1921 Patek Philippe Repeater

Value (2013) | $40,000 Auction$60,000 Auction
Watch  

GUEST:
I inherited this watch and I have a son named James and ultimately, I think I 'd like to have it go to him. It's a Patek Phillipe which I am familiar with. It's a very fine watch. In fact, I inherited a Patek Phillipe, one of the big repeater watches. I had to sell to educate James and his siblings. But I sold it in the 80s and it wasn't two months later that it was worth $90,000.

APPRAISER:
It was a meteoric rise in the price of these watches and it started in the ‘80s. And like anything, they went up. They came back down but it's happening again. And a lot of it's because of the emerging wealth in other countries. What's great about this watch is, I always say it's a lot about the engine, what's under the hood.

GUEST:
Yep.

APPRAISER:
We're in Detroit, right?

GUEST:
Yeah.

APPRAISER:
And the bells or whistles. The little extras that he paid for it back then which now really, really make a difference.

GUEST:
Sure.

APPRAISER:
The first thing we can show is that it's a chronometer. What's interesting is it's a split second chronometer.

GUEST:
Right.

APPRAISER:
So that's unusual. So if we push the button down.

GUEST:
Ah.

APPRAISER:
We see the second hand is moving. Now let's say you're timing your horse and you're getting to the half way point. You push this other button. Now you have your split timer.

GUEST:
Oh for Pete's sake. Wow.

APPRAISER:
And the other hand keeps running. Now you can keep it there. Let's say you record that split. You can have it catch up and do another split.

GUEST:
Oh, my gosh.

APPRAISER:
And you can split it again. And then when you're done, you can stop it.

GUEST:
Stop it.

APPRAISER:
And then what happens is you return that one and everything goes back to the beginning.

GUEST:
We also have a chime on it too.

APPRAISER:
Right, a repeater. We open it up. If we pull the repeat. We can show the hammers moving over here. And I see that it's ringing to the minute. So it's a minute repeater.

GUEST:
A minute repeater, right.

APPRAISER:
The best there is. It was personally engraved which is always nice.

GUEST:
Yep.

APPRAISER:
We can also show the fabulous engraving and enameling of the initials. You also have a very typical fob. You have the pocket knife, a little mason's thing.

GUEST:
Right.

APPRAISER:
A coin.

GUEST:
Yep.

APPRAISER:
We know that there's a key hidden in there.

GUEST:
Yes, right.

APPRAISER:
And then what happened here? ‘Cause that was interesting.

GUEST:
This is really something I didn't discover until you or one of your associates opened it up. It's a pill box.

APPRAISER:
And he still had his medicine in there. So let's get to the value. It's not the other watch, but because of the fact that it's paddock, split second chrono. It's got two registers and it's a minute repeater. In the market place today, at least at auction, I see this watch for $40,000 to $60,000.

GUEST:
Wow. That's a lot.

APPRAISER:
It may only pay one year of college today.

GUEST:
They're all educated fortunately, right now.

Appraisal Details

Appraiser
Doyle New York
New York, NY
Appraised value (2013)
$40,000 Auction$60,000 Auction
Event
Detroit, MI (June 01, 2013)
Category
Watches

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