Luxury Watch Auction Records: The Most Expensive Timepieces Ever Sold
The world of luxury watches is a fascinating one, with collectors and enthusiasts vying for the rarest and most exquisite timepieces. Over the years, auction houses have seen some truly remarkable watches go under the hammer, fetching record-breaking prices. In this article, we’ll take a closer look at some of the most expensive luxury watches ever sold at auction.
The Patek Philippe Grandmaster Chime Ref. 6300A-010
The title of the most expensive luxury watch ever sold at auction belongs to the Patek Philippe Grandmaster Chime Ref. 6300A-010, which sold for an astounding $31.1 million (CHF 31 million) at a Sotheby’s auction in Geneva in 2019. This one-of-a-kind timepiece was created specifically for the auction to raise money for research into Duchenne muscular dystrophy. It features a reversible case, an 18-karat solid gold dial, and a hand-stitched alligator leather band.
The Patek Philippe Henry Graves Supercomplication
Prior to the sale of the Grandmaster Chime, the record for the most expensive watch was held by the Patek Philippe Henry Graves Supercomplication, a pocket watch that sold for $24 million (CHF 23.2 million) at a Sotheby’s auction in Geneva in 2014. This incredible timepiece was commissioned by banker Henry Graves Jr. in 1925 and took eight years to complete. It features 24 complications, including a perpetual calendar, a minute repeater, and a celestial map of New York City’s night sky.
Other Notable Luxury Watch Auction Records
While the Grandmaster Chime and the Henry Graves Supercomplication hold the top spots, there have been numerous other luxury watches that have fetched impressive prices at auction. Here are a few notable examples:
- The Rolex “Paul Newman” Daytona that sold for $17.8 million at a Phillips auction in 2017. This watch was owned by the late actor Paul Newman and is considered one of the most iconic and sought-after Rolex models.
- Patek Philippe Ref. 2499 perpetual calendar chronographs that sold for over $3 million each. These watches are known for their complexity and rarity, with only 349 pieces ever produced between 1950 and 1985.
- The Rolex Daytona “The End Game” Ref. 6270 that sold for over $4.1 million, setting a record for a gem-set Rolex Daytona. This watch features 48 baguette-cut diamonds on the case and a pave diamond dial.
- The Patek Philippe Nautilus Ref. 5711-1A-018 with a Tiffany blue dial that sold for $2.5 million. This limited edition watch was created in collaboration with Tiffany & Co. and features a unique blue dial with Tiffany branding.
These are just a few examples of the many luxury watches that have set records at auction. As collectors continue to seek out the rarest and most unique timepieces, it’s likely that we’ll see even more impressive sales in the future.
Luxury Jewelry Auction Records: The Most Stunning Gems Ever Sold
Just like luxury watches, the world of high-end jewelry has seen its fair share of record-breaking auction sales. From dazzling diamonds to rare colored gemstones, these pieces have captivated collectors and enthusiasts alike. Let’s take a look at some of the most expensive jewelry items ever sold at auction.
The “Pink Star” Diamond
The title of the most expensive jewelry item ever sold at auction belongs to the “Pink Star” diamond, a 59.60-carat fancy vivid pink internally flawless diamond that sold for $71.2 million at a Sotheby’s auction in Hong Kong in 2017. This stunning gem is the largest flawless fancy vivid pink diamond ever graded by the Gemological Institute of America (GIA).
The “Bleu Royal” Diamond
In 2023, the “Bleu Royal” diamond, a 17.61-carat fancy vivid blue diamond, sold for $43.8 million at a Christie’s auction in Geneva. This sale set a new record for the largest Internally Flawless Fancy Vivid blue diamond to ever be sold at auction.
The “Estrela de Fura” Ruby
The “Estrela de Fura” ruby, a 55.22-carat cushion-cut ruby, sold for $34.8 million at a Sotheby’s auction in New York in 2023, setting a new record for a ruby. This gemstone was unearthed in FURA Gems’ mine in Mozambique, showcasing the country as an emerging source of premium quality rubies.
The “Eternal Pink” Diamond
Also in 2023, the “Eternal Pink” diamond, a 10.57-carat fancy vivid purplish pink diamond, sold for $34.8 million at a Sotheby’s auction in New York. This sale set a new auction record for a purplish pink diamond and a new price-per-carat record for its color grade.
The “Apollo & Artemis” Earrings
In 2017, the “Apollo & Artemis” earrings, featuring a 14.54-carat fancy vivid blue diamond and a 16-carat fancy intense pink diamond, sold for $57.4 million at a Sotheby’s auction in Geneva. This sale set a new record for a pair of earrings sold at auction.
These remarkable jewelry pieces showcase the continued strong demand and record-breaking prices for rare colored diamonds and other exceptional gemstones. As with luxury watches, the jewelry auction market continues to attract collectors seeking the most unique and valuable pieces.
Auction House Dominance and Trends: The Leaders in Luxury Watch and Jewelry Sales
When it comes to luxury watch and jewelry auctions, two names consistently stand out: Sotheby’s and Christie’s. These auction houses have a long history of offering some of the most sought-after and valuable timepieces and jewelry in the world.
Sotheby’s and Christie’s: The Top Two
Sotheby’s and Christie’s have consistently led the luxury watch and jewelry auction market, with Sotheby’s holding the record for the most expensive watch and jewelry sales. In recent years, Sotheby’s has achieved remarkable results, such as the sale of the Patek Philippe Grandmaster Chime for $31.1 million and the “Pink Star” diamond for $71.2 million.
The Dominance of Patek Philippe and Rolex
In the luxury watch auction market, two brands have consistently dominated: Patek Philippe and Rolex. These brands have accounted for a significant portion of the highest-priced watch sales, with models like the Patek Philippe Ref. 2499 perpetual calendar chronographs and the Rolex “Paul Newman” Daytona fetching millions at auction.
The Rise of Independent Watchmakers
While Patek Philippe and Rolex continue to dominate, independent watchmakers are also gaining prominence in the luxury watch auction market. Brands like F.P. Journe, Roger Smith, and Philippe Dufour have seen their timepieces achieve impressive results at auction, with Roger Smith’s Pocket Watch No. 2 setting a record for any British timepiece at $4.9 million.
Market Trends and Outlook
Despite a slight slowdown in 2023 compared to the record-breaking sales in 2022, the demand for rare and unique timepieces and jewelry remains strong. Sales of luxury watches at the top auction houses fell 13% to 610 million Swiss francs ($696 million) in 2023, but this follows a period of unprecedented growth in the post-COVID era.
Collectors continue to seek out the most exceptional and rare pieces, with a focus on quality over quantity. As the market evolves, it will be interesting to see how auction houses and brands adapt to changing tastes and preferences, while still maintaining the allure and exclusivity that defines the luxury watch and jewelry world.
