I · The Maker/II · The Object/III · The Record/IV · Acquisition
Room I · The Maker
Patek Philippe, founded in Geneva in 1839, is widely regarded as the finest watchmaker in history. By the 1930s the firm had perfected the art of the pocket watch in every grade from utilitarian to grand complication. A PXP-stamped piece represents the firm’s work at full maturity, imported for the American market through the official Henri Stern Watch Agency.


The Object
A 1937 Patek Philippe in 18-carat gold, its original enamel dial carrying Breguet numerals that have each toned to their own colour, and a PXP stamp on the caseback identifying it as an official Henri Stern Watch Agency import for the US market.
By the late 1930s, Patek Philippe had spent nearly a century refining what it meant to make a pocket watch correctly, and the firms competing at the top were competing on quality alone. This watch is that idea in the metal: an open face of 43.9mm in 18 carat gold, the size the Swiss trade simply called a normal pocket watch, 54.1 grams of it, made around 1937 with the maker's full standard applied to a watch that has no complications to hide behind.
The dial is original white enamel with a subsidiary seconds register at six and a minute track of small raised enamel dots. The numerals are Breguet style Arabic figures, the elongated, flourished form Abraham-Louis Breguet introduced in the 1780s, and the gold hands match them, each drawn to a fine point with an open ring near the tip. The gilt of the numerals has oxidised over ninety years, and not evenly: each figure has taken its own colour, copper on the three, sea green on the four, a faint violet sheen on the nine. That spread of colour only happens when gilt is left completely alone for decades, and it cannot be copied onto a restored dial. Nothing here has been repainted or replaced.
The watch crossed the Atlantic through Patek Philippe's official American channel, the Henri Stern Watch Agency, and the stamp recording that journey is still on the caseback. The crystal is clear, the crown winds and sets correctly, and the movement runs.
The marks, the movement and the condition are set out piece by piece in the drawers below; the PXP import stamp and the archive record are set out in The Record.
Beneath the case
Open each drawer to look closer

Mark 1
18ct Gold Mark
Swiss 18-carat gold hallmark confirming the purity of the case metal.

Mark 2
PXP Import Stamp
Mark of the Henri Stern Watch Agency, Patek Philippe’s exclusive US distributor from 1946.

- ACalibreManual-wind lever movement with 18 jewels.
- BAdjustmentAdjusted to five positions for precision timekeeping.
- CSerial NumberMovement serial 880012, datable to approximately 1937.
- DSub-SecondsSubsidiary seconds register at six o’clock driven from the fourth wheel.
Caseone honest fault
Very good
Light wear and test marks consistent with age; no dents or deep scratches. Hallmarks and PXP import stamp clearly legible.
Dial
Excellent
Original white enamel with Arabic numerals, no hairlines, no chips, no restoration. Warm patina of age.
Crystal
Excellent
Clear, no cracks or chips.
Movementone honest fault
Very good
18-jewel manual wind running correctly; winds smoothly and sets correctly. Service history unknown.
43.87
This watch
25.75
€2 coin
A €2 coin is 25.75 mm. This case is more than two and a half times its area.
Room III · The Record
PXP import stamp for the Henri Stern Watch Agency
The caseback carries a PXP stamp, the mark of the Henri Stern Watch Agency, Patek Philippe’s exclusive American distributor from its founding in 1946. The stamp identifies the watch as an officially imported piece for the US market; since the agency postdates the watch’s manufacture, it crossed the Atlantic in the post-war years. An Extract from the Archives can be requested from Patek Philippe to document the original production records of movement and case.
- Maker
- Patek Philippe
- Model
- Open Face
- Case
- 18-carat solid gold (open face)
- Diameter
- 43.87mm
- Case serial
- 504645
- Movement serial
- 880012
- Movement type
- Manual wind lever
- Movement jewels
- 18
- Adjustment
- Five positions
- Complications
- Sub-seconds
- Country of origin
- Switzerland
- Hallmarks
- 18ct gold marks; PXP stamp (Henri Stern Watch Agency)
- Estimated date
- C.1937
- Box/Papers
- None
The Estate Collection
Room IV · Acquisition
€13.000
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Patek Philippe
€13.000
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Open Face in 18ct Gold
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