Rare 1930s Vintage Watch Discovered in House Clearance Sells for £59,000

A vintage Swiss watch discovered tucked away in a late mother’s jewellery box has stunned auction watchers after selling for £59,000.

The 1930s Patek Philippe wristwatch dramatically outperformed its pre-sale estimate, having initially been valued by specialists at around £5,000.

The rare timepiece came to light during a house clearance at a property in Camborne, Cornwall, before going under the hammer at Hansons Auctioneers in Penzance on Tuesday.

Made from stainless steel, the watch had reportedly spent years lying unnoticed among old pieces of jewellery.

The owner’s daughter said she recalled her mother mentioning that she owned a valuable watch, although the family never realised just how much it might be worth.

She said no one had imagined the cherished family heirloom would achieve nearly 12 times its guide price at auction.

Darren Ashley, senior valuer at Hansons Cornwall, said: ‘When I finally had the watch in my hands and could inspect it closely, I realised we were dealing with something exceptionally rare.

‘Patek Philippe made only a small number of stainless steel watches in that era, and that scarcity makes the surviving examples hugely sought after by collectors.

‘But one of the things I loved most was 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.

‘Combined with its wonderful provenance, it was an absolute pleasure to be entrusted with selling such an incredible timepiece.’

The rare Patek Philippe & Co Calatrava Reference 448 belonged to the vendor’s grandfather who passed it to his daughter.

It is believed their grandmother, who had a love for designer clothes and luxury items, bought it as a gift for her husband decades ago.

Potential buyers emerged from America, Japan, China, Saudi Arabia and the UK before the watch was sold to a phone bidder in Hong Kong.

Mr Ashley added: ‘The pre-sale interest was phenomenal. We had interest 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 Japan and China was incredibly exciting. To see the hammer finally fall at £59,000 was a fantastic moment for the family and for Hansons Cornwall.

‘It is one of those results that reminds you why this business is so exciting.

‘Something extraordinary can still be sitting quietly in a jewellery box just a few miles away.

‘Never overlook what is tucked away at home.’

Charles Hanson, owner of Hansons Auctioneers, said: ‘What a wonderful result and a wonderful story.

‘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.

‘Then, decades later, it emerged from a jewellery box in Camborne and attracted collectors from across the globe.

‘To see bidders in America, Japan and China competing for something discovered in a Cornish family home is the magic of auction.

‘Patek Philippe represents the pinnacle of fine watchmaking and, when rarity, quality and provenance come together, the results can be spectacular.

‘A watch which had been treasured in Cornwall for generations will now begin an entirely new chapter thousands of miles away in Hong Kong.’