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Abu Dhabi, UAEFriday 14 December 2018

Exclusive: Rare Patek Philippe is the most expensive watch ever sold at auction in the Middle East

A rare Patek Philippe timepiece became the most expensive watch ever sold at auction in the Middle East, when it fetched an incredible US$499,500 (Dh1,834,663) during the Christie’s Important Watch auction in Dubai.
The most expensive watch ever sold at auction in the Middle East achieved US$499,500. Courtesy of Christie's
The most expensive watch ever sold at auction in the Middle East achieved US$499,500. Courtesy of Christie's

A vintage Patek Philippe timepiece became the most expensive watch ever sold at auction last night, when it fetched an incredible US$499,500 (Dh1,834,663) during the Christie’s Important Watch auction in Dubai.

A rare 18-carat gold perpetual calendar chronograph design with moon phases, the watch was manufactured and first sold in 1981, and was sold with its original box and certificate. It was estimated to sell for a minimum of US$400,000 (Dh1,469,200).

The Patek Philippe timepiece was the final lot in the auction, which was also a record breaker. Total sales reached US$5,358,312 (Dh19,680,544) — the highest overall value, ever, of a watch auction in the Middle East. Other brands in the sale included Rolex, Panerai, Cartier and Boucheron.

See more watches from the Christie’s watch auction in Dubai here.