Phillips in Association with Bacs & Russo will present one of the rarest and most important wristwatches in the world this November: the very first stainless-steel Patek Philippe Ref. 1518 ever made.
Engraved with the number 1 inside the caseback, this extraordinary timepiece will headline the Decade One (2015–2025) Auction in Geneva on 8 – 9 November.
The Patek Philippe Ref. 1518 holds a special place in horological history as the world’s first perpetual calendar chronograph wristwatch, introduced in 1941.
While around 281 examples were produced – most in yellow or pink gold – only four are known in stainless steel. This particular watch, manufactured in 1943, was sold in Budapest in 1944 and is now recognized as the very first steel 1518 ever created.
The watch last appeared at Phillips Geneva Watch Auction: FOUR in 2016, where it sold for an eyewatering CHF 11,002,000. That result not only made it the most expensive wristwatch ever sold at auction at the time but also the first to surpass the eight-figure mark, cementing its status as a cultural and collecting icon.
To this day, it remains the most expensive vintage Patek Philippe ever sold at auction.
Now estimated between CHF 8,000,000 and 16,000,000, the return of the steel Ref. 1518 represents a once-in-a-generation opportunity for collectors.
Preserved in exceptional condition with a 35mm steel case by Georges Croisier and a dial by Stern Frères, it remains to be seen whether this unicorn of watchmaking will set a new benchmark in the brand’s history.