Connect with us

Headlines

Patek Philippe Watch Sells for $11M — a World Record

It was made in 1943.

mm

Published

on

A Patek Philippe Reference 1518 in stainless steel has sold for $11 million, a world record price for any wristwatch at auction.

The purchase was made at Geneva Watch Auction: FOUR, which ran Nov. 12-13. A total of 177 watches were sold for a total of about $27.8 million, according to watch auction house Phillips in Association with Bacs & Russo.

The rare Patek Philippe watch “captivated the saleroom and ignited a bidding war of 13 minutes,” according to Phillips. It’s a perpetual calendar chronograph watch with moon phase that was made in 1943.

“Its world record result is a strong testimony that the watch market is universally accepted as an important pillar of the international art collector community, and that Phillips’ strategy focusing on watches of the finest quality is the winning formula,” said Aurel Bacs, senior consultant with Phillips.


Read the full press release

Advertisement

Patek Philippe Watch Sells for $11M — a World Record

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

Promoted Headlines

Most Popular