Sylvester Stallone's Patek Philippe watch is up for auction & may fetch $5 million. Here's why

This Patek Philippe Grandmaster Chime is one of only seven ever crafted and has 20 complications. (Image: sothebys.com)

Hollywood icon Sylvester Stallone is all set to auction his a few luxury watches from his prized collection.

The June 5 auction in New York will see 11 of the “Rocky” actor-writer's watches up for grabs. Among the star-studded lineup is the Patek Philippe Grandmaster Chime, hailed as the "holy grail" for aficionados, poised to fetch a staggering $5 million at the Sotheby's auction.

This exclusive timepiece, one of only seven ever crafted, has 20 complications, including five chiming mechanisms and a date repeater that audibly announces both time and date.

"This is not easy to come by," Stallone revealed in an interview. "I had to appeal to certain powers that be, write many letters to the board, and eventually, it was determined that I was going to be the owner of one of these magnificent pieces of art."

Other watches from Stallone's collection include a Patek Philippe Nautilus boasting an olive-green dial encircled by 32 Wesselton baguette diamonds, expected to command up to $400,000. Stallone's affinity for Panerai, showcased notably in the 1996 film "Daylight," adorned with a commemorative engraving is also up for sale.

The auction also features timepieces worn by Sylvester Stallone on-screen, such as a Rolex commemorating the 60th anniversary of a classic model and an Audemars Piguet masterpiece featuring a blue face in a pink gold case.

Stallone, 77, developed a passion for collecting watches after being spotting musician Gregg Allman's distinctive gold watch after the filming of Rocky (1976). Since then, he has been an avid watch collector.