Auctions: Hands-On With The Ultra-Rare Patek Philippe Ref. 2523 'Eurasia Dial' Hitting The Block At Phillips

Few things are certain in the wild world of watch auctions. One certainty is that Patek Philippe ref. 2523 and 2523-1 world timers are rare beasts and generally fetch a pretty penny. But there's rare, and then there's rare – and Philips is set to offer one of the rarest 2523s there is at this May's auction in Geneva. On the block as Lot 33 is a previously unknown cloisonné enamel, Eurasia dial ref. 2523 in yellow gold. The current estimate is $3.3 million – which is no joke. What makes this watch so rare is – like all things – the details. Patek world timers from the 1950s weren't mass produced and  generally were purchased by magnates and mega-millionaires (sorry, everyone else). There's even a dispute as to how many total 2523s were ever made, but it's safe to say that number is less than 25. But that's looking at a birds-view of all 2523 and 2523-1 pieces. When it comes to this particular watch up for auction, that number shrinks considerably. Only three yellow gold 2523 world timers with a cloisonné dial featuring a map of Eurasia are known to have ever been made. One of those is in the Patek museum, the other is currently in a private collection, and the third – well – you're looking at it. The last time such a watch came up at auction was back in 2002 when it sold at Antiquorum for just over CHF 1.7 million. That watch had case no. 306201. This particular piece bears case no. 306193, which, as mentioned, was previously unknown – other than by the private collector who owned it, of course. According to Phillips, this is the earliest made 2523 Eurasia dial variant, with a production date of 1953 (and a sales record of December 7, 1954). We've covered various iterations of the 2523 and 2523-1 in the past, in a variety of dial variations, from double-stamped blue enamel to guilloché to Tiffany stamped . Most of the cloisonné dials feature either North or South America, if they're depicting a geography at all. When any one of these watches comes up for auction, it's an event worth paying attention to and you can almost always count on the watch fetching a serious seven-figure price. Even with all of that in mind, the Eurasia dial variants take us into a totally different level of ultra-rare territory. Mid-century Patek Philippe world timers are known to exist in yellow, white, and rose gold cases, but all three Eurasia models (now) known to exist are all yellow gold and all appear with as reference 2523 models. If you struggle to tell 2523 and 2523-1 watches apart from one another, the lugs are an easy-to-spot tell. You'll see on this watch that the lugs overlap the case in a dramatic fashion, while the 2523-1 lugs appear more flush to the case. This style of Patek Philippe world timer dates back 1953 (hence why this watch's production year makes it so valuable). It's recognizable traits are its 36mm case, dual crowns, 41-city ring, and its variety of dial configurations – in this case, cloisonné enamel with that distinctive Eurasia motif. The watch is the product of a partnership between Patek and Louis Cottier, who produced world time complications for the brand as early as 1931. In the early 1950s, he developed the dual-crown world time system – the 18 jewel, manual-wind caliber 12-400HU – seen in this very watch. According to Philipps, the legend goes that Cottier performed the final assembly of these watches (at his own insistence) and hand-made the distinctive hands himself. For this piece, the enamel disc itself is signed "LC" by Cottier. Aesthetically, this watch is a marvel, not least of all because its time-telling capability allows for easy distinction of all the timezones simultaneously. The dial design is complex for sure, but it's laid out in such a manner that it really is both beautiful and functional. You have all the cities arrayed on the outer portion of the dial, a bi-color 24 hour readout, and then the polychrome cloisonné enamel center in marine blue, gold, green, and turquoise. The dial features a mix of Roman numeral and stick markers in yellow gold too. For this sale, the watch will come with three custom Patek straps in brown (pictured), yellow, and pistachio. It goes without saying – despite my already having said it – that this watch is a pretty big deal. Like any marquee lot in recent years, it would come as no surprise to see this blow past its $3.3 million estimate. Rare (especially rare Patek) sells, and this is about as rare as it gets. The Phillips Geneva Watch Auction: XIII is set to take place May 8-9. For more, visit Phillips online. Photos: Kasia MiltonThis previously unknown cloisonné enamel world timer is estimated to sell for $3.3 million at the Geneva Auction in May.