Watch collectors watched in amazement as a Patek Philippe broke the record for the world’s most expensive watch with an auction price of $31 million at a Christie’s auction in Geneva, Switzerland. The watch’s new owner was an anonymous phone bidder. The auction raised more than $38 million for a charitable organization that benefits Duchenne muscular dystrophy. The one-of-a-kind timepieces were all sold without commission or reserve price.

The record-breaking Patek Philippe is the Grandmaster Chime Ref. 6300. It has two dials—a salmon-colored one that tells time, and an ebony black dial with a calendar. It has 20 special functions and five chiming modes. This watch is the only Grandmaster Chime made of stainless steel, explaining the inscription “The Only One” on its dial. The price was 10 times more than its high estimate. The previous record-breaker was a Patek Philippe pocket watch which sold in 2014 for $24 million.

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