A Rare Patek Philippe World Time

4 April 2023

Monaco Legend Group is delighted to announce a very important Patek Philippe World Time wristwatch reference 2523/1 that will be a top lot in its upcoming Spring Exclusive Timepieces auction on the 22nd and 23rd April 2023 in Monaco.

Lot 164

The World Time reference 2523/1 is one of the most exclusive of all vintage Patek Philippe wristwatches, with its iconic two-crown case. Only 15 examples were made in yellow-gold, with the whereabouts of 10 pieces currently known. This watch is being publicly offered for only the second time, having been sold by the original owner at auction in 2013. The watch comes complete with its original certificate that states it was originally sold in 1968 and remains in astonishingly good condition.

Monaco Legend Group Chairman Davide Parmegiani is ecstatic to have this watch in the April sale:

“This Word Time 2523/1, in terms of condition and provenance, is astonishing. It is the only one ever to appear with original box and papers and has only had two owners since 1968, when it was sold 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 really shows that the watch was cherished and really taken care of 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. To further enhance the importance of this watch, a Passport of Expertise from Eric Tortella will accompany the watch in the sale”

Lot 164

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 the reference 2523/1 that 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. The day scale was shown in a light colour with a sun icon and the night section in a darker colour with a moon. The local time can be set by the crown at three o’clock and the outer ring by turning the crown at 9 o’clock until one’s current location is indicated at the 12 o’clock position.

Lot 164

Over its lifetime, both references 2523 and 2523/1 were fitted with a number of dial variations. Principally, the reference 2523 was available with enamel dials and the 2523/1 with silvered or guillochè 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 being worn, a fact supported by the oxidation that is 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. This timepiece is a true grail and a once-in-a-lifetime opportunity for the connoisseur collector.

Lot 164
Lot 164 — PATEK PHILIPPE, Property of a Very Esteemed European Collector, Extremely Well Preserved, Rare and Historically Important, Dual Crown World Time, Wristwatch in Yellow Gold, With Box and Certificate of Origin, Reference 2523/1 – Estimate: € 2,000,0004,000,000 View lot detail

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