Auction house Phillips stated on the 9th that a Patek Philippe watch, which set the record for the most expensive wristwatch ever auctioned in 2016, was sold at an even higher price this past weekend.
According to AFP, this Patek Philippe watch was sold for 14.19 million Swiss francs (about 73 million ringgit), surpassing the 11 million Swiss francs it fetched 9 years ago.
This Patek Philippe perpetual calendar chronograph, model 1518, was manufactured in 1943 and is one of only four known stainless steel versions. Its rarity makes it even more coveted than the gold models.
The record it set in 2016 was overtaken in 2017 by the late Hollywood star Paul Newman's cherished Rolex Daytona, which was auctioned for 17.8 million US dollars.
This record was later broken again in 2019 when a Patek Philippe Grandmaster Chime watch was sold for 31 million US dollars.
Phillips stated that the sale of this stainless steel 1518 this weekend once again reaffirmed its status as "one of the most important watches in history."
Phillips noted that the auction process lasted less than nine and a half minutes, attracting five bidders. Ultimately, it was won by a telephone bidder.
This model was launched in 1941 and is the world's first mass-produced perpetual calendar chronograph.
Patek Philippe produced about 280 pieces of the 1518 model, most with yellow gold cases, about one fifth in rose gold, and only four known to be stainless steel.