The Patek Philippe 1518 in Stainless Steel

This Patek Philippe Is the Most Expensive Watch Ever Sold at Auction

November 14, 2016 Watches By Photo by Phillips

This weekend, auction house Phillips sold a vintage Patek Philippe 1518 for an astounding $11,136,642 (including fees), making it the most expensive wristwatch sold at auction, ever, according to Hodinkee. The previous record was also a Patek Philippe, a one-of-a-kind stainless steel perpetual calendar with a minute repeater and a tourbillon that sold for $7.38 million last year.

So what makes this 1518 worthy of an eight-figure price tag? Made in 1941, the Patek Philippe 1518 was the very first watch to combine a perpetual calendar and a chronograph function in one watch. Furthermore, with a stainless steel case, this particular example is the rarest of an already rare timepiece. Only 281 1518s were ever made, the majority of which were yellow gold and rose gold — but Patek only ever made four 1581s in steel.

Further Reading
How a Calendar Watch Works
5 Iconic Chronographs
How to Care for a Vintage Watch

Andrew Connor

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