Thanks to court documents filed with the New York Department of State, the previously unknown owner of the most expensive watch ever sold at auction has been revealed. The $11 million Patek Philippe supercomplication pocket watch made for renowned collector Henry Graves is now known to be owned by Qatari Royal Family member Sheikh Saud Bin Mohammed Bin Ali Al-Thani. The Patek Graves Supercomplication was sold by Sotheby’s in 1999 for a world-record $11,002,500. The high bidder at the time? Anonymous.
In a bizarre and unfortunate turn of events for the Sheikh, the Qatari Royal was forced to pledge the Graves Supercomplication (and almost 240 other items valued at almost $83 million) to Sotheby’s to cover debts owed to the auction house. Read the full story as reported last Friday by Bloomberg.
The 18-karat gold pocket watch made by Patek Philippe for banker Henry Graves Jr. in 1933.
It sold for $11 million in 1999 at Sotheby’s, a record price for any timepiece at auction.