Patek Philippe - The New York Watch Auction: EIGHT New York Saturday, June 10, 2023 | Phillips

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  • Manufacturer: Patek Philippe
    Year: Circa 2022
    Reference No: 5531R-012
    Movement No: 5’178’006
    Case No: 6’558’690
    Material: 18K pink gold
    Calibre: Automatic, cal. R 27 HU, 45 jewels, stamped with the Patek Philippe Seal
    Bracelet/Strap: Crocodile
    Clasp/Buckle: 18K pink gold Patek Philippe deployant clasp
    Dimensions: 42mm Diameter
    Signed: Case, dial, movement and clasp signed
    Accessories: Accompanied by Patek Philippe Certificate of Origin dated September 9, 2022, fitted wooden presentation box, additional solid caseback, leather folder with photographs and product literature and outer packaging.

  • Catalogue Essay

    Patek Philippe has long been cherished by collectors for their innovative technical skills and mechanical craftsmanship, and with the release of the reference 5531R in 2017 at the New York “The Art of Watches Grand Exhibition “ they combined two of their most exceptional complications: the world-time and minute repeater. These special edition wristwatches were produced in a limited edition of five with a cloisonné enamel center featuring the Manhattan skyline by day, and a second set of five with cloisonné enamel center with the Manhattan skyline by night. The present wristwatch is the model introduced as part of Patek Philippe’s official collection in 2018 with an enamel dial depicting the Lavaux Vineyard Terraces, a UNESCO Heritage site, on the shores of Lake Geneva.

    The reference 5531R represents the culmination of Patek Philippe’s centuries-long horological excellence. Its world time mechanism was originally developed by watchmaker Louis Cottier in the 1930s when intercontinental travel was becoming commonplace. The first serially produced world time model, reference 1415, featured a 31mm diameter case with a revolutionary revolving bezel, allowing user-friendly change of time zone. Soon afterwards, Patek Philippe released the milestone reference 2523 with an oversized 36 mm case featuring two crowns. On very rare occasion, examples of the historic references 1415 and 2523 were made featuring cloisonné enamel dial centers with maps of the world incorporated within their city rings – serving as the inspiration for the modern reference 5531R.
    The case of this modern marvel is based on the iconic Calatrava model, which has its roots in the reference 96 first produced in the 1930s. The case band is engraved with a hand-guilloché hobnail design, and features the minute repeating slide at the 9 o’clock position of the case, with the setting crown at 3 o’clock, along with a push button to set the local city.

    The reference 5531R is based on the in-house, caliber R27 HU with minute repeating function, first introduced in 1989 for the brand’s 150th anniversary. The modified movement has the world time (HU) mechanism built on top of the minute repeater, and is only 8.5mm thick, allowing for a remarkably thin profile on the wrist. The result of painstaking development, the most complex challenge solved by Patek Philippe was to have the watch chime on the local time of the city displayed at 12 o’clock. This was achieved by incorporating an hour snail that is driven by the world time mechanism.

    Patek Philippe has always been at the forefront of technical innovation, and their reference 5531R is an example of the genius of their design and watchmaking teams. This fresh-to-the-market, minute repeating world time with cloisonné enamel dial is the height of luxury and complication. It is both a work of art and a functional time piece and is one of only a handful of examples ever offered at auction. Presented in brand new, unworn condition it is offered complete with its full set of accessories.

  • 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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Σ30

Ref. 5531R-012
A brand new, exquisite, and very important pink gold minute repeating world time wristwatch with miniature cloisonné enamel dial, additional caseback, Certificate of Origin and presentation box

Circa 2022
42mm Diameter
Case, dial, movement and clasp signed

Estimate
$900,000 - 1,800,000 
CHF816,000-1,630,000
€841,000-1,680,000
HK$7,060,000-14,120,000
S$1,210,000-2,430,000

Sold for $1,016,000

Contact Specialist

Paul Boutros
Head of Watches, Americas
+1 (212) 940-1293
WatchesNY@Phillips.com
 
Isabella Proia
Head of Sale, New York
+1 (212) 940 1285
iproia@phillips.com

The New York Watch Auction: EIGHT

New York Auction 10 - 11 June 2023