Rapper, music producer, businessman, and collector Jay-Z wears the Tiffany Blue Patek Philippe Nautilus watch for the first time. Patek Philippe stated in January that they would no longer be manufacturing the Nautilus Ref. 5711, making the limited edition watch that was released a week ago all the more special. The 2006 release of Ref. 5711 established the stainless steel sports watch as the market leader.

One of the most valuable collectibles is this. Only 170 Tiffany blue dial watches were produced, one for each year that Patek Philippe and Tiffany & Co. worked together. Last weekend, the first piece from the limited edition sold at auction for a record $6.5 million. Delivery to select buyers has not yet begun. The buyer, a collector from New York, is unnamed in Hodinkee’s story.

Considering Jay-Z’s reputation as one of the most avid U.S. celebrity watch collectors, it’s widely assumed that he splurged on this prototype. If accurate, his blue Nautilus Ref. 5711 outing this week is worth $6.5 M. In exchange for representing Tiffany & Co. with Beyoncé, Jay may have received a second example as a gift.

Jay-Z, who also produced The Harder They Fall, went to a special screening so he could network with other industry insiders. Below is an Instagram snapshot of him posing with director Jeymes Samuel during a panel discussion, when his dazzling blue watch is on full display.

The image was shared on social media by celebrity jeweler Alex Todd, who counts Jay-Z, Kevin Hart, Rihanna, and other high rollers who appreciate expensive timepieces and diamonds among his clients. The Blueprint, a unique blue-sapphire Richard Mille that cost $2.5 M and took over 3,000 hours to create, was a gift from Todd to Hova two years ago.

For nearly $52,000, you can get one of the last 169 Tiffany Blue Patek Philippe Nautilus Reference 5711. Tiffany, according to Patek Philippe CEO Thierry Stern in a recent interview, will have the last say on where each sample goes, driving up costs when they eventually hit the secondary market.