Patek Philippe 1923 Officier Achieves $2.9 Million; Five Bespoke Patek Titanium Watches Fetch Millions

Patek Philippe 1923 Officier 

The Patek Philippe earliest known single-button split-seconds chronograph wristwatch sold for nearly $3 million Tuesday at Sotheby’s New York. It was part of a private collection of 12 Patek watches, including five bespoke titanium timepieces, which sold for a total of $7.1 million.

Sotheby’s described the Patek Officier chronograph as “a piece of watchmaking history.” It was started in 1903 and completed and sold on October 13, 1923, according to the auction house. The yellow gold watch is the only split-seconds chronograph by Patek Philippe with a white enamel dial. It sold at auction to a Swiss museum for $2.965 million—more than double its $1.2 million high estimate. The price matches Sotheby’s top result for any wristwatch, achieved by The Henry Graves, Jr. Yellow Gold Minute Repeating Wristwatch by Patek Philippe, which sold in 2012.

The $7.1 million price for the 12 Patek Philippe watches, which the auction house called “The Titanium Collection,” well exceeded its $4.9 million high estimate. In addition to the five titanium watches and the historic Patek split-seconds chronograph, the 12 watches placed on auction Tuesday included additional references by Patek that have remained unknown to collectors, as well as unique pieces incorporating rare materials and designs beyond titanium.

Patek Philippe Ref 5001T Sky Moon Tourbillon

The titanium collection was led by the previously-unknown Ref. 5001T Sky Moon Tourbillon that fetched more than $1.3 million. The double dialed wristwatch has 12 complications including tourbillon, perpetual calendar, retrograde date, sky chart, moon-phases, orbit display, sidereal time and minute repeating on cathedral gongs, made circa 2002. In addition to the lightweight metal, the watch is further distinguished by its basket weave motif, repeated on the bezel and the dial where the standard Sky Moon Tourbillon normally features the firm’s signature Calatrava crosses, as well as unabbreviated cardinal points on the star chart.

Other commissioned pieces in the collection include the previously unknown Platinum Ref. 5103P, which sold for $773,000 and the Flawless Officer Ref. 3928, which achieved $737,000—an auction record for a contemporary time-only watch by Patek Philippe and well above its $500,000 high estimate. The case back of the Flawless Officer is set with a 9.44 carat, D color, internally flawless diamond that provides a window to the movement.

Sotheby’s Important Watches Auction totaled $11.7 Million, the highest total for an auction of timepieces from various watch owners at Sotheby’s New York. Other highlights included:

* A gold, hardstone, enamel and gem-set desk timepiece in the form of a tortoise, circa 1928, sold for $875,000, well above its $500,000 high estimate. The dial and movement are concealed within the tortoise shell that opens.

* A white gold and diamond-set bracelet watch, Ref 40011 by Piaget carrying a total diamond weight of approximately 57 carats fetched $398,000, above its $300,000 high estimate.

* The Hublot Key of Time MB-02 and the Jaeger-LeCoultre Duometre a Spherotourbillon, each brought in $185,000.

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Bespoke Titanium Patek Philippe’s Sky Moon Tourbillon Could Fetch $1.5 Million

Patek Philippe Ref 5001T Sky Moon Tourbillon

A unique collection of watches that includes five bespoke Patek Philippe references made in titanium will be part of Sotheby’s New York Important Watches auction on June 10. The collection of vintage and modern timepieces is led by the Patek Philippe Ref 5001T Sky Moon Tourbillon, a previously undocumented reference and the only known example of Patek Philippe’s Sky Moon Tourbillon in titanium. Its estimate is $1 - $1.5 million.

The double dialed wristwatch has 12 complications including tourbillon, perpetual calendar, retrograde date, sky chart, moon-phases, orbit display, sidereal time and minute repeating on cathedral gongs, made circa 2002. In addition to the lightweight metal, the watch is further distinguished by its basket weave motif, repeated on the bezel and the dial where the standard Sky Moon Tourbillon normally features the firm’s signature Calatrava crosses, as well as unabbreviated cardinal points on the star chart.

The Patek Philippe titanium timepieces are part of a private collection of 12 watches that includes additional references by Patek Philippe that have remained unknown to collectors, as well as unique pieces incorporating rare materials and designs beyond titanium. The timepieces have a total estimate of more than $3 million.

Patek Philippe Ref 5033T, titanium automatic annual calendar
minute repeating wristwatch.

In addition to the Ref 5001T, highlights of the previously unknown titanium wristwatches by Patek Philippe include: the Ref 5033T, a titanium automatic annual calendar minute repeating wristwatch made in 2003 (estimate est. $400,000 - $600,000); and the Ref 5102T Celestial, a titanium automatic astronomical wristwatch with sky chart, phases and position of the moon and time of Meridian passage of Sirius and the moon, made in 2003 (estimate. $200 $300,000).

Until this auction, there were only four known watches in titanium made by Patek Philippe.

“When first learning about this collection, it was almost impossible to conceive of so many important yet unknown pieces from Patek Philippe,” Daryn Schnipper, chairman of Sotheby’s Watch & Clock Department, said in a statement. “The five titanium watches are an absolute revelation. This group is a testament to the influence and ultimate connoisseurship of its collector, who had the foresight to customize these references in discreet yet significant ways.”

Patek Philippe 1923 Officier

Another star of the private collection is the Patek Philippe 1923 Officier, which Sotheby’s said is one of the most important wristwatches produced by the firm. The yellow gold single button split-seconds chronograph originally sold on October 13, 1923, making it the earliest known split-seconds chronograph produced by the firm. It is the only split-seconds chronograph by Patek Philippe to feature a white enamel dial. Its estimate is $800,000 - $1.2 million.

Patek Philippe Ref 5103P platinum automatic minute repeating semi-skeletonized perpetual calendar wristwatch with retrograde date, moon phases and leap year indication.

Another previously undocumented Patek Philippe is the Ref 5103P platinum automatic minute repeating semi-skeletonized perpetual calendar wristwatch with retrograde date, moon phases and leap year indication made in 2004. The watch has bespoke engraving on its movement plates as well as a unique teardrop pattern on its side. Its estimate is $500,000 - $700,000.

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The Complicated Process of Defining A Grand Complication Watch

Patek Philippe Reference 959/J Grand Complication Timepiece at Aaron Faber Gallery.

The question of what are the components that define a grand complication timepiece seems fairly straightforward and at least two members of an esteem group of panelists discussing this topic said there is an absolute answer to this question. However, the definitive explanation proved to be elusive during a discussion about this and other timepiece topics during a rainy June evening at Aaron Faber Gallery in New York.

The fact is the discussion of grand complications is … well … complicated. First, you need agreement of what is a complication. In its simplest definition a complication is any feature to a timepiece outside of the simple display of hours, minutes, and seconds (for example, a date/day display). However, that doesn't quite cut it when trying to define the term in a grand complication, considered the most complex achievement of haute horlogerie.

Grand complications panelists (from left): Gary Girdvainis, Edward Faber, Michael Friedman, Osvaldo Patrizzi and Alexis Sarkissian.

Osvaldo Patrizzi, best-known as the founder of Antiquorum, the international auction house for timepieces, is one of the most connected, most respected and best known people in the world of haute horlogerie. He said the reason grand complications are so expensive and so rare is because it’s extremely difficult to fit several complications into such a small space and because the type and number of complications in a watch will affect its appearance.

“The more complications you want the more problems you have,” he said in his Italian accent.

He noted that he was among a small group of people who worked at creating a definition for a complication in an “ultra-complicated” watch.

“We spent one day to define what is a complication on a normal size watch,” he said. “A complication is when you are able to give one (piece) of information.”

Panelists were in relative agreement on this. The next question by the moderator, Gary Girdvainis, publisher and editorial director of the publications, WristWatch Magazine and AboutTime, was: Is a toubillon a complication?

The toubillon was invented by French-Swiss watchmaker Abraham-Louis Breguet, to (in simple terms) negate the effects of gravity on the accuracy of a timepiece. It is housed in a rotating cage that is often seen on the dial. It is a beautiful, complex device that is widely sought after among watch collectors. But does it provide information?

On this, Patrizzi, the man who in his own words helped give the definition of a complication, gave a long response that was noncommittal. 

[Update, July 24] Patrizzi clarified his statement saying that he has always considered a tourbillion a complication.

Michael Friedman, a timepiece auctioneer, a museum curator and noted expert on the history of horology, was more direct.

“The tourbillion is an incredibly complicated escapement but in my mind it’s not necessarily a complication,” he said. “It was a complicated escapement that Breguet designed to solve a very specific problem.”

The panelists, which also included Edward Faber, founder of Aaron Faber Gallery and author of American Wristwatches: Five Decades of Style and Design; and Alexis Sarkissian, founder of Totally Worth, a boutique distribution network for luxury timepieces; seemed to be in agreement. If Patrizzi was cornered I think he would agree as well.

So what are the complications that make up a grand complication? Again the panelists were in relative agreement: minute repeater, perpetual calendar, phases of the moon, grand and petite sonnerie, and split-seconds chronograph.

Friedman strayed a bit with his answer, saying a simple chronograph would be acceptable in his view.

“I’m a bit of a traditionalist for a definition. I view that it has to have minute repeater, perpetual calendar, phases of the moon (and) grand and petite sonnaire. These are the classic complications that need to be part of the grand complication,” he said. “Once we get beyond those basics, it’s a matter of definition. It’s a matter of companies marketing themselves in a particular way, whether something has an alarm, whether something has a split-second chronograph versus a standard chronograph. For me a grand complication can have a standard chronograph. It doesn’t have to have a split-second chronograph, partly because if we’re talking about a complicated watch from the 1870s, it likely would have had a standard chronograph function of a watch. So for me those are the classics.”

Friedman also noted that the same conversation would have been different if it was held at certain periods during the last 150 years.

“That’s one thing I love about this topic,” he said. “It’s a moving target and the definitions change over time.”

Panelists also discussed variations in the auction market for high-end watches, maintenance and repairs of ultra-complications watches, the increase of watch brands under corporate ownership and the need for more watchmakers throughout the world. These are all topics that need their own space.

The discussion was held the day before Christie’s was auctioning the earliest and most significant example of a Patek Philippe grand complication. The Stephen S. Palmer Patek Philippe Grand Complication No. 97912 is a minute repeating perpetual calendar split-seconds chronograph watch with grand and petite sonnerie and moon phases. It was manufactured in 1898. It has never been seen in public and it was the first time it ever appeared at auction. The watch was purchased on Oct. 3, 1900, for 6,500 Swiss francs by Stephen S. Palmer.

It sold for more than $2.25 million, a world auction record for a Patek Philippe grand complication.

Aaron Faber Gallery held a week-long exhibition that featured a similar grand complication as its centerpiece: a Patek Philippe Reference 959/J (top picture). Made in 1992, it has a perpetual calendar, moon phases, split seconds chronograph, grand and petite sonnerie, and minute repeater. 

It’s a steal at $1.5 million. 

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Earliest Known Patek Philippe Grand Complication Sells For A Record $2.25 Million

The earliest and most significant example of a Patek Philippe Grand Complication sold for more than $2.25 million Tuesday at Christie’s New York Important Watches auction—well above its $1.5 million high estimate. The price represents a world auction record for a Patek Philippe Grand Complication.

The Stephen S. Palmer Patek Philippe Grand Complication No. 97912 is a minute repeating perpetual calendar split-seconds chronograph clockwatch with grande and petite sonnerie and moon phases, manufactured in 1898. It has never been seen in public and it was the first time it ever appeared on the auction block. 

The definition of Grand Complication is often debated among watch experts and collectors, but it is generally agreed that it features the following: Grand and Petite Sonnerie, Perpetual Calendar and Moon Phases, and Split-Seconds Chronograph.

Until the appearance of the 18k pink gold Palmer watch, it was broadly accepted that Patek Philippe did not make its first Grand Complication until 1910 and that the second ever made was reserved before World War I for James W. Packard in 1916, Christie’s said recently.

With all of the avid collectors of important watches, the historical watch experts, and the way that luxury watch companies maintain their historical data—how could such a rare and valuable watch be unknown? Last night I attended a panel presentation on Grand Complications at the Aaron Faber Gallery in New York and was told by two of the panelists that this type of thing does occasionally happen. Michael Friedman, an historical watch expert, explained to me that being in a private collection the watch was unknown. In addition, even if Patek Philippe has the information in its archives it would not have released it unless asked.

The watch was purchased on Oct. 3, 1900, for 6,500 Swiss francs by Stephen S. Palmer. The original certificate and presentation box were included in the sale.

The sale of 361 lots totaled nearly $8 million. 

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Chopard and Patek Modern Watches Were Top Sellers at Sotheby’s

18K white gold and diamond Chopard tourbillon watch

An 18K white gold and diamond Chopard limited edition tourbillon watch and a Patek Philippe platinum automatic minute repeating perpetual calendar tonneau both sold for $461,000 at Sotheby’s final watch and clock auction of the spring season in New York. 

Patek Philippe platinum automatic minute repeating perpetual calendar tonneau.

The Chopard piece, released circa 2007, has a dial covered with baguette-cut diamonds and a power reserve at 12 o'clock. The Patek Philippe circa 1997 watch has a retrograde date and moon-phases compilations. Sotheby’s Important Watches & Clocks auction held Monday opened and closed with these two modern complicated wristwatches.

The auction took in more than $7.1 million, besting its pre-sale high estimate of $6.5 million and selling 89.1% by lot.

Other pieces of significance that sold included a circa 1915 Cartier desk timepiece that fetched $100,000 and a prototype sports model made by Rolex in 1967 that achieved $383,000—nearly five times its high estimate. A limited edition tourbillon by A. Lange & Söhne from 2011 brought in $197,000.

Pieces made for the Chinese, Indian and South American export markets owned by inventor and businessman Robert Howard brought in approximately $1.4 million, while all ten lots from the estate of golf course designer Jaime Ortiz-Patiño sold and were led by a Patek Philippe Ref 5004R that sold for $185,000.

“We are thrilled to finish it with an auction that performed so well across the full diversity of makers and time periods represented,” said Katharine Thomas, head of Sotheby's Watches department in New York.

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Stephen S. Palmer Patek Philippe Grand Complication May Fetch $1.5 Million

Christie’s New York said it will offer the earliest and most significant example of a Patek Philippe grand complication as the highlight of its New York Important Watches auction on June 11. It is estimated to fetch $1 to $1.5 million.

The Stephen S. Palmer Patek Philippe Grand Complication No. 97912 is a minute repeating perpetual calendar split-seconds chronograph clockwatch with grande and petite sonnerie and moon phases, manufactured in 1898. It has never before seen in public, and it is the first time ever on the auction block.

Until the appearance of the Palmer watch, it was broadly accepted that Patek Philippe did not make its first Grand Complication until 1910 and that the second ever made was reserved before World War I for James W. Packard in 1916, Christie’s explained.

Purchased on Oct. 3, 1900, for 6,500 Swiss francs by Stephen S. Palmer, the discovery of this watch serves as a “spectacular addition to scholarship surrounding Patek Philippe and Grand Complications in general,” Christie’s said in a statement. “Adding to its rarity, it is the only example known to have been cased in pink gold whereas all following pieces were cased in yellow gold according to the style of the early 20th century.”

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Large Independent Watch Brands at Baselworld 2013

Patek Philippe Ref. 5200 Gondolo 8 Days, Day & Date Indication

The sharks are circling this next group of watch brands that I saw at Baselworld 2013. By sharks I mean Swatch Group, LVMH, PPR/Kering and others like them who gobble up independent watch companies like Yellowfins with a never ending appetite. These companies (and a few others) are for the most part large and successful and have managed to keep their independence.

This independence is something they wear proudly and even use for their marketing. They all claim that they will remain free of the luxury conglomerates but others who have made the same vow have fallen to the seduction of these companies and their deep pockets as well as the new realities of a global watch business.

So here’s a chance to view the labor of independent companies before the sharks take another other bite out of these remaining few.

Patek Philippe Ref. 5200 Gondolo 8 Days, Day & Date Indication (top photo)
Arguably the most successful Swiss watch company in history, it's difficult to imagine this company being anything but independent.

For this model, Patek developed a new mechanical caliber with Silinvar components created at the “Patek Philippe Advanced Research” think tank. The result is a form movement with a genuine 8-day power-reserve display. The watch is housed in a curved Art Deco style case.

The rectangular caliber 28-20 REC 8J PS IRM C J was developed for the Ref. 5200 Gondolo. In twin in-line barrels it stores the power needed to guarantee that it will run non-stop for 192 hours. The winding mechanism requires 134 revolutions every eight days. The day and date indicators are located on the “sunshine blue” dial at 6 o’clock and the power reserve function is at 12 o’clock.

Patek says the movement’s eight-day staying power with the day and date apertures is due to the patented oscillator with a Spiromax balance spring and a Pulsomax escapement. It is the manufacture’s first 4-hertz movement with these patented elements. The watch is also available with a white dial.

Oris ProDiver Pointer Moon
Oris says this professional diver’s watch is the world's first mechanical timepiece to indicate both the lunar cycle and the tidal range.

The watch was inspired by its brand ambassador, commercial diver Roman Frischknecht. The dial design indicates the tidal range and lunar cycle at a glance, removing the need for divers to consult manuals. It incorporates Oris's patented Rotation Safety System, which allows the wearer to keep track of a certain time period using a rotating bezel that can be locked to prevent accidental adjustment, and an automatic helium escape valve.

The automatic movement, Oris Cal. 761, is based on a Sellita SW220 with pointer moon function and a date display at 5 o’clock. Its titanium case is water resistant to 1,000m. For ease of readability for divers, the sapphire crystal is domed on both sides and has an inner anti-reflective coating. It is available in northern and southern hemisphere tide range indication.

Corum Ti-Bridge Automatic Dual Winder
Corum’s latest addition to the Bridges collection has a “Dual Winder” system powered by the automatic CO 207 caliber. This movement derives its energy from two interconnected inline oscillating weights. The watch also boasts a patented winding system and a new titanium case.

The patented Corum Dual Winder system features two inline-mounted circular oscillating weights, interconnected by a transmission arbor that makes them move in parallel. The winding is efficient in both directions. A single barrel placed at 3 o’clock stores up the CO 207 caliber’s 72-hour power reserve. The CO 207 movement is held in the center of the case by four titanium cross-bars. The impression of a suspended mechanism is further accentuated by its transparency, framed by an anthracite grey dial. It is available in grade 5 titanium and in 5N 18k red gold.

Carl F. Bucherer Manero MoonPhase Limited Edition
This watch marks the 125-year anniversary when Carl Friedrich Bucherer founded the company. It provides the date, day of the week and the month with a moonphase.

The date is shown by a hand around the center of the dial. The day of the week indicator is positioned at 10 o’clock, and the month can be seen at 2 o’clock. The moonphase indication is positioned at 6 o’clock. The watch is powered by the automatic CFB 1966 caliber.

With a diameter of 38 mm, the bicolored case is made of 18k rose gold and stainless steel. In spite of the many indications, optimum legibility is enhanced by the wedge-shaped index marks and the tapering Super-Luminova-coated hours and minutes hands. The moonphase indication has a gold-colored moon shining out against a blue background. It is limited to 125 pieces.

Nomos Glashütte Orion 38 Gray
This latest version of the Orion at 38mm is a bit wider than the usual Orion and has a touch of gray. the standard Nomos caliber (with the hand-wound Alpha movement ) is visible through the sapphire crystal back. The face is galvanized and rhodium-plated in silver-gray, which gives it a glazed appearance. The watch’s indices are embossed and diamond-coated. It is one of a series of four Orion 38 watches that were introduced at Baselworld. The company hails from Glashütte, the watchmaking capital of Germany.

Frédérique Constant Slimline Moonphase Manufacture
Five new models of the Slimline Moonphase Collection were introduced at Baselworld and all are driven by the FC-705 Manufacture caliber.

Each complication in the watch is accessed through a three-position single crown. “Position 0” is for winding the watch. At “Position 1,” the date can be adjusted by turning the crown clockwise. Turning the crown counter clockwise adjusts the moonphase. “Position 2” is used to adjust the hour and minute hands.

Other features include the slimline design and a case diameter of 42 mm. Each dial presents the date display and moonphase at the 6 o’clock position. A new technology known as “laser ablation” was used to create a detailed and precise image of the moon. Finally, each model comes with a 26-jewel movement, a 42-hour power reserve and a Circular Côtes de Genève decoration on the movement.

Alpina 130 Heritage Pilot Automatic Chronograph
This watch celebrates Alpina’s 130th anniversary. The “Bi-compax" chronograph was inspired by an Alpina pilot chronograph from the beginning of the 20th Century.

The Alpina 130 features a sapphire crystal with anti-reflective coating that guarantees perfect contrast between all elements of the dial, regardless of the angle of the light shining on the watch. The classic dial design, with telemeter and tachymeter scales provides a balance between technicality, elegance and readability. The transparent case back allows a view of the AL-860 automatic chronograph caliber with its fine fish scales decoration and blue screws.

The tachymeter scale gives the means to measure average speed of movement, while the telemeter scale provides the distance between the source of a specific sound effect and the position of the listener. These functions are important for pilots and drivers who rely on time, speed and distance variables.

Raymond Weil Freelancer 7730
The new additions to the watch brand’s Freelancer chronograph collection include a 42mm steel case watch with black galvanic dial punctuated with red colored notes. The steel-colored minute and hour hands are coated in a luminescent material providing night-time visibility. It has a seconds subdial at 9 o’clock and a three-day date and day window at 3 o’clock, adjusted by a push pin also at 3 o’clock. The chronograph start, stop and restart push-button is at 2 o’clock and a reset button at 4 o’clock. In addition, there’s a 30-minute counter at 12 o’clock and a 12-hour counter at 6 o’clock.

Jacob & Co. Quenttin Tourbillion Baguette
The company known for its over-the-top flare and dramatic reinterpretations of timepieces released its latest version of the Quenttin Tourbillion, which in this case is covered in baguette-shaped diamonds. The curved case measures 56 x 47 x 21.55mm and is topped with 26.01 carats of diamonds. The satin-finished titanium and 18k rhodium-plated, polished white gold is set with 453 diamonds (23.81 carats). The tourbillon is visible through a side window.

The dial indicators are on revolving cylindrical drums with Super-luminova Arabic numerals, with the central hours cylinder and minutes cylinder to the right; and power reserve indication on the left cylinder. The movement is a manual-winding Jacob & Co. MHC-manufactured caliber 9031 with one-minute vertical tourbillon; frequency 21’600 vph, seven spring barrels and 31-day power reserve.

Black vulcanized rubber strap with 18k white gold deployment buckle is set with 40 baguette diamonds (2.20 carats). It is limited to six pieces.

Perrelet Turbine Chrono
The watch brand created a timepiece collection incorporating a chronograph into a Turbine powered by an in-house P-361 automatic movement. The chronograph measurements are provided by a central seconds chronograph hand and a 60-minute counter. The former runs over a large inner bezel surrounding the dial, while the latter is composed of two juxtaposed sapphire crystal elements. A graduated mobile disk turns in the center of a fixed ring marked with a red arrow bearing the inscription “min” and pointing to the recorded times. The transparency of the chronograph counter allows the signature rotor of the Turbine watch to remain visible.

Five chronographs make up the collection in 47 mm-diameter cases with tachometric bezels and applied rings. There are three variations in graded shades of black and white, one enhanced with 4N pink gold, and an All-Black model.

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World Records Set for Eric Clapton’s Patek Philippe Watch and Patek Chronometer

Eric Clapton's watch with moon phases sold for $3.6 million. CHRISTIE'S IMAGES LTD. 2012

A Patek Philippe platinum perpetual calendar chronograph wristwatch with moon phases owned by famed guitarist Eric Clapton sold for $3.6 million at Christie’s Geneva Important Watch auction held Monday.

Described by the auction house as a reference 2499/100, movement number 869'308, and case number 2'817'876, it was manufactured in 1987. The Calibre 13''' mechanical movement was stamped twice with the Geneva seal. The watch from the famed rock and blues musician and songwriter (nicknamed “slowhand”) has 23 jewels, silvered matte dial, applied gold baton and square numerals, gold dauphine hands, outer Arabic five minute divisions, windows for day and month, three subsidiary dials for constant seconds, 30 minutes register and moon phases with date, circular case, stepped downturned lugs, snap on back. Finally it has a platinum Patek Philippe buckle, case, and a signed 37.5 mm. diameter dial and movement.

Patek Philippe unique platinum chronometer wristwatch sold for $4 million. CHRISTIE'S IMAGES LTD. 2012

While Clapton’s watch may have been the piece the received the most press, it didn’t receive the highest bid at the auction. That honor went to “J.B. Champion Platinum Observatory Chronometer.” a Patek Philippe unique platinum chronometer wristwatch with Guillaume balance, Bulletin d’Observatoire, additional diamond-set dial and platinum bracelet that sold for just under $4 million, a world auction record for a watch without complications.

Manufactured in 1952, the historically significant 13''' caliber, 13 Lépine, mechanical movement is numbered twice and stamped twice with the Geneva seal, three-quarter plate, 20 jewels, blued steel Breguet balance spring, Guillaume balance, micrometer regulator, silvered matte dial, applied baton numerals, outer beady minute divisions, gold feuille hands, subsidiary seconds, circular heavy case, snap on back, platinum Patek Philippe buckle, case, dial and movement signed 36 mm. diameter.

It great day for Patek Philippe as the top 10 lots was manufactured by the renown Swiss watch brand. This includes three other Pateks that sold for more than $1 million:

* An extremely rare, platinum chronograph wristwatch that sold for $1.6 million. One of three platinum examples ever made of this reference; it’s signed Patek Philippe & Co., Genève, ref. 1579, movement no. 867'005, case no. 645'566. Manufactured in 1946, the Calibre 13''' mechanical movement has 23 jewels, micrometer regulator, silvered matte dial, black enameled baton and applied gold Arabic numerals, Arabic five minute divisions, outer tachymetre scale, two subsidiary dials for constant seconds and 30 minutes register, large circular case, downturned angular or "spider" lugs, snap on back, and 18K white gold Patek Philippe buckle.

* An 18K gold World Time wristwatch with cloisonnè enamel dial depicting the Eastern hemisphere sold for more than $1.04 million. Signed Patek Philippe, Genève, ref. 1415 HU, movement no. 964'802, case no. 669'492. Manufactured in 1949, the calibre 12'''120 HU mechanical movement has 18 jewels, bimetallic compensation balance, micrometer regulator, polychrome cloisonné enamel dial depicting the map of Europe, Asia, Africa and Australia, applied gold baton and Roman numerals, gold hands, outer revolving ring depicting the diurnal and nocturnal hours on silvered and black background, circular case with revolving bezel engraved with the names of 41 cities in the world, teardrop lugs, and snap on back.

* An 18K pink gold chronograph wristwatch with two-tone silvered dial also sold for more than $1.04 million. Signed Patek Philippe, Genève, retailed by Gobbi, Milano, ref. 530, movement no. 868'800, case no. 514'608, it was manufactured in 1955. The Cal. 13''' mechanical movement stamped with the Geneva Seal, 23 jewels, two-tone silvered dial, applied pink gold baton and Arabic numerals, gold hands, outer railway five minute divisions and tachymetre scale, two subsidiary dials for constant seconds and 30 minutes register, large circular case, downturned lugs, snap on back, two rectangular chronograph buttons in the band, 18K pink gold buckle, case and movement signed by the maker, dial signed by the maker and the retailer.

Possibly the world's first chronograph. CHRISTIE'S IMAGES LTD. 2012

A timepiece of historical significance that was part of the auction was what may have been the first chronograph. It sold for $245,274. The “probably unique” and historically important inking chronograph with cylinder escapement, housed in mahogany box is signed Rieussec Horologer du Roi, Chronographe, Brevet d'Invention, circa 1821/22.

Nicolas Mathieu Rieussec is credited with inventing the chronograph on September 1, 1821.

The timepiece has a mechanical cylinder movement, plain three-arm balance, two revolving silvered dials on the front plate—the upper one for minutes, the lower one for seconds—both with fixed blued steel inking hand, brass button on the left side of the fausse-plaque activates the inking hand, brass button on the right starts and stops the movement, front plate signed. It measures 143 mm. long & 114 mm. wide not including the box.

This lot includes a note from Christie’s, which reads as follows:

It is very interesting to note that this historically important inking chronograph by Rieussec is not numbered, but instead inscribed "Chronographe, Brevet d'Invention". One may speculate for the reasons why Rieussec didn't number this superb piece, but one very logical explanation may be that this example here is the very one he used to obtain his patent.

Vaucher Fleurier 18K gold and enamel identical numbered, mirror-image pair of duplex watches. CHRISTIE'S IMAGES LTD. 2012

Another interesting item that received a great deal of interest was a set of two Vaucher, Fleurier 18K gold and enamel identical numbered, mirror-image pair of openface center seconds duplex watches with matching gold and enamel keys and fitted box, made for the Chinese market. It fetched $385,432, nearly triple its high estimate. Signed Vaucher, Fleurier, No. 160 & 160., circa 1830, it features mirror-polished and blued steel keywound duplex movements, bimetallic compensation balances with blued steel wedge-shaped weights, hinged gold cuvettes, white enamel dials, Roman numerals, gold spade hands, centre seconds, large circular cases, pink, light blue and translucent scarlet champlevé enamel floral decorated bezels, rims, pendants and bows, the backs decorated with finely painted, mirror-image polychrome enamel bouquet of flowers on mauve background.

All totaled, the auction held at the Four Seasons Hotel des Bergues, Geneva achieved more than $28.5 million in sales with 96 percent sold by lot and 97 percent sold by value. All prices realized for individual items and auction house totals include commissions.

“Today’s seven-hour marathon auction welcomed some 500 registrants from five continents, generating stellar sell-through rates as well as breaking numerous records,” said Aurel Bacs, International Head of Christie's Watch Department. “Collectors, public and private museums, the trade and also an investment watch fund, battled out the bidding for the best watches seen at auction this season, reconfirming.”

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Patek and Rolex Take Top Spots in Watch Auction

Patek Philippe ref. 2499 sold for $374,500

A Patek Philippe ref. 2499 led auction results by selling for $374,500 at Antiquorum's September auction of Important Modern & Vintage Timepieces. Made in 1976, the 18k yellow gold wristwatch with round button chronograph, perpetual calendar, and moon phases originated from the collection of professor Thomas Engel.

Patek Philippe Ref. 1436 sold for $284,500.

Other Patek Philippe timepieces that commanded high prices included a ref. 1436 split-second chronograph with transitional dial retailed by Tiffany, sold for $284,500; a ref. 3971 that sold for $116,500; and a ref. 5038, a limited edition white gold perpetual calendar, which fetched $56,250.

The September 14 auction in New York featured 319 collectable timepieces and took in nearly $2.8 million, with 78 percent sold by lot and 119 percent sold by value. It attracted 353 registered internet and phone bidders from around the world, including Hong Kong, China, Taiwan, the Russian Federation, the Netherlands, Canada and the United States.

Rolex ref. 6241 Daytona sold for $110,500

Popular modern and vintage Rolex watches also achieved important results as confirmed by the two examples of the Rolex ref. 6241 offered in the sale. An 18K yellow gold Paul Newman and a 14K yellow gold Daytona retailed by Tiffany & Co. both sold for $110,500.

Rolex Submariner ref. 6538 sold for $76,900

Rolex watches complete with box and papers sold well, including the Rolex Submariner ref. 6538, "James Bond" Big Crown with gilt dial, which sold for $76,900; the Rolex Ref. 1019, which sold for $45,000; and the Rolex. Ref. 1655, which fetched $21,875.

“The outcome for our September auction confirms that Rolex Sports watches continue to generate strong interest among collectors throughout the world,” said Evan Zimmermann, Antiquorum president and CEO.

Audemars Piguet Royal Oak 'City of Sails,' Ref. 25979 sold for $46,250

Perhaps in anticipation of the Audemars Piguet Royal Oak Anniversary in 2012, all Audemars Piguet Royal Oak watches sold well. The top lots included a Royal Oak Perpetual Calendar with anthracite dial, which attained $31,250, and the limited edition "City of Sails" which sold for $46,250.

Rare Patek Philippe Watches to Star in Antiquorum's September Auction

Patek Philippe Ref. 2499

Two Patek Philippe watches will share the starring role at the upcoming "Important Modern & Vintage Timepieces" auction by Antiquorum Auctioneers.

The September 14 event at the watch auctioneer’s New York headquarters will be led by a Patek Philippe ref. 2499 and an extremely rare and probably unique Patek Philippe Split-Second Chronograph Ref. 1436. In addition, the auction will feature two Rolexes, two Breguets, an Audemars Piguet and two more Pateks, among a diverse collection of modern and vintage timepieces. Previews will be held in Hong Kong, Shanghai, Singapore and New York.

The highlight of the sale is the Patek Philippe Ref. 2499, third series (top picture), originally from the collection of professor Thomas Engel. Made in 1976, this is an exceptional and extremely rare, 18k yellow gold wristwatch with round button chronograph, perpetual calendar, and moon phases. Auction estimate is $300,000 - $500,000.

Patek Philippe Ref. 1436

In addition, there's the Patek Philippe Ref. 1436 (above) made in 1960 and sold by Tiffany & Co. the following year. Antiquorum said the watch has remained in pristine, virtually new condition. The model, probably unique, is an 18k yellow gold wristwatch with transitional dial, square button co-axial split-seconds chronograph and tachometer. Auction estimate is $200,000 - $300,000

Other auction highlights include:

A Rolex Daytona, Ref. 6241 retailed by Tiffany & Co. Made circa 1967, it is a very fine and rare, water-resistant, 14k yellow gold wristwatch with round button chronograph, and anti-reflective black bezel. It is accompanied by a Rolex service invoice and guarantee dated June 21, 2011. Estimate: $40,000 - $60,000

A set of two Breguet Souscription watches made in the late 1990s. The set consists of: A platinum minute-repeating wristwatch with perpetual calendar, phases and age of the moon and leap year indication; and a platinum self-winding pocket watch with 45 hour power reserve indication, instantaneous calendar, phases and age of the moon. This set is accompanied by a fitted wooden winding box, 30 cm platinum chain, platinum magnifying glass and two platinum tools. Estimate: $120,000 - $140,000

A Patek Philippe Ref. 3971 very fine, astronomic, 18k yellow gold wristwatch with round button chronograph features a perpetual calendar and moon phases. It was made in 1989. Estimate: $80,000 - $100,000

 An International Watch Company B-Uhr World War II German Air Force (Luftwaffe), Ref. 431, request No. FL 23883. Made in 1940 for the German Air Force, it is an oversized, center seconds, anti-magnetic, anti-corrosion stainless steel military pilot's wristwatch with indirect seconds and a very long aviator's leather strap. This very rare and sought-after timepiece is accompanied by the certificate of origin and an IWC service warranty dated April 4th, 1989. Estimate: $40,000 - $60,000

A Rolex Submariner Ref. 6538 James Bond, "Big Crown" with gilt dial, made in 1956. This very rare, center seconds, self-winding, water resistant, stainless steel diver's wristwatch with a stainless steel Rolex expandable rivet bracelet is offered with original box, instructions and pamphlets with anchor, guarantee, pocket calendar, and service receipt dated July 21, 1981. Estimate: $35,000 - $65,000

A limited edition Patek Philippe Ref. 5038 self-winding 18k white gold wristwatch. It was made in a limited edition of 500 in 1996 and features a perpetual calendar and moon phases. It is offered with the original winding box, setting pin, limited series certificate, booklets and certificate of origin within a leather wallet. Estimate: $35,000 - $55,000

An Audemars Piguet Royal Oak “City of Sails,” Ref. 25979 made in a limited edition of 50 for the 30th Anniversary of the Royal Oak in 2003. It is dedicated to the "Alinghi" team, winner of the America's Cup in 2003. Estimate: $40,000 - $60,000

Patek Chrono Sells for $815,000 at Sotheby’s Geneva Auction

A Patek Philippe, ref. 2499, 18k yellow gold perpetual calendar chronograph watch sold for $815,637 Sunday during Sotheby’s Important Watches sale in Geneva. It was sold to a private U.S. collector.

All totaled, the auction held at the Hôtel Beau-Rivage took in $8.75 million, with 69 percent of the 280 lots offered sold by lot and 73 percent sold by value.

Other highlights of the auction after the jump:
 

 

A Greubel Forsey platinum double tourbillon wristwatch, no. 77, circa 2007, that sold for $341,495 to a European collector.

 A Patek Philippe: 18k yellow gold open-faced minute repeating perpetual calendar watch, ref 767. circa 1927. It sold for $273,761 to a private Swiss collector.

An extremely rare Rolex Daytona “Paul Newman” stainless steel chronograph wristwatch with registers and Bracelet, Circa 1967, Ref 6263. It sold for $233,120 to a private European collector.

Rare Clocks, a Reverso Anniversary Sale and Fine Watches at Antiquorum Geneva Auction

A Breguet silver carriage clock with 10 complications once owned by the Marquise de Béthisy is one of the top items on the block at the Antiquorum Geneva sale of “Important Modern and Vintage Timepieces,” to be held on May 15.

Breguet introduced his silver humpback carriage clocks—of which only a few were made—circa 1812. The present clock is the most complicated of the eleven Breguet humpback carriage clocks known to exist. It has a total of 10 complications: grande sonnerie striking; petite sonnerie striking; alarm; perpetual calendar; days of the week; date; months; years; moon phases; and equation of time. It is the only known example with a quadruple digital perpetual calendar. The clock was sold to the Marquise de Béthisy on May 6, 1678, Antiquorum said. Its presale estimate is $173,000 to $231,000.

Another exceptional clock at auction is the Vacheron & Constantin "30 Days, Constant Force." No. 418068, made in 1933. This Art Deco style-clock has a 30-day power reserve. It is furnished by two mainspring barrels, which Antiquorum says is very unusual in a clock of its size, or of any clock. One of the difficulties of long-duration clocks is that timekeeping is affected as the mainspring winds down. This problem is counteracted by the use of a constant force escapement, a unique instance for Vacheron & Constantin and almost certainly for the entire Art Deco period. Pres sale estimate is $81,000 to $139,000.

More than 500 vintage and modern timepieces, pocket watches, and, of course, clocks will be offered for sale at the auction, which will be held at Geneva's Mandarin Oriental. The auction will also celebrate the 80th Anniversary of the iconic Reverso watch with a selection of 30 Reversos, including original pieces from 1931, emblematic and ultra-rare versions with colored dials, limited series with complications, and watches with enamel-decorated case backs. Jaeger-LeCoultre is partnering this special "Reverso Chapter," and will provide an extract from its archives, free of charge, for each lot made prior to 1950.

The Reverso was created in 1931 for British army officers stationed in India who requested a watch that could survive a polo match. The swiveling case of the Art Deco-style watch protected the dial and offered a surface that, as of the 1930s, could be personalized by means of engraving or enamel.

The highlight of this “Reverso Chapter” is a very rare, early, and desirable Steel Reverso with red lacquered dial with a presale estimate of $5,775 to $9,200.

One of the very first models to bear the LeCoultre signature, a 1930's Staybrite watch with chocolate-colored dial is a classic Reverso watch with small seconds. Six others are featured in the sale, including a rare example made for the French market and bearing the Jaeger signature, and another watch from among the few that were destined exclusively for the American market (presale estimate, $5,778 to $9,200).

Among the modern Reverso wristwatches, the highlight is "Mucha's Four Seasons" No. 1/25, Ref. 276.1.62, a set of four enameled pieces introduced in the 1990s and made in a limited edition of 25 sets. On the back of each case is a painted enamel portrait of a woman symbolizing each of the four seasons by Miklos Merczel, the manufacture's enamel artist (presale estimate $70,000 to $92,000).

Also on the block is a Louis Audemars "Grande Complication - "La Russe II," No. 12199, that retailed by G. Aspe, Paris in 1896. This timepiece is one of the most important complicated watches of the 19th century, Antiquorum says, with double perpetual calendar for Julian and Gregorian calendars, as well as minute-repeating, two time zones, chronograph, central 60-minute register, moon phases, lunar calendar and "reference d'heure" world-time calculation chart functions (presale estimate $115,000 to $173,000).

Offered at auction for the first time, the Rolex "Oyster Perpetual Date, Explorer II," Ref. 1655, Spade of Oman, was made in 1974 and retailed by Asprey of London. It is one of the few Rolex watches to feature the "Spade of Oman" logo. These special watches, with case number engraved on the inside case back, were sold by Asprey, the official Rolex retailer in the Arab world. This model also bears the rare engraved "Asprey" name on the outside caseback (presale estimate $115,500 to $173,000).

Another Rolex on the block is the "Oyster Perpetual, Comex, 660ft./200 m, Superlative Chronometer, Officially Certified," Ref. 1665, Rail Dial. The 1980 watch is accompanied by its original guarantee, 1970s Submariner and Oyster booklets, hang tag, anchor and original fitted box, as well as a COMEX magazine and COMEX regulator (presale estimate $81,000 to $150,000).

 There are two Patek Philippe watches that should earn strong interest in the upcoming auction, according to Antiquorum.

The first is a Reference 130, with pink dial, confirmed by the extract from the archives. This "Staybrite" stainless steel wristwatch with square button chronograph, register and tachometer scale was made in 1941 and was sold on March 3, 1943. Its presale estimate is $173,000 to $231,000.

The second is a Reference 5970G, circa 2006. This 18k white gold wristwatch has a square-button chronograph, register, perpetual calendar, moon phases, 24 hour indication, and tachometer (presale estimate $115,000 to $173,000).