A Patek Philippe Grandmaster Chime Ref.6300A watch, the only one of its kind, set a record for the most expensive wristwatch when it sold for US$31 million (£23.78 mil) at the 'Only Watch' charity watch sale in Geneva last month. The previous record for the most expensive wristwatch was held by Paul Newman's Rolex Daytona, which sold for US$17.7 million (£13.58 mil) in 2017. The world's most expensive pocket watch is the Philippe Patek Supercomplication manufactured for Henry Graves Jr. in 1920 that achieved US$24 million (£18.41 mil) at Sotheby's in 2014.
This Grandmaster Chime part number 6300A-010 was made specifically for Only Watch, and represents 80% of the total sale. Organised this year by Christie's, the charity auction has been held every two years since 2005, and 100% of its proceeds go directly to research on Duchenne muscular dystrophy, a genetic disease that affects children. The event, which has raised more than US$40 (£30.68 mil) million to date, was launched by Luc Pettavino in honor of his son Paul, who died of the disease in 2016.
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Each year, the 50 participating watch brands donate a unique model, which is sold without commission or reserve price. "Brands open their hearts by donating the fruit of their work," said Pettavino at the opening of the sale. "Only Watch is about creating beauty to do a good action."
From Patek's 2016 collections, the Grandmaster Chime is the most complex model of the brand's complicated watches: it features 20 complications, 5 acoustic functions, including two patented, a preprogrammed alarm, and can ring the date at the request. The copy that was presented for sale is the only one to have been manufactured in stainless steel, and in addition to its countless functions (date display, two time zones, day and night indicator, display cycle leap years...) is a reversible model with dials at the front and back.
The case decorated with 'Clous de Paris' guilloché hand houses two dials pink gold and black ebony, one of which (the pink) bears the inscription 'The Only One' to recall the exclusivity of the model. To protect the watch from potential damage caused by unintentional mishandling, Patek has incorporated isolators that can interrupt the flow of energy between individual mechanisms or block certain functions while others are still active.
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Seven limited edition Grandmaster Chimes were presented in 2014 on the occasion of the brand's 175th anniversary. This is the most complicated watch produced by Patek Philippe and the most exclusive.
"We wanted to transform the heavy energy of a severe pathology into something positive – into hope! The best way to do that, is to create something beautiful and I truly believe that you can also do something good, while you are enjoying yourself. Only Watch is not about one person, one auction house, one brand, or even one industry. So many people contribute to this success, all of whom are motivated by a sense of altruism, empathy, and philanthropy," said Pettavino, who received the Jury Special Prize at the Geneva Watchmaking Grand Prix a few days after the sale.
The identity of the buyer has not been revealed.
