House clearance Patek Philippe watch sells for £59k

A "extremely rare" watch which was found tucked away in a deceased mother's jewellery box has fetched £59,000 at auction.

The 1930s Patek Philippe wristwatch was discovered amongst items of jewellery at a house in Camborne, Cornwall during a house clearance.

The watch was taken to Hansons Auctioneers who estimated it was worth between £5,000-£10,000, but the item received bids from across the world and went for nearly 12 times the lower guide price to a buyer from Hong Kong.

Darren Ashley, senior valuer at Hansons Cornwall said after examination he knew they "had something extremely rare".

Ashley said: "Patek Philippe produced very few stainless steel watches during this period and that rarity makes surviving examples incredibly desirable to collectors."

He said what he loved most about the item was its "mechanical perfection".

"This was a watch dating back around 90 years which had spent decades within the same Cornish family and, when it was placed in my hands, it was still finely ticking away," he said.

The auctioneers said it had attracted potential buyers from America, Japan, China, Saudi Arabia and the UK.

Hansons said its owner had always told her daughter she possessed a valuable watch, and had even made a note in her 2011 diary referring to an expensive timepiece she owned.

It said three members of the family were present at the auction on Tuesday.

Charles Hanson, owner of Hansons Auctioneers, said the watch "demonstrated why inherited possessions should never be dismissed without expert advice".

"Never overlook what is tucked away at home," he said.

"This little watch had passed quietly through generations of a Cornish family, its late owner knowing she had something valuable but perhaps never imagining quite how sought-after it would become."

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