A Holy Grail for Collectors: This Vintage Patek Philippe May Be The Most Expensive Watch Ever Sold
POISED TO BE AUCTIONED BY MONACO LEGENDS GROUP FOR USD 20 MILLION in a private treaty
AUCTION NEWS | 450 WORDS| 4 MIN READ
In the world of horology, certain timepieces transcend mere function and become icons, representing the pinnacle of craftsmanship and historical significance. One such grail is the Patek Philippe Perpetual Calendar Chronograph Ref. 1518 in stainless steel, and Monaco Legend Group has just announced a historic opportunity to acquire one of only four known examples.
An Unparalleled Pedigree
This particular 1518, manufactured in 1943, stands apart even among its rare brethren. Its Extract from the Archives, dated July 29, 1946, confirms that it is the only one of the four originally sold on a steel bracelet. This detail, combined with its remarkable state of preservation and meticulously documented provenance, elevates it to a truly exceptional piece.
A Watch That Made History
The watch's public debut occurred on November 12, 1989, at the legendary Orion auction in Monaco. Lot 166 was described as, "This stainless-steel piece is the only such example ever shown at an international auction." This statement marked a watershed moment, as it was the first time a steel 1518 had ever surfaced publicly. (Image: Orion 1989 Auction Catalogue - Front Cover)
Image Courtesy: Monaco Legends Group - Orion 1989 Auction Catalogue - Front Cover
Image Courtesy: Monaco Legends Group - Orion 1989 Auction Catalogue - Lot 166 page
A Journey Through Legendary Hands
The 1518's journey through the hands of prominent collectors is as captivating as the watch itself. It was consigned to the Orion auction by Gerolamo Etro, founder of the renowned luxury fashion house. Following the sale, it was acquired by Swiss collector Ernst Schuster, a known enthusiast of both Ferraris and watches.
Image Courtesy: Monaco Legends Group - Portrait of Gerolamo Etro
Image Courtesy: Monaco Legends Group - Ernst Schuster on the passenger seat of his 1957 Ferrari 500 TR
In 1995, it reappeared at Antiquorum's Geneva sale, featured on the catalogue's back cover alongside other significant Patek Philippe timepieces. Helmut Crott, a respected watch dealer and Patek Philippe collector, acquired it at this sale.
Image Courtesy: Monaco Legends Group - Antiquorum 1995 Auction Catalogue - Front and Back Cover
Image Courtesy: Monaco Legends Group - Antiquorum 1995 Auction Catalogue - Lot 914 page
In 2004, Davide Parmegiani, now offering the watch through Monaco Legend Group, owned the piece and featured it in his book, The Collection (2005). Its prominence was further cemented in John Goldberger's 2010 book, Patek Philippe Steel Watches. Shortly thereafter, its current owner acquired it and has carefully preserved it for the past 15 years.
Image Courtesy: Monaco Legends Group - "The Collection" book by Davide Parmegiani - 2005
Image Courtesy: Monaco Legends Group - The present watch together with another 1518 in Pink Gold from “The Collection” by Davide Parmegiani - 2005
An Opportunity Like No Other
The last time a Patek Philippe 1518 in steel appeared at auction was in 2016, where it achieved a record-breaking price of over $11.5 million in Geneva. Now, after years out of the public eye, this extraordinary timepiece is available for Private Sale through Monaco Legend Group. This represents a truly unique opportunity for collectors to acquire a piece of horological history.
Image Courtesy: Monaco Legends Group - “Patek Philippe Steel Watches” book by John Goldberger - 2010
Image Courtesy: Monaco Legends Group - The present watch from “Patek Philippe Steel Watches” by John Goldberger - 2010
Image Courtesy: Monaco Legends Group
For further information, please visit monacolegendauctions.com