In a bit of good news for the luxury watch industry, Sylvester Stallone’s one-of-a-kind Patek Philippe Ref. 6300G-010 Grandmaster Chime just sold for an eye-popping $5.4 million at Sotheby’s, setting a new world record as the “most valuable modern watch sold” in the illustrious auction house’s history, according to the Daily Caller. The Rocky star’s total collection sold for $6.7 million, exceeding the original high estimate of $6 million, the website reports, noting that six out of the 11 watches were sold to online bidders, while all but one sold for more than its pre-sale high estimate. This reinforces the opinion that auction houses sometimes put low estimates on valuable timepieces to entice bidders, who also pay a buyer’s premium of 20% on items hammered for up to and including $6 million, should they happen to win.
Maybe the spectacular result will go someway toward mollifying Patek Philippe; some industry observers had speculated that the watchmaker was less than thrilled with the fact that Stallone decided to auction off the white-gold watch, the most complicated Patek ever made, with 20 complications in all taking over 100,000 hours to complete. Stallone apparently never wore the watch, which leads us to think that he may have intended to resell it all along; it came presented in a “grand presentation box” engraved with the actor’s name. “I bought this as a collector,” Stallone himself said in a video about the watch auction. “I treat it the way you’d treat a painting… it’s a work of art.“
In a statement announcing the sale, Stallone said, “I’ve had the privilege of owning some truly remarkable watches over the years, each with its own unique character and history. I enjoy the collecting process like so many others in this passionate community, who don’t just see watches as an accessory, but admire them for their history, craftsmanship, artistry – but most importantly – how they make them feel. Looking at these watches, I feel truly lucky to have owned them; they serve as a reminder that hard work pays off. While parting ways with this collection is bittersweet, I cherish that I’ve owned them with pride, and hope they will be appreciated and admired in their next homes.“
“The sale of the Patek Philippe Grandmaster Chime was an unrepeatable celebration,” a spokesperson from Sotheby’s said in a statement issued to the Daily Caller, “not only of a masterpiece by the most revered Swiss watchmakers of technical excellence but also of the legendary icon that is Sylvester Stallone, who has been a deeply influential and admired collector for many decades. To feel the pulse of collectors racing with excitement in pursuit of absolute top-caliber material was tremendous, and an homage to the art of collecting at the highest level.” It is not known how much Stallone originally paid for the Patek Philippe watch.
“This result shows not only that the highest-end Swiss luxury watches still matter, but that provenance is extremely important,” says Paul Altieri, Bob’s Watches Founder and CEO, who is one of the world’s top collectors of Rolex watches, who also owns a number of Patek Philippes. “The value of and interest in rare and collectible watches is significantly enhanced when there’s a story to tell. The pieces in my collection that I treasure the most have incredibly interesting, well documented origins that add an extra dimension to an already beautiful object.“
Hess noted the sale of Stallone’s Patek Grandmaster Chime smashed the previous record for any modern watch sold at Sotheby’s, held by a Richard Mille Reference RM53-02 which sold for $4.5 million at Sotheby’s Hong Kong in October 2023. Among the other Stallone watches for sale, his green-dial Patek Philippe Ref. 5711/1300A001 with a baguette diamond-set bezel sold for $492,000; his Audemars Piguet Ref. 26730OR.OO.1320OR.01 “50th Anniversary” Royal Oak Tourbillon sold for $228,000; his Patek Ref. 5711/1A-010 Nautilus sold for $144,000; his rose gold Ref. 228235 Day-Date with a green dial sold for $96,000; and his screen-worn Panerai “Bronzo” from The Expendables 2 sold for $96,000.
