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

Create your first list.

Select an existing list or create a new list to share and manage lots you follow.

  • Manufacturer: Patek Philippe
    Year: 1957
    Reference No: 2526
    Movement No: 765’115
    Case No: 2’601’159
    Material: 18K yellow gold
    Calibre: Automatic, cal. 12-600 AT, 30 jewels
    Bracelet/Strap: Leather
    Clasp/Buckle: 18K yellow gold Patek Philippe pin buckle
    Dimensions: 35mm Diameter
    Signed: Case, dial, movement, and clasp signed. Dial and case additionally signed by the retailer.
    Accessories: Accompanied by Patek Philippe Extract from the Archives confirming production of the present watch in 1957 and its subsequent sale on September 12th, 1958.

  • Catalogue Essay

    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.

  • 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.

    View More Works

82

Ref. 2526
An elegant and extremely rare yellow gold wristwatch with luminous enamel dial and Extract from the Archives, retailed by Serpico & Laino

1957
35mm Diameter
Case, dial, movement, and clasp signed. Dial and case additionally signed by the retailer.

Estimate
$30,000 - 60,000 
CHF27,000-54,000
€27,700-55,500
HK$235,000-469,000
S$40,300-80,700

Sold for $57,150

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