Audemars Piguet Code 11.59 sells for a record $1 million at Only Watch auction

It is not unknown for watchmakers to buy their own timepieces at auction - Rolex is rumored to have bought the Paul Newman Daytona that sold for a record $17.8 million back in 2017 - and there are good reasons for them to do so There may be a philanthropic reason, so buying your own watches at a charity auction is an act of pure generosity Auction prices are carefully studied by collectors looking to buy watches today that will hold or increase their value in the future.

Eye-catching auction prices build desire for watches currently in production, as we see for so many models from Rolex, Patek Philippe and others today The identity of the buyer for a Tourbillon Open-worked Code 11.59 by Audemars Piguet at this week's Only Watch charity auction has not been revealed It matters not a jot what the anonymous buyer's motives were when the hammer came down with a CHF 1 million value attached to the watch.

"We are proud to have contributed to this charity auction once more and help advance scientific and medical research," says François-Henry Bennahmias, Audemars Piguet chief executive officer of Audemars Piguet. . Source