Patek Phillipe Ref. 1436 Watch Sells At Auction For Over $1 Million

Why Patek Philippe watches are such consistent "gold" at auctions is sort of a mystery to me. The brand is highly prestigious, the watches (both new and old) are of high quality, and they certainly have rarity on their side, but what else? Does a good looking watch with a hell of a reputation really take you that far? In this case, it does - and it is possible that buyers are looking to receive investment grade timepieces for future sales when the demand is even higher. The price achieved for this watch set a record, plus this particular watch has never been up for auction before.

This Patek Philippe Ref. 1436 rattrapante (double) chronograph watch sold for about $1.12 million at an Antiquorum auction. Incredible price for a steel watch. Granted, they are highly rare with just two known to exist, the price indicates a clear resilience to the economy for passionate collectors of Patek Philippe and other fine watch brands. In all, Patek Philippe watches are always strong at auction so expect to be surprised again.

Via National Jeweler.

Ariel Adams publishes the popular watch review site aBlogtoRead.com.