Patek Philippe - The Geneva Watch Auction: XIX featuring the Guido Mondani Collection Geneva Saturday, May 11, 2024 | Phillips
  • Manufacturer: Patek Philippe
    Year: 1960
    Reference No: 2577
    Movement No: 749'786
    Case No: 699'571
    Material: 18K yellow gold
    Calibre: Manual, cal. 10-200, 18 jewels, stamped twice with the Geneva Seal
    Bracelet/Strap: Leather
    Clasp/Buckle: Gilt tang buckle
    Dimensions: 35mm Diameter
    Signed: Case, dial and movement signed
    Accessories: Accompanied by Patek Philippe Extract from the Archives confirming production of the present watch in 1959 and its subsequent sale on June 14, 1960, and fitted Patek Philippe box.

  • Catalogue Essay

    Elusive, incredibly well-preserved and surprising provenance make the present, fresh-to-the-market Patek Philippe reference 2577, recently purchased from the family of the original owner, a true grail.

    When associating the words Patek Philippe and grand feu enamel dial the automatic reference 2526 and its successor the reference 3428 immediately come to mind. However, reference 2577 launched in 1956 is also part of this elite circle and much rarer than its peers. In fact it is so rare that previously only 5 examples in yellow gold have graced the auction market. The present lot being the sixth.

    The desirability of the present watch hits new heights thanks its incredible state of preservation, the egg shell enamel dial is free of fissures and cracks and the case maintains its original brushed and polished surfaces with crisp bevels to the lugs.

    Unlike the references 2526 and 3428 housed in rather classical Calatrava style cases, the present model with its faceted “spider lugs” is audacious and unashamed which together with the beautiful, delicate and unharmed cream grand feu enamel dial with gilt Patek Philippe signature create a watch of incredible equilibrium and appeal.

    The case back reveals the surprising provenance of the timepiece, engraved on it are the following words translated from Serbo-Croatian: “To comrade Army General / Ivan Gosnjak on the occasion of his 60th birthday / DSNO (State Secretariat for National Defense)."

    General Ivan Gošnjak was a Yugoslavian military leader having served under Tito. As a Spanish civil war veteran, he was given command of all Croatian Partisan units, regrouped in the 4th (Croatian) Corps, in 1943. Gošnjak was appointed as deputy commander-in-chief at the end of the war, a post which he held until 1950, and in 1953 Gošnjak became Defence Minister, a post which he held untill 1967.

    The present fresh-to-the-market reference 2577 was property of General Gošnjak’s family until recently and its ultimate rarity and state of preservation make it a must have for any collector.

  • Artist Biography

    Patek Philippe

    Swiss • 1839

    Since its founding in 1839, this famous Geneva-based firm has been surprising its clientele with superbly crafted timepieces fitted with watchmaking's most prestigious complications. Traditional and conservative designs are found across Patek Philippe's watches made throughout their history — the utmost in understated elegance.

    Well-known for the Graves Supercomplication — a highly complicated pocket watch that was the world’s most complicated watch for 50 years — this family-owned brand has earned a reputation of excellence around the world. Patek's complicated vintage watches hold the highest number of world records for results achieved at auction compared with any other brand. For collectors, key models include the reference 1518, the world's first serially produced perpetual calendar chronograph, and its successor, the reference 2499. Other famous models include perpetual calendars such as the ref. 1526, ref. 3448 and 3450, chronographs such as the reference 130, 530 and 1463, as well as reference 1436 and 1563 split seconds chronographs. Patek is also well-known for their classically styled, time-only "Calatrava" dress watches, and the "Nautilus," an iconic luxury sports watch first introduced in 1976 as the reference 3700 that is still in production today.

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Ref. 2577
An incredibly scarce and bewildering yellow gold wristwatch with enamel dial

35mm Diameter
Case, dial and movement signed

CHF35,000 - 70,000 

Sold for CHF114,300

Contact Specialist

Alexandre Ghotbi
Deputy Chairman, Watches, Head of Watches, Europe, and Middle East

+41 79 637 17 24

Tiffany To
Head of Sale, Geneva

+41 79 460 55 88

The Geneva Watch Auction: XIX featuring the Guido Mondani Collection

Geneva Auction 11 - 12 May 2024