Auction New York 14 December – Results
Tuesday, 15 December 2009 00:00

PRESS RELEASE

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Sales from Exceptional Watchmaking Masterpieces
— An Exclusive Collection of Remarkable Timepieces

Total more than $4.2 Million with
Bids Increased Due to No Buyer’s Commission Policy

December 14, 2009

For Patrizzi & Co’s final auction of the 2009 calendar year, the watch auction house focused on collector-level timepieces with just 93 lots. Buyers responded positively, with sales particularly strong for Patek Philippe and two exceptional Art Déco clocks. The auction totaled $4,225,300 with Patek Philippe accounting for more than half the total value. Patrizzi & Co finishes the year with sales over $34 million from a total of eight auctions in New York, Geneva and Milan.

Highlights included two Patek Philippe 18k yellow gold round-button chronographs, Ref. 2499; the model from the rarer Second Series was the top seller of the auction, achieving $720,000, while the other sold for $320,000. Art Déco clocks created for Black, Starr & Frost, attributed to newly discovered designer Pierre Gravoin, sold for $380,000 and $340,000. American baseball player Lenny Dykstra’s 18k white gold Patek Philippe Annual Calendar on a matching gold bracelet sold for $28,000.

"Bidders definitely raised their prices because of our policy of no buyer’s commission," said Osvaldo Patrizzi, chairman and CEO of Patrizzi & Co. "We had many active bidders over the phone and online, particularly from Hong Kong, China, Russia, Italy and the U.S. The clocks made by Black, Starr & Frost are two of the finest examples of Art Deco clocks reflecting a culmination of jewelry, art, design and technology of their time. In addition, the six sets of watch keys sold for more than double their estimate, with three of the six lots selling for more than triple their estimation."

About 80 people attended the auction with another 100 people bidding by Internet, and 60 by phone and absentee bid, with most bids coming from China, Italy, and Hong Kong. Over 66 percent of the 93 lots sold.

In addition to the live and online auction, Patrizzi & Co hosted its first New York silent sale over four days. Timepieces sold from $500 to $25,000, including Patek Philippe, Audemars Piguet, A. Lange & Sohne, Heuer, and pocket watches by Jules Jurgensen and Ekegren, among others. The new SMS system to notify bidders of competing bids created a lively atmosphere with potential buyers waiting in the showroom with cell phones in hand while watching the results on the computer screen.

Osvaldo Patrizzi founded Patrizzi & Co in 2008 to innovate the horological auction market by eliminating the buyer's commission and other fees and simplifying the auction process. A Patrizzi & Co horological expert carefully examines and evaluates every timepiece offered for sale, which is then accompanied by a five-year guarantee of authenticity.




Highlights

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LOT 93
Patek Philippe Ref. 2499/100.
Patek Philippe, Genève, Ref. 2499/100, Movement No. 869393, Case No. 2779154, made and sold in 1980.
18k yellow gold, astronomic men’s wristwatch with round-button chronograph, phases of the moon, months and days of the week in English, date, 30-minute register; accompanied by an Extract from the Archives.
SOLD for $320,000


LOT 92
Patek Philippe, Genève, Ref. 2499, 2nd series, Movement No . 868598, Case No . 696510, made in 1957, sold June 18, 1959.
Exceptionally fine, very rare and important, 18K yellow gold, astronomic men’s wristwatch with round- button chronograph, phases of the moon, months and days of the week in English, date, 30-minute register; accompanied by an Extract from the Archives.

SOLD for $720,000

LOT 91
Set of four Patek Philippe Perpetual Calendars, Ref. 3970E, circa 1990s.
Rare set of four Ref. 3970E wristwatches with custom dial colors to complement each color 18k gold—white, yellow, rose—and platinum with diamond indexes. The original silvered dials were kept and accompany each watch in the set; accompanied by Patek Philippe leather case.

SOLD for $640,000

LOT 86
Patek Philippe Cloisonné Enamel Goat, Ref. 5075.
Patek Philippe, Genève, Ref. 5075G-032, Movement No. 3238628, Case No. 4252642, made in limited edition in 2003 Very fine and extremely rare, 18K white gold and cloisonné, self-winding, water-resistant men’s wristwatch with special dial, original commemorative box and Certificate of Origin.

SOLD for $ 50,000

LOT NO. 85
“Paris Ville Lumière” Cloisonné Enamel Dome Clock.
Patek, Philippe & Co., Genève , Ref. 769, Movement No. 874421, Case No. 2030, Enamel by Madame Luce Chappaz, made and sold in 1970.
Solar-powered, mechanical, dome table clock with cloisonné enamel images including a map of Paris and landmark Paris monuments; accompanied by an Extract from the Archives.

SOLD for $62,000

LOT 64
Patek Philippe Annual Calendar, Ref. 5036/1 , originally owned by American baseball great Lenny Dykstra Patek Philippe, Genève, Ref. 5036/1, Movement No. 3421687, Case No. 4178700, made in 2004-2005.
18K white gold, astronomic, self-winding, center-seconds, water-resistant men’s wristwatch with annual calendar, phases of the moon, power reserve indication, months, days of the week and date; accompanied by photograph of Dykstra from the 1986 World Series.

SOLD for $28,000

LOT 59
Patek, Philippe & Cie, Genève, No. 112454, made in 1902 and shipped to Tiffany & Co on July 28, 1903.
Patek Philippe 18k rose gold, keyless, minute repeater chronograph pocket watch with split-seconds chronograph made in 1902 for Tiffany with sweep seconds and 60-minute and 12-hour registers.

SOLD for $46,000

LOT 58
Tree of Knowledge of Good and Evil.
Pierre Gravoin, Paris, and Vladimir Makovsky for Black, Starr & Frost, circa 1930, exhibited at 1939 World’s Fair Art Déco clock, "Tree of Knowledge of Good and Evil," case designed and manufactured by Vladimir Makovsky and manufactured by Pierre Gravoin for Black, Starr & Frost, circa 1930; exceptionally fine and rare, 18k yellow gold and platinum, malachite, mother-of-pearl, coral, lapis lazuli, lack onyx and rock crystal, diamond-set, with fitted leather case and key. The movement of this clock is signed Black, Starr & Frost, and the case is punched with the “PG” trademark of Pierre Gravoin.

SOLD for $340,000

LOT 57
Square Mystery Clock.
Pierre Gravoin and Vladimir Makovsky for Black, Starr & Frost, circa 1931.
Art Déco square Mystery clock, designed by Vladimir Makovsky and manufactured by Pierre Gravoin, for Black, Starr, Frost-Gorham, Inc., circa 1931; a rare, platinum, 18k yellow gold, mother-of-pearl, lapis lazuli, turquoise, rock crystal, black onyx, diamond-set and emerald-set, with winding/setting key. Until this clock was properly identified by Patrizzi & Co, it was generally believed that Cartier was the sole maker of mystery clocks; this timepiece reveals that Pierre Gravoin also produced these clocks. The movement of this clock is signed Black, Starr & Frost, and the case is punched with the “PG” trademark.

SOLD for $380,000

LOT 34
Vacheron & Constantin Minute Repeater.
Vacheron & Constantin, Genève, Movement No. 380639, Case No. 266986, made in 1941, 18k pink gold, extra-flat, minute-repeating men’s wristwatch with small seconds.

SOLD for $170,000

LOT 30
Audemars Piguet Grande Sonnerie Minute Repeater Carillon.
Audemars Piguet, Grande Sonnerie Carillon, Movement No. 456620, Case No. D 94775, made and sold in a limited edition in 2002.
Platinum men’s wristwatch with Grande Sonnerie minute repeater carillon , includes original fitted box and Certificate of Origin.

SOLD for $100,000

LOT 17
Rolex “Elvis Presley” King Midas, Ref. 3580.
Rolex, Genève, King Midas, Ref. 3580, No. 1039, Case No. 3707890, made in 1973, produced in a limited edition of fewer than 150 pieces in the 1960s and 1970s.
18K white gold men’s wristwatch with integral Rolex bracelet, deployant clasp, and original “Greek vase” presentation box.

SOLD for $17,000

LOT 2
A lot consisting of 12 gold, silver, and gilt watch keys, some with precious or semi-precious stones, ranging from the 19th to the 20th centuries with four matching seals, compass, and three gilt watch chains from the same period.

SOLD for $7,000