Important Modern and Vintage Timepieces
New York, Mar 10, 2011
LOT 264
Patek Philippe Ref. 5125P, Platinum For Wempe Patek Philippe, Genève, retailed by Wempe, No. 017/100, movement No. 3360357, case No. 4215596, Ref. 5125P. Made in a limited edition of 100 pieces in 2003 to commemorate Wempe?s 125th anniversary. Very fine and very rare, center-seconds, self-winding, water-resistant platinum wristwatch with semi-instantaneous digital triple date annual calendar, moon phases and 24 hour indication, with a platinum Patek Philippe deployant clasp. Accompanied by a fitted box, certificate, caseback, setting pin, booklet, and certificate from Wempe.
USD 70,000 - 90,000
CHF 70,000 - 90,000 / EUR 50,000 - 65,000
Sold: USD 92,500
C. Three-body, solid, polished and brushed, screwed-down transparent case back and crown, case back engraved "Patek Philippe - 125 Jahre Wempe", protected screw-down winding crown, concave lugs, sapphire crystals. D. Black with applied white gold baton indexes, subsidiary dial for the 24-hour indication, apertures for the date, the days of the week, the months and the moon phases. White gold dauphine hands. M. Cal. 315-203, stamped with the Seal of Geneva Quality Mark, rhodium-plated, fausses cotes decoration, 35 jewels, straight line lever escapement, free-sprung Gyromax balance adjusted to heat, cold, isochronism and 5 positions, shock absorber, self-compensating flat balance spring, 21K gold rotor. Dial, case and movement signed. Diam. 37 mm. Thickness 11.5 mm.
| Grading System | |
|---|---|
Grade: |
|
Case: 2 |
Very good |
Movement: 1 |
As new |
Dial: 1-01 |
As new HANDS Original |
Notes
In 1878, with a mere 80 Marks in pocket, the young watchmaker Gerhard D. Wempe opened a watch and jewelry business in his Aunt Caroline's house in the small German town of Elsfelth, just outside the northern city of Bremen. Business went well for the young entrepreneur and in the years to come he moved his venture to Oldenburg and later to Hamburg, where in 1907, he established the company's "Stammhaus" or "flagship store". By 1914 Wempe had opened 4 more stores in Hamburg. However, with World War I sales dropped considerably. When Gerhard D. Wempe died in 1921, his son Herbert took over the business concentrating on exclusive connections to Swiss watch brands such as Omega and Longines. He further extended the business, buying in 1938 the famous "Hamburger Chronometerwerke" factory, an important manufacturer of ship's chronometers known for producing high precision nautical instruments. World War II again brought personal and professional difficulties. During this time, several stores were destroyed and 80% of the workforce was without housing. In 1945 the company management was handed over to a trustee, and in 1951, the 19 year old son Hellmut had to take over the business. By 1953 Wempe again had 5 stores in Hamburg and by 1960s had opened additional stores in several other German cities. In 1980, Wempe entered the international scene with the opening of its US flagship store on New York's Fifth Avenue. Stores were also opened in Paris, Vienna, London and Madrid. Since 2003 daughter Kim-Eva Wempe, who joined the firm in 1987, officially heads Germany's most respected watch and jewelry retailer. Today, Wempe has over 500 employees and 26 branches worldwide and additionally operates in Hamburg the largest watch repair and service facility of any retailer in Europe