This watch was just overhauled by the Patek Philippe Manufacture.
This watch ranks amongst the very rarest wristwatches ever made by Patek Philippe. It is certainly one of the most important early Patek Philippe chronographs known to exist, and one of the very earliest to use the split-seconds mechanism. The series of splitseconds chronograph wristwatches to which the present watch belongs was started in 1927 using ebauches from Victorin Piguet. The present watch was made in 1928 and is therefore one of the first wristwatches with split-seconds chronograph to be made at Patek Philippe. Just as the company were starting to develop more complicated models of wristwatch during the second half of the 1920s, the economic situation took a severe downturn culminating in the Great Depression which started on October 1929. This effectively halted the further manufacture of such watches, which rather neatly from today?s perspective gives two distinct periods for the manufacture of Patek Philippe wristwatches with split-seconds chronographs : those made before 1930 and those made after 1938 when the reference 1436 (see lot 161) was introduced as a production model. Naturally those watches made up to 1930, including the present watch, are now amongst the most desirable of all for watch connoisseurs. It is very interesting that although made in 1928, the present watch was not in fact sold until 1938. Evidently it was fully finished with dial and case in 1928 and ready for sale by Tiffany & Co., New York, which suggests that it was indeed the Depression that prevented its sale in the 1920s. Fortunately, the buyer of the watch in 1938 did not feel that it needed updating in any way so that the original dial, hands and case were retained. This watch has had very few owners since it was first bought in New York in 1938 and has escaped the ravages of heavy wear and overly zealous restoration, making it an exceptionally rare survival. It was rediscovered in Australia in 2004, where it had been for at least the previous 25 years and perhaps for much longer.
Chronology of the Known Surviving Patek Philippe Split-Seconds Wristwatches made up to 1930 Every example sold previously by Antiquorum. 124.824 - made in 1922, sold in1923 - Sold by Antiquorum, Geneva, November 14, 1999, lot 448. (at the time a world record price for any wristwatch: $1,918,387). 198.012 - made in 1925, sold in 1927 - Sold by Antiquorum, Geneva, April 9, 1989, lot 290. 198.098 - made in 1927, sold in 1937 - Sold by Antiquorum, Geneva, April 20, 1996, lot 263. 198.206 ? made in 1928, sold in 1938 - The present watch. 198.369 - made in 1930, sold in 1934 - Sold by Antiquorum, October 21, 1995, lot 916.
Split-Seconds Chronograph A split-seconds chronograph or 'rattrapante' is a type of chronograph watch with two coaxial superimposed center-seconds hands that are controlled by two push-buttons. One push-button controls the split-seconds hand to stop or join the chronograph hand. The other push-buttons control both hands and all the functions of the chronograph. The chronograph hand and the split-seconds hand are used for timing several events that start simultaneously, but are of diffrent durations. To operate the split-seconds chronograph, both hands are started and remain superimposed. Then at the end of the first duration, the split-seconds hand can be stopped while the chronograph hand continues to move. The duration of the first event can be read. After recording, the split-seconds hand can be released to instantly move and join the chronograph hand, synchronizing with it and thus being ready for another recording. At the end of each event the hands then can be stopped and returned to zero. The split-seconds chronograph, in its present form, was first introduced in 1880. As they require a highly complicated and technical mechanism, these watches are desirable, very collectible and extremely difficult to produce accounting for their rarity.
The Case This watch is one of only two known wristwatches with split-seconds chronograph in an Officer case. What makes the case of the present watch unique is that the curved lugs ? unusual in themselves ? can be unscrewed at one end and hinge open so that the strap can easily be changed.
The Dial This watch is one of only two known early period Patek Philippe split-seconds wristwatches with vertical registers and the only one with Officer case. The unrestored dial and hands are exceptional for any wristwatch of this date and especially so in this highly important wristwatch. Also, the watch retains its original strap and period gold buckle.
Literature : Patek Philippe, Geneve, Huber & Banbery, first edition, 1988, pp. 206-207; Tiffany Timepieces, John Loring, 2004.