Rare Patek Philippe watch is set to become the most expensive watch ever sold in Australia – and you won’t believe the eye-watering price

A rare Swiss watch is set to break Australian records when it goes under the hammer.

The 1946 limited edition Patek Philippe #1436 has an estimated value of $400,000 to $800,000 and is being auctioned through Sunday, but some experts say it could go for more than $1 million.

First State Auctions’ online auction also features fine jewelry, gemstones, designer handbags and a rare collection of twenty Argyle pink diamonds, collected over the past twenty years by a former Rio Tinto employee.

Bidding has already started on the 500 lots, but interested parties must first register on the Website of the First State Auctions.

The Patek Philippe watch is made of 18-carat yellow gold, has a manual winding mechanism, a split-second chronograph, a black Patek Philippe leather strap and an 18-carat gold Patek Philippe buckle and gold bars.

It was last sold in 1949.

Only 160 #1436 watches were produced over a 30-year period.

Patek Philippe watches are known for their exceptional craftsmanship and attention to detail.

The watchmaker has a rich heritage, dating back to 1839.

A 1939 Patek Philippe timepiece sold for more than $2.6 million at a 2021 Christie’s auction in Hong Kong.

First State Auctions employee Lili Mustakov said today’s auction was a rare opportunity to purchase such a highly sought-after timepiece.

“Patek Philippe watches are often kept as personal family heirlooms so they are rarely available for purchase and are therefore known for their strong investment and resale value,” she said.

‘Vintage models such as this No. 1436 can fetch incredibly high prices at auction among collectors and watch enthusiasts because they are so difficult to obtain.

“I am pleased to see this watch making history in the Australian auction arena.”