The jeweler is celebrating its 25th anniversary with a throwback campaign.
Patek Philippe Watch Sells for Record-Breaking $31M
Meet the world’s most expensive timepiece sold at auction.
At the Nov. 9 Only Watch auction held at Christie’s Geneva, the Patek Philippe Grandmaster Chime reference 6300A-010 in stainless steel sold to an undisclosed bidder for 31 million Swiss francs ($31.3 million).
It’s the highest price garnered for any watch at auction, beating out Patek’s Henry Graves Supercomplication, which sold for $24 million at Sotheby’s Geneva in 2014, and the Rolex Daytona that once belonged to Paul Newman, which sold for $17.8 million at Phillips New York in October 2017.
It also has a reversible case, with one dial in rose gold and the other in black ebony.
Unlike its predecessors, the Patek Philippe Grandmaster Chime’s record-breaking hammer price benefitted charity.
Only Watch founder Luc Pettavino, previously the organizer of the Monaco Yacht Show, which counts many timepiece brands as sponsors, created the auction in honor of his son, who died from the disease.
Prior to Saturday’s sale, the organization had raised more than 35 million euros ($38.5 million) since its inception in 2005, Pettavino told Monochrome Watches.
Thanks to the Patek Philippe Grandmaster Chime, the most recent Christie’s Geneva auction doubled that number, totaling CHF 38.6 million ($40 million).
In total, 50 one-of-a-kind timepieces were donated and auctioned in the sale, which lasted more than two hours.
Following the Only Watch auction were a number of Christie’s Geneva sales this week, including Magnificent Jewels, which saw a 7.03-carat fancy deep blue diamond garner CHF 11.6 million ($11.7 million) to earn the top lot spot.
Christie’s Rare Watches sale, meanwhile, totaled CHF $12.7 million ($12.8 million), with the Henry Graves Patek Philippe made to his specific recommendations in 1972 selling for CHF 4.6 million ($4.62 million).
The Latest
“Memorie D’Archivio” was inspired by the “Mora” and “Mosaico” collections the brand introduced in the ‘90s.
CEO William Lamb said divesting the diamond sales platform allows the company to focus on the underground expansion of Karowe.
This fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
It features 124 jewels and a variety of colored gemstones.
Ahead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
The ads celebrate the mall culture of the ‘80s and ‘90s.
Don't miss this one-stop-shop in October, curated with buyers’ needs in mind.
Retail sales associates can access the video series on mobile to refresh their selling skills.
For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
Commercial production has begun underground at the Canadian diamond mine’s A21 pipe.
Deloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
The Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities.
The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
A portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
The first in what is slated to be a series of in-depth reports from the consulting company, it focuses on shortening supply chains.
The company said Benjamin Clymer will return to his role as head of the watch news website, which will maintain editorial independence.
A strong economy, a growing middle class with an affinity for brands, and rapid expansion of organized retail have fueled the market’s rise.
The industry veteran is also the president-elect of the Women’s Jewelry Association.
Slither into spooky season with this scary snake ring that boasts two heads with tsavorite eyes.
Plus, how to apply for emergency funds and donate to recovery efforts.
Ladell Tharpe, 39, took part in a 2022 jewelry store robbery and then posted pictures of cash on Instagram with the text “Robbery Gang.”
The trade organization welcomed Sheryl Jones to its board of directors for a three-year term.
New Chief Marketing Officer Berta de Pablos-Barbier has worked for LVMH’s champagne brands and Kering-owned Boucheron.
Transition to fall with this month’s birthstones of opal and tourmaline.
Sotheby’s will auction jewelry belonging to the “Diamonds Are Forever” singer Oct. 10 in Paris.