Vintage & Auctions
Expect Peak Performance from Patek Philippe at the November Watch Auctions in Geneva
Several Patek Philippe wristwatches are expected to break the million-dollar mark at this month’s premier watch auctions in Geneva.
By Laurie Kahle
Contributor
For decades, Patek Philippe has been a dominant force in the auction market, racking up record after record. According to EveryWatch’s fall global watch market analysis, the Geneva stalwart captured four of the top five lots sold at auction in September.
Unsurprisingly, fans of the brand can expect nothing less from this month’s sales in Geneva.
Sotheby’s
With a catalog of 31 outstanding pieces from a prestigious private collection spanning more than a century of horological history, few auctions have the Patek Philippe firepower of Sotheby’s Treasures of Time on November 10th (this dedicated single-owner sale will be followed up by Sotheby’s flagship Important Watches sale on November 15th).
The event, with a total sales estimate between $10 million and $22 million, includes an impressive array of 20 Patek Philippe lots, including the headliner: a 1950 pink gold “First Series” Ref. 2499 perpetual calendar chronograph with a moonphase indication and, most importantly, a Wenger case (37.5mm) estimated to sell between CHF 2.5 million and CHF 5 million.
It may sound like a small detail, but the significance of this piece having a Wenger case, with its larger dimensions and sculptural lugs, instead of the more common Vichet case, cannot be understated. From the lot description: “Two other pink gold First Series 2499 with Wenger cases are known to exist, but they remain in private collections, making this the only one publicly available.”
Additional pieces expected to fetch seven figures include a possibly unique 1947 yellow gold Ref. 1563 split-second chronograph and a 1948 pink gold Ref. 1518 perpetual calendar chronograph, both of which are estimated to sell between CHF 1 million and CHF 3 million.
“It’s not often that you can offer in one sale, from the same owner, references as prestigious as the Patek Philippe 1563 or one of the brand’s 2499s from the 1950s first series, along with many others,” said Mikael Wallhagen, Head of Watches at Sotheby’s Geneva, in a press release.
Phillips
At Phillips’ two Geneva sales this month, a handful of exceedingly rare Pateks are expected to reach or exceed the million-dollar mark. First up is a 37.5mm Ref. 2499/100 yellow gold perpetual calendar with a chronograph and a moonphase that is estimated to sell for between $581,000 and $1.160 million at the Geneva Watch Auction: XX on November 9th and 10th.
Designated as “new old stock,” this pristine piece has never been worn and remains in the same condition as when it left the brand’s workshops in 1980. “It is, most likely, the very best example of the reference in the world,” commented Paul Boutros, Phillips’ Deputy Chairman and Head of Watches, Americas.
The highlight of Reloaded: The Rebirth of Mechanical Watchmaking, 1980-1999 sale on November 8th is a 36mm white gold Ref. 3974 from circa 1989 with a minute repeater and perpetual calendar that is expected to sell for $700,000 to $1.4 million.
Created to celebrate Patek Philippe’s 150th anniversary and considered to be one of the rarest modern Pateks, as there are only five known examples made of white gold, the Ref. 3974 was not only the world’s most complicated wristwatch when it launched in 1989, but it was also the first automatic winding minute repeater ever made, making it also one of the most important modern Patek models.
Christie’s
At Christie’s, the Rare Watches Including Watches for ELA sale on November 11th features 44 Patek Philippe lots with two pieces estimated to sell for as high as a half-million dollars.
A particularly interesting piece with an estimate of CHF 250,000 to CHF 500,000, this 37.5mm yellow gold Ref. 2499⁄100 produced in 1981 features a perpetual calendar chronograph with a tachymeter scale, making it a Fourth Series specimen of the coveted reference.
The Fourth Series was produced from 1975 until 1988 as the final version of the Ref. 2499. Only five examples of the 2499/100J with tachymeter scales are known, and this piece is the earliest of only two known specimens with a “Mark 1” case made by Wenger.
The second top lot, estimated to sell between CHF 300,000 and CHF 500,000, is a possibly unique 35.1mm yellow gold Ref. 1491 that was commissioned by a client in 1942. Produced between 1940 and 1965, the Ref. 1491 was a time-only model with either a small or sweep seconds, making this lot the only known Ref. 1491 to have a chronograph function.
That alone would make this a hot lot, but because the additional function changed the dimensions of the movement, this piece’s case and dial (with its oversized 30-minute register) are also custom-made.
Antiquorum
Last but not least, at Antiquorum’s Important Modern & Vintage Timepieces sale from November 6th to November 10th, the Patek star of the show is Lot 672 with a starting bid of CHF 350,000 and a high estimate of CHF 450,000.
The Ref. 5074R-001 from circa 2009 combines a perpetual calendar and a cathedral gong minute repeater with a moonphase and a 24-hour indicator in a 42mm pink gold case with a high-contrast black dial.
“It’s probably the most attractive of all 5074’s featuring an oversized pink gold case with black dial, combining some of the favorite complications – a perpetual calendar with a cathedral gong minute repeater,” said Julien Schaerer, watch expert and Antiquorum’s Managing Director.
Happy Bidding!