Christie’s Sets New Record For Patek Philippe Ref. 2523 In Hong Kong

Vintage, Watchmaking history

Tiziano Patti

DATE

30 May 2024

History of the ref. 2523

Reference 2523 HU, an abbreviation for the universal hour function, was launched in 1953, replacing the previous ref. 1415 HU, which was produced from 1939 for the next 15 years.

It was Louis Cottier, a Genevan watchmaker, who invented and patented the “World Time” system in the mid-1930s, and subsequently, between 1953 and 1965, he received from Patek Philippe the exclusive commission to produce some 45 movements equipped with this complication, modifying house 12 400 calibers and making them into 12 400 HU calibers.

It is thought that in total only 26 watches were made with the reference 2523: 18 in yellow gold, 7 in rose gold, and 1 in white gold.

Although ref. 2523 was in Patek’s catalogs until the mid-1960s, the 25 cases in yellow or rose gold were ordered between 1953 and 1954 and the only one in white gold in 1955, with the last deliveries in 1957. Later the design was modified, as was the reference becoming 2523-1, making an additional 20 examples that although similar differed in lugs and other small details.

The cases of both versions were all made by Antoine Gerlach, measuring 35.5 mm in diameter, while the dials were produced by Stern Frères, and in the case of enamel dials worked on by excellent enamel artists such as Nelly Richard and Marguerite Koch, both employees of Stern, a well-known dial manufacturer at the time.

The Cloisonné Dial

Cloisonné enamel dials occupy a prominent position in terms of craftsmanship and rarity, particularly when it comes to Patek Philippe, adding an artistic touch to the brand’s historic references. Cloisonné enamel consists of creating through thin threads of gold the edges of the subject one wishes to depict, in the case of Christie’s Europe and part of Asia lot, by subsequently adding several layers of enamel fired in a kiln in as many passes, guaranteeing a certain three-dimensionality and thus charm to the watch.

Stern Frères, as mentioned above, was the main producer of dials with this workmanship in the decades following World War II, supplying Patek Philippe, as well as the other major brands, with these wonderful works of art.

The 2523 With Cloisonné Enamel Dial

The watch passed at auction at Christie’s in Hong Kong represents the most desirable maximum for a Patek Philippe collector, comparable probably only to rare configurations of large complications, among them the 1518 in its steel configuration, produced in only four examples.

The one achieved is a new record for this reference, surpassing by about 600,000 CHF the already incredible result achieved by Phillips three years ago.

To better understand the uniqueness of this watch it is appropriate to list, of the only twelve products with cloisonne dials, the different depictions.

6 with map of North America: 3 in yellow gold, 2 in rose gold, 1 in white gold;
3 with map of South America: 2 in yellow gold, 1 in rose gold;
3 with map of Eurasia, all in yellow gold.

These numbers highlight how dials with the design of the Americas are more common than those depicting Eurasia, such as the lot sold by Christie’s, probably because of Stern’s reality ties to the United States and consequently the provenance of those who, in the years following World War II, ordered pieces of this prestige.