PATEK PHILIPPE from 1945 to 1980 (perimeter of the page to be modified for creating a Perpetual Calendar page)
1945 Reference 1436 in Stainless Steel
2015 SOLD for CHF 3.3M by Phillips
We duly associate luxury watches and precious metals. The watches of the most prestigious models made of stainless steel are highly rare. They were made on special order or to an experimental reason, and examples are known where an owner replaced the original case by gold.
Lovers of exceptional watches must consider that there is no known steel watch in the 2499 and world time models. On May 10, 2015, Phillips sold for CHF 4.6M a Patek Philippe 130 made of steel in 1927.
On November 7, 2015, Phillips sold a Patek Philippe 1436 made of stainless steel in 1945 for CHF 3.3M from a lower estimate of CHF 1.5M, lot 169. This split-chronograph model was a significant technological advance. Only one other steel example is surviving.
This watch, still in an as new condition, has probably never been used after leaving the factory. Its movement has clearly never been dismantled.
Lovers of exceptional watches must consider that there is no known steel watch in the 2499 and world time models. On May 10, 2015, Phillips sold for CHF 4.6M a Patek Philippe 130 made of steel in 1927.
On November 7, 2015, Phillips sold a Patek Philippe 1436 made of stainless steel in 1945 for CHF 3.3M from a lower estimate of CHF 1.5M, lot 169. This split-chronograph model was a significant technological advance. Only one other steel example is surviving.
This watch, still in an as new condition, has probably never been used after leaving the factory. Its movement has clearly never been dismantled.
1948-1952 An Observatory Chronometer
2012 SOLD for CHF 3.8M by Christie's
The continuous improvement of Patek Philippe watches is based on two complementary incentives : meeting the specifications of the observatories and paying attention to the requirements of the most demanding customers.
A wristwatch for sale on November 12, 2012 by Christie's is resulting from these two trends which of course were in no way incompatible.
Its movement is a chronometer watch made in 1948 to participate in the competition of trials of the Astronomical Observatory of Geneva, in the category of diameters smaller than 30 mm compatible with wristwatch cases.
The technical difficulty of this achievement has led the manufacturer to use a Guillaume balance, so named from the Swiss inventor who won a Nobel Prize for his work on new alloys for the needs of precision instruments.
The collector came four years later, in 1952. In the following of the great pre-war customers like Packard and Graves, this Texan lawyer named Champion wanted an astronomical wristwatch in a luxury case.
Patek Philippe then agreed to provide him with the 1948 movement after assembling it in a case similar to the 2458 model but made in platinum. The dial indicates both the reference to the Observatory and the statement that this piece was made specially for JB Champion.
This exceptional and unique watch is accompanied with a replacement dial and a platinum bracelet. It was sold for CHF 3.8M from a lower estimate of CHF 2M, lot 88.
A wristwatch for sale on November 12, 2012 by Christie's is resulting from these two trends which of course were in no way incompatible.
Its movement is a chronometer watch made in 1948 to participate in the competition of trials of the Astronomical Observatory of Geneva, in the category of diameters smaller than 30 mm compatible with wristwatch cases.
The technical difficulty of this achievement has led the manufacturer to use a Guillaume balance, so named from the Swiss inventor who won a Nobel Prize for his work on new alloys for the needs of precision instruments.
The collector came four years later, in 1952. In the following of the great pre-war customers like Packard and Graves, this Texan lawyer named Champion wanted an astronomical wristwatch in a luxury case.
Patek Philippe then agreed to provide him with the 1948 movement after assembling it in a case similar to the 2458 model but made in platinum. The dial indicates both the reference to the Observatory and the statement that this piece was made specially for JB Champion.
This exceptional and unique watch is accompanied with a replacement dial and a platinum bracelet. It was sold for CHF 3.8M from a lower estimate of CHF 2M, lot 88.
1946-1950 Reference 1415 in Platinum
2002 SOLD for CHF 6.6M (worth at that time US $ 4M) by Antiquorum
Patek Philippe began in 1937 to assemble World Time watches (Heures Universelles, HU) with the movement patented and supplied by Louis Cottier, without obtaining an exclusivity. A 24 hour disc rotates counter clockwise in synchronisation with the hands. A ring on the bezel refers to 28 locations, later extended to 42. The time everywhere around the world is read directly by the position of these inscriptions in front of the rotating disc.
After the ephemeral 96 HU and 515 HU references used by Patek Philippe in the development phase, the wristwatch model reference 1415 HU is released in 1939.
The overall production of the 1415 was 115 pieces. The only known example in platinum is embedded with a movement recorded in 1946 and completed in 1949-1950. The case was made by Wenger in 1949-1950 and the matte silver dial with applied platinum Arabic numerals by Stern Frères in the same date range.
It was sold by Antiquorum on April 13, 2002 for CHF 6.6M worth at that time US $ 4M, lot 608, and for HK $ 14.7M by Christie's on May 22, 2021, lot 2507.
Cloisonné enamel dials with continent maps appeared from 1948 on Heures Universelles pocket watches and wristwatches.
After the ephemeral 96 HU and 515 HU references used by Patek Philippe in the development phase, the wristwatch model reference 1415 HU is released in 1939.
The overall production of the 1415 was 115 pieces. The only known example in platinum is embedded with a movement recorded in 1946 and completed in 1949-1950. The case was made by Wenger in 1949-1950 and the matte silver dial with applied platinum Arabic numerals by Stern Frères in the same date range.
It was sold by Antiquorum on April 13, 2002 for CHF 6.6M worth at that time US $ 4M, lot 608, and for HK $ 14.7M by Christie's on May 22, 2021, lot 2507.
Cloisonné enamel dials with continent maps appeared from 1948 on Heures Universelles pocket watches and wristwatches.
Reference 2499
Intro
Introduced in 1941 with the reference 1518, the perpetual calendar chronograph is a useful complication that meets the expectations of wealthy users.
Two references of wristwatches with perpetual calendar and moon phases were introduced nearly simultaneously. The 2499 is a chronograph and the 2497 has the centre seconds. Their cases are similar except that the 2497 does not have the push button of the chronograph. At that time, no other manufacturer was able to produce a wristwatch with such a complication.
These models were assembled gradually over a very long time. The total production of the 2499 is 349 units from 1950 to 1985. The 2497 is even rarer : 115 units, from 1951 to 1963, or 179 units when adding its waterproof version 2438/1.
2497 and 2499 were available in the three golds and in platinum. The first cases were basically manufactured by Emile Vichet. The next series of cases, entrusted to Wenger, have a rounded back side and a simplified shape of the lugs.
The great success of the combinations of the 2499 was maintained up to current day with later references 3970, 5970 and 5270.
Two references of wristwatches with perpetual calendar and moon phases were introduced nearly simultaneously. The 2499 is a chronograph and the 2497 has the centre seconds. Their cases are similar except that the 2497 does not have the push button of the chronograph. At that time, no other manufacturer was able to produce a wristwatch with such a complication.
These models were assembled gradually over a very long time. The total production of the 2499 is 349 units from 1950 to 1985. The 2497 is even rarer : 115 units, from 1951 to 1963, or 179 units when adding its waterproof version 2438/1.
2497 and 2499 were available in the three golds and in platinum. The first cases were basically manufactured by Emile Vichet. The next series of cases, entrusted to Wenger, have a rounded back side and a simplified shape of the lugs.
The great success of the combinations of the 2499 was maintained up to current day with later references 3970, 5970 and 5270.
1
1951 Reference 2499 in Pink Gold
2002 SOLD for CHF 3.2M (worth US$ 2.1M at that time) by Antiquorum
On October 19, 2002, a pink gold 2499 of 1951 was sold for CHF 3.2M (worth US $ 2.1M at thar rime) by Antiquorum, lot 82. This watch is from the first series of the 2499. It had been sold to its first owner in 1955.
A pink gold 2499 assembled in 1951 with the Vichet case was sold for CHF 1.68M by Sotheby's on November 16, 2008, lot 220. and for CHF 2.63M by Christie's on November 9, 2014, lot 59. Its condition of preservation was announced as remarkable. It is a twin sister of the 2499 sold in 2002 by Antiquorum, with adjacent movement and case numbers. It had been sold to its first owner in London in 1956.
A pink gold 2499 assembled in 1951 with the Vichet case was sold for CHF 1.68M by Sotheby's on November 16, 2008, lot 220. and for CHF 2.63M by Christie's on November 9, 2014, lot 59. Its condition of preservation was announced as remarkable. It is a twin sister of the 2499 sold in 2002 by Antiquorum, with adjacent movement and case numbers. It had been sold to its first owner in London in 1956.
1952 Reference 2499 in Yellow Gold for Serpico y Laino
2018 SOLD for CHF 3.25M by Christie's
Narrated and linked below.
1952 Reference 2499 in Yellow Gold for Serpico y Laino
2021 SOLD for CHF 3.54M by Phillips
A yellow gold Patek Philippe 2499 First Series has just surfaced in an untouched condition after six decades in a safe. It is described as "astonishingly well preserved".
This watch has been assembled in 1952 with the earliest known 2499 movement embedded in an authenticated Wenger case which was to replace the Vichet case for this reference.
It was retailed in 1956 by Serpico y Laino. The dial, case and clasp are further factory stamped for this Caracas retailer specializing in Patek Philippe and Rolex. It is fitted with its original yellow gold Gay Frères bracelet stamped SYL for the retailer.
It was sold for CHF 3.54M from a lower estimate of CHF 2M by Phillips on November 5, 2021, lot 63.
This watch has a twin sister with the next serial numbers of movement and case but with another bracelet. It had been delivered on the same day to the same retailer, possibly for the same customer. Surfaced by the children of the original owners as a time capsule in an excellent original condition, it was sold for CHF 3.25M from a lower estimate of CHF 1.5M by Christie's on November 12, 2018, lot 234.
This watch has been assembled in 1952 with the earliest known 2499 movement embedded in an authenticated Wenger case which was to replace the Vichet case for this reference.
It was retailed in 1956 by Serpico y Laino. The dial, case and clasp are further factory stamped for this Caracas retailer specializing in Patek Philippe and Rolex. It is fitted with its original yellow gold Gay Frères bracelet stamped SYL for the retailer.
It was sold for CHF 3.54M from a lower estimate of CHF 2M by Phillips on November 5, 2021, lot 63.
This watch has a twin sister with the next serial numbers of movement and case but with another bracelet. It had been delivered on the same day to the same retailer, possibly for the same customer. Surfaced by the children of the original owners as a time capsule in an excellent original condition, it was sold for CHF 3.25M from a lower estimate of CHF 1.5M by Christie's on November 12, 2018, lot 234.
2
1956 Reference 2499 in Yellow Gold for Asprey
2018 SOLD for CHF 3.9M by Sotheby's
A 2499 assembled in 1956 for the Asprey retail house in a yellow gold Wenger case was sold for CHF 3.9M by Sotheby's on November 13, 2018 from a lower estimate of CHF 2M, lot 220. Its movement was made in 1952.
+
Other results including also later units
On May 14, 2012, Christie's sold for CHF 2.55M from a lower estimate of CHF 1.2M a 2499 in pink gold made in 1950, lot 84. The archives of the brand confirm that it has been manufactured in 1950 but it has surprisingly a typical Wenger case, previously considered as later than the Vichet case. This feature has not been explained. It was nevertheless sold to its first owner in 1956.
On May 9, 2021, Phillips sold a yellow gold 2499 for CHF 1.97M from a lower estimate of CHF 1M, lot 161. Made in 1953, it is one of the last examples of the first series, with a Vichet case. It has an Italian calendar.
A pink gold 2497 assembled in 1953 was sold for CHF 590K by Phillips on November 8, 2015. Another 2497 in pink gold, also assembled in 1953, was sold for CHF 980K from a lower estimate of CHF 500K by Sotheby's on May 12, 2019, lot 184. They waited respectively until 1970 and 1971 to be sold to their first customer, long after the end of production of this reference. They had already become collector's items and remain in exceptional condition.
A yellow gold 2499 assembled in 1954 was sold for CHF 1.48M by Phillips on November 7, 2021, lot 247.
Antiquorum sold a 2499 for $ 1.5M on October 16, 2008 in New York. Made in 1956, it is still part of the first series, which is characterized by its square pusher button.
A pink gold 2499 was sold for CHF 2.45M from a lower estimate of CHF 1.5M by Phillips on May 9, 2021, lot 208. Made in 1957, it belongs to the second series, with a Wenger case. It was sold to its first owner in 1961 and has German calendar inscriptions. It had been sold for CHF 1.2M by the heirs of its original owner at Christie's on November 15, 2010, lot 234.
A pink gold third series 2499 made in 1971 was sold by Phillips on November 12, 2017 for CHF 2.8M, lot 187.
The final two 2499s were assembled in 1987 in a platinum case at the request of Philippe Stern, possibly for an ultimate use of remaining parts in stock. One of them was sold for CHF 3.45M by Christie's on November 12, 2012.
On May 9, 2021, Phillips sold a yellow gold 2499 for CHF 1.97M from a lower estimate of CHF 1M, lot 161. Made in 1953, it is one of the last examples of the first series, with a Vichet case. It has an Italian calendar.
A pink gold 2497 assembled in 1953 was sold for CHF 590K by Phillips on November 8, 2015. Another 2497 in pink gold, also assembled in 1953, was sold for CHF 980K from a lower estimate of CHF 500K by Sotheby's on May 12, 2019, lot 184. They waited respectively until 1970 and 1971 to be sold to their first customer, long after the end of production of this reference. They had already become collector's items and remain in exceptional condition.
A yellow gold 2499 assembled in 1954 was sold for CHF 1.48M by Phillips on November 7, 2021, lot 247.
Antiquorum sold a 2499 for $ 1.5M on October 16, 2008 in New York. Made in 1956, it is still part of the first series, which is characterized by its square pusher button.
A pink gold 2499 was sold for CHF 2.45M from a lower estimate of CHF 1.5M by Phillips on May 9, 2021, lot 208. Made in 1957, it belongs to the second series, with a Wenger case. It was sold to its first owner in 1961 and has German calendar inscriptions. It had been sold for CHF 1.2M by the heirs of its original owner at Christie's on November 15, 2010, lot 234.
A pink gold third series 2499 made in 1971 was sold by Phillips on November 12, 2017 for CHF 2.8M, lot 187.
The final two 2499s were assembled in 1987 in a platinum case at the request of Philippe Stern, possibly for an ultimate use of remaining parts in stock. One of them was sold for CHF 3.45M by Christie's on November 12, 2012.
1954 Reference 2497 ex Haile Selassie
2017 SOLD for CHF 2.9M by Christie's
A Patek Philippe wristwatch with a prestigious provenance from the King of Kings was sold by Christie's for CHF 2.9M from an estimate in excess of CHF 500K on May 15, 2017, lot 166.
Patek Philippe is attentive to meet the specific requirements of its customers and lists all its outputs in its ledgers but an impeccable confidentiality still allows breathtaking discoveries several decades later.
The watch that just surfaced was manufactured in 1954 on a special order from an Italian pilot, pioneer of the use of aviation for the modernization of Africa, who immediately presented it to His Majesty Haile Selassie. The Emperor of Ethiopia in turn departed from it a few years later for a diplomatic gift.
The King of Kings. while claiming an affiliation to King Solomon and the Queen of Sheba, was one of the most important political figures of his continent. He targeted the social improvement of Africa and was a successful opponent to fascism.
This watch is a 2497, which is a variant without chronograph pusher of the prestigious 2499. It is a military watch, meaning a particular attention to the legibility of its Arabic numerals and an increased width of the hands. It has some highly rare features for a Patek Philippe of that period such as the alpha shape of the hands and the auto-luminescence of numerals and hands.
This watch probably unique of its kind had never been opened and even widely preserves the fragile chemical paste that ensures its luminescence.
Patek Philippe is attentive to meet the specific requirements of its customers and lists all its outputs in its ledgers but an impeccable confidentiality still allows breathtaking discoveries several decades later.
The watch that just surfaced was manufactured in 1954 on a special order from an Italian pilot, pioneer of the use of aviation for the modernization of Africa, who immediately presented it to His Majesty Haile Selassie. The Emperor of Ethiopia in turn departed from it a few years later for a diplomatic gift.
The King of Kings. while claiming an affiliation to King Solomon and the Queen of Sheba, was one of the most important political figures of his continent. He targeted the social improvement of Africa and was a successful opponent to fascism.
This watch is a 2497, which is a variant without chronograph pusher of the prestigious 2499. It is a military watch, meaning a particular attention to the legibility of its Arabic numerals and an increased width of the hands. It has some highly rare features for a Patek Philippe of that period such as the alpha shape of the hands and the auto-luminescence of numerals and hands.
This watch probably unique of its kind had never been opened and even widely preserves the fragile chemical paste that ensures its luminescence.
1954 Reference 2497 in White Gold
2021 SOLD for CHF 2.8M by Phillips
In the high end Patek Philippe watches from the 1950s, the reference 2497 is beside the 2499 chronograph whose case and dial are very similar in their basic versions.
The brand made much expectations in the 2497. Breaking with its practice of sequentially numbering the elements, it reserved for this model and its waterproof version 2438/1 two hundred movement numbers, from 888,000 to 888,199. Only 115 of these numbers were used for the 2497 which is one of the rarest serially produced Patek Philippe watches.
Scarcity does not prevent the existence of variants. Made by special order for a client who wanted to honor Emperor Haile Selassie, a 2497 assembled in 1954 with a military dial was sold for CHF 2.9M including premium by Christie's on May 15, 2017.
For a long time the wealthy customers demanded only yellow or pink gold cases. Only three 2497 were made in white gold. Without much success ! One of them also assembled in 1954 waited a customer for nine years in the available stocks of Patek Philippe.
This watch has the classic mid-1950s dial with Arabic numerals for some hours. Curiously a magnifier is integrated in the plexi crystal to better see the day and date, a feature which was not regularly proposed by Patek Philippe in its day. Even more rare, a groove in the case facilitates the access of the user to the corrector button without undoing the bracelet. Although the catalog does not consider this hypothesis, a special production is possible for an elderly client who could not take possession of his order.
This white gold 2497 was sold by Phillips for CHF 2.3M on November 12, 2017, lot 231. and for CHF 2.8M on November 5, 2021, lot 122. It is in an excellent original condition.
The brand made much expectations in the 2497. Breaking with its practice of sequentially numbering the elements, it reserved for this model and its waterproof version 2438/1 two hundred movement numbers, from 888,000 to 888,199. Only 115 of these numbers were used for the 2497 which is one of the rarest serially produced Patek Philippe watches.
Scarcity does not prevent the existence of variants. Made by special order for a client who wanted to honor Emperor Haile Selassie, a 2497 assembled in 1954 with a military dial was sold for CHF 2.9M including premium by Christie's on May 15, 2017.
For a long time the wealthy customers demanded only yellow or pink gold cases. Only three 2497 were made in white gold. Without much success ! One of them also assembled in 1954 waited a customer for nine years in the available stocks of Patek Philippe.
This watch has the classic mid-1950s dial with Arabic numerals for some hours. Curiously a magnifier is integrated in the plexi crystal to better see the day and date, a feature which was not regularly proposed by Patek Philippe in its day. Even more rare, a groove in the case facilitates the access of the user to the corrector button without undoing the bracelet. Although the catalog does not consider this hypothesis, a special production is possible for an elderly client who could not take possession of his order.
This white gold 2497 was sold by Phillips for CHF 2.3M on November 12, 2017, lot 231. and for CHF 2.8M on November 5, 2021, lot 122. It is in an excellent original condition.
Reference 2523
Intro
In 1953 the reference 2523 replaces the 1415 after a modification of the Cottier Heures Universelles calibre. A dual crown now enables to change the reference setting of the time zone. The user sets his position to the local time displayed by the central hands. The time in 41 cities of the world is a direct reading of the junction between the two rings.
The 2523 is a luxury watch, most often equipped with an enameled dial. The case embedding the double crown is a technical feat.
Two batches were produced in two ranges of movement numbers for a possible high total of 5 + 20 watches or slightly more. About half of them have a continent enamel figure.
The 2523 is in turn replaced in 1957 by its variant 2523-1 with a simplification of the lugs and a metal dial. The production of HU movements ceases in 1965.
The 2523 is a luxury watch, most often equipped with an enameled dial. The case embedding the double crown is a technical feat.
Two batches were produced in two ranges of movement numbers for a possible high total of 5 + 20 watches or slightly more. About half of them have a continent enamel figure.
The 2523 is in turn replaced in 1957 by its variant 2523-1 with a simplification of the lugs and a metal dial. The production of HU movements ceases in 1965.
1953 Guilloché Gold in Yellow Gold
2021 SOLD for CHF 2.67M by Christie's
The production by Patek Philippe of the reference 2523 began in 1953. The lowest movement number is 720'300.
The yellow gold watch embedding the 720'300 is fitted with the earliest known wave guilloché gold dial. Its indexes are raised in yellow gold. It was supplied to its first owner in 1958.
It was sold for CHF 2.67M by Christie's on November 8, 2021, lot 88.
The yellow gold watch embedding the 720'300 is fitted with the earliest known wave guilloché gold dial. Its indexes are raised in yellow gold. It was supplied to its first owner in 1958.
It was sold for CHF 2.67M by Christie's on November 8, 2021, lot 88.
1
1953 Eurasia in Yellow Gold
2021 SOLD for CHF 7M by Phillips
Four 2523 are known from the first 1953 batch of movements. Three are fitted with an Eurasia cloisonné enamel dial and the fourth is a guilloché. The Eurasia design is a reuse from one of the dials of the 1415 in flat colors. The graduation of the enamel colors of the 2523 is arguably unprecedented.
The second 1953 batch was fitted with North America, South America, enamel blue and guilloché dials, with no Eurasia added.
One of the three Eurasia 2523s is a new discovery. It has the lowest case number in the whole 2523 reference and the lowest movement number associated with a 2523 Eurasia dial.
It was sold for CHF 7M by Phillips on May 8, 2021, lot 33. Please watch the video shared by Phillips where the features of this masterpiece are narrated in details by Aurel Bacs.
A North America (including Central America and Cuba) from the second 2523 batch was sold for CHF 2.8M from a lower estimate of CHF 1.6M by Christie's on May 14, 2012, lot 88.
The second 1953 batch was fitted with North America, South America, enamel blue and guilloché dials, with no Eurasia added.
One of the three Eurasia 2523s is a new discovery. It has the lowest case number in the whole 2523 reference and the lowest movement number associated with a 2523 Eurasia dial.
It was sold for CHF 7M by Phillips on May 8, 2021, lot 33. Please watch the video shared by Phillips where the features of this masterpiece are narrated in details by Aurel Bacs.
A North America (including Central America and Cuba) from the second 2523 batch was sold for CHF 2.8M from a lower estimate of CHF 1.6M by Christie's on May 14, 2012, lot 88.
2
1953-1954 Ocean Blue in Pink Gold
2019 SOLD for HK$ 70M by Christie's
A pink gold 2523 in excellent condition without any sign of repair surfaced in 2010. It was twice sold by Christie's, for CHF 2.7M on November 15, 2010, lot 114, and for HK$ 70M on November 23, 2019, lot 2201. Please watch the video prepared by the auction house.
The dial and movement were made in 1953 and the case in 1954. The centre of its dial is not in cloisonné but is monochrome in a beautifully translucent ocean blue enamel. The watch was sold to Gobbi in Milan in 1957. It is the only 2523 to have on its dial a double signature of Patek Philippe and a retailer, a feature that is today eagerly sought after by watch collectors. The movement is from the second 2523 batch.
The dial and movement were made in 1953 and the case in 1954. The centre of its dial is not in cloisonné but is monochrome in a beautifully translucent ocean blue enamel. The watch was sold to Gobbi in Milan in 1957. It is the only 2523 to have on its dial a double signature of Patek Philippe and a retailer, a feature that is today eagerly sought after by watch collectors. The movement is from the second 2523 batch.
3
1966 Reference 2523/1 Guilloché in Pink Gold
2020 SOLD for CHF 5M by Phillips
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. The cloisonné dials are no more offered.
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 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 twice by Phillips, for HK$ 19.5M on May 31, 2016, lot 373, and for CHF 5M on November 6, 2020, lot 39.
A 1965 yellow gold 2523/1 with rare luminous hands was sold by Christie's on May 22, 2021 for HK $ 16M from a lower estimate of HK $ 8M, lot 2509.
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 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 twice by Phillips, for HK$ 19.5M on May 31, 2016, lot 373, and for CHF 5M on November 6, 2020, lot 39.
A 1965 yellow gold 2523/1 with rare luminous hands was sold by Christie's on May 22, 2021 for HK $ 16M from a lower estimate of HK $ 8M, lot 2509.
1975 Leap Year Indication Prototype
2021 SOLD for HK$ 29M by Christie's
Released in 1962, the reference 3448 by Patek Philippe was a technical feat in its time. It was the first commercially available self-winding wristwatch to display altogether the perpetual calendar and the moon phases. In terms of complications, the brand desired to offer the perfection. The leap year indication was still missing.
In 1975 a prototype was prepared by Max Berney, a master watchmaker at Patek Philippe. He took a 1970 3448 and replaced the moon phases by the leap year. The dial was modified accordingly by Stern Frères. The new indicator is displayed as a sub-dial to be read with a hand inside the date ring.
This unique watch, referenced 3448J, was presented in the same year by Henri and Philippe Stern, then the owners of the company, to Alan Banbery, one of the best connoisseurs of the brand whose career culminated in the opening of the Patek Philippe Museum in Geneva in 2001. Banbery kept it for his personal use for 24 years. It was sold for CHF 1.84M by Sotheby's on November 16, 2008, lot 214, and for HK $ 29M by Christie's on May 22, 2021, lot 2513.
The leap year indication was necessary to keep quiet the perfectionists but did not deserve such a large sub-dial. Patek Philippe was not willing to remove the moon phases from their high end models. On another prototype which added the leap year to the 3448 in 1981, the indicator is limited to a code of four bars in an eccentric tiny aperture. This watch was sold for CHF 1.62M by Christie's on May 13, 2013, lot 131.
This new prototype was satisfactory and the reference 3450 was released accordingly in the same year. The perpetual calendar was now complete and the 3448 was obsoleted in 1982.
In 1975 a prototype was prepared by Max Berney, a master watchmaker at Patek Philippe. He took a 1970 3448 and replaced the moon phases by the leap year. The dial was modified accordingly by Stern Frères. The new indicator is displayed as a sub-dial to be read with a hand inside the date ring.
This unique watch, referenced 3448J, was presented in the same year by Henri and Philippe Stern, then the owners of the company, to Alan Banbery, one of the best connoisseurs of the brand whose career culminated in the opening of the Patek Philippe Museum in Geneva in 2001. Banbery kept it for his personal use for 24 years. It was sold for CHF 1.84M by Sotheby's on November 16, 2008, lot 214, and for HK $ 29M by Christie's on May 22, 2021, lot 2513.
The leap year indication was necessary to keep quiet the perfectionists but did not deserve such a large sub-dial. Patek Philippe was not willing to remove the moon phases from their high end models. On another prototype which added the leap year to the 3448 in 1981, the indicator is limited to a code of four bars in an eccentric tiny aperture. This watch was sold for CHF 1.62M by Christie's on May 13, 2013, lot 131.
This new prototype was satisfactory and the reference 3450 was released accordingly in the same year. The perpetual calendar was now complete and the 3448 was obsoleted in 1982.
