Post by : Rameen Ariff

A stunning Patek Philippe Perpetual Calendar Chronograph Reference 1518, made in 1943, has achieved an incredible price of 14.19 million Swiss francs ($17.6 million) at an auction in Geneva, once again elevating its status among the most coveted timepieces globally.

The auction, organized by Phillips Auction House, lasted less than ten minutes, with five bidders competing for this extraordinary watch. Ultimately, it was sold to a bidder on the phone, as seasoned collectors and watch enthusiasts filled the venue at the Hotel President in Geneva to witness this groundbreaking event.

This particular stainless-steel Patek Philippe had previously broken records in 2016, when it sold for 11 million Swiss francs ($11 million), marking the highest price ever recorded for a wristwatch at that time. Its most recent sale demonstrates a significant 29% increase in value over nine years, solidifying its status among esteemed horological experts.

Regarded for its exquisite craftsmanship and rarity, the Patek Philippe Reference 1518 debuted in 1941 as the world's first serially produced perpetual calendar chronograph, a notable achievement in mechanical engineering. Of approximately 280 pieces crafted, while most were encased in yellow gold, only a few were in pink gold, and just four were created in stainless steel.

This specific watch is considered to be the first stainless-steel model ever made, adding to its legendary allure. Its minimalist design and precise mechanics contribute to its significance in luxury watchmaking history.

“The Patek Philippe 1518 exemplifies the apex of design excellence, mechanical innovation, and scarcity,” stated Phillips following the sale. “This piece defines what it means to be at the pinnacle of watch collecting.”

Despite this 1943 model being outdone in 2019 by the Patek Philippe Grandmaster Chime, which fetched $31 million, its recent auction result underscores its lasting esteem in the luxury watch arena.

The two-day auction at Phillips featured 207 items, amassing total sales of 66.8 million Swiss francs, marking the highest total ever for a watch auction. It attracted 1,886 registered bidders from 72 nations, highlighting a growing global interest in rare vintage watches.

With its enduring craftsmanship, limited availability, and enigmatic history, the Patek Philippe Reference 1518 remains the benchmark for luxury watch collectors around the globe.

#Global #World