The Henry Graves Supercomplication double dialled watch by Patek Philippe © Sotheby's, New York, December 1999 sold for US$11,000,000
A few days ago Sotheby’s in New York announced the single owner sale of the collection of the late Reginald H Fullerton Jr. The name will not be familiar to most but when you mention the fact that his grandfather was Henry Graves Jr, the watch world is agog with anticipation; the last time Sotheby’s sold a watch belonging to Henry Graves, it sold for US$11,000,000, still the world record for a watch. This time, the collection to be offered comprises more than 50 pieces including 13 pieces that Henry Graves collected and that have never been published or appeared on the market before. This is like opening an old trunk and finding 13 Van Goghs that have never seen the light of day – and not just any old Van Goghs, we’re talking Sunflowers, Irises and Dr Gachets.
Henry Graves Jr. © Sotheby's New York, December 1999, Masterpieces from the Time Museum Catalogue
Henry Graves (1868-1953) was born into a banking family and went on to join his father in the finance industry. His interest in horology sparked a rivalry with a contemporary of his, James Packard of Warren, Ohio. The two vied with one another to commission and own the finest Patek Philippe watches. In 1916 and again in 1927, Packard ordered two highly complex and innovative watches from Patek Philippe. Although theirs was a friendly rivalry, clearly Henry Graves wanted to be ahead in this ‘contest’ and so he went in secret to Patek Philippe and requested that they make him the most complicated watch ever seen. Delivered on 19th January 1933, the watch cost Henry Graves: CHF 60,000, weighed 1 lb 3 oz, consisted of over 900 parts and remained the most complicated watch in the world for 60 years. The watch became known as the Henry Graves Supercomplication and it was that piece which later sold at Sotheby’s New York for US$11,000,000.
© Sotheby's New York
The highlight of the forthcoming Sotheby’s single owner sale is the elegantly understated tonneau shaped wristwatch with minute repetition by Patek Philippe. The back is engraved with the Graves Family Arms and their motto “Esse quam videri” – “To be, rather than to seem”. Minute repeating wristwatches are incredibly complex, despite their often seemingly plain exteriors. These watches will, on demand, chime the time out to the nearest minute. This particular watch is unique being the only example of this model made in yellow gold (there is a twin to this watch made in a platinum case and on display in the Patek Philippe museum in Geneva). When you add this rarity together with the provenance of Henry Graves, estimates become meaningless. The Henry Graves Supercomplication was estimated at an eye watering $3-4 million in 1999 before selling for its $11 million. The tonneau shaped repeater being offered in this collection at Sotheby’s has a cool $600,000-$800,000. But today when million dollar watches are not as rare to see as they were in 1999, it’s anyone’s guess where this one could go.
The auction: “Watches from the Collection of the Late Reginald H. Fullerton, Jr. and his Grandfather Henry Graves Jr.” will be held at Sotheby’s, New York on 14th June 2012. You can read the Sotheby’s press release for the sale clicking here.