Whoa! Bloomberg news recently reported a record breaking wristwatch sold at auction in Geneva for $5 Million.
$5 Million Wristwatch
The 88-year-old Patek Philippe watch set a record price for stainless-steel wristwatches at an astounding $5 million dollars last month. The original low end estimate for the watch was about $1 Million dollars, but the wristwatch went for 5 times more once the 21 minute bidding closed. The lucky, (and slightly less wealthy) winner was an anonymous phone bidder. The auction was held by Phillips and is reported to have generated a total of $31.8 million.
What You Get For $5 Million
The 1927 Patek Philippe is a single-button chronograph designed for use by doctors. It features an aged, off-white silvered dial and pulsations scale that was designed to help doctors measure patient heartbeats. The high price was commanded because this particular wristwatch is 1 of only 2 ever produced. The sister watch is actually in the Patek museum.
Want to ogle other ridiculous pieces of wrist bling? Check out Hodinkee.
What Else Does $5 Million Buy?
To put this into perspective, consider what else this chunk of change could get you:
• 10 Lamborghini Aventadors
• A hillside villa in Tuscany
• 2 Million Loads of Laundry (wash & dry of course)
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