The Top 5 Most Expensive Patek Philippe Watches Sold at Auction in the First Half of 2024

S otheby's global team of Patek Philippe specialists continued to bring a wide range of extraordinary Patek watches to auction in the first half of 2024. Our most expensive list is eclectic, encompassing everything from Sylvester Stallone's extraordinary Grandmaster Chime, a couple of superlative 2499 Perpetual Calendar references, and extraordinary examples of the iconic Nautilus and Calatrava models. Read on for a recap of the top 5 most expensive watches sold by Sotheby's in H1 2024.

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

The 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 in this auction season.

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

Patek Philippe Watch — Patek Philippe Reference 2499J

The 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.

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

The 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 watch.

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

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 was a true masterpiece owing to its rich cultural symbolism and exceptional craftsmanship.

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

The 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.

The Patek Philippe watches sold at Sotheby’s in the first half of 2024 represent some of the most significant achievements in horology. These timepieces, with their complex movements, rich histories, and unique designs, continue to captivate collectors worldwide. The combination of rarity, provenance, and craftsmanship ensures that these watches will remain coveted pieces for years to come.

Sell or Source a Patek Philippe Watch with Sotheby's

At Sotheby’s our global network of Patek Philippe specialists regularly bring a range of extraordinary Patek examples to market, combined with handpicked watches in exceptional condition available through our Buy-Now offering. Sotheby's is on hand to support as a trusted partner for selling or purchasing a Patek Philippe watch.