During the early twentieth century, Patek Philippe classified its commercial watches in different terms of quality such as quality 1, quality 2, and quality 3. The first quality was called “EXTRA,” the second “SPECIAL,” and the third was called "EXTRA EXTRA.” The present lot is a watch of “EXTRA” quality, but it is improved. The improvement is in banking pins. The pallet fork, an integral part of the watch’s escapement hits its banking pins almost half a million times a day. A year of constant use can equal over 150 million strikes, which can take a toll on the banking pins. To resolve this potential problem, Patek Philippe, in their best of their best, utilized ruby inserts as banking pins.

Very few of these watches were made, even fewer are known to exist. Most of them were destined for the Geneva Observatory Timing Contests. Usually, watches destined for Observatory Contests were displayed in nickel cases, allowing for observatory personnel to easily access the movement as needed.

The best known Patek Philippe watches with Ruby Banking Pins:

No. 161227 went through Geneva Observatory, sold to Tiffany & Co.
No. 171643 sold to Tiffany & Co.
No. 174087 went through Geneva Observatory, sold to Tiffany & Co.
No. 182989 THE PRESENT LOT. Likely went through Geneva Observatory, sold to Tiffany & Co.
No. 191016 went through Geneva Observatory, sold to Henry Graves (who also bought the most expensive watch ever sold).
No. 191830 went through Geneva Observatory (1^st Prize)
No. 191833 went through Geneva Observatory
No. 197529, likely went through Geneva Observatory, sold to Tiffany & Co.

The Patek Philippe Extract from the Archives confirms the present timepiece. This pocket watch most likely went to the Geneva Observatory Timing Contest in a regular case. Tiffany & Co., which highly prized these watches, wanted a special case for them and therefore, after the watch came back from the observatory, provided their highest quality cases with concealed hinges and serial numbers matching the movement numbers.

In addition to the above, watches of “EXTRA” quality from Patek Philippe include the additional enhancements:

The present lot is of the highest quality with all wheels and arbors jeweled. The entire escapement is also jeweled and capped to assure control not only in the side-shakes, but also to end-shakes. It is superbly adjusted to eight positions and to isochronism, meaning that it will keep the same time regardless of the state of winding and resting. The movement has a temperature compensating balance with gold adjustment screws, assuring that the pocket watch will keep time regardless of the variations in the temperature.

The plates and the bridges are made of maillechort, an alloy of copper, nickel, and zinc. The material bestows qualities for good machinability, low oxidation, and high durability. Developed in 1819, and used in only the best watches, maillechort can be found in the most complicated Patek Philippe watches such as the famous Henry Graves Supercomplication, as well as the James Ward Packard Astronomical Watch. The adjustment of these watches was made to the highest standard, varying within a few seconds per week, therefore, a standard regulator was not sufficient. Instead, Patek Philippe utilized a micrometric regulator, patented in 1867 by George P. Reed. Additionally, the winding wheels of the movement are “wolf-shaped” which allows for higher robustness, assuring centuries of smooth winding.

Thanks to Philip Poniz for his assistance in the research and writing for this lot.

To the best of our knowledge, this watch has never been publicly offered at auction before.