Rationalising the value of a watch: Patek Philippe Ref. 1518 in Stainless Steel

Last week, we see history being made with the world’s most expensive wristwatch sold at an auction. The bidding for the Patek Philippe Ref. 1518 in Stainless Steel started out at CHF 3,000,000 which eventually concluded at CHF 9,600,000 at the Geneva Watch Auction: Four. Ann the buyer’s premium, and th price tag is just a tad…