The Patek Philippe 1518 is the first perpetual calendar chronograph wristwatch made in series by any manufacturer: a 35 mm hand-wound watch introduced in 1941 and produced until about 1954, with day and month in apertures under 12, a pointer date and moon phase at 6, a 30-minute counter and running seconds, and a tachymeter scale on the outer track. Roughly 281 were made, the great majority in yellow gold, a smaller number in pink gold and four in stainless steel, one of which became the first wristwatch to sell for more than CHF 10 million at auction. This guide covers the specifications, the movement, the dial and case variants, the line of successors from the 2499 to today's 5270, what the 1518 sells for and what to check before buying a watch that is now 70 to 85 years old. Bizak & Co. sources vintage Patek Philippe to order and can search for a 1518 on request; the Grand Complications collection lists the modern descendants we can seek.
Last reviewed on September 21, 2026 by Filip Biczak. Prices are dated observations, not quotes.
Patek Philippe 1518 specifications
| Attribute | 1518 |
|---|---|
| Case | 35 mm, yellow gold for most examples, pink gold for a minority, stainless steel for four known; snap back, rectangular pushers, straight lugs |
| Movement | Calibre 13-130 Q, hand-wound, based on a Valjoux 13-ligne chronograph ebauche finished by Patek and fitted with Patek's perpetual calendar mechanism; column wheel, horizontal clutch |
| Functions | Hours, minutes, small seconds at 9, 30-minute chronograph counter at 3, day and month in twin apertures below 12, pointer date with moon phase at 6 |
| Dial | Silvered, made by Stern Freres; applied gold Arabic or baton markers; tachymeter scale on most examples; a small number with other scales or in unusual configurations |
| Production | About 1941 to 1954; roughly 281 examples |
| Successors | 2499 (1951 to 1985), 3970 (1986 to 2004), 5970 (2004 to 2011), 5270 (2011 to date) |
Sources: Patek Philippe's Extract from the Archives service, which confirms a 1518's original case metal, dial and date of sale, and the watch departments of Phillips and Christie's, whose catalogues document the reference's sale history.
Why does the 1518 matter?
Before 1941, a perpetual calendar chronograph was a one-off commission: a watch built for a client who asked for it. The 1518 was the first time a manufacturer put the combination into a catalogued reference and built it in series, and Patek did it in the middle of a war, in a case size that reads as small today but was generous for its time. Every perpetual calendar chronograph that followed, from Patek's own 2499 to today's 5270 and the perpetual chronographs of other houses, descends from the layout the 1518 established: calendar apertures at the top, moon and date at the bottom, chronograph registers left and right. It is the reason the reference is treated as a foundation stone of collecting rather than one vintage Patek among many.
What movement is in the 1518?
The calibre 13-130 Q is a hand-wound chronograph built on a Valjoux 13-ligne ebauche that Patek reworked, finished and fitted with its own perpetual calendar under the dial. The chronograph uses a column wheel and a horizontal clutch, and the calendar mechanically accounts for the lengths of the months and for leap years, so that in principle it needs no correction until 2100. In practice a 1518 that has stopped needs its calendar advanced through the correctors in the case band, and a watch of this age should be serviced by a specialist who has handled the calibre before. The 13-130 Q was replaced in the 2499 by a closely related calibre, and Patek continued to base its perpetual chronographs on Valjoux and later Lemania ebauches until the in-house CH 29-535 PS Q arrived in the 5270 in 2011.
Yellow gold, pink gold or steel: the 1518 variants
| Case metal | Approximate share of production | What to know |
|---|---|---|
| Yellow gold | The large majority | The standard 1518; condition, dial originality and provenance separate ordinary examples from exceptional ones |
| Pink gold | A minority, a few dozen | Usually with a pink or silvered dial; commands a premium over yellow gold |
| Stainless steel | Four known | One sold at Phillips Geneva in November 2016 for CHF 11,002,000, the first wristwatch past CHF 10 million; the others are in private hands |
Within each metal, dials vary in the style of numerals, the presence and layout of the tachymeter scale, and the language of the day and month discs; some 1518s carry retailer signatures. Each of these details affects value, and each is a place where later replacements or restorations can hide, which is why the archive extract matters.
1518 vs 2499 vs 5270: how the line evolved
| 1518 | 2499 | 5270 | |
|---|---|---|---|
| Years | 1941 to 1954 | 1951 to 1985, in four series | 2011 to date |
| Case | 35 mm, straight lugs, rectangular pushers | 37.5 mm, the first series with rectangular pushers, later round pushers | 41 mm, in gold or platinum |
| Movement | 13-130 Q, Valjoux-based | 13-130 Q, Valjoux-based | CH 29-535 PS Q, in-house |
| Production | About 281 | About 349 | Current, unlimited |
| Bizak catalogue, 21 Sep 2026 | Ask for a search | Ask for a search | US$111,599 pre-owned 5270G-014 to US$193,639 new 5270P-001 |
The 2499 is the larger, more available vintage alternative and overlaps the 1518 in production; the first-series 2499 with rectangular pushers is the closest in feel. The 3970 and 5970 of 1986 to 2011 are the neo-vintage route, and the 5270 is the same idea built with a Patek movement, a display back and a five-year warranty. Someone who wants the design without the risk of an 85-year-old watch is well served by a 5270.
How much is a Patek Philippe 1518? Auction and dealer prices in 2026
- Auction record. The steel 1518 sold by Phillips in Geneva in November 2016 for CHF 11,002,000 remains the reference point for the model, but it reflects a unique metal rather than the market for gold examples.
- Gold examples. In recent auction seasons, yellow gold 1518s in honest condition with correct dials have generally sold in the high six figures in US dollars, with exceptional examples, pink gold cases and important provenance carrying them into seven figures. The spread between an ordinary and an exceptional example is wider on this reference than on almost any other Patek.
- Dealer market. A 1518 rarely appears in a dealer's window; most trade privately or at auction, and a search can take months. We quote on a named example with an archive extract, condition report and provenance, never from a price list.
- Modern descendants. On 21 September 2026 our sourced catalogue listed the 5270P-001 at US$193,639, the 5270/1R-001 on bracelet at US$183,005, the 5270P-014 green at US$180,250 and a pre-owned 5270G-014 at US$111,599, all sourced to order.
Those figures describe what we saw and will move. Ask for a dated quote; our Patek Philippe price guide explains how to compare quotes across references.
Is the 1518 a good investment?
It has been one of the strongest long-term performers in watch collecting, because supply is fixed at roughly 281 pieces, some of which are in museums or permanent collections, and demand comes from the top of the market. That does not make every 1518 a good buy. Value sits in originality: a watch with its original dial, unpolished case and matching archive extract can be worth a multiple of a restored example with a replaced dial. Buy the best example you can verify rather than the cheapest you can find; if resale matters, ask for a written assessment before you commit.
Buying a 1518: what to check
- Extract from the Archives. Obtain it or see it before money changes hands. It should confirm the movement and case numbers, the case metal, the dial type and the date of sale; any mismatch is a reason to walk away.
- Dial originality. Under magnification the printing should be crisp and the surface should age evenly; a dial that looks too new for the case has usually been refinished, which cuts value sharply. Compare the numeral style and scale layout with published examples.
- Case condition. The lugs should retain their original profile and the hallmarks inside the case back and on the lugs should be legible; soft, rounded edges mean polishing. Confirm that case, back and pushers carry consistent numbers.
- Movement. Ask for the last service record and for photographs of the calibre; the bridges should be correctly finished and signed and the calendar should advance cleanly through each corrector.
- Hands and discs. Day and month discs should match the language and style recorded for the watch; replaced hands are common and should be disclosed.
- Provenance. Auction history, previous owners and any published appearances add value and reduce risk; a 1518 with no traceable history warrants extra scrutiny.
- Price against the band. A 1518 offered well under the market is the single most reliable warning sign.
Our authentication process describes what we inspect before dispatch, and our vintage Patek Philippe authentication guide goes deeper on archive extracts, dials and cases.
Quick answers
How much is a Patek Philippe 1518?
Gold examples have generally sold in the high six figures in US dollars at the major auction houses in recent seasons, with pink gold and exceptional provenance reaching seven figures. The steel 1518 sold by Phillips in November 2016 for CHF 11,002,000 is the record. Bizak quotes on a named example only.
How many Patek Philippe 1518 were made?
About 281, produced from 1941 to around 1954, mostly in yellow gold with a smaller number in pink gold and four in stainless steel.
What was the first perpetual calendar chronograph wristwatch?
The Patek Philippe 1518, introduced in 1941, was the first perpetual calendar chronograph wristwatch produced in series rather than as a one-off commission.
What movement does the 1518 use?
The hand-wound calibre 13-130 Q, a Valjoux-based chronograph ebauche finished by Patek and fitted with Patek's perpetual calendar mechanism.
What replaced the Patek Philippe 1518?
The 2499, produced from 1951 to 1985 in about 349 examples, followed by the 3970, the 5970 and the current 5270 with Patek's in-house calibre CH 29-535 PS Q.
Request a Patek Philippe 1518 or 5270 sourcing quote
Tell us the reference, preferred metal, condition and provenance requirements, plus your budget and timing, through our sourcing enquiry form. For a 1518 we search privately and at auction and confirm the specific watch, photographs, archive extract and final price before you commit. Modern catalogue entries: 5270P-001 platinum, 5270/1R-001 rose gold on bracelet, pre-owned 5270G-014; browse the Grand Complications collection, the Patek Philippe collection, or sell or trade your Patek Philippe.
Related reading: Vintage Patek Philippe authentication guide · Patek Philippe price guide · Rolex Daytona 116500LN guide · How to sell a watch at auction or to a dealer.
0 comments