In the rarefied world of vintage Patek Philippe, the world timer watches hold a special place in the hearts of connoisseur collectors. These watches were made in very small numbers and can legitimately be referred to as rare. The Patek Philippe World Time reference 2523/1 is one such timepiece, with only 15 examples ever made in yellow gold. Of those 15 watches, only 10 can currently be accounted for. Altr’s partner, Monaco Legend Group, is offering the very finest known example in its upcoming Spring Exclusive Timepieces auction on the 22nd and 23rd of April 2023, in Monaco.
Monaco Legend Group Chairman Davide Parmegiani picks up the story of this incredible watch. “This Word Time 2523/1 is the only one ever to appear with original box and papers and has only had two owners since 1968, when it was sold new by Patek Philippe Geneva. It remained in Switzerland in the same family until 2013 when it appeared in a small auction in Zurich. It’s an incredible example that has probably never been restored or the case polished. The fact that this watch still has its original papers shows that it was cherished and cared for by the previous owners. The back of the watch is untouched, the edge of the bezel is astonishing, as are the lugs. I really believe this incredible watch deserves a lot of attention from collectors all around the world”.
In the world of watch collecting, truly asset-class pieces possess the holy-trinity attributes; rarity, condition and provenance. Not all watches are equal, especially in the difficult-to-navigate world of vintage. Two watches of the same reference and vintage can vary in value significantly, depending on the condition and accompanying documentation. The same two watches can have a value difference of four times. The Monaco Legend Group Patek Philippe 2523/1 is incredible for its rarity, virtually as-new condition and presence of original box and papers…the holy trinity!
Launched in 1953, the reference 2523 featured a new two-crown system, one for winding the watch and the other at 9 o’clock controlling the city disc. Two versions were available; reference 2523 and later reference 2523/1, which was introduced in 1962. Based on the work of watchmaker Louis Cottier, the world time watches divided the twenty-four time zones into day and night. Over their lifetime, both references 2523 and 2523/1 were fitted with several dial variations. Principally, the reference 2523 was available with enamel dials and the 2523/1 with silvered or guilloche dials.
The watch in the upcoming Exclusive timepieces sale has a stunning silvered example in remarkable original condition. The watch has spent much of the past decade in a safe box, rarely worn, supported by the oxidation slowly appearing on parts of the case. The yellow-gold case is still sharp with a crisp hallmark, sharp facets and a beautiful satin finish. The Calatrava cross on the original crowns is still well-defined.
At Altr, we strongly believe in working with world-class experts such as Davide and Andrea Parmegiani at Monaco Legend Group. By working with these partners, timepieces like this true holy grail, and a once-in-a-lifetime opportunity for the connoisseur collector, will be part of our offering of unique luxury collectibles on the Altr platform. The Altr team will be present at the auction in Monaco, joined by a few lucky community members from our recent giveaway, who will be able to witness one-of-a-kind timepieces like this first-hand.
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