Cover Sylvester Stallone (Photo: Getty Images)
Sylvester Stallone (Photo: Getty Images)
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Sylvester Stallone created a bit of a stir when he put his own Patek Philippe Grandmaster Chime, one of the most coveted watches in the world, up for auction recently
Sylvester Stallone auctioned 11 of his watches at Sotheby's in New York on June 5, 2024, describing the decision as “bittersweet” and acknowledging that the watches symbolise hard-earned success. The New York auction included the very rare timepieces Patek Philippe Grandmaster Chime, which sold in its original packaging with an unbroken seal for US$5.4 million.
Stallone described the watch as a magnificent piece of art and admitted that he had never worn it. “I didn’t want to wear it around and bang it up. It was something to be admired,” he said in a video interview with Sotheby’s.
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Above Sylvester Stallone had never worn his Patek Philippe Grandmaster Chime and it was sold in its original packaging (Photo courtesy of Sotheby's)
Sylvester Stallone had never worn his Patek Philippe Grandmaster Chime and it was sold in its original packaging (Photo courtesy of Sotheby's)
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The Patek Philippe sale bothered some collectors and Thierry Stern, president of Patek Philippe, had even said, “It’s not fair for a client that may have been waiting for the piece for many years and then sees it being sold.”
Stallone may have jeorpadised his chance of ever getting another Patek Philippe in the future, according to Giovanni Prigigallo, the chairperson of EveryWatch. “In my opinion, it is highly likely that Stallone will not get allocated Patek Philippe watches in the future, especially not any special or coveted piece.”
Another notable Stallone watch that went on auction was the Panerai Luminor Submersible in bronze that appeared in the movie The Expendables 2. It sold for US$96,000. Stallone also sold his one-of-a-kind Panerai Submersible chronograph in yellow gold for US$90,000.
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Above The bronze Panerai Luminor Submersible that appeared in ‘The Expendables 2’ movie (Photo courtesy of Sotheby’s)
The bronze Panerai Luminor Submersible that appeared in ‘The Expendables 2’ movie (Photo courtesy of Sotheby’s)
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Rolex, Audemars Piguet, Cartier, and Piaget were the other brands in the mix. Stallone's watches raked in a total of US$6.7 million in sales, above the estimated US$6 million.
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This Rolex Day-Date is engraved with the name “Sly” on the caseback (Photo courtesy of Sotheby’s)
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Among the celebrity watches, the Paul Newman Rolex Daytona, which sold for more than US$17 million in 2017, is one of the most memorable. At that time, it was the most expensive watch ever sold, a distinction that is now held by the Patek Philippe Grandmaster Chime, which sold for a whopping US$31 million at the Only Watch auction in 2019.
While a famous name can increase the value of a watch, its appeal to a serious collector goes beyond that. Uniqueness is the key factor in determining whether the watch deserves attention.
"The history and uniqueness of a watch often matter more than its owner," opines Prigigallo. "For instance, the Patek Philippe watches of Michael Ovitz, the former Disney CEO, have become significantly more valuable due to his tasteful customisations. Similarly, watches from Jean Todt and Michael Schumacher fetched higher prices only when they were special editions or personalised. Most other watches from their collections sold at similar prices as the regular models."
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Brian Cheong leads the watch (Tatler GMT) and jewellery content at Tatler Malaysia, combining sharp editorial insight with years of luxury lifestyle experience. A seasoned journalist in luxury watches based in Kuala Lumpur, Brian had previously helmed World of Watches, Men's Folio and Prestige Malaysia.
