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Patek Philippe Watch Sells for $11M — a World Record

It was made in 1943.

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A Patek Philippe Reference 1518 in stainless steel has sold for $11 million, a world record price for any wristwatch at auction.

The purchase was made at Geneva Watch Auction: FOUR, which ran Nov. 12-13. A total of 177 watches were sold for a total of about $27.8 million, according to watch auction house Phillips in Association with Bacs & Russo.

The rare Patek Philippe watch “captivated the saleroom and ignited a bidding war of 13 minutes,” according to Phillips. It’s a perpetual calendar chronograph watch with moon phase that was made in 1943.

“Its world record result is a strong testimony that the watch market is universally accepted as an important pillar of the international art collector community, and that Phillips’ strategy focusing on watches of the finest quality is the winning formula,” said Aurel Bacs, senior consultant with Phillips.


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Orin Mazzoni, Jr., the owner of Orin Jewelers in Garden City and Northville, Michigan, decided it was time to downsize. With two locations and an eye on the future, Mazzoni asked Wilkerson to take the lead on closing the Garden City store. Mazzoni met Wilkerson’s Rick Hayes some years back, he says, and once he made up his mind to consolidate, he and Hayes “set up a timeline” for the sale. Despite the pandemic, Mazzoni says the everything went smoothly. “Many days, we had lines of people waiting to get in,” he says, adding that Wilkerson’s professionalism made it all worthwhile. “Whenever you do an event like this, you think, ‘I’ve been doing this my whole life. Do I really need to pay someone to do it for me?’ But then I realized, these guys are the pros and we need to move forward with them.”

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