Patek Philippe does not make watches in titanium – or do they? Well, they kinda do, in super limited quantities, and when they do, the prices go insane. For example, during the 2013 Only Watch Charity, a 5004 in titanium sold for just under $4,000,000. That is not a typo. You can see our hands-on with that watch here.
Then, last year, Sotheby's offered a collection of unique titanium watches, and while prices weren't as silly as what we saw with Only Watch, they were still strong. Just last night Patek auctioned off another unique titanium watch, this time an annual calendar reference 5396 for the charity Children Action.
The auction took place last night, March 9th, 2015, in Geneva and after what can only be described as frantic bidding, the annual calendar sold for a whopping CHF 1,000,000. For an annual calendar!
The 5396T features a sapphire case back that is engraved with "Children Action 2015," and the dial of this unique piece has been modified from the production watch to be a silvery satin finish with blue accents and hands. The hand-stictched alligator strap is also blue. It should be noted that Patek Philippe actually invented the annual calendar (I bet a lot of you didn't know that!) in 1996 and the 5396 remains one of Patek's most popular models. It is the very same piece that received special treatment at the end of 2012 celebrated Patek's partnership with Tiffany & Co.
100% of the CHF 1 million (or ~1 million USD) will go to the Children Action Charity.