In the Patek Philippe world of time only watches with Enamel dials – we have written about two models.

The first, the 2526 is the most well known. It was the first Patek with automatic movement. Hodinkee did a nice detailed report about it here. The second model is the more seldom spoken of reference 3428 – it is also significantly less seen. Both carried automatic movements.

However there is third giant in the enamel time only world of Patek – that is seldom mentioned. It might be the rarest and most elusive Enamel dial – time only watch of them all.  

Ref 2577.

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According to Christies and Phillips watches, Ref 2577 was launched in 1956 and only made only for a very brief time period.

It was never really intended for anything more than a prototype apparently which explains its extreme rarity. If we look at the case design of the Ref 2577 it differs vastly from the 2526 and 3428 which both had typical Calatrava case designs.

Looking at the case of the Ref 2577 Patek it reminds me more of the legendary reference 3448 from Patek – especially the lugs from the profile.

See picture below.

(Picture Credit: Phillips watches).

The resemblance to the legendary 3448 perpetual calendar is definitely there – in terms of the lugs at least – just look at the profile below.

(Credit: Phillips watches).

While both the 2526 and 3428 from Patek were automatic movements, the Ref 2577 was a manual wound movement. You read that correctly. An owner of the 2577 has to wind his watch every morning.

In that sense the 2577 is perhaps the most special enamel dial time only Patek ever made. 

Also the movement is very different: The 2526 carried the legendary movement 12 600 AM (with beautiful guilloche on the rotor) and 3428 carried the improved movement 27-460, also stunning with a gold rotor. Both are legendary for their reliability and also beauty. (For more on the finest automatic movements of the 1950s and 1960s from Patek – please see our detailed post here). 

Patek 2577 carried a less well known movement which was a manual wound 10 -200. There are other notable differences from the Ref 2526 and 3428 besides the movement. While both those time only Enamel dial watches have screw back cases and are waterproof – the 2577 has a snap back case and is not water resistant.

The highlight of the 2577 must be also the porcelain Enamel dial which is a piece of art by itself. 

The Enamel dial is shared with only two other references from Patek, the 2526 and the 3438 in terms of all three of them being time only watches. What is most interesting to note is that the dials of the  two references are interchangeable – all Enamel dials are of the same size. As John Reardon – head of Christieswatches notes, ‘Interestingly the dials are identical to 2526 enamel dials and are interchangeable since the under dial plates are the same on the manual 10-200 and automatic 12-600’.

Enamel dials are especially sought after by collectors due to their rarity and complex process to make, few survive today in mint condition and usually have a hairline crack or two or are totally broken.

(Picture Credit: Phillips watches).

What is interesting to note also is the winding crown.

With the 2526 and 3428 it was the beautiful ‘qp’ winding crown that fit the case so well – it seems Patek did away with the crown in this reference. See picture below.

(Credit: Phillipswatches).

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Although it is difficult to find production numbers of the 2577 – Christies estimates that no more than 60 of these watches have ever been made.

I think the actual number is far less. At any rate this is hyper hyper rare. Compare it to the say 2526 which made an approx 600 pieces across all metals and you start to see why the 2577 is a very rare bird. If the 2577 is not rare enough – one is pink gold is extremely rare. There are only 4 known (that have come to the auction market) pink gold 2577 ever made. 

Now here comes the crazy part and the main reason for me writing this post:

Two of these pink gold watches are coming on the market to be sold at auction, both in HK. It the most bizarre of coincidences – don’t you think?

For years not one single 2577 has appeared on the market and now two of the only four known pink gold are being put up for sale at the same time in the same city? Let us start with the more exclusive one – if one can even say that given that all 2577 pink are super rare and exclusive.

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The first one, is being offered by Phillips, is a pink gold 1957 Patek Ref 2577 signed Freccero.

It last appeared for sale in 2011 selling at Christies for CHF 111’000 against an estimate of CHF 60-80’000. What is most interesting about the listing at Phillips is the following: Technically speaking the owner (assuming it is the same person who bought it in 2011) is prepared to lose money on this watch. The low and high estimate are both lower than the CHF 111’000 achieved 6 six years ago.

Lets get back to the watch which is more important than talking about prices.

Out of the four known in Pink – this watch is the only known double signed dial with a retailer signature on the watch (Freccero is a retailer from Montevideo in Uruguay). This watch is for sale at Phillips watches in HK on May 30th 2017.

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The next pink gold 1960 Patek Ref 2577 is for sale at Christies in Hong Kong.

With a case number 699′ 579 – it is only 6 case numbers earlier than the Phillips watch. Have you noticed the inconsistency? The watches are 3 years apart but only 6 case numbers? Somewhere along the line – one of the auction houses mixed up a date and I must assume that both watches are probably from 1957 or 1960 but not both.

Below the watch Christies is selling in HK. Understated elegance.

Again this watch is very similar (or identical) to the Phillips 2577 with the exception that it has no double signature on the dial. Else same size, case material (pink gold) and ofcourse the Enamel dial and same movement.

The estimate of the Christies watch is a little less than the Phillips watch – which makes perfect sense given that it has no double signed dial.

According to the condition notes of Christies, the watch is overall very good condition given its age and show only some marks to the case on the back from opening it over the years. There are some very minor and extremely small ‘marks’ to the dial at 7 oclock (presumably from a watch maker putting the dial back into the watch) but this is only visible with a loupe.

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Final thoughts on the Ref 2577 Patek

Watch collecting and observing is strange phenomenon sometimes. 

For years not one single 2577 pink gold appeared on the market (a gold one appeared in 2015 at Antiquorum and sold for a reasonable CHF 27’500). And suddenly two of the rarest time only Enamel dial Pateks appear at the same time more or less by two different auction houses for sale in the same city, Hong Kong. 

This May during the auctions, I got to try on the 2577 for the first time – and I was left impressed (see pictures below). It has a nice presence on the wrist and is handsome watch. However I must say I also love the round forms of the 2526 and 3428 as well – especially the ‘qp’ crown seduces me (which I think belongs to one of the most beautiful winding crowns ever made -see my post here). That being said all three references with Enamel dials are hyper rare and those that survive in good condition are true gems.

However for the sophisticated collector the 2577 has one big advantage:

It is the only manual wound movement found in the Enamel dial Pateks. This will please the sophisticated collector who likes the feel of winding his watch every morning (as I do).

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Below pictures of the elusive and rare 2577 that Christies will be selling in HK.

It is a sleek design, pure and simple but very elegant. 

The watch also looks good on the wrist.