Lot 38
Lot Has Ended

PATEK PHILIPPE, ASSOCIATED MOVEMENT, REF. 2526

Price Realised: USD 15000.00
Estimate : USD 15,000 - 25,000
Description

PATEK PHILIPPE
ASSOCIATED MOVEMENT, REF. 2526

CIRCA: 1950s
CASE MATERIAL: 18k gold
CASE DIAMETER: 35mm
BRACELET / STRAP MATERIAL: Black crocodile with associated buckle
DIAL: Enamel
MOVEMENT: Automatic
FUNCTIONS: Time only
CALIBER: 12-600

Lot Notes

Φ Please note the endangered species strap is shown for display purposes only and is not for sale. Upon sale, this watch will be supplied to the buyer with a [brown] calf leather strap (not shown). The endangered species strap may be available for collection from the New York Christie’s saleroom – please contact Christie’s Client Service Center at watchesonline@christies.com
For further information please refer to the Terms and Conditions.

Δ Christie's Owned or Interest
Please refer to the Conditions of Sale for further explanation of Christie's owned or interest stock

The condition of lots can vary widely and the nature of the lots sold means that they are unlikely to be in a perfect condition. Lots are sold in the condition they are in at the time of sale.

The case is in good condition with scratches. The case has been lightly polished. The case has nicks on the side of the case at 4 o'clock. The hallmarks on the case back and on the back of the 5 o'clock lug are visible. The case back is engraved, "To Fred Rettenmeyer with warmest sentiment and appreciation from Jim Napier Feb. 15, 1957." The dial and hands appear to be original. The "PP" crown is original. The enamel dial has no visible cracks. The crystal has scratches. The movement is in working order at the time of cataloging, consistent with the age of the watch. The movement is a Patek Philippe period correct replacement. The movement has not been tested for accuracy. A service is recommended given the age of the watch.

The condition of lots sold can vary widely due to factors such as age, previous damage, restoration, repair and wear and tear. The nature of the lots sold means that they will rarely be in perfect condition. Lots are sold in the condition they are in at the time of sale.

Additional Charge Details

Additional charges, including buyer’s premium, local taxes, shipping expenses, loss damage liability fees, customs duty/import tax, and all other applicable charges will apply. You can view all of the tax, VAT, import tax, and customs duty costs associated with a lot by clicking on Total Cost Calculator under the bid button.

AN IMPORTANT UPDATE REGARDING NEW YORK SALES TAX

Christie's is required to collect New York sales tax for any property purchased in this sale if (a) either you or your agent (including a contract carrier) collect the property in New York (even if New York is not the final destination) or (b) Christie's arranges shipment of the property into New York State. The amount of New York sales tax varies depending on the location of the shipment within New York State. We recommend that you obtain your own independent tax advice if you have further questions.

For inquiries, please contact Christie’s Client Services at +1 212 636 2002 or +44 (0)20 7839 9060 or by email at watchesonline@christies.com.

Payment Information

You must pay the full amount due (including any additional charges) no later than March 16, 2017. This applies even if you wish to export the lot and an export license is required. You will not acquire title and own the lot until all amounts due to Christie’s have been received by Christie’s in full, cleared funds.
Purchases cannot be delivered to P.O. boxes. If you opt to collect your purchase(s) at the Christie’s location where the property is located, kindly email Christie’s Client Service Center at watchesonline@christies.com to schedule your collection at least 24 hours in advance and to secure any relevant forms. Payment must be made online prior to collection. Collection is only available at the Christie's location where the property currently resides. Should you send someone to collect your purchase(s) on your behalf, please complete a Letter of Authorization and send it to us at watchesonline@christies.com prior to collection. Your representative must present a valid picture ID at the time of collection, such as a driver’s license or passport.

Collection Notice
Due to impending weather in the New York area, collection of property will not be available on Tuesday, March 14th from the Christie's Rockefeller Office.

Lot Essay

The reference 2526 was the first self-winding watch made by Patek Philippe. This model came out in 1953 and was produced until the early 1960s until it was succeeded by the reference 3428. This particular example features the highly sought after first series dial. The original movement was not functioning properly, but instead of fixing it Patek Philippe decided to change the entire movement. As a result of this movement swap, Patek Philippe will not issue an extract from the archives for this watch. Movement swaps were a common practice by Patek Philippe in the 1950s, but unfortunately they did not keep records of what replacement movements were put in what watches.

The original owner, Frank W. Rettenmeyer ( June 29, 1891 – April 29, 1965) was the former president and Chairman of the Napier Company. The firm was established in 1875 as Whitney and Rice of Attleboro, MA, manufacturing men’s pocketwatch chains. The company changed names a few times and eventually became Napier Co. This company was at one time the largest privately owned jewelry manufacturer in the USA. Frank Rettenmeyer worked at this company for 58 years and was named president In 1960 and retired in 1964 and passed away one year later in 1965. The present watch was given to Frank to celebrate his 50th anniversary at the company in 1957.

The estimate is reflective of this fact about the movement however this is still a desirable watch overall, especially with the first series dial and interesting provenance.

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