New Delhi: A Patek Philippe wristwatch sold for over $11 million at auction nine years ago, in 2016, becoming one of the world's most expensive wristwatches. Now, this watch has set another record. Auctioneer Philippe announced on Sunday that it has sold for $17.6 million (approximately Rs 156 crore) at a new auction, a new record. According to a report by the news agency AFI, this watch was made in 1943 and its product name is the Patek Philippe Perpetual Calendar Chronograph Reference 1518. A total of 280 watches of this model were made, but only four of them are made of stainless steel, the rest are made of gold. Stainless steel watches are in higher demand than other gold watches, which is why they command the highest price at auction. The watch currently being auctioned was the first of the four stainless steel watches to be made. Its record as the world's most expensive wristwatch was broken in 2017 when Hollywood star Paul Newman's Rolex Daytona surpassed it, fetching $17.8 million. It was then surpassed in 2019 by a Patek Philippe Grandmaster Chime, which sold for $31 million. However, the sale of this stainless steel 1518 at auction last weekend further cements its status as "one of the most historically significant wristwatches ever sold," the auctioneers confirmed. Phillips said the auction took less than nine and a half minutes, with five parties bidding. It was ultimately sold to a party who bid by telephone. Several prominent collectors, dealers, and watchmakers were present in the room at a Geneva hotel to witness the auction.
