This stunning Patek Philippe Eurasia watch could approach 10 million euros.

Patek Philippe watches are regularly the stars of auctions around the world. After the 3843/1 reference and its natural diamond glass or the 3448 that belonged to Andy Warhol, Christie’s auction house is putting up for sale in Hong Kong another exceptional timepiece: the Patek Philippe 18K Yellow Gold Dual-Crown World Time Wristwatch Ref.2523. An exceptional model whose price could flirt (or even exceed) 10 million euros according to the most optimistic forecasts.

The third act of a fabulous watchmaking story

Every appearance of the Patek Philippe reference 2523 under the auctioneer’s hammer arouses enthusiasm. Over the last five years, several sales have thus sent the counters spinning.

In 2019, two weeks after the Grandmaster Chime broke the world record for the most expensive watch ever sold at auction (31 million dollars), Christie’s house set a new record for a watch sold in Asia with a unique model of the Ref.2523. This ‘L’Heure Bleue’ version in rose gold with blue enamel dial, double-signed Gobbi Milano and dated from 1953, was awarded for the modest sum of 8.97 million dollars. A nice profit for its former owner, a collector who had acquired it nine years earlier for about 2.6 million…

The second act takes place in May 2023. This time, it’s a gold version with a partitioned dial representing the North American continent that sends the meters spinning, with a sale closed at 8.55 million US dollars… three times more than its previous auction in 2012.

On May 26, 2024, in Hong Kong, it is the third and last existing version to date of the Patek Philippe Ref.2523 that takes the stage. And according to Christie’s, it is the best-preserved model among these three exceptional watches. This may hope to break a new record for this reference, while estimates are already between 4.9 and 9.9 million dollars (or 4.6 and 9.2 million euros).

What makes this Patek watch so exceptional?

The upcoming Patek Philippe Model Ref.2523 is truly a masterpiece. Created around 1953, this timepiece features an enamelled dial made in cloisonné, a technique which requires high-level artistic expertise. The dial, a work of Marguerite Koch, represents a map of Eurasia with a richness of colors that ranges from purple to turquoise, passing through yellow and dark blue. Each dial is unique, the shades can vary slightly depending on the temperature at which the enamel is fired. The perimeter, made by Stern Frères in 1952, allows the name of 41 cities to be displayed to read the time around the world.

The case is also a masterpiece in itself. Made between 1954 and 1955 by Antoine Gerlach, it is remarkably well preserved, with clear markings and sharp, well-defined angles. It houses the Calibre 12 400 HU, synonymous with precision and elegance. The two crowns, made of 18 carat gold, are the original ones from Boninchi Brothers, adding an extra touch of refinement to this timepiece.

As you may have gathered, this watch is not only an exceptional piece, but also a sublime testimony to the art of watchmaking of the 1950s. There is no doubt that the rarity and beauty of this watch should attract the most demanding (and fortunate) collectors at the upcoming sale in Hong Kong.

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