Yesterday in our New York salesroom, this exceptionally rare Patek Philippe ‘pink on pink’ reference 1518 soared to $9.6 million in its world auction debut – more than four times its $2.2 million high estimate – and set a world record for a wristwatch sold at Sotheby’s, a record for the highest price for any watch sold at auction this year, and the third highest price achieved for a vintage wristwatch at auction.
Made in 1948 and 1 of only 14 examples known to exist, it is on offer from the estate of its original owner, Prince Tewfik Tousson of Egypt, having been recently discovered in a safety deposit box in exemplary condition.
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