Hello David,
Thank you for sending in this family heirloom gold pocket watch to mearto.com for an appraisal. I shall attempt to tell you as much as I can about this particular item.
TITLE:
Rare, 18k yellow gold, savonette, keyless, pendant wound and lever set, demi-chronometre, hunting case pocket watch with minute repeat function, Case no. 36602, made by Moulinie (or Moulinier) & Legrandroy, Geneva, Switzerland, circa 1870.
DESCRIPTION:
CASE – (Size not provided) approximately 50-55 mm in diameter, four leaf, keyless, 18k yellow gold hunting case pocket watch with one cover having engraved, stylized, intertwined letters, most likely the initials of the original owner. The interior of the covers are not pictured but should have the Swiss hallmark for solid gold, either the profile of Helvetia (18k) or the Squirrel (14K). There is a fluted ball pendant and round gold bow place at the three position (savonette), opposite the case hinge. There is a gold sliding lever @6 for the repeater function (when put in position will ring the hours, quarter and the minutes). A lever is seen along the edge of the dial near the 19-minute marker which when pulled out is used to set the time on the watch dial.
The cuvette is marked in French (translated), “Demi(Half)-Chronometre, No. 36602, Moulinie & Legrandroy, Geneve, 3 raised (cap) jewels, 6 contra-pivoted (hole) jewels, 14 pivots with rubies, compensated bimetallic balance wheel with a Breguet hairspring”. {Cap jewels are always paired with hole jewels and they are always used with a conically shaped pivot piece. The cap jewel is used to top the hole jewel in order to control the movement of the arbor and prevent the shoulder of the pivot from contacting the hole jewel. In a properly functioning system, the pivot bears on the cap jewel as a pin point on a thin film of oil. Using the combination of a cap jewel and a hole jewel reduces friction and increases performance of the system.}. . .
DIAL- White enameled dial with Roman hours, closed bar outer minute track with red Arabic markers placed every five minutes at the periphery of the dial, subsidiary seconds @6, gilt double-swell Spade hands and the dial is unsigned. . .
MOVEMENT - NOT SHOWN, but most likely a size 19’’’(lignes) movement with 23 jewels, gilt nickel bridge, straight line lever escapement, compensated balance with Breguet hair-spring, pendant wound and lever set, exposed ratchet and crown wheels, minute repeat function located in the movement (usually placed near the case hinge) with two coiled steel gongs at the periphery of the movement struck by one or two silvered hammers. . .
CONDITION – The case shows evidence of mild wear which is expected in a watch of this age. The movement is assumed to be fully functional and clean. The dial is the only area that I can find any defect which affects the final price. There is a hairline fracture at the 57-minute marker and again a larger fracture running between the 20- and 24-minute markers and a third extending off the previous hairline and running to the subsidiary seconds dial. Overall condition is very good.
HISTORICAL:
The firm name of Moulinie & Legrandroy was established and running between c. 1860 and c. 1880. In 1881 the name had been changed to Le Grand Roy & Fils. Before 1860/62 the firm was Moulinier Freres & Cie.
The family name was Moulinier or Moulinie, and they were in the watch and watch case business in Geneva by 1791. The firm name changing frequently over the years which always helps with dating. The Moulinier family originated in France, according to Charles Allix (wrote the text on Carriage Clocks) this swiss firm gave the name ‘Demi-Chronometre’ to this type of watch. As I can understand the reason is that it is simply part chronometer and part repeater pocket watch.
PRICING:
There have not been many of these minute repeaters made by this company or their relatives sold at auction. The minute repeater is the rarest of the several versions of early repeaters in pocket watches. The commonest were the quarter repeaters, then the half quarters, five-minute repeaters and, rarest, the minute repeaters.
In pristine condition this watch could be expected to sell at auction for approximately $7000. In 2018, a boxed example was sold at auction for approximately $6500. With the dial defects, in today's market which demands something close to perfection, I think one should expect about $5000-$5500 as a fair market value.
Retail pricing will be higher of course, perhaps more than two times.
I hope this has been of some help to you.
My best,
David