The Most Expensive Patek Philippe at Auction
The Most Expensive Patek Philippe at Auction
Sylvester Stallone's Grandmaster Chime sold at Sotheby's for $5.4 million is the new 16th most expensive Patek Philippe watch, here are all the others
Sotheby's on Wednesday, June 5, 2024 sold at auction 11 watches belonging to actor Sylvester Stallone's personal collection, among them a Grandmaster Chime 6300G-010 in white gold, still preserved in its seal.
The actor’s watches totaled USD 6.7 million with Patek's ultra-complicated model taking center stage, eventually selling for USD 5.4 million (CHF 4,85 million) to an Asian collector (watch's initial valuation was USD 2.5-5 million) and becoming the third most expensive watch sold in Sotheby's auction history.
The auction result allows this lot to become the 16th most expensive Patek Philippe wristwatches ever sold at auction, surpassing the Mono-Pusher Chronograph (Ref.130) auctioned for USD 4,98 million by Phillips in 2015. Here all the others.
15. Patek Philippe (Ref. 2523/1) - CHF 4,99 Million
Among the models that have made Patek Philippe's history, in addition to the perpetual calendar chronographs, is definitely the World Time.
Specifically, reference 2523 is one of the most important in this collection and one that will fall within this classification several times.
The lot features a rose gold case and guillochè dial and was made in only 4 examples, two of which are kept in the Patek museum in Geneva while the watch in the photo was offered at auction for the first time during this very event reaching the amount of USD 5.5 million (CHF 4,99 million).
14. Patek Philippe (Ref.96) - CHF 5,61 Million
Perhaps one of the most talked-about models of the past year. This Patek 96 is not only highly sought after because it is the first Calatrava with triple calendar and moon phases, but it is so famous because it belonged to Aisin-Gioro Puyi, the last emperor of the Chinese Qing dynasty.
The price obtained at Phillips' auction in March 2023 is consistent with the extraordinary importance of this watch in both collector and historical terms.
13. Patek Philippe (Ref. 5711/1A-018) - CHF 5,98 Million
During 2021, at the height of the secondary market boom, Patek Philippe surprisingly announced that the 5711 would be discontinued. To say goodbye to this reference, the maison prepared a configuration with an olive green dial and this limited edition launched in December of that year.
The edition was born as part of the collaboration with Tiffany & Co: the watch was created to celebrate the 170 years of long collaboration between the Swiss watchmaker and Tiffany, which is why only 170 pieces were created, and number 1 went to auction at Phillips and was sold to collector Zach Lu (the same collector who also bought one of the watches among the top positions) for USD 6.5 million (CHF 5,98 million).
12. Patek Philippe (Ref. 5208T) - CHF 6,20 Million
For Only Watch Patek Philippe always creates absolute masterpieces one is the 5208T which occupies 12th place, but we will also find others further down the list.
Sold at auction in 2017, this watch is created on the basis of the 5208 perpetual calendar chronograph and minute repeater, but it has the distinction of being made of titanium, a material that the company uses on very few rare occasions.
11. Patek Philippe (Ref. 1527) - CHF 6,26 Million
This 1527, from 1943, features the complications of perpetual calendar, moon phases and chronograph and is the only example of its kind in the world.
This one-of-a-kind watch was sold in 2010 at Christie's for 6.26 million Swiss francs; unfortunately, a photo of the lot is not available on the website.
10. Patek Philippe (Ref. 1415HU) - CHF 6,9 Million
In tenth place we find the reference preceding the 2523, the 1415HU, produced between 1939 and 1954. The case size is 31mm, to date it appears rather small, but respects with the fashion of those years. There is no precise number on the total number of 1415 produced, however rather small, but among them is a unique piece with a platinum case (the one you see in the photo).
The lot went to auction in 2002 at Antiquorum in Geneva, and after a fierce battle it was sold for CHF 6.9 Million, a figure that was then the record as the most expensive watch sold at auction, by Lee Kun-hee president of Samsung.
In 2021 it then reappeared at auction cha Christie's in Hong Kong realizing HKD 14.65 Million (CHF 1.7 million).
9. Patek Philippe (Ref. 5016A) - CHF 7,3 Million
Patek has made significant use of steel especially in the unique pieces made for Only Watch, making a total of 4. This material is so sought after by collectors that 3 of these pieces are part of this ranking.
The 5016A, made for the 2015 auction was produced by the maison between 1993 and 2011 and for a time was the most complicated watch ever produced by Patek, thanks to the presence of tourbillon, minute repeater and perpetual calendar with retrograde indication. Four years after it went out of production, the company decided to create this latest variant with a blue dial just for the famous charity auction.
Obviously, the auction price was extremely high at CHF 7,300,000, the highest of all the lots present. The result is even more important if we note that the total amount raised in the auction was CHF 11,000,000, so the 5016A contributed 66% to the final result.
8. Patek Philippe (Ref.2499) - CHF 7,18 Million
In 2022 in Hong Kong Sotheby's sold the most expensive 2499 ever. Within the auction was sold what is dubbed as the “Nevadian Collector” a private vintage watch collection of 38 iconic timepieces (the vast majority of which are Patek Philippe), tracing the “golden years” of watchmaking development from the 1940s to the 1980s.
This lot is part of the second series of reference 2499 and dates back to 1957. What also makes it so special is the signature of the Milanese dealer Gobbi. An estimated nine examples of the second series were made in rose gold; this is the only one that is also double signed. At auction the watch went for HKD 60 million (USD 7.68 million).
In May 2007 this 2499 had already appeared at auction at Christie's in Geneva and sold for a record CHF 2.7 million, making it the world record price for a reference 2499.
7. Patek Philippe (Ref.2523) - CHF 7 Million
In seventh place is the second 2523 on the list.
This model is named the “Silk Road,” it was the first of its kind with a cloisonné dial depicting Eurasia. The sale, held in Geneva, for the Geneva Auction XII in 2021, recorded the amount of USD 7,81 million (CHF 7 million).
6. Patek Philippe (Ref.2523) - CHF 8,84 Million
As proof of the importance of this complication for Patek, we find a World Time (Ref. 2523) also in sixth place. What makes this watch special is the presence of the blue enamel dial; only two examples with this feature exist. As if this were not enough, the lot is double signed, it is the only known reference 2523 to be double signed with both Patek Philippe's signature and that of the prestigious Milanese dealer Gobbi.
This Word Time was sold at Christie's in Hong Kong in 2019, for HKD 70.17 Million (USD 9 Million).
5. Patek Philippe (Ref.1518) - CHF 8,725 Million
Fifth on the list of most expensive Patek at auction is the 1518 with rose gold case and salmon dial sold by Sotheby's in 2021 in New York for USD 9.57 million.
This reference is of fundamental importance to Patek and to watchmaking history. Introduced in 1941, the 1518 was the first wristwatch with a perpetual calendar and chronograph, the model from which all the maison's other iconic references were later derived.
In addition to having belonged to Egypt's Prince Mohammed Ali Tewfik, this watch was so prized for its extreme rarity. In fact, although an estimated 300 examples of this reference were made, only 55 units feature a rose gold case, and of these only 14 feature the configuration in combination with the salmon dial (also known as “pink on pink). In addition to this, the perfect state of preservation of this timepiece, and the presence of the original warranty, contributed to its skyrocketing valuation.
4. Patek Philippe (Ref.5270T) - CHF 9,7 Million
In fourth place, on the other hand, we find a modern watch made by Patek for the “Children Auction 2022” charity auction. In this case it is a unique piece made from the 5270, the perpetual calendar chronograph that is still in production, but made special thanks to the titanium case, a material that the maison uses very rarely and that until now had never been conceived for that reference. An additional factor of interest is surely also the emerald green color of the dial, a rather unusual shade for a “traditional” brand like Patek.
When this timepiece was unveiled it generated a loud clamor among enthusiasts, and its valuation at auction was consistent with the great attention it attracted. In fact, it went for as much as CHF 9,7 million (USD 9,81 million).
3. Patek Philippe (Ref.1518) - CHF 11 Million
Returning instead to a vintage model, in third place on the list we find another 1518, this time in steel auctioned in Geneva during 2016 by Phillips for the figure of CHF 11 million (USD 11,13 million).
If the “pink on pink” was made in 14 pieces, the 1518 with a steel case is even rarer as only four pieces were made. This model is definitely one of the most coveted by most collectors because it perfectly embodies the combination of extreme rarity and historical importance. The result obtained was stratospheric, so much so that it became the most expensive wristwatch ever sold at auction. The record has since been broken on two occasions: the first a few days ago with the 6301A during OnlyWatch, while the other time was in 2019 when the watch that still holds this record, the Grandmaster Chime 6300A-010, was beaten.
2. Patek Philippe (Ref.6301A) - USD 15,7 Million
Among the many watches that were sold during last May auction week in Geneva, the most talked about was definitely the Patek Philippe 6301A awarded at the Only Watch for the sum of CHF 15,7 million (USD 17,26 million) .
As I told you in the last article:
What immediately catches the eye is the dial made of smoky blue sapphire crystal embellished with a spiral guillochè motif and hour markers made with baguette-cut diamonds. The case back is engraved with the inscription “Only Watch 2024 - Pièce Unique,” and the open case back allows you to admire the 30-255 PS LU caliber with a power reserve of about 65 hours. In addition to the fantastic aesthetics this watch adds the elegant complication of grand and petite sonnerie, all enclosed by a steel case, which is by far the most sought-after material for Patek Philippe collectors and widely used to make OnlyWatch models.
The achievement of the 6301A is such that it has become the second most expensive Patek Philippe sold at auction, but even going down a few positions in classical we cannot but find some of the most coveted watches ever.
1. Patek Philippe (Ref.6300A-010) - USD 31,19 Million
This reference, was introduced by Patek in 2014 to commemorate its 175th anniversary and then entered the current collection in 2016 with a white gold version. It is Patek Philippe's most complicated wristwatch, with as many as 20 complications, including five sound functions. Thus we find a second time zone, day/night indicator, minute repeater, large and small chime, date and day of the week, manual leap year display, and other complications that would fill a few more lines.
We are looking at an object that has never been made in the history of wristwatchmaking, a masterpiece of manufacture and watchmaking with a truly incredible technical level, and it is no coincidence that Patek itself stated that it takes about 100,000 hours of work to make it.
In addition to the extreme technical difficulty in making such a timepiece, the 6300A is a one-of-a-kind piece made for OnlyWatch 2019, thus an object of absolute rarity, as well as featuring a steel case, the most coveted material for a Patek.
This timepiece was a stunning success, reaching a record CHF 31 million at auction, becoming the world's most expensive watch sold at auction, surpassing Paul Newman's Rolex Daytona (Ref. 6265) sold for USD 17.7 million at Phillips and the Patek Philippe Henry Graves Supercomplication (Ref. 198.385) sold for USD 24 million in 2014 at Sotheby's.
Who knows what watch will be next to enter this particular ranking and when.
Check out our real-time auction results and see prices from past sales by visiting our Auction page!
Results available on the auction houses' websites were used to compile this ranking, with Swiss francs (CHF) as the reference currency. When prices were available in other currencies, they were converted to Swiss francs using the exchange rate at the time of the auction.
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