Auction Patek Philippe Icon Ref. 1518 to Headline the Upcoming Phillips Auction

Phillips with Bacs & Russo to Offer the First Watch to Break the $10 Million Barrier, The Stainless-Steel Patek Philippe Ref. 1518. Introduced in 1941, Patek Philippe’s Ref. 1518 holds a unique place in horological history. Launched in the midst of World War II, it was the world’s first perpetual calendar chronograph wristwatch, according to Phillips auction house. 

Believed to be one of only four known examples in stainless steel, this watch last appeared on the market in November 2016 during the Phillips “Geneva Watch Auction: FOUR,” where it achieved more than CHF 11 million. At the time, it became the most expensive wristwatch ever sold at auction, and the first to surpass the eight-figure mark. To this day, it remains the most expensive vintage Patek Philippe watch ever sold at auction.

Now, this extraordinary stainless-steel Ref. 1518 returns as one of the highlights of the upcoming Phillips “Decade One (2015–2025) Auction” in Geneva, taking place on November 8 and 9. Its estimate is set between CHF 8 million and 16 million ($9.9 million–$19.9 million).

“Just four stainless-steel Patek Philippe reference 1518s are publicly known today. Each one is extraordinary. This is the watch that captured the world’s attention in 2016,” said Aurel Bacs, Senior Consultant at Phillips in Association with Bacs & Russo. “It redefined the market and ushered in a new era in watch collecting. For seasoned collectors and newcomers alike, its return to auction marks a moment of rare opportunity.”

The watch is housed in a 35mm stainless-steel case by Georges Croisier and fitted with a beautifully preserved dial by Stern Frères. It bears case number 508’473 and movement number 863’193. Beneath the case number is the digit “1,” denoting that this was the very first steel Ref. 1518 ever produced.

The dial features a balanced and highly legible design, with day and month apertures at 12 o’clock, subsidiary dials for the 30-minute register and running seconds at 3 and 9 o’clock respectively, and an oversized moon-phase display combined with a date indication at 6 o’clock. Encircling the dial is a tachymeter scale.

Over the years, subtle variations appeared among Ref. 1518 dials. Following World War II, the long-form signature “Patek Philippe & Co.” was shortened, omitting the “Co.” Early examples also displayed larger weekday and month apertures with less pronounced facets, while the tachymeter scale was more compressed, with smaller calibrations.

This particular example was manufactured in 1943, two years after the introduction of the model, as confirmed by its Extract from the Archives. It was originally sold to the Budapest-based retailer Joseph Lang on February 22, 1944.

For more information visit Phillips official website.