Patek Philippe 5016A wristwatch sets new auction record

Patek Philippe 5016A wristwatch sets new auction record

A Patek Philippe 5016A has set a new world record for a wristwatch at auction.

It made $7.2m at the Only Watch sale held by Phillips in Geneva on November 7.

Patek Phillipe watch
Patek Philippe only made one 5016A in steel

The piece is the only version of the watch built in steel and features a tourbillon, perpetual calender and minute repeater.

All proceeds from the sale will fund research into Duchenne Muscular Dystrophy, a rare disease that mainly affects young boys.

The record for any watch is Patek Philippe's legendary Henry Graves Supercomplication, which sold for $20.5m in 2014.

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