Prepared on May 16, 2016
Modified on October 18, 2020 before the Geneva sale
The improvement of telecommunication and transportation creates new needs. The invention of Louis Cottier allows to fit wristwatches with the Heures Universelles (HU) complication, World Time in English. The reading of the time in any of about 40 locations is direct and simultaneous.
Patek Philippe uses the Cottier application from 1937. The 2523HU is released in 1953. Its dual crown design enables to easily change the time reference when traveling. Here are two results including premium by Christie's for this reference : CHF 2.7M on November 15, 2010 and CHF 2.8M on May 14, 2012.
The 2523 is too expensive and some movements had been left unused at the factory. Its 2523/1 evolution launched in 1957 is an attempt to simplify the assembly by changing the design of the lugs.
Once more the customers do not follow and this variant also is extremely rare. A 2523/1 assembled in yellow gold in 1965 and sold by the brand in 1973 was sold by Christie's for CHF 1.12M including premium on May 16, 2016.
A 2523/1 in pink gold with guilloché dial assembled in 1966 with a 1954 movement was sold by the brand in 1973. Having resurfaced in time capsule condition, it was sold for HK$ 19.5M including premium by Phillips on May 31, 2016, lot 373. It is estimated CHF 2M for sale by Phillips in Geneva on November 6, 2020, lot 39.
SOLD for CHF 5M including premium
Modified on October 18, 2020 before the Geneva sale
The improvement of telecommunication and transportation creates new needs. The invention of Louis Cottier allows to fit wristwatches with the Heures Universelles (HU) complication, World Time in English. The reading of the time in any of about 40 locations is direct and simultaneous.
Patek Philippe uses the Cottier application from 1937. The 2523HU is released in 1953. Its dual crown design enables to easily change the time reference when traveling. Here are two results including premium by Christie's for this reference : CHF 2.7M on November 15, 2010 and CHF 2.8M on May 14, 2012.
The 2523 is too expensive and some movements had been left unused at the factory. Its 2523/1 evolution launched in 1957 is an attempt to simplify the assembly by changing the design of the lugs.
Once more the customers do not follow and this variant also is extremely rare. A 2523/1 assembled in yellow gold in 1965 and sold by the brand in 1973 was sold by Christie's for CHF 1.12M including premium on May 16, 2016.
A 2523/1 in pink gold with guilloché dial assembled in 1966 with a 1954 movement was sold by the brand in 1973. Having resurfaced in time capsule condition, it was sold for HK$ 19.5M including premium by Phillips on May 31, 2016, lot 373. It is estimated CHF 2M for sale by Phillips in Geneva on November 6, 2020, lot 39.
SOLD for CHF 5M including premium
HK - That's HK$16,300,000 for this previously unknown pink gold worldtime watch from #PatekPhilippe. #LiveAuction pic.twitter.com/vkSsSTQaj4
— PHILLIPS Watches (@phillipswatches) May 31, 2016
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