Geneva, Switzerland – A Patek Philippe Perpetual Calendar Chronograph, Reference 1518, shattered auction records today, selling for 14.2 million Swiss francs (744 million TL) in Geneva. Teh sale marks the highest price ever paid for a wristwatch at auction, surpassing its own previous record and cementing its status as a horological icon.
The 1943 timepiece’s unusual value stems from its rarity – only four examples of the Reference 1518 are known to exist with steel cases. Patek Philippe typically crafts its watches with gold, making the steel version a unique and highly sought-after collectible. This auction’s success underscores the escalating demand for rare and historically significant watches, especially among discerning collectors and investors.
Phillips auction house conducted the nine-and-a-half-minute sale, which drew competition from five steadfast bidders. The Reference 1518 is historically significant as the first mass-produced perpetual calendar chronograph.
The previous auction record for this model was set in 2016, when it sold for 11 million Swiss francs (576 million TL). Today’s result represents a substantial increase in value over the past nine years.
The entire auction generated a total revenue of 66.8 million Swiss francs (3.5 billion TL), establishing a new benchmark for watch auctions.
Source: Newspaper Oxygen
