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One pricey timepiece
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A stainless steel Patek Philippe watch has sold for a record US$11 million in Geneva, an auction house this week.
The piece from the Swiss company’s 1518 series sold on Saturday for 11,002,000 Swiss francs following a 13-minute bidding war, according to a statement from Phillips, a leading watch auction firm based in London.
When Patek Philippe introduced the 1518 series in 1941, they were the first-ever perpetual calendar chronographs, meaning they were the first timepieces that had both a stop-watch function as well as a calendar.
The piece sold on Saturday was made in 1943, Phillips said, calling its sale price “a new world record for any wristwatch at auction.”
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