Patek Philippe - The Geneva Watch Auction: FIVE Geneva Friday, May 12, 2017 | Phillips

The Geneva Watch Auction: FIVE

Geneva Auctions 13 – 14 May 2017

  • Manufacturer: Patek Philippe
    Year: 1950
    Reference No: 1579
    Movement No: 867'844
    Case No: 660'217
    Model Name: “Anse a Ragno”
    Material: 18K pink gold
    Calibre: Manual, cal. 13''' 130, 23 jewels
    Bracelet/Strap: Leather and 18K pink gold Gay Frères bracelet, max length 180mm.
    Clasp/Buckle: 18k pink gold Patek Philippe buckle stamped PPCo and 18K clasp stamped SYL, GF and 4.54
    Dimensions: 36mm. Diameter
    Signed: Case, dial, movement and bracelet signed, case and bracelet furthermore signed for Serpico y Laino, bracelet also signed Gay Frères
    Accessories: Accompanied by Patek Philippe Extract from the Archives confirming production of the present watch with raised hour markers in gold in 1950 and its subsequent sale on 22 December 1950.

  • Catalogue Essay

    This superlative chronograph wristwatch, retailed by Serpico y Laino in Venezuela, is with great certainty among the best examples of reference 1579 to ever appear on the market. Such statements have become common place today, and some have even banned its use. Yet, there could not be a better way to describe the present watch. Introduced to the market in 1943, the reference most notably features faceted lugs that have been dubbed "spider lugs" by collectors, due to their unusual shape. The model responds particularly badly to polishing, as even the lightest intervention dulls its sharp angles.

    At first glance, one cannot help but marvel at the extraordinary condition of the case. It is, in our opinion, among the few examples to have remained in unpolished condition today. Featuring an incredibly sharp hallmark to the band and beneath the lug, the watch also displays a deep assay mark punched next to the pusher, which is visible without the aid of a loupe. Furthermore, there is an S&L engraving and 18K gold mark on the case back. Such markings were always applied to the case back of South American imported watches. One can surmise that frequent wear has caused the case back engravings to dull slightly, which is fitting as pink gold is particularly soft and malleable.

    The dial is also preserved in excellent condition, and the enamel remains nicely raised. Its two-tone design is truly stunning, with the inner railroad track slightly more silver in nature than the rest of the dial, contrasting with the pink gold numerals and markers.

    Even rarer still, the heavy and luxurious pink gold bracelet is also stamped SYL for the retailer. Manufactured by Gay Frères, the clasp is stamped 4.54 for the fourth quarter of 1954. One can conclude the bracelet was ordered by the client as a special addition to complement his or her beautiful wristwatch.

    Such incredibly preserved examples hardly ever grace the market. Yet, to have one, retailed by Serpico y Laino and further accompanied with a retailer-stamped Gay Frères bracelet, is virtually unheard of. Indeed, the present watch is the only known pink gold reference 1579 retailed by Serpico Y Laino, which propels this watch to new heights in both scholarship and collectibility.

  • Artist Biography

    Patek Philippe

    Swiss • 1839

    Since its founding in 1839, this famous Geneva-based firm has been surprising its clientele with superbly crafted timepieces fitted with watchmaking's most prestigious complications. Traditional and conservative designs are found across Patek Philippe's watches made throughout their history — the utmost in understated elegance.

    Well-known for the Graves Supercomplication — a highly complicated pocket watch that was the world’s most complicated watch for 50 years — this family-owned brand has earned a reputation of excellence around the world. Patek's complicated vintage watches hold the highest number of world records for results achieved at auction compared with any other brand. For collectors, key models include the reference 1518, the world's first serially produced perpetual calendar chronograph, and its successor, the reference 2499. Other famous models include perpetual calendars such as the ref. 1526, ref. 3448 and 3450, chronographs such as the reference 130, 530 and 1463, as well as reference 1436 and 1563 split seconds chronographs. Patek is also well-known for their classically styled, time-only "Calatrava" dress watches, and the "Nautilus," an iconic luxury sports watch first introduced in 1976 as the reference 3700 that is still in production today.

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Σ116

Patek Philippe

Ref. 1579
A fine, rare and exceptional pink gold chronograph wristwatch with "spider" lugs, two-tone dial and Gay Frères bracelet, retailed by Serpico y Laino

1950
36mm. Diameter
Case, dial, movement and bracelet signed, case and bracelet furthermore signed for Serpico y Laino, bracelet also signed Gay Frères

Estimate
CHF100,000 - 200,000 
€92,600-185,000
$99,100-198,000

Sold for CHF200,000

Contact Specialist
Alexandre Ghotbi
+41 22 317 81 89

The Geneva Watch Auction: FIVE

Geneva Auctions 13 – 14 May 2017