Patek Philippe’s Most Important Grand Complications in Steel
Steel and Grand Complications are a combination often found among Patek Philippe's most iconic watches, to understand why we have analyzed some of them
Patek Philippe has always had a rather special relationship with steel. What for everyone is the most obvious metal with which to make a watch, for the Geneva-based maison is the most important material with which it has created some of the most iconic watches in its history.
This is a choice adopted since the mid-20th century, making steel watches very rare indeed and helping to create a real myth around these timepieces, which is why when they appear at auction, especially if they are Grand Complications, the hammer prices are often astronomical.
In fact, the Grande Complications are in themselves among the most coveted Patek models at the collectors' level, if we then add to this a steel case, we find some of the most sought-after watches by all enthusiasts. In this article we have selected some of these models.
Perpetual Calendar Chronograph Ref. 1518
Let's start right away with a bang, talking about one of the most important, and above all rare, watches from Patek Philippe the legendary reference 1518.
To understand the importance of this model, however, it is necessary to go back more than eighty years, precisely to 1941, the year in which the maison launched the reference. This is an important step, because it is 1518 is the first wristwatch with perpetual calendar and chronograph.
From then on, thanks to this watch, the history of Patek Philippe and the history of watchmaking changed forever. This kind of complication has been a huge success, and over the years the house has produced many references, all of which are highly coveted collectibles.
In addition to the historical importance of this reference, another very important feature concerns the materials with which the case was produced. The 1518 was produced until the early 1950s, in three different materials: rose gold, yellow gold and steel. Of the 281 pieces produced, Patek made only four in steel. Obviously these pieces are highly coveted and are rarely sold at auction, the last time being in Geneva on November 12, 2016, where a 1518 in steel became the most expensive watch ever sold to the public with a price of CHF 11,002,000.
Minute Repeater Tourbillon Perpetual Calendar Ref. 5016A-010
Patek has made significant use of steel especially in the unique pieces made for Only Watch, there are 3 in all and we will analyze them all starting with this 5016A, made for the 2015 auction. This reference was produced by the maison between 1993 and 2011 and for a time was the most complicated watch ever produced by Patek, thanks to the presence of tourbillon, minute repeater and perpetual calendar with retrograde indication. Four years after it went out of production, the company decided to create this latest variant with a blue dial just for the famous charity auction.
Obviously, the auction price was extremely high at CHF 7,300,000, the highest of all the lots present. The result is even more important if we note that the total amount raised in the auction was CHF 11,000,000, so the 5016A contributed 66 percent to the final result.
Tourbillon Minute Repeater Ref. 3939HA-010
Actually the first of the three Grand Complications with steel case made for Only Watch was presented at the fourth edition of the charity event and it is this Tourbillon with Minute Repeater 3939HA-010.
In addition to these two important complications an important peculiarity of the watch is the size of the case which measures only 33 millimeters, quite unusual for a men's watch, especially in the case of a modern one.
As in the case of the 5016A-010, this reference also achieved great success during the auction being the most expensive model among the lots presented during the 2011 edition. To understand how much a large complication with a steel case is in demand it is enough to know that 3939 was sold for €1,400,000, which is +115% of its initial auction house estimate of €650,000.
Grandmaster Chime Ref. 6300A-010
The third, and last, steel grand complication watch to be auctioned at Only Watch 2019 was the Grandmaster Chime reference 6300A-010.
The Grandmaster Chime, was introduced by Patek in 2014 to commemorate its 175th anniversary and then entered the current collection in 2016 in a white gold version. It is Patek Philippe's most complicated wristwatch, with as many as 20 complications, including five sound functions. Thus we find a second time zone, day/night indicator, minute repeater, large and small chime, date and day of the week, leap year indication by hand, and other complications that would fill a few more lines.
We are looking at an object that has never been made within the history of wristwatchmaking, a masterpiece of manufacture and watchmaking with a truly incredible technical level, not surprisingly, Patek itself stated that it takes about 100,000 hours of work to make. The maison for normal production chose to use rose gold for the reference 5175R-001 released in 2014, and white gold for the 2016 and 2019 versions of the 6300. For this unique piece made for Only Watch Patek could have surprised with a precious material, perhaps by setting some diamonds, as we are used to seeing often with the latest releases from the various maisons, but instead decided to use steel, continuing the tradition that links this material to the brand's most iconic watches.
This watch was a stratospheric success, reaching a record CHF 31,000,000 at auction, becoming the most expensive watch in the world sold at auction, surpassing Paul Newman's Rolex Daytona (Ref. 6265) sold for 17.7 million at Phillips and the Patek Philippe Henry Graves Supercomplication (Ref. 198,385) sold for $24 million in 2014 at Sotheby's.
Ultra Thin Mono-Pusher Split-Seconds Ref. 5950A
Another great complication that we cannot exclude in this selection is the split-seconds chronograph, the fantastic example pictured has reference 5950.
Presented at Baselworld in 2010, this model has the characteristic of having a squarer case than the classic round shape, directly echoing some of the brand's vintage models. In addition to this, the use of steel and the presence of Breguet numerals on the dial has made this watch highly sought after. The most recent auction results for this reference are around €250k-350k, however, the price is subject to significant variability as so many conditions influence the award value.
Perpetual Calendar Split-Seconds Chronograph Ref. 5004
We conclude this selection of watches with another perpetual calendar, this time with a split seconds chronograph.
The ref. 5004 was in production between 1994 and 2012, and is the evolution of ref. 3970, the first Patek Philippe to switch from the historic Valjoux movement to the Lemania 2310, considered one of the best calibres in the world. The 5004 also uses the Lemania, but readjusting this movement to make the split-seconds function available entailed quite a few problems for Patek. In fact, because of the great technical difficulty required, the house produced about 12 models a year for a total of about 200 pieces. These were made in yellow gold, the most common, rose gold, platinum, and white gold, which is the rarest.
As is often the case when Patek decides to discontinue a successful reference, a special configuration was also presented in this case to celebrate the exit from the catalog. In this case, a 5004 with a steel case was produced in only 50 pieces that was sold only at the Geneva Salon.
The decision on the part of Patek Philippe to discontinue the 5711 in steel, replacing it with the 5811 reference in white gold is a rather clear message of the direction the house has taken. In all likelihood, steel will be used less and less for sports watches, limiting it only to large complications, especially when it comes to one-off pieces or special editions.
To think of such a choice would be paradoxical for any maison, except for Patek Philippe, whose steel watches are the pinnacle of what this brand represents, an understated and timeless appeal, in a nutshell: pure elegance.
