Collecting is bizarre at times.
Sometimes you realise a watch is truly a holy grail or PAK (Past Auction Killer) watch only after some time has passed even if you were aware of the watch before.
Such was the case with this exceptional 1938 Patek 530 with black dial.
I remember it vividly when I saw it at auction back in 2014; for the Christies special themed Patek 175 anniversary sale. I thought it was a nice watch but was not fully aware of its significance and beauty back then.
This probably had to do with two things: 1) my knowledge in regards to Patek has for sure improved today (versus 2014). 2) I think my taste has also evolved. Before we look at what makes this 530 time only watch such an Icon, let us look at the history of the Ref 530 – which is more often associated with a chronograph.
(Credit: Christies).
Background to the 530
Most collectors think of a chronograph, when they think of the 530. To be honest so did I – and at first I even thought Christies had applied a wrong reference for this watch.
The 530 Patek chronograph is the legendary bigger brother of the 130 chrono, and it remains one of the most sought after chronographs ever made by Patek. What many collectors don’t realise is that the 530 reference exists in a time only watch as well -such as the watch above. Both the 530 and 130 references of Patek are Calatrava models and derive their origins from the Ref 96, the first Patek Calatrava ever made. The 530 was made between 1937 and 1944 and is among the most beautiful and rare pre-war wristwatches to leave the house of Patek Philippe.
The 530 Chronograph from Patek is legendary for its large size of 36.5mm – which was a very large case size back in the 1940s. It remains among the most collectible chronographs ever made by any brand.
But Patek also made a few time only 530 models (besides the chronographs) and they remain fiercely fought after at auction due to their rarity and attractive large size. Just look at this steel Patek with black dial 530 that achieved a world record price for any time only watch last year at Phillips – when it fetched a CHF 1.4m. If you think only black dial steel 530s with Breguet numerals fetch strong results – think again. Even back in 2015 when Phillips sold a 530 steel with silvered two tone dial and Breguet numerals – it fetched a strong CHF 677’000 against an estimate of CHF 200- 400’000.
A 530 versus a 570
The point I am trying to make is that 530 Patek time only watches have long been considered trophy assets, and the 530 cannot and must not be confused with the 570 Patek.
It is true, the 570 might be more well known in the Patek universe of calatrava’s but it is also much more common. The 530 differs in several ways to the 570: 1) The bezel is concave with the 530 – versus cylindrical with the 570 and secondly 2) the 530 with 36.5mm is 1.5mm larger than the 570 at 35mm (according to Phillips watches). 3) the case of a 570 is more similar to a ref 96 than a 530 is to a ref 96 in my opinion. Mind you, the 570 in rare configuration is no slouch either: a nice three tone dial one fetched CHF 281’000 in 2015.
Let us take a look at this 530 time only watch – and why it is a PAK watch.
First let us simply state the obvious: This watch is just stunning with the gold case and black lacquer dial with Breguet numerals. Collectors have long appreciated this beautiful contrast, black dials with gold. They look stunning – regardless of brand, just look at this Rolex here as an example.
What makes this watch further interesting is of course the rarity: 530 time only watches are rare – but those with Breguet numerals even more so. This watch is especially appealing because of its glossy dial that contrast nicely with the applied gold case and the gold numerals on the dial. All this of course is confirmed by the extract of archives, and so we can be sure that this watch was indeed born with this dial – a very important factor.
According to Christies and the extract of archive – this watch has a possibly unique dial and there is no other 530 seen with this combination of black dial and gold. The case is furthermore attractive as it has turned slightly copper because of the oxidation of the case. If you look at the case more closely you will also notice the stepped nature of the case.
This 530 is powered by Cal 12 -20 a mechanical movement made and signed by Patek.
Closing remarks
This is my second Patek that I have chosen (the first being this dream Patek reverso) as a PAK watch.
Now, it is true, Patek is known for complications first and foremost. It might seem odd that I have chosen two time only watches from Patek with zero complications as featured PAK watches. But there is something so simple about a time only watch and pure – that it in certain ways becomes more aesthetically pleasing than a complication like a 2499 or 1518 with many moving parts on the dial.
Essentially you have one of the greatest pure designs with the Ref 530 time only watch. Cased and sold in a very rare attractive combination of yellow gold case (that seems almost pink gold in color) and black glossy dial; for me this 530 passes all the tests of being a PAK watch:
- It important in size, reference and color combination and extremely rare
- This 530 color combination is confirmed by the archives and possibly a unique combination for this reference
- The watch is extremely rare being a 530 time only reference with Breguet numerals als confirmed by archives
- It carries the attractive long signature (Patek Phillipe & Co) being a pre -war Patek that was made in exceedingly small quantities
The market correctly applied a strong premium to this watch and it fetched a strong result of CHF 389’000 easily surpassing the estimate range of CHF 150’000 – 250’000. The collector who had the vision to buy this has a trophy watch in his collection, one of the finest pre -war time only watches ever to leave the house of Patek.
Even at elite Patek gatherings where 1518, 2499 and 2438 will be present – this collector with his 530 time only Patek will stand high above the crowd in my opinion.
For more information on this PAK watch that sold at Christies in 2014 please see details here.
