Sotheby's Important Watches I 4th October 2024
By Wouter Van Wijk
Here are some of the interesting lots of this auction.
The earliest known watch made from tantalum was an Audemars Piguet Royal Oak, commissioned by King Juan Carlos of Spain. The king wanted a subtler version of the Royal Oak to prevent reflections from scaring off his prey while hunting. Initially, he gave one of his Royal Oaks to his gunsmith, who attempted a bluing technique similar to that used on gun barrels, but the results were unsatisfactory. Audemars Piguet then devised a solution by using tantalum, a material known for its natural dark grey-blue sheen, to achieve the discreet look the king desired.
The first tantalum watches produced in series were two quartz-powered Royal Oak models released in 1988: the 33mm two-tone Royal Oak ref. 56175TR, combining tantalum with rose gold, and the ref. 66270TT, blending tantalum with titanium.
What we have here is a really rare limited edition AP Royal Oak perpetual calendar made of only 15 pieces. What makes it so cool is not only the use of two different metals which had been done before with the Royal oak perpetual (wg/yg as well pink gold/yg), but the use of tantalum which is super rare in the large Royal Oak models due to complexity of handling this metal while manufacturing. (higher melting point 300 degrees compared to 1000 degrees for stainless steel as well as hard on tooling cause it heats back on the tools so that you have to use slower machining speeds). AP only made 1587 Royal Oak perpetual calendars between 1983-1993 of which only 15 in this configuration. In 2012 AP made one other super limited edition with tantalum for their 40th anniversary year, only 13 examples of the openworked model 25829TR version in tantalum and rose gold, but the 25829TR.OO.0944TR.01 was the first of its kind.
Estimate1,200,000 - 2,800,000 HKD
A gem from the quartz crisis era, the IWC Yacht Club is Gerald Genta’s interpretation of the "Jumbo" sports watch, introduced in the 1970s. Featuring Genta's signature octagonal bezel and integrated bracelet, this version is enhanced with diamond hour markers and a "bark wood" pattern on the case. The clasp bears the mark of Gay Frères, the legendary bracelet maker.
As part of IWC's effort to stand out with sophisticated sports watches, the Yacht Club series was launched in 1967, offering a modern, sporty design. This particular example, with its rare large size, black dial, and white gold with a bark finish, is incredibly rare—virtually unobtainable. Watch seems to be in very good overall condition. Find me another one!
Estimate 220,000 - 400,000 HKD
The First 25 Pieces for Beyer (1985)
According to John Reardon of Collectability, the release of the Patek Philippe Ref. 3940 is closely tied to Beyer Chronometrie, Switzerland’s oldest watch retailer, established in 1760. Philippe Stern introduced the ref. 3940 in 1985 to mark Beyer’s 225th anniversary, as a gesture of friendship towards Theodore Beyer. The first 25 models were uniquely crafted with numbered dials for Beyer. Numbers 1 to 15 feature a German dial, while numbers 16 to 25 have an English dial. These exclusive pieces were delivered to Beyer in May 1985.
The first piece, with movement number 770.001 and German N°1 dial, was gifted to Theodore Beyer himself. The second, with movement number 770.002 and N°2 dial, was sold to renowned collector Eugen Gschwind on July 9, 1985, and is now housed in the Patek Philippe Museum in Geneva. The third piece, movement number 770.003 with N°3 dial, remains unaccounted for and has been featured in Beyer Chronometrie's advertisements. Thse first 25 pieces have an italic written font with the limited numbers 1 to 25 on the 6 hour day and moonphase sub dial.
In addition to the limited edition Beyer anniversary models, some regular production Ref. 3940s were also stamped with the Beyer signature on the dial. However, Beyer wasn’t the only retailer to have their name on a 3940. A few examples with Tiffany & Co. and Gübelin signed dials have also surfaced on the market. Though there is no exact count of how many exist, it’s believed that these are even rarer than the Beyer pieces. Only a small number of Tiffany and Gübelin-signed models have appeared for sale, underscoring their rarity.
What we have here is one of the latter examples in great condition. Case has been polished, but the hallmarks are stated in the condition report to be still visible.
Estimate 300,000 - 600,000 HKD
Here we have a contemporary full size Simplicity in yellow gold. This is as good as it gets, since it has set the bar in modern finishing. Philippe Dufour, one of the most renowned independent watchmakers, is celebrated for his mastery in crafting handmade watches. Born in 1948 in Le Sentier, Vallée de Joux, into a family of watchmakers, Dufour began his career after graduating from the Ecole d’Horlogerie in 1967. Initially working for established brands, he later shifted to restoring vintage timepieces, where he developed a passion for intricate complications. Dufour soon began creating his own pieces, including the Grande Sonnerie and Petite Sonnerie.
In 2000, he introduced the Simplicity, a watch entirely handcrafted by Dufour, showcasing traditional watchmaking methods. Despite its name, the complexity of its movement contrasts with its minimalist design. This 37mm pink gold example, with a white lacquer dial and blue Breguet hands, demonstrates impeccable craftsmanship. Limited in production, the Simplicity is further distinguished by the rare PD stamp on its movement.
Estimate:2,600,000 - 4,000,000 HKD
This is a Daniel Roth from the golden age. After his 14 year stinth at Breguet where he developed the new modern look for Breguet while showing respect to the work of Abrahan Louis Breguet, Mister Roth left the Breguet after the brand went bankrupt under the weigh of the Chaumet brothers.
With the launch of his first watch in 1988 branded under his own name, the double-face Reference 2187/C187 with tourbillon, he made his mark forever. Roth became a pioneer of independent watchmaking, and within only a couple of years, Daniel Roth watches had become a firm favourite with collectors.
The Double Face Tourbillon C187 incorporates many classic Breguet design elements, including a finely executed Clous de Paris guilloché pattern, blued hands, and an offset dial framed by a circular-grained chapter ring. At six o’clock, it showcases a one-minute tourbillon with a unique triple-armed seconds hand, where three blued steel hands of varying lengths sweep over three different seconds scales as the tourbillon rotates.
The reverse side features a power reserve indicator and a calendar sub-dial. Powering this timepiece is a reworked Lemania tourbillon movement, originally developed by Roth at Breguet. The movement is refined with a black-polished, rounded tourbillon bridge, and each ebauche was modified to fit within the unique case design.
So if you are looking for an early Daniel Roth, look no further cause this is the genesis of the brand and a super interesting piece by one of the early independents.
Estimate 240,000 - 320,000 HKD
This Vacheron is an iteration of the Kalla line. The Kallista watch traces its aristocratic heritage back to 1979, when it was crafted as a masterpiece of jewelry and horology. Commissioned for a private client, Vacheron Constantin enlisted renowned French painter Raymond Moretti to design the timepiece. Moretti's design marked a significant moment in watchmaking history, as the watch was sculpted from a single yellow gold ingot and adorned with 118 emerald-cut diamonds, totaling an impressive 130 carats.
The prototype, stored in Vacheron Constantin's archives in Plan-les-Ouates, features an abstract depiction of a man and a woman on the caseback—symbolizing a couple's bond, a personal request by the original clients. Named Kallista, derived from the ancient Greek word kallisté, meaning "the most beautiful," the watch was celebrated as the most expensive in the world at the time.
This actual piece is actually set with 276 baguette-cut diamonds and accompanied by eight additional links set with 48 baguette-cut diamonds. Giving this magnificent watch a total carat weight of between 48 and 50 carats.The retail price of these pieces used to be absolutely bonkers. One of owners of a Kalla watch has been Elton John.
Estimate 1,000,000 - 2,000,000 HKD
This Richard Mille RM002-V2, one of the brand’s earliest creations, embodies the innovation and design philosophy that defines Richard Mille. With its cutting-edge materials and complex mechanics, it captures the essence of the brand and is undoubtedly poised to become a future
The RM002 was Richard Mille’s second model and the brand’s first tourbillon watch featuring a titanium baseplate, with a time-setting and winding system inspired by sports car gearboxes. An early and rare example, this particular watch includes a unique titanium buckle engraved with "RM002," adding to its appeal for collectors.
Estimate 1,200,000 - 2,400,000 HKD
This lange is just a pure sleeper. From then outside a plain and simple time only with a running seconds sub dial. But when you take a look at the back you see an astonishing movement. This is old school pocket watch haute horlogerie. But then from Saxen, Germany. When you take a further look you will see the chain and fusee mechanism. The chain winds around the barrel and slowly unwinds onto the fusée. As the circumference increases, the leverage increases. This compensates for the diminishing torque of the barrel, which ensures even power transmission. It’s not that rare, supposed to be produced in in a limited edition of 200 pieces, but the complexity (consisting of 915 components) and flying low under the radar capabilities make this a force to reckon.
Estimate 200,000 - 400,000 HKD
This is the newest split seconds perpetual calendar chronograph with an inhouse movement, actually the first time they made it in house instead of based on the goold old Lemania 2310. This particular execution has already been delisted. Why want to point you out here? This is a great opportunity to get a Patek grail well below retail (current RSP about 340k USD)
Estimate 1,200,000 - 2,000,000 HK
The Legacy Machine 1 was actually supposed to be the fifth horological machine, but Max Büsser wasn’t satisfied with the early designs. Those prototypes resembled another watch from a previous era of independent watchmaking, prompting a shift in direction. Ultimately, the design evolved into the iconic LM1 with its signature round case. As you may recall, the original Legacy Machine N°1 (LM1) debuted in late 2011. It marked a significant departure from our highly unconventional Horological Machines, serving as a direct tribute to traditional watchmaking. This example is an early LM1 from 2011.
Estimate 580,000 - 700,000 HKD
This watch is under the hype radar but this is truly remarkable Patek. The first split-seconds chronograph wristwatch, crafted by Patek Philippe in 1923, was a 30mm mono-pusher with an enamel dial. This groundbreaking piece sold at auction in 1999 for nearly $3M USD.
In 2005, Patek Philippe paid tribute to this historical watch with the release of the reference 5959, featuring a 33mm case and the brand’s first in-house chronograph movement, the CHR 27-525 PS. At just 5.25mm thick, it became the world’s thinnest split-seconds chronograph. Initially launched in platinum, the 5959 came with a choice of either a black or white dial. Watch is superb condition.
Estimate 1,780,000 - 2,400,000 HKD
The reference 2526 is Patek Philippe’s first self-winding wristwatch, a significant milestone for the brand. Patek took immense pride in this innovation, finishing the movement to an exceptionally high standard, even though it remains hidden beneath a solid screw-down case back. The dial, crafted from enamel, was chosen for its durability and resistance to tarnishing.
This particular example is one of only 23 known in platinum to have surfaced on the market. It stands out with its original PP crown and an exceptionally well-preserved case, featuring strong hallmarks and crisp case back inscriptions, all clearly legible to the naked eye.
This is a quite difficult to find iconic “Calatrava” kind of watch from Patek in white metal which is very hard to find these days and then in particular retailed by Serpico Y Laino a retailer from a bygone era. Founded in 1925, Serpico y Laino was the leading luxury watch retailer in Venezuela for roughly 40 years until their closure in 1966.
Some of the Patek lots within this catalog are in less attractive condition. Reading the condition report of this platinum 2526 this seems to be a very attractive piece and a possible cornerstone in every serious Patek collector’s collection. Those who want to bid just ask auction specialists for movement pictures. Please take notice that the following lot 2346 is also a 2526 retailed by Serpico y Laino but then in yellow gold with a super nice bracelet.
Estimate 1,200,000 - 2,400,000 HKD
This is just an incredible beautiful dial with super attractive patina. The Rolex Submariner Ref. 16808 is a striking example of the brand's iconic dive watch, crafted in 18k yellow gold. This particular piece showcases a rare tropical dial, which has developed a rich jade-green patina over time. The unique color shift, a result of prolonged exposure to UV light and environmental factors, adds an appealing vintage charm and enhances the watch's distinct character. This is just a super nice example of a golden Submariner with a incredible patina dial and super attractive unpolished case.
Estimate 320,000 - 480,000 HKD
Introduced in 1942, reference 1527 came in two distinct series: the first featured subsidiary seconds powered by the calibre 12'''120, while the second boasted center seconds driven by the 12-120 SC movement. Typically crafted in pink or yellow gold, fewer than a dozen examples were encased in stainless steel, making these exceedingly rare.
This particular example, housed in steel with indirect center sweep seconds, achieves an exquisite balance between its white metal case and two-tone silvered dial. It exemplifies the elegance and craftsmanship expected from a vintage Patek Philippe timepiece.
Extremely rare, this watch is possibly the only known steel example to surface on the public market, last appearing at auction in 2018 sold at that time for 40k USD. Although a super interesting piece one might need to take into account that the dial is very clean and has been reprinted during a service.
Estimate 300,000 - 500,000 HKD
The Reference 2524/1 was introduced in 1952 and produced until the late 1960s, featuring a three-part case with a snap-on bezel and case back, made by Emile Vichet (marked with Geneva Master key stamp 9). Fewer than 50 examples of the Reference 2524, 2524-1, and 2524-2 were made, powered by the First Quality Fritz Piguet calibre 12 24-12''' movement.
This particular watch is the fourth known 2524/1, with fewer than a dozen believed to exist. It is in excellent original condition, featuring Dauphine hands, faceted bullet hour markers, and a well-preserved dial with crisp enamel and minute scale. The case shows sharp hallmarks and defined lugs, while the minute repeater delivers a clear, harmonious chime, making it an outstanding example of this rare reference. In love with this piece. Super attractive Patek’s finest. Lot was sold at Christies in 2020 for HKD 6,125,000
Estimate 4,500,000 - 8,000,000 HKD