They were used to keep a record of time, but now they have become the fashion statement and a piece of luxury. From pocket to wrist, watches have travelled a long journey, and we all have observed a gradually increased affinity among luxury lovers towards the classy watches. So, you like to wear an expensive timepiece on your wrist, but can you afford a Swiss watch that cost more than your luxurious apartment?
Swiss watches are known for their exclusive design and features, and Patek Philippe is a leading wristwatch brand acknowledged for their unique handcrafted designs. Patek Philippe is the last family owned Swiss watchmaker, manufacturing high-end wrist watches since 1839. They have secured more than 80 patents. Recently, the company auctioned a watch that is worth more than an expensive apartment in Mumbai. In an auction held last month in Geneva, Patek Philippe sold its reference 1518 stainless steel watch for more than 11 crore Swiss francs that is equivalent to 11 million USD. The watch will cost around 75 crore rupees if converted into Indian Rupee. Last year, the company sold reference 5016 watches in 7.3 million Swiss francs, but this year reference 1518 stainless steel has broken all the previous record of expensive wrist watches.
Paul Boutros, the regional company head called this auction a lifetime opportunity not just for the buyer, but also for the people who witnessed reference 1518, a marvel in wristwatch designs. Manufactured in the year 1941 the reference 1518 is number one in a series of four that are known to exist. Paul also claimed that this watch is World’s first perpetual calendar chronograph wristwatch ever to be produced in a range by the makers. There were several bidders wanted to buy this excellent piece of design and eventually a private collector marked the final buying bid.
The company also sold two other watches of reference 1518 series in this auction. They sold Patek Philippe reference 1518 yellow gold in around 6 lakh Swiss francs and the reference 1518 rose gold watch for around 15 lakh Swiss francs. Eight bidders participated in this auction, and the bidding war went till 13 minutes. When the price went beyond seven crore Swiss francs, there were only two bidders left who took the bidding war to the next level and made this watch the most expensive timepiece of the world.
The Patek Philippe reference 1518 stainless steel has an exclusive design and features. The perpetual calendar chronograph features day and month aperture at 12 o’clock position. It has two sub-dials illustrating a 30-minute register at 3, and seconds at 9 o’clock, with a date surrounding a monophasic indicator at 6. The reference 1518 also has a Tachymeter scale, a device that determines speed by measuring the time it takes to cover a particular distance.
Collector’s affinity for the rare wristwatch pieces is increasing with time, and this auction proves that men treat their wristwatch as a piece of expensive jewel on their hand. The crave for the exclusivity in men suggests that one should not just save time but also save for an excellent timepiece.