Monaco Legend Group's "Exclusive Timepieces" Lots & Results

Estimate: €10,000 –⁠ 20,000
Actual: €20,800

Will this watch be the most expensive or the cornerstone lot of the auction? No – but this is one of my favorite watches of the auction. This rare Gübelin Shutter Watch, reference 2466, is a snapshot of wild 1920s creativity very similar to some of the designs we are now recognizing as icons from brands like Cartier that perfectly embody a specific period in time. Born from Verger Frères’ patented design, it blends technical genius and Art Deco swagger. Verger Frères was a Parisian powerhouse back then, cranking out innovations like the famous “mystery clocks” and this clever shutter mechanism, which they later sold to Kreissler in 1929 when brands like Vacheron took it and ran with it. This particular piece, with its gold shutters that slide open to reveal a simple yet sophisticated dial which is paired with a small yet stunning set of blued hands, is like peeling back the curtain on a bit of history and magic. The yellow gold case paired with its Roman numeral adorned white-gold bezel it’s all class that seemingly slips under the radar, with a touch of that rebellious spirit from a century ago.

Estimate: €30,000 –⁠ 60,000
Actual: €169,000

Jump-hour watches made their mark in the late 1920s and early ‘30s, when minimalism and elegance were the order of the day and this specific watch may be one of the rarest of them all. Brands like Audemars Piguet and Vacheron Constantin led the charge, so much so that even Cartier got in on the action, retailing these masterpieces with their own creative spin. This Audemars Piguet, personalized for Cartier, is a stunning example of that partnership. It’s got a white gold case, curved mobile lugs, and a design that screams Art Deco cool with a dash of modern flair. Sold by Audemars Piguet to Metric Watch in 1928, this isn’t just another watch—it’s a rare, double-signed gem, with Cartier’s name on the dial and white gold Breguet numerals to set it off. The 14kt white gold mesh bracelet, engraved “C+B” and crafted by Corbett & Bertolone, top suppliers for Tiffany and Cartier, adds that final touch of exclusivity.

Estimate: €120,000 –⁠ 240,000
Actual: €162,500

If you’re a fan of C+T, you know we love watches that have developed a patina and exude a certain vibe and charm. The Rolex reference 8171, or “Padellone” as Italian collectors affectionately call it, has captivated serious collectors for decades. One reason is that Rolex only made two models with a moon phase complication—the 6062 and this one. The key difference? The 8171 has a snap-on back, while the 6062 boasts a screw-down case for better water resistance. Another reason the 8171 is so coveted is its oversized 38mm design, which was massive for its time. Produced between 1949 and 1952, with a few made in the ’60s, any 8171 is a rare find—especially in pink gold, like this example. This particular piece is in incredible shape, with thick, full lugs and a beautifully preserved step between the lugs and the case which is often lost over time due to the soft nature of gold. The two-tone dial with blue accents add a subtle little pop which has aged gracefully showing a wonderful patina that makes this one in particular unique onto itself. The pink gold indexes and blued dauphine hands catch the light perfectly, giving it undeniable allure.

Estimate: €500,000 –⁠ 1,000,000
Actual: €1,222,000

This is hands down one of the marquee lots of this auction. I’ll admit, after spending time at the Patek Philippe Museum and talking shop with Max Bernardini in Milan—especially after a deep dive into the Patek ref. 1518—my perspective on vintage Patek has shifted. I’ve always been a fan of the brand, but something changed after these more recent experiences. I’m paying more attention to Patek’s vintage pieces specific to watches with complications. Sure, the modern era is fine, but frankly, I find it a little lackluster compared to what they used to create especially in the era of watches like the 2438/1. There’s an artistry and attention to detail in vintage Patek’s that feature complications that is just on another level.

Case in point: this Patek Philippe reference 2438/1. One of the rarest perpetual calendar moon phase wristwatches ever produced by the brand, with only 60 to 70 examples made between 1951 and 1958 in yellow or pink gold. To date, only about half of them have surfaced in the public market to demonstrate how insanely rare the 2438/1 is. The 2438/1 was Patek’s first waterproof perpetual calendar, a groundbreaking leap in mechanical innovation. Its case was crafted by master case maker Wenger, sharing design DNA with other iconic grail pieces like the Patek ref. 1518 and Ref. 2499. Of the pink gold versions, only 15 exist, and just seven have hit the public market- until now!

Monaco Legend Group is showcasing the 8th pink gold 2438/1 to have ever surfaced but this example takes it up a notch. While most 2438/1s feature baton markers, this one has an incredibly rare,  and previously never-before-seen “Oversize” Arabic numeral dial, completely transforming the look and feel of the watch. It was manufactured in 1954 and sold in 1958—a longer sales period, which wasn’t uncommon for watches of this caliber, likely due to the hefty price tag even back then.

What makes this piece even more compelling is its extensive provenance. The watch has been meticulously maintained over its lifetime and comes with a boatload of provenance, including its box, double Patek pochettes, not one but two extracts from the Patek archives (2021 & 2024), letters and receipts of Patek Philippe services, the first owner’s original passport, and Mr. Tortella and Sons’ “Deep-Study” documentation. With all that going for it, I expect this lot to blow past the estimate when it hits the auction block.

Estimate $20K – $40K Euros
Actual: $44,200

Within vintage Rolex, the 34mm Oyster-Perpetual line is one of the most undervalued and overlooked models, however, this range also features some of the most unique and captivating dials ever produced by the Crown. Enter this 18K ref. 6248 with one of the most fascinating dials we’ve seen surface from the brand, featuring a scalloped outer minute track in a rose gold guilloche finish accompanied by an almost flawless silver center dial. Further enhanced by the original rose gold Oyster bracelet and original Brevet twin-lock crown. This is a truly special and almost never seen timepiece that represents the horological excellence Rolex could achieve in this era. We think the estimate is spot on for this piece and anticipate it possibly exceeding expectations.

Estimate $200K – $400K Euros
Actual: $260,000

As the successor to the truly iconic model ref. 3448, and the first automatic perpetual calendar moon phase from Patek Philippe, you would expect to hear more about the ref. 3450, however, this model was only produced for about 5 years with a total production or approximately 237 models, even less than the ref. 3448, meaning this is an exceptionally rare model from the most important producers of perpetual calendar wristwatches. This model follows the same design ethos as its predecessor, both are nicknamed the “padellone”, with some subtle and welcomed updates, most notably being the leap year indicator. This specific model is so meticulously preserved, it would be at home at the Patek Museum in Geneva, featuring a truly crisp 18K yellow gold case and genuinely flawless dial, along with its original accessories. Since these models rarely surface, this sale will be a market maker for the reference, and with an example such as this, we expect a hammer price equal to its quality.

Estimate $15K – $30K Euros
Actual: $23,400

While it’s no surprise a Piaget timepiece utilizes semi-precious stones perfectly, however, there is levels to perfection, and this ref. 924 G 12 is the peak of 1970s Piaget in our opinion. At this point, something like this from Piaget shouldn’t be surprising, as the brand is known for their exquisite blend of hand craftsmanship and opulence, but when a piece such as this is presented in front of you, it’s hard not to sit in disbelief for a few moments. The seemingly organic, yet uniform molding of the gold fixtures that make up both the watch head and each of the bracelet links appear as they were forged on your wrist and act as the ideal housing for the coral discs adorned inside each piece. Its no secret Piaget has been on the rise lately, though this is piece is in another league, we wouldn’t be surprised if this example exceeds the allotted estimate.

Estimate $15K – $30K Euros
Actual: $71,500

We’re currently in an extremely exciting time for vintage Cartier, a brand that sat mostly overlooked for the past decade — or longer, but is now finally receiving its well-deserved recognition. Even though the tank is now widely regarded as an icon of design, its often the more extravagant designs that are talked about in frequent, however, the true value in Cartier lies within exceptional examples of uncommon variants within the iconic model line up. This tank in Platinum is nothing short of exceptional, featuring extremely deep hallmarks and factory markings throughout the case, and while the case may be smaller than what you’re used to, the platinum ‘tile-link’ bracelet extends the watch to be universal in size for both men and women while perfectly showcasing Cartiers skill in both watch design and jewelry making. At the low estimate this watch is absolutely a steal, so we expect at least the high estimate for this watch, and look forward to bidding along side you for this one.

Estimate $30K – $60K Euros
Actual: $338,000

The Cartier Coussin, or “Bamboo”, is arguably the most coveted Cartier model to come from the ‘Louis Cartier Collection’ that was actually produced by Ebel in the 1970s, and rightfully so. Additionally, this model has been consistently under estimated in recent auctions, however, a white gold model has yet to surface in recent times, making this lot especially exciting to both bid on and watch. The condition of this historically not water-resistant watch is superb, leading us to believe it has remained as a treasured timepiece in a collection for a long time. The Paris dial is near-perfect, with only minor flaws that do little to detract from the watches beauty and the case is simply exceptional as well, with crisp engravings throughout. Since recent yellow gold examples have reached nearly 6 figures at auction, this exceedingly rarer white gold model follows the trend of being under estimated, so we expect bids to fly past the estimate within the opening minutes.