Patek Philippe

• cal. 12'''400 HU manual winding nickel-finished lever movement stamped with the seal of Geneva, 18 jewels • 18k pink gold guilloché central dial with applied Roman and baton indexes to the chapter ring, 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 40 cities from around the world in French and adjusted by a crown at 9 o'clock • restored and refinished facetted lugs, snap on back • case, dial and movement signed • with an 18k pink gold Patek Philippe buckle

Exceptional wristwatch with highly unusual combination of pink gold case on pink guilloché centre. Movement running and functions fully operational while doing the catalogue. The dial shows minor signs of wear due to again, overall it is in a very well preserved condition with its original lacquer for cities indications on the outer rim. The case in overall good condition, the winder is loose but can be easily fixed. There have been restorations and refinishing to the lugs to bring it back to its original condition. Since the original purchaser the watch has always remained in the same family. It is a world premiere for a reference 2523 pink on pink guilloché centre dial.
"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 Patek Philippe Extract from the Archives confirming sale with its guilloché centre dial on April 5th 1960.

The present reference 2523 is an exclusive timepiece for its rarity and importance in the very limited production of worldtime wristwatch by Patek Philippe. Recognized as one of the world's most rarest wristwatches ever produced, the iconic two crown worldtime by Patek Philippe continues to bring excitement to the auction world whenever it is offered for sale.

The appearance of a 2523 at auction is a rare event since pieces have been enthusiastically absorbed by the world's most prominent and passionate collectors including three now exhibited at the Patek Philippe Museum.

The aesthetic appeal of this model lies in the design featuring a large and bold sized architectural case, engraved rotating disk featuring the cities and locations around the world, and caliber movement 12-400 HU (Heures Universelles).  Working in perfect harmony, the complex elements of the reference 2523 combine to present the time around the world simply, elegantly, and legibly. It is the perfect combination of time indication in all cities around the world  with an elegant design typical of the 1950's.

The present example, previously unknown to the world outside the archives of Patek Philippe, redefines scholarship on different types of dials used for the highly desirable pink gold case version of reference 2523. Intensive research on this piece leads us to an interesting discovery on the dial design of Patek Philippe world time wristwatches.

According to scholars, it is thought that only 25 watches were cased with reference 2523 with two thirds being made in yellow gold, one third in pink gold and only one known in white gold. All cases were made by the Geneva case maker A. Gerlach and fitted with various styles of dials made by Stern Freres.

These very specific watches were fitted with a variety of different types of dial centres, including the most important ones with the celebrated cloisonné enamelled discs depicting maps. Amongst these there are two known examples featuring the map of Europe, five with the North American continent and one with the map of South America.

In fact, a detailed count reveals that among all pieces identified to return to the market from that period, eleven examples are in yellow gold, five examples in the rare and exclusive pink gold, and one only in white gold, some now exhibited in the Patek Philippe Museum.

Our research shows that among the five known examples that have returned to the market in a pink gold case over the past thirty years, the present example is the only pink gold version known with a guilloché dial. All other examples were adorned with different centres: two with translucent enamel, one cloisonné enamel and one in black metal, giving the present watch a unique combination wits guilloché dial.

Made by Patek Philippe in 1953 and sold in April 1960 to a distinguished gentleman from Mexico, who later had a custom made bracelet added to the case, it has been kept by descendants of the original owner who have had it restored in its original condition. This exquisite piece appearing for the first at auction is one of the most desirable timepieces from the golden era of watch production in the 1950's and would certainly become a celebrated trophy for a distinguished collection. We wish to thank Eric Tortella for the in depth research he has provided for this newly rediscovered example of the reference 2523. 

For more detailed information see:

John Reardon, Patek Philippe in America: Marketing the World's Foremost Watch, p.112-113

Martin Huber & Alan Banbery,  Patek Philippe Geneve , p.71-73

Martin Huber & Alan Banbery ,Patek Philippe Wristwatches, 2nd edition, p. 240-247.