Patek Philippe watch auctioned for USD 31 million

Geneva: A one-of-a-kind Patek Philippe watch sold for $31 million (Rs 222 crore) at a charity auction in Geneva, making it the most expensive wristwatch ever auctioned.

The Patek was sold as part of the Only Watch auction held by Christie's on Saturday to benefit research on Duchenne muscular dystrophy. For the sale, watchmakers including Patek, Audemars Piguet and F.P. Journe created and donated one-of-a-kind watches, which are coveted by top watch collectors around the world.

The fact that the sale was for charity helped boost the bidding prices, according to the auctioneers, CNBC reported. The buyer of the watch has not been identified.

The Patek Philippe Grandmaster Chime reference 6300A-010 is the only one of its kind that will be made in stainless steel. It has 20 complications, including a grande and petite sonnerie, a minute repeater, instantaneous perpetual calendar with a four-digit year display, second time zone, and 24-hour and minute subdial.

The watch's most unique feature is front and back dials - one salmon coloured, the other black - that can be flipped or reversed.

The steel Patek Philippe Grandmaster Chime Ref. 6300A-010 smashed the previous record for an auctioned watch - the $17.7 million fetched in 2017 for the Rolex Daytona once owned by Paul Newman.