(IDEX Online) - A limited-edition Patek Philippe watch that was launched with a $35,893 price tag last April is now selling for up to $551,700.
Demand for the rare, olive green-dialed variant of the Nautilus 5711/1A model has been so intense that buyers are prepared to pay more than 1,400 per cent over the odds on the secondary market.
The market monitor Watch Charts currently reports $442,000 as a good price for the watch, but says buyers are prepared to fork out as much as $551,700.
The same watch, Nautilus 5711/1A, is available on secondary markets in other colors for a fraction of the price, around $140,000.
Patek Philippe president Thierry Stern said when the green-dial version was launched that it was in such short supply he couldn't even spare one for his son..