A Benchmark Returns: Watching the Pour Le Mérite Tourbillon at Phillips This Weekend
A rare white gold PLM hits the auction block — but is this a sign of strength for Lange, or something else entirely?
Opening Note
Hi everyone — just a short one today on a very special watch coming up at Phillips this weekend.
Before we dive in, I want to say a huge thank you to everyone who’s been reading, commenting, and subscribing. And a special thanks to Tony Traina at Unpolished Watches for his words of encouragement— they really do mean the world when you’re just getting started and writing from a place of passion. I’m hoping to keep this free for as long as possible so if you feel like supporting, consider buying me a coffee! Alright — back to the watches.
Why the Pour Le Mérite Still Matters
The Pour Le Mérite Tourbillon (or PLM) is one of the most important watches Lange has ever made. It was part of the original quartet unveiled in October 1994 by Walter Lange and Günter Blümlein — the watches that marked the rebirth of A. Lange & Söhne.
I won’t go deep into the technical history here — Langepedia has already done a fantastic job of that — but the short version is this: it was the world’s first tourbillon with a fusee-and-chain transmission, the most complicated watch Lange had ever made at the time, and the beginning of the “Pour Le Mérite” name that still signals something exceptional in the Lange catalogue.
What’s Coming to Auction — and Why It’s Significant
The PLM comes up for auction occasionally, and collectors pay close attention when it does. It’s become something of a benchmark for the Lange market. Only 200 PLMs were ever made, across all metals:
The breakdown of case metals is as follows:
106 in yellow gold (701.001/751.001)
19 in white gold with a blue dial ( 701.007) – one unique white gold piece with a black dial sold at Christie’s for CHF 437.5k in 2014
24 in rose gold (701.011)
50 in platinum (701.005) – one unique piece with pink gold dial sold at Sotheby’s for CHF 314.5k in 2011; one unique piece at 36.5 mms sold at Dr.Crott for a record €330k in 2012.
1 in steel (yes, really!)
Two of the unique PLMs that have surfaced over the years.
This weekend, Phillips is offering a 701.007 white gold PLM with blue dial. They claim it’s only the second example of this reference to appear at auction — following their own November 2024 sale — but that’s not entirely accurate. Antiquorum sold one back in 2013 for CHF 338,500. (Auction houses do sometimes have selective memories.)
Regardless, this is a rare and meaningful appearance — and for a serious collector, possibly the opportunity of a decade.
A Watch to Celebrate — Or a Warning Sign?
But it’s hard to ignore the timing.
We had seen only one 701.007 hit the market in nearly 30 years. Now we’re seeing two in six months. That doesn’t feel like coincidence.
I’m not trying to be dramatic — but I do think we need to pay attention. Is this a sign that long-term collectors are moving on? Is the broader macroeconomic climate forcing sales that might not have happened otherwise? Is it simply a correction in a market that got a bit too hot? Or is it a coincidence, and the next we see will be in 2040?
Whatever the reason, this sale feels like it might tell us more than just what one watch is worth.
Are Younger Collectors Losing Interest?
I’ve noticed something else lately — and this is purely anecdotal. Among younger Lange collectors (and I count myself in that camp), the PLM doesn’t seem to resonate quite the same way. Maybe it’s because they weren’t around for the 1994 rebirth. Maybe it’s the traditional styling or the smaller case size. Maybe they’re more drawn to the Datograph, or even the Odysseus.
But there does seem to be a shift. The PLM, once the pinnacle, now feels slightly off the radar. And while that might make it ripe for rediscovery… it might also explain why two are showing up at auction in close succession.
So What Would a “Good” Result Look Like?
As mentioned, Last November, a 701.007 sold at Phillips for CHF 470,000. I don’t think this one will top that.
Between softer market sentiment, a drop in overall Lange values, and some economic headwinds, I think clearing CHF 400,000 would be a strong result — one that signals confidence. If it lands somewhere within the CHF 150,000–300,000 estimate range, I suspect it’ll raise a few eyebrows in Glashütte and big Lange collectors might start to feel a bit nervous.
Final Thoughts
The PLM is one of those watches that’s always stuck in my mind as the Lange. It’s serious, it’s technical, it has real history behind it. But honestly, I’m not sure where it sits in the collecting world anymore. This auction might give us a hint.
Maybe it’ll surprise us and smash through expectations — or maybe it’ll show that the next generation of collectors are looking elsewhere. Either way, I’ll be watching closely. It’s still one of the most important watches Lange has ever made, and I think it deserves our attention — even if it’s not topping every Instagram feed anymore.
I’ll update you with what happens after the sale. Thanks for reading.
there is no mystery as to why young collectors are not interested in the plm, they cannot afford it! very hard to cultivate a passion for something you cannot ever see yourself owning.
and the few that can afford to collect at this level will be mostly drawn to patek, ap or rm. those are always the first names on the list, and if you’ve got this much to spend then you never have to move down the list.
as for what the auction result might portend for the lange market, my personal wish is for it to go low and bring the market down. i’d like to buy a fourth lange someday and the cheaper they get, the sooner it will happen.
Again, excellent and thoughtful discussion about the Lange market. Thanks for that