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 as it goes under the hammer.

The limited edition 1946-manufactured Patek Philippe #1436 has an estimated value ranging from $400,000 to $800,000 and is being auctioned up until Sunday, but some experts say it could even go for over $1Million.

The First State Auctions’ online auction also features fine jewellery, gemstones, designer handbags, and a rare collection of 20 Argyle pink diamonds, collected over two decades by a former Rio Tinto employee. 

Bidding has already started on the 500 lots but interested parties must register first at the First State Auctions website.

The Patek Philippe watch is crafted in 18ct yellow gold, has a manual winding mechanism, a split second chronograph, a Patek Philippe black leather strap, and a Patek Philippe 18ct gold 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 renowned for exceptional craftsmanship, attention to detail.

The watchmaker boasts a rich heritage, which dates back to 1839. 

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

First State Auctions employee Lili Mustakov said the current auction was a rare opportunity to buy such a highly sought after timepiece. 

‘Patek Philippe watches are often retained as personal family heirlooms so they rarely become available to purchase and are therefore known for their strong investment and resale value,’ she said.

‘Vintage models such as this #1436 can command incredibly high prices at auctions among collectors and watch enthusiasts because they are so hard to come by.  

‘I’m excited to see this watch make history in the Australian auction arena.’