Patek Philippe - The New York Watch Auction: NINE New York Saturday, December 9, 2023 | Phillips

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  • Manufacturer: Patek Philippe
    Year: 2001
    Reference No: 5070J-001
    Movement No: 3’146’787
    Case No: 4’090’654
    Material: 18K yellow gold
    Calibre: Manual, cal. 27-70 CHR, 24 jewels
    Bracelet/Strap: Crocodile
    Clasp/Buckle: 18K yellow gold Patek Philippe deployant clasp
    Dimensions: 42mm Diameter
    Signed: Case, dial, movement, and clasp signed.
    Accessories: Accompanied by undated Patek Philippe Certificate of Origin stamped by Spanish retailer Perodri Joyeros, product literature, leather folio, inner presentation box, and outer box. Further accompanied by Extract from the Archives confirming production of the present watch in 2001 and its subsequent sale on February 26, 2001.

  • Catalogue Essay

    The Patek Philippe reference 5070 was the first chronograph-only wristwatch released by the firm since the 1960s when production of the iconic water-resistant reference 1463 ceased.

    Introduced in 1998 at Basel, it was something of a shock to collectors that Patek would choose to reintroduce their chronograph-only line in such bold fashion – particularly the oversized 42mm case diameter and the dramatically thick, stepped bezel. First released in 18K yellow gold with a black dial, such as the present example, the manufacture drew inspiration for the design of the 5070 from a unique, split-seconds chronograph wristwatch from the early 1950s, the reference 2512.

    Later produced in white gold, rose gold, and platinum, the yellow gold reference 5070 was discontinued soon after its launch, yet is the most faithful to the original design inspiration, as it features the same yellow gold case material and black dial color. Even the applied yellow gold Arabic numerals echo the mirrored numerals on the reference 2512. The movement powering the 5070, the caliber 27-70, is based on the Lemania 2310 – significantly modified by Patek Philippe. It’s an ébauche that was famously used by Omega through the 1950s and ‘60s as the base for the caliber 321 inside the Speedmaster. In its current form as the caliber 27-70, it features a heavily modified escapement and exceptional finishing by Patek Philippe in their typical style and is stamped with the prestigious Geneva Seal.

    Accompanied by its original Certificate of Origin with visible hallmarks on the outer side of the lugs, this neo-vintage Patek Philippe chronograph retains an impressive aesthetic on the wrist, with watchmaking excellence within to back it up.

  • 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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Σ59

Ref. 5070J-001
A highly attractive, oversized, and desirable yellow gold chronograph wristwatch with Certificate of Origin and presentation box

2001
42mm Diameter
Case, dial, movement, and clasp signed.

Estimate
$40,000 - 80,000 
CHF36,000-72,100
€37,400-74,900
HK$312,000-625,000
S$54,300-109,000

Sold for $69,850

Contact Specialist

Paul Boutros
Deputy Chairman and 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: NINE

New York Auction 9 - 10 December 2023