The primary market for watches may be showing signs of slowdown, but the secondary market for certain models remains stable. Following the strong results at the Hong Kong spring auctions this month, the upcoming watch auctions in New York this June are attracting considerable attention. Phillips’ “Important Watches – New York XII” auction will take place on June 7-8, led by a nearly 40-year unseen Patek Philippe reference 1518. Christie’s New York watch auction will be held on June 9, featuring as its highlight a Patek Philippe reference 3974R rose gold minute repeater perpetual calendar wristwatch created in 1989 to celebrate the brand’s 150th anniversary.
Among the 144 lots at Phillips’ “Important Watches – New York XII” spring auction, the star piece is the Patek Philippe 1518 yellow gold wristwatch, held in the same private collection for nearly 40 years before resurfacing at auction. The reference 1518 was first introduced in 1941 and is a classic that established Patek Philippe’s era of perpetual calendar watches. This exquisite piece comes from a prestigious American private collection, having never been worn since its purchase at auction in 1989. The case retains its original factory finish, making it a rare find in pristine condition coveted by collectors.
Another highlight is an extremely rare Patek Philippe reference 530 rose gold chronograph wristwatch, which was produced between 1937 and 1962 with approximately 140 pieces made, of which only about 30 were in rose gold. To date, only 15 of these have appeared on the market. Also making its auction debut is a Patek Philippe reference 570 watch, featuring a rare three-color dial and raised Breguet numerals. Only three similar designs have appeared on the market before, making this the fourth known example and one of the most important and best-preserved vintage time-only wristwatches in history.
At Christie’s, the leading lot is the Patek Philippe reference 3974, launched in 1989 to commemorate the brand’s 150th anniversary. At the time, it was the most complicated self-winding wristwatch globally and has since become one of the most sought-after minute repeater perpetual calendar models over the past 30 years. Before production ceased in 2000, Patek Philippe made a total of 160 pieces of the reference 3974, only 20 of which were in rose gold. This lot is one of them, handcrafted by legendary case maker Jean-Pierre Hagmann (with the “JPH” mark inside). Unlike the typical silver dial and baton hands of the 3974, this example features a rare gray dial. Another highlight is a superbly preserved 18K Everose Rolex Cosmograph Daytona “Rainbow” bezel, reference 116595, a classic design that kicked off the rainbow bezel trend starting in 2018.
