Patek Philippe’s Nautilus 5711 Skyrockets to $7.5 Million in Jaw-Dropping Charity Auction

Cementing its position as one of the most coveted timepieces, the Patek Philippe Nautilus 5711 has set a new world record by hammering at a staggering $7.5 million in an auction in Geneva. During the 30th anniversary celebration of the Children Action charity, a unique Nautilus 5711/1500A raised CHF 6.5 million (approximately $7.5 million). This sale further solidified the status of the 5711 as more than just a luxury watch—it is now a fundraising icon.

The 5711/1500A that was sold at the Children Action auction is unlike any other Nautilus 5711 ever produced. While the reference 5711 is known for its simple elegance, this one-off model is elaborately hand-engraved, drawing inspiration from the Māori culture of New Zealand. It is also the first-ever steel watch by Patek Philippe to feature an engraved case, a rarity for a brand that traditionally reserves such intricate detailing for its precious metal timepieces.

The 5711’s unique case is matched by its stunning dial, which begins as a dark grey shade in the center and gradually darkens to black as it reaches the bezel, creating a striking visual effect. The watch's value, however, is not merely derived from its physical attributes but also from its symbolic importance as the last steel-on-steel version of the iconic Gerald Genta-designed sports watch. This fact alone undoubtedly contributed to the intense bidding at the Children Action auction, where the piece achieved an eye-watering final price of $7.5 million.

Following its retirement in 2021, the Nautilus 5711, originally priced around $33,000, has achieved unprecedented auction results, becoming one of the most valuable and philanthropic timepieces ever sold. In late 2021, a steel-on-steel version of the 5711 sold for an astonishing $6.5 million at a charity auction held by Phillips in New York, with the proceeds benefiting The Nature Conservancy. This sale set the stage for what was to come. 

As impressive as the price tag is, it is important to remember that the funds raised from the sale will go towards supporting Children Action’s work. Since its founding in 1994, Children Action has been dedicated to providing children and adolescents with expert medical, psychiatric, and surgical care. The charity’s commitment to improving the lives of young people has resulted in the allocation of more than CHF 57 million towards its various projects over the past three decades.

With such significant sums raised for worthy causes, the Nautilus 5711 has become a symbol of philanthropy and a tangible means of making a difference. The auction results raise an intriguing question: will Patek Philippe ever bring this iconic model back into production, potentially for another charitable cause? Given the success of the 5711 at auction, it would not be surprising if another opportunity for a charitable initiative featuring this beloved reference arises in the future.