Record Price for Vintage Watch

[swish77]

OK, I don't want to hear any more complaints about the price of vintage Subs!

http://www.cnn.com/2014/11/12/busine...html?hpt=hp_t5

[CrownMe]

What a Joke.

[Paul]

Originally Posted by CrownMe

What a Joke.

It sold for $ 24.4m more than I have just now but I can respect it as one enormous chunk of watch - physically and figuratively.
Seventy odd years after it was made, it still represents a real feat of engineering. Clever, clever, clever.

I'm not convinced that the new owner will enjoy the capital gain like the last couple of owners but IMHO, it's is a seriously cool watch

[CrownMe]

if u say so...

[R.W.T.]

You can't be serious?

Just because it doesn't appeal to you...this is the Mona Lisa of watches.

It is a one of a kind, commissioned to be built for one of the richest people who ever lived by one of the top watch houses in the world ever. At the time it was created it was the most complicated watch ever built. It is completely unique. To someone who is a watch enthusiast with that kind of money at their disposal it is the Hope Diamond. It's 15 times rarer than an 1804 silver dollar valued most recently at 3 million + and a helluva lot cooler.

[Vincent65]

absolutely stunning masterpiece - quite pricey though!

[crowncollection]

Horological masterpiece IMHO, hand crafted by an obviously extremely talented watchmaker, you have to admire the technical genius who made this watch by hand, no computers or lasers to cut the steel etc. I am fascinated by the complications. Thanks for sharing.

[mluther]

built by hand without the use of modern technology - incredible. The new owner will probably sell it for 50mill in 10 years :-0

Wouldn't be surprised if we see it in the Patek museum

[sturgeon123456]

That was a short but fantastic read. Thank you for sharing. What an amazing feat of design and engineering. Wonderful piece and definitely worth that kind of money because someone was willing to pay it.

[springer]

The story and history of the watch is a a great read for those that have not read the article yet. Very, very nice.

http://www.dailymail.co.uk/news/arti...-owner-it.html

[CrownMe]

Just to clarify. I love the watch. Great story. But 24 million for a watch....no

[nsumner]

This result isn't a suprize, not in the slightest. This watch is the most important piece of horological history and triumph to ever to come to market. Truly a masterpiece every bit as valuable as the 30 million dollar Ferrai GTO or a 50 million dollar painting.

If I were a betting man, I'd say that Patek bought it and it's now back with them.

[FTX I]

I understand why it was sold for that kind of money. Truly a masterpiece. What I don't get is why people spend triple on Andy Warhol.

[Im Lauf der Zeit]

Originally Posted by CrownMe

Just to clarify. I love the watch. Great story. But 24 million for a watch....no

24 million dollars for one watch that is unique, supremely complicated and with unparalleled historical and technical significance makes more sense than some of the prices paid for one of 24 million SS sport Rolexes churned out in the X number of years it took them to make that many...

[nickb732]

It is amazing, even today I doubt most watchmakers can do what they did almost 80 years ago!

[omitohud]

"My precioussssss"


Sent from my iPhone using Tapatalk

[R.W.T.]

If memory serves, the man who taught me watch repair has held that watch twice...once when it belonged to the NAWCC and once at the Patek museum...although it was placed in his open hand...and held onto by the watchmaker in charge of it. :-)

[sunnyd]

$24MM to someone who is probably worth billions or at the very least in the hundreds of millions, is nothing. Probably the equivalent to one of us buying a precious metal Rolex.

[Im Lauf der Zeit]

Originally Posted by sunnyd

$24MM to someone who is probably worth billions or at the very least in the hundreds of millions, is nothing. Probably the equivalent to one of us buying a precious metal Rolex.

Well, no probably about it, $24mn to a person worth a billion dollars is the same proportion as $24,000 to a person with a million dollar net worth...

[tix99us]

Originally Posted by FTX I

I understand why it was sold for that kind of money. Truly a masterpiece. What I don't get is why people spend triple on Andy Warhol.

x2

[Colin M]

It's a lovely time piece, But not worth that amount of money. As for paintings well why people pay obscene prices for them when the money would be far better helping those not so well off, just my view

[R.W.T.]

Well.......maybe some people who buy paintings with lots of money do help people who are not so well off....there will always be people with more and less. Most find themselves somewhere in the middle. I know people that would think any of us were INSANE for having one and especially more than one watch costing in the thousands of dollars when obviously we can get the time off of a phone that costs...wait how much 800.00 ? FOR A PHONE? oh...hmmm...

[sunnyd]

There are people who think we're crazy for spending thousands of dollars on a Rolex when they wouldn't spend more than $125 on a G-Shock.

[CrownMe]

Originally Posted by R.W.T.

If memory serves, the man who taught me watch repair has held that watch twice...once when it belonged to the NAWCC and once at the Patek museum...although it was placed in his open hand...and held onto by the watchmaker in charge of it. :-)

Cool story.

[007Sub]

wow... just wow! Such a complicated piece. I can't fathom how that was even created!

[R.W.T.]

I never claimed not to be crazy :-)

[Jason71]

Originally Posted by springer

The story and history of the watch is a a great read for those that have not read the article yet. Very, very nice.

http://www.dailymail.co.uk/news/arti...-owner-it.html

Thanks for the link John

[CaveDiver]

Originally Posted by R.W.T.

If memory serves, the man who taught me watch repair has held that watch twice...once when it belonged to the NAWCC and once at the Patek museum...although it was placed in his open hand...and held onto by the watchmaker in charge of it. :-)

Did he say anything about how massive the watch is for a portable carry? Where is the line between a watch and a desk top clock? It appears it would look gorgeous on a nice desk placed on a swivel stand. With the double dial, it would allow vistors and the desk owner clear view the the watch/clock.