Hairspring

Erik & Max venture into the side of the AP back catalogue far too often forgotten and overlooked: non-RO vintage. From the Clover to the 1533 or Star Wheel Repeaters and restomod Cartier, the depth of value that exists in AP’s posterity is immense. If you’ve ever wondered what the first Tuscan ref is, who A l’Emeraude is, or what a Disco Volante has in common with today’s independents—listen in. Plus an only wrist for a Patek AD. 

Links Mentioned: 

5516:

https://www.hodinkee.com/articles/vintage-audemars-piguet-reference-5516-perpetual-calendar

John Shaeffer Collecting Guide:

https://www.hodinkee.com/articles/buying-selling-collecting-john-shaeffer-repeaters

25881 Explainer:

https://singaporewatchclub.com/blogs/articles/john-shaeffer-ap-s-best-kept-secret

25881 Purple Dial:

https://www.sothebys.com/en/buy/auction/2024/fine-watches-7/repetition-minutes-john-schaeffer-reference-25881

Ceramic-Link Bamboo ref. 66192 & 66172:

https://apchronicles.audemarspiguet.com/adobe/dynamicmedia/deliver/dm-aid--cd79969e-bfab-495f-8049-3a18d16e361a/ap-chronicles-image.webp

https://onlineonly.christies.com/s/watches-online-dubai-edit/audemars-piguet-bamboo-ref-66172ba-gold-diamond-set-quartz-wristwatch-24/165533

5072:

https://www.db1983.com/product-page/audemars-piguet-5072st-vzssc-37mm-1955

5503:

https://www.hodinkee.com/articles/inside-the-archives-of-audemars-piguet

https://www.hodinkee.com/articles/vintage-vacheron-minute-repeater-at-christies (Scroll Down Here)

831:

https://www.phillips.com/detail/audemars-piguet/183251?fromSearch=831

Collaboration Work with Cartier:

https://www.phillips.com/detail/audemars-piguet/CH080515/233 (Erik was Wrong, Henry is in fact American not English!)

https://www.phillips.com/detail/cartier-and-audemars-piguet/221688?fromSearch=audemars%20piguet%20cartier&searchPage=1

1533:

https://www.phillips.com/detail/audemars-piguet/90520

https://www.phillips.com/detail/audemars-piguet/122598

25681PT ‘Clover’:

https://www.acollectedman.com/products/quantieme-perpetuel-clover-asprey

5661 / ref. 25661 Tuscan:

https://amsterdamvintagewatches.com/shop/audemars-piguet-quantieme-perpetuel-tuscan/

25557:

https://apchronicles.audemarspiguet.com/en/asset/140_carousel16_2v2 (Rightmost)

https://www.sothebys.com/en/buy/auction/2024/important-watches-part-i/reference-25557ba-a-yellow-gold-perpetual-calendar

5548:

https://www.watchbrotherslondon.com/articles/reference-talk-audemars-piguet-quantieme-perpetual-automatique

AP Calibre 2003:

https://apchronicles.audemarspiguet.com/en/calibre/Calibre-2003

5093BC:

https://hairspring.com/blogs/finds/gubelin-signed-5093bc-audemars-piguet-disco-volante

A l’Emeraude QP:

https://www.phillips.com/detail/audemars-piguet/CH080424/145

(Which Inspired this https://monochrome-watches.com/collectors-series-nopstar83-audemars-piguet-edward-piguet-ultra-thin-skeleton-perpetual-25734or/)

5740:

https://hairspring.com/blogs/finds/5740g-patek-philippe-nautilus-perpetual-calendar

6196P:

https://www.hodinkee.com/articles/the-patek-philippe-6196p-the-best-calatrava-in-a-generation

5270:

https://hairspring.com/products/5270r-perpetual-calendar-chronograph-pink-gold

The title says it all here, with one twist. First, Erik & Max guess each other’s ideal 3 watch collections—a reverse grail collection built for each other. Then it’s the actual current 3-watch grail collection, no holds barred. Many watches are discussed, few make the grade. You all asked, many times, here we are. Plus, an Only Wrist for a Houston electrician. 

Links Mentioned: 

404.032:

https://hairspring.com/products/404-032-double-split

6105:

https://www.monacolegendauctions.com/auction/exclusive-timepieces-25/lot-272

Early Datejust Reading:

https://le-monde-edmond.com/datejust-a-closer-look-at-a-rolex-icon-2/

Clapton 5004R:

https://www.phillips.com/detail/PATEK-PHILIPPE/HK080216/1011

2497G:

https://www.phillips.com/detail/patek-philippe/160474

345.0809:

https://www.omegaspeedymoon.com

403.041 Yellowjacket:

https://www.phillips.com/detail/a-lange-sohne/CH080320/240

Black 5004G:

https://www.phillips.com/detail/patek-philippe/193506

2915:

https://hairspring.com/products/2915-2-omega-speedmaster-steel

Pisa:

https://www.phillips.com/article/121350662/a-lange-and-sohne-datograph-pisa

414.028:

https://www.phillips.com/detail/a-lange-sohne/181134

Bao Dai:

https://www.phillips.com/detail/rolex/90349

https://en.wikipedia.org/wiki/Bảo_Đại

WMT:

https://www.phillips.com/detail/wmt-(watch-experimental-unit)/202955

YG Brass Resonance:

https://hairspring.com/products/chronometre-a-resonance-brass-movement-platinum

Yosuke & Dufour:

https://www.instagram.com/p/DScn5Qaklh4/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==

RRCCII:

https://www.acollectedman.com/pages/rexhep-rexhepi-chronometre-contemporain-two

Laurent Ferrier Phillips:

https://hairspring.com/products/hommage-ii-for-phillips-steel

5516:

https://apchronicles.audemarspiguet.com/en/asset/140_carousel03_05v2

Only Wrist:

https://hairspring.com/blogs/finds/5100-rolex-texano

https://hairspring.com/blogs/finds/3770-patek-philippe-nautellipse

It is finally time to dissect and opine on the 3940. Erik & Max break down series with some nuances you may not expect. This includes hallmarks, Singer vs Stern dials, Series breakdown, and thoughts on what truly matters here. And that’s just the first half of the episode, with the second dedicated to covering the vast majority of all major references since and what to pay attention to. It’s the second half Patek Philippe of the ‘pure’ QP bloodline this week. 

Links Mentioned: 

Zeitwerk Press Photo:

https://www.alange-soehne.com/us-en/timepieces/zeitwerk/zeitwerk-honeygold-lumen

Technical Review of 240 Q:

https://www.41watch.com/en/journal/buyers-guides/technical-review-of-the-mythical-240-caliber-from-patek-philippe

First Series 3940:

https://www.phillips.com/detail/patek-philippe/191571

Evolution of Just First Series Dials Alone:

https://www.watchbrotherslondon.com/articles/the-three-dials-of-1st-series-patek-philippe-ref-3940

Early Second Series 3941:

https://hairspring.com/products/3941j-perpetual-calendar-dore-dial-early-second-series-yellow-gold

Late Second Series:

https://www.phillips.com/detail/patek-philippe/143107

Third Series:

https://hairspring.com/collections/exclusives/products/3940p-perpetual-calendar-third-series-platinum

Beyer First Series:

https://www.phillips.com/detail/patek-philippe/183202

Interesting ‘Syrup’ 24-Hour indicator patina:

https://www.watchbrotherslondon.com/sales-corner/p/1992-patek-philippe-perpetual-calendar-3940-platinum-collector-set

Roman 3940:

https://www.watchprosite.com/patek-philippe/3940g-025-roman-dial-change-to-3940g-013-classic--value-impact/11.1590521.15856176/

3945 (Soldered Bracelet):

https://www.phillips.com/detail/patek-philippe/215848?fromSearch=3945

https://www.christies.com/en/lot/lot-6102706

Saatchi History:

https://www.phillips.com/article/144079689/patek-philippe-saatchi-edition-london-2015-grand-exhibition-about

5039:

https://hairspring.com/blogs/finds/5039g-patek-philippe-perpetual-calendar

5040:

https://hairspring.com/blogs/finds/5040p-patek-philippe-perpetual-calendar

5049P:

https://www.watchprosite.com/patek-philippe/latest-addition--ref-5049p/11.1467591.13835786/

5136:

https://www.phillips.com/detail/patek-philippe/195786

5139:

https://www.phillips.com/detail/patek-philippe/210732?fromSearch=5139

5050:

https://www.phillips.com/detail/patek-philippe/224366?fromSearch=5050

5059:

https://collectability.com/product/patek-philippe-officers-case-perpetual-calendar-ref-5059g/

5140:

https://mrwatchley.com/products/patek-philippe-perpetual-calendar-5140g

5940:

https://www.hodinkee.com/articles/patek-philippe-5940g

5327:

https://www.patek.com/en/collection/grand-complications/5327g-001

5320:

https://www.hodinkee.com/articles/patek-philippe-5320g-perpetual-calendar-introducing

5236:

https://www.hodinkee.com/articles/patek-philippe-ref-5236p-001-in-line-perpetual-calendar-a-first-for-patek-introducing

Pocket Watch 725:

https://thekeystone.com/products/patek-philippe-yellow-gold-perpetual-calendar-pocket-watch-725-2

5740:

https://hairspring.com/blogs/finds/5740g-patek-philippe-nautilus-perpetual-calendar

Only Wrist:

https://hairspring.com/products/16018-datejust-birch-wood-dial-yellow-gold

https://hairspring.com/products/1655-explorer-ii-steel

Are regulator dials ugly? Are Lange a credible threat to Patek’s repeaters? What’s the ideal Bond Villain watch? Why do so many watch professionals seem like they don’t even like watches? Erik & Max put out a call to you for your hot takes and controversial opinions. Some were lukewarm, but many were truly controversial and made for excellent discussion. If hot takes aren’t to your taste, this episode concludes with resolutions in watches for the new year. 

Links Mentioned:

Roman Numerals Discussed:

https://hairspring.com/blogs/finds/19019-rolex-oysterquartz-day-date-1

https://www.phillips.com/detail/patek-philippe/HK080423/880

https://hairspring.com/blogs/finds/brown-guilloche-dial-voutilainen-observatoire-1

5374:

https://hairspring.com/blogs/finds/5374p-patek-philippe-minute-repeater-perpetual-calendar

RD2:

https://www.hodinkee.com/articles/audemars-piguet-rd2-royal-oak-perpetual-calendar-ultra-thin-hands-on

5327G:

https://www.patek.com/en/collection/grand-complications/5327g-001

90s IWC:

https://www.unpolishedwatches.com/p/heres-why-im-so-into-90s-iwc-right 

History of the Calatrava:

https://monochrome-watches.com/history-of-the-patek-philippe-calatrava-part-1-reference-96/

Regulator Dial:

https://hairspring.com/blogs/finds/laurent-ferrier-micro-rotor-regulateur-ecole

70s Longines:

https://www.fratellowatches.com/buying-guide-the-best-longines-watches-from-the-1970s/

13ZN:

https://www.acollectedman.com/blogs/journal/longines-13zn-still-collectible

116500:

https://www.hodinkee.com/articles/rolex-daytona-ref-116500ln-review

Only Wrist:

https://hairspring.com/collections/exclusives/products/ur-210s-full-metal-jacket-steel-titanium

https://langepedia.com/a-lange-sohne-tourbillon-pour-le-merite/

https://www.hytwatches.com

The year of 2026 is upon us, but it’s worth pausing to look at some of the great and atrocious things which sold. This episode covers a state of the market through a review of the entire year at auctions, noting specific examples. Erik & Max discuss watches that they wish they’d had the funds to buy, opportunities missed, problem watches/things they’d stay away from, value buys, unreasonable results, and our wildcards. Plus, an Only Wrist for the most significant chronographs of all time. 

Links Mentioned:

Watches We Wish We’d Had the Funds to Buy:

https://www.phillips.com/detail/heuer/191665

https://www.phillips.com/detail/philippe-dufour/226566

https://www.phillips.com/detail/rolex/224005

https://www.monacolegendauctions.com/auction/exclusive-timepieces-38/lot-67

https://www.sothebys.com/en/buy/auction/2025/important-watches-2/reference-6538-submariner-big-crown-james-bond-a

https://www.phillips.com/detail/voutilainen/223968

https://www.alange-soehne.com/us-en/timepieces/lange-1/little-lange-1/little-lange-1-in-750-white-gold-181-038

https://www.sothebys.com/en/buy/auction/2025/important-watches-3/reference-2438-1-a-yellow-gold-perpetual-calendar

Opportunities We Missed:

https://www.christies.com/en/lot/lot-6534101

https://www.phillips.com/detail/piaget/224987

https://www.monacolegendauctions.com/auction/exclusive-timepieces-38/lot-70

https://www.christies.com/en/lot/lot-6534094

https://www.phillips.com/detail/patek-philippe/216658

https://www.phillips.com/detail/audemars-piguet/213832

https://www.sothebys.com/en/buy/auction/2025/important-watches-2/reference-ba-145-022-69-speedmaster-gus-grissom-a

Problem Watches:

https://www.phillips.com/detail/rolex/216213

https://www.monacolegendauctions.com/auction/exclusive-timepieces-36/lot-25

https://www.phillips.com/detail/audemars-piguet/216432

https://www.monacolegendauctions.com/auction/exclusive-timepieces-38/lot-48

https://www.christies.com/en/lot/lot-6558481

https://www.christies.com/en/lot/lot-6567932

https://www.sothebys.com/en/buy/auction/2025/important-watches-part-i-ge2501/reference-6034-a-pink-gold-chronograph-wristwatch

https://www.christies.com/en/lot/lot-6567913

https://www.phillips.com/detail/jaeger-le-coultre/225242

Values:

https://www.phillips.com/detail/vacheron-constantin/223633

https://www.monacolegendauctions.com/auction/exclusive-timepieces-38/lot-7

https://www.sothebys.com/en/buy/auction/2025/fine-watches-6/reference-3147-carrera-dato-45-a-stainless-steel

https://www.sothebys.com/en/buy/auction/2025/important-watches-2/reference-404-032-saxonia-double-split-a-pink-gold

https://www.phillips.com/detail/breguet/210819

Unreasonable Numbers:

https://www.phillips.com/detail/patek-philippe/224435

https://hairspring.com/products/3941j-perpetual-calendar-dore-dial-early-second-series-yellow-gold

https://www.phillips.com/detail/patek-philippe/224804

https://www.sothebys.com/en/buy/auction/2025/important-watches-2/octa-chronograph-ruthenium-a-limited-edition

Wildcard:

https://www.sothebys.com/en/buy/auction/2025/important-watches-3/reference-3945-dore-a-yellow-gold-perpetual

https://www.monacolegendauctions.com/auction/exclusive-timepieces-36/lot-237

https://flightbirds.net/publio-magini-the-sistema-magini/ (History of the Magini Trip)

https://www.sothebys.com/en/buy/auction/2025/important-watches-2/reference-6100-dragon-an-exquisite-and-rare-yellow

Only Wrist:

https://hairspring.com/collections/exclusives/products/5970r-patek-philippe-perpetual-calendar-chronograph-pink-gold

https://hairspring.com/collections/exclusives/products/2915-2-omega-speedmaster-steel

https://hairspring.com/blogs/finds/saatchi-5070p-patek-philippe-chronograph