Auctions: Patek Philippe To Auction Off Unique 5131J World Timer With View Of Geneva For Charity

June 10, 2012

Imagine spending hundreds of thousands of dollars on one of the rarest wristwatches ever made and knowing that every penny will go to a charity that helps kids most in need. Heres your chance to lend a helping hand and get a nice watch in the process C but you better have deep pockets to make this happen. There is only one watch and lots of competition to own it. Heres the inside story.On June 11th, Children Action Geneva will auction a one-of-a-kind timepiece made by venerable Swiss watchmaker Patek Philippe. Children Action is dedicated to providing medical aid and psychological care to children in need around the world. In Geneva, recent Children Action work includes teenage suicide prevention initiatives and pediatric surgery for children injured as a result of violence in the Balkans.The Patek Philippe Ref. 5131 created for this auction has a special enamel dial featuring a scene of Geneva and tells the time in 24 different time zones around the world. The regular production Ref. 5131s are coveted themselves and bring extraordinary prices at auction. Retailing for approximately $70,000 (if you are lucky enough to get one from an authorized Patek retailer), the watches are instantly worth more on the secondary market to passionate collectors and investors. Recently, examples of this reference have brought strong prices at auction including white gold version which brought over $150,000. The yellow gold production examples exclusively feature a cloisonn map of North America while the white gold examples feature a map of Asia.The unique example made for the Children Action charity is the only model ever made (and ever will be made) featuring a local cityscape of Geneva. The hand-crafted cloisonn enamel befitted with brilliant jewel-like colors featuring a picturesque ariel view of the city complete with the characteristic jet-deau, a familiar scene to those who have made the all-too necessary pilgrimage to venerable watchmaker Patek Philippe. Adding to its uniqueness, the marker for the city of Paris normally seen on the regular production version has been replaced. The city of light has been replaced by the horological capital Geneva which appears on the dial in bold, blue print.Due to the rarity of the timepiece and special beauty of the Geneva cloisonn city scene, insiders predict this unusual Ref. 5131 could fetch a number approaching $1 million.In addition to the fact that the proceeds will go to charity, three important reasons make this world time Geneva-themed example especially tantalizing trophy for collectors today: First, Geneva is unquestionably the epicenter of the watchmaking world. Among the varied talents to which the city has given birth is avant-garde watchmaker Louis Cottier (1894-1966), who first devised the mechanism integral to the Ref. 5131 allowing all time zones to be displayed on a single dial C the world time. Many watchmaking companies benefitted from Cottiers early innovations, among them: Patek Philippe, Vacheron Constantin and Longines, and other companies have followed in their footsteps.Second, the world time is a window into history and a precursor to todays globalized world. An historic international agreement fixed Greenwich as the prime meridian in 1884 yet took several decades to adopt worldwide. The world time is an important feature in that it can show all 24 time zones, particularly relevant to todays world where globalization has changed the game. This particular timepiece makes a strong statement about what life is today and the wearers role in it.Lastly, Geneva has played an essential role in the development of the modern art of enameling - merging art, craftsmanship and technical brilliance. Although the craft of enameling has ancient roots, it has fallen in and out of fashion through the centuries only to be revived by contemporary watchmaking manufactures in the mid-20th century who primarily incorporate cloisonn on dials of wristwatches and small clocks (a rare and exceedingly beautiful example will be sold at Sothebys June 16th sale).Other unique Patek Philippe wristwatches created for recent charity events include: a platinum Ref. 5970P chronograph and perpetual calendar for a 2009 charity event for the benefit of Tung Wah Hospitals Hong Kong and hosted by Sothebys; and a unique steel Ref. 3939, a manually-wound minute repeating tourbillion with black enamel dial with applied white gold Breguet numerals for Prince Albert II of Monacos Only Watch which fetched $1,737,820 (1,400,000), well above its estimate.For watch collectors and enthusiasts alike, June 11th is an opportunity to own your own slice of Genevas watchmaking history and make a difference.If you have the means, this unusual and beautiful Ref. 5131 is clearly the watch you need to mark your arrival as a serious and seasoned collector. Not only is it a superlative and luxurious timepiece, but its also for a great cause.?More details may be found on the Patek Philippe website.