A Patek Philippe Reference 1518 watch, with stainless steel bracelet, produced 73 years ago, is officially the most expensive watch sold at an auction.

The expensive watch from Patek Philippe was this week awarded with 11 million dollars. On the clock”s face it can be seen a calendar showing the moon phases mechanism, a tachometric scale and Arabic numerals indicating hours.

The auction was held in Geneva and it was supported by the Phillips house. The battle for this great clock started at $ 3 million, to an end 13 minutes later at a cost of 11 million dollars.

A consultant from  Phillips House, Aurel Bacs, who supported the bid said it was a privilege for him to present such a delicate watch at the sale.

It was impressive for me to be in front of a room full of 400 people, knowing that 500 other enthusiasts around the world are following the auction clocks online and on the phone – was downright electrifying.

This world record is another proof that watches market is still known as one of the pillars of the international community of art collectors. ”

The previous record price was set also at an auction supported by Phillips House, a year ago, when Patek Philippe clock was sold for 7.3 million dollars.