Patek Philippe’s reference 565 is one of the most classic gentleman wristwatches of the 20th century. Released in 1938, the model featured innovative and enduring qualities that today make it a collector’s favorite. These including the two-piece Taubert case (FB stamp) with screw down back, an inner soft iron cover to protect the movement from the adverse effects of magnetic fields, and a more generous case size, compared to the smaller reference 96, which was first released in 1932.

The brand continued to manufacture the model until 1952. Designed for a public with a growing interest in outdoor activities, the reference 565 was waterproof with its screw-down caseback and offered with subsidiary seconds and less frequently, with center seconds. Over the course of time, the caliber was upgraded with first series examples, like the present watch, housing the caliber 12’’’120, while a Victorin Piguet indirect center seconds movement 12-120 SC was introduced in 1939, in 1950 a second series was released with the caliber 12’’’400, as well as the new caliber 27 SC (center seconds).

The present example stands out not only thanks to its rare steel case but also thanks to its well preserved two-tone design featuring Arabic numerals with the outer ring slightly brushed and most silver in nature than the rest of the dial. The long signature is correct for the manufacture date, and the enamel is raised and incredibly strong. The comma between "Patek, Philippe" is present, as is the accent in "Genève" signature.

However, the four words discretely printed above the subseconds counter make this watch truly special. The Serpico y Laino Carracas signature can be found occasionally on the dials of Patek Philippe timepieces, a rare privilege granted by the Geneva brand to its most prominent retailers. So rare is this privilege that the present reference 565 in steel is the only the example known in steel (2 examples exist in gold).