The watch beat the previous record

a clock in the middle of a watch: A Patek Philippe watch has sold for a record-setting $31 million at auction.© Christie's A Patek Philippe watch has sold for a record-setting $31 million at auction.

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 specially for Saturday's auction in Geneva to raise money for research into Duchenne muscular dystrophy, according to Christie's.

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."

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The bidding started at 5 million CHF (approximately million ) and by the time it was over, a new world record had been set for the highest price paid for any watch sold at auction The reason the Patek Philippe sold for so much was that it was for charity, according to the Earl of Snowdon

The CHF 31 - million Patek Philippe Grandmaster Chime reference 6300A-010 set the record for the [+] world's most expensive watch . The Only Watch auction has been held biennially since 2005, with 100% of proceeds going to benefit research towards a cure for Duchenne muscular dystrophy, a

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 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.

The previous record for 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 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.

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