Headlines

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

It was made in 1943.

Published

7 years ago

November 17, 2016

INSTORE Staff

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

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

Wilkerson Testimonials

Wilkerson: “They Feel Like Family”

Newton’s Jewelers in Fort Smith, Ark., was a true institution. But after being at the helm for most of his life, owner (and descendent of the original founder) Kelly Newton decided it was time to retire. He chose Wilkerson to handle the sale. “I’ve known the owners of Wilkerson for a long, long time. I felt at home with them,” he says. The final retirement sale was just a “blast” and the Wilkerson sales team made it so very simple and straightforward, says Newton. Would he recommend Wilkerson to others? Absolutely. “They’ve done incredible work,” says Newton. “They feel like family.”