The ongoing battle between Phillips and Christie's has produced some fascinating behind-the-scenes narratives, but to the rest of us, the result is nothing but better scholarship and increased availability of absolutely superlative watches. We've already told you about our team picks at the upcoming Phillips auctions (click here to read, and here to read about some amazing pocket watches coming from AQ), so today we're here to give you an idea of what our team is into from the Christie's May 16th Geneva sale. The theme? Mid-century complicated wristwatches.
Jack's Pick: Patek Philippe Dual-Crown World-Timer Reference 2523/2
Patek Philippe is strongly associated with certain complications – the perpetual calendar, for instance, and that, so much so that when they produced an annual calendar it provoked considerable indignation. But of all the complications Patek makes, it’s probably the world-time complication, which was first developed in its modern form by the watchmaker Louis Cottier in 1931) and produced by him for Patek for many years, that’s the defining complication for Patek (see this year's Basel release). Cottier also made world-time movements for other clients, including, of all things, Rolex (a small series of pocket watches, Rolex reference 4262) and his first Patek world-time watches date to 1937. While world-time watches and clocks with the names of reference cities around the world date back considerably further than you might think (there is, for instance, a world-time clock by Hans Neidtner, of Hamburg, which was completed around 1630 and which, aside from the font, has a world-time 24-hour dial that’s surprisingly modern looking), it’s Cottier’s designs that really define the complication, and especially those he made for Patek Philippe.
Of all the Patek Cottier-made world-time references, the two-crown variations are the rarest and by far, the most costly to acquire; references 2523 and 2523/1 can, on the rare occasions they come to market, easily list for estimates between half a million and three quarters of a million dollars. Some can hammer for even more than that, like the enamel dial 2523 that Christie’s listed in 2014 that went for a cool CHF 2.3 million. Cottier completed the first two-crown world-time watch in 1950, and the first use of it by Patek Philippe was in the reference 2523 in 1953.
Lot 117 from this sale is a wonderful example of one of the last series of Cottier movement 2523/1 watches, and while not entirely fresh to market, it has been in the collection of the current consignor since he purchased it from Christie’s in 1998. As with any high value, low production vintage watch, condition is everything (or almost everything) and according to the lot notes, thanks to the very short chain of custody, this world-time reference 2523/1 is in incredibly well preserved condition. The watch, according to the extract from the Patek archives, was completed in 1965 and sold to its first owner in January of 1973. There have been only two owners; the current consignor, and the first owner.
As you might expect, the estimate on this lot is very high, but as is so often the case with very rare Patek Philippes it’s entirely possible for the watch to go much higher than the high estimate; references 2523 and 2523/1 are so rare and so desirable – and in this condition, even more so – that it requires only a couple of serious collectors with deep pockets (or interest from the Patek Museum) to drive the price sky-high. This is a lot to watch with considerable interest even if you’re not bidding on it (as most of us will not) as the hammer price, as well as the vigor of bidding activity, for such a rare and perennially sought reference, is a significant indicator of the strength of not only the vintage Patek Philippe market, but also of the vintage market as a whole.
Click here for more on the Patek Philippe 2523/1.
Arthur's Pick: Breguet Triple Calendar
It was not Abraham-Louis Breguet’s pivotal role for the craft, nor my patriotic instincts that drew me to the French watchmaker, but the words of a Russian poet.
“A dandy on the boulevards . . . strolling at leisure until his Breguet, ever vigilant, reminds him it is midday.” – Alexander Pushkin, 1829.
Pushkin identified, as many of his contemporaries did, that a Breguet was, above all, a precious object that young men should aspire to own one day.
Needless to say, there are many pieces that fall under that distinction in Christie’s upcoming Geneva sale. However, for the reasons stated above, this Breguet calendar is my highlight.
Presented in an 18k yellow-gold case and signed n°1039, this triple calendar looks like a lot like other triple calendars made in the post-war years – most notably because of the blue outer date ring.
However, while its peers manufactured many during that era, Breguet’s production focused on other complications. In fact, Breguet’s own archives suggest that only five of these were made, and the condition of this particular model, whose dial has veered slightly from pink gold to a most beautiful champagne, makes it all the more desirable.
I mentioned earlier that French pride played no part in my selection, and I stand by that remark. Though I would be lying if I said the French calendar does not add to the charm of this watch.
And while the complication is one that speaks to me – I picked a Rolex yellow-gold "Stelline" reference 6062 not so long ago as one of my Phillips highlights – it’s the finer details of the dial that place this Breguet above similar watches in the Christie’s catalogue. I'm thinking especially of the combination of applied gold dots and applied Arabic numerals, as well as the balancing act between the name of the manufacture, and the production number of the watch. Another striking feature are the alpha hands, which look like spearheads. They are a very unusual sight in vintage Breguet.
Petite might be the best way of describing the presence of the watch on the wrist. The case measures 35 mm and it doesn’t wear much larger, though the thin lugs extend the overall size of the watch.
It’s never easy to choose a single favorite from Christie’s annual Geneva lineup, and even harder to predict whether bidders will abide by the auctioneer’s estimates, or fight it out whatever the cost. But I expect this rare and very attractive watch will light a spark in the room come May 16th.
Click here for more on this very rare triple calendar from Breguet.
Louis' Pick: Rolex GMT-Master 6542 With Tropical Dial
My choice of an aged tool watch from a catalog filled with wonderful perpetual calendars might be perplexing for some. Yet, during the showing at Christie’s I couldn’t let go of this early GMT-Master. There was something extremely compelling about it; the tropical dial is nothing short of magical, with an intense brownish hue that is really to die for. It matches the lower part of the bezel as much as it makes the patina of the lume look even better.
On the wrist, this GMT-Master easily proves that Rolex's first foray into travel watches was a masterpiece; the 38 mm case feels perfectly proportioned, without crown guards in the way. And very importantly, the watch has retained its bakelite bezel, the Achilles’ heel of this reference. This part is indeed as fragile as it is beautiful, and the acrylic substitute lost both the sexy looks and the poetic weakness.
The irony of praising intrinsic defects does not elude me, but frankly this frailty is also what makes this watch so attractive. It was as close to perfection as it was possible to achieve 60 years ago. And all of its little imperfections just got better with time, making this Rolex unique in appearance, and with a real soul. This one was not a safe queen, and it was for the best; it lived like a true tool watch but still looks amazing.
Oh, and this is one lot where you might benefit from the dreaded (or welcomed), "crappy photo effect." The lot image in the catalog does not do this watch justice, at all.
For more on this GMT-Master, click here.
Ben's Pick: 1940s Audemars Piguet Triple Calendar Chronograph
Okay, this sale has some real gems – not the least of which were chosen by my esteemed colleagues here. But there are so many killers in this sale it was really difficult to choose just one for me. Now, the obviously choice here is the steel 530 (hands-on pics coming later today) but that watch will fly no matter what. Some other almost picks for me included the killer 6200 Sub (when was the last time you saw an original one at auction?), the second series 2499 (best watch ever? prob), the steel 140 with box and papers. And frankly, Arthur's Breguet. All amazing watches. But I'm nothing if not consistent, and I still really believe in the value and cool factor of vintage Audemars Piguet complications.
This particular watch is a triple calendar chronograph dating to 1942, and again, what makes these AP's so incredible is just how rare they are. Ten of these watches were made. Ten. That's it. That is one of 36 years worth of production of the 2499, by comparison. And this watch, while a little on the small side, is crisp, honest, and sharp.
The interest in vintage AP has been rising over the past few years as they've committed to exploring their early wristwatches in greater depth, and I don't see things slowing down any time soon. The estimate for this one is 150,000 to 250,000 CHF, and okay, it's not a perpetual like a 1518, but this watch is just so much more special.
Check out this stunning vintage AP triple calendar chronograph here.
Cara's Pick: Patek Philippe 3448 White Gold Perpetual Calendar
For my auction pick from Christie’s Geneva, I chose my grail watch, the Patek Philippe 3448 in white gold. There is something so pleasantly austere about this watch and I will never forget the first time I saw one (October 15, 2012). It was love at first sight. The sharpness of the lugs, the simplicity of the well balanced dial, the moon-phase (love a moon-phase), and the perpetual calendar function run by the renowned automatic caliber 27-460Q movement. As it should be, the example at Christie’s is in original, unpolished condition (yay!). For me, this is the perfect watch.
Now, you are probably thinking, “yeah, yeah, whatever, we’ve seen this watch before,” but you haven’t. In fact, this particular example has never been at auction, as it was consigned by by the family of the original owner. Oh, and did I mention the rare dial configuration that has never been seen at auction? There were four versions of dials used on the 3448: one with applied enamel baton minute markers; a second with applied dot minute markers and a smaller date ring; a third with applied dot minute markers and large date ring; and a fourth with printed baton minute markers.
The 3448 you see here, produced in 1973, features applied dot minute indexes with a small date ring, but the numbers for the date at the bottom are upside down. This style has only been seen with a large date circle with only five examples known. Additionally, this dial is one of the early “Aprior” dials, which means that the dial is applied with white-gold indexes. (APRIOR stood for Association pour la Promotion Industrielle de l'Or, a gold industry trade association.) This watch, as simple as it it is, shows that it really is all in the details.
Oh and the estimate? A cool 300,000 to 500,000 CHF. Yeah, like I said – grail watch.
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