1. Patek Philippe Ref. 1518
An extremely rare, highly attractive and historically important stainless steel perpetual calendar chronograph wristwatch with moon phases, applied arabic hour markers, tachymeter scale and bracelet
Sold for 11,002,000 CHF
Considered the ne plus ultra watch of the 20th century, we presented the mythical stainless steel Patek Philippe reference 1518 as part of a trilogy of ref. 1518s in our Geneva Watch Auction: FOUR on 12-13 November. A historical model produced from the 1940s to the 1950s, the reference 1518 was a state-of-the-art breakthrough when introduced, as it was the first perpetual calendar chronograph wristwatch ever manufactured in series by any brand. While a total of 281 were made, the vast majority of those were in yellow gold, and far fewer in pink gold; however, only four are known to have been made in stainless steel, and this particular watch was the last of the four to ever come to auction.
With its classic style, elegance and innovation, owning a stainless steel ref. 1518 is considered the ultimate summit for collectors. This past November, that summit was achieved by a collector who won a 13-minute bidding war scaling higher than 11 million Swiss Francs. The incredible result — a new world record for a wristwatch of any kind at auction — cements Patek Philippe's lofty status as leader in high-end Swiss watchmaking.
2. Patek Philippe Ref. 2499
A very fine, incredibly rare and possibly unique pink gold perpetual calendar chronograph wristwatch with moon phases
Sold for 19,720,000 HKD
From our Hong Kong Watch Auction: TWO in May of last year, this potentially unique Patek Philippe features a 'flat' dial where there is no indentation to complete the circle in the moon phase aperture: no other ref. 2499, third series, cased in pink gold has such a dial. First introduced in 1950, the reference was only made in a total of 349 pieces. This particular watch is one of six known examples of the third series pink, whereas there are seven known pink gold examples from the first and nine from the second. Given their extreme rarity and desirability, experts and collectors anticipate that it could be decades before one of the other five known third series pink is offered on the market.
With a dial in a rich, warm ivory tone and unspoiled condition, this ref. 2499 from our spring Hong Kong sale achieved a record for the highest result for any wristwatch sold at auction in Asia.
3. Patek Philippe Ref. 2523/1
An extremely fine, highly important and previously unknown pink gold worldtime wristwatch with two crowns and two-tone dial
Sold for 19,496,000 HKD
Also from our May auction in Hong Kong, the above Patek Philippe additionally sold for more than 19,000,000 HKD. In exceptional and unpolished condition, this pink gold 2523/1 is the second known example to have been offered at auction. Sold at auction a staggering 18 years ago, the watch achieved a record-breaking price of $665,000 USD — by last spring, its value had soared to a price more akin to $2.5 million USD.
Originally introduced to the market in the early 1950s, the Double Crown World Time was not a commercial success. As a result, very few pieces were ever manufactured and sold. Unlike the reference 2523 variation, the ref. 2523/1 has a larger diameter case and slightly thinner lugs that do not sit above the bezel. Master watchmaker Louis Cottier introduced the World Time system in 1935, allowing such watchmakers as Patek Philippe, Rolex and Vacheron Constantin to fit their dials with two discs and grant wearers the ability to view and compare multiple time zones simultaneously. (Patek Philippe is particularly renowned for its gifted and intricate designs, many of which feature beautifully crafted enamel maps of Asia, Americas, Oceana or Europe.) However, at the time of its release in 1953, the ref. 2523 looked incredibly unusual with its large case size and two crowns and was not well-received by the public. It was also more expensive and laborious to produce, which has made the existing examples even more sought-after by collectors in recent years.
To our knowledge, there are only three pink gold examples in existence, with one example proudly displayed in the Patek Philippe museum.
Twice that evening, Phillips Watches broke its own world record for any Rolex watch sold at auction.
4. Rolex Antimagnetique
An extremely rare, oversized and important stainless steel split-seconds chronograph wristwatch with silvered matte dial, pink gold raised Arabic and baton hour markers, outer blue telemeter and black tachometer scales
Sold for 2,405,000 CHF
Whenever the Rolex stainless steel reference 4113 split-seconds chronograph has appeared at auction, it has always been a sensational horological event. Scholarship tells us only twelve examples of reference 4113 were manufactured, and all were encased in stainless steel.
Interestingly, Rolex never offered this model directly to the public for sale. Rolex had been active in sponsoring racing events, and this timepiece was presented to a vetted selection of racing teams and their drivers. (Rolex was also closely associated with motor sports, and even sponsored Sir Malcolm Campbell, who made history while wearing a Rolex on his wrist during a competition.) Some watches of the 4113 series have found their way to auction from descendants of team managers and racing drivers. For collectors, reference 4113 is considered the ultimate top-of-the-line Rolex.
It's mesmerizing to stare at such a charismatic dial, as seen on this lot from last May's white-glove START-STOP-RESET sale of 88 'epic' chronographs in Geneva, and consider how impressively it has retained its condition.
The piece sold for 2,405,000 CHF. Twice that evening, we broke our own world record for any Rolex watch sold at auction.
5. Rolex Ref. 6263 'Tropical Oyster Sotto'
An extremely rare and highly attractive stainless steel chronograph wristwatch with 'tropical' Paul Newman dial, tachometer bezel, outer red 1/5 seconds division track and bracelet
Sold for 1,985,000 CHF
Also from our thematic START-STOP-RESET sale, the Rolex Cosmograph Daytona Paul Newman "Oyster Sotto," a dream watch for collectors around the world, stole the spotlight when it sold for 1,985,000 CHF. Of all the different variants, styles and configurations of Rolex's iconic Daytona model, the Oyster Sotto is the pinnacle, positioned at the very top of the hierarchical tree in terms of prestige, desirability and rarity.
Formerly a highlight of one of the world's most important private collections, this reference 6263 offered last May is one of only two such known Tropical "Oyster Sotto," having aged to a gorgeous and uniform shade of chocolate brown — making it arguably the world's most important Rolex Paul Newman Daytona ever offered for auction. The model is recognizable for its Art Deco-style Arabic numerals and squared markers found in the subsidiary dials; it acquired its charming Italian nickname of "Oyster Sotto," which translates to "Oyster Underneath," due to the placement of the "Oyster" designation beneath the word "Cosmograph" at 12 o'clock.
6. Patek Philippe Ref. 2499
An extremely rare and highly important yellow gold perpetual calendar chronograph wristwatch with moon phases and applied Arabic numerals
Sold for 1,685,000 CHF
In the history of watchmaking there are timepieces which have become immediately identifiable with their maker, and the perpetual calendar chronograph wristwatch is unmistakably part of Patek Philippe's genetic code. In 1951, the reference 2499 replaced 1941's reference 1518 and was made in four different series over the course of 34 years. Only about nine reference 2499 models left the Patek Philippe ateliers each year, leading to a full production of just 349 pieces.
There are collectible wristwatches and then there are watches woven from the fabric of dreams, and our ref. 2499, featuring a case in superb quality, crisp hallmarks on the lugs and a dial with a harmonious cream glow, from last May in Geneva represents the latter.
7. Patek Philippe Ref. 1518
An extremely rare, highly attractive and historically important pink gold perpetual calendar chronograph wristwatch with moon phases and tachymeter scale, presented to H.H. Windsor Jr.
Sold for 1,474,000 CHF
A companion to our record-breaking stainless steel Patek Philippe ref. 1518, the same reference in pink gold — also regarded highly for its historical importance and rarity in this particular metal — sold in November's Geneva Watch Auction: FOUR. While only four are known to have been made in stainless steel, scholarship suggests that 34 of the total 281 pieces are known to the market in pink gold.
The rarity, exclusivity and pristine condition of the watch were further enhanced by its unprecedented provenance: H.H. Windsor Jr. (1898-1965) was the son of the founder of Popular Mechanics magazine and an avid watch collector. H.H. Windsor Jr. became editor and publisher of the magazine at the age of 26, following his father's death in 1924, and increased the magazine's circulation to 2 million prior to its purchase by the Hearst Corporation in 1958.
8. Patek Philippe Ref. 530 "Calatrava"
A probably unique, highly attractive and large stainless steel wristwatch with black lacquer dial and applied Breguet numerals
Sold for 1,445,000 CHF
Outside the world of complicated watches, it can be stated without exaggeration that the above reference 530 in stainless steel is one of the world's most beautiful and exclusive watches one can hope to obtain. Its rarity speaks volumes, as this example is fitted with a black dial adorned with Breguet numerals, and represents the only one of its kind to exist in the world. This watch is the definition of unique.
The mirror-polished silver print along the outer minute track and Patek Philippe signature matches perfectly with the hour markers. The flawless dial and case's remarkable overall state of preservation is not only visually striking, but has aged in the sophisticated manner that it deserves. This watch has graced the world's most important and prestigious private collections with its presence, where it has remained in pristine, virtually unworn condition. Given the watch's supreme importance, it should come as no surprise that our opinion has also been echoed by John Goldberger in his book, Patek Philippe Steel Watches. During our Geneva Watch Auction: THREE, this handsome watch fetched an impressive 1,445,000 CHF, a world record for the highest result achieved at auction for a "time-only" wristwatch in stainless steel.
9. Patek Philippe Ref. 2419
A historically important and unique yellow gold minute repeating wristwatch with oversized subsidiary seconds, repeating trigger and crown, blackened hands and numerals and Cartier certificate, retailed by Cartier
Sold for 9,800,000 HKD
This vintage minute repeating wristwatch was manufactured in 1948 and sold in 1950. Among the many aspects that render this watch incredibly important are its dial configuration, oversized subsidiary seconds and unique case design with long downturned lugs and oversized minute repeating trigger — together with a huge oversized crown. The resulting look is quite unforgettable, producing one of our top results in 2016 in Hong Kong.
This particular watch was also retailed by Cartier and came with a Cartier certificate: The famous jeweler was founded in 1847 and retailed Patek Philippe up until the late 1960s.
10. Patek Philippe Ref. 3974
A possibly unique, most attractive, and important yellow gold minute repeating perpetual calendar wristwatch with phases of the moon, black lacquer dial and applied Breguet numerals
Sold for 1,181,000 CHF
A milestone in the history of Grand Complication timepieces, the reference 3974 was launched in 1989 to celebrate Patek Philippe's 150th anniversary. A self-winding watch that features a minute repeater, a perpetual calendar, 24-hour indication and phases of the moon, it was the world's most complicated wristwatch when launched.
The movement beating in the heart of this masterpiece is Patek's caliber 27RQ comprised of 467 components and coming in at a mere thickness of 6.80 mm. Another surprising feature is the micro-rotor, not only providing an unobtrusive view into the superbly finished movement but also making the reference 3974 the first automatic winding minute repeater ever made.
Our Geneva Watch Auction: FIVE will be presented on 13-14 May and the Hong Kong Watch Auction: FOUR will take place on 30 May. Learn more about valuations and consignments from our Phillips Watches specialists.