Many collectors with large pockets and ego (s) will be focused on the top lots at the upcoming auctions next week.

But auction houses offer many great watches that often slip under the radar screen for often less than CHF 10’000. Therefore instead of writing about the top lots, like I usually do – I believe I offer even more value by doing the following: I have combed through 1200 lots of Christies, Antiquorum and Sothebys and choose 5 watches that appeal to me.

Each of these 5 watches below I would not mind owning myself (indeed I may bid on them – just be warned) and they might otherwise have fallen under the radar screen of many collectors. Here are five watches for CHF 10k or less (some as low as CHF 2’000) and two watches that are more expensive but offer potentially great value.

It is a new collector series called ‘5 under 10’.  Five watches for under 10k. I will do this for every auction season.

I hope that this new series offers a different perspective and is of some value to my readers.

---

1: A rare 1930 Rolex Bubbleback ref 2940 with California dial

I increasingly find these early Bubbleback Rolex watches attractive and quite frankly undervalued.

Now I do know that California dials are sought after (and sadly faked) but this watch comes from the original owners’ family which helps. Secondly, I like the famed Geneva retailer ‘Beguin’ on the dial. The Geiger reacts strongly to the radium lume (according to the ‘lot notes’ of Antiquorum). Now I am not an expert on California dials but according to a friend who collected them already back in the 1980s and 1990s – the watch looks to be original. 

For those are are seriously interested in this lot – my friend gave me a helpful checklist for this watch:

• Luminous numbers should be recessed into the dial.
• The back of the dial should be embossed Singer.
• Numbers on the back should be be apparent where they were punched into the dial from the front.
• The back of the dial should have a star punched into it.

I love black lacquer dials, and this watch with an estimate of CHF 2-4’000 strikes me as absurdly low. It can only be explained by the small size of the watch (32mm) and that Bubblebacks are not in strong demand as they used to be.

I will be looking at this closely.

---

2: A circa 1955 Patek 2525 with black dial

I love gold watches with black dials. They are elegant and sporty and more often than not, extremely rare.

Such is the case with this 2525 from Patek. Most of these dials are in silver and only very rarely in black. When one in black appears – well then collectors pay attention. The last one sold for almost CHF 36’000 (that was estimated at CHF 6-10’000) but this watch had a retailers signature on the dial too. That watch also appeared to be in better condition than the one being offered below.

I think someone at Antiquorum should also do a better job checking their facts: In their lot notes Antiquorum says this watch was never offered at auction before. Not true. This watch below was offered before at Christies back in 2010 where is sold for CHF 5’200.  

It will also be interesting to see if this black dial is mentioned in the extract of archives or not.

Nonetheless I will be paying attention to this watch closely (and inspecting it too). Estimate of CHF 6-10’000 seems rather low for this reference with black dial.

---

3: A 1938 Patek Ref 96

The Ur Calatrava – Ref 96 is often ignored by collectors due to their small size at 31mm. 

But these are fine watches, with a beautiful movement 12-120 and I especially like the ones with a long signature which this one has (and is correct for the time period). Things to look for are: cleaned dials and also examine the condition of the signature. 

I will also be looking at this watch closely. Estimate of CHF 7-9’000 is what I have seen with other Ref 96 with this type of dial.

---

4: A circa 1940s Rolex 3055 Chronograph

These early Rolex chronographs are called ‘piccolino’ which means ‘small one’ in Italian.

Yes, the case is small at 30mm, but this model is very rare. Divided into two series, the first had olive pushers and large sub-dials* (they are the most sought after) and the second series (which this watch belongs to) has normal sub-dials.  When it initially came out by Rolex it was known as the world’s smallest chronograph.

Something different to look at and for the right price and if the watch is in the right condition – worth considering. Estimate is CHF 10-15’000.

*(Credit:watchlover it).

---

5: A 1963 Patek 1578 so called Spyder lugs

The Patek with Spyder lugs is more famous perhaps in chronograph form, ref 1579, than with the time only, ref 1578. 

But these time only watches should not be overlooked. Simple but extremely elegant, this time only watch offered by Sotheby’s has everything a collector could want. Let me list it:

• Unpolished and like NOS case
• Perfect untouched dial with in-tact raised signature
• One of Patek greatest movements inside 27-400 AM
• Nice wearable size of 35mm.

What I like best about the time only with spider lugs is the movement you get inside – the 27-400AM. It is one of the most beautiful manual wound movements ever made by Patek – with Gyromax balance wheel and beautiful movement layout.

With an estimate of only CHF 10-15’000 – you get a lot of watch for your money: A great design with fantastic movement in a generous size – this time only watch from Patek is what vintage watch collecting is all about. Think about what CHF 10k buys you in the Rolex world – not very much.

According to Sothebys this is the benchmark of all 1578 in terms of condition and I will be looking at this watch closely too.

---

While the watches above represent 5 under 10, I thought I would include two other watches.

Both represent the pinnacle of Patek collecting and are relatively inexpensive to what these watches offer. Yes, they are slightly more than CHF 10K, but these watches below offer tremendous value in my view. One is just downright awesome (ref 96 sector dial) and the other might be an opportunity due to the service dial (130 pink gold).

A 1939 Patek Ref 96 with sector dial

This watch has so many great attributes I don’t know even where to begin.

Let us start with the rarely seen sector dial with numbers in black enamel. Since the dial is from the late 1930s the long signature is present. The dial is further attractive as it has changed color and depending on light is either champagne or silver. The dial is furthermore ‘two-tone’ in nature with the outer scale having a different color than the inner dial. Without a doubt one of the most attractive dials seen in a ref 96. Alone for the dial many collectors will be drawn to this watch and fighting for it.

What is most incredible is the case, after all this is an 80 year old watch. The case looks super strong with sharp edges and full proportions. I don’t think this case has ever been touched. If this watch would be larger, like 35, 36mm we would be looking at a watch worth half a million USD, CHF easily. But the small 96 with its 31mm size is not for everyone. 

This is a trophy watch for the connoisseur that should be worth more than double the estimate. So even though I don’t expect this watch to go for a bargain – I think relatively speaking this watch should be priced completely differently.

Anything within the estimate of CHF 20-40’000 is a down right bargain in my view.

I expect it to go much much higher.

 

A 1941 Patek ref 130 in pink gold with later dial

The 130 of Patek is also one of these watches which you can get for extremely attractive prices. In steel, gold and also in less seen pink gold. 

This also has to do with the relatively small size of 33mm. This watch below carries one of the most attractive dial and case combinations in my view. Pink gold with black dial. Both on their own are very rare and both together are almost never ever seen.

Now here comes the catch: The dial was not born with the watch (fully disclosed by Sothebys) as the case is from 1941 and the dial with short signature of course is later (end 194os maybe early 1950s).

The fact that the dial was changed at some stage will spook away 90% of serious Patek collectors. Which gives the other 10% a chance to own something extremely rare and attractive. The fact that the dial is correct but just not period correct is something every collector has to figure out for himself what that means to him. I would be very curious what the extract of archives says about this watch.

At the low end of the estimate it might be worth a shot. I would not pay more than the low estimate or even say attempt a bid at 5-10k below the low estimate as for CHF 75k you can get a fine 130 with Breguet numerals that was born with that dial. Even better if the watch does go unsold you can always make a bid after the auction ends and see if the seller accepts.

An original black dial for any 130 Patek (regardless of long or short signature) is something rare and special. So is a pink gold 130 case.