In the realm of watches, it is the rarest references that fetch staggering prices at auction and on secondary markets. In full acknowledgement of this fact, a rare Patek Philippe Ref. 1518 in stainless steel has emerged, bearing a price tag that exceeds USD 20 million. If sold, this Patek Philippe could become the most expensive watch ever sold.
Patek Philippe Ref.1518 poised to become most expensive watch ever sold
Offered through Monaco Legend Group in a private sale, the timepiece is poised to become the most expensive wristwatch ever sold outside of charity auctions.
If the Patek Philippe Ref.1518 reaches its asking price, it will surpass all previous records for privately sold watches, marking a significant moment in the world of vintage watch collecting.
The Patek Philippe Ref.1518 is widely regarded as one of the most important wristwatches ever produced. Introduced in 1941, it was the first serially manufactured perpetual calendar chronograph – an engineering feat that remains impressive even by today’s standard. Across 14 years of production, only 281 pieces were made with the vast majority in yellow or pink gold. Of these, only four examples are known to exist in stainless steel, making this variation one of the rarest and most sought-after timepieces in the world. This particular piece is the only one originally sold on a matching stainless steel bracelet, as confirmed by its Extract from the Archives dated July 29 1946.
First auctioned in Monaco in 1989, it has since been owned by prominent collectors, including luxury textile entrepreneur Gerolamo Etro, vintage watch dealer Helmut Crott, and historian Davide Parmegiani. It was later featured in John Goldberger’s Patek Philippe Steel Watches.
The last Patek Philippe 1518 in steel to appear at auction garnered over USD 11.5 million in 2016. Should this latest example achieve its listed price, it would surpass all previous records for non-charity sales, redefining the market for vintage Patek Philippe timepieces.
(Main and featured image: Monaco Legend Auctions)
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