Patek Philippe

• cal. 12'''400 HU manual winding nickel-finished lever movement stamped with the seal of Geneva, 18 jewels • guilloché central dial with applied baton indexes, stylized hands, inner revolving ring depicting the diurnal and nocturnal hours on silvered and black background with painted Arabic numerals, outer silvered revolving ring with the names of 41 cities from around the world • 18k yellow gold case, world time adjusted by a crown at 9 o'clock, facetted lugs, snap on case back • case, dial and movement signed • with an 18k yellow gold Patek Philippe buckle

Manual winding movement and world time mechanism in working order when cataloging. Please note that the movement has not been tested for the accuracy of time keeping and a service might be required at the buyer's expense. The watch has been serviced, very possibly by Patek Philippe, in 2006 when applying for the first Extract of the Archives of the brand. Guilloché dial very fine and nice, with minor signs of ageing in the middle, which is normal for its age. Slight service scuffs to hands, outer world time ring and plastic top. It is in our experts' opinion that the case shows light signs of polishing but edge and definition are clear, hallmarks are crisps and clear. Interior of case back was stamped twice with Ref. 2523/1, which is rare but it does happen among vintage watches during the said period. Overall in excellent condition for its age. This is a rare piece that is highly recommended. The strap of this wristwatch is made from an endangered species, please refer to important notices for further information**
"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."

With an Extract from the Archives confirming date of sale on 14 April 1975 and a presentation case. 

The ingenious “Heure Universelle (World Time)” mechanism was invented by master watchmaker Louis Cottier (1894-1966) in 1931. Worked as an independent watchmaker, he specialized in watches without hands, jumping hour or other unusual display timepieces.  By the end of WW2, his talent has already been well recognized and many of his work ended in famous pockets of historical important figures such as Harry Truman, Joseph Stalin, Franklin Roosevelt and Winston Churchill, whose “Victory watch” was offered in Sotheby’s London September 2015 auction (see sale L15053 lot 75). As intercontinental travel grew in popularity, this mechanism allows travelers to be able to quickly and efficiently tell time when switching time zones. It was then widely implemented by Patek Philippe, Vacheron Constantin, Rolex, and many other famous watch manufacturers. 

The Ref. 2523 world time wristwatch was launched in 1953 with the new two-crown system to replace the former Ref. 1415, a single crown model with its bezel engraved with cities to be switched manually. In 1957, Patek Philippe launched a derivative model Ref. 2523-1, while carrying the same mechanism as its predecessor, there are subtle differences in the design of its appearance.  When viewed from profile, the lugs are no longer above the bezel and are slightly less raised with less prominent multi-faceted edges comparing to the Ref. 2523, giving it a more modern and sleek look.  

According to research, only 20 examples of Ref. 2523-1 were ever produced, all cases were made by A. Gerlach and all dials were made with metal by Stern Frères.  This particular example is in very good condition retaining a strong hallmark at 10am position, sharp outline and facets. It also benefits from a beautiful waved guilloché pattern dial, incredible definition of its rotating two-tone day-night 24-hour center dial and outer rotating silver dial with 41 cities. This watch is previously unknown to the public and has been kept in the private hands since it left the factory.  This reference is considered one of the most stunning and iconic models that Patek Philippe has ever produced.  The contemporary application of the “Heure Universelle (World Time)” movement can been seen on the well-acclaimed Ref. 5130 and Ref. 5131. 

For illustration of Ref. 2523 watches, please see Martin Huber & Alan Banbery ,Patek Philippe Wristwatches, 2nd edition, p. 240-247 and Patek Philippe Museum book, 2014 edition, p. 345-346.