This $31.1 Million Patek Philippe Is Now the Most Expensive Watch Ever Auctioned

patek philippe

How’s this for exclusive: On Saturday, Christie’s auctioned off a one-of-a-kind, never worn Patek Philippe watch, and the luxury timepiece sold for a record-breaking 31 million Swiss francs, or $31.1 million. That’s the highest price ever paid for an auctioned timepiece, and it beats the previous record by roughly $7.8 million, according to CNN.

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The watch, a Patek Philippe Grandmaster Chime 6300A-010, was specially made for this auction. According to a statement from Christie’s, it’s the only version of the timepiece ever produced in stainless steel, and it’s reversible, featuring two dial plates made from 18-carat gold with gold applied Breguet numerals on the time side. There are 20 complications in total, including five chiming modes, a day/night indicator, and day/date on both dials. The case measures 47.7mm in diameter, and it’s held in place with a sleek black hand-stitched alligator leather band. And just in case you forget how rare this ticker is, it’s marked with the inscription “the only one.”

patek philippe

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An anonymous buyer purchased the watch on Saturday, and the final sale blew past the watch’s estimated price of $2.5 to $3 million, according to data from Christie’s. Interestingly, the previous record was also held by a Patek Philippe watch: That went to a vintage model made in 1932 that sold for 23.2 million Swiss francs in a 2014 Sotheby’s auction, CNN reports.

The Grandmaster was one of 50 timepieces auctioned during Only Watch, a biannual event to raise money for research into Duchenne muscular dystrophy, a genetic disease that causes muscle deterioration. Overall, the event raised over $38 million for the cause—the bulk of it coming from just one ultra rare, incredibly expensive watch.

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