Just 24 hours before “the most important watch in the world” goes up for auction in Geneva today, the owner – 48-year-old Sheikh Saud bin Mohammed Al-Thani of Qatar has died suddenly; somewhat ironically confirming that “you never actually own a Patek Philippe, you merely look after it for the next generation.” Though, it appears, in this case, as Hodinkee reports, the sale of Henry Graves Jr. Patek Philippe Supercomplication – which is expected to sell for in excess of $15 million today – was due to the Sheikh running into financial difficulties.
In absolutely fascinating news out of Qatar, the owner of the Henry Graves Jr. Patek Philippe Supercomplication, expected to sell for in excess of $15,000,000 tomorrow in Geneva, has died unexpectedly.
Its owner since 1999 when purchased at Sotheby’s for $11,000,000, Sheikh Saud bin Mohammed Al-Thani of Qatar passed away at his home yesterday, Sunday November 9th. Al-Thani was only 48 years old, and the official cause of death has not been released.
Al-Thani was a world-class collector of art, cars, watches, natural history, and well, just about everything. That is until he ran into financial difficulties and several of his pieces were put on the auction block.
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The Henry Graves Supercomplication by Patek Philippe is, according to Sotheby’s, the most important watch in the world.
First commissioned in 1925, the Supercomplication has an astounding 24 complications, making it the most complicated watch ever made by any watchmaker without the aid of computer technology.
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So is this Peak Patek, when even the oil-money is forced to sell assets?
via Zero Hedge http://ift.tt/1499QpC Tyler Durden