Patek sets new auction record

A stunning vintage Patek Philippe sold for $2.9m at Phillips in Hong Kong. That’s the highest price a wristwatch ever fetched in an auction in Asia.

The piece is a breathtaking wristwatch, one of the most appreciated, collectible and sought-after world-time model ever produced by any manufacturer.

Patek sets new auction record 1The watch case is preserved in absolutely unspoiled condition. The design of this reference is characterized by the angular and faceted lugs raised above the bezel. Obviously, such a detail is easily spoiled by even the lightest polishing, and to be able to behold – let alone to own – such a spectacularly preserved piece truly is a once-in-a-lifetime opportunity.

The dial is fitted with an engine-turned decoration. So far, only two other yellow gold 2523 are known with a similar dial, thus making this variation the rarest of them all for a yellow gold case, together with the blue enamel décor. It is also interesting to note how the guillochage found on ref. 2523 is different than the one found on ref. 2523/1: 2523 presents gilt engine-turning rather than silver, and with a more elaborate design, featuring a satin ring with roman and baton numerals framing the engine-turned center.

Last, but not least, the present piece was retailed by famed French jeweler Jean Guillermin and it features on the case back, absolutely unspoiled and perfectly recognizable, not only the two French import marks (the “Owl”), but also the stamp of the retailer itself. It has to be underlined how unusual it is to find a two-crown world time – whether ref. 2523, or 2523/1 – signed by the retailer. Only two other examples are known from the market: a 2523 signed by Gobbi, and a 2523/1 signed by Tiffany.

 

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