A rare 1930s Patek Philippe watch, discovered gathering dust in a jewelry box, has sold for £59,000 at auction, significantly surpassing its initial valuation of £5,000. The timepiece was found during a house clearance in Camborne, Cornwall, and was sold by Hansons Auctioneers in Penzance.
The stainless steel wristwatch, a Patek Philippe & Co Calatrava Reference 448, had been stored among other jewelry for years. The owner's daughter recalled her mother mentioning an expensive watch but was unaware of its true worth. The family heirloom was originally owned by the vendor's grandfather and was passed down to his daughter, believed to have been a gift from her grandmother.
Darren Ashley, senior valuer at Hansons Cornwall, described the watch as "extremely rare" due to Patek Philippe producing very few stainless steel models during that era. He highlighted the watch's mechanical perfection, noting that it was still functioning after approximately 90 years and had remained within the same family for decades. "Combined with its wonderful provenance, it was an absolute pleasure to be entrusted with selling such an incredible timepiece," Ashley stated.
Interest in the watch was substantial, with potential buyers from America, Japan, China, Saudi Arabia, and the UK. The final sale was made to a phone bidder in Hong Kong. "The pre-sale interest was phenomenal," Ashley noted. "We had interest from serious collectors across the world, but nothing quite prepares you for watching that level of bidding unfold in the room."
Charles Hanson, owner of Hansons Auctioneers, commented on the remarkable outcome, stating, "What a wonderful result and a wonderful story. This little watch had passed quietly through generations of a Cornish family... To see bidders in America, Japan and China competing for something discovered in a Cornish family home is the magic of auction."
Hanson added that Patek Philippe represents the pinnacle of fine watchmaking, and when rarity, quality, and provenance converge, spectacular results can occur. The watch, treasured for generations in Cornwall, is now beginning a new chapter in Hong Kong.