Sotheby’s New York To Sell $4.5-Million Patek Philippe Ref. 1518, At It’s June 9 Sale

Sotheby’s is auctioning one of the world’s most sought-after watches on June 9 in New York: a rare Patek Philippe ref. 1518 in pink gold, one of on 58 ever made in that color. The ref. 1518 is Patek’s iconic, first series-made perpetual calendar chronograph, it’s signature complication. This reference is what’s known as a “pink on pink” a rare 18k pink gold model with a pink dial, one of 15 known to have been made – only 10 of which have ever been offered for auction.

What makes it rarer still is that it is one of only seven of those pink-on-pink examples to have what collectors refer to as the “long signature” (Patek Philippe & Co, as opposed to Patek Philippe). Around 1948, Patek Philippe shortened the dial signature on all of its watches. This reference was made in 1946, so it bears the longer signature. Another factor that constitutes its rarity, and part of the minutiae that collectors love is that the watch is one of only three long-signature, pink-on-pink ref. 1518s to have a French calendar wheel.

All of these qualities put together make this watch pretty much the holy grail of timepieces for serious collectors. The watch, estimated to sell for between $2.5-million and $4.5-million, has been in the possession of a single owner since its original purchase in 1947. It is in superb condition, with all four lugs retaining their original proportions. The dial, made by famous dial maker of the era, Stern Frères, shows normal signs of patina and aging. It features a starry moon phase indicator and pink gold applied hour markers. The case was made by Emile Vichet, a maker who hand crafted all of Patek Philippe’s gold ref. 1518 cases. Vichet’s cases were divided into two series, with this watch belonging to the second series produced between 1946 and 1953.