Patek Philippe

The present open faced watch is preserved in good condition and is fitted with a high grade movement signed "extra special," set with a diamond end stone, and with a guillaume balance, best identified by its plain steel balance spring, and laminated cut, compensating balance wheel.

The present lot was made for Bailey, Banks & Biddle, and further sold to Albert Clement Middleton, for whom the watch was probably commissioned. It is personally inscribed and monogrammed for Albert C Middleton, an Industrialist and businessman in New Jersey. He was a co-founder of the Victor Talking Machine Company, incorporated in 1901, and served as a Director of the firm until his retirement in 1913. The company was later purchased by The Radio Corporation of America (RCA) in 1929. Middleton was also a prominent political figure in New Jersey Republican politics, having served as State Treasurer of New Jersey, and also the South Jersey Port Commission.

This high quality open faced watch was likely purchased from Bailey, Banks & Biddle along with a highly important, and rare yellow gold cushion-form, minute repeating wristwatch by Patek Philippe with movement number 198'094, circa 1930. The rare wristwatch was sold at Sotheby's New York, June 1995, achieving over $500,000 USD at the time. Indeed, the vast majority of these cushion form minute repeating watches were purchased by wealthy American Industrialists and Financiers. Alongside Albert C Middleton, this luxury model was owned by notable gentleman such as Henry Graves Jr., Ralph Teetor, and Floyd Bradley.