Charles Frodsham & Co.

• first quality gilt three quarter plate movement with double roller lever escapement and free sprung regulation, Guillaume balance with spiral blued steel balance spring and over coil, the tourbillon with Nicole Nielsen Type 2 three-arm polished steel tourbillon carriage, the back plate further mounted with Nicole Nielsen polished steel chronograph work • gold cuvette engraved From John Pierpont Morgan to Thomas Cochran to mark the occasion of his entering the firm of J.P. Morgan & Co., January 1, 1917 • Willis type "best Venetian tint"  enamel dial, Roman numerals, the outer rings calibrated for minutes and outermost ring divided into fifths, blued steel spade hour and minute hands, gold and blued steel chronograph hands, with a pair of large subsidiary dials positioned at 3 o'clock and 9 o'clock indicating constant seconds and 60-minute recorder • massive scallopped crystal case with five knuckle hinges, turning pendant, case back engraved with monogram TC for Thomas Cochran • case, dial and movement signed, the case further hallmarked, London 1917 and stamped with case maker's mark HMF (Harrison Mill Frodsham) the turning pendant marked, London and stamped with maker's mark C.H.

John Pierpont Morgan, 1917
Thomas Cochran III, 1917
By descent to the present owner

Movement running at time of cataloguing, however it was not tested for the accuracy of time. Movement might benefit from a service as the watch has remained untouched. The plates of the movement have some spotting and oxidization as they are in original un-serviced condition. Case in overall excellent and original condition. Slide and split button are in excellent crisp condition with very little wear along the edges. Hallmarks are wonderfully preserved. Dial in very good condition with no cracks or chips and all original condition. Chiming out of phase. Overall the watch is an extremely rare, untouched, wonderfully preserved collectors piece.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. All dimensions in catalogue descriptions are approximate. Condition reports may not specify mechanical replacements or imperfections to the movement, case, dial, pendulum, separate base(s) or dome. Watches in water-resistant cases have been opened to examine movements but no warranties are made that the watches are currently water-resistant. Please note that we do not guarantee the authenticity of any individual component parts, such as wheels, hands, crowns, crystals, screws, bracelets and leather bands, since subsequent repairs and restoration work may have resulted in the replacement of original parts. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue. In particular, please note it is the purchaser's responsibility to comply with any applicable import and export matters, particularly in relation to lots incorporating materials from endangered species.NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

**Please be advised that bands made of materials derived from endangered or otherwise protected species (i.e. alligator and crocodile) are not sold with the watches and are for display purposes only. We reserve the right to remove these bands prior to shipping.

Important Notice regarding importation into the United States of Rolex watches
Sotheby's cannot arrange for the delivery of Rolex watches to the United States because U.S. laws restricts the import of Rolex watches. The buyer or a designated agent may collect the property in the country of sale."

Accompanied by a Certificate of Origin dated 21 August 2013 from Charles Frodsham & Co., Ltd., confirming manufacture in 1917. The certificate further notes that the movement was supplied by Nicole Nielsen & Co. Further accompanied by a color facsimile of the original Invoice, dated April 3rd,1918  listing the purchase price of £200 and a photocopy of a letter dated April 18th 1918 from  Frodsham's to J. Pierpont Morgan regarding details of the delivery of the watch to Morgan in New York.

The present lot is a well preserved and previously unrecorded example of the Charles Frodsham/J.P. Morgan Caliber Tourbillon watch. No.09682 is one of approximately 25 pieces that were commissioned by John Pierpont Morgan to be given as gifts. This particular piece was given to Thomas Cochran III (1871-1936) upon becoming a partner at the firms of J.P. Morgan & Co. and Drexel & Co. The full presentation inscription on the cuvette is particularly unusual. The detailed inscription differs from most others known Morgan watches, whereby the cuvette is simply engraved with J.P. Morgan's initials, the gift recipient and the year.

The firm’s tradition of purchasing pocket watches made by Charles Frodsham began in 1854 when Junius Morgan moved to London to set up his bank. Three generations of Morgans (Junius, J. Pierpont, and Jack) purchased approximately 50 Frodsham pocket watches for themselves and as gifts from 1854 until 1934. It became tradition in the Morgan family to present such fine timepieces to employees and partners to recognize their outstanding contributions to the business or to the Morgan family. 

Nicole Nielsen & Co. produced a number of very fine tourbillon carriages for the great English watch and clockmaking firms of the period. Charles Frodsham, S. Smith & Son and Dent were all supplied with tourbillons as well as chronograph and repeating movements.

Thomas Cochran III was born in St. Paul, Minnesota to parents Thomas Cochran Jr. and his wife, Emilie (née Belden Walsh).  After attending Phillips Academy in Andover, Massachusetts and graduating from Yale in 1894, Cochran quickly became a highly successful businessman by founding his own investment firm, Ardsley Hall Co. in 1904. Cochran became Vice President of the Astor Trust Co. in 1913 and immediately following Cochran became President of the Liberty National Bank of New York in 1914. However, his greatest professional achievement was becoming partner of J.P. Morgan & Co. and Drexel & Co. in 1917. 

In addition to Cochran’s achievements in the financial world, he was also an active philanthropist. He was appointed to the Board of Trustees of Phillips Academy in 1923.  He spent the next several years expanding the campus, both physically and academically.  In particular, he funded the creation of the Addison Gallery of American Art and donated his personal collection of 50 Winslow Homer paintings to the school. 

Today the Charles Frodsham Company in London continues to make first quality precision timekeepers. Receiving a Frodsham & Co. watch from the Morgan Family was one of the highest honors one could achieve.  Only people with the utmost integrity and dedication would have received such a gift and the tradition continues at J.P.Morgan today. 

 For similar tourbillons by Charles Frodsham, see Meis, R., Das Tourbillon, 1986, p. 345 and Mercer, V., The Frodshams, 1981, p. 216

We gratefully acknowledge the assistance of Charles Frodsham Co., Ltd., London for their cataloguing assistance of the present lot.