A one-of-a-kind Patek Philippe Grandmaster Chime Ref. 6300A has set the record for the world's most expensive watch. Yesterday it sold for a record-breaking  31 million CHF (approximately $31 million).

The timepiece went under the hammer yesterday at a charity auction where luxury brands donated special editions of their most prized wares.

Forbes reports that the Grandmaster Chime reference 6300A-010 was specially made for Only Watch, and it's the only iteration to be constructed from stainless steel. Take a look below.

Covered in an engraved 18k rose gold case, the double-face reversible timepiece features a perpetual calendar, a minute repeater, a second-time zone, a leap year cycle, and esoteric chiming mechanisms.

The movement is extremely complex, constructed by four different layers and comprised of 1,366 parts. With 214 case components, it's the most complex wristwatch the brand had ever produced.

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