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Icons, with Automotive and Watch Designer Jonathan Ward

By Laurent Martinez

Jonathan Ward may be best known for his automotive company, Icon4x4, which custom-builds classic cars furnished with modern tech and cutting-edge materials, but he is first and foremost an industrial designer and craftsman. In addition to his sublime car restoration projects, Ward also likes to channel his creativity into making handmade leather goods (think jackets, luggage, purses, and wallets) – and into designing watches.

The ICON4x4 founder comes from a line of car guys—his grandfather owned a repair shop in Virginia, where a young Jonathan would spend his school vacations studying auto parts and tools from the fifties. Ward’s early interest in cars was further fueled by his father’s enthusiasm for them. Father and son would attend car shows together.

Ward believes you are either born with or without an appreciation for details. At seven years old, he moved from a small town in Maryland to New York City. That move made a significant impression on the soon-to-be designer.

The sky-high architecture and ground-level store displays sparked his lifelong curiosity about how things are made, and more importantly, what does it take to make them even better. He remembers being fifteen years old in his dad’s garage taking apart a digital flip clock and putting it back together just to understand how it worked.

While not formally trained in design, Ward had an open mind to find inspiration everywhere. Whether transportation, architecture, or consumer goods, the challenge of being an industrial designer is to create a cohesive package that balances looks, engineering and utility. While he is certainly mechanically capable, Ward makes sure he surrounds himself with a team of expert engineers so he can focus on design.

Ward and his wife Jamie started the TLC Land Cruiser service center in the mid-1990s, which paved the way for Jonathan to become a consultant for Toyota. His work with Toyota and Mr. Toyoda resulted in the 2007 Toyota FJ Cruiser.

Watch guy

Given his appreciation for design and mechanics, it comes as no surprise that Jonathan is a watch guy too. He is a passionate watch collector but quite different in his approach from other collectors I’ve met. Rather than caring about particular brands and ultra-popular models, he focuses on designs, styles, and aesthetics that speak to him.

For instance, until relatively recently, he resisted collecting Rolex watches as he believed those pieces are more about making a social statement.

One of his first watches was a Bulova with a red LCD. However, he found his passion for watches when he found his grandfather’s Hamilton in the attic and restored it to its full glory as a birthday gift to his grandfather. This exercise sent him down the rabbit hole of Art Deco, Art Nouveau, and Streamline design language in the world of horology.

At the time, his collection was limited to six or seven timepieces. Once his business was established, he was able to indulge in his watch hobby.

Today, Ward owns more than 115 watches, ranging from $40 watches to vintage classics with great patina and tropical dials to high-end avant-garde pieces. He also makes his own watchstraps, which he believes augment the look of the timepiece—especially for smaller 32mm to 34mm cases.

Jonathan Ward owns more than 115 watches.

Design language

When Ward buys a watch, the first thing he looks at is design language, identity, and consistency. He prefers time-only watches or GMT watches, and has a particular interest in the provenance of the watch.

When he bought a military watch at a car show in Germany, the set included photos of the owner wearing the watch, which he loves. Thanks to actual images, Ward can imagine that military pilot wearing his watch while flying a plane during combat so many decades ago.Ward also owns an unbranded early marine chronograph that was gifted to Jacques Cousteau who then gave it to one of his main divers. The watches Ward collects are not necessarily expensive—for example, he owns a Waltham that was produced in low numbers—because he’s all about the designs and stories behind the watches.

The Icon Duesey

Along with designing cars, Ward has also poured his passion for watches into designing them.

His first watch design is the Icon Duesey, which is inspired by the dashboards of the vintage Duesenberg SJ automobile. The jump hour display of the watch is modeled after the original trunk-style gauge of the car.

Using Fusion 360 CAD software, Ward designed the case, crown, clasps, dials, and other components of the watch until he was finally able to print a few prototypes with his 3D printer. He used Computerized Numerical Control (CNC) machining to manufacture the case and a Dubois Dépraz-modified ETA base caliber for the movement.

Ward’s Icon Duesey merges traditional aesthetics with modern materials.

During the process, Jonathan realized how complicated it is to develop and manufacture a watch—especially if you want to follow the Swiss Made parameters. He wanted to ensure that any advanced watchmaker could service the watch.

It took Ward a tremendous amount of time to get the deep black porcelain dial right. The straps all had to be made according to highly specific requirements. Just like the Icon cars, the Icon watch merges traditional aesthetics with modern materials; the case is crafted from T5 titanium while the bezel is formed from T2 titanium. Why? Because Jonathan’s friend is allergic to traditional titanium.

As a designer with an obsession for details, even the box that the Icon Duesey includes special storage underneath that can house five watches.

I think this is a very clever idea. Ward supervised the entire manufacturing process of the ICON Duesey because, after all, his ultimate goal was to make the perfect watch for himself.

Only fifty examples of the ICON Duesey were made. Only a few remain for sale. Amazingly, ICON watch buyers are not the same as ICON car buyers. Ward says he has successfully enticed an entirely new audience for his company. I can sense just how proud he is of the watch.

As Ward’s wife Jamie is the more financially conservative of the two, Jonathan has agreed that he’ll only start creating a new watch once every Icon Duesey piece is sold. He has a GMT model in mind since he’s a frequent traveler. And this time, the design inspiration will be a yacht; a classic teak-deck style for the dial and copper and brass for the case.

I look forward to seeing what Jonathan Ward will come up with because I know, whatever he makes is driven by his unwavering passion for great design.

Laurent Martinez is the proprietor of Laurent Fine Watches Greenwich, Connecticut. Read more by him at blog.laurentfinewatches.com or visit his store’s site at www.laurentfinewatches.com.

Casio September 6, 2021

Collector Interview: John Demsey

By Laurent Martinez

I would like to share with you a recent conversation I had with John Demsey, executive group president at the Estée Lauder Companies.

Demsey is well-versed in beauty, luxury, and creativity, so it may not come as a surprise that John is a watch guy too, with a love of timepieces that stretches back to his childhood.

At six years old, Demsey got his first watch, which was a Timex, and as he recalls it, a big deal. He came into possession of his second watch as a teenager during a trip to Japan when he picked up a special edition Seiko watch made for the Osaka Expo 1970 world fair.

As LED became the fashionable watch technology of the decade, John’s father then gave him a futuristic Pulsar timepiece.

However, what came next was Demsey’s “first real watch,” and it’s what most of us will agree is an absolute grail-worthy piece.

On his sixteenth birthday, Demsey’s father gifted him a Royal Oak, the very one that Gerald Genta designed for Audemars Piguet. Not only did John get a first-generation Royal Oak, but his dad bought himself a matching one too.

Hearing John tell the story, you can feel the emotion that surrounds this special occasion. It’s a memory that is as vivid and clear as if it happened yesterday. I love hearing about fathers and sons owning identical watches; I find it to be a beautiful and symbolic expression of tight familial bonds and being connected by time. For John, watches represent a continuation of life when special pieces are handed down from generation to generation.

Design appreciation

Watches are, of course, a combination of beautiful art and industrial techniques, which parallels Demsey’s upbringing with a mother who was a painter and a father who ran a steel processing plant. His appreciation for design and beauty goes far beyond timepieces, as John is also an avid collector of art, photography and furniture.

For Demsey, watches are one of the few objects that men can wear to signify personal style. He learned from an early age about the subtle cues a watch could tell another person. It can speak volumes about who the wearer is, what he finds stylish, how he regards time, and what his passions are. On a recent trip to Japan for example, Demsey observed the frequent pairing of designer jeans and Rolex Sea-Dweller watches.

Demsey also associates watches with certain periods of life, especially with milestone events like graduation, career achievements, and so on. Buying a special watch is a way to give added significance to an event and it can also be a meaningful way to memorialize certain places, experiences and people.

Similar to other collectors, John Demsey’s collecting journey has ebbed and flowed according to changing personal tastes and preferences. His focus has always been on the design of the watch, whether the color, bracelet, or style, rather than movements or timekeeping.

For example, he went through a period of collecting every single rendition of Andy Warhol Piaget watches—in seven colors. He found the design so special that he even custom-ordered dials, which is telling of John’s appreciation for timepieces with unique style.

Demsey’s Andy Warhol Piaget watches, plus a Patek Philippe Ellipse.

The Classics

But that’s not to say he doesn’t appreciate the classic icons either. He’s a big fan of Rolex, especially Daytona “Paul Newman” chronographs, and given his early discovery of Audemars Piguet’s famed sports watch, he’s also a fan of Gerald Genta hits like the Royal Oak and the Nautilus.

He enjoys the hunt of finding a special watch that few have. His decisions are not random but purposeful, as he takes the time to stay up-to-date with the watch market. He follows auction houses, reads Hodinkee and IW Magazine, and his social media feed includes watch brands and watch influencers. A good watch purchase for John is a mix of an emotional connection, a striking aesthetic, and topnotch quality.

While he used to stick to the “one in, one out” rule when collecting watches to ensure that they all got good wrist time. While the guideline has changed slightly to “three in, one out,” Demsey still believes that watches should be worn and not locked away in a safe. He doesn’t buy them for a future return on investment but simply because he loves them. He purchases watches using a variety of sources, including auctions, dealers, boutiques, online platforms, and can sometimes get an insider’s tip on an available piece via a phone call too. However, he says that his best watches were found during trips to Milan and Rome.

When I asked Demsey how he feels about luxury watch brands selling their timepieces online, he doesn’t think anything can replace the experience of an in-boutique purchase. Trying on watches in a store or discovering a hidden timepiece in the back of the shop is all part of the excitement of in-person watch shopping. Yes, you can certainly find and buy watches easier online and the Internet can help you locate a seldom-seen reference, but the sense of discovery and anticipation can also be lost.

However, the online watch world is a great place to get educated about watches. For example, if Demsey finds something he likes, he does his research online first to make sure prices and other details are in order before pulling the trigger.

It’s no secret that watch buying and collecting has flourished over the last fifteen years or so. Demsey believes that this phenomenon is fueled in part by people seeking objects that are timeless in design and built to last. We’re bombarded with so many disposable items today that grounding ourselves with beautiful and long-lasting pieces like art, furniture or watches can give immense pleasure.

Independents

The watch market is certainly not immune to fleeting trends; we’ve witnessed so many watch styles over the decades, from the understated and restrained to the opulent and oversized. Gold metals moved aside for white metals, only to come back again in full force. Demsey believes that there will be a rebirth of the aerodynamic designs that were prevalent in the 1970s joined by the smaller Art Deco-inspired pieces that gained prominence in the 1930s.

Demsey also admires exclusive independent watchmakers like F.P. Journe that find their voice and produce small batches of high-quality timepieces for an enthusiastic following. In fact, during these past eighteen months, Demsey became even more interested in watches. This is despite being tethered to his at-home computer screen where the time is always on display and he has fewer occasions to wear his watches out in the world. Yet, he discovered new watch brands and models, just like the H. Moser & Cie piece strapped around his wrist during our interview. He clicked with the brand, just like he did with Urban Jürgensen and Ressence.

After hearing John speak during our interview, I have a sense that his appreciation of art, love of collecting, and emotional connection to beautiful objects were rooted at a young age and have become an integral part of his life. His enthusiasm for watches is one way in which he expresses his passion for great style and it was a pleasure to learn about his story.

Laurent Martinez is the proprietor of Laurent Fine Watches in Greenwich, Connecticut. Read more by him at blog.laurentfinewatches.com or visit his store’s site at www.laurentfinewatches.com

A. Lange & Söhne April 1, 2021

Collector Interview: Steven Posner

By Laurent Martinez

I have noticed that enthusiasts, whatever their domain, generally become passionate about a subject from an early age. For Steven Posner, it started with an interest in food, then cars, and later on, watches. As a youngster, Posner wanted to become financially independent, so he worked part-time as a busboy at the fast-food joint, Nathan’s. From the front of the house he eventually moved into the kitchen where he learned how to cook, then he worked his way up to take a position at the counter where he honed his customer service skills.

Steven Posner, founder of Putnam Leasing.

After graduating from high school, Posner took a job as a driver for a Long Island car leasing company but shortly moved to work for a competitor—first as a driver then as a salesman. He continued to pursue his sales career across several leasing companies throughout the 1980s.

However, he soon realized that he wanted to venture out on his own and become a business owner. It was clear that exotic cars were Steven’s forte, so he founded Putnam Leasing and brought in Cyndi and Richard Koppelman, owner of Greenwich-based Miller Motorcars, as a partner. Today, Putnam Leasing is the leader in exotic and collector car leasing, offering cars like Ferrari, Aston Martin, Bentley, and Lamborghini, just to name a few.

Greenwich-based Miller Motorcars partners with Putnam Leasing.

Passions

Posner’s appreciation for design, beauty, and mechanics when describing cars is palatable. He waxes poetic about older cars being handmade and exalts their use of metal over plastic, genuine leather instead of leatherette, and so on. He also emphasizes that these types of cars hold their value.

He has the same type of passion for watches too, as illustrated when he spoke about his first Seiko chronograph.

Posner’s appetite for fine watches began when he was in his late-20s. He purchased a 1963 gold Rolex Oyster with a black dial for $1,600. After six years of wearing the watch daily, he got $3,000 for it. Steven realized that just like old cars, old watches could gain value as well—as long as you pick the right ones.

As his Rolex and Patek Philippe watch collection grew, so too did his appreciation for vintage watches. While new models are certainly beautiful, vintage pieces are what capture his attention. He diligently checks the Instagram accounts of his preferred dealers every morning to see what they have available. He understands that developing genuine relationships with key dealers is how he can get his hands on exceptional timepieces.

A Rolex Milgauss in Posner’s collection.

Considerations before buying

Posner approaches buying watches much the same way he examines cars, which is to say he considers condition, price, rarity, and design. He doesn’t believe in buying a watch “at a good deal” if it needs too much work to get it right.

Whether cars or watches, his mantra is to always buy the best you can find, even if that means paying a higher price now because, in the end, these examples will always be worth more when reselling.

As a long-time collector, Posner always advises new collectors with limited budgets to stick to popular brands. He asserts that brands like Rolex, Patek Philippe, Omega, F.P. Journe, and A. Lange & Söhne are generally sound acquisitions as there will always be a market for them. He also adds that it’s important to buy something you will enjoy wearing instead of a watch that will stay in the safe.

When I asked him what cars, watches, food, and wine have in common, he pointed out that wearing a nice watch, driving a nice car, or sharing a meal with friends and family in a nice restaurant can make us feel good. These are ways to enjoy the finer things in life.

Demand will remain

Even if the world is changing, Posner believes that the world of antique cars, watches, and wine will remain largely the same in twenty years. People will continue to pay attention to status. He also believes that fine machinery, whether a car or watch, will be worth even more in twenty to thirty years than they are now.

The big brands have created the market, and demand will always be there, he says. Of course, some companies are stronger than others and Posner thinks that a brand has to offer something special to last. There will always be enthusiasts that appreciate the smells and sounds of vintage cars or the beauty of a grand complication.

(The full interview with Steven Posner and his analysis of the exotic car market and vintage watches is available here and at blog.laurentfinewatches.com.)

Laurent Martinez is the proprietor of Laurent Fine Watches, Greenwich, Connecticut. Read more by him at blog.laurentfinewatches.com or visit his store’s site at www.laurentfinewatches.com.

Profile: Richard Lopez, Senior Vice President, Sotheby’s Watch Department

By Laurent Martinez

In the world of watches, becoming a senior executive and department head at a prestigious auction house is one of the most rewarding positions to get. It is often regarded as a dream job that many want but few can attain. As expected, it’s a position that requires plenty of work, expertise and human skills.

I have had the privilege to meet and interview someone who is in this position: Richard Lopez, SVP, Senior Specialist, and Head of Online Sales at Sotheby’s.

Richard’s approachable demeanor and friendly smile are a clear indication that he loves his job and appreciates all the vintage and contemporary watches that surround him day-to-day.

Richard Lopez is Senior Watch Specialist at Sotheby’s.

When I asked Richard how he found himself in the watch business, he told me that he thought he would be an architect. But as is often the case, life had a different path for him. When Richard was an architecture student more than twenty years ago, he was looking for a job for a little extra pocket money.

One day, he passed by the famed Betteridge watch and jewelry boutique in Greenwich, Connecticut, where he saw a trainer teaching the staff how to use special software for engraving. He quickly realized that the software was very similar to the CAD programs that he used for architecture. After showing the Betteridge team that he could engrave a piece in a couple of minutes, he became the in-house engraver—and eventually added polishing to his duties.

Once Richard began learning how to solder and started training as a jeweler, he decided to take a break from school. After a handful of years as a bench jeweler at Betteridge, he switched roles to become the company’s watch repairs coordinator. Not only did he discover a wide variety of timepieces, ranging from quartz to grand complications, during this period but he also had the opportunity to learn from Swiss-trained watchmakers as part of his job. Lopez ultimately fell in love with watches and watchmaking.

Auction houses

After climbing the ranks at Betteridge, Lopez joined Christie’s as a watch specialist and online retail manager. Not long after he joined, the online Christie’s Watch Shop made its debut, which marked a major step in the company’s e-commerce strategy. Lopez’s foray into the auction house market gave him even greater access to extraordinary vintage and modern timepieces, and permitted him to hone his skills in the realm of luxury e-commerce.

Today, Lopez is head of online sales and a senior watch specialist at Sotheby’s and he is based in New York. It is a role that he took on earlier in 2020, a pivotal time for online sales due to the global pandemic.

Like most other industries, auction houses are shifting focus from live events to online channels. Since Sotheby’s will only host in-person auctions twice a year (June and December) for the foreseeable future, Lopez is responsible for launching weekly and monthly online auctions to make up for the current restrictions.

Additionally, he also has to organize lots for the two in-person auctions by curating, qualifying, and authenticating timepieces. Along with his team in the New York office, which also covers the East Coast of the U.S., Canada, and Latin America, there is the Los Angeles team. Most of the timepieces are sourced from private clients and a few dealers.

Hands-on

Lopez’s experience as a jeweler and in watch repair prepared him for his current role. It takes a certain type of hands-on experience to understand the nuances of vintage timepieces, particularly if information about a specific watch is not readily available from the manufacturers.

For instance, with vintage Rolex Daytona “Paul Newman” watches, it’s important to remember that Rolex has never disclosed how many were made, how many versions there are, and the exact years they each version was produced. Unlike some other watchmakers, Rolex does not offer any type of archival or authentication services, so it is up to collectors, scholars, and professional experts like Lopez to investigate, study, and compile the information.

The record-breaking ‘Paul Newman’ Rolex.

Only with a great understanding of the watch at hand and the current market condition can an appropriate price estimate be given to the client looking to auction his or her timepiece.

Given the current times we are living in, Sotheby’s has decided to lean towards an online platform since the reach is vastly wider than the classic auction catalog. In addition to generating more traffic, an online platform provides plenty of data, such as how many clicks per page and which models have been viewed the most.

This type of information can then be analyzed to predict customer needs and potential trends. For a long time, auction houses never thought that they could convince a large number of buyers to buy expensive fine watches online. It was always understood that potential buyers had to see the watches “in the metal” before even considering placing a bid.

But that is no longer the case—seasoned collectors are happy to purchase online as long as the accompanying pictures and information are clear enough to tell the full story. Clients are also more comfortable if there is an easy return policy and if the watch is being sold by a renowned name like Sotheby’s. To further protect its clients, Sotheby’s always provides detailed condition reports and authenticity guarantees with each watch available for auction.

Strong team

Having a team that truly understands how to navigate the online luxury business is one of Sotheby’s greatest assets. Plus, the team’s ability to make quick adjustments during all the uncertainties that COVID brought about, such as working remotely while still in full control of consignments and sales, allowed Sotheby’s to execute more than twenty online events in the summer compared to some competitors that could only complete a fraction of those numbers.

Sotheby’s weekly online watch auctions list around fifteen to twenty lots for bidding while monthly online sales can reach 200 timepieces in the mid to high-end watch segment.

The two annual in-person events are where Sotheby’s showcases incredible grail watches that command attention from collectors across the globe. These auctions will maintain the customary format of a preview of the watches available at Sotheby’s, followed by an auctioneer-hosted auction in the main room.

Demand rises

The supply of and demand for top-tier timepieces remains strong and it is projected to grow. Rolex and Patek Philippe lead the charge with a slew of coveted sports watch models that have hefty prices to match their insatiable demand. Consumers who are unable to buy popular luxury sports watches in the retail market are turning to the secondary market and discovering a bevy of other watch models from the likes of Audemars Piguet, F.P. Journe, Panerai, and others.

Although it must be said that while brands like Rolex and F.P. Journe have contemporary watches that are highly valued in the secondary market, it is the vintage segment that is the star of that market. More and more, consumers are treating watches as investments, which can sometimes outshine gold, diamonds, and jewelry as investment pieces. The current-production steel and ceramic Rolex Daytona that retails for about $13,000 is frequently being traded around $25,000 in the secondary market—a return on investment that is hard to beat.

While brands like Rolex and F.P. Journe have contemporary watches that are highly valued in the secondary market, it is the vintage segment that is the star of that market.

As a professional in the watch industry and an avid watch collector, Lopez has learned that although a fine watch is most certainly a luxury and not a necessity, if you really want a timepiece and it fits your budget, go ahead and buy it. Not only will you enjoy the watch immensely, if you also take good care of it, it may sell for a premium in the future. His biggest advice is to keep your box and papers because a complete set will always be more valuable.

Keep your vintage watch’s box and papers.

Talent, enthusiasm, experience, and hard work can open up an array of possibilities and, as with Richard Lopez, it may even lead to a dream job where the profession is dependent on a personal passion.

Laurent Martinez is the proprietor of Laurent Fine Watches, Greenwich, Connecticut. Read more by him at blog.laurentfinewatches.com or visit his store’s website.

Found Under a Sofa: Patek Philippe Ref. 2499 to Star at Auction

By Laurent Martinez

For most collectors, there’s always one coveted piece that stands above the rest—the so-called grail, if you will. And in the world of vintage watches, most would agree that the Patek Philippe Reference 2499 holds that honor.

Widely regarded as one of the greatest timepieces designed by the renowned Swiss watchmaker, Reference 2499, a manual-winding Perpetual Calendar Chronograph with Moonphase produced in very low quantities, is the quintessential Patek.

When a Patek Philippe ref. 2499, comes to the auction block, the vintage watch world pays attention.

Few have had the privilege to see a Reference 2499 in real life, let alone touch one. Watch experts recognize this very special timepiece as one that perfectly combines incredible exterior design with a masterful internal movement.

Given the rarity and collective fascination with the Patek Philippe ref. 2499, when one comes up to the auction block, the vintage watch world pays attention. Collectors won’t want to miss the chance to see it, study it, and most importantly, share a room with other fellow enthusiasts whilst witnessing the inevitable bidding battle that will ensue to claim this watch as his or her own.

Sotheby’s New York on December 15th will be hosting a holiday season watch auction with a magnificent example of the revered Patek Philippe Reference 2499 as the star of the event.

Few were made

Succeeding Reference 1518 and preceding Reference 3970, Patek Philippe produced Reference 2499 from 1950 until 1985. Despite only 349 pieces ever made, there are four distinct series of the ref. 2499 to note.

The first series was in production from 1950 until the mid-1950s and features square chronograph pushers, applied Arabic numerals, and a tachymeter scale on the dial. There are less than four-dozen of these ref. 2499 watches in existence. The second series, manufactured from 1955 until 1966, include round chronograph pushers, applied baton or Arabic numerals, and a tachymeter scale on the dial.

Next in line was the third series, made from 1960 until 1978, with round chronograph pushers, applied baton indexes, and no tachymeter scale on the dial.

Finally, the fourth and last series of the Reference 2499 is dated from 1978 to 1985 (with later examples taking on the reference 2499/100) and the watches have round chronograph pushers, applied baton numerals, no tachymeter scale, and sapphire crystals shielding the dials.

Fourth series star

The Patek Philippe Reference 2499/100 coming up for sale on December 15 in New York at Sotheby’s belongs to the fourth series family. And it is simply a magnificent piece manufactured in 1981. While the creamy dial is in very good condition it is not perfect.

The dial does have some discoloration owing to the humid conditions of the Southern United States, where its owner resides. The customary applied gold batons mark out the hours while the three subsidiary dials for minutes, date/moonphase, and running seconds sit at 3, 6, and 9 o’clock, respectively. The double windows displaying the day and month are placed at 12 o’clock while the gold hands at the center are in the “Dauphine” style.

Tiffany branding

A closer look at the dial reveals the coveted “Tiffany” branding, which makes this example of the Reference 2499 even more exceptional and rare. Sotheby’s consulted with Patek Philippe to see how many Tiffany marked examples were made but there are no records in-house.

The winding crown is furnished with the Patek Philippe logo and of course, the chronograph pushers are round in shape. The interior of the yellow gold case back is engraved with Patek Philippe Co – Genève – Swiss – 2499 – 100 – 2.779.174.” Housed inside the yellow gold case is the manual-winding Caliber 13-130, featuring 23 jewels and numbered 869.425. Potential bidders will be happy to know that the watch keeps very good time.

Housed inside the yellow gold case is the manual-winding Caliber 13-130, featuring 23 jewels and numbered 869.425.

This Patek 2499 is fitted with a brown lizard Patek Philippe strap with a gold Patek Philippe buckle. The width in between the lugs is 20mm and 14mm at the buckle end. The interior of the buckle is engraved with “To AIL – Love – BKL – 7-5-96” and both the case and buckle include all the required poinçons or hallmarks.

Under the sofa

The watch was first appraised 20 years ago but it was lost for some time inside the estate. After a long period of searching, this superb Patek Philippe 2499 was finally found inside the house, underneath the sofa. No one knows quite how long it had been lying there, hidden from the world.

As a one-owner Patek Philippe Reference 2499, this is the first time this watch comes to auction. The estimated price is between $500,000 and $800,000, even though I think it is a conservative figure.

For any inquiries about the watch, please contact Richard Lopez, SVP, Senior Specialist, and Head of Online Sales at Sotheby’s at [ Richard.Lopez@sothebys.com ]

The Patek Philippe Reference 2499/100 will draw bids at the December 15 Sotheby’s auction in New York.

Wishing you a safe, happy, and joyful season.

Laurent Martinez is the proprietor of Laurent Fine Watches, Greenwich, Connecticut. Read more by him at blog.laurentfinewatches.com or visit his store’s site at www.laurentfinewatches.com

Laurent Martinez

Icons, with Automotive and Watch Designer Jonathan Ward

Collector Interview: John Demsey

Collector Interview: Steven Posner

Profile: Richard Lopez, Senior Vice President, Sotheby’s Watch Department

Found Under a Sofa: Patek Philippe Ref. 2499 to Star at Auction

Rolex Lands On The “Moon”

Chopard Returns to Mille Miglia

Hublot Sponsors Two Teams at Regatta