New York, 10 April 2026 - Phillips in Association with Bacs & Russo has announced early highlights from The New York Watch Auction: XIV, led by an exceptional pink gold Patek Philippe reference 1518, universally regarded as one of the most sought-after vintage Patek Philippe wristwatches in existence and the world's first serially produced perpetual calendar chronograph. The example, fresh to the auction market and previously unknown to the public sphere, is offered in extraordinary, museum-quality condition and carries an estimate of $1,200,000 to $2,400,000. The announcement comes on the heels of Phillips' third 100%-sold watch auction of 2026, bringing the annual total to over $10 million in advance of all of the season's live auctions. The sale will take place on 13 to 14 June, with a public exhibition open 10 to 12 June at 432 Park Avenue.
Paul Boutros, Deputy Chairman and Head of Watches, Americas, and Isabella Proia, Head of Sale and Senior International Specialist, said, "Following a record-setting and truly market-defining year for Phillips Watches in 2025, we are seeing that momentum continue with remarkable strength. We have just concluded our third 100%-sold online watch auction of the year, bringing our sale total for 2026 to over $10 million globally, a remarkable feat achieved before any of our live sales have been held." They added that "collectors today are increasingly focused on watches that define categories and establish benchmarks, and few references embody that ideal as powerfully as the Patek Philippe reference 1518," a pink gold example they expect "will be immediately recognized as perhaps the best-preserved example to ever surface."
The star lot
The pink gold Patek Philippe reference 1518 from 1948 stands among the finest and most important examples of the reference ever to surface. Introduced in 1941 as the world's first serially produced perpetual calendar chronograph wristwatch, the 1518 represents a cornerstone of 20th-century horology and the foundation of Patek Philippe's most celebrated complicated chronographs, from the references 2499 and 3970 through to the modern 5270. Of the approximately 281 examples produced between 1941 and 1954, only around 58 are believed to have been cased in pink gold, making the present watch exceptionally rare. Distinguished by its untouched Vichet case with razor-sharp edges and full factory finishing, and an original dial with Portuguese calendar discs and a harmonious patina, it is quite possibly the best-preserved pink gold reference 1518 to have ever surfaced.
Highlights
The 1518 is joined by a deep roster of well-preserved highlights spanning modern independents and vintage icons. From the Geneva watchmaker Francois-Paul Journe comes an exceptionally rare F.P. Journe Tourbillon Souverain Anniversaire "Hong Kong," numbered 1 of just 5 examples produced to commemorate the anniversary of the brand's Hong Kong boutique. Cased in lightweight titanium with an 18K pink gold crown, hands, and deployant clasp, and powered by the landmark manual-wound caliber 1403 with constant force remontoire and deadbeat seconds, the watch is estimated at $600,000 to $1,200,000. The sale also features multiple, extremely well-preserved Rolex "Paul Newman" Daytonas, including a reference 6239 in 18K yellow gold with a virtually flawless champagne dial and a "Panda" reference 6263 in stainless steel. Together, these watches underscore the continued strength of the watch market in the Americas, particularly in New York, as well as sustained global demand for fresh-to-market, best-in-class timepieces with exceptional rarity and provenance.
The full slate of announced highlights, with their pre-sale estimates, is as follows.
Provenance of the season
Among the historically resonant offerings is the Tiffany & Co.-signed Patek Philippe owned by Paul Starrett, the visionary builder behind the Empire State Building. Produced in 1929 and sold by Tiffany & Co. in November 1930, the watch was acquired as Starrett oversaw the construction of what would become the world's tallest building. Fresh to the market and offered directly by his grandson, it is distinguished by an oversized rectangular case measuring 36.5mm by 26mm, Breguet numerals, and richly engraved floral scrollwork along the case band, with the initials "PS" on the caseback. A quintessential expression of the Art Deco period, it unites impeccable provenance, outstanding condition, and profound historical significance.
Phillips in Association with Bacs & Russo holds the world record for the most successful watch auction, with its DECADE ONE (2015 to 2025) sale having realized $83 million in 2025. The annual total for watch auctions in 2025 exceeded $290 million, marking the first time any auction house's Watches department has surpassed US$200 million in annual sales for five consecutive years. The house's record-breaking results include Paul Newman's own Rolex "Paul Newman" Daytona reference 6239, which realized CHF 17,709,894 (US$17,752,500) in New York on 26 October 2017, the highest result ever achieved for any vintage wristwatch at auction, and a Patek Philippe reference 1518 in stainless steel, which brought CHF 14,190,000 (US$17,631,075) on 8 November 2025, the highest result ever achieved for a vintage Patek Philippe wristwatch at auction. As Phillips marks its 230th anniversary in 2026, the house celebrates more than two centuries at the forefront of the global market for Modern & Contemporary Art, Design, and Luxury.
Estimates do not include the buyer's premium; prices achieved include the hammer price plus buyer's premium.
(Press Release)
