A spectacular example of the Patek Philippe Ref 5004P holds the highest estimate in Heritage Auctions' May 21 Watches and Fine Timepieces Signature Auction in New York.

Heritage's estimate seems fair, with another example selling for $265,838

The platinum wristwatch will sell with a $250,000-300,000 estimate. It will be sold complete with its original presentation box, all tags and papers, a large leather bound portfolio and certificate of origin.

The estimate given at Heritage Auctions seems to be accurate, with another example selling at Christie's in 2011 for $265,838.

Reference 5004P features a split-seconds chronograph, registers, perpetual calendar, moon phases, leap year and 24 hour indication, making for an extremely complicated watch. Its face is made from platinum, while the strap is made from black hand-stitched leather.

Also selling at Heritage is a rare Tiffany & Co pocket watch with the movement attributed to Louis Audemars. It was produced circa 1873, just two years before the establishment of Audemars' famous brand Audemars Piguet.

The timepiece has a highly unususal combination of complications, boasting a rattrapante chronograph and quarter second jump, as well as a time train and repeating element of superior quality. Made from 18k yellow gold, it is expected to make $40,000-50,000.

Paul Fraser Collectibles has this Longines Olympic Series watch for sale, a classic design from one of the oldest Swiss watchmakers.