2499 at Christie's or 79 Kilograms of platinum?

This is an article I wrote on my blog a few days ago, just thought I'd repost and share it here. This also marks my first post on the Patek forum:

Christie's auctions have been known to offer some of the rarest and most exceptional watches. This upcoming auction is no exception. While the whole horological world seems to have their eyes set on the platinum Patek Philippe 2499 owned by Eric Clapton (estimate $2,683,456 - $4,293,529), I have my eyes set on a few other very interesting pieces being offered namely the...

Actually during the middle of this post, after researching the 2499 a bit more, the LeCoultre Reverso from 1933 and the Paul Newman Daytona and the Double Red Submariner all seem to matter a lot less than the holy grail that is the 2499. How could I not geek out about this watch?

At a basic level, the 2499 is a perpetual calendar and a chronograph cased in platinum. At the current market value (1,543 USD/oz) it's worth between 106.34 and 173.91 pounds (or 48 and 79 KG) of pure platinum. A perpetual calendar, while expensive, can be had new for around 10,000 dollars from the respectable Glashutte Original, and a column wheel chronograph from Longines starts at around 3,000 dollars retail. You could even buy this watch in yellow gold for around 300,000 at auction and have a life size platinum statue of yourself made!

Oval Buddha, Platinum plated. Takashi Murakami

So why would anyone on earth buy this instead of a statue that could inspire Shelly into writing Ozymadias? To get the absolute answer you'll probably have to find the anonymous buyer and ask him about it. I think it's fair to say that this watch is so valuable because of the rarity, the beauty, the history, and the craftsmanship - Things you will find in all exemplary watches.

P.S. if a purist here does win the auction, I beg of them to answer the why part.

Hodinkee has an excellent video about this piece over at their site.

This message has been edited by Ed. W on 2012-11-06 10:48:52 This message has been edited by small-luxury-world on 2012-11-06 13:20:39

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I would rather

By: dr.kol : November 6th, 2012-11:13

wear Patek 2499 on my left wrist than to carry 79 kg of platinum! It's wonderful that so much value can be squeezed to such a small package. Best, Kari

The 79 kg will still be pretty small at 3.7 liters

By: Ed. W : November 6th, 2012-11:22

or a jug of milk in the US. It'll be interesting to see what price it reaches.

79 kg is always 79 kg

By: dr.kol : November 6th, 2012-11:41

and it does not tell you the time. Best, Kari

Interesting controversy

By: radone : November 6th, 2012-12:48

No offense intended to Mr. Clapton, I like the him but, if only I had that choice, 3499 J and the rest in cash would do for me. I am with Ed on this one. Best, Radone

Interesting observations ...

By: small-luxury-world : November 6th, 2012-13:23

and I am really looking forward to the result :-) Thanks! Oliver

It is a bit crazy I agree.

By: doubleup : November 6th, 2012-20:56

I remember the blog about that Italian banker who had a "fettish" for stainless steel Patek's. One of his was purchased for more than this I believe... Obviously it is not the metal here, I wouldnt either and agree.. But if your bank account was a few dec...

I'd donate a kidney to charity for this [nt]

By: Puffy : November 7th, 2012-01:44