Most Expensive Wristwatch Sold

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The Squander Staff


The most expensive wristwatch ever send was sold in auction this weekend.

A Patek Philippe timepiece now holds the record for most expensive watch ever sold, with someone purchasing it for $7.3 million at auction.

"The watch, called the 5016A, sold at Phillips auction in Geneva for more than 10 times its low estimate of $700,000.

The sale followed nine minutes of intense bidding by two anonymous phone bidders, and led to a standing ovation by the crowd at the La Reserve Hotel," according to CNBC.com.

The complexities of the watch rather than diamonds or bling are the reason behind the watch's price tag; despite being small, the watch holds 506 parts.

The 5016A is the only model ever created and includes a tourbillon (a mechanism that counters gravity to increase the preciseness of the watch), a minute repeater and retrograde perpetual calendar.

Other really expensive items sold at auction this week include John Lennon's "She Loves You" guitar for $2.41 million and a cracker from a Titanic lifeboat that sold for $23,000.

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