Why Andy Warhol’s Patek Philippe ref. 2526 up for sale at Sotheby’s is the one to buy

Zach Blass

Trends come and go, and the hype around particular watches, or watch segments, shift over time. These days, for example, integrated designs are all the rage – particularly in steel. And certain bold colour expressions begin to inundate the market, becoming certified colours of the year. But, while many lust over various in-trend watches of the moment, the real heroes are designs that are timeless and enduring. Designs that will never go out of fashion. A select few have earned such a mantle, and one such reference I would situate in this timeless category without hesitation is the Patek Philippe ref. 2526. Presently, we eagerly track who is producing the thinnest watch, or the watch that hosts the most complications. Where the 2526 excels, however, is in its simplicity and purity – a clean and crisp three-hander with seemingly effortless elegance. If you are not familiar with the reference, now is definitely the time to get acclimated with it as a special example of the Patek Philippe ref. 2526 originally owned by Andy Warhol is set to be auctioned off next week on March 7 during Sotheby’s “Fine Watches” auction.

The provenance

This is actually not the first time Sotheby’s has sold this watch. Pictured above, you can see Warhol’s pink gold 2526 resting on top of the original catalogue image from its sale in 1988. The Sotheby’s lot essay explains: “It was initially sold in the Andy Warhol Collection, Part II on December 4, 1988 when additional properties from the Estate were discovered after Sotheby’s had already sold his extension collection from Americana to Contemporary paintings in a 10-day extravaganza that took over the entire York Avenue galleries in April 1988. A compartment in the bottom drawer of his cabinet was uncovered and filled with unmounted gemstones, designer jewelry and watches while dismantling filing cabinets from his townhouse.”

The consigner of the lot at present is the individual who won and purchased the watch in 1988, and based on the side by side shot it appears the watch is in the same near-pristine condition as it was decades ago. Interstingly, this is one of two 2526 watches Warhol was known to own, the other a yellow gold 2526 with Breguet numerals on the dial.

Why collectors love the Patek Philippe ref. 2526

As you probably already know well, watch collectors love a first. A watch that marks a milestone for a manufacture. The 2526 is a historically important wristwatch for Patek Philippe due to the fact that, upon its introduction 1953, it was the first watch from the holy trinity manufacture to utilise an automatic movement: Patek Philippe’s celebrated calibre 12”’600 AT. The love for this reference, however, runs beyond the technical geekery of calibre milestones.

On the surface, what really draws peoples interest towards the Patek Philippe ref. 2526, whether a watch idiot savant (WIS) or total newbie, is its eggshell-coloured enamel dial (other colour and material configurations do exist as well though). Its inimitable look not only offers an ivory-like aesthetic, but also an aesthetic frozen in time due to the material’s ability to avoid oxidation or moisture damage. Patek Philippe deliberately choose to use enamel for the dial in an effort to present something that would never tarnish or age. That being said, enamel dials are susceptible to cracking. But, having held the lot personally in hand, interested bidders will be glad to know the dial is in perfect condition – no cracks or blemishes by my observation.

In a way, the 2526 is Patek’s Explorer 1016. What do I mean by this? Well, the Patek Philippe 2526 is very much an if you know, you know flex on the wrist. It also, like the Explorer 1016, has a pure simple and clean aesthetic – no bells and whistles, just timeless design.

Andy Warhol’s Patek Philippe ref. 2526 in pink gold

While the provenance itself is certainly a source of intrigue, another element that makes this particular 2526 special is its double-stamped dial. Nestled within the running small seconds at 6′ you will find the ‘Serpico Y Laino Caracas’ stamp that designates the fact the watch was sold through the venerated Venezuelan retailer. It also denotes the fact the watch is inherently rarer, as double-stamped watches are less common to find than standard single-stamped dials.

It is also worth noting that this example has what is known as a “first series” dial. The tell that it is in fact a first series dial is the dimples that can be found around the rose-gold hour indices. While later dials had the indices glued to the dial, the first series dial has hour indices that are set into the dial with pinions. This manufacturing process was quickly deemed too painstaking and problematic to maintain, understandable considering it required holes be drilled into the enamel dial. So, first series 2526 watches not only have the honour of hosting dials considered by Patek Philippe too difficult to manufacture consistently, but also the honour of being far rarer to find. I personally love the purity at play here, and the warmth of the rose gold against the eggshell-coloured dial. The dauphine hands are perfect in their finish and construction, and the old-school font type of the printed Patek Philippe branding at 12′ has a Mad Men-era charm to its appearance.

Warhol’s Patek Phillipe ref 2526, like its dial, has a case that appears to be in rather immaculate condition. The only noticeable blemishes can be found on the backside of the case, in particular minor denting and scratching behind one of the lugs. The case lines and hallmarks, however, appear to be strong and well-defined, which signals the watch has had very little to no polishing/refinishing to its case. Clocking in at 36mm in diameter, the classic size of this 2526, dated to circa 1955, carries my Goldilocks proportions. And, with the banana-shaped curvature of the lugs it wears and hugs wrists of all sizes really well. The double P signed crown is also a neat quirk as well.

As a reference, standard 2526 (without a double signature) watches I have seen for sale outside of auctions hover around an asking price of US$50,000. So, the fact that this even rarer example, with its Warhol provenance in addition, is currently sitting with a US$32,000 bid (at the time of writing) is quite baffling. Of course, the auction does not end till March 7, and its estimate is listed as US$40,000 – US$80,000. But, were someone to win this watch within the estimate, I would go so far as to say the winner purchased the watch for an absolute steal.

How to bid

The Sotheby’s “Fine Watches” auction will be held March 7 12:00PM ET, but bids can be placed on their lots, including Andy Warhol’s Patek Philippe ref. 2526, through their online platform now.

All images are courtesy of Sotheby’s.