Watch enthusiasts who would like to add a rare Patek Philippe Nautilus to their collection can now own a piece of the pricey timepiece in the form of a digital non-fungible token.
The first-ever Patek Philippe NFT based on the discontinued watch model is being sold by NFT marketplace SM-ART—an accessory valued for its position as a classic premium stainless steel sports watch as well as a connection to dashing A-listers like Jay-Z, Jason Statham, and Brad Pitt.
The sale has two components, according to Robb Report. The genuine NFT includes a movie depicting the Nautilus’ journey from famed designer Gerald Genta’s first design sketch on a napkin through its premiere in 1976 and curtain call in 2006.
The physical watch will be fractionalized as a non-fungible asset following the auction, allowing registered SM-ART users to buy and exchange shares.
“The NFT of the Patek Philippe ‘Nautilus’ is as groundbreaking and unconventional as the watch was in its time and we wanted to pay homage to that,” says Danny Sangha, co-founder of SM-ART in a statement.
“We were very cognizant of the craftsmanship that went into it and have taken the same care with the NFT development. While there are very brief sneak peeks of the NFT on our website, the full NFT won’t be revealed until the day of auction.”
The prices for one of the last Nautlius models—ref. 5711—rose up from $40,000 in 2017 to $80,000 in 2019.
As for the SM-ART Patek Philippe Nautilus auction, it kicks off on November 18 at 12 p.m. EST and runs for 72 hours. Click here to learn more.
