On April 8, 2014 our friends at Leslie Hindman Auctioneers will host perhaps the most impressive Timepieces auction in their history. This upcoming sale No. 294, will include 91 lots with rare and exclusive timepieces coming from different Estates including the property from the Estate of Gerard L. Cafesjian from Naples, FL, the property from the Estate and Trust of Elise Reeder Olton from Boca Raton, FL, the property from the Collection of a Member of the Royal Family of the United Arab Emirates and a property of a Palm Beach Estate. The auction, to take place next April 8th at 5:30pm CST, will include several highly collectible Patek Philippe timepieces as well as a nice assortment of vintage and modern timepieces from Vacheron Constantin, Audemars Piguet, Girard-Perregaux, Rolex, Longines, IWC and Corum amongst others —we will be showing you in the next weeks some of the special pieces they will be auctioning. Nevertheless, the star of the auction without a doubt will be a very rare Patek Philippe 18K Yellow Gold Perpetual Calendar with Moon Phases ref. 3448 for Tiffany & Co. with movement number 1,119,164 and case number 325,520.
This fascinating Patek Philippe 18K Yellow Gold Perpetual Calendar with Moon Phases ref. 3448 for Tiffany & Co. circa 1970, features an 18K yellow gold case measuring 37.50 mm in diameter and 12 mm in thickness. The watch features a silvered dial with day and month apertures at 12, a date and moon phase indicator at 6 o'clock, dauphine hands, pearl minute track, raised gold hour markers and with the Tiffany & Co. imprint on the dial as this particular watch was originally sold by them.
While this example to be auctioned next month, is nowhere near the rarity of the Patek Philippe 18K Yellow Gold Perpetual Calendar with Moon Phases ref. 3448 Blue dial from 1978—probably a unique piece and only three other examples with color dials— sold at the Christie's auction in Geneva on November of 2013 for a hammer price of $684,626, we are confident that this watch will fetch some serious money. The estimate for this special piece is between $70,000 and $90,000 USD but we are confident the hammer will come down at a higher amount.
Only 586 pieces were ever produced of this fine and rare Patek Philippe ref. 3448 between 1962 and 1985, mostly in yellow gold with handful of examples in white gold and two or three in platinum. The ref. 3448 was the first automatic Perpetual Calendar with Moon Phases and the current example features the upgraded calibre 27-460 Q. Patek retired the ref. 3448 and replaced it with the ref. 3940. The watch is fitted with a snap-on solid case back and correctors for the perpetual calendar and moon phase around the case band. The watch is fitted with an original Patek Philippe black lizard strap with original Patek Philippe 18K yellow gold buckle.
Next month we'll get to see if the current price trend that was set in Geneva at the Christie's auction will continue for these rare and coveted Tiffany & Co. Pateks. As expected, on the wrist this watch couldn't look or wear any better. Ladies and Gentlemen, make sure to check the results of the auction next month or even better, let us know if you became the new owner of this beautiful watch on April 8th. Based on what we have seen in the market in the past couple of months, this watch could sell for another record-breaking amount. Everything is possible when it comes to Pateks. UPDATE: After last night's auction we are pleased to inform you that this watch fetched a hammer price of $182,500 before any buyer's fees.
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Disclaimer: Please do not use our images or content as your buying guide or condition report for this watch. Only Leslie Hindman Auctioneers can provide you with such information.