Growth may be slowing in Asia, but buying ridiculously expensive items there is not.The Wall Street Journal’s John Revill reports a watch worth $5 million from LVMH-owned horologer Hublot was recently purchased.
Hublot chairman Jean-Claude Biver would only describe the buyer as “an Asian retailer.” He mentioned the sale during this month’s Baselworld watch show.
The piece is forged from white gold and encrusted with 1,282 diamonds weighing more than 100 carats. Unlike most high-end watches, Hublot’s designers mocked up a design base, then cut each diamond to fit the scheme, according to Hublot’s release.
It took 14 months to manufacture and is the most expensive watch Hublot has ever made, the release says. According to The Telegraph, it’s tied for the second-most expensive watch ever sold.