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Watch This Tense 4-Minute Bidding War for Sylvester Stallone's Prized Watch — Ending in Purchase of Over $5 Million Stallone's collection of rare watches went up for auction through Sotheby's on Wednesday.

By Emily Rella Edited by Melissa Malamut

"Rocky" star Sylvester Stallone's highly anticipated collection of rare and vintage watches went up for auction this week, and the 11-piece collection sold for $6.7 million — beating original pre-sale estimates.

One timepiece, the Patek Philippe Grandmaster Chime, broke the record for the most expensive modern watch ever sold through Sotheby's after it garnered an offer of $5.4 million. It was originally estimated to sell for between $2.5 million and $5 million.

Related: Sylvester Stallone Patek Philippe Set for Sotheby's Auction

"The sale of the Patek Philippe Grandmaster Chime was an unrepeatable celebration, not only of a masterpiece by the most revered Swiss watchmakers of technical excellence but also of the legendary icon that is Sylvester Stallone, who has been a deeply influential and admired collector for many decades," Geoff Hess, Sotheby's head of watches, Americas, said in a statement.

In a video posted to Instagram, five hopefuls can be seen going to bat for the watches in a bidding war that lasted nearly four minutes in front of over 100 attendees.

The watch was eventually won by a private, anonymous collector based in Asia.

"I've had the privilege of owning some truly remarkable watches over the years, each with its own unique character and history," Stallone said in a statement last month, ahead of this week's auction, per GQ. "I enjoy the collecting process like so many others in this passionate community, who don't just see watches as an accessory, but admire them for their history, craftsmanship, artistry—but most importantly—how they make them feel."

Related: 'Ultra Rare' Apple Sneakers Set for $50K Sotheby's Auction

Other timepieces in Stallone's collection that were sold included watches from luxury brands such as Cartier, Rolex, Piaget, and Panerai.

Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

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