The Patek Philippe 1518 is the very first regular-production wristwatch to contain a perpetual calendar and chronograph at once, initiating a long-standing tradition of grand complications from Patek. First released in 1941 and ending production in 1954, it is estimated that only 281 were ever made. In other words, it’s not only important historically but also very rare.
But what really makes the 1518 such a revered piece of horology—a must-have for any high-end collector looking to stand at the top of that elite world—has as much to do with rarity and complication as with sheer beauty, elegance, and an uncannily adept informational hierarchy. The case is just 35 mm, and it still astounds some that so few brands currently make a truly complicated watch so small. The proportions of that case are classic and beautiful, but the dial is where we see what many would argue is the most perfect arrangement of information ever rendered in a wristwatch. It is legible yet classy, complicated but easy to derive information from, and genuinely iconic yet understated. And it was done long before CAD-assisted design software and modern fabrication techniques.
Today, the 1518 remains a holy grail, really the holy grail. In 2016, a stainless-steel 1518 hammered for $11,136,642 at Phillips. There appear to be only four examples rendered in stainless steel, while most are in yellow gold and pink gold. It’s hard to think of a watch that represents the golden era of Swiss wristwatches as well as the 1518, and its value—both monetary and in terms of affection—among the world’s elite collectors is unequivocally as high as it gets.
From the article by Allen Farmelo, Paige Reddinger, Victoria Gomelsky, Oren Hartov, Blake Buettner
