Cover London dealer A Collected Man sold the Philippe Dufour Grande et Petite Sonnerie for US$7.63M (Photo: A Collected Man)

The Philippe Dufour Grande et Petite Sonnerie Number 3 is the most expensive watch made by an independent watchmaker ever to be sold publicly

A Philippe Dufour Grande et Petite Sonnerie Number 3 has been sold for US$7.63 million by London-based dealer A Collected Man.

The watchmaker is known for being the first to put two of the most complex of complications into a single wristwatch with its 1992 grande and petite sonnerie—both of which use tiny hammers and gongs to sound the time without any involvement from the wearer.

Originally made for the Sultan of Brunei in 1995, the pictured Philippe Dufour Grande et Petite Sonnerie Number 3 is just one of eight pieces handmade by Dufour, who is widely recognised as the most accomplished living watchmaker. Dufour's most complicated watch to date, the wristwatch last appeared publicly almost 10 years ago.

This week's sale has set a new world record as the most expensive independent timepiece ever sold, as well as one of the top 10 priciest watches to change hands publicly.

See also: 7 Of The Most Expensive Watches Ever Sold At Auction

Silas Walton, CEO and founder of A Collected Man, believes that this latest transaction is proof that the market for pre-owned watches continues to skyrocket. "This is, quite simply, one of the most important and coveted watches to have hit the market in recent times.

"The Philippe Dufour Grande et Petite Sonnerie represents an absolute pinnacle of craftsmanship, and is the result of years of painstaking work and unrelenting vision from one of the masters of modern watchmaking," he says. "As the independent pre-owned watch space goes from strength to strength, we are thrilled to have the opportunity to list this truly iconic and unique piece."

See also: How To Start Watch Collecting: The Do’s and Don’ts of Buying A Watch