A 2004 Patek Philippe platinum wristwatch has sold for nearly $500,000 in New York, auction house Sotheby's has said.

The platinum tonneau automatic minute-repeating perpetual calendar wristwatch with retrograde date and phases of the moon, went under the hammer for $482,500 at the auction firm's sale of "Important Watches & Clocks".

One of the most complicated pieces ever made by Patek Phillipe, the watch consists of 515 individual parts, reports National Jeweler.

It was just one of a number of timepieces at the sale, which realised a total of $8.8 million.

"We are thrilled with today's record result for New York," John Reardon, head of Sotheby’s watches department in New York, said.

Meanwhile a 1937 Patek Philippe 18-karat yellow gold world time wristwatch fetched exactly the same amount as the platinum watch.

Timepieces from Cartier and a selection made for the Chinese market also sold well at the New York auction.

Source:

Sotheby’s New York watch sale sets record (09/12/11)

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