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An extremely fine, highly important and previously unknown pink gold worldtime wristwatch with two crowns and two-tone dial, 1954 – Patek Philippe
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About the object

Patek Philippe\nAn extremely fine, highly important and previously unknown pink gold worldtime wristwatch with two crowns and two-tone dial\n1954\n36 mm. diameter\nCase, dial and movement signed
HK
HK
HK

year

1954

notes

We are absolutely thrilled to present this exceptionally rare and highly important pink gold Double Crown World Time Patek Philippe wristwatch reference 2523/1, which is fresh to the market and previously unknown. In exceptional and unpolished condition, this pink gold 2523/1 is the second known example to be offered to public. The first example is fitted with a silver matte-finished center disc, and not a guilloché dial, such as the present watch. Sold at auction a staggering 18 years ago, the watch achieved a record breaking price of 665,000 US dollars.When introduced to the market in the early 1950’s, the Double Crown World Time was not a commercial success. As a result, very few pieces were manufactured and sold. Reference 2523 is divided into two variations. The first, reference 2523, is fitted with slightly larger lugs that sit higher above the bezel. The second, reference 2523/1, has a slightly larger diameter case. The lugs are slightly thinner and do not sit above the bezel like they do on reference 2523.The present 2523/1 is the second known example in pink gold to be offered at auction. To date, there are 9 yellow gold examples known. 5 are fitted with a guilloché center and 4 are fitted with a silver matte finished center disc.Scholars and collectors familiar with the auction market in the last 30 years are well aware of how rare it is for an arrival of a trophy watch. It has been 18 years since a comparable watch has appeared in the public arena. It is hard to say when, and if, another opportunity will ever arise again to acquire a pink gold Double Crown World Time by Patek Philippe.The World Time system was first invented in 1935 by master watchmaker Louis Cottier. At the time, the movement was used by watchmakers such as Patek Philippe, Rolex, and Vacheron Constantin. The ingenious system allowed the wearer to view multiple time zones. The dial was fitted with two discs, which could be easily adjusted to change and compare the time of various cities around the world. Reference 2523 was fitted with an additional crown at 9 o'clock to change time zones. Also known as "Hueres Universalles", the World Time system features Caliber CH 240 HU, and is usually accompanied with a special guilloché or enamel dial. Patek Philippe is particularly gifted at making beautiful and intricate designs. Their World Time wristwatches feature beautifully crafted enamel maps of Asia, Americas, Oceana and Europe or exceptionally crafted guilloché or engine turned centers. Other enamel designs included mythical dragons and symbols. Due to the World Time's unpopularity, very few examples were made, making the World Time extremely rare and incredibly collectable today. Reference 2523 was first launched in 1953. At the time, it was incredibly expensive to produce this reference due to the laborious process of creating both the movement and dial. In addition, the large case size and two crowns was an incredibly unusual look for the time period. The market had not seen such examples before, and the public did not take well to this new design. The 2523's predecessor, reference 1415, featured only one crown and had a much smaller case size. However, as scholarship grew and collectors became increasingly educated about the intricacies of creating such a masterpiece, reference 2523 has grown immensely in popularity over the years. Today, it has become a classic among esteemed and important collectors. To date, this reference achieves world record prices at auction and continues to astound and impress the watchmaking community.The present watch, reference 2523/1, is cased in pink gold and fitted with an engine-turned guilloché dial which features all 24 time zones of 41 cities. The movement was first manufactured in 1954, then completed in 1965 and cased in 1966. The watch was sold seven years later in 1973, illustrating how unpopular the watch was, at the time. This watch is in absolutely pristine and unpolished condition. The case features very sharp sides and deep faceted lugs, with a hallmark punched to the side of the case at 5 o'clock. There is a fat and wide bezel. The watch exhibits full and bold proportions and is in really exceptional condition. The dial has a two-tone finish, with a guilloché center and applied pink gold baton numerals, along with pink gold worldtime hands. The watch is furthermore previously unknown and fresh to the market.To our knowledge, there are only three pink gold examples in existence, with one example proudly displayed in the Patek Philippe museum, inventory number P-212.

title

An extremely fine, highly important and previously unknown pink gold worldtime wristwatch with two crowns and two-tone dial

signed

Case, dial and movement signed

creator

Patek Philippe

condition

The movement is ticking at the time of cataloguing and the world cities are adjusting through the crown at 9 o’clock. The dial is in exceptional and untouched condition with each of the cities nicely raised in hard enamel. The 24 hour ring is in very good condition and the central disc is exceptional overall, but with a light area of tarnishing between 1 and 2 o’clock. The hands with very minor oxidation. The case is unpolished and in exceptional and very attractive condition. The bezel is crisp and retains its full proportions. The lugs with original factory facets. There is a sharp hallmark stamped in the band between 4 and 5 o’clock. There is surface wear to the case and case back that can be seen with the naked eye. The case back is unpolished and with surface wear throughout. The present watch is only the second 2523/1 in pink gold to be ever offered at auction. The last and only other time a pink example with silvered centre was offered 18 years ago. According to research, there are only three pink 2523/1 with the other examples on view at the Patek Philippe Museum. Previously unknown or recorded in any literature, the present watch is highly charismatic and original condition.

dimensions

36 mm. diameter

literature

For another example of a reference 2523/1 cased in pink gold, please see Patek Philippe Museum, Patek Philippe Watches Volume II, page 346.


*Note that the price is not recalculated to the current value, but refers to the actual final price at the time the product was sold.

*Note that the price is not recalculated to the current value, but refers to the actual final price at the time the product was sold.


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Realised Price
4,674,800 GBP