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The Patek Philippe Grandmaster Chime Watch Sold for $31 Million

When the gavel finally came down at a recent auction, one person walked away with a one-of-a-kind timepiece that will never be duplicated, and someone else walked away $31 million richer.

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The crown jewel of the collection at the Only Watch auction in Geneva on November 9, was on offer as part of Lot 28. Although the Patek Philippe Grandmaster Chime was expected to go for a high price, speculation was running rampant that the timepiece may not exceed the previous sales record set by the auction of the Rolex Daytona which had been owned by the iconic Paul Newman. That Rolex Daytona sold for $17.7 million just two years ago, in New York.

But the bids came in fast and furious and when the dust cleared, the Ref. 6300A-010 Patek Philippe Grandmaster Chime sold for a record-breaking $31 million.

A description posted on the auction house’s website spells out exactly why this unique wristwatch might demand such a sky-high selling price, pointing to a stainless steel frame with “two dials in rose gold and black ebony.” The reversible case is “adorned with a hand-guilloche hobnail pattern,” and also features a patented reversing system. The auction listing dives deeper into the details surrounding the one-of-a-kind artifact.

“This exceptional grand complication features 20 complications in its stainless steel case, including no fewer than five chiming modes, two of which are patented world firsts: an acoustic alarm that strikes the preselected time and a date repeater sounding the date on demand.”

The Grandmaster Chime is also famous for the immense amount of technical skill involved in its creation — after all, the watch contains a perpetual calendar, the ability to work with a second time zone, and for the fact that the brand itself has developed a reputation for excellence.

The best part? The proceeds from the highly esteemed auction went to charity in support of research into treatments (and perhaps a cure) for muscular dystrophy. 

According to the founder of the Only Watch charity auction, Luc Pettavino, “Breaking records is obviously a source of pride and happiness. What matters most today is the difference we are going to be able to make in research against muscular dystrophies and for hundreds of thousands of patients and families around the world for their lives to get better.”

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via https://www.DMTBeautySpot.com

Christina Majaski, Khareem Sudlow