New York, 10 April 2025 - Phillips, in Association with Bacs & Russo, will present a historically significant Tiffany & Co.-signed Patek Philippe wristwatch once owned by Paul Starrett, the master builder behind the Empire State Building and several of New York's most iconic landmarks. Fresh to market, bearing the original owner's initials on the caseback, and offered directly from the grandson of Mr. Starrett, the watch will be offered in The New York Watch Auction: XIV on 13 to 14 June, with an estimate of $15,000 to $30,000. Its appearance this spring coincides with the 95th anniversary of the Empire State Building.
The watch is an oversized 18 karat yellow gold rectangular wristwatch with an engraved caseband and Breguet numerals, produced in 1929 and retailed by Tiffany & Co. According to the Patek Philippe Extract of the Archives, it was delivered in November 1930, just a week after the mooring mast was erected atop the rising skyscraper. Following a world tour to London, Geneva, and Hong Kong, it represents a rare convergence of Art Deco design, American architectural achievement, and early 20th-century luxury craftsmanship.
Paul Boutros, Deputy Chairman and Head of Watches, Americas, said, "There is a natural harmony between the engineering found within both architecture and watchmaking and Phillips is honored to present a watch that so perfectly brings these two disciplines together. It is remarkable that one of the greatest buildings in the world was constructed to the steady ticking of the very watch we are presenting at auction. Paul Starrett acquired this Patek Philippe in 1930, meaning he owned and wore it throughout the construction of the Empire State Building, which celebrates its 95th year this Spring." He added that the timepiece, "absolutely oversized for its era measuring an impressive 36.5mm long by 26mm wide," is "a design that was ahead of its time, sized perfectly for today's tastes," and that its appearance at auction now "represents an extraordinary opportunity to acquire not only a superb timepiece, but a tangible piece of New York City history."
The builder behind the skyline
Paul Starrett was born in Chicago, though his legacy is most often associated with the architectural history of New York. A master builder and architect, he was among the key figures responsible for the Flatiron Building, the original Penn Station, the Plaza Hotel, the Biltmore Hotel, and the Lincoln Memorial, though he is perhaps best known for the Empire State Building. Together with his identical twin brother William, the Starrett Brothers and Eken firm served as the contractors responsible for the landmark, overseeing a workforce that peaked at around 3,500 workers. The skyscraper rose at a rate of four and a half stories per week and opened officially on 1 May 1931, ahead of schedule and under budget, only eighteen months after construction began. In the race for the title of world's tallest building, it prevailed over the Chrysler Building and 40 Wall Street, a distinction it held from 1931 until 1972.
Starrett described the ambition behind the project in his memoir, Changing the Skyline, writing that he set out to build "the world's tallest, not only the tallest one but one which expresses most completely and honestly the skyscraper idea," a structure he called "truly an epitome of all that has preceded, all the spirit, the imaginative and technical daring, and even some of the frenzy, that animated the decade of which it was the culmination."
An exceptional Art Deco survivor
Beyond its provenance, the watch is exceptionally well preserved and an ideal example of the Art Deco era. Its oversized rectangular case recalls those made for the Brazilian retailer Chronometro Gondolo, adorned with Breguet numerals and a high-grade 10-ligne manually wound caliber with wolf's-tooth winding gears. The case band is engraved with floral scrollwork, a trait noted in the Extract that, to the best of Phillips' knowledge, has not been identified on any similar watch of the period. As with pocket watches of the era, only Tiffany & Co.'s signature appears on the dial, while the case, made by Wenger, and the movement are signed Patek, Philippe & Co. Starrett's initials, "PS," appear boldly on the caseback, and the watch retains its original 18 karat gold-mesh bracelet signed Whiteside & Blank, most likely purchased at Tiffany & Co. at the same time.
A record-setting watch department
The offering arrives from a house that has redefined the watch market. Phillips in Association with Bacs & Russo holds the world record for the most successful watch auction, its DECADE ONE (2015 to 2025) sale having realized $83 million in 2025. The annual total for watch auctions in 2025 exceeded $290 million, marking the first time any auction house's Watches department has surpassed US$200 million in annual sales for five consecutive years. The department's record-breaking results include Paul Newman's Rolex "Paul Newman" Daytona reference 6239, which sold for CHF 17,709,894 (US$17,752,500) in October 2017, the highest result ever achieved for any vintage wristwatch at auction, and a Patek Philippe reference 1518 in stainless steel, which realized CHF 14,190,000 (US$17,631,075) in November 2025, the highest result ever achieved for a vintage Patek Philippe wristwatch at auction.
As Phillips marks its 230th anniversary in 2026, the house celebrates more than two centuries at the forefront of the global market for Modern & Contemporary Art, Design, and Luxury. Founded in London in 1796 by the auctioneer Harry Phillips, it holds its principal auctions in New York, London, Geneva, and Hong Kong, and through its partnership with Bacs & Russo continues to lead the industry in watches.
Estimates do not include the buyer's premium; prices achieved include the hammer price plus buyer's premium.
(Press Release)
