Let's rewind the time to October 9, 1980. John Lennon, one of the world's biggest stars at the time, celebrates his 40th birthday. His wife, Yoko Ono, visits Tiffany & Co.'s flagship store at Fifth Avenue in New York and buys her husband a special watch. At the time, Tiffany was an official retailer of luxury watch brands such as Patek Philippe and Rolex.
Related: Patek Philippe: A Timely Investment The watch that Yoko Ono bought was the finest of them all – a Patek Philippe Ref. 2499. The iconic Ref. 2499 is considered to be the finest watch ever made by many watch experts and enthusiasts. What's even more impressive about this particular wristwatch that Yoko bought is that it's co-signed "Tiffany & Co.", meaning that the dial of the watch is stamped with Tiffany's name alongside Patek Philippe's name. Such detail, although small in size, can make a watch value increase by more than 100%.
Another detail that can make the value increase by, not only 100%, but probably ten times as much, is the fact that it has been owned by John Lennon. An item's ownership and history is called provenance, and if there's something collectors are willing to pay top dollar for, it's items with impeccable and interesting provenance.
Related: The Finesse of the Wristwatch News about the watch was made public after a court in Geneva ruled in favor of Yoko Ono as the rightful owner of the wristwatch. The reason for the court hearing was that it became known that the watch had been found in the hands of an Italian watch collector who bought it privately from a German auction house in 2014. The collector later went to Christie's with the intention of consigning it with them. Christie's was thrilled to get the opportunity to sell the world's most talked-about and celebrity-owned watch. They did, however, contact Yoko Ono (as they should) to get a statement from her. And that's when the legal issues began. Accordingly, Yoko only knew that the watch had been stolen once she was informed about it by Christie's. That's why, according to her, she never reported the watch as stolen. The Italian watch collector bought the watch for €600,000 (c. $638,000) in 2014 and claims that he is the rightful owner since Yoko Ono never reported the watch to be stolen, which, according to New York law, must take place within three years of the theft. The current status is, as stated above, that the court ruled in Yoko's favor, but the decision has been appealed, meaning that the final ruling hasn't yet been made.
Tragically, John Lennon was murdered on December 8, 1980, outside his New York apartment. That was less than two months after he celebrated his 40th birthday. He was never known to be a watch collector, but perhaps the Ref. 2499 could have changed that. Sadly, he didn't have much time to enjoy it. As of now, the hottest topic within the watch community is to guess the value of the watch. It's complicated since it's not an everyday watch where it's possible to compare other models to get a sense of the value. It's believed that only two Patek Philippe Ref. 2499 in yellow gold with a Tiffany & Co. stamp exist – John Lennon's, and one that was sold by Sotheby's in 2020 for $818,600, including the buyer's premium. However, adding John Lennon's ownership would probably increase the value ten times. At least, that's what experts say. Many believe that John Lennon's Patek Philippe Ref. 2499 could achieve $10 million at auction. That is, if it ever will be offered at auction.
Related: The 10 Most Expensive Watches Ever Auctioned The current record for any wristwatch ever sold without celebrity provenance is Patek Philippe Grandmaster Chime Ref. 6300A-010 ($31 million). Other expensive Patek Philippe models include the Patek Philippe Stainless Steel Ref. 1518 ($11.1 million) and the Patek Philippe Pink Gold Ref. 1518 with French calendar ($9.5 million.)
Looking at celebrity-owned watches, the most expensive watches are Paul Newman's Rolex "Paul Newman" Daytona Ref. 6239 ($17.7 million), Eric Clapton's Patek Philippe Ref. 2499/100 ($3.6 million), Steve McQueen's Heuer Monaco Ref. 1133 ($2.2 million), Mahatma Gandhi's Zenith No. 421357 ($2 million), Marlon Brando's Rolex Stainless Steel Ref. 1675 ($1.9 million), and Elvis Presley's Omega H6582/D96043 ($1.8 million). Note that I've excluded some lesser-known names, such as Henry Graves, Emperor Haile Selassie, and King Fuad I of Egypt, and only focused on more famous celebrities. Related: Marlon Brando's Rolex Goes to Auction
By looking at the two top lists written above, the conclusion is that a rare Patek Philippe and exceptional celebrity provenance are two features that bring massive hammer prices. To combine both, meaning John Lennon's Patek Philippe Ref. 2499… Well, the sky's the limit. There's a great possibility of the watch becoming the world's most expensive watch ever sold. Find more articles in Barnebys Magazine
