Al Capone's Diamond-Studded Pocket Watch at Sotheby's

Sotheby’s presents an unparalleled selection of trophy Patek Philippe timepieces in its Important Watches auction on 10 June in New York. The exceptional lineup includes six minute repeaters (an unprecedented number in a single sale), three double-signed vintage grails (including a pink gold 2nd series ref 2499 retailed by Gobbi Milano– the only one known to exist), a sapphire set Nautilus, and last but not least, a platinum and diamond set pocketwatch formerly owned by Al Capone. These aren’t just rare watches—they're the best examples of the rarest Patek watches. 

Below are a few of the auction’s unmissable highlights. The exhibition is free and open to the public from 6 - 9 June at Sotheby’s New York galleries. 

When somebody thinks of a “gangster,” it usually conjures up the image of a man in a double-breasted pinstripe suit, fedora, cigar in hand—and a wide, mischievous smile. In other words, you’re thinking of Al Capone. A century after the height of his reign, the original American gangster continues to captivate imaginations across the country and around the world.

Capone looms large as the inspiration for characters in 1930s films starring James Cagney, and he’s even mentioned in the bestselling book The Godfather.

Known by many names—King Alphonse, Scarface, and of course, Public Enemy No. 1—Al Capone was revered by many in his local community as a sort of modern-day Robin Hood, using his ill-gotten gains to donate to charity and give back to the poor in Chicago. His exploits and conquests made for spectacular stories and headlines during the Roaring Twenties, and Capone reveled in the attention, becoming known for his expensive taste and for enjoying the trappings of wealth that he began to accumulate: custom suits, shirts, and indeed, even this Patek Philippe pocket watch.

The present Patek Philippe pocket watch is an exceptional embodiment of the extravagant style Capone was known for. According to his family, we do not know where he purchased the watch, but we do know that he discarded its original “plain” case and instead commissioned a new custom pocket watch case made from solid platinum. The dial side features an “open face” design with Breguet numerals and the period-correct ‘long signature.’ The dial has dramatically aged over the years, and the minute hand is no longer with the watch—we can only speculate as to how or why this happened, but suffice it to say, this watch has more than a few stories it could tell.

Even more interesting is the reverse side, where Capone emblazoned 90 single-cut diamonds spelling out his initials, ‘AC,’ in stunning Art Deco form. Befitting for a man known for his inimitable style, who single-handedly came to define the look of the American gangster.

Of course, such a watch was hardly subtle, and ultimately it was tax evasion that enabled the federal government to send Capone to jail, eventually landing him in the legendary Alcatraz Federal Penitentiary. As evidence of our ongoing fascination with Capone, it’s been 86 years since he was discharged from Alcatraz, yet people still flock to that island prison to see his preserved jail cell. After his imprisonment, much of his property was seized—one legend even claims that his armored car became the first one used by a President of the United States—but this Patek Philippe stayed with the family until very recently and is now ready to sit as a trophy in any collection.

Provenance

The Capone Family, Circa 1919-2021
Witherell’s Auction, A Century of Notoriety: The Estate of Al Capone, 8 October 08, 2021, lot 121

Lot 13. Patek Philippe & Co. , a pocket watch in platinum and diamond-set keyless wind open face watch, formerly owned by Al Capone, circa 1919

• Dial: silvered
• Caliber: mechanical, jeweled
• Movement number: 188’385
• Case: platinum, snap on case back with diamond-set letters ‘AC’
• Case number: 28’727
• Diameter: 42 mm
• Signed: dial, and movement
• Box: no
• Papers: no
• Accessories: Provenance paper from Witherell’s Auction signed by Barbara Mae Capone

Estimate: USD 80'000-160'000

Patek 2499 ‘Second Series’ Gobbi-Milano

The 2499 is a highly sought-after reference of Patek Philippe’s Perpetual Calendar Chronograph – the most complicated watch available in their production catalog. Exceedingly complicated to produce and expensive to purchase, only nine were made per year over its 35-year production run. Due to its large size and modern design, it’s considered a “holy grail” of watch collecting”. This example is one-of-a-kind, being produced in highly desirable pink gold and having a dial that is stamped by the prestigious Italian Jeweler ‘Gobbi-Milano’.  The watch is in museum grade condition having been with the original family until 2007 and has been held in two important private collections since then. It carries a pre-sale estimate of $3,000,000 - $5,000,000.

Patek Philippe Ref. 2524 Retailed by Gubelin

The 2524 is the culmination of Patek Philippe's work developing minute repeating watches in the early 20th century. A watch that is capable of chiming the time utilizing two small hammers and chimes, it remains one of the most elegant and complex watches to produce – with Patek producing less than 50 examples of the 2524 altogether. This example is one of just two produced in pink gold, and is the sole example to have been stamped by the prestigious Swiss retailer Gübelin – which has been a Patek Philippe retailer for over 170 years. Beyond the extraordinary rarity of the watch, it has also not been seen publicly since 1989 when it was last sold in a landmark auction titled ‘The Art of Patek Philippe’, where the watch achieved over $300,000. This is an occasion for such a watch to be offered for sale publicly for just the second time, and its pre-sale estimate is $1,250,000 - $2,500,000.

Patek Philippe Ref. 5531R World Time ‘Rare Hand Crafts’

Patek Philippe has been making World time watches since 1939 – the most desirable of which incorporate a cloisonné enamel dial. Building on that tradition is the 5531, a minute repeating world timer which uses a series of enamel decorations depicting views of different locations around the world. Our example features a view of Lake Geneva, with a sailboat flying the Swiss Flag. Using the slide to activate the minute repeater that delicately chimes your “home” time set for the watch. These were “application only” watches in which the owner had to apply to Patek in order to acquire it, and they were not available to the general public.  This example carries an estimate of $550,000 - $1,100,000.

Patek Philippe Ref. 5711P ‘Sapphire’

The Patek Philippe Nautilus is one of the most desirable sports watches in the world, and between 2010 and 2013, Patek Philippe introduced what is arguably the most exclusive and opulent version of the 5711: a series of platinum gem-set models that were never listed in the official catalog and reserved strictly for the brand’s most important clients. This example here, a reference 5711/111P, is one of these incredibly elusive sapphire-set pieces. It features a sapphire-set bezel with 32 baguette-cut sapphires, matched by 12 sapphire baguette hour markers on the iconic black dial. At 6 o’clock on the bezel sits a flawless diamond- a detail that Patek Philippe reserves exclusively for timepieces cased in platinum.  This rare and truly stunning watch has an estimate of $300,000 - $600,000.

Patek Philippe Ref. 3448 Perpetual Calendar ‘Beyer’

One of Patek Philippe’s most iconic Perpetual Calendars, the reference 3448 holds the distinction of being their first-ever automatic perpetual calendar. As such, it was marketed as the complication “that could think,” as it tracks the number of days in each month, accounting for leap years, requiring no adjustment until the year 2100. Despite being produced for 20 years, fewer than 130 were made in white metal making our example here incredibly special. Furthermore, it is the only known White Gold example to be “double-signed” by the famous retailer Beyer. As such, it has an estimate of $500,000 - $1,000,000.

For more information, please visit sotheby's.com