Wristwatch fetches record $7.3m
08 November 2015, Nirapad News: A unique Patek Philippe stainless steel watch fetched a record $7.3 million when it went under the hammer in Geneva Saturday, with the proceeds going to charity, the auction house said.
The watch, which had been listed with an asking price of only 700,000-900,000 Swiss francs had sold for 7.3 million Swiss francs ($7.3 million, 6.7 million euros) after nine minutes of intense bidding by two anonymous telephone bidders, the Phillips auction house said.
That is “the highest price ever paid for a wristwatch at auction,” it said in a statement, adding that once the hammer fell the sale had been greeted by a standing ovation in the room at the luxury La Reserve Hotel in Geneva.
The Patek Philippe piece, with its manual winding, minute repeater and perpetual calendar with moon-phase display, was one of 44 unique timepieces created for the “Only Watch” auction by luxury watchmakers and jewellers, including Blancpin, Harry Winston, Piaget and Chanel.
In total, the auction raked in $11.2 million (10.3 million euros), Phillips said.