A rare vintage Swiss watch discovered hidden away in a late mother’s jewelry box while the family was cleaning out her home has sold for £59,000 at a British auction—$80,000 in US dollars.
The 1930s Patek Philippe wristwatch smashed expectations after experts originally valued it at just £5,000.
The owner’s daughter remembers her mom once telling her she possessed an expensive watch, but no one expected the stainless steel timepiece to be worth almost 12 times its estimate.
“When I finally had the watch in my hands and was able to examine it properly, I knew we had something extremely rare,” said Darren Ashley, senior valuer at Hansons Cornwall, who held the public auction in Penzance on Tuesday.
He explained that Patek Philippe produced very few stainless steel watches during the period, and that rarity makes surviving examples incredibly desirable to collectors—along with its “mechanical perfection”.
“This was a watch dating back around 90 years, which had spent decades within the same Cornish family and—when it was placed in my hands—it was still finely ticking away.”
The rare Patek Philippe & Co Calatrava Reference 448 belonged to the seller’s grandfather who passed it to his daughter. It’s believed that their grandmother had a love for designer clothes and luxury items, and bought it as a gift for her husband decades ago.
“The pre-sale interest was phenomenal, from serious collectors across the world, but nothing quite prepares you for watching that level of bidding unfold in the room.”
“Having three members of the family there made it even more special. They were absolutely thrilled, while other members of their family were following the auction live from work on their laptops and phones and couldn’t believe what they were seeing.
“The final battle between (bidders in) Japan and China was incredibly exciting. To see the hammer finally fall at £59,000 was a fantastic moment for the family.
“It is one of those results that reminds you why this business is so exciting.
“Something extraordinary can still be sitting quietly in a jewelry box just a few miles away.”
“What a wonderful result,” added Charles Hanson, owner of Hansons Auctioneers. “Never overlook what is tucked away at home.”
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“This little watch had passed quietly through generations of a Cornish family, its late owner knowing she had something valuable, but perhaps never imagining quite how sought-after it would become.
“To see bidders in America, Japan and China competing for something discovered in a Cornish family home is the magic of auction.
“When rarity, quality and provenance come together, the results can be spectacular.”
The watch will now begin a new chapter thousands of miles away in Hong Kong.
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