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Lot Essay
This endangered species strap is shown for display purposes only and is not for sale. The watch will be supplied with a calf leather strap.
Patek Philippe itself regards the 1518 as one of the models that represent the true custodians of their heritage, indeed reference 1518, showcased here by this stunning pink gold second series timepiece is hard to beat as one of the all-time classics.
Collectors and aficionados of exceptional wristwatches alike cannot but enthusiastically greet the public appearance of one of the ultra-rare pink gold examples of this landmark reference. Only 58 pieces were made in pink gold, the present watch is elevated further as one of the very few pieces made for Patek’s legendary Caracas agent Serpico Y Laino. As expected, the outside of the case back displays the stamps “S.L” and “18K”. Furthermore, this highly attractive example features the seldom seen Spanish version of the calendar for the months and days of the week, underlining that it was indeed one of the special pieces made for the South American market.
Preserved in generally very good overall condition, the case has never been subject to careless polishing, underlined by the full proportions and the crisp "S.L 18K" stamps to the case back. The hallmark to the outside of the upper right lug is incredibly sharp, the outline of the hallmark to the lower left side of the band is slightly erased but still visible. Furthermore, the case back is engraved with the period inscription: 'MPJ 5.1.34, 5.1.54'. The dial of the timepiece, lacking the Serpico Y Laino signature possibly due to a past restoration, correctly displays the movement number of the wristwatch confirming its originality.
Reference 1518
The earliest Patek Philippe perpetual calendar chronograph wristwatch serially produced (and, as a matter of fact, the first perpetual chronograph wristwatch serially produced by any manufacturer, ever), reference 1518 is also the rarest. In production from 1941 to 1954, the total output is a meagre 281 pieces. It is known in yellow and pink gold, as well few examples in steel. Its scarcity frustrated dozens of clients, as it was reserved for the most prominent Patek Philippe patrons such as Henry Graves Jr, the King of Jordan and the King of Egypt. The case design of the model underwent a subtle evolution over the years: the first examples featured the chronograph pushers to the centre of the band and the date correctors closer to the upper edge. Later, the pushers are found closer to the lower edge of the band, and the correctors are moved slightly down as well. Transitional models between the first and second case design present a thicker case body and thinner band, while later the case body is less prominent in favour of a more important bezel. Gold cases were made by Emile Vichet (case maker number 9, inscribed in a key as for all the Geneva based case makers), and pink gold cases are exceptionally rare: it is estimated that less than a quarter of the overall production was in pink gold.
Serpico y Laino
Serpico y Laino was founded in the late 1920s by two Italian immigrants, Leopoldo Serpico and Vicente Laino, a young goldsmith. Initially focusing on jewellery, they soon expanded into watches and became the exclusive distribution agent for Rolex in Venezuela following a meeting with Hans Wilsdorf in Geneva in the early 1930s. Shortly after other brands were added and the firm was appointed the sole authorized retailer for another famous watch manufacturer: Patek Philippe. In 1966, after forty years of flourishing business, the leading watch retailer in Caracas closed.
The reference 1518 is illustrated in: Patek Philippe Wristwatches, Martin Huber & Alan Banbery, first edition p. 231 pl. 386, second edition p. 303 pl. 459 and in: Armbanduhren - 100 Jahre Entwicklungsgeschichte, Kahlert, Mühe, Brunner, second edition p. 127. Other
Patek Philippe itself regards the 1518 as one of the models that represent the true custodians of their heritage, indeed reference 1518, showcased here by this stunning pink gold second series timepiece is hard to beat as one of the all-time classics.
Collectors and aficionados of exceptional wristwatches alike cannot but enthusiastically greet the public appearance of one of the ultra-rare pink gold examples of this landmark reference. Only 58 pieces were made in pink gold, the present watch is elevated further as one of the very few pieces made for Patek’s legendary Caracas agent Serpico Y Laino. As expected, the outside of the case back displays the stamps “S.L” and “18K”. Furthermore, this highly attractive example features the seldom seen Spanish version of the calendar for the months and days of the week, underlining that it was indeed one of the special pieces made for the South American market.
Preserved in generally very good overall condition, the case has never been subject to careless polishing, underlined by the full proportions and the crisp "S.L 18K" stamps to the case back. The hallmark to the outside of the upper right lug is incredibly sharp, the outline of the hallmark to the lower left side of the band is slightly erased but still visible. Furthermore, the case back is engraved with the period inscription: 'MPJ 5.1.34, 5.1.54'. The dial of the timepiece, lacking the Serpico Y Laino signature possibly due to a past restoration, correctly displays the movement number of the wristwatch confirming its originality.
Reference 1518
The earliest Patek Philippe perpetual calendar chronograph wristwatch serially produced (and, as a matter of fact, the first perpetual chronograph wristwatch serially produced by any manufacturer, ever), reference 1518 is also the rarest. In production from 1941 to 1954, the total output is a meagre 281 pieces. It is known in yellow and pink gold, as well few examples in steel. Its scarcity frustrated dozens of clients, as it was reserved for the most prominent Patek Philippe patrons such as Henry Graves Jr, the King of Jordan and the King of Egypt. The case design of the model underwent a subtle evolution over the years: the first examples featured the chronograph pushers to the centre of the band and the date correctors closer to the upper edge. Later, the pushers are found closer to the lower edge of the band, and the correctors are moved slightly down as well. Transitional models between the first and second case design present a thicker case body and thinner band, while later the case body is less prominent in favour of a more important bezel. Gold cases were made by Emile Vichet (case maker number 9, inscribed in a key as for all the Geneva based case makers), and pink gold cases are exceptionally rare: it is estimated that less than a quarter of the overall production was in pink gold.
Serpico y Laino
Serpico y Laino was founded in the late 1920s by two Italian immigrants, Leopoldo Serpico and Vicente Laino, a young goldsmith. Initially focusing on jewellery, they soon expanded into watches and became the exclusive distribution agent for Rolex in Venezuela following a meeting with Hans Wilsdorf in Geneva in the early 1930s. Shortly after other brands were added and the firm was appointed the sole authorized retailer for another famous watch manufacturer: Patek Philippe. In 1966, after forty years of flourishing business, the leading watch retailer in Caracas closed.
The reference 1518 is illustrated in: Patek Philippe Wristwatches, Martin Huber & Alan Banbery, first edition p. 231 pl. 386, second edition p. 303 pl. 459 and in: Armbanduhren - 100 Jahre Entwicklungsgeschichte, Kahlert, Mühe, Brunner, second edition p. 127. Other