A Patek Philippe wristwatch that once held the record for being the world’s most expensive timepiece has once again made history. The Patek Philippe Perpetual Calendar Chronograph Reference 1518, crafted in 1943, fetched a staggering 14.19 million Swiss francs ($17.6 million) at a Phillips auction in Geneva this weekend — surpassing its previous sale price of 11 million francs ($11 million) from 2016.
The stainless-steel Reference 1518 is one of only four known to exist, making it one of the rarest and most sought-after watches in horological history. While most of the 280 models of Ref. 1518 were encased in yellow or pink gold, these four stainless steel editions are considered the holy grail for collectors.
“The sale reaffirms the Ref. 1518’s status as one of the most historically significant wristwatches ever made,” said Phillips auctioneers following the sale.
⏱️ A Race of Legends: Record-Breaking Watches
The Patek Philippe Ref. 1518’s earlier world record in 2016 was overtaken a year later by Paul Newman’s Rolex Daytona, which sold for $17.8 million, and later by another Patek Philippe — the Grandmaster Chime — which shattered all records with a $31 million sale in 2019.
Despite that, the renewed interest and record-breaking bid this weekend have once again cemented Ref. 1518’s position as a crown jewel in vintage watch collecting.
The Geneva sale took just under 10 minutes, drawing five bidders, with the final winning offer made by a telephone bidder. The event was held at the Hotel President in Geneva, with several renowned collectors, dealers, and master watchmakers present to witness history being made.
💎 The Watch That Defined Horological Perfection
Launched in 1941, the Patek Philippe Ref. 1518 was the world’s first serially produced perpetual calendar chronograph — a groundbreaking innovation for its time.
Its stainless steel construction remains a mystery, as Patek Philippe typically reserved steel for sports watches, not high complications. The model’s blend of mechanical innovation, design precision, and timeless rarity has earned it what experts call “mythical status” in the luxury timepiece world.
“Once you own a Ref. 1518, you’ve reached the summit of collecting,” Phillips said in a statement.
💰 Auction Highlights
- Auction House: Phillips, Geneva
- Sale Price: 14.19 million Swiss francs ($17.6 million)
- Previous Record (2016): 11 million francs ($11 million)
- Buyers: Five bidders (final sale via telephone)
- Total Auction Sales: 66.8 million Swiss francs across 207 lots
- Participants: 1,886 registered bidders from 72 countries
This sale marks the highest total ever achieved for a watch auction, according to Phillips — reaffirming that the art of watch collecting continues to tick stronger than ever.
