A Preview of the June 2023 New York Watch Auctions
By Max Braun (@mrbwatches) with assistance from Eric Wind
Shortly off the tail of May’s successful auction season in Geneva, we now have the June sales in New York. We have turned our attention to a fresh batch of lots and wanted to highlight those that excited us. We hope you enjoy the coverage!
Roger Smith Pocket Watch #2
First up at Phillips, Roger Smith’s Pocket Watch #2, likely the headline lot of the June season. The watch, featuring a perpetual calendar and tourbillon, is a singular achievement for one of horology’s essential figures. Its construction took years as Smith handmade each component of the watch, consistent with the demands of George Daniels, Smith’s mentor, who was also known to manufacture each component of his watches. While a number of works from Smith have come to market in recent years, none have the distinction of being labeled by Smith himself as “the most important watch I’ve made, without a doubt”. The watch is stunning, in every sense of the word, both for its near-flawless execution and its significance in the history of horology, particularly in England. We highly recommend reading through Phillips’ catalogue entry for the watch, as it provides great insight into not only the importance of the watch, but into Smith himself and how he came to be one of the most important figures in modern horology.
You can see the Roger Smith Pocket Watch #2 here: Phillips Lot 12
Rolex Explorer Reference 6610
Secondly, we have a Rolex Explorer reference 6610 from circa 1957. While always difficult to comment definitively on condition from catalogue photos alone, the example here does look to be in very strong condition as the dial and lume have aged attractively and the case appears to retain good edges. We also appreciate that the watch appears to have its original crystal (with just the right amount of crazing). Our fandom of 1016’s is no secret; however, we continue to see tremendous value in earlier references of Explorer, particularly those from the late 1950’s given their fantastic character and rarity. The “OCC” and “Swiss-only” designations on the dial make for a slightly cleaner presentation versus the 1016, as does the painted white seconds hand. When preserved well, the radium lume takes on a lovely orange-ish hue that later tritium examples just cannot match. While these are small details, together, they set good examples of this reference apart from the long-running 1016. Finally, it’s nice to see an example with a period-correct Jubilee bracelet, a nice break from the more commonly seen Oyster.
You can see the Rolex Explorer ref. 1016 here: Phillips Lot 15
Patek Philippe Reference 1436
Next up is a Patek Philippe reference 1436, a yellow gold split-seconds chronograph. This example is fresh-to-market and appears to be in very good condition as the dial has been cleaned sympathetically and the case appears to be unpolished. While Patek introduced the reference in 1938, this example was manufactured circa 1950 and is a second execution. A key distinction of the second execution from the first is the introduction of the button within the crown to split and then reunite the chronograph seconds hands. As the case measures 33mm in diameter, the rarity of the reference is a bit overlooked and it is easy to forget that only 140 examples were produced through the reference’s lifetime (1938-1971). We also very much appreciate that the watch is on consignment from the family of the original owner and has passed from through 3 generations of the family: from grandfather to grandson. Interestingly, the last 2 owners of the watch were U.S. squash champions, and one was inducted into the U.S. Squash Hall of Fame in 2000; he was also featured on the cover of Sports Illustrated in 1958. This lot certainly checks our 3 key boxes: Rarity, condition, and good provenance are each sternly present here.
You can see the Patek Philippe reference 1436 here: Phillips Lot 124
Zenith El Primero Reference A384
Concluding our highlights from Phillips is lot 126, a Zenith El Primero reference A384 that has aged wonderfully. While the El Primero’s significance to the history of modern chronographs is no secret, what often goes overlooked is that the first reference, introduced in 1969, was produced in very limited numbers: only 2,600 were manufactured. While we see a dozen or so examples for sale in the market at any given time, few feature all original parts, and even among examples that are all original, even fewer have remained in good condition. This example appears to have a very strong case. The star of the show, however, is the dial. Initially black, the outer tachymeter scale and subsidiary dials have aged to a tobacco/Havana brown that is impressively uniform and undeniably attractive. Of the lots in the sale, this is perhaps one of the easiest to envision wearing and enjoying quite casually on a daily basis.
You can see the Zenith El Primero reference A384 here: Phillips Lot 126
Patek Philippe Reference 2526 with Black Dial
Up first at Sotheby’s sale on June 9th in New York is a Patek Philippe reference 2526 cased in yellow gold and featuring a black enamel dial. What is left to say about the appeal of this reference? The case and dial are proportioned perfectly, and one would be challenged to find a watch that wears better on the wrist. We highlight this example due to the good condition of both the case and dial, and also because this example has a black enamel dial, a gorgeous alternative to the more standard white. The black enamel has an impossible depth to it, almost as though one spilled an inkwell on to his desk. This piece epitomizes everything we love about watches; it oozes class and refinement, and it allows its owner to say quite a lot without saying anything at all.
You can see the Patek Philippe reference 2526 with Black Dial here: Sotheby's Lot 36
Patek Philippe Reference 1518 “Pink-on-Pink”
Next up, the premium lot of the sale: a fresh-to-market Patek Philippe reference 1518 cased in pink gold and featuring a pink gold dial, the first to come to market since December 2021 when Sotheby’s sold one, formerly the property of Prince Mohammed Tewfik Toussoun, for $9.6 million. First things first: some in the media are already comparing this watch to the example in the December 2021 sale. Our take: this watch is not that, and one need not look any further than the estimate ($2.5 – $4.0 million) to understand that this is the case. Simply put: the example from the 2021 sale is perhaps the most attractive wristwatch we have ever seen. That watch sat in a safety deposit box for many decades and was as close to unworn as we’ve ever seen for a 1518. The present lot has considerable signs of wear, and of course cannot match the provenance of the example from the December ’21 sale. This aside, anytime a “pink-on-pink” comes up for sale, particularly one that is fresh-to-market, it is worth highlighting. The configuration is rare: only 58 examples are believed to have been manufactured with a pink gold case, and very few of the 58 feature the pink gold dial. We’re thrilled to see that this example has survived its almost 8 decades of life paired with its original bracelet (note that the example from the 2021 sale did not include its original bracelet).
And now on to the condition: the watch shows considerable signs of wear and tear. The Vichet case has been polished and the dial has several areas of discoloration throughout, particularly on the numerals and in the dial’s center. The discoloration on the dial is likely due to moisture exposure; we understand that the watch sat for some time without a crystal. Additionally, it is disappointing that Sotheby’s has chosen not to include photographs of the watch’s movement. The photo of the movement we have here was taken at a private preview of the sale. Unfortunately, the movement has considerable pitting. The watch will require a substantial service from the manufacturer and it is likely at least several components of the movement will need to be replaced. This will come at a considerable cost to the new owner and will likely take 6-12 months for Patek to complete.
All this said, a pink-on-pink 1518 is one of the most attractive and important wristwatches ever made, and while this watch cannot measure up in terms of condition to the previous example sold at auction, it has a very real place in any serious collection. We cheer Sotheby’s for securing another fantastically rare example of one of the best watches ever made.
You can see the Patek Philippe reference 1518 “Pink-on-Pink” here: Sotheby's Lot 38
Breguet Reference 1539
Up next is this Breguet reference 1539 from circa 1956. While at first glance the watch may come across as pedestrian, we feel compelled to highlight how exceptionally difficult it is to find steel, time-only watches from Breguet, particularly from this era. Also worth noting is how uncommon it was for time-only watches, especially in steel, from the mid-century to have an automatic movement. This example appears to be in strong condition as the beveling on the lugs is sharp, and the dial has aged gracefully with few to no defects. We’re thrilled to see that the outer seconds track has held up cleanly with minimal wear; we often see the seconds track deteriorate when exposed to moisture, a frequent occurrence with watches from this era with similar case construction. Lastly, while not unique to this watch/this reference, it’s worth highlighting the Breguet signature. We are hard pressed to think of a more attractive font for a watch dial.
You can see this Breguet reference 1539 here: Sotheby's Lot 79
Heuer Reference 2447 “Seafarer” with Abercrombie & Co.-Signed Dial
First up at Christie’s June 9th sale in New York is this Heuer Seafarer reference 2447 with an Abercrombie & Co.-signed dial. Perhaps the epitome of an outdoorsman’s watch, these Abercrombie-signed Seafarers and the stories behind them have been well documented over the years. The white and blue highlights utilized for the regatta countdown and tide indications are highly attractive. We select this lot to highlight the watch’s sterling condition, which is notable for Seafarers as they typically come to market with overpolished cases, replacement parts, and dials that generally have not stood the test of time. The watch in question appears to be quite sharp, and most notably the white dial has aged quite gracefully. We continue to see great value in vintage Heuer, particularly examples in strong condition, and this lot is likely the highlight in this category for the Summer season.
You can see the Heuer reference 2447 “Seafarer” with Abercrombie-signed dial here: Christie's Lot 1
Audemars Piguet Royal Oak Reference 5444ST
I must admit that when I first paged through the Christie’s catalogue, I glossed over lot 40 as just another steel Royal Oak perpetual calendar from AP. It was only upon a closer examination that I began to recognize this watch’s significance. The first hint is in the reference number: we are one digit short of the more common reference 25554 ST. Christie’s explains that the reference 5444 ST was produced in extremely limited numbers, only 279 were manufactured across the 3 core metals (steel, yellow gold, and platinum). Introduced in 1983, the 5444 ST was the first Royal Oak to feature a perpetual calendar, a crowning achievement for AP’s most important model. This watch comes to us from the family of the original owner and fortunately remains in pristine condition. It is difficult to overstate how excited we are about this lot, perhaps the strongest steel example of a critically important reference in the AP archive.
You can see this Audemars Piguet Royal Oak reference 5444ST here: Christie's Lot 40
Rolex Explorer Reference 1016
Lastly, from Heritage in Dallas, we want to highlight the hilarity of lot 54096, a Rolex Explorer reference 1016. You may be saying to yourself: “this watch looks terrible”. Correct you are my friend. We applaud Heritage for consigning this watch and for their sense of humor! The watch is accompanied by forty-seven pages of correspondence between the watch’s original owner and Rolex as the owner made repeated requests to update the watch with modern parts (even the case was replaced at one point). Heritage’s description of the correspondence as documentation of the “de-evolution” of the watch is perfect.
You can see this Rolex Explorer reference 1016 here: Heritage Lot 54096