1078Σ︎
Patek Philippe
Ref. 1518, First series MK III
A highly important, early, very fine and rare yellow gold perpetual calendar chronograph wristwatch with moon phases
Full-Cataloguing
- Previously owned by Austrian‑born Swiss industrialist Eugen Scotoni‑Gassmann (1873–1961)
- Very rare first‑series example with “MK III” dial
Among the three pillars prized by collectors — rarity, provenance and condition — the present Patek Philippe ref. 1518 stands as an undeniable legend. Widely regarded as the watch that launched the modern “holy grail” of wristwatches, the 1518 was the world’s first serially produced perpetual calendar chronograph, created by one of horology’s greatest powerhouses. Launched in 1941, its technical achievement remains remarkable more than eight decades later.
This particular ref. 1518 is exceptional: it was first owned by Austrian‑born Swiss industrialist Eugen Scotoni‑Gassmann (1873–1961). The caseback bears an original engraved dedication to Scotoni‑Gassmann dated 1943, an important historical testament to the watch’s illustrious original owner. A prominent figure in construction, real estate, and film—he was a project leader for Lausanne’s Bel‑Air Tower, Switzerland’s tallest building until 1961—Scotoni‑Gassmann is precisely the kind of wealthy, stylish client who would have commissioned one of Patek Philippe’s most exclusive complicated wristwatches even amid the pressures of World War II. The watch was reportedly a gift from his wife for his 70th birthday in celebration of his career successes.
The present yellow‑gold example is an extremely rare first‑series ref. 1518 and is notable for its early and seldom‑seen “MK III” dial. This highly sought-after variant features the pre‑1948 long signature “Patek Philippe & Co.” and larger fonts for the day and month apertures. The tachymeter scale is not framed by the twin thin lines seen on later dials, and the “Base 1000” inscription sits to the left of the 12 numeral. Early first series cases also show differences in construction: the chronograph pushers are positioned centrally in the band and the corrector sits close to the upper edge of the band, whereas later examples move these elements further down the caseband.
The 1518 cases were produced by Émile Vichet—one of Geneva’s finest master casemakers and bear his punch (the number 9 within a key). The dial was executed by Stern Frères with an engraved enamel signature, tachymeter and registers. Over its more than 80‑year history the case has been slightly polished and the dial carefully refinished: a high‑quality intervention that returns the watch toward its original manufacturing standards while preserving its appeal and wearability.
Originally offered by the family of the first owner in 2009, and again in 2023, this is now its third public appearance. With unmatched provenance, an outstanding early dial variant and excellent preservation, this ref. 1518 is a rare and historically significant gem that would be the crown jewel of any serious vintage collection.
Patek Philippe
Swiss | 1839Since its founding in 1839, this famous Geneva-based firm has been surprising its clientele with superbly crafted timepieces fitted with watchmaking's most prestigious complications. Traditional and conservative designs are found across Patek Philippe's watches made throughout their history — the utmost in understated elegance.
Well-known for the Graves Supercomplication — a highly complicated pocket watch that was the world’s most complicated watch for 50 years — this family-owned brand has earned a reputation of excellence around the world. Patek's complicated vintage watches hold the highest number of world records for results achieved at auction compared with any other brand. For collectors, key models include the reference 1518, the world's first serially produced perpetual calendar chronograph, and its successor, the reference 2499. Other famous models include perpetual calendars such as the ref. 1526, ref. 3448 and 3450, chronographs such as the reference 130, 530 and 1463, as well as reference 1436 and 1563 split seconds chronographs. Patek is also well-known for their classically styled, time-only "Calatrava" dress watches, and the "Nautilus," an iconic luxury sports watch first introduced in 1976 as the reference 3700 that is still in production today.