Friday, May 30, 2014
When the gravel pounded on the sounding block with finality, history was set at Christie’s New York Important Watches auction last June 2013. As the smoke cleared from one of the highest profiled auctions in the world, Patek Philippe made a record: $2.25 million for a Patek Philippe Grand Complication. A complication is any functions added to the usual watch time functions of hours, minutes and seconds. A grand complication is tenfold more complex. The Stephen S. Palmer Patek Philippe Grand Complication No. 9791 fetched over a million dollars more from its target auction of $1.5 million. Manufactured in 1898, it features a minute repeating perpetual calendar split-seconds chronograph with grand and petite sonneries and moon phase. Palmer bought the watch in 1900 for around $7,100. Not bad for an investment.
Patek Philippe is available at Shreve & Co. on Post Street, San Francisco.