Hot on the heels of Christie's US$162m inaugural sales of 20th and 21st Century Art at its new Asia-Pacific headquarters at The Henderson, the auction house is now shifting its focus to luxury items.
For watches, taking the lead in the live auction Important Watches: Featuring "The Collectibles" Part 2 on 27 October is a possibly unique and only known Patek Philippe ref. 1518 printed with "FAB. SUISSE", carrying an estimate between HK$16 and 32 million (US$2 - 4 million).
Also not to be missed are Patek Philippe's ref. 5074/1R minute repeater and perpetual calendar with a solid gold bracelet, the first example ever seen with a factory-fitted bracelet, and a museum-quality Rolex Deep Sea Special designed to withstand the depths of the ocean. Both pieces are estimated to sell for between HK$5 and 10 million (US$640,000 - 1.28 million).
Lot 2475 | Patek Philippe | Ref. 1518, only known "FAB. SUISSE" | 18k pink gold perpetual calendar chronograph writstwatch with moon phases and French calendar
Manufactured in 1951
Case: 35 mm
Estimate: HK$16,000,000 - 32,000,000 (US$2 - 4 million)
Perhaps the holiest of grails for vintage timepiece collectors, Patek Philippe's ref. 1518 is a symbol of the "golden age" of mid-20th century watchmaking and a milestone watch in horological history: it is the first ever wristwatch powered by a serially produced perpetual calendar chronograph movement – a ground-breaking feat considering the tiny size of the watch's case.
Launched during the middle of the Second World War, in 1941, the reference could be categorized into two series based on case details. The one on offer at Christie's belongs to the second series produced between 1946 and 1953, with the case crafted by Geneva Master case maker Emile Vichet and the dial by celebrated artisan Stern Frères. Compared with the first series, the second features slimmer lugs, a larger crown, and lower-set chronograph pushers.
During a short 14-year production run, only 281 examples were ever made, making it one of the rarest of all Patek Philippe wristwatches. Of these meager pieces, the majority were cased in yellow gold, a handful in stainless steel, and no more than 60 in pink gold, with only 46 identified. Among all those, the present lot is the only example with "FAB. SUISSE" dial known to have survived.
Unlike other 1518s with a double-signed dial, "FAB. SUISSE" does not represent a retailer like "Tiffany & Co." or "Gobbi Milano" but rather signifies "Fabrique Suisse", French for "produced in Switzerland", a mark seen only on watches exported to France.
It was due to an 1892 French law that prohibited any imports of goods that could mislead consumers into thinking they were made in France. To further strengthen the regulation, around 1936 it was updated that the marking for horological products must be placed as close as possible to the make itself, usually immediately below. Only small watches, where space's not allowed, could have it below the 6-hour marker.
At the time, France was a relatively small market; coupled with ref. 1518's limited production scale, having one imported there was rare. Over time, as France gradually loosened the policy under European integration, watchmakers were allowed to use English terms such as "Swiss made", which many preferred for easier global sales, making timepieces with a "FAB. SUISSE" mark extremely rare finds.
Besides the "FAB. SUISSE" designation beneath the moon phase, all other necessary French import marks are stamped on the back, including the "double-owl" French import mark and the mark of Guillermin & Mollet, the French official importer. Naturally, the calendar discs are in French.
Lot 2354 | Patek Philippe | Ref. 5074/1R-010 | A possibly unique 18k pink gold automatic "cathedral" minute repeating perpetual calendar wristwatch with moon phases, 24 hour, leap year indication and bracelet, single sealed
Manufactured circa 2019
Case: 42 mm
Estimate: HK$5,000,000 - 10,000,000 (US$640,000 - 1.28 million)
Embracing new watchmaking technologies while retaining Patek Philippe's classical design, the ref. 5074 launched in 2001 is a prime example of the brand's "Modern Classic" concept in the new millennium.
Aesthetically, it seamlessly blends design traits inherited from classic references such as 1518 and its celebrated successor 2499. The dial with its three subsidiary counters and no windows obviously looks back at the balanced design of perpetual calendars of the past century. The lugs as well are unmistakably inspired by ref. 2499, with the outer top edge of each sculpted with a subtle groove.
Technically, ref. 5074 incorporates Patek Philippe's legendary "Cathedral" minute repeating mechanism, a complication consisting of gongs and hammers that chimes the time when a push or a slide-piece activates. Whereas the simple quarter repeater merely strikes the number of hours and quarters, the minute repeater, as its name suggests, chimes the time down to the minute, with three different tones for hours, quarter-hours, and minutes.
In a standard repeating mechanism, the length of the gong would correspond to almost precisely one turn in the movement. Those of the "Cathedral" mechanism, however, would exceed the case circumference by at least one and a half, even two turns, resulting in a much richer and fuller timbre resembling the chime of the bells of a grand cathedral.
The present lot is in its original packaging
Thierry Stern, President of Patek Philippe
Crafting one such minute repeater watch poses even greater challenges than constructing a tourbillon: only when over 100 unique components are manufactured, assembled, and set to extremely exact tolerances can the sound be delivered; the process can take up to 500 hours.
However, for Patek Philippe, the industry leader in complicated watches, the real challenge lies in producing a rich and convincing sound that offers a pleasing acoustic experience akin to that of a musical instrument.
To achieve that perfect sound, each Patek Philippe minute repeater has to pass rigorous acoustic testing before leaving the manufacture. Once the watchmaker is satisfied with the gong tones, the watch goes to a soundproof chamber from which the minute repeater chimes are recorded and their sound waveforms analyzed. After being tested again by a senior watchmaker specializing in chiming complications, the watch would be sent to Patek's President Thierry Stern, who by ear verifies and certifies the sound quality.
Due to the complexity of its movement, production for minute repeater calendar watches is limited to a very small quantity per year. For ref. 5074, records suggest that less than 100 pieces were ever made, with cases in yellow gold, pink gold, and platinum. The present lot, cased in pink gold, is the only known example with a bracelet and remains in its original condition.
Lot 2427 | Rolex | Deep Sea Special, Case No.31 | A museum-quality stainless steel automatic diver's oversized wristwatch with sweep centre seconds and bracelet
Case: 43 mm
Provenance (Consolidated by The Value):
- Christie’s Hong Kong, 2 December 2009, lot 2675 (Sold: HK$3,380,000)
- An Important Asian Private Collection
Estimate: HK$5,000,000 - 10,000,000 (US$640,000 - 1.28 million)
A holy grail among Rolex collectors, Deep Sea Special is of incalculable importance in the development of the Rolex sports wristwatch as it is known today – it is the watch that survived the then-world-record dive to the Mariana Trench in 1960 by US Navy Lieutenant Don Walsh and the Swiss oceanographer Jacques Piccard.
Rolex's conquest of the deep harkens back to 1926, when Oyster, the first-ever waterproof watch, was born. Resembling an oyster shell in design, the Oyster made its name when in 1927 English swimmer Mercedes Gleitze wore one when she crossed the English Channel.
In the 1950s, in response to the increasing demand for waterproof timepieces, Rolex decided to further the concept of an Oyster case, venturing to more extreme and uncharted areas of the sea than ever before. The result is Deep Sea Special, a watch that can withstand extreme pressure underwater, reaching what was then the deepest known point in the world’s oceans, 10,908 meters.
Oyster, Rolex's first waterproof watch
Swiss oceanographer Jacques Piccard
Deep Sea Special can be divided into two distinct categories: the prototype watches, of which seven or eight pieces were made between 1953 and 1960 for extreme deep ocean dives. N° 3, specifically, was the very watch that accompanied the record-breaking dive.
The second category, of which the present watch is one of only three examples in private hands, was made around 1960 for exhibition, publicity promotion, and display purposes; the other 33 pieces now reside in museum collections. These watches feature a special engraved dedication on the case back "ROLEX, 35789 FEET, 23.1.60, 10908 METERS" to commemorate the success.
Auction Details:
Auction House: Christie's Hong Kong
Sale: Important Watches: Featuring "The Collectibles" Part 2
Preview: 24 - 29 October 2024
Date and Time: 27 October 2024 | 2:00 pm (Hong Kong local time)
Venue: Christie's New Asia Pacific Headquarters – 6/F, The Henderson, 2 Murray Road, Central, Hong Kong