Phillips auction house in Geneva has set a record for watch prices. The steel watch by Patek Philippe which has a moon phases indicator and everlasting calendar was sold for 11 million Swiss francs, reports Lenta.

Geneva Watch Auction was held on November 12-13 and was bidding for Rolex and Patek Philippe watches. For the first time in the history, all options of 1518 fabulous models of Patek Philippe watches were present at the auction.

The most expensive model of Rolex watches was Oyster Cosmograph Paul Newman, sold for 874 thousand francs.