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Vintage Patek Philippe is on absolute tear on the auction house circuit. Last weekend, two Pateks broke the $1 million threshold at Phillips: a ref. 1518 perpetual calendar chronograph sold for $1.45M and a ref. 570 dress watch went for over $1M. The party continued down the street at Sotheby’s where a ref. 2499 just hammered for a cool $4.3 million today. But what, exactly, is a 2499, and why was someone willing to pay the equivalent of a (quaint) house in Beverly Hills for it?
