Rare Stainless Steel Patek Philippe Ref. 1518 to Be Auctioned by Phillips

Phillips in Association with Bacs & Russo will present one of the most important wristwatches ever made: a stainless steel Patek Philippe reference 1518.

First introduced in 1941, the reference 1518 was the world’s first perpetual calendar chronograph wristwatch. Most examples came in yellow or pink gold. Collectors know of only four in stainless steel, which makes this piece exceptionally rare.

Historic Provenance

This watch stands apart because the digit “1” sits beneath its case number. That mark confirms it as the first stainless steel 1518 ever made. Patek Philippe manufactured it in 1943 and sold it in February 1944 through Budapest retailer Joseph Lang.

The watch carries a 35mm stainless steel case by Georges Croisier and a dial by Stern Frères. It bears case number 508473 and movement number 863193. Patek Philippe’s Extract from the Archives verifies these details.

Record-Breaking History

This exact watch appeared on the market in November 2016. During the Phillips Geneva Watch Auction: FOUR, it achieved 11 million Swiss Francs. That result set a record as the most expensive wristwatch ever sold at auction. It also became the first wristwatch to cross the eight-figure mark.

Today, it still holds the title of the most expensive vintage Patek Philippe wristwatch ever sold at auction.

Returning to Auction

Phillips will offer the stainless steel reference 1518 again this November during the Decade One (2015–2025) Auction.The estimate stands at CHF 8,000,000 to 16,000,000 Swiss Francs.

Collectors now have another opportunity to secure a watch that blends rarity, history, and record-breaking pedigree.

Why It Matters

First stainless steel 1518 ever produced
One of only four known in steel
Preserved in exceptional condition
Record holder as the most expensive vintage Patek Philippe at auction

This watch does more than tell time. It represents a landmark in horological innovation and ranks among the most coveted timepieces in existence. If Patek Philippe released a modern interpretation of this watch today, it would instantly rank among the brand’s most sought-after models — proof that true design remains timeless!