Exceptional Horological Works of Art

Geneva, Oct 19, 2002

LOT 13

Audemars Piguet, Genève, No. 13530, retailed by Gübelin, Lucerne (Switzerland), circa 1950. Extremely fine and rare, minute-repeating, 18K yellow gold gentleman's wristwatch.

CHF 120,000 - 150,000

EUR 80,000 - 100,000

Sold: CHF 135,500

C. three-body, solid, polished, straight lugs. D. matte silver with applied gold indexes, auxiliary seconds dial. "Bâton" yellow gold hands. M. 12''', rhodium-plated, "fausses côtes" decoration, 29 jewels, straight line lever escapement, cut bimetallic balance adjusted to temperatures and 4 positions, Breguet balance-spring, repeating on gongs by means of a slide on the band. Dial, case and movement signed. Diam. 34 mm.


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Grading System
Grade:
Case: 3

Good

Movement: 3*

Good

Overhaul recommended, at buyer's expense

Dial: 3 - 01

Notes

Similar watches are published in "Audemars Piguet" by G. L. Brunner, Chr. Pfeiffer-Belli and M. K.Wehrli, pp. 254 to 262. Audemars Piguet started making miniature minute-repeating ebauches at the beginning of the 20th century. From 1906 to the 1920's, some 35 minute-repeating watches of 10''', 11''', and 12''' were made in their workshops, 20 of which were to intended for wristwatches. Certain of these ebauches were finished, cased, and sold during later decades. Only one other minute-repeating watch of 8''' is known to exist today. Another characteristic of Audemars Piguet watches is their thinness; this is an extremely important characteristic for the well-informed collector.Audemars Piguet Le Brassus and Geneva. Founded in 1875 by two watchmakers, Jules Audemars and Edward Piguet, aged 24 and 22, under the name "Audemars Piguet, Manufacture d?Horlogerie". Jules Audemars was born in Le Brassus in 1851, where he was trained as a watchmaker by master watchmakers of the area. After his apprenticeship, Jules Audemars began work as a "repasseur" until 1874, then settling in Gimel and opening a small business next to his workshop. He did not obtain the suc-cess he was hoping for, probably due to the recession which was then beginning, and eighteen months later he decided to return to Le Brassus, looking for a new situation more in keeping with his exceptional watchmaking skill. Edward Auguste Piguet, born two years after Jules Audemars, received a simi-lar education. Edward completed his formation as a "repasseur" at Char-les Capt. The two met in 1875 in Le Brassus. For a time, the two watch-makers worked closely together without legally officializing their partnership. Then, the Audemars Piguet company was officially foun-ded, in 1889. Nevertheless, a brand was registered at the "Office technique de l?Edition et de la Publicité" in Bern, on December, 6, 1882, for movements and watch cases. In the records, Audemars Pi-guet & Cie is presented as a manufacture active all year long, employing 10 male employees. In 1880, they opened a branch in Geneva, where commercial possibilities were the greatest. Due to his exceptional technical abilities, Jules Audemars was the technical manager of the manufacture. He patented several inventions in Switzerland and in the USA, and traveled exten-sively, particularly to America, where the potential for trade fascinated him. Edward Piguet was the financial specialist of the firm. The two men managed the company together until 1918, when Jules Audemars died at the age of 67. Edward Piguet died the following year. Certain of their models became symbolic of the skill and technique of Audemars Piguet. One of them, a minute-repeating, perpetual calendar, split-se-conds chronograph pocket watch, was presented at the Paris Universal Exhibition in 1889. They also opened stores in Paris, London, Berlin and New York. They made watches of different styles: French, English, German and American, which was a most efficient strategy. They took part in several important exhibitions and fairs. Around 1915, the company started to manufac-ture wristwatches, which were very fashionable, though still continuing the production of tra-ditional and complicated pocket watches. They made many repeating watches. In 1920, after the death of the two foun-ders, Audemars Piguet created the smallest minute-repeating watch and in 1911, the 10??? movement. All Audemars Piguet products were sold in Le Brassus, Geneva, London, Paris, Berlin and New York. The ma-nufacture worked in collaboration with important importers and retai-lers all over the world. Their clients included, among others: Dent and Frodsham in London, Tiffany in New York, Cartier and Breguet in Paris, Bul-gari in Rome, and Dürrstein in Glashütte and Dresden. After the New York Stock Exchange crash in 1929, Audemars Piguet, like other manufactures, lost a large part of their Ame-rican clientele. 1932 was the worse year in the firm?s history. The manufacture remained the property of the Audemars Piguet families and their descendants. In 1933, the economic situation of the firm was already much improved, and at the start of WWII, the major part of the Audemars Piguet production was sold to the USA. Later, seeing the strong interest from clients for skeleton wristwatches and pocket watches, Audemars Piguet included these among their standard production. They remain such today, as do their famous complicated pocket watches invented over 100 years ago.