Hollywood star Sylvester Stallone has irked Patek Philippe’s president by flipping his ultra-rare Patek timepiece for a $2.9 million profit

The Grandmaster Chime is the most complicated wristwatch ever made by Patek Philippe, boasting twenty complications. The timepiece is so rare and exclusive that the Swiss luxury watchmaker only sells it to their most loyal patrons, who undergo a tedious vetting process. Hollywood legend Sylvester Stallone flipping his white gold version for a profit was surely bound to ruffle some feathers. Sly’s Patek Philippe Reference 6300G-010 Grandmaster Chime managed to fetch $5.4 million at Sotheby’s New York auction a few days back, earning the action superstar a profit of over $2.9 million. WatchPro spoke with Patek Philippe president Thierry Stern at a preview of Patek Philippe’s Rare Handcrafts exhibition at the brand’s Bond Street boutique in London. During the interaction, the brand’s chief boss clearly expressed his displeasure with Stallone and his decision to sell the ultra-exclusive timepiece.

The most complicated Patek Philippe watch ever made, the Grandmaster Chime 6300G, is one of the most sought-after timepieces in the world.

Speaking to WatchPro, Mr. Stern said: “Of course we do not like it, but it can happen. I cannot control everybody. It is not fair for a client that may have been waiting for this piece for many years and then sees it being sold.” Stallone purchased the Grandmaster Chime in 2021 from an authorized dealer in the United States for $2.5 million. In a YouTube video for Sotheby’s that was released before the auction, Sly revealed how he had to personally appeal and write letters to the Patek board to get the green signal to buy the Grandmaster Chime. Mr. Stern also admitted that it was very difficult for him and his team to control what the clients do with their watches.

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Stallone pocketed a cool $2 million+ profit by flipping the Grandmaster Chime.

“Yes, that is part of the job,” Mr. Stern said. “We can be vigilant, but we cannot be perfect. I can be criticized, and I do get e-mails complaining that I have sold a watch to this person or that person, who is then selling it. Could those people do better than me [at judging who might resell a watch]? If they have a crystal ball, and think they can do better than me, then please propose it. You cannot control humans one hundred percent. Those risks are part of success. You have to accept them and see how to handle it in the future.” Stallone’s Grandmaster Chime auction has also angered the watch community, while Patek Philippe’s retail partners are also facing the heat. It also puts a serious dent in Patek’s reputation amongst serious watch collectors who have not been given the opportunity to buy the extraordinary timepiece despite their willingness to pay the sticker price. This was the first time a Grandmaster Chime crossed the auction block, except for the one-off steel version that was sold for a whopping $31 million at the Only Watch charitable auction, setting a new record.

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Sayan Chakravarty, a Senior Writer at Luxurylaunches, brings over 10 years of automotive journalism expertise. He provides insightful coverage of the latest cars and motorcycles across American and European markets, while also highlighting luxury yachts, high-end watches, and gadgets. An authentic automobile aficionado, his commitment shines through in educating readers about the automotive world. When the keyboard rests, Sayan feeds his wanderlust, traversing the world on his motorcycle.