Patek Philippe 'Asprey' Watch Could Fetch $4 Million at Sotheby's Auction

The coveted wrist watch was made in 1952 by Patek Philippe.

Time is money. One of the world's most coveted watches, known as the "Asprey," may fetch up to $4 million at a Sotheby's auction in Geneva next week.

The Patek Philippe wristwatch was assembled in 1952 and was sold by Asprey, a luxury goods store that has stood in London since the 1700s.

It has been described as "a legend" in the collecting community and is being sold at auction on Tuesday for only the second time in the timepiece's history.

It was first sold by gavel in December 2006, also at Sotheby's in Switzerland, for $1.77 million, a world record at the time.

Its presale estimate for Tuesday's auction is $2 million to $4 million.

The perpetual calendar chronograph is one of the most sought-after models produced by the Swiss clock maker.