Patek Philippe’s legendary line of perpetual calendar wristwatches is known for their symmetry, harmony, and timeless elegance. The brand introduced their first self-winding perpetual calendar wristwatch, the reference 3448 in 1962, and the complication is still cherished 60 years later with the present-day references 5327, 5236, and 5320. Launched in 1981, reference 3450 was the successor to reference 3448 – Patek Philippe’s very first perpetual calendar wristwatch to indicate leap years. While aesthetically similar to reference 3448, it most notably indicates the leap year via an aperture at 3:30 on the dial. In addition, its case back is slightly smaller and is fitted with a "tongue", enabling it to be easily opened.

Technically, the model represents one of the pinnacles of watchmaking. It is powered by the caliber 27-460Q, the perpetual (Q: Quantième) upgrade of caliber 27-460 which is considered one of the finest automatic movements of all time. Built atop the same exquisite caliber as the reference 3448, the caliber 27-460 is considered by many connoisseurs, watchmakers, and scholars as one of the finest automatic movements ever produced by any brand.

The present watch, manufactured in 1982, is a rare and early first generation of the reference 3450 fitted with a “red dot” leap year indicator. Earliest examples of the reference featured this "red dot", also known as "bollino rosso", charmingly nicknamed by Italian collectors, to indicate the fourth year of the leap year cycle. Later examples would instead display the Roman numerals I, II, III and finally ‘IV’ for the leap year.

Enhancing its desirability is its exceptional condition. It retains very sharp and well-defined bevels, original, superb satin finishing on the case and on the lugs, and crisp, perfectly preserved hallmarks. The dial is virtually flawless - free from any defects. Furthermore, it retains its original Certificate of Origin, indicating it was initially retailed by famed Italian retailer Gobbi Gioielli.