Patek Philippe Ref. 5207P beats estimate to set $867,000 auction record

Patek Philippe's third most complicated wristwatch, Ref. 5027P-001, has seen a new record price at Sotheby's Important Watches Spring Sale, held on April 8 in Hong Kong.

Patek Philippe Ref. 5027P auction record
The watch was only released in 2008, yet is one of the hardest modern wristwatches to find

The watch, which is described as "doubtlessly one of the most impossible timepieces to obtain", has only been seen at auction twice since its release in 2008. Previously unknown to collectors and still sealed, the example at Sotheby's saw fierce bids to sell for $867,000 - a record price for the model.

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