A fourth series Patek Philippe ref 2499 was the undisputed star of Christie’s watch sale in Dubai on March 19.

It realised $499,000, making it the most valuable watch ever auctioned in the UAE.

Ref 2499 is one of the most sought after watches in the world

The reference is one of Patek Philippe’s most sought after creations. It was introduced to the market in 1950 and was lauded for its attractive looks and superior construction.

Only 349 were made - between 1950 and 1985.

That’s an average of around nine watches a year.

This one is from the fourth series and was made circa 1980-1985. 

While most of these watches feature a yellow gold case, a handful were produced in other materials. An extremely rare pink gold example sold for $2.5m in Hong Kong last year.

Christie’s commented in the run-up to the sale: “Widely acknowledged as one of the world’s greatest watch models ever created, reference 2499 has undoubtedly strongly influenced the designs of many of the most renowned watchmakers.

“Introduced to the market in 1950, it replaced the legendary reference 1518, the world’s first perpetual calendar wristwatch with chronograph made in series.”

There was also a Richard Mille skeletonised tourbillion watch which achieved $457,500 against an estimate of $160,000 (up 185.9%).

It dates to around 2006 and is one of an edition of 30.

In all, the auction pulled in $5.3m – making it the most valuable watch sale ever held in the Middle East.

Please sign up to our free newsletter to receive exciting news about watch and jewellery auctions.