In brief
- A 1945 steel Patek Philippe Ref. 1436 is lot 95 at Phillips' Geneva Watch Auction XXIV on 7-8 November 2026.
- Phillips estimates it at CHF 2-4 million, the highest estimate in the sale.
- Only two steel Ref. 1436 watches are known with original cases and dials, according to Phillips.
- A steel Ref. 1436 made in 1945 sold at Phillips for CHF 3.3 million in November 2015.
- The sale has more than 220 watches, including F.P. Journe and Rolex lots estimated above CHF 1 million.
A steel Patek Philippe Ref. 1436 split-seconds chronograph from 1945 is the top lot at Phillips’ Geneva Watch Auction XXIV, which runs on 7 and 8 November 2026 at the Hotel President in Geneva. Phillips has given it an estimate of CHF 2-4 million, and it is the most valuable watch in a sale of more than 220 pieces held with Bacs & Russo.
The watch at a glance
| Detail | Information |
|---|---|
| Model | Patek Philippe Ref. 1436 split-seconds chronograph |
| Case | Stainless steel |
| Made | 1945, sold in 1949 (per Patek Philippe archive extract) |
| Lot | 95 |
| Estimate | CHF 2,000,000-4,000,000 (upper end about $4.9 million) |
| Sale | Phillips Geneva Watch Auction XXIV, 7-8 November 2026 |
Why a steel Ref. 1436 matters
The Ref. 1436 was Patek Philippe’s split-seconds chronograph wristwatch, introduced in 1938 and made over roughly three decades. A split-seconds, or rattrapante, chronograph has two seconds hands so the wearer can time two events at once, which makes it one of the harder complications to build.
Most examples were cased in yellow gold, with a small number in pink gold. Steel is what drives the estimate here. Phillips says only two steel Ref. 1436 watches are currently known to keep both their original steel cases and their original dials, and each has a different configuration.
Also readPatek Philippe 2499 Record: $10.3 Million Pink Gold SaleThe watch on offer has a silvered dial with a tachymeter scale. An Extract from the Archives issued by Patek Philippe confirms it was made in 1945 and sold in 1949.
A record to beat from 2015
Phillips has sold a steel Ref. 1436 before. In November 2015, at its Geneva Watch Auction Two, a steel example made in 1945 and first sold in the US in 1949 realised CHF 3.3 million against an estimate of CHF 1.5-3 million. That watch had last been sold at Antiquorum in 2009 for CHF 1.25 million.
The production and sale years match the watch now on offer, but Phillips’ announcement does not say whether it is the same piece. Either way, the 2015 result gives bidders a reference point, and the new estimate brackets it.
Other big lots in the same sale
The Patek is not the only seven-figure watch in the catalogue. Phillips’ other leading estimates include:
- F.P. Journe Chronomètre à Résonance “Régence”: CHF 1-2 million
- Rolex Ref. 6241 “John Player Special” Daytona: CHF 800,000-1,600,000
- Rolex Ref. 6062 “Stelline” triple calendar moonphase: CHF 600,000-1,200,000
- F.P. Journe Chronomètre à Résonance made for the Tokyo boutique: CHF 400,000-800,000
- Patek Philippe World Time Ref. 605HU: CHF 300,000-600,000
The weekend is the busiest of the year for watch auctions in Geneva. Sotheby’s holds its Important Watches sale on 8 and 9 November, and Christie’s follows with its Rare Watches sale on 9 November, before Phillips moves on to Hong Kong on 21 and 22 November.
Vintage Patek Philippe has dominated the top of the market for years. We covered the recent Patek Philippe 2499 record of $10.3 million, and our list of the most expensive watches in the world shows how far the very best examples can go.
Sources: Phillips, Haute Time (November 2026 calendar), Rapaport, Monochrome Watches, Haute Time (Ref. 1436)
Frequently asked questions
What is the Patek Philippe Ref. 1436?
It is Patek Philippe's split-seconds chronograph wristwatch, introduced in 1938. Most were made in yellow gold, which makes steel examples very rare.
How much is the steel Patek Philippe 1436 expected to sell for?
Phillips estimates it at CHF 2-4 million. The upper end is about $4.9 million.
When is the Phillips Geneva Watch Auction XXIV?
It takes place on 7 and 8 November 2026 at the Hotel President in Geneva, with more than 220 watches on offer.
Has a steel Patek Philippe 1436 sold at auction before?
Yes. In November 2015 Phillips sold a 1945 steel Ref. 1436 for CHF 3.3 million at its Geneva Watch Auction Two.
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