Recently, in the just-concluded Only Watch charity auction, the world’s most expensive watch was born, the most expensive watch price is Ref.6300A-010 with 31 million Swiss francs, about 220 million yuan of sky-high price (no commission), breaking the world record of 130 million yuan set by Rolex Paul Newman Daytona in 2017.

The world’s most expensive watch is out

This Patek Philippe, worth more than 200 million, is not made of precious metal, but has a stainless steel case. Let’s take a look at the excellent basic information: this 6300A-010 is a “double-sided” watch with a manual mechanical movement, with date, day, month, year, moon phase display, leap year cycle display, two-place time display, alarm, day and night display, minute repeater, perpetual calendar and other complications, water resistance to 30 meters, 47.7 mm diameter.

A Patek Philippe Ref.6300A-010 was sold at a sky-high price of 31 million Swiss francs, about 220 million yuan (no commission), becoming the “most expensive watch in history”, breaking the world record of 130 million yuan set by Rolex Paul Newman in 2017.

What is the reason for becoming the most expensive watch

According to insider analysis, “scarce is expensive” is the most important reason for the high price, and this 6300A-010 is precisely a so-called “unique product”. The limited-edition Patek Philippe Ref.6300A-010 is based on the “King of Kings” Ref.5175, with the exception of changing the case material from precious metal to stainless steel and the dial in the “salmon” color that is highly sought after in the collector’s market.

For most brands of watches, the precious metal version will be worth much more than the steel model. However, for some styles of some brands, steel models will have a very high premium because of the scarcity of quantities. In 2013, the Rolex Rolex 4113 double-chase chronograph was sold at Christie’s auction for more than 1.1 million Swiss francs, about 7.255 million yuan.

The origin of the Only Watch auction

The Only Watch auction is a well-known watch auction in the watch industry, which has been held every two years since 2005, sponsored by Mr. Luc Pettavino of Monaco and sponsored by the Prince Albert II Foundation of Monaco. Luc Pettavino’s son suffered from Duchenne childhood muscular dystrophy at an early age, and major watch brands around the world participated in providing their own watches and auctioning funds for Duchenne children’s muscular dystrophy research. At the same time, as a global news communication window, watch brands donate watches for auction free of charge and have also gained high exposure.

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