PRESS RELEASE
Contact: Ita McCobb
International Marketing & Communication,
Patrizzi & Co Auctioneers SA
Tel +41 22 318 28 38
e-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Patrizzi & Co Builds On Success of Vintage Rolex
and Geneva Watch Auctions with New York City Horological Auction
Thursday, June 4

Two sessions offer outstanding pocket watches, vintage and modern wristwatches,
with NO buyer's commission and simultaneous Internet bidding

New York (May 7) — On June 4 in New York, Patrizzi & Co Auctioneers will present "Important Pocket Watches, Vintage and Modern Wristwatches" comprised of some 290 timepieces of outstanding quality, provenance and rarity. The auction follows two highly successful Patrizzi & Co auctions in Europe — the Davide Blei Vintage Rolex Collection, which was held March 22 in Milan and totaled more than $3.7 million with 114 timepieces, and the April 19 auction in Geneva with sales totaling over $6.7 million with 80% of the 263 lots sold.

The New York auction will be held at the company's gallery at 595 Madison Avenue in two sessions at 10:30 a.m. and 2 p.m. In addition, buyers can bid via phone, written bids, and in real time online via the company's website, patrizziauction.com. The complete auction catalog can be viewed and downloaded from the website or a hard bound commemorative version purchased online.

A public preview exhibition in New York will be held Monday, June 1, through Wednesday, June 3, from 10 a.m. to 6 p.m. In Milan, the collection will preview Monday and Tuesday, May 25 and 26, from 10 a.m. to 6 p.m. at Patrizzi & Co's showroom. Patrizzi & Co does NOT charge a buyer's commission, representing a 20 to 25 percent savings from the hammer price for the buyer. Unlike most auction houses, this means the final sale price reflects the actual value of the timepiece.

Highlighting the sale is a pair of ultra-complicated, highly engraved, diamond-set, platinum desk clocks made for a royal family in Southeast Asia in 1985. These precious, minute repeater desk clocks feature grande and petite sonnerie, perpetual calendar and moon phases with beautifully engraved, visible movements. One clock is also a chronograph with 60-minute register. The sale also includes an 18k yellow gold Jules Jürgensen pocket chronometer was presented by President James Buchanan to a Swedish ship captain in 1858, and a circa 1953 Vacheron Constantin pocket watch is made almost entirely of aluminum, weighing a mere 19.6 grams. Other timepieces in the sale include very important vintage Rolex, Omega and Patek Philippe timepieces and a fine collection of sport watches. A modern, one-of-a-kind Patek Philippe perpetual calendar wristwatch, Ref 3940, is designated by Osvaldo Patrizzi as 58/60 because of an anomaly—it is the only known Patek Philippe wristwatch with a printing mistake on dial officially recognized by the Manufacture in its documentation.

"This is an excellent time to be active at auction," said Osvaldo Patrizzi, president and chief executive officer of Patrizzi & Co. "Our April auction in Geneva and the Davide Blei Vintage Rolex Collection auction in March demonstrated that interest in horological auctions remains strong. The values that are currently available are bringing in a new breed of collector. Also, by eliminating the buyer's commission, we're increasing profits for the seller."

Osvaldo Patrizzi founded Patrizzi & Co last year with the goal to innovate the horological auction market, by bringing transparency at auction, fully integrating online communication with the traditional auction format, eliminating fees, and simplifying the auction process. A Patrizzi & Co horological expert carefully examines and evaluates every timepiece it offers for sale, which is then accompanied by a five-year guarantee of authenticity.

Important Pocket Watches, Vintage and Modern Wristwatches
Patrizzi & Co New York
June 4, 2009

NO buyer’s commission: This represents the saving to buyers of between 20–25% of the hammer price, which most other major auction houses currently charge.

Five-year guarantee of authenticity: This guarantee eliminates what is often perceived to be the “risk factor” in buying important pieces via the Internet and includes an accurate and very detailed description of the quality of the piece(s) being purchased.

A choice of catalogs: Clients have a choice of purchasing a special commemorative catalog or a digitally printed color catalog or downloading their own personalized version of the online catalog onto their personal computer or new generation e-Book.

Exhibitions
25 – 26 May 2009, 10 a.m. to 7 p.m. – Patrizzi & Co, Patrizzi & Co, Via Monte Di Pieta 24, Milan
28 – 29 May 2009, 10 a.m. to 6 p.m. – Patrizzi & Co, 9 rue de la Cité, Genève
1 – 3 June 2009, 10 a.m. to 6 p.m. – Patrizzi & Co, 595 Madison Avenue, 6th floor, New York

Auction
Thursday, 4 June 2009, 10:30 a.m. (lots 1 – 100) and 2 p.m. (lots 101 – 293)
Patrizzi & Co, 595 Madison Avenue, 6th floor, New York


For more details of the sale visit: www.patrizziauction.com

Highlights

Gerald Genta (Lot 292) – Magnificent pair of precious Gerald Genta presentation desk clocks; diamond-set in platinum and rock crystal, opal and mother of pearl; beautifully engraved, ultra-complicated visible movements; accompanied by original wooden box; made for royal family in Southeast Asia, circa 1985 Estimate: $ 400,000 - $ 500,000

Patek Philippe (Lot 196) – First self-winding Ref 2526, in 18k white gold, made in 1955 and sold in 1957; presented as a gift to the President of Portugal, Gen. Francisco Higino Craveiro Lopes, from Dr. Ibrahim Ismail Chundrigar, President of Pakistan, on November 11, 1957. Estimate: $ 80,000 – $ 100,000

Patek Philippe (Lot 289) – Platinum split-seconds chronograph, Ref 5959, with extra-thin movement, circa 2008. Estimate: $ 300,000 - $ 350,000

Vacheron Constantin (Lot 249) – An 18k yellow gold pendant watch named the "Geisha" watch by Vacheron Constantin to promote the new model for the Japanese market to wear in the obi; circa 1970s. Estimate: $ 1,500 - $ 2,200

Rolex (Lot 291) – Stainless steel “Monoblocco,” Ref 3525—also known as the "Prisoner Watch" from its sale to British prisoners of war during World War II—Oyster Chronograph anti-magnetic, round-button chronograph with register, tachometer and telemeter; circa 1943. Estimate: $ 40,000 - $ 60,000

Patek Philippe (Lot 290) – Self-winding perpetual calendar, Ref 3940, designated by Osvaldo Patrizzi as the 58/60 because of an anomaly—it is the only known Patek Philippe wristwatch with a stamping mistake on its dial officially recognized by the Manufacture in its documentation; circa 1987. Estimate: $ 200,000 - $ 300,000

Patek Philippe (Lot 208) – Chronograph, Ref 3971 – a unique timepiece as it features one of the earliest serial numbers and its original transparent back Estimate: $ 100,000 to $ 150,000

Audemars Piguet (Lot 176) – The smallest ladies’ minute repeater ever made, featuring carillon chimes; in platinum, circa 1990s. Estimate: $ 40,000 - $ 60,000

Jules Jürgensen pocket watch (Lot 162) – 18k gold Jules Jürgensen pocket chronometer presented by U.S. President James Buchanan in 1858 to Captain J. E. Westman of a Swedish ship that rescued passengers from an American vessel in December 1857; includes original wooden box and accessories. Estimate: $ 30,000 – $ 40,000

Vacheron Constantin (Lot 247) – One-of-a-kind aluminum pocket watch comprised of nearly all aluminum components, with presentation back; weighs mere 19.6 grams, circa 1953. Estimate: $ 3,000 - $ 4,000