Auction records set by another Patek Philippe timepiece

It seems as though there isn’t a week that goes by where Patek Philippe movements aren’t making the headlines. This week is no different, following the latest news that a Patek Phillipe stainless steel watch realised a record £4.82 million at an auction in Geneva at the weekend (November 7-8).

A Patek Philippe logo, antique pocket watches for sale at Pieces of Time

The Swiss watch, which had been listed with an asking price of just£462,000-£594,000 sold on Saturday for £4.82 million, following an almost ten minute to and fro of intense bidding from twoanonymous telephone bidders.

The sale of the timepiece was the highest price ever paid for a wristwatch at auction, it was revealed in a statement. In a rather fitting tribute to the works of Patek Philippe, once the final bid was won, the sale was met bya standing ovation in the room at the luxury La Reserve Hotel in Geneva. And what’s more, the proceeds are going to charity.

The Patek Philippe piece, features manual winding, minute repeater andperpetual calendar with moon-phase display, and was a standout piece from the 44 unique movements created for the “Only Watch” auction by luxury watchmakers and jewellers,including Patek Philippe, Piaget, Blancpain, Harry Winston, and Chanel.

In total, the auction took £7.39 million.

All the proceeds of the charity auction will be going towards research into Duchennemuscular dystrophy (DMD).

If you’re inspired by the world of vintage timepieces then why not take a look at the antique pocket watches for sale on offer at Pieces of Time?

 

Image: Ihor-docenko under Creative Commons.

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