Patek Philippe - The Geneva Watch Auction: XVII Geneva Saturday, May 13, 2023 | Phillips
  • Manufacturer: Patek Philippe
    Year: 1951
    Reference No: 2499
    Movement No: 868'247
    Case No: 665'014
    Material: 18K yellow gold
    Calibre: Manual, cal. 13''', 23 jewels
    Bracelet/Strap: Leather
    Clasp/Buckle: Patek Philippe 18K yellow gold pin buckle
    Dimensions: 36.2mm Diameter
    Signed: Case, dial, movement and buckle signed
    Accessories: Accompanied by Patek Philippe Extract from the Archives confirming production of the present watch in 1951 with "French Version" dial type and its subsequent sale on November 17, 1955 and original presentation box
    Provenance: PROPERTY OF A ROYAL FAMILY

  • Provenance

    PROPERTY OF A ROYAL FAMILY

  • Catalogue Essay

    The first series of reference 2499 is not only the most immediately recognisable of the four, as it features square pushers rather than the round ones seen on all other series, but also the most scarce. Two case makers have been employed for the case production. Consequently, first series cases present subtle differences according to the maker that produced them. The earliest examples - such as this piece - feature a Vichet case, defined by its flat caseback and lugs more “claw-shaped” and downturned. Later examples are made by Wenger - they will make nearly all of the cases for the rest of the 2499 production until 1985 - and feature a slightly larger diameter, less markedly downturned lugs, and a bombé caseback.

    Dial-wise, the first series features the same design as reference 1518. Some elements of these early 1st series dials present a variation: the date ring can be enclosed by boundaries (identical to parent reference 1518) or present no such delimitation, the numerals can be Arabic or baton. As their ancestor ref. 1518, first series dials present a tachymeter scale and railway minute divisions combined with Arabic 5-minute and baton fifth-of-a-second divisions. In fact, the earliest dial design found on 2499 - and exemplified by the present watch - features closed date ring and Arabic numerals, making it a perfect copycat of a reference 1518 dial.

    First series 2499 examples are known in yellow and pink gold and are unanimously considered to sit in the highest echelon of watch collecting. The scarcest of all series, it was in production only less than a decade, in the 1950s - though Vichet cases are not seen after 1953, making this 1953 example one of the very last to feature this element.

    The present wristwatch backs its importance as a model with absolutely unrestored and highly attractive condition. The case is in stupendous shape, perfectly maintaining the lugs’ architecture - so defining of this model, but also so sensitive to polishing - and sporting an extremely crisp hallmark behind the top left lug (and another one protected by the back, thus its great condition is to be somewhat expected) as well as sublimely preserved circular satin finish to the back.

    The dial is a vintage aficionado’s dream. Without a hint of restoration, it nonetheless sports absolutely crisp engraved/enamelled graphics without a hint of fading. Even the notoriously sensitive accent in “Genève” is unscathed. The light, even and enormously charming ivory patina grants the piece great warmth and an ineffable vintage vibe.

    Absolutely fresh to the market, this watch is without a doubt one of the most honest and charming example of this hallowed reference to appear at auction. It is furthermore consigned by a descendant of the original owner and in fact the watch can claim the title of "Royal Timepiece" as the consignor happens to be one of the last scions of an historical Royal lineage.

  • 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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Ref. 2499
A very important, rare and collectible yellow gold First Series perpetual calendar chronograph wristwatch with moonphases and Vichet case

1951
36.2mm Diameter
Case, dial, movement and buckle signed

Estimate
CHF800,000 - 1,600,000 
€833,000-1,670,000
$914,000-1,830,000

Sold for CHF2,359,000

Contact Specialist

Alexandre Ghotbi
Head of Watches, Continental Europe and the Middle East

+41 79 637 17 24
AGhotbi@phillips.com

Tiffany To
Head of Sale, Geneva

+41 79 460 55 88
TiffanyTo@phillips.com

The Geneva Watch Auction: XVII

Geneva Auction 13 - 14 May 2023