Let’s keep this short: it doesn’t get much better than a split-seconds chronograph from Patek Philippe, signed by Tiffany & Co. So, it’s not a stretch to say that one of the best lots up for auction this season is a Patek Philippe reference 1436 split-seconds chronograph retailed by Tiffany & Co. and signed on the dial, offered at Sotheby’s October 9 Important Watches Auction in Hong Kong. According to Sotheby’s, there are just five known examples of the reference 1436 retailed by Tiffany. With that, I wanted to take a look at the known examples, as well as recent auction results for each.

First, a brief bit about the reference 1436: This split seconds chronograph reference was first introduced by Patek in 1938 and continuously produced until 1971. Patek was the first to put a split seconds complication into a wristwatch (accomplishing that in 1923), so the reference 1436 is something of a follow-on to those early efforts. But don’t mistake this longer production run for abundance: only about 140 examples were made, in yellow gold, pink gold, and stainless steel. The reference 1436 is equipped with the Patek caliber 13-130 CCR.

While some swoon over oversized split seconds chronographs from the likes of Eberhard or Universal Geneve, it’s the diminutive reference 1436 — measuring just 33mm — that makes my heart skip a beat. As with any Patek, a Tiffany & Co. stamp makes the reference all that much more desirable. During the reference 1436’s production run, Patek did business in the U.S. through the Henri Stern Agency. Patek’s preeminent complicated chronograph, the Tiffany signature on the dial, the Henri Stern Agency’s signature engraving on the movement: it all harkens back to a time when any number of companies worked together to deliver the best possible luxury products to their customers, and when customers would walk into a boutique on Fifth Avenue expecting to find that one product they could expect to last a lifetime.

To take a brief step back: the split-seconds chronograph complication, or rattrapante for those who took a few years of high school French, is quite simply the king of chronograph complications. A split seconds chronograph has two (instead of one) sweeping seconds hands. This allows the operator to time intermediate events (e.g., racing laps) while still keeping track of overall time. Activating the chronograph will start both seconds hands. Pressing a button will then cause the split seconds hand to stop, while the other sweeping hand keeps ticking. This allows the operator to record the time reflected in that stopped hand. Then, pressing another button will cause the stopped hand to catch up to the hand that’s still ticking and the process can repeat itself. For more on the split-seconds complication, check out the great in-depth article by PH Zhou.

With introductions out out of the way, let’s take a look at the five known examples of the reference 1436 split seconds chronograph retailed by Tiffany & Co. All feature the same silvered dial in an 18k yellow gold case, but variations within the dial mean each has its own character.

1. Reference 1436 manufactured in 1960 (condition, condition)

Case No. 2,616,386; Movement No. 868,994

Sold by Sotheby’s in 2020, for HKD 5.2m

Sold by Antiquorum in 2011 for $284,500

First up, let’s take a look at the example on the block from Sotheby’s, since it might exhibit the most exemplary condition of the bunch. This particular example was manufactured in 1960 and sold one year later by Tiffany. It was originally brought to the market by Antiquorum back in 2011. At that time, it was found in all original, barely worn condition: the original crown, crystal, strap, Patek buckle, and even Tiffany & Co. presentation box were all there. The dial had little signs of patina, and the case is unpolished. There are even numbers on the backs of the lugs, hand-engraved by Tiffany, which would have likely been polished away at the first sight of a polishing wheel. Fast-forward to 2020, and it looks to be offered in much the same condition. Sotheby’s says that the collector who purchased the watch in 2011 never slipped it on their wrist.

For more, check out this YouTube video from Antiquorum’s 2011 sale. As a testament to the watch’s condition, Antiquorum’s Charles Tearle described it as in “absolutely pristine, exception condition. Never polished, never serviced, never molested in any way.”

2. Reference 1436 manufactured in 1950 (horseracing heritage)

Case No. 663,041; Movement No. 867,851

Sold by Christie’s in 2015 for $341,000

This particular example was manufactured in 1950 and subsequently sold in 1959. It was offered fresh to the market by Christie’s in 2015 in excellent condition: the original dial had developed a slight, warm patina.

The provenance of this example tied it to Webb and Marjorie Everett, notable leaders in the American horse-racing industry throughout the 20th century. This reference 1436 was given to Webb from his wife Marjorie in 1959 with an engraving A.M.L for All My Love (I checked, and The Beatles’ song “All My Loving” didn’t come out until 1963). In addition, the Tiffany & Co. dial signature and HOX engraving (for the Henri Stern Agency, Patek’s U.S. agency) on the movement make this a true All-American watch. The ownership of a reference 1436 by two horse-racing legends actually speaks to the original intent of a split seconds chronograph. Since the split seconds hand allows you to clock intermediate events — for example, timing laps of a horse race — they were designed with this very use in mind.

Over the course of the reference 1436’s production run, Patek used two different constructions for how the splits seconds hand is actually split. On the first generation — seen here — the crown served as a button to split and reunite the two chronograph seconds hands. The later, second generation added, a second, smaller push button within the crown (see above, for example), which was to be used to operate the split seconds function.

To me, this is perhaps the most romantic of the known Tiffany & Co. reference 1436 examples: a gift from a wife to her husband, both horse-racing legends, using the watch for its intended, functional purpose. With a footprint in Los Angeles, the Everetts had quite a social network (rich people with egos love horses): Elizabeth Taylor, Ronald Reagan, Jimmy Stewart, etc. The subtle elegance of wearing an understated, 33mm complicated Patek on one’s wrist while chatting horses with these big names celebrities hints at a couple who truly loved what they did, and didn’t do it for fame, fortune or recognition. To them, the watch was more about the functionality it offered than any statement it made. In this way, the Everetts may have been a bit like the reference 1436 itself: Patek threw a split seconds chronograph into a 33mm case in the 1940s — it’s not like dozens of brands could even make a split seconds complication — and didn’t really care who noticed or who bought it.

3. Reference 1436, manufactured in 1955 (Breguet numerals)

Case No. 676,624; Movement No. 868,326

Sold by Antiquorum in 2005 for CHF 391,250

Sold by Antiquorum in 1997 for CHF 185,000

Next, we have a reference 1436 with Breguet numerals and the Tiffany signature above Patek at 12 o’clock. This particular example was manufactured and sold in 1955, making it another of the first generation.

This reference 1436 looks like an exercise in classic watchmaking: Breguet numerals, feuille hands, open rings on both sweeping seconds hands. It has commanded auction results commiserate with its beauty: CHF391k in 2005 is nothing to neigh at, and it’d be fascinating to see what this piece would command were it to come to auction again.

4. Reference 1436, manufactured in 1959 (telemeter scale)

Case No.2,603,337 ; Movement No. 868,980

Offered by Antiquorum for est. $200,000-$250,000

Sold by Antiquorum in 1992 for CHF 182,250

According to Antiquorum, this particular example of the reference 1436 was manufactured in 1959 and sold a year later. It’s somewhat similar to the previous example, but it features a blue telemeter scale on the inside of the dial. Again, the Breguet numerals make it stand apart from other examples. Add in the large tachymeter scale on the outer ring, and it’s a testament to Patek’s brilliance of design that the dial remains balanced and doesn’t feel busy or bloated. This example is another from the first generation of the reference 1436, as evidenced by the lack of an internal pusher in the crown.

5. Reference 1436, manufactured in 1969 (baton indices)

Case No. 2,642,015; Movement No. 869,217

Sold by Antiquorum in 2009 for CHF 216,000

Offered by Antiquorum in 1994 for est. CHF 140,000-150,000

This example was manufactured and sold in 1969, making it the last chronologically of the Tiffany-signed reference 1436 examples. Its design is proof of this, as it looks the most modern of the five: the font used for the Patek and Tiffany signatures is similar to what one might expect on a modern wristwatch featuring such venerated names. With only baton indices and an outer tachy scale, the dial looks austere and minimal, especially as compared to the more opulent, classic Breguet numerals found on earlier examples. The simple baton hands also indicate a more modern watch. Taken as a whole, it’s almost hard to believe that this watch was made only a decade after the previous example. It demonstrates Patek’s ability to slowly evolve a reference — in this case, over 30+ years — to reflect prevailing tastes, while at the same time staying true to its identity as a manufacturer.

Tiffany Patek ref. 1436 auction results summary

To summarize auction results for these five superlative split seconds Pateks:

• 2020 (Sotheby’s, No. 1 above): HKD 5.2m

• 2015 (Christie’s, No. 2 above): $341,000

• 2011 (Antiquorum, No. 1 above): $284,500

• 2009 (Antiquorum, No. 5 above): CHF216,000

• 2005 (Antiquorum, No. 3 above): CHF 391,250

• 1997 (Antiquorum, No. 3 above): CHF 185,000

• 1992 (Antiquorum, No. 4 above): CHF 182,250