Steel Patek Philippe, potentially setting a record yet again, originated during World War II.
In the world of luxury watch collecting, the rare and valuable Patek Philippe 1518 in steel is about to make a comeback. This iconic timepiece, one of only four known examples, will be auctioned at Phillips in Geneva on the 8th and 9th of November.
The steel 1518, manufactured in 1943, is the most expensive vintage Patek sold at auction to date. It was last sold in November 2016 for over 11 million Swiss francs. This time around, it is estimated between 8 and 16 million Swiss francs, but the specific owner—whether a collection or private individual—is not publicly disclosed.
The steel 1518 holds the record for the most expensive watch ever sold at auction. However, it is not expected to break the record held by the modern Grandmaster Chime and the Henry Graves Supercomplication pocket watch for the most expensive watch ever sold.
Despite this, the steel 1518 remains extremely sought-after in the watch collecting community. Its rarity and value have placed it among the top-tier watches in the Patek Philippe 1518 collection.
The majority of the produced Patek Philippe 1518 watches are in yellow or pink gold. The steel 1518's scarcity sets it apart, making it one of the rarest and most valuable watches in the collection.
The auction of the steel 1518 could potentially result in an all-Patek podium for the most expensive watches ever sold at auction, surpassing the price of the Rolex Daytona owned by Paul Newman, which sold for US$17.8 million.
While the steel 1518 is expected to smash auction records, it may not reach the same heights as the Patek Philippe 1518 that holds the record for the most expensive watch ever sold at auction. Regardless, the upcoming auction promises to be an exciting event for watch enthusiasts worldwide.
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