Patek Philippe - New World Record Price at Geneva Auction

This morning, Christie’s auction launched a Connoisseur’s Vision Part V, a selection of the world’s finest watches and wristwatches. The selection includes more than 420 lots by the most renowned manufacturers such as Patek Philippe, Rolex, Audemars Piguet, Vacheron Constantin, Cartier and Breguet. The star of the show is a most likely unique Patek Philippe white gold single button chronograph wristwatch manufactured in 1928.

This item, lot 81, is an important and extremely fine 18-carat white gold cushion-shaped chronograph wristwatch, with vertically positioned register and Breguet numerals. The watch is signed as PATEK PHILIPPE & CO., GENEVA, SWITZERLAND, MOVEMENT NO. 198'207, CASE NO. 608'751, MANUFACTURED IN 1928.

The watch is made just before the outbreak of the Great Depression, which also affected the Swiss watchmaking industry. At the same time, the appetite for unique and highly complicated pieces was on the rise. It was the regular production that suffered the most, but very limited high end line enjoyed the greater demand and actually saved many of the traditional Swiss manufacturers from bankruptcy as the collectors craved for unique, luxurious and super-complicated watches. The unique Patek Philippe white gold single button chronograph was started in 1928 and sold on the 21st November of 1931, was most certainly made upon the special request for one of the Patek Philippe's most important patrons.

This watch is the only example of the single button chronograph wristwatch by Patek Philippe, crafted in white gold and with applied Breguet numerals. The single button chronograph mechanism allows its wearer to operate all of the stop-watch functions by the crown, enabling the designers to achieve the most elegant and smooth lines. This is probably one of the most important watches ever to come to the auction and its achieved price of CHF3,235,000 ($3,676,136) should not come as a surprise.