NEW YORK CITY — A new world record for a Ref. 2526, made of any precious metal, was set May 1 in Heritage Auctions’ watches and fine timepieces auction when a rare Patek Philippe, Ref. 2526P, Calatrava with first series enamel dial, retailed by Tiffany & Co., circa 1954 sold for $642,500. The 556-lot auction, with 93.2 percent of all lots sold, finished with $3,715,166 in total sales.

This fresh-to-market Calatrava, with an estimate of $300,000, is one of just six platinum 2526 watches known. That limited number, coupled with the fact that it is the only known example with both Patek Philippe and Tiffany & Co. signatures makes it possibly the rarest Patek Philippe Ref. 2526 ever offered at auction, according to Heritage Auctions Director of Timepieces Jim Wolf.

“This is an extraordinary watch,” Wolf said. “But having the dual Patek Philippe and Tiffany & Co. signatures means it might be the only one like it in the world, which makes it extremely appealing to the most serious collectors.”

The price, with buyer’s premium, as reported by the auction house. A full review of the auction will appear in a future issue.