Luxury Watches: And you thought the new Rolex was pricey. A Patek Philippe perpetual calendar chronograph wristwatch went for nearly 6.26 million Swiss francs ($5.86 million) at a recent auction. It went to a Swiss private museum and set a record for the highest price paid for a yellow gold watch sold at auction, according to Christie's.
The 1943-44 watch features an avant-garde case design and was a forerunner for future generations of complicated wristwatches. It was sold as part of a 20-piece collection put up by an anonymous seller.
Aurel Bacs, international co-head of Christie's watch department, called it the "Mona Lisa of all watches."
"European bidders were fiercely challenged by international collectors, especially buyers from China," he said of the sale.
The name of the museum wasn't revealed, but Geneva is home to a Patek Philippe museum, which contains the best pieces made by the independent watchmaker. The entire collection netted 16 million Swiss francs, making it the most expensive private collection of watches ever sold.
Pic Source: AP