Bob's Watches Bob's Watches
Watch collecting has recently experienced a number of truly amazing years, with auction and secondary markets flourishing. One notable driver for the world of watch auctions in recent years has been the creation of a watch department at Phillips in 2014 thanks to star auctioneers Aurel Bacs and his wife Livia Russo. The results speak for themselves: Phillips is responsible for six of the seven watches that have sold for more than $10 million at auction.
Another remarkable statistic is that five of the seven watches that have sold for more than $10 million at auction were made by Patek Philippe. This speaks to the lasting allure of the Geneva-based watch brand. A sixth (number two on the list) was made by Rolex and owned by Paul Newman himself. It was auctioned at the height of the “Paul Newman Daytona” craze in 2017.
The seventh watch, which comes in at number 3 on this list, is the seventh subscription timepiece with resonance made by F.P. Journe. And this situates the independent watchmaker in the pantheon of historical watchmakers and ensures his place as king of the independent hill.
What makes an already great watch go to the stratosphere on the second-hand market? A few elements make all the difference: rarity, provenance, hype, timing, originality, history, scarcity, and brand prestige.
If you don’t have $10 million to spend but love the visuals or mechanics (or perhaps both!) of these timepieces, Bob’s Watches may have just the right alternatives for you.
1. Patek Philippe Grandmaster Chime, $33 million
This watch sold for CHF 31 million (ca. $33 million at the time) at Only Watch 2019, a charity auction that donated 99 percent of its proceeds straight to research and solutions for curing Duchenne muscular dystrophy. This result took place during the eighth edition of the biennial auction, and I was in the room when this watch was auctioned, a thrilling event I am not likely to forget any time soon. This Patek Philippe Grandmaster Chime was offered in stainless steel, a unique variation on the seven-piece red gold limited edition highlight of Patek Philippe’s 175th anniversary offerings.
The auctioning of this Patek Philippe Grandmaster Chime took almost 12 minutes but seemed to go on for a very long time, allowing the room to revel in the unique experience. The bidding opened at 5 million francs from the front row but immediately jumped to 10 million from the phone bidders. From there on out, it pretty much increased in increments of 500,000 or one million francs every few seconds. When the hammer finally came down on that astounding 31 million CHF result, the audience honored it with a standing ovation and the European-style rhythmic clapping that denotes extreme appreciation. I have never ever seen this kind of thing at an auction before.
Only Watch was a phenomenon, and Patek Philippe was the biggest patron of it. There were only two more editions of Only Watch after 2019, and none of the bidding went anywhere near this. There will probably never be another result like it – unless the owner of this piece ever decides to sell it, of course.
More affordable option
A good alternative is the Patek Philippe Ref. 5960 in platinum. It contains the annual calendar patented by Patek Philippe in 1996, a great calendar type that only requires correcting at the end of February, and a chronograph. Introduced in 2006, this now-discontinued Patek Philippe Complications timepiece is unusual with its sporty dial layout, and its 40.5 mm case is larger than most watches by Patek Philippe – as is that of the unique Grandmaster Chime.
2. Rolex Cosmograph Daytona Ref. 6239 owned by Paul Newman, $17,752,500
I was not in Phillips’ New York room for the sale of this piece, but a dear friend of mine was. And he insisted the atmosphere was crackling. No sooner had bidding opened than he heard a shout near his ear: “Ten million dollars!” He reported that that bidder was ultimately unsuccessful and that it took several more minutes to reach the $17 million mark.
Back in 2017, there was a huge demand for stainless-steel Rolex Daytonas, and the “Newman” variations were the most highly sought after. This lot, Paul Newman’s own Reference 6239 with a personal inscription on the back from wife Joanne Woodward (“Drive Carefully Me”), had never been offered publicly before, and so the time was right for a sensation.
The watch was put to auction by James Cox, who once dated Newman’s daughter, Nell. Proceeds from the sale went to a charitable foundation founded by her called the Nell Newman Foundation.
This sale along with two previous Rolex results over $2 million may have helped create the Rolex bubble that lasted until the pandemic was over.
More affordable option
Bob’s Watches currently has a Newman-style Rolex Cosmograph Ref. 6241 with a cream-colored dial with black subdials in a 37 mm stainless-steel case for sale. And be sure to visit the Rolex Paul Newman Daytona page for more information.
3. F.P. Journe Chronomètre à Résonance Souscription No. 7, $13.9 million
F.P. Journe’s Chronomètre à Resonance was the world’s first wristwatch to harness the phenomenon of resonance. Comprising two independent balances beating in opposition to even out each other’s discrepancies, the movement theoretically enjoys greater accuracy. The Chronomètre à Resonance is simultaneously a useful dual time watch.
F.P. Journe’s Chronomètre à Résonance Souscription series was released from the year 2000, and, taking his cue from watchmakers of yore, Journe used a subscription system, with each of the 20 timepieces individually numbered on the dial, to finance the project and create a version that would be commercially viable. Owning one of Journe’s subscription timepieces is like owning a piece of horological history – it is an opportunity that is rarely presented.
At Phillips’ New York Watch Auction: XIV in June 2026, this F.P. Journe Chronomètre à Resonance number 7 achieved a result of $13.9 million, which is a testament to the surging demand for this independent maker and to the skills of Aurel Bacs and his team at Phillips, who have sold three watches for more than $10 million in 2026 (see below for the other two).
More affordable option
For collectors with this kind of distinguished taste, the Audemars Piguet Edward Piguet Tourbillon might present a viable alternative. A neo-vintage specialty from the early 2000s, it is a beautiful dress watch with great technical chops and a rare tourbillon from that era.
4. Patek Philippe Ref. 1518, $17.6 million
This stainless-steel Patek Philippe Perpetual Calendar Chronograph Reference 1518 from 1943 has set records twice in the last ten years. The latest was in November 2025 at a Phillips Geneva auction, where it sold for CHF 14 million ($17.6 million thanks to the exchange rate). It previously sold for CHF 11 million nine years earlier in 2016 at a Phillips auction (see the next watch on this list).
The double result makes this watch legendary in the history of watch auctions.
5. Patek Philippe Ref. 1518, $11 million
Introduced in 1941, Reference 1518 was the first serially produced wristwatch with perpetual calendar and chronograph. Most of the watches of this reference were understandably manufactured in gold, which is part of what makes this variation so desirable: it is one of only four that were released in stainless steel, which in the 1940s was naturally considered much more pedestrian than today. Stainless steel was not a metal used for haute horlogerie at that time. Even today, in Patek Philippe’s modern era, it rarely appears.
This watch marked a certain chapter in Patek Philippe’s history that takes on a real life of its own. It is not only rare, but it also has real meaning. No wonder that it sold for CHF 11 million ($11 million) in November 2016 at Phillips.
More affordable option
Patek Philippe Ref. 5139 in a very classic 38 mm white gold Calatrava case with a beautiful clous de Paris bezel came out around 2008. This version with black dial was introduced in 2011. It contains a detailed perpetual calendar with a beautifully finished automatic movement wound by micro rotor.
6. Patek Philippe Ref. 2499 from 1951, $10.3 million
At Phillips’ Hong Kong Watch Auction: XXII in May 2026, a Patek Philippe Ref. 2499 reached a price of $10.3 million, making it the most expensive watch ever auctioned in Asia.
Made in 1951, this first-series Patek Philippe Ref. 2499 in rose gold is only one of four known examples, and it is the only one known to have British hallmarks (for import and gold content). Containing a perpetual calendar and a chronograph, it is an excellent example of early complication in wristwatch form from the Genevan brand.
More affordable option
This Patek Philippe Ref. 5146 with an annual calendar from 2016 in a 39 mm white gold case is a genuinely classic watch with perfect proportions.
7. Patek Philippe Ref. 2523, $10.3 million
At Phillips’ Geneva Watch Auction: XXIII in May 2026, the Patek Philippe Ref. 2523 Polychrome Two-Crown World-Time “Doppia Corona Policromo” from 1953 with a hand-enameled map of South America achieved a result of CHF 7.96 million ($10.3 million).
More affordable option
This Patek Philippe Ref. 5230 in a 39 mm rose gold case is also a worldtimer but has a guilloche dial instead of enamel. Introduced in this version in 2017, it is a fresh, modern take on one of Patek Philippe’s most famous complications – the first worldtimer by this brand was introduced in 1937.
The post 7 Wristwatches That Sold For more than $10 Million At Auction appeared first on Bob's Watches.
