Patek Philippe

• cal 12-400 manual winding nickel lever movement stamped twice with the seal of Geneva, adjusted to heat, cold isochronism and 5 positions, micrometer regulator, mono-metallic compensation balance • silvered matte dial, applied gold Arabic and slim triangular indexes, subsidiary seconds • circular case with faceted lugs, snap back • case, dial and movement signed

Reginald H. Fullerton, Jr.

In excellent condition with crisp definition to lugs and gold marks, dial gently cleaned most likely by Patek but overall with even patina, numerals and batons with attractive oxidation from age, movement is in good clean condition and running when catalogued. Accompanied by later non-Patek gilt metal buckle. The strap of this watch contains endangered species; please see Important Notices for further information.
"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 a Certificate of Origin, Patek Philippe sales receipt listing the purchase price in 1953 as 1000 Swiss Francs and embossed Patek Philippe envelope. Further accompanied by an Extract from the Archives confirming the date of manufacture in 1953 and subsequent sale on August 20th of the same year.

According to Pete Fullerton's records, this Ref. 1578 was the first Patek Philippe wristwatch he purchased. This piece would start a lifelong association with Patek Philippe in continuation of his grandfather's storied patronage of the firm. The purchase date in August 1953 was just several months after the death of Henry Graves, Jr., and Pete Fullerton was 20 years old at the time.

It is interesting that one of Pete Fullerton's hallmarks as a collector was to retain certificates for his pieces, something that was not done with any regularity at that time. He also retained the original receipt which recorded the purchase price of 1000 CHF, or $234. Also interesting is the fact that 1953 marked the 20th anniversary of the Henry Graves Supercomplication watch, delivered in 1933.

The Ref. 1578 was launched in 1943 and was in production until the mid-1960s.The model was made either with subsidiary or sweep seconds and divided into separate series. The present lot with subsidiary seconds belongs to the second series characterized by the calibre 12-400 movement. The second series was produced between 1949 and 1961. The case was created by Wenger and the faceted lugs are sometimes referred to as "spider lugs".