5 Most Expensive Watches Ever Sold at Auction

Most of us have owned a watch or two in our lives, but usually, it’s something we grab for its stylish look or just to make sure we’re not late for work. Maybe it’s a trusty Seiko or a handsome Omega. But there’s a whole other world of watches out there, ones that don’t just keep time but also rake in millions of dollars at auction. 

If you’ve ever wondered what makes a tiny, ticking piece of machinery worth millions, then you’ve come to the right place. While most of us can’t imagine forking the cost of a mansion for something that fits our wrists, there are plenty of collectors and connoisseurs out there who are more than happy to drop millions at the drop of a gavel. 

These watches aren’t just about telling the time anymore; they’re about owning a piece of history, art, and, in some cases – or maybe even every case – status. 

But as you’d expect, the world’s most expensive watches ever sold at auction aren’t your run-of-the-mill wrist candy. These aren’t the kind of watches you’ll find in the window of any regular jewelers. 

These are watches that combine rarity, craftsmanship, and a touch of fame to create something almost completely one-of-a-kind. So, what exactly makes a watch rake in the big bucks? Is it all about diamonds and gold, or is there more to the story?

What Makes a Watch Fetch a High Auction Price?

So, what exactly makes a watch go from a cool, high-performing accessory to something worth more than an actual house? Well, to be honest, there’s no one-size-fits-all answer, and as you’ll soon find out, every watch has its own unique story and set of reasons for being valued so highly. But there are also a few key ingredients that can send a watch’s price tag souring. 

For starters, the rarity of a watch makes a big difference to its value. The fewer pieces made, the higher the price will likely be. Some watches are limited editions while others are one-of-a-kind, and buzzwords like this can get collectors salivating. 

To add to this, when a watch is made by some of the most prestigious watchmakers in the world, such as Patek Philippe, Rolex, and Audemars Piguet, you’re also more likely going to hold sway in the auction world. These brands have been around for decades, even centuries, and have built a reputation for producing exceptional timepieces.

Complications are another thing to consider. In the watch world, complications refer to features beyond just telling time. These could be anything from a perpetual calendar to a moon phase indicator or even a split-second chronograph. The more complicated, the better. And the more people are willing to shell out. 

Similarly, materials help. Sure, gold and diamonds come to mind, but it’s also more about the craftsmanship and uniqueness of these materials that really add value. Some watches are made with super rare materials or are meticulously hand-crafted down to the smallest detail. When you’re dealing with that level of precision, you’re not just buying a watch but a work of art.

Finally, we need to talk about provenance. This is a fancy word for “who owned this thing before?” For example, a watch that once belonged to a celebrity or a historical figure is much more likely to sell for the same design that’s been sitting in a shop window for several years.  

Take the Omega Speedmaster, which belonged to astronaut Dave Scott, as an example. This was one he wore during the Apollo 15 mission, and it made history as the first privately owned timepiece to go to the moon. When it hit the auction block, it sold for a whopping $1.6 million. Personal connections and backstories are a game changer. 

Top 5 Watches Sold at Auction 

Now that we know what makes a watch sell for insane prices let’s dive into the watches that have broken all the records. Some of these have stories attached that are just as cool as the watches themselves. So, without further ado, let’s take a look at the top 5 most expensive watches ever sold at auction…

#1 Patek Philippe Grandmaster Chime (ref. 6300A-010)

The Patek Philippe Grandmaster Chime (ref. 6300A-010) is a true masterpiece, breaking records when it sold for a staggering $31.19 million at the Only Watch Charity Auction in Geneva in 2019. What makes this watch so special? First, it’s the only Grandmaster Chime ever made in stainless steel—a material rarely used by Patek Philippe for its grand complications. 

It’s also a watch that features 20 complications – yes, that’s a lot. This includes an alarm that chimes the pre-set time and a date repeater that sounds the date on demand. It’s also equipped with two dials housed in a reversible case, allowing the wearer to display either dial. 

With “The Only One” engraved on the case, it’s also a timepiece that oozes exclusivity and prestige. Combining its rarity, complexity, and the charitable cause behind its creation, the Grandmaster Chime stands as one of the most valuable watches ever sold.

#2 Patek Philippe Henry Graves Supercomplication (ref. 198.385) 

Another model from Patek Philippe is the Henry Graves Supercomplication (ref. 198.385). Created in 1933 for American banker Henry Graves Jr., this stunning timepiece features 24 complications, making it one of the most complex mechanical watches ever made. 

The watch took nearly five years to craft and remains a testament to Patek Philippe’s exceptional artistry and technical expertise. Its most notable features include a perpetual calendar, sunrise and sunset times, a moon phase indicator, and a minute repeater. 

The intricacy of its design is matched only by its beauty, with an elegant gold case adorned with exquisite engravings. In 2014, the Henry Graves Supercomplication was sold at auction for a jaw-dropping $24 million, making it the most expensive watch ever sold at the time.

#3 Rolex Daytona “Paul Newman” (ref. 6239)

The Rolex Daytona “Paul Newman” (ref. 6239) is arguably one of the most famous designs from the Swiss watch giant, and for good reason. Originally introduced in the 1960s, this watch gained its nickname thanks to the legendary actor and race car driver Paul Newman, who was often seen wearing it. The design featured an Art Deco-like dial with a cream backdrop and striking black sub-dials – a combination of details that remains a huge draw for collectors today. 

In addition to having a celebrity connection, the Rolex Daytona “Paul Newman” was a rare timepiece, with only a limited number of people dressed in these specific aesthetic details. In 2017, a “Paul Newman” Daytona sold for an astounding $17 million at auction, making it one of the most expensive wristwatches ever sold. 

Today, many models have emerged that resemble the original Daytona, but none carry the same cachet. Even though these newer versions don’t fetch millions, they are still some of Rolex’s most coveted designs.

#4 Patek Philippe Perpetual Calendar Chronograph (ref. 1518)

Our next legendary timepiece is the Patek Philippe Perpetual Calendar Chronograph (ref. 1518. Launched in 1941, this model was the world’s first perpetual calendar chronograph wristwatch ever to be produced in a series by a manufacturer. 

Its innovative perpetual calendar complication accurately tracks the date and accounts for leap years. But what makes the reference 1518 exceptionally rare is the fact that only four examples were ever produced in stainless steel. 

This unique material, combined with the watch’s already limited production, has elevated its status among collectors. In 2016, one of these steel models sold at auction for an astonishing $11 million. Other models with differing case materials have also been up for auction since, and although none have quite beaten their predecessor, they rarely fail to hit six figures. 

#5 Patek Philippe “Prince Mohammed Tewlik A. Toussou” (ref. 1518 with French calendar)

Yes, you read that right. Our final watch in today’s rundown is yet another Patek Philippe and another reference 1518. This release was also part of a limited production run, with only 14 known pink gold versions in existence. It’s also largely set apart by its unique French calendar, which adds a special charm to its already sophisticated design. 

In December 2021, the Patek Philippe “Prince Mohammed Tewlik A. Toussou” watch, named as such for the royal figure that owned it previously, made headlines when it sold for an impressive $9.57 million at a Sotheby’s auction in New York. Its combination of rich history, royal provenance, and the allure of its pink gold casing contributed to its elevated value.

Conclusion

So, there you have it, the five most expensive watches ever sold at auction. As we’ve hopefully demonstrated, these are watches that are famed for their high levels of craftsmanship, rarity, and history. 

From the unique Patek Philippe Grandmaster Chime to the iconic Paul Newman Daytona, each piece has captivated collectors for their stunning designs and intricate complications and their connections to famous figures and pivotal moments in time. 

They may not be watches we’ll ever own personally, but it’s certainly fun to hear about their stories and the extraordinary price tags they’ve reached!