Patek Philippe’s first automatic wristwatch, the legendary reference 2526, was introduced to the market in 1953 and set the standard for a timeless and elegant case design. Reference 2526 was launched with the celebrated caliber 12-600 AT - Patek Philippe’s first automatic movement, considered by many to be the most beautiful self-winding movement made by any manufacturer. Created in yellow, pink, and white gold, as well as platinum, the 35.5mm diameter Baumgartner-fabricated case was oversized for the era.

The 12-600 AT is still considered to this day, to be one of the best automatic movements ever created. This is due to the fact that Patek Philippe, like all other manufacturers, was not able to produce an automatic movement with a 360-degree rotor until Rolex’s patent expired. Rather than spending time on less optimal solutions (bumper rotors, hinged-lugs winding, etc.), Patek Philippe focused its R&D on the cal. 12-600 for over two decades, waiting for the patent to expire.

Caracas-based, Venezuelan retailer Serpico & Laino begins its history in the 1930s, a result of the partnership of two Italian immigrants to Venezuela, Vincenzo Laino and Leopoldo Serpico. While Serpico was the industrial power behind the brand, Laino was the connossieur, having previously been a goldsmith in his native Basilicata. It was Laino, with Serpico’s encouragement, who negotiated first a partnership with Rolex, and then presumably, with Patek Philippe. World War II caused heartbreak when Leopoldo Serpico was killed in action, and Laino shouldered the burden of running the burgeoning business, which he did admirably, assisted by his wife and the sister of Serpico. In 1966, Serpico & Laino shuttered its windows due to political instability and the death of Laino in 1959.

Further adding to the excellence and rarity of this third series ref. 2526, it features the retailer signature “Serpico Y Laino” not only printed on the dial, but also engraved on the caseback. Though most 2526s sold by the Venezuelan retailer were cased in pink gold, this particular example is cased in yellow gold. Its twice-baked enamel dial additionally features luminous indexes and hands – a very rare and sought after feature. The third series retains the same exact dial as the second series, but with a noticeably flatter caseback. This combination of luminous indexes, third series, and Serpico & Laino signature has only appeared in two examples seen publicly, including the present lot.