82-Year-Old Patek Philippe Watch Sells for $17.6 Million
An 82-year-old Patek Philippe watch has shattered its own record to become the most expensive wristwatch ever sold at auction, with its stainless steel model fetching a far higher price than its gold counterparts.
The Record-Breaking Sale
The auction house Phillips reported that the historic timepiece sold this past weekend for 14,190,000 Swiss Francs ($17.6 million). This sum surpasses the 11 million Francs (over $11 million) it achieved when it was last sold nine years ago in 2016.
Rarity and Historical Significance
According to an AFP report, the watch was manufactured in 1943 and is a Patek Philippe Perpetual Calendar Reference 1518. While a total of 280 examples of this model were made, only four were crafted from stainless steel, with the rest made in gold.
This exceptional rarity is the driving force behind its record-breaking price. Stainless steel versions of such watches are in significantly higher demand among collectors than gold ones. The watch sold on Sunday was the first of the four stainless steel models ever to appear at auction.
A History of Record Prices
The previous world record for a wristwatch, set by this same watch in 2016, was first broken in 2017 by Hollywood star Paul Newman’s Rolex Daytona, which sold for $17.8 million. That record was later surpassed in 2019 by a Patek Philippe Grandmaster Chime, which sold for $31 million.
With this latest sale, the stainless steel Reference 1518 has firmly re-established its status as one of the most historically significant wristwatches ever made. The auction itself was a swift affair, reportedly taking just nine minutes with five bidders competing, before it was finally sold to a telephone bidder.
