PATEK PHILIPPE

• cal 12-400 nickel lever movement stamped twice with the seal of Geneva, mono-metallic compensation balance, 18 jewels, micrometer regulator, adjusted to heat, cold, isochronism and five positions • silvered dial, applied gold faceted bullet indexes, gold dauphine hands, subsidiary seconds, outer pearled minutes track • 18k gold circular case, downturned lugs, screw back • case, dial and movement signed • with an associated 14k gold reed-style bracelet 

The movement is running, however it may require service soon. The dial has a stain on the edge between 1 and 3 o'clock. It is interesting to note that on the dial below 6 o'clock, it is designated 'Fab Suisse,' which is typical for the French import market of the 1940s and 1950s, thus demonstrating that the dial is original. The case is in good, albeit polished, condition, with some light scuffs and rubbed gold marks on the band. The case back bears two French owl marks which are very clear.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. All dimensions in catalogue descriptions are approximate. Condition reports may not specify mechanical replacements or imperfections to the movement, case, dial, pendulum, separate base(s) or dome. Watches in water-resistant cases have been opened to examine movements but no warranties are made that the watches are currently water-resistant. Please note that we do not guarantee the authenticity of any individual component parts, such as wheels, hands, crowns, crystals, screws, bracelets and leather bands, since subsequent repairs and restoration work may have resulted in the replacement of original parts. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue. In particular, please note it is the purchaser's responsibility to comply with any applicable import and export matters, particularly in relation to lots incorporating materials from endangered species.NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

**Please be advised that bands made of materials derived from endangered or otherwise protected species (i.e. alligator and crocodile) are not sold with the watches and are for display purposes only. We reserve the right to remove these bands prior to shipping.

Important Notice regarding importation into the United States of Rolex watches
Sotheby's cannot arrange for the delivery of Rolex watches to the United States because U.S. laws restricts the import of Rolex watches. The buyer or a designated agent may collect the property in the country of sale."

Accompanied by an Extract from the Archives confirming production in 1960 and sale on February 24th of that year.

Produced for approximately ten years starting in 1951, Ref. 2545 is sometimes referred to as an 'aquatic' calatrava for its screw-down case back. For another 'aquatic' calatrava, see lot 204.

It is interesting to note that the present example bears 'Fab Suisse' on the dial and two owl import marks on the case back, indicating that was created expressly for the French market.   

To the best of our knowledge, this is the first time the present example has been offered at auction.