Rare Patek Philippe Watch Auctions for Over $3.2 Million

Christie's sold a rare Patek Philippe reference 2499 Serpico y Laino timepiece for CHF 3,252,500 The watch was sold by the descendants of the late owner, who bought the timepiece from the famed jeweler, Serpico y Laino, founded in Caracas, Venezuela in 1925 by jeweler Leopoldo Serpico and goldsmith Vicente Laino The boutique had an exclusive trademark for both Rolex and Patek Philippe and often sold their timepieces, which also bore the name of the boutique beside the name of the brand.

The watch was purchased in the early '60s and is of particularly special provenance not only because Patek Philippe's reference 2499 is considered a holy grail timepiece among watch collectors, but also because no other Patek Philippe reference 2499 from Serpico y Laino is known to exist The watch was also offered in superb condition and bears the stamps "S.&L." and "18K" on the caseback The 376 mm watch houses an 18-karat gold perpetual calendar chronograph with moon phases.

The sale of the Patek Philippe reference 2499 Serpico y Laino and the F.P Journe, Audemars Piguet, and Omega timepieces, all of which sold for well above their estimates at Phillips, prove that while certain references and special models will always command top dollar, nothing commands top dollar like a watch with an enduring story to tell. . Source