A “possibly unique”. “highly important” 1971 Patek Philippe watch is the star lot in Sotheby’s Hong Kong April show, with a top estimate of £2.3 million or $3.1 million (HK$24 million).
The pink gold chronograph wristwatch features a perpetual calendar with moon phases.
The Patek Philippe Reference 2499 was made in 1965 and sold by Italian jeweller Trucchi, whose name is on the day/night dial.
The Piazza dei Martiri in Naples, a suitably lovely address for a Trucchi store, the jewellers who sold the piece.
The reference was launched in 1950, lasting until 1985. A long life, but in that period just 340 pieces were made.
Sotheby’s say: “Reference 2499 is arguably the most coveted vintage Patek Philippe on the market and even considered the most collectable vintage wristwatch, period.”
This example may be unique because of a number of details.
Supremely elegant to look at, it is under the bonnet that Pateks reveal their real magic, and the skill that makes them priceless to collectors. Image courtesy of Sotheby’s.
It is in pink gold, like around 21 others. It has a retailer’s signature, as do only three other pink gold examples. But the sapphire crystal is unknown in another example with those other features.
This watch was made in 1965 before being sold to Trucchi for retailing in 1972 (presumably it was completed with the addition of the Trucchi signature in 1971). When in this process the sapphire crystal was added is unclear say Sotheby’s.
It has previously been auctioned, realising 672,850 CHF in 1999 and about $1.8 million in 2019.
Patek Philippe is the reigning champion when it comes to big selling watches, with 114 achieving over $1.5 million in a 2022 survey.
There were only around 22 reference 2499s made with these pink gold cases. Image courtesy of Sotheby’s.
Of the five most valuable watches ever sold at auction, four are Pateks.
A Grandmaster Chime sold for $31 million in 2019 and is still the most valuable watch ever sold.
The most expensive pocket watch ever sold at auction was a Patek Philippe Henry Graves Supercomplication that made $24 million in 2017.
The company was founded by Antoni Patek and Adrien Philippe in 1839. The technical wonders of their movements – which usually feature many complications – are among their greatest achievements.
Even off the shelf, the watches can sell for hundreds of thousands of dollars.
This example will probably add another Patek to the list of most valuable watches. It will be sold in Hong Kong on April 24.
