Patek Philippe - The 2021 New York Watch Auction New York Saturday, December 11, 2021 | Phillips

The 2021 New York Watch Auction

New York Auction 11 - 12 December 2021

  • Manufacturer: Patek Philippe
    Year: 1907, encased in 1957
    Reference No: 699/3
    Movement No: 137’976, stamped HOX
    Case No: 691’721
    Material: 18K yellow gold
    Calibre: Manual, two train cal. 18’’’, 33 jewels
    Dimensions: 50mm Diameter
    Signed: Case, dial and movement signed by maker, dial signed by retailer
    Accessories: Accompanied by Patek Philippe Extract from the Archives confirming production of the present watch in 1907 with enameled etxerior minute track and in-line calendar display, and its subsequent sale on July 19th, 1957.

  • Catalogue Essay

    Patek Philippe has long been associated with superbly crafted timepieces fitted with watchmaking’s most prestigious complications. This family-owned brand has earned a reputation for excellence around the world with complicated vintage watches holding the highest number of world records for results achieved at auction compared with any other brand. Along with other Swiss manufacturers, Patek Philippe’s early history begins with the production of pocket watches, which during the 19th and early 20th centuries were fashionable. Their production included time only watches, minute repeaters, watches with petite and grand sonnerie function, along with chronographs and perpetual calendars. One of their rarest mechanical innovations was the two train trip minute repeater. A two train movement allows for tandem winding through the crown to power both the going train and the repeating mechanism. It is believed that due to their high cost and difficulty to manufacture, they were produced in very few examples between 1899 and 1912 with many sent to the American market.
    The present reference 699/3 is an utterly superb example of a two-train trip repeater, made all the more extraordinary as it is combined with a perpetual calendar presenting the day, date, and month in an “in-line” display. Produced in the mid-20th century, the in-line design was far ahead of its time, serving as the inspiration to Patek Philippe’s latest perpetual calendar wristwatch, the reference 5236P introduced this year.

    This watch has an unusual production history, which is similar to other examples from the series with the movement manufactured in 1907, but not encased until 1957. Similar to other reference 699 models, the watch was sent to the United States, a detail confirmed by the HOX export mark found on the movement, and the prestigious “Tiffany & Co.” retailer signature on the dial. The contemporary look of the watch is maintained through the trip mechanism found in the crown. Unlike traditional repeating watches with the repeat function activated through a slide in the band, the reference 699/3 uses the crown. When the button in the crown is pressed, the minute repeater is activated. By eliminating the slide, this rare mechanical system enabled a clean, modern design.

    Research indicates there are only two known reference 699 models with two train movements. The present example is the only ref. 699/3 known, made all the more extraordinary with the coveted ‘Tiffany and Co.’ signature on its dial, making it a possibly unique timepiece. Having remained part of a prestigious collection for a decade and preserved in outstanding overall condition, this Patek Philippe is a watch connoiseurs dream. It is an ultimate representation of the best of 20th-century horology.

  • 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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Patek Philippe

Ref. 699/3
A spectacular, important, and probably unique yellow gold, two train, trip minute repeating openface straight line perpetual calendar watch with moon phase, retailed by Tiffany & Co.

1907, encased in 1957
50mm Diameter
Case, dial and movement signed by maker, dial signed by retailer

Estimate
$200,000 - 300,000 
CHF187,000-280,000
€178,000-267,000
HK$1,560,000-2,340,000

Sold for $504,000

Contact Specialist

Paul Boutros

Head of Watches, Americas

+1 (212) 940-1293

WatchesNY@Phillips.com

 

The 2021 New York Watch Auction

New York Auction 11 - 12 December 2021