Yellow gold watches haven’t been auction favorites. That notion’s however just twisted on its head with the exceptionally rare Patek Philippe Ref. 2523 going for a record-breaking $7.8 million. This is not only the most for a Patek Philippe World Time but also the most for a yellow gold watch at an auction.
Amid the fiercely battled bid war at the recently concluding Phillips’ Geneva Watch Auction XIII, the rare example of the Louis Cottier-designed Patek Philippe, created in 1953, was sold for the record-shattering $7.8m to an anonymous bidder over the phone.
A rare deal
While the world is reeling under the pandemic, collectors showed no signs of going easy at the watch auction that displayed an immense demand for rare, museum worth timepieces.
This rare Patek Philippe 2523 is one of the only three example ever made – one of the other two is housed in a private collection and one is in the PP’s own museum. When it was known that this timepiece is going to go under the hammer, it was estimated to be the show stopper with bids up to $4 million.
The watch was however to become the most expensive Patek Philippe World Time, going beyond every earlier hammer price to settle at a record-breaking price. The exclusive rarity feature two-crown design and a wonderful cloisonné enamel dial.
More about the watch
This 36mm yellow gold case wristwatch has a dial divided into three circular zones. The innermost a cloisonné enamel map with hints of marine blue, turquoise and green colors, a 24 hour counter on the next ring and the otter most ring to tell time of 40 cities inscribed around the dial.
The watch powered by in-house caliber 12-400, hand-wound movement feature two crowns, one for winding the watch and setting the hands and the other to control the rotating inner ring to tell the time in 40 different cities. Patek Philippe Ref. 2523 comes paired with a leather strap.