Reference 565 was Patek Philippe's first large-sized water resistant watch, featuring a two-piece case with a dust cap and screw down case back. First launched in 1938, the reference was produced predominantly in yellow gold, and rarely in pink gold or stainless steel. The cases were manufactured by Taubert, with the inside case back bearing the case maker mark, number 11, within a key. Since the beginning on the 19th century, Taubert specialized in producing waterproof wristwatches and pocket watch cases.

The present watch, cased in pink gold, features beautiful pink gold Breguet numerals on a silvered dial, which is confirmed by the Extract from the Archives. It furthermore features indirect sweep center seconds. This ébauche was the result of a collaboration between Victorin Piguet and Patek Philippe, where the center seconds mechanism was ingeniously added to the existing 12'''120 "subsidiary seconds register" movement.

The long signature is correct and free of losses. Most unusual and striking are the spade hands, which gives the watch a striking and modern appearance.

The case is furthermore preserved in very original condition. The bezel and lugs remain robust in their proportions, and the watch retains a strong hallmark to the band and the edge of the lug, attesting to its excellent state of preservation.

Research shows that the present watch is the second known pink gold example to feature pink Breguet numerals and spade hands, highlighting the rarity of the watch.