Our final live auction of the spring 2025 season, the New York Watch Auction: XII, takes place on 7-8 June, at our Manhattan headquarters. The auction includes 140 of the world's finest watches – and though we are loath to boast, we truly think it’s one of the best catalogues we've ever put together. We'll highlight several of the most interesting lots and stories featured in the sale over the next few weeks, including the watch highlighted in this article.
– By Logan Baker
Patek Philippe’s reference 1506 is one of those watches that even seasoned collectors struggle to recall.
If you’ve heard of it, chances are you haven’t seen one in the metal. And if you’ve seen one, you’re in the extreme minority. That’s because the ref. 1506 is one of the rarest chronograph references Patek Philippe has ever produced. With just six known examples — three in yellow gold; three in pink gold — this reference is as elusive as it is captivating.
The ref. 1506 dates to the early 1940s, a period when Patek Philippe was defining itself as a master of chronograph design. The reference 130 was already a mainstay, and the ref. 530 and ref. 533 had just entered the lineup. But the ref. 1506 stood apart. At 36mm, it was larger than most chronographs of its time, and its case architecture is what sets it apart. The lugs are elongated, faceted, and extend nearly 10mm from the case. They fan outward before tapering down, with multiple facets on top — a design unlike any other Patek Philippe chronograph of the era.
Those lugs are the defining feature. They lend the ref. 1506 a bold, almost architectural presence on the wrist, and their multi-faceted surfaces catch the light in a way that accentuates the watch’s overall dynamism. The stepped bezel mirrors the lugs, creating a cohesive design language that’s rare even among Patek Philippe’s most lauded references.
Preservation is paramount when it comes to a watch this rare, and the 18k yellow gold example included in the upcoming Phillips New York Watch Auction: XII delivers in spades. The case retains sharp edges throughout, with a hallmark still visible at the tip of one lug and a partial, crisp hallmark along the caseband.
Under the hood, the ref. 1506 houses the manual-wind Valjoux 13-ligne calibre, a movement that served as the backbone for several of Patek Philippe’s most iconic chronographs, including the 130, 530, and even the groundbreaking 1518 (with the addition of a perpetual calendar). It’s a robust, reliable calibre, one that collectors know well and trust implicitly.
The movement number 862’603 and case number 623’876 are documented in the Patek Philippe Extract from the Archives, confirming the watch’s production in 1941.
When it comes to dial design, the 1506 doesn’t disappoint. This example features a silvered dial with a long signature, complete with both the comma and accent intact. It’s a masterclass in 1940s Patek Philippe dial architecture — understated yet inherently luxurious.
In terms of provenance, this ref. 1506 has recently been part of one of the most important private collections of vintage Patek Philippe watches in the United States. The collector acquired it nearly two decades ago and has kept it away from the public eye ever since. Its reappearance this season is a significant event for serious collectors — the first time in a decade that a ref. 1506 is available at auction.
Phillips previously sold a pink-on-pink example at the Geneva Watch Auction: ONE, in May 2015, for CHF 725,000.
Due to its rarity, the ref. 1506 hasn’t commanded the same public attention as other vintage Patek chronographs, such as the 130, 1463, or the 1579. This is a watch that has flown under the radar for far too long, its relative obscurity only adding to its mystique. With its multi-faceted lugs, impeccable preservation, and historical significance, the ref. 1506 stands as one of the most compelling chronograph references in Patek Philippe history.
You can view the complete Phillips New York Watch Auction: XII catalogue here.