Patek Philippe

• cal. 13''' nickel lever movement, 23 jewels • silvered dial, applied yellow gold Arabic numerals, yellow gold hands, 3 subsidiary dials for constant seconds, 30-minute register, and date combined with moon phases, twin apertures for day and month in English, outer ring tachometer scale calibrated for 60 units • 18k yellow gold case, two rectangular chronograph buttons, solid snap on case back • case, dial and movement signed • with a detachable 1968 Patek Philippe and Gay Frères woven bracelet 

Movement running at time of cataloging, however not tested for the accuracy of time and may need service at the buyer's discretion. Calendar functions correctly. Chronograph functions, resets at 1 second (as opposed to 60). The case in very good, unpolished but worn condition. Hallmarks are crisp and visible. Lugs are substantial and buttons lightly worn. Overall the case is untouched in regards to servicing, however does have light scratches and scuffs overall. Dial in very good condition, some patina to the edges, light spots at 11, 4 and 8 o'clock, some scratches to the subsidiary seconds and moonphase/date, hands and moonphase with patina. The dial was cleaned, and possibly re-surfaced once at some point in its life. The original bracelet in overall good condition and tight.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. All dimensions in catalogue descriptions are approximate. Condition reports may not specify mechanical replacements or imperfections to the movement, case, dial, pendulum, separate base(s) or dome. Watches in water-resistant cases have been opened to examine movements but no warranties are made that the watches are currently water-resistant. Please note that we do not guarantee the authenticity of any individual component parts, such as wheels, hands, crowns, crystals, screws, bracelets and leather bands, since subsequent repairs and restoration work may have resulted in the replacement of original parts. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue. In particular, please note it is the purchaser's responsibility to comply with any applicable import and export matters, particularly in relation to lots incorporating materials from endangered species.NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

**Please be advised that bands made of materials derived from endangered or otherwise protected species (i.e. alligator and crocodile) are not sold with the watches and are for display purposes only. We reserve the right to remove these bands prior to shipping.

Important Notice regarding importation into the United States of Rolex watches
Sotheby's cannot arrange for the delivery of Rolex watches to the United States because U.S. laws restricts the import of Rolex watches. The buyer or a designated agent may collect the property in the country of sale."

Accompanied by an Extract from the Archives confirming date of sale on July 5, 1951.

The present lot, being offered for the first time at auction on behalf of a descendant of the original owner, is striking for its excellent overall condition. The Ref. 1518 is a well-known and much beloved icon of vintage complicated wristwatches, however it is infrequent that one sees an example with such a well-preserved case shape, with substantial, fully retained lug width, and with a crisply retained gold mark at the profile at 10 o'clock. 

The Ref. 1518 played a critical role in the development of Patek Philippe's complicated wristwatches. Together with Ref. 1526, it was the first perpetual calendar wristwatch ever produced by the company in series. It is recognized that the introduction of Ref. 1518 greatly contributed to the manufacturer's dominant position in the Swiss watchmaking industry. Indeed, perpetual calendar wristwatches produced in series were almost exclusively a Patek Philippe commodity for four decades (other manufacturers tending not to list or distribute the complication other than for special orders).

The influence of the Ref. 1518 can be seen in all the series-produced Patek Philippe perpetual calendar chronographs that came after it (Refs. 2499, 3970, 5020, 5970, 5270). Even though the case design changed in the references that followed, the basic dial layout remained the same. Similarly, the functions of the movement have not changed in 70 years.

From 1941 to 1954, a total of 281 Ref. 1518 wristwatches were made, an incredibly small production run by today's standards, with an average of just 20 watches per year.