The 5711/1A-018 Tiffany Blue was already collector myth before it hit secondary. Patek had announced the discontinuation of steel Nautilus in 2021, then released 170 examples in Tiffany Blue to celebrate Tiffany's 170-year partnership with the brand. Retail: $52,635. Phillips secondary same day: $6.5M.
The drivers:
- Discontinuation supply shock — steel Nautilus production stopped that year; the Tiffany Blue was simultaneously the most desirable and final steel 5711 issued.
- Tiffany co-signing — double-signed Patek dials trade at 10-30x premium historically. A Tiffany signature on a 5711 dial compounds the rarest variables in one piece.
- Cultural moment — LVMH had just acquired Tiffany. Watch and luxury-fashion collectors converged on this single object.
Today, market consensus is the piece holds value above $4M; auction comparables across 2024-2026 remain in the $3.8M-$6.2M range.