GENEVA - A Patek Philippe timepiece sold for US$31 million , the highest price for a wristwatch in auction, at a charity sale run by Christie's in Geneva.
The steel Grandmaster Chime went under the hammer after a 5-minute bidding war in a packed room of more than 300 people. The watch beat the previous record, set by a Daytona Rolex that once belonged to Paul Newman. That piece fetched US$17.8 million in 2017.It was sold Saturday in an event called Only Watch in which watchmakers offer one-of-a-kind timepieces to raise money for research into Duchenne muscular dystrophy.In 2010 the highest was US$5.7 million. Only Watch was founded in 2005 by Luc Pettavino, former chief executive officer of the Monaco Yacht Show.
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