Here's a closer look at some of the world's most expensive watches:
The Bulova Chronograph
This is one of the only watches worn on the moon. Astronaut Dave Scott took it to the lunar surface during the Apollo 15 mission back in 1971. Last year it sold at auction for an out-of-this world $1.6 million.
The Patek Philippe Grandmaster Chime
Built with more than 1,300 handmade parts, this watch took 100,000 hours to develop. It's one of the most complicated timepieces ever made and one of the most expensive, too, with a price tag of $2.6 million.
The Patek Philippe Reference 1518
It's one of the rarest vintage watches in the world. Back in the '40s, Patek built only four of stainless steel. When a collector recently paid $11.1 million to wear it home, it became the most expensive wristwatch ever sold at auction.
As these watches make clear, sometimes time really is money.
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