Important Modern & Vintage Timepieces

Geneva, May 13, 2012

LOT 469

PATEK PHILIPPE, REF. 2523, WORLD TIME, GUILLOCHE GOLD CENTER Patek Philippe & Cie, Genève, No 722702, case No 306207, Ref. 2523 HU (Heures Universelles). Made in 1953, sold on October 10th, 1956. Extremely fine and extremely rare, "World Time", 18K yellow gold gentleman?s wristwatch with two crowns and guilloche dial with an 18K yellow gold Patek Philippe buckle. Accompanied by the Extract from the Archives and a Patek Philippe overhaul dated Mai 2011.

CHF 500,000 - 700,000

USD 550,000 - 750,000 / EUR 415,000 - 580,000

Sold: CHF 1,190,500

C. Three-body, solid, polished and brushed, lapidated curved lugs. D. Matte silver revolving ring dial bearing the names of 41 places in the world, at the center, guilloche gold with applied yellow gold baton and roman indexes, concentric, revolving 24-hour dial for the nocturnal and diurnal hours. The winding-crown on the 3 adjusts the hours and the 24-hour ring; the winding-crown on the 9 turns the ring with the city names. Yellow gold "fancy" hands. M. Cal. 12???-400 HU, stamped with the Geneva quality hallmark, rhodium-plated, "fausses-côtes" decoration, 18 jewels, straight line lever escapement, cut bimetallic balance, shock-absorber, Breguet balance-spring, micrometer regulator. Dial, case and movement signed. Diam. 36 mm. Thickness 11 mm Property of the Original Family - never offered at auction before


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Grading System
Grade:
Case: 2-8

Very good

Slightly scratched
Movement: 2

Very good
Dial: 2-01

Very good

HANDS Original

Notes

Bought new by the family of the consignor, this 2523 has remained in amazing unpolished condition. The lugs still exhibit their sharp defi nition and angles as it would have had upon its sale in 1956. The hallmark to the lug is deep and clearly visible but even more amazing are the three hallmarks in the center of the caseback, two owls representing the gold importation hallmark for 18k and the stamp JG, for Jean Guillermin the famed French Patek Philippe retailer. Sent to Patek Philippe for an overhaul in May 2011, the owner was very specifi c that the watch should only have the movement serviced to ensure good timekeeping but to leave the case in its original untouched condition. According to our research, there has only ever been one other yellow gold 2523 with gold guilloche center bearing the movement number 722700 (only 2 numbers from this example) sold at Antiquorum (lot 410, 15th December 1990). By observing the number of pieces of this reference to have been offered at auction, we can say with certainty that the gold Guilloche center examples are the rarest, found less often than both the cloisonne and regular silver dial versions.