Patek Philippe Gondolo Pocket Watch

Inventory number: PW1809046

Made in Switzerland circa 1907, 52mm, 18K gold open-face case. Patek Philippe made for Gondolo & Labouriau Rio-de-Janeiro, a spectacular Chronometro Gondolo movement, 9K gold wheel train, equilibrated straight-line lever escapement. 

Historical Background

The Gondolo collection was named after the famous retailer in Rio de Janeiro, Gondolo & Labouriau, with whom Patek Philippe enjoyed a strong and successful business relationship between 1872 and 1927. The Gondolo collection launched in 1993 was inspired by this highly styled and historic predecessor that was sold in Brazil.

The retailer devised a brilliant marketing scheme to attract members to its collecting clubs — a selling strategy called the ‘Plano do Club Patek Philippe System’. To be a member of Gondolo’s collecting club in the early 20th century would mean that they have a certain status in Brazilian society. So how does this strategy work？ Here is the hook: Each member of the 180-person club would commit to buying a pocket watch with a retail price of 790 Swiss Francs. They would be required to make a 10-Franc payment every week for 79 weeks until the watch was paid for in full. Gondolo held 79 consecutive weekly lottery draws, in which the lucky winners were released from their future payment responsibilities. For example, the first weekly ‘winner’ would only pay 10 Francs for his watch, the second winner, only 20 Francs, and so on. The remaining 101 members would pay full price for their watches.

In celebration of the enduring relationship between Patek Philippe and Gondolo & Labouriau, F. Santini’s 'Patek waltz’ (from circa 1912) was played at the Gondolo Gang club festivities. Obviously, this strategy was so succussed, and sales were so spectacular that in Brazil, 'Patek' even became a substitute for the noun 'watch'; instead of buying a watch, you bought a Patek - even if it wasn’t a Patek Philippe at all.

This bond resulted in the creation of timepieces - designed exclusively for the Brazilian retailer - named the “Chronometro Gondolo” between 1902 to 1927. The collection initially consisted only of pocket watches, before the first wristwatches appeared in the 1920s.

At a time when Europe struggled with lean years and faced a World War, it was Gondolo & Labouriau alone who retailed close to a third of the entire production of Patek Philippe watches.