On November 9, at the Four Seasons Hotel in Geneva, Christie's held another Only Watch auction, all proceeds from which go to Duchenne muscular dystrophy research. Traditionally, the lion's share of revenue comes from the lots of the renowned manufacture Patek Philippe: the house always provides specially made complex watches. But the result of Only Watch nobody could imagine.
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The Grandmaster Chime (ref. 6300A), launched on the 175th anniversary of Patek Philippe, has been announced as the auction piece unique. Its two-sided rotary case is made of steel for the first time (since 2016, the watch has been produced in white gold). A masterpiece of micromechanics contains two dozen complications, including a perpetual calendar, five battle modes, and an alarm clock function. The watch, tentatively estimated at 2.5-3 million Swiss francs, was eventually sold for 31 million francs, setting an all-time cost record.
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Until now, the status of the most expensive wristwatch was kept by the Rolex Daytona chronograph owned by Paul Newman. The watch was sold in 2017 at the Phillips auction for $ 17.8 million. The most expensive pocket watch was the historic Patek Philippe Supercomplication, made for banker Henry Graves Jr. in 1932. The record of $ 24 million was set in 2014 at Sotheby's.
The total revenue of Only Watch 2019, which featured 50 watch models from different manufacturers, amounted to 38.6 million Swiss francs. Thus, the Patek Philippe lot generated 80% of the profit.>