The Most Expensive Watches Sold at Sotheby's in the First Half of 2024

T he most expensive watches sold by Sotheby's in the first half of this year were dominated by Patek Philippe, with 4 of the 5 top slots taken by the venerated watch maker. Indeed the most expensive watch Sotheby's sold was the extraordinary Patek Philippe Grandmaster Chime (6300G), owned by acting legend Sylvester Stallone. Captivating collectors and enthusiasts globally, this watch sold for $5.4m in June 2024. Below we recap this as part of the top 10 most expensive watches sold in H1 2024.

1. Patek Philippe Grandmaster Chime Reference 6300G Circa 2021, 5,400,000 USD

This Patek Philippe Grandmaster Chime Reference 6300G was sold for 5,400,000 USD in June 2024. A timepiece of extraordinary complexity, the above piece is the pinnacle of Patek Philippe’s horological mastery. Introduced in 2016, this model marked the brand's first grande sonnerie watch in its permanent collection. Featuring twenty complications and including five chiming modes and a reversible case, the Patek Philippe Grandmaster Chime is a testament to the brand's innovative prowess.

This particular watch was notably owned by legendary actor Sylvester Stallone. Accompanied by a grand presentation box, literature, and numerous accessories, this watch was a comprehensive collector’s item. Stallone’s ownership further solidified its place as a unique and highly desirable piece, making it the top-selling Patek Philippe watch sold by Sotheby's this year. Indeed it ranks as one of the most expensive Patek Philippe watch examples we have sold in our 280 year history.

2. Richard Mille Prototype 3 Reference RM27-01 Rafael Nadal Circa 2014, 1,270,000 CHF

Richard Mille Watch — Richard Mille Prototype 3 Reference RM27-01 Rafael Nadal

This Richard Mille Prototype 3 Reference RM27-01 Rafael Nadal was sold for 1,270,000 CHF in May 2024. This model showcased an exceptional blend of innovation and athleticism. A product of the collaboration between Richard Mille and tennis legend Rafael Nadal, this model represented the culmination of extensive research and development. Weighing only 19 grams with the strap, it was one of the lightest tourbillon watches ever produced. The movement, weighing just 3.5 grams, was rigorously tested by Nadal throughout his tennis season, proving its resilience against extreme shocks and movements.

Constructed from grade 5 titanium and aluminum-lithium alloy, the movement was suspended by braided steel cables, allowing it to withstand accelerations of up to 5000 G. The case was crafted from grey anthracite polymer injected with carbon nanotubes to ensure exceptional durability. Limited to 50 pieces worldwide and further rarefied by its prototype status, this piece was a coveted collector's item.

3. Patek Philippe Reference 2499J Circa 1966, 1,143,000 CHF

Patek Philippe Watch — Patek Philippe Reference 2499J

This Patek Philippe Reference 2499J was sold for 1,143,000 CHF in May 2024. The above piece was retailed by Tiffany & Co. and is widely regarded as one of the most important perpetual calendar chronographs ever made by the Patek Philippe brand. Produced between 1978 and 1984, this third-series model represents a significant period in Patek Philippe's history. As one of only 349 pieces made, this watch is extraordinarily rare.

Patek Philippe's longstanding relationship with Tiffany & Co. dates back to 1851 and further enhanced the significance of this watch. The dual signatures on the dial are a testament to the collaboration between two iconic brands. The rarity, coupled with the rich history, made this watch a standout piece in the auction and attracted significant attention from collectors.

4. Patek Philippe Reference 2499, 2nd Series Circa 1960, 8,128,000 HKD

This Patek Philippe Reference 2499 2nd Series was sold for 8,128,000 HKD in April 2024. Originally produced in 1960, the above model is an extraordinary example of Patek Philippe perpetual calendar watchmaking. This specific model was consigned by an important collector and is one of only 48 known examples of the second series. The yellow gold case is marked by well-fluted lugs and prominent hallmarks, adding to the watch's allure.

The watch’s journey through the auction circuit further enhanced its desirability. Having first appeared in Hong Kong in 1992 and most recently resurfacing at auction in 2007, the watch’s provenance added to its historical value. The meticulous details and craftsmanship of this Patek Philippe watch made this a highly sought-after example.

5. Patek Philippe Nautilus Reference 5720 White Gold, Diamond, and Enamel Circa 2012, 5,715,000 HKD

Patek Philippe Watches — Patek Philippe Nautilus Reference 5720

The Patek Philippe Nautilus Reference 5720 sold for 5,715,000 HKD in April 2024. This Patek Nautilus was a special edition created to mark the opening of the Patek Philippe Shanghai branch in 2012. This Patek Nautilus featured an intricate design with a five-clawed dragon, a symbol of power and strength in Chinese culture. Handcrafted from 10 different enamel colors that vary slightly due to the enameling process, each Patek watch was unique.

Accompanied by a Patek Philippe Certificate of Origin, the watch has 1,648 diamonds weighing 9.358 carats. The dial, decorated with pavé-set diamonds and an enameled dragon that bled into the bezel, was complemented by an 18k white gold case and bracelet. This Patek Philippe Nautilus example was a true masterpiece owing to its rich cultural symbolism and exceptional craftsmanship.

6. Patek Philippe Calatrava Reference 2526 Circa 1952, 5,715,000 HKD

This Patek Philippe Reference 2526 Circa 1952 was sold for 5,715,000 HKD in April 2024. The above model is recognized as Patek Philippe’s first self-winding watch, marking a milestone in the brand’s history. This particular model was made for the esteemed collector J.B. Champion as a symbol of innovation and craftsmanship. The Patek Calatrava watch’s enamel dial, chosen for its resistance to tarnishing, exemplifies Patek Philippe's commitment to aesthetic appeal but also durability.

A limited edition piece, only 3,000 of these movements were produced and only a few examples have resurfaced over the years. The above piece first appeared at auction in 1991 before being acquired by the consigning owner in 1998. The Patek Philippe Calatrava Reference 2526 watch’s detailed craftsmanship is evident in the movement’s highly decorated, gold-engraved rotor. The slightly domed dial featured a unique green counter enamel, which set it apart as a prototype of this historic model.

7. Patek Philippe Reference 5074, Circa 2012, 4,572,000 HKD

This Patek Philippe Reference 5074 was sold in April 2024 for 4,572,000 HKD. This model was introduced in 2005 and merged two of the brand's most prestigious complications: the perpetual calendar and minute repeater. The watch was housed in a commanding 42mm pink gold case, accentuated by a stepped bezel that contrasted elegantly with its black dial. This combination of materials and design elements created a visually striking timepiece.

Powered by the Calibre R27 Q automatic movement, this Patek Philippe watch featured cathedral gongs that encircled the movement twice to deliver a deeper and more resonant chime. Its sapphire crystal display back revealed the intricate movement, a hallmark of Patek Philippe's dedication to horological excellence. Accompanied by its original Certificate of Origin, additional case back, and presentation box, this Patek watch's rarity and craftsmanship made it a coveted piece for collectors.

8. F.P. Journe Tourbillon Souverain à Remontoir d'Egalité avec Seconde Morte Circa 2010, 576,000 USD

F.P. Journe Watch — F.P. Journe Tourbillon Souverain à Remontoir d'Egalité avec Seconde Morte

This F.P. Journe Tourbillon Souverain à Remontoir d'Egalité was sold in June 2024 for 576,000 USD. Launched in 1999, this F.P. Journe piece introduced a groundbreaking mechanism that combined the Remontoir d'Egalité system with a tourbillon. This model was specifically produced after 2004 and added the deadbeat seconds complication to enhancing the watch's precision by ensuring the second hand only moved after a full second had elapsed. The movement was also crafted in 18-carat pink gold, to be admired through the sapphire case back.

The watch's design was equally impressive, featuring a platinum case set with baguette diamonds and a guilloché silver dial. The 42-hour power reserve was balanced with the deadbeat seconds indicator, showcasing the F.P. Journe brand's mastery of both form and function. Complete with its original box, undated certificate, and accessories, this watch stood out as a superb example of advanced modern watchmaking.

9. Patek Philippe Reference 2499, 3rd Series Circa 1977, 564,000 USD

The Patek Philippe Reference 2499, 3rd Series was sold in June 2024 for 564,000 USD. Introduced in 1960, this model succeeded the iconic Patek Philippe Reference 1518, further establishing Patek Philippe's leadership in haute horlogerie. The 18k yellow gold case was coupled with a silvered dial featuring baton markers, exuding understated elegance. The reference lacked a tachymeter scale to emphasize its clean aesthetic while placing the perpetual calendar and chronograph functions at the forefront.

The rarity of the Reference 2499 third series is a key factor in its desirability. Only around 100 pieces were ever produced, making each one highly coveted among collectors. This particular piece, with its flawless finishing and meticulous craftsmanship, showcases Patek Philippe's commitment to excellence. The watch's provenance included an inclusion in the De Guigne Collection and a previous auction in 2015, enhancing its historical significance. It also came with its original Patek Philippe presentation case and an Extract from the Archives, confirming its sale date in 1977.

10. George Daniels Millennium, Limited Edition Yellow Gold, Circa 1999, 508,000 CHF

George Daniels Watch — George Daniels Millennium

The George Daniels Millennium was sold in May 2024 for 508,000 CHF. Created in limited numbers, this watch was a celebration of the George Daniels' revolutionary co-axial escapement. Housed in a 37mm yellow gold case, this watch featured a silvered engine-turned dial, with brushed chapter rings and the signature co-axial movement visible through the sapphire display back. The dial's design was influenced by Daniels’ earlier pocket watches, emphasizing both aesthetics and function.

With fewer than 50 examples produced, the George Daniels Millennium was one of the most iconic watches created by Daniels. Its rarity and the groundbreaking technology it embodied, made it a highly sought-after piece. The watch was accompanied by a presentation box, a handwritten letter from Daniels and a Christmas postcard, adding to its rich provenance and appeal to collectors.

From the rare and intricate Patek Philippe Grandmaster Chime Reference 6300G to the technologically advanced F.P. Journe Tourbillon Souverain, Sotheby’s auctions showcased some of the most significant achievements in horology during the first half of 2024. Whether through their historical significance, technical mastery, or sheer opulence, these timepieces have left an indelible mark on the world of watch collecting. As trends continue to evolve, the demand for rare, complicated, and luxurious watches is expected to remain strong, ensuring that these exceptional pieces will continue to be highly coveted.

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