Christie's Presents History Changing Patek Philippe Grand Complication On June 11 In New York
The earliest and most historically significant example of a Patek Philippe Grand Complication. Acquired in 1900 by one of the great business leaders of early 20th century America.
New York – On June 11, Christie’s New York will offer The Stephen S. Palmer Patek Philippe Grand Complication No. 97912 (pictured above; estimate: $1,000,000 – 1,500,000) as the highlight of the New York Important Watches auction.
This Patek Philippe Grand Complication 97912 is an 18K pink gold openface minute repeating perpetual calendar split-seconds chronograph clockwatch with grande and petite sonnerie and moon phases, manufactured in 1898. Never before seen in public, and for the first time ever on the THE STEPHEN S. PALMER Patek Philippe GRAND COMPLICATION NO. 97912. An exceptionally fine and highly important 18K pink gold openface minute repeating, perpetual calendar, split-seconds, chronograph, clockwatch with grande and petite sonnerie, and moon phases (front and back view).
Estimate : $1,000,000 – 1,500,000 auction block, The Stephen S. Palmer Patek Philippe Grand Complication No. 9791 will be unveiled in Christie’s Rockefeller Center saleroom marking an unprecedented occasion for collectors of the world’s finest timepieces.
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. Purchased October 3, 1900, for an impressive SFr. 6,500 by Stephen S. Palmer, the discovery of the Palmer Grand Complication is a spectacular addition to scholarship surrounding Patek Philippe and Grand Complications in general. 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.
Mr. Palmer, an avid connoisseur of watches, was already a distinguished client of Patek Philippe when he traveled to the firm’s Geneva factory in October 1990. Research of Palmer’s trip, including the Beau Rivage Hotel guest books, shows he not only came to collect his treasured Grand Complication but also confirms he picked up two other complicated timepieces. This Grand Complication remained in a vault in Palmer’s home, virtually untouched and is accompanied by original invoice and presentation box (pictured page three). It anticipates all other Grand Complications by a decade, standing as the most complete and crispest example of all Grand Complications known today.
Aurel Bacs, International Head of Watches, commented: “The Stephen S. Palmer Patek Philippe Grand Complication No. 97912 is the undisputed highlight of the spring 2013 worldwide watches auction season. Christie’s New York June sale will open a new chapter into the world of horology, presenting the world’s earliest, and most historically significant example of a Patek Philippe Grand Complication. Following the great success we saw at Christie’s New York this past December with the collection of Gordon Bethune, we are very proud to be entrusted to execute yet another exceptional auction, marking June 11 as treat for scholars, historians, and collectors with a passion for watches of uncompromised quality.”
STEPHEN S. PALMER (1853 – 1913)
A prominent industrialist, Stephen S. Palmer made his fortune during the Gilded Age when America’s economy was expanding into factory production, railways, mining and applied technology. In 1897, Palmer was appointed President of the New Jersey Zinc Company. As President, he created the Mutual Relief Association, which financially assisted employees and families in cases of medical issues and accidental death. Committed to education, Palmer engaged in building schools and encouraged the continued education of his workers.
A generous benefactor, Palmer was recognized with an award for distinguished service for providing zinc to the U.S. government during World War I. He and Cornelius Vanderbilt were Directors of Lackawanna Steel Company and key figures in connecting the Williamsburg Bridge with the rooklyn Bridge and South Ferry. Recognized for his influence and knowledge, he served as a Trustee of Princeton University from 1908 – 1913. For most of his life, Palmer lived in New York at 12 East 81st Street before retiring to Princeton, New Jersey.