FLOAT 100 · Watches · No. 23
Patek Philippe Nautilus Ref. 5711/1A-014 (olive green)
Patek Philippe's farewell to the most wanted steel watch in the world was a one-year olive green dial, and about fifteen weeks after its debut a sealed example sold for more than ten times its retail price.
- Year
- 2021-2022
- Maker
- Patek Philippe
- By price in watches
- 20 of 100
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- Patek Philippe, Geneva
- Reference
- 5711/1A-014, stainless steel, olive green sunburst dial
- Unveiled
- April 7, 2021
- Made
- 2021 only; described as produced for about one year to mark the end of the steel 5711
- Case
- Steel, 40 mm, 8.3 mm thick, water resistant to 120 meters
- Movement
- Self-winding caliber 26-330 S C with stop-seconds
- Retail price
- $34,893 in the US; reported in Europe as 30,100 euros by one source and 30,860 euros by another
- Sibling
- 5711/1300A-001, the same watch with a baguette-diamond bezel, at 83,680 euros
- First auction
- July 21, 2021, in Monaco: 416,000 euros with premium for a factory-sealed example
A goodbye nobody expected
By 2021 the steel Nautilus 5711/1A was the hottest watch on the market. Clients had reportedly waited years for one, and resale prices had soared far above retail. That year Patek Philippe announced the imminent discontinuation of the steel 5711/1A in its entirety, and set out to give it a proper farewell.
The farewell was unveiled on Wednesday, April 7, 2021: the ref. 5711/1A-014, the first Nautilus with an olive green dial. It replaced the blue-black 5711/1A-010 outright. Alongside it came the ref. 5711/1300A-001, the same steel watch with a bezel set with baguette diamonds.
Patek did not call the green watch a limited edition, but it was understood to be a one-year run. Later auction catalogues describe a special dial 'to only be produced for one year to mark its departure,' and one specialist wrote that it 'existed for barely a year.' Patek has not published how many were made.
What is different about the green one
Mechanically the -014 is the late 5711: a 40 mm steel case 8.3 mm thick with alternating brushed and polished surfaces, water resistant to 120 meters, powered by the self-winding caliber 26-330 S C. That movement beats at 4 Hz with 35 to 45 hours of reserve, a Gyromax balance and Spiromax balance spring, and a stop-seconds mechanism that lets the owner set the time to the second.
The dial is an olive green sunburst with the Nautilus's horizontal ribs, white gold hour markers and luminescent hands. It is subtle in person: one auction specialist noted that it often looks quite dark indoors, with the green showing properly only in stronger light. Enthusiasts also spotted a metallic frame around the date window, a detail that differs from the blue-dial version.
Because only one dial color was made for the -014, the identifying checks are simple: the reference on the papers, a 2021 certificate of origin, the 26-330 S C movement visible through the sapphire caseback, and that framed date aperture. Examples sold at auction carried certificates dated May 25, June 9 and August 5, 2021.
Ten times retail in fifteen weeks
The watch was almost impossible to buy. Thierry Stern told one trade publication that even his own sons had asked for one: 'Even my sons are asking, "Can I have one?" But the answer is no. On the positive side, though, it's part of the beauty and myth of Patek Philippe.'
On July 21, 2021, the first green 5711 to reach auction was sold in Monaco. It was still in its factory plastic wrapping, which mattered: in 2017 Patek had told its authorized dealers to stop supplying sealed watches, precisely to discourage quick resale. Estimated at 50,000 to 150,000 euros, it sold for 416,000 euros including premium. One magazine converted the hammer price to about $376,000 and the total to about $470,000, more than ten times the $34,893 retail price. It had been consigned by its original owner.
One collector's history notes that Patek knew demand for the green and Tiffany Blue farewell releases would exceed supply, and says they could fairly be described as 'manufactured scarcity.' Whatever the intent, the green dial briefly became the emblem of the 2021 watch market.
After the peak
Prices came down with the rest of the market but stayed far above retail. At auction in New York, a brand-new example with an August 2021 certificate sold for $478,800 in June 2022, against an $80,000 to $160,000 estimate. Three years later, in June 2025, an example with a May 2021 certificate sold for $234,950. In June 2026, during the Nautilus's 50th-anniversary year, one with a June 2021 certificate brought $266,700 against a $100,000 to $200,000 estimate.
One market tracker estimated the typical pre-owned value of a 5711/1A-014 at $225,040 at the end of September 2026, against about $123,600 for the blue-dial -010 it replaced. The green dial and its diamond-bezel sibling were the last steel 5711s apart from the limited run of 170 Tiffany Blue-dial 5711/1A-018 watches of late 2021.
The numbers
- Reference
- 5711/1A-014 (olive green dial); diamond-bezel sibling 5711/1300A-001
- Caliber
- 26-330 S C self-winding, 28,800 vph (4 Hz), 35-45 hours, Gyromax balance, Spiromax spring, stop-seconds, Patek Philippe Seal
- Case
- Stainless steel, 40 mm, 8.3 mm thick, brushed and polished, sapphire caseback
- Water resistance
- 120 meters
- Production years
- 2021 (about one year)
- Production numbers
- Not disclosed
- Retail price
- $34,893 (US, 2021)
Timeline
Gerald Genta's Nautilus ref. 3700 is introduced.
The steel 5711/1A launches for the Nautilus's 30th anniversary.
Patek tells its authorized dealers to stop handing over watches still factory sealed.
Patek confirms the steel 5711/1A will be discontinued and promises a farewell.
The olive green 5711/1A-014 and the diamond-bezel 5711/1300A-001 are unveiled.
A factory-sealed green 5711 sells in Monaco for 416,000 euros with premium, against a 50,000-150,000 euro estimate.
The 170-piece Tiffany Blue 5711/1A-018 closes out the steel 5711.
A new green example sells at auction in New York for $478,800.
A green example sells at auction in New York for $234,950.
A green example sells at auction in New York for $266,700 during the Nautilus's 50th-anniversary year.
The world in 2021
Supporters of President Donald Trump attack the US Capitol.
NASA's Perseverance rover lands in Jezero Crater on Mars.
The container ship Ever Given runs aground in the Suez Canal, blocking it for six days.
NASA's Ingenuity helicopter makes the first powered flight on another planet.
The postponed Tokyo Summer Olympics open.
The Taliban take Kabul as international forces withdraw from Afghanistan.
The James Webb Space Telescope launches.
Price record
| Date | Price | Kind |
|---|---|---|
| Apr 2021 | $34,893 | Asking price, not a saleUS retail price at introduction. |
| Jul 21, 2021 | $470,000 | Sold at auctionFactory-sealed example, sold at auction in Monaco for EUR 416,000 with premium (estimate EUR 50,000-150,000). USD figure is a magazine's approximate conversion; it gave the hammer as about $376,000. |
| Jun 2022 | $478,800 | Sold at auctionBrand-new example, certificate dated August 5, 2021. Sold at auction in New York; estimate $80,000-160,000. |
| Jun 2025 | $234,950 | Sold at auctionCertificate dated May 25, 2021, full set. Sold at auction in New York; estimate $100,000-200,000. |
| Jun 2026 | $266,700 | Sold at auctionCertificate dated June 9, 2021, full set. Sold at auction in New York; estimate $100,000-200,000. |
| Sep 30, 2026 | $225,040 | Estimate, not a saleA market tracker's estimate of typical pre-owned value for the 5711/1A-014. Not a sale. |
A realized auction price is what a buyer actually paid on the date shown, including the buyer's premium where the sale reported it. It is the strongest kind of reference price, and it is a record of one sale of one object on one day, not a promise of what the next example will bring.
By reference price, Patek Philippe Nautilus Ref. 5711/1A-014 (olive green) is number 20 of 100 in the watches entries of the FLOAT 100. 54 of those 100 rest on a realized sale; the rest carry an asking price or a guide value, and each page says which. Rank within the FLOAT 100 itself (23 here) is editorial: how much an object defines its field, not price alone.
Did you know
- The -014 was the first Nautilus ever made with an olive green dial.
- Thierry Stern said even his own sons could not get one.
- The first one sold at auction was still in its factory plastic, four years after Patek told dealers to stop delivering sealed watches.
- Indoors the dial can look almost black; the green appears in stronger light.
- The green 5711's date window has a metallic frame that the blue-dial 5711 lacks.
- A green 5711 sold in New York in June 2022 for $478,800, about three times the top of its estimate.
How this page is made
- The figure
- One reference price, shown with its own kind. FLOAT does not average it with anything or adjust it for time.
- Realized or not
- A realized price is a completed sale. An asking price, an estimate and a price-guide value are not sales, and are labeled as such wherever they appear.
- The story
- Researched from published records and checked fact by fact. Updated Oct 1, 2026.
- Archive
- Oct 5, 2026