Someone splashed R467m on this watch, making it the world's priciest timepiece

Before the hammer fell at last weekend’s Only Watch auction, to raise funds for research into Duchenne muscular dystrophy, one lot had already generated loud chimes of interest among watch collectors.

It was a special edition of the Patek Phillipe Grandmaster Chime, the Ref. 6300A-010, which is the first and only version of this timepiece to be made with a steel case — apparently a much sought-after thing in the world of watch collecting. Rumours were that it could expect to fetch over $20-million at auction.

However even the most discerning and knowledgeable of timepiece aficionados were taken aback when it fetched a staggering $31,194,370 (R467-million), making it the most expensive wristwatch ever sold.

The sale beat the previous record held by a Patek Philippe Henry Graves Supercomplication model that sold for $24-million five years ago.

According to the Robb Report, “What ultimately sent the Ref. 6300A into the stratosphere is the fact that this version is one of a kind — a fact emphasised on the dial, which spells out ‘The Only One’.” 

You can’t just buy a Grandmaster Chime from the luxury brand – you have to submit an application to show you’re honourable and wealthy enough before they’ll consider making you one.

This particular version has never been worn and was created specifically for the auction. 

No word yet on who forked out the GDP of some island nations for the watch but the sale certainly helped to raise significant money for its cause with $38.8-million collected for research into Duchenne muscular dystrophy.

As Patek Phillipe’s legendary advertising slogan reminds us: “You don’t own a Patek Phillipe. You merely take care of it for the next generation.”

Here’s hoping whoever the proud owner of the Grandmaster Chime Ref. 6300A-010 is, they’re able to explain that to their children.

• This article is adapted from one published on Wanted Online. Visit wantedonline.co.za for the latest in luxury lifestyle news.