PATEK PHILIPPE

• cal 12-400 nickel lever movement stamped twice with the seal of Geneva, mono-metallic compensation balance, 18 jewels, micrometer regulator, adjusted to heat, cold, isochronism and five positions, metal dust cover • aged silvered dial, applied gold luminescent bullet and faceted dagger indexes, gold dauphine hands, subsidiary seconds, outer minutes track • 18k gold water-resistant-type case, enlarged sloped bezel, downturned lugs, screw back • case, dial and movement signed

The movement is running, however we recommend service soon. It has a few scratches to the main plate. The dial is aged and discolored, probably from the luminescent paint to the hands and indexes. The center of the dial has remained mostly unchanged. Despite all of the discoloration, the dial has a nice look to it. The case shows general wear throughout and light surface scuffs. The back of the lower left lug is stamped 006 (which does not match the case number of 694005, however as it is one number off, it could simply be a factory error). The iside of the caseback has aged and discolored.
"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 an Extract from the Archives confirming production with radium, or luminescent, dial in 1957 and sale on September 29th of the following year.

Ref. 2532 was introduced in 1952 as a replacement for the iconic Ref. 565, whose water-resistant-type case is only one millimeter larger in diameter than this model (see the following lot). It was produced for approximately five years.

The present example is one of approximately one dozen from this reference to come to auction, and to the best of our knowledge, this is the first time it has been offered at auction.

An example of Ref. 2532 with an identical dial is illustrated in Huber, M. & Banbery, A., Patek Philippe Wristwatches, Vol. 2, Second Edition, p. 193, pl. 306.