Patek Philippe - The Hong Kong Watch Auction: XV Hong Kong Monday, November 28, 2022 | Phillips

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  • Manufacturer: Patek Philippe
    Year: Circa 2014
    Reference No: 5959P-011
    Movement No: 5’251’020
    Case No: 4’492’894
    Material: Platinum
    Calibre: Manual, cal. CHR 27-525 PS, 27 jewels
    Bracelet/Strap: Crocodile
    Clasp/Buckle: Platinum Patek Philippe pin buckle
    Dimensions: 33mm diameter
    Signed: Case, dial, movement and buckle signed
    Accessories: Accompanied by Patek Philippe Certificate of Origin stamped Hausmann e Cs.r.l. Roma dated 28th March 2014, instruction manual, product, literature, photograph, leather portfolio, folio, outer packaging and fitted presentation box.

  • Catalogue Essay

    Since the 1920s, Patek Philippe has been manufacturing some of the world’s most prized and important chronograph wristwatches. With their first serially produced chronograph being the ref.130 released in 1936, it was however not their first chronograph ever produced. In the 1920s, the firm upon a request of a loyal client created a piece unique split-seconds chronograph wristwatch featuring a round-shaped case with thin screwed lugs and a hinged officer’s caseback. Measuring 33mm in diameter, the mono-pusher split-seconds chronograph featured a white enamel dial with black painted Breguet numerals. With the start of the project in 1903, the watch was finally completed and delivered in 1923. This was also the earliest known split-seconds chronograph wristwatch by any manufacturer.

    Paying homage to the important unique example from 1923, Patek Philippe introduced the ref. 5959 in 2005, a true reedition of the original example. Cased in a 33mm diameter platinum case in the same style with screwed lugs, the ref. 5959 omitted the hinged officer’s caseback and opted for a sapphire display caseback proudly showcasing the firm’s first ever in-house split-seconds chronograph cal. CH 27-525 PS featuring an extra-flat column wheel with only a thickness of 5.25mm, a world record at the time. Initially launched in platinum with a white lacquered dial with black Breguet numerals, a variant with a black dial was released in 2008. A rare pink gold iteration was released thereafter with a black dial and gilt Breguet numerals with only 5 examples ever made. While it is believed that most examples were fitted with a white dial throughout the course of its production before it was discontinued in 2018, only a fraction were produced with a black dial with no more than a handful resurfaced back into the market since. It is estimated that less than 100 examples of the reference were produced.

    The present example Patek Philippe ref. 5959 in platinum from circa 2014 with the rare and elusive black dial is the second example to be offered at a PHILLIPS auction. Complete with its full set of accessories, it is a rare occasion to come across the present reference in the wild. Cherished, adored and praised by esteemed connoisseurs of Patek Philippe, the ref. 5959 will surely go down in history as one of the most elegant, beautiful and important split-seconds chronograph references in the lineage of the firm.

  • 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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Σ ✱1070

Ref. 5959P-011
A very fine, elegant and rare platinum single-button split-seconds chronograph wristwatch with black lacquer dial, Breguet numerals, Certificate of Origin and presentation box

Circa 2014
33mm diameter
Case, dial, movement and buckle signed

Estimate
HK$1,600,000 - 2,700,000 
€209,000-353,000
$205,000-346,000

Sold for HK$2,016,000

Contact Specialist

Thomas Perazzi
Head of Watches, Asia
+852 2318 2031
[email protected]

The Hong Kong Watch Auction: XV

28 - 29 November 2022 (Online Registration ends 27 Nov, 2pm HKT)