A 1948 Patek Philippe 1518 in yellow gold is estimated at up to CHF 1m at Christie’s Geneva. It is one of 218 watches in Rare Watches, the sale Christie’s holds on 9 November at the Four Seasons Hotel des Bergues, on the quay where the Rhône leaves Lake Geneva. Over 35 of them are vintage. Another 39 are by independent watchmakers, and seven of those are unique pieces, according to Christie’s. In its words, the sale “will present an exceptional selection of vintage timepieces and contemporary independent creations”. Christie’s has not given a total estimate. Rare Watches is the title Christie’s Geneva gives its watch sales, held twice a year, in May and November, at the same hotel.
Six watches and their estimates, in Swiss francs
The estimates are Christie’s.
| Watch | Estimate (CHF) |
|---|---|
| Patek Philippe 1518, yellow gold, 1948 | 500,000 to 1,000,000 |
| F.P. Journe Tourbillon Souverain Reference T, no. 125/01T | 650,000 to 1,400,000 |
| F.P. Journe Vagabondage I, II and III, pink gold | 400,000 to 800,000 each |
| Cartier Octagonal Allongée, 1990 series | 400,000 to 600,000 |
| Kari Voutilainen Vingt-8 SC, unique piece | 300,000 to 500,000 |
| Sylvain Pinaud Origine, unique piece | 100,000 to 200,000 |
Patek Philippe 1518, sold new on 17 December 1948
Christie’s describes the 1518 as “the world’s first serially produced perpetual calendar chronograph wristwatch”. A perpetual calendar shows the date, the day and the month and allows for leap years, so it needs no correction at the end of short months, and the chronograph adds a stopwatch. The example in Geneva is in yellow gold, with raised gold hour markers. According to Christie’s, the Patek Philippe Archives confirm its production in 1948 and “its subsequent sale on 17 December 1948”. The estimate is CHF 500,000 to 1,000,000. In the same Geneva week, Phillips offers a 1945 Patek Philippe reference 1436 in steel, a split-seconds chronograph and one of two known, estimated at up to CHF 4m, as in our report on the 1436.
F.P. Journe’s Reference T and a Vagabondage trilogy
The highest estimate in this preview belongs to an independent. “Introduced in 1999, the Tourbillon Souverain Reference T is F.P.Journe’s earliest series-produced wristwatch,” Christie’s writes, and it was “the first with a remontoir d’égalité”, a device that sends a constant force to the escapement. François-Paul Journe, who founded the brand, works in Geneva. Number 125/01T is consigned “by the family of the original owner”, with an estimate of CHF 650,000 to 1,400,000. Christie’s also offers a full trilogy of Journe’s Vagabondage I, II and III, in pink gold, with matching numbers: 36/68 on all three. Each is estimated at CHF 400,000 to 800,000. Vagabondage II dates from about 2010. Vagabondage III followed in about 2017.
Cartier’s Octagonal Allongée, a first at international auction
Cartier brings a rare shape. The name describes the case, an elongated octagon, and shaped cases are a Cartier tradition, from the Tank to the Crash. The Octagonal Allongée in the sale is, in Christie’s words, “the first example of the 1990 Octagonal Allongée series to appear at international auction”, and it is estimated at CHF 400,000 to 600,000. The house has recent form with Cartier’s watches of that year. Its release recalls that “a London 1990 Crash set the highest price ever paid for any Cartier wristwatch, exceeding $2 million”.
Voutilainen and Pinaud, two unique pieces among 39 independents
Seven of the 39 independent watches are unique pieces. Christie’s names two of them. The Vingt-8 SC by Kari Voutilainen, who works at Môtiers in the Swiss Jura, is a “unique piece, combining a stainless steel case with a striking onyx dial”, estimated at CHF 300,000 to 500,000. Sylvain Pinaud’s Origine is “a unique piece in the Origine series featuring an exclusive black dial”, at CHF 100,000 to 200,000. The modern history of independent watchmaking has a centenary of its own this autumn, with George Daniels’ Space Traveller I and II shown together for the first time, as in our piece on the Daniels exhibition.
The Luxury.it perspective
The interest of the sale is in its balance. On estimates alone, a Journe introduced in 1999 sits above a Patek Philippe sold in 1948. That says a good deal about how collectors now value independent watchmaking, without taking anything from the 1518, which remains one of the great references of the vintage market. Thirty-nine of the 218 watches come from independents, nearly one in five. Christie’s previous Rare Watches sale in Geneva, in May, totalled $42.3 million, Forbes reported. The November week brings Geneva’s auctions within days of each other: Phillips offers watches and a 1.35-carat blue diamond, Christie’s offers the Bulgari Pink, a 24-carat diamond estimated at up to $18m, and Gooding Christie’s holds its first Geneva sale, for cars. Christie’s also holds watch sales in Hong Kong in November, with more than 300 pieces. Results for Rare Watches follow on 9 November.
Related guides
The Bulgari Pink at Christie’s Geneva · Phillips Geneva: a blue diamond and a Kashmir sapphire · Gooding Christie’s first Geneva sale · Christie’s Hong Kong watch sales in November
