Patek Philippe Owned by Empire State Building Contractor Sells for Nearly $300,000

Source: www.phillips.com

A Watch with Outstanding Provenance

Three factors helped drive the remarkable auction result: the watch's age, its exceptionally well-preserved condition and its documented ownership.

Manufactured in 1929, the Art Deco timepiece belonged to Paul Starrett.

The case measures 36.5 × 26 mm and is crafted from yellow gold, an unusually large size for a wristwatch of its period. The watch retains its original, unrestored dial, period-correct bracelet and sharply preserved hallmarks.

Another distinctive feature is the hand-engraved floral decoration running along the sides of the case. The caseback is engraved with the initials "P.S.", linking the watch directly to its original owner.

Paul Starrett and the Empire State Building

Born in Chicago, Paul Starrett and his twin brother William built one of the most successful construction businesses in the United States. Their company, Starrett Brothers and Eken, acted as the general contractor for the Empire State Building and was also responsible for several other major construction projects during the early twentieth century.

During construction, the Empire State Building competed directly with the Chrysler Building for the title of the world's tallest building.

Work began in March 1930 and progressed at an extraordinary pace of approximately four and a half storeys per week. The project was completed in just 410 days, finishing ahead of schedule and within budget.

How the Project Was Completed So Quickly

Several construction methods helped Starrett Brothers and Eken complete the project in record time.

Specialised teams worked simultaneously on different stages of construction, allowing multiple operations to proceed in parallel. Structural steel components arrived on site prefabricated and ready for installation. Construction continued across two shifts, with approximately 3,000 to 4,000 workers involved throughout the project.

Because construction took place during the Great Depression, project deadlines were closely monitored by Paul Starrett. Drawing on his experience from previous projects, he planned solutions to potential problems in advance.

A Watch Purchased During Construction

According to the archival extract accompanying the watch, it was purchased in November 1930, while construction of the Empire State Building was still underway.

The skyscraper officially opened on 1 May 1931. This means Starrett may well have been wearing the watch at the official opening ceremony.

Provenance That Defines Collectability

Provenance is often regarded as one of the most important factors in determining the value of a vintage watch. In the case of this Patek Philippe, its owner may not have achieved widespread fame, but he permanently secured his place in the history of the United States through his role in constructing one of its most iconic landmarks.

For 41 years, the Empire State Building remained the tallest building in the world before it was surpassed by the original World Trade Center.