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Lot Essay
In terms of rarity, beauty, and desirability, the present reference 2526 is a world-class watch at the very highest level. To date, only three examples of a first series reference 2526 with black enamel dial and luminous indexes are known. The present black enamel dial 2526 with luminous indexes, as confirmed by the Extract from the Archives, is then furthermore rarified as it is the only known example with Patek Philippe's prestigious retailer Serpico Y Laino in Caracas, Venezuela, making it an extremely exciting opportunity for the astute collector to own a world-class watch.
The Dial
Most importantly, the black enamel dial is confirmed by the Extract from the Archives, as are the luminous gold indexes. A confirmed black dial from the early period of the 2526 is exceptional. This confirmation makes the present watch very exciting indeed. Its significance becomes even greater by the presence of the signature of Serpico y Laino, Caracas and the realization that the dial is true fired hard enamel with full counter enamel (as opposed to soft lacquered) and of “First Series” construction. The first 2526 enamel dials are quite distinct from later production, the gold hour markers are actually set into the dial via holes and secured using pins. All later dials have the markers glued to the solid enamel surface. Luminous markers such as those seen on the present watch are extremely rare on any reference 2526. The dial has perhaps only ever been lightly cleaned since new, the luminous material replaced many years ago and now naturally aged over time as are the luminous Dauphine hands.
The Case
Overall preserved in very good condition with full, even proportions, the caseback displays the stamps “S. & L.” and “18K” confirming the originality of the Serpico y Laino signature on the dial. The cases of the reference 2526 were made by the Geneva master casemaker F. Baumgartner whose punch mark of number 2 in a key is found inside the caseback. Two defined hallmarks are visible on the back of the upper left lug and between the lower lugs. The most distinguishing features of the 2526 case is the domed screw back for water-resistance and the beautiful casted gold crown with opposing the “PP” design, an iconic feature of first series automatic watches from Patek Philippe. Often, these superb crowns were worn out and damaged, then changed during a service to a standard, round 'Calatrava' cross crown.
The Movement
The reference 2526 was the inaugural model to be given the privilege to house the firm's first automatic caliber, the now famous 12-600 AT. This state-of-the-art caliber with the main spring wound through the oscillating movements of a massive 18K gold hand-engine-turned rotor is seen by many as the most lavishly finished automatic movement ever conceived by any manufacturer, even to this day. The caliber 12-600 AT was granted Swiss patent No. 289758 in 1953 for "a self-winding mechanism for a wristwatch movement using the energy supplied by a rotary mass causing an eccentric part to transmit a swinging movement to an organ of the mechanism".
Ref. 2526 is illustrated in: Patek Philippe Wristwatches, Huber & Banbery, 1998 edition, pp. 216-217, and calibre 12 600 AT detailed views p. 214.
Reference 2526 is also illustrated in: Patek Philippe Museum - Patek Philippe - Volume II, pp. 244-246.
The present watch will be prominently illustrated in: Blue Book 2, study by Eric Tortella, 2019 edition, pp.132-144.
Reference 2526
Reference 2526 is amongst the most elegant and distinguished vintage watches ever made. The model takes a historically relevant role in the establishment of Patek Philippe's fame to be the premier manufacturer of the world's finest wristwatches.
Introduced into the market in 1952, it was Patek Philippe's first ever automatic watch starting with movement number 760'000.
Reference 2526 can be divided in three distinct series:
First series: domed caseback, enamel dial and riveted indexes. The dial presents flared holes under each index in order to allow for their setting.
Second series: Domed or flat caseback, enamel dials with the numerals glued to the surface. The dial presents only two flared holes for the hands.
Third series: Flat caseback, same dial as on second series and in later examples metal dial.
Fourth series: Same as third series, but with new caliber 27-460.
Serpico y Laino
Serpico y Laino was founded in the late 1920s by two Italian immigrants, Leopoldo Serpico and Vicente Laino, a young goldsmith. Initially focusing on jewellery, they soon expanded into watches and became the exclusive distribution agent for Rolex in Venezuela following a meeting with Hans Wilsdorf in Geneva in the early 1930s. Shortly after other brands were added and the firm was appointed the sole authorized retailer for another famous watch manufacturer: Patek Philippe. In 1966, after forty years of flourishing business, the leading watch retailer in Caracas.
The Dial
Most importantly, the black enamel dial is confirmed by the Extract from the Archives, as are the luminous gold indexes. A confirmed black dial from the early period of the 2526 is exceptional. This confirmation makes the present watch very exciting indeed. Its significance becomes even greater by the presence of the signature of Serpico y Laino, Caracas and the realization that the dial is true fired hard enamel with full counter enamel (as opposed to soft lacquered) and of “First Series” construction. The first 2526 enamel dials are quite distinct from later production, the gold hour markers are actually set into the dial via holes and secured using pins. All later dials have the markers glued to the solid enamel surface. Luminous markers such as those seen on the present watch are extremely rare on any reference 2526. The dial has perhaps only ever been lightly cleaned since new, the luminous material replaced many years ago and now naturally aged over time as are the luminous Dauphine hands.
The Case
Overall preserved in very good condition with full, even proportions, the caseback displays the stamps “S. & L.” and “18K” confirming the originality of the Serpico y Laino signature on the dial. The cases of the reference 2526 were made by the Geneva master casemaker F. Baumgartner whose punch mark of number 2 in a key is found inside the caseback. Two defined hallmarks are visible on the back of the upper left lug and between the lower lugs. The most distinguishing features of the 2526 case is the domed screw back for water-resistance and the beautiful casted gold crown with opposing the “PP” design, an iconic feature of first series automatic watches from Patek Philippe. Often, these superb crowns were worn out and damaged, then changed during a service to a standard, round 'Calatrava' cross crown.
The Movement
The reference 2526 was the inaugural model to be given the privilege to house the firm's first automatic caliber, the now famous 12-600 AT. This state-of-the-art caliber with the main spring wound through the oscillating movements of a massive 18K gold hand-engine-turned rotor is seen by many as the most lavishly finished automatic movement ever conceived by any manufacturer, even to this day. The caliber 12-600 AT was granted Swiss patent No. 289758 in 1953 for "a self-winding mechanism for a wristwatch movement using the energy supplied by a rotary mass causing an eccentric part to transmit a swinging movement to an organ of the mechanism".
Ref. 2526 is illustrated in: Patek Philippe Wristwatches, Huber & Banbery, 1998 edition, pp. 216-217, and calibre 12 600 AT detailed views p. 214.
Reference 2526 is also illustrated in: Patek Philippe Museum - Patek Philippe - Volume II, pp. 244-246.
The present watch will be prominently illustrated in: Blue Book 2, study by Eric Tortella, 2019 edition, pp.132-144.
Reference 2526
Reference 2526 is amongst the most elegant and distinguished vintage watches ever made. The model takes a historically relevant role in the establishment of Patek Philippe's fame to be the premier manufacturer of the world's finest wristwatches.
Introduced into the market in 1952, it was Patek Philippe's first ever automatic watch starting with movement number 760'000.
Reference 2526 can be divided in three distinct series:
First series: domed caseback, enamel dial and riveted indexes. The dial presents flared holes under each index in order to allow for their setting.
Second series: Domed or flat caseback, enamel dials with the numerals glued to the surface. The dial presents only two flared holes for the hands.
Third series: Flat caseback, same dial as on second series and in later examples metal dial.
Fourth series: Same as third series, but with new caliber 27-460.
Serpico y Laino
Serpico y Laino was founded in the late 1920s by two Italian immigrants, Leopoldo Serpico and Vicente Laino, a young goldsmith. Initially focusing on jewellery, they soon expanded into watches and became the exclusive distribution agent for Rolex in Venezuela following a meeting with Hans Wilsdorf in Geneva in the early 1930s. Shortly after other brands were added and the firm was appointed the sole authorized retailer for another famous watch manufacturer: Patek Philippe. In 1966, after forty years of flourishing business, the leading watch retailer in Caracas.