Patek Philippe is at it again, sets wristwatch sale record

This Patek Philippe 5016A i has set a record for the most expensive wristwatch ever sold

Patek Philippe is having a damn good year. At the start of last November, the legendary watchmaker set a record when its 1932 Supercomplication watch sold in Geneva at auction for 20.6 million Swiss francs, roughly $21.5 million. That is still the record for a watch sale.

The Henry Graves Supercomplication
The Henry Graves Supercomplication

But now Patek Philippe has done it again, selling a one-of-a-kind wristwatch for 7.3 million Swiss francs or roughly $7.26 million. That is the most ever paid for a wristwatch publicly, according to Bloomberg.

The watch was sold as part of the 2015 Only Watch auction, an annual event held to raise money for Duchenne Muscular Dystrophy. This year, Patek contributed “a one-of-a-kind stainless steel reference 5016,” featuring “a grande complication that includes a tourbillon, minute repeater, and retrograde perpetual calendar all in a small, wearable package.”

Still, more than $7 million for something made out of stainless steel seems pretty wild to us. That’s because it is. The watch was estimated to sell for 700,000 to 900,000 Swiss Francs. It sold for more that 10 times that amount. That’s mighty charitable!