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NEWS & RESULTS

PRESS RELEASE: More Highlights from The Geneva Watch Auction: FIVE

03.30.17

Phillips, the Leading Watch Auction House Dedicated to Highest Quality Timepieces,
Announces Additional Highlights of its Spring 2017 Geneva Sale

THE GENEVA WATCH AUCTION: FIVE
taking place on Saturday and Sunday, 13 and 14 May

 will include 

An Unprecedented Offering of Exceptional Complicated Patek Philippe Wristwatches Retailed by Tiffany & Co., 

including
One of Two Known Patek Philippe Reference 2499 Second Series Perpetual Calendar Chronograph Wristwatches

and

The Only Known Patek Philippe Reference 2523 World Time
Both Signed by the Prestigious Retailer

 

GENEVA – 30 MARCH 2017 – Phillips in Association with Bacs & Russo is delighted to announce additional, outstanding highlights from its Spring Geneva auction. Offering some of the most important and iconic collectors’ watches presented at auction in recent years, The Geneva Watch Auction: FIVE taking place the weekend of 13 and 14 May at Hôtel La Réserve, will present approximately 240 collectors’ watches of the highest quality and rarity with estimates beginning as low as SFr. 2,000 - all produced by the most renowned watch manufacturers of the last century.

In addition to the exceptional selection of Rolex watches announced previously, Phillips is proud to present one of the most important and impressive groupings of rare and complicated Patek Philippe wristwatches signed by the prestigious retailer, Tiffany & Co. Originally founded in 1837, the American firm retailed some of the most exquisite watches from watchmakers. With their signature prominently applied to the dials of these watches, Tiffany & Co.-signed watches are especially sought after by collectors around the world.

Two top highlights of the sale are amongst them, including a yellow gold Patek Philippe second series perpetual calendar chronograph, reference 2499 (estimate: SFr. 1’000’000-2’000’000) – one of only two known retailed by Tiffany & Co., and an extremely rare and attractive 18K gold dual crown World Time wristwatch, Patek Philippe reference 2523/1 (estimate: SFr. 900,000-1,800,000) – the only known example retailed by Tiffany & Co.

In addition, a world class selection of vintage and modern timepieces featuring cloisonné enamel will be offered, including a highly important Patek Philippe yellow gold pocket watch with cloisonné enamel dial depicting North America, reference 605 HU (estimate: SFr. 300’000-600’000), and a unique Patek Philippe mechanical cloisonné enamel dome table clock, ref. 743E, made in 1959 (estimate: SFr. 120’000-250’000).

Other exceptional Patek Philippe watches include a fresh-to-the-market perpetual calendar in rose gold – "The Sydney Rose” (estimate: SFr. 400,000-800,000). This extremely well-preserved reference 2497 comes directly from the son of the original Australian owner, where it spent nearly 50 years unworn in a vault. A further highlight is a fine and rare pink gold split seconds chronograph with pink dial – one of only nine known, reference 1436 (estimate: 350,000-550,000).

Finally, to celebrate the 100th Anniversary of Cartier’s legendary Tank watch first introduced in 1917, The Geneva Watch Auction: FIVE will feature a superb selection of rare and highly desirable variants of the Tank.

Aurel Bacs, Senior Consultant, states, ""We are very proud to offer such an impressive array of timeless masterpieces, of the highest quality, celebrating the golden age of wristwatches. The greatest names, including Patek Philippe, Vacheron Constantin, Audemars Piguet, Cartier, Omega, Heuer, Longines and of course Rolex (see separate release) are reunited – and each represented by their greatest models from the 20th century. Whereas many have not been offered on the market in years and in some instances for decades, we are particularly thrilled to have been entrusted with some exceptional pieces that were never before offered in public. Amongst them, the rose gold Patek Philippe reference 2497, a perpetual calendar wristwatch with its original bracelet, made in 1954. It was in Patek Philippe’s stock for another 6 years until eventually being sold to its first owner, in Australia, in 1960. Since then it has hardly ever seen the daylight as it was stored in a private safe for most of the last 50 years. In close to pristine condition, this treasure has now returned from Sydney, after 57 years, to Geneva where its life started over 60 years ago. This is what horological dreams are made of!”

Selection of Patek Philippe Wristwatches, Retailed by Tiffany & Co.:

PATEK PHILIPPE Reference 2499, Second Series

An extremely rare and highly important yellow gold perpetual calendar chronograph wristwatch with moon phase retailed by Tiffany & Co., circa 1960.

There are times where a particular complication is associated immediately with a brand and the perpetual calendar chronograph is unmistakably part of Patek Philippe’s genetic code. Reference 2499 was introduced in 1951 and was made for a period of 34 years, in four different series, a total of 349 pieces were made, making this a highly exclusive reference in the company’s history.

Only two reference 2499 second series with Tiffany & Co. signature are known, one with Arabic numerals and the other, the present lot, with baton indexes, making this timepiece even more covetable.

Estimate: Sfr.1,000,000 - 2,000,000

PATEK PHILIPPE World Time Wristwatch, Reference 2523/1

An extremely rare, important and attractive 18K gold dual crown world time wristwatch with 24 hour indication, retailed by Tiffany & Co., circa 1963.

There are watches that are icons and there are watches that are milestones. Patek Philippe world time watches are of the rare breed that proudly combine the two and set the benchmark.

In the early 20th century, genius watchmaker Louis Cottier designed a "World Time” pocket watch movement that could display the correct time in both hours and minutes, night and day, for every time zone in the world simultaneously, all the while allowing easy and accurate reading of local time, and all on a single dial.

Cottier miniaturized his invention in the late 1930s which first appeared in the Patek Philippe ref. 1415 wristwatch, a single crown world time model with its bezel engraved with cities to be switched manually.

Launched in 1953, reference 2523 featured a new two-crown system, one for winding the watch and the other at 9 o’clock controlling the city disc. Two versions were available, reference 2523 with larger lugs sitting above the bezel and reference 2523/1 with a slightly larger diameter and thinner lugs no longer sitting above the bezel.

According to scholarship, only nine reference 2523/1 are known in all case metal and dial combinations. However, the present lot is the only one known with the prestigious Tiffany & Co. signature.

Estimate: Sfr.900,000 - 1,800,000

PATEK PHILIPPE Perpetual Calendar, Reference 3450

A highly exclusive and very attractive yellow gold perpetual calendar wristwatch with moon phases and "red dot" leap year indicator, retailed by Tiffany & Co., circa 1985.

Introduced in 1981 as the successor of reference 3448 – Patek Philippe’s first self-winding perpetual calendar wristwatch – the reference 3450 houses the 27-460 QB caliber Scholarship has only accounted for five Tiffany & Co. signed reference 3450s to have been offered at public auctions.

Estimate: Sfr.220,000 - 320,000

PATEK PHILIPPE Reference 2597

A fine and rare gold wristwatch with separately adjustable hour hand, retailed by Tiffany & Co., circa 1961.

Based on Louis Cottier’s "Time Zone Watch” system developed in 1959, the reference 2597 was made in two versions; first generation models, such as the present lot, feature an independently adjustable hour hand using pushers found on the left side of the case for setting the hour hand forward or backwards in one-hour increments. The second version, launched in 1962, featured an additional hour hand.

With its original Tiffany & Co. signed dial, it is one of only a few known 2597 models with such a coveted signature.

Estimate: Sfr.70,000 - 120,000

 

Other exceptional highlights to be sold during The Geneva Watch Auction: FIVE include: 

PATEK PHILIPPE 2497 in Rose Gold – "The Sydney Rose”

A very rare and highly attractive pink gold perpetual calendar wristwatch with moonphase and sweep center seconds, circa 1954.

Reference 2497 was first introduced in 1951 and is a gem of horological design with its balanced symmetry, spectacular curves, and large case size. In fact, reference 2497 and its water resistant sibling ref 2438/1 are considered by many to be one of the most beautiful perpetual calendar wristwatches ever made. Fitted with its original woven „Milanese” gold bracelet, as confirmed by the Patek Philippe Extract from the Archives, the watch was made in 1954 and remained unsold for six years. Direct from the family of the second owner who bought the watch in the late 1960s in Australia, he wore it sparingly and put it in a safe in the early 1970s, never to be worn again. Remaining basically untouched for the past 60 years, it is, to the best of our knowledge, the only reference 2497 to feature luminous hands and original pink gold bracelet.

Estimate: Sfr. 400,000 - 800,000

PATEK PHILIPPE Chronograph, Reference 530

A fine and rare yellow gold chronograph wristwatch with silver dial and Breguet numerals, circa 1949.

First launched in 1937, this fine and rare yellow gold chronograph wristwatch with silver dial and Breguet numerals, remains one of the rarest chronograph models manufactured by the firm. There are certain references of Patek Philippe wristwatches that can be considered the ultimate in terms of rarity, desirability, and aesthetic beauty. The oversized chronograph reference 530, as in the present lot, is one of these. Its original silver dial with Breguet numeral hour markers retains its crisp, hard enamel printing as it left the factory nearly 70 years ago.

With its original factory finished case, its untouched condition gives it an almost mythical status, making it a crown jewel for the connoisseur.

Estimate: Sfr.300,000 - 600,000

PATEK PHILIPPE Split-Seconds Chronograph, Reference 1436

An extremely fine and rare pink gold split seconds chronograph wristwatch with pink dial, circa 1938.

Reference 1436 is the first split seconds chronograph wristwatch that Patek Philippe ever produced in series. The reference is possibly one of the finest watches ever produced by the firm, with the rattrapante chronograph mechanism. Predominantly produced in yellow gold, the model was very rarely cased in pink gold. In fact, research suggests that less than nine examples are known to have survived in pink gold, with exceedingly few examples featuring a pink dial, such as the present watch. Rare still, this example is complete with all its original accessories such as its original certificate, bill of sale confirming the watch was cased in pink gold, envelope and fitted presentation box. A treasure for the discerning connoisseur.

Estimate: Sfr. 350,000 - 550,000

Selection of Cloisonné Enamel Timepieces:

PATEK PHILIPPE World Time Pocket watch, Reference 605 HU

A highly important and rare yellow gold open face world time watch with cloisonné enamel dial depicting North America, circa 1948.

To the collector worldtime watches with cloisonné enamel dials are immediately associated to Patek Philippe. These beautiful creations in either wristwatch or pocketwatch form with vibrant polychrome colors have become highly sought after. The present lot uses the worldtime mechanism created by genius watchmaker Louis Cottier. Production of reference 605HU for Heures Universelles (universal hours in French) commenced in 1937 continuing up to the late 1960s. These models were available either with metal dials or cloisonné enamel dials representing most often continents or mythical creatures. Fresh to the auction market, it will delight the savvy collector with its extraordinary vibrant colorful dial, ultimate rarity and overall excellent condition.

Estimate: Sfr. 300,000 - 600,000

PATEK PHILIPPE Dome Clock, Reference 743 E

An extremely fine and unique gilt brass solar power dome table clock with cloisonné enamel depicting the Geneva harbour, circa 1959.

The enamel of the present dome clock was created by Michel Deville in 1959. Michel Deville was responsible for some of the most vibrant and attractive enamel work found on different Patek Philippe dome clocks. Overlaid on this landscape, the enamel artist has placed gears and plates and one can make out the dial of Patek Philippe’s reference 2497 perpetual calendar.

This clock first appeared on the market in 2007 and has since been part of a very important private collection.

Estimate: Sfr.120,000 - 250,000

OMEGA Constellation "De Luxe”, Reference 2699SC

A fine and rare yellow gold wristwatch on bracelet with cloisonné enamel dial depicting the cupola of the Geneva Observatory, circa 1954.

Omega’s Constellation collection was launched in 1952. In the aftermath of World War II, Omega started offering timepieces with cloisonné enamel dials depicting tropical landscapes, mythical characters, maps or coat of arms. In 1954, Omega made a small batch of cloisonné enamel dials depicting the Geneva Observatory cupola in vibrant hues of blue, turquois and gold upon special order from a Middle Eastern client. In overall excellent condition and fitted with an extraordinary dial, this example is one of Omega’s most important watches of the era.

Estimate: Sfr. 80,000 - 120,000

ROLEX Champs Elysées "Chimera”, Reference 8724

An extremely rare, important, and highly attractive yellow gold wristwatch with cloisonné enamel dial depicting a Chimera, circa 1953.

The spectacular dial of this masterpiece represents a "Chimere”, or Chimera, and is one of the superb examples of Marguerite Koch’s artistic talents as an enameller. A true Rolex masterpiece when made in around 1953. Over 60 years later, it remains a treasure worthy of crowning the world’s finest collections.

Estimate: Sfr.100,000 - 200,000

Highlights from the auctions will be on view in Hong Kong (1 to 4 April), London (8 to 11 April) and New York (21 to 24 April), prior to the pre-sale exhibitions commencing in Geneva on Thursday 11 May.

 

ABOUT PHILLIPS IN ASSOCIATION WITH BACS & RUSSO

The team of specialists at Phillips Watches is dedicated to an uncompromised approach to quality, transparency, and client service, and as a result, in just two years since launching, achieved market leadership with sales of over $107 million in 2016. With multiple world records including the highest result ever achieved for a wristwatch sold at auction, Phillips became the undisputed worldwide market leader with just two selling locations – Geneva and Hong Kong – in 2016.

A selection of our recent record-breaking prices:

  • Patek Philippe reference 1518 in stainless steel – Geneva Watch Auction FOUR – 12 November 2016 (11,002,000 CHF / US $11,000,000) - Highest result ever achieved for a wristwatch at auction
  • Patek Philippe 2499 (19,720,000 HKD / US $2,538,000) – Hong Kong Watch Auction: TWO – 31 May 2016 – Highest result ever achieved for any wristwatch sold at auction in Asia
  • Rolex reference 4113 (2,405,000 CHF / US $2,453,000) – START-STOP-RESET – 14 May 2016 – Highest result ever achieved for any Rolex sold at auction

ABOUT PHILLIPS

Phillips is a leading global platform for buying and selling 20th and 21st century art and design. With dedicated expertise in the areas of Art, Design, Photographs, Editions, Watches, and Jewelry, Phillips offers professional services and advice on all aspects of collecting. Auctions and exhibitions are held at salerooms in New York, London, Geneva, and Hong Kong, while clients are further served through representative offices based throughout Europe, the United States and Asia. Phillips also offers an online auction platform accessible anywhere in the world.

Visit www.phillips.com for further information.

*Estimates do not include buyer’s premium; prices achieved include the hammer price plus buyer’s premium.

PRESS CONTACTS:

GENEVA - Asta Ponzo, PR Consultant                                                       aponzo@phillips.com                +41 799618566

LONDON - Katie Carder, Press Manager, EMEA                                   kcarder@phillips.com                +44 20 7901 7938

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