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Patek Philippe 1518 Shatters Auction Records in Geneva

A stainless steel Patek Philippe Ref. 1518 sold for US$17,631,075 at Phillips’ Geneva auction, making it the most expensive vintage Patek Philippe wristwatch ever sold at auction.

Por: Raquel Seijas
PHILLIPS AUCTION GENEVA PATEK _PHILIPPE
Phillips in Association with Bacs & Russo hosted Decade One (2015–2025), a two-day auction at Geneva, including the most expensive vintage Patek Philippe wristwatch ever sold at auction / Photo © Phillips - Joy Corthesy

The world of luxury watchmaking witnessed a landmark event: Phillips in Association with Bacs & Russo hosted Decade One (2015–2025), a two-day auction at Geneva’s prestigious Hotel President sealed with records, including the most expensive vintage Patek Philippe wristwatch ever sold at auction.

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This sale marked the 10th anniversary of Phillips’ Watch Department, a decade defined by unparalleled scholarship, record-breaking sales, and the cultivation of a global community of horology enthusiasts.

Patek Philippe Perpetual Calendar Chronograph Ref. 1518, manufactured in 1943 / Photo Courtesy Phillips

Almost 800 collectors and enthusiasts attended in person, while 1,886 registered bidders from 72 countries participated online or by phone.

 

The atmosphere was electric, blending the thrill of competition with the warmth of shared passion. The result? A white-glove sale—every lot sold—totaling CHF 66,815,725 (approximately US$83,018,538 or €71,753,407).

Almost 800 collectors and enthusiasts attended in person / Photo © Phillips - Joy Corthesy

The Star of the Show: Steel Patek Philippe Ref. 1518

The undisputed highlight was the stainless steel Patek Philippe Perpetual Calendar Chronograph Ref. 1518, manufactured in 1943. This horological masterpiece achieved CHF 14,190,000 (about US$17,631,075 or €15,238,641), making it the most expensive vintage Patek Philippe wristwatch ever sold at auction.

The Ref. 1518 is renowned for its rarity, historical significance, and timeless design. Only a handful of stainless steel examples are known to exist, and this particular piece had previously set a record in 2016 when it sold for CHF 11,002,000 (US$ 11,112,020 ) —also at Phillips. Its return to the auction block in 2025 was met with intense anticipation.

Phillips Auction by Phone / Photo © Phillips - Joy Corthesy

The Bidding Frenzy

The bidding lasted nine minutes and 28 seconds, with five determined bidders competing in the room and on the phone. The final gavel fell in favor of a phone bidder, cementing the Ref. 1518’s status as a grail watch for collectors worldwide.

Patek Philippe Perpetual Calendar Chronograph Ref. 1518, manufactured in 1943 / Photo Courtesy Phillips

Other Record-Breaking Timepieces

While the Ref. 1518 stole the spotlight, the auction featured an array of exceptional watches:

  • Pink-on-Pink Patek Philippe Ref. 1518 (1947): One of approximately 15 known examples, it sold for CHF 3,569,000  (US$4,434,483 – €3,832,749)

  • Ferdinand Berthoud “Naissance d’Une Montre 3”: A unique, recently completed timepiece, sold for CHF 1,270,000 (US$1,577,975 – €1,363,853), setting a brand record and supporting traditional watchmaking education.

  • F.P. Journe Chronomètre à Résonance Souscription No. 2 (2000): Realized CHF 3,327,000 (US$4,133,798 – €3,572,865).

  • F.P. Journe Tourbillon Souverain TN “Régence Circulaire” (2019): Achieved CHF 1,693,500 (US$2,104,174 – €1,818,650), the highest price for an F.P. Journe Tourbillon Souverain TN at auction.

Rolex Highlights

  • Daytona “Paul Newman” Ref. 6239 “Golden Pagoda” (1967): Sold for CHF 1,079,500 (about US$ 1,352,123), a world record for the configuration.

  • Daytona Ref. 6263 “Paul Newman, Oyster Sotto” (1971): Achieved CHF 1,391,000 (US$ 1,742,304).

  • Day-Date “Rainbow” Ref. 18059 “Red Khanjar” (1985): Originally owned by Sultan Qaboos bin Said Al Said of Oman, sold for CHF 1,079,500 (about US$ 1,352,123).

  • Daytona Ref. 6269 with “Red Khanjar” Caseback: Sold for CHF 1,378,900 (US$ 1,727,148).

The Ambiance: A Global Gathering of Watch Enthusiasts

The auction was a reunion of the world’s most passionate collectors. The preview and auction days were filled with energy, camaraderie, and a shared appreciation for fine watchmaking.

Alexandre Ghotbi and Tiffany To, key figures at Phillips, reflected on the sale’s success: “The results are a testament to the trust and confidence collectors place in us. Every bid represents a shared passion for watchmaking.”

Aurel Bacs and Livia Russo, Phillips’ Senior Consultants, added: “What an incredible way to celebrate our 10th anniversary—with a white-glove auction achieving CHF 66.8 million. Our global community knows they can count on us for exceptional watches and extraordinary results.”

Decade One (2015–2025), a two-day auction at Geneva’s prestigious Hotel President / Photo © Phillips - Joy Corthesy

Q&A: The Steel Patek Philippe Ref. 1518 Auction

  • What made the Patek Philippe Ref. 1518 so valuable? Its stainless steel rarity, historical significance, and pristine condition—only a few exist—elevated its desirability among collectors, driving the record-breaking price.
  • Where and when did the auction take place? The auction was held in November 2025 at Hotel President, Geneva, as part of Phillips’ Decade One (2015–2025) celebration.
  • How many bidders participated in the Patek Philippe Ref. 1518 sale? Five bidders competed intensely for nine minutes, with the final sale going to a phone bidder.
  • What was the total auction revenue for Decade One? The two-day sale achieved CHF 66,815,725 (about US$83,018,538), with every lot sold—a “white-glove” result.
  • Which other brands set records at the auction? F.P. Journe, Ferdinand Berthoud, and Rolex

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