Sylvester Stallone with the Patek Philippe Grandmaster Chime.
Photo: Courtesy Sotheby's
Auction of the Week: Sylvester Stallone’s Patek Philippe Timepiece Fetches $5.4 Million
The sale on June 5 included a Grandmaster Chime that became the most valuable modern watch sold in Sotheby’s history
Patek Philippe Grandmaster Chime from the collection of Sylvester Stallone that sold for $5.4 million at Sotheby's. Photo: Courtesy of Sotheby's
When rare and prized timepieces come across the auction block, they’re known to cause a bidding frenzy among collectors who clamor to own hard-to-come-by watches. The same fervent passion also raises paddles when unique items with celebrity provenance come to market.
On June 5, Sotheby’s found itself in the midst of a maelstrom as 11 timepieces owned by Oscar-winning actor, writer, producer, and director Sylvester Stallone appeared in the white-glove Important Watches auction at Sotheby’s. Acquired over the last two decades, the assortment included editions by Rolex, Audemars Piquet, Cartier, Piaget, and even screen-worn Panerai. The top lot, however, was undoubtedly his Patek Philippe Grandmaster Chime, often considered the “holy grail” of watch collecting.
Photo: Courtesy of Sotheby's
Drawing more than 200 bidders, the elusive accessory finally hammered after four solid minutes of back-and-forth sparring, achieving $5.4 million, far outpacing its $2.5 million to $5 million estimate. “I’ve had the privilege of owning some truly remarkable watches over the years, each with its own unique character and history,” Stallone said in a statement. “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.”
“I feel truly lucky to have owned them; they serve as a reminder that hard work pays off”
Sylvester Stallone
Sylvester Stallone with the Patek Philippe Reference 6300G-010 Grandmaster Chime he sold at Sotheby's Important Watches auction on June 5. Photo: Courtesy of Sotheby's
The Grandmaster Chime was introduced by Patek Philippe in 2014 to mark the atelier’s 175th anniversary, and was the culmination of a project launched seven years prior by Philippe Stern, Honorary President, who aimed to create the most intricate wristwatch in brand history. This example, the Grandmaster Chime Ref 5175, is identifiable by it’s reversible white-gold case hand-engraved with Patek Philippe’s hobnail pattern. With more than 20 complications, two independent dials, and five chiming modes—a grande sonnerie, a petite sonnerie, a minute repeater, a date repeater, and an alarm that chimes the programmed time—the assembly takes more than 100,000 hours.
Debuting as a limited edition, the piece became a part of Patek Philippe’s permanent collection as the most complex and first grande-sonnerie wristwatch ever added, in 2016.
This Panerai Reference PAM00382 Luminor Submersible 1950, worn by Sylvester Stallone in the movie The Expendables 2, achieved $96,000, far above its $30,000 to $60,000 estimate. Photo: Courtesy of Sotheby's
“While many recognize Stallone as the legendary actor behind characters like Rocky Balboa and John Rambo, watch enthusiasts know the legendary actor to be a noteworthy, influential, and truly passionate collector,” says Geoff Hess, Sotheby’s Head of Watches, Americas. “Each watch in this collection is imbued with his appreciation for fine craftsmanship and artistry.”
The Patek Philippe Grandmaster Chime was offered in its original single sealed casing and displayed in a handsome presentation box engraved with Stallone’s name. Other lots included a stainless steel and diamond Patek Philippe Nautilus, the most exclusive of this rare style, which was distributed only to the most elite of company collectors, and a Panerai PAM382 model that the actor wore in the movie The Expendables II, which was numbered N000/1000 suggesting it was the first example in the limited series.
Stallone's Cartier Reference W301970M Pasha Seatimer went for $66,000, more than double its high estimate of $30,000. Photo: Courtesy of Sothebys
The final tally of Stallone’s 11 timepieces was $6.7 million, more than $700,000 over its high estimate. “Looking at these watches, I feel truly lucky to have owned them; they serve as a reminder that hard work pays off,” said Stallone. “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.”
Cover: Sylvester Stallone with the Patek Philippe Grandmaster Chime.
Photo: Courtesy Sotheby's
