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  • Manufacturer: Patek Philippe
    Year: 1967
    Reference No: 3448
    Movement No: 1'119'073
    Case No: 319'068
    Model Name: "Padellone"
    Material: 18K yellow gold
    Calibre: Automatic, cal 27-460Q, 37 jewels, stamped twice with the Geneva Seal
    Bracelet/Strap: 18K yellow gold Patek Philippe bracelet, max length 195mm
    Clasp/Buckle: 18K yellow gold Patek Philippe clasp
    Dimensions: 37mm Diameter
    Signed: Case, dial, movement and clasp signed
    Accessories: Accompanied by Patek Philippe Extract from the Archives confirming production of the present watch with bracelet that was replaced during a servicing and its subsequent sale on October 4, 1967. Furthermore accompanied by photocopies of service invoice at Patek Philippe.
    Provenance: Property of the descendant of the original owner

  • Provenance

    Property of the descendant of the original owner

  • Catalogue Essay

    When a previously unknown timepiece is rediscovered by the community, it provides a serendipitous reason for celebration. The idea of finally being able to access a watch which was until then safely tucked away in the deposit box of the person who bought it decades before grants remarkable satisfaction to the vintage watch enthusiast. When the piece, however, is one of the most appreciated models made by one of the most esteemed producers, celebration gives way to sheer excitement. Such is the case of this timepiece: reference 3448, the very first automatic perpetual calendar made in series by Patek Philippe (or any manufacturer, actually). Furthermore, the present specimen is not a standard version of the model, but it features a remarkably attractive bracelet, the Extract confirming it was indeed originally sold with a yellow gold bracelet.

    While the watch’s freshness to market and its bracelet would be enough to entice the most jaded of collectors, the identity of the original owner adds moreover a layer of historical appeal to the watch. This fine timepiece was the property of engineer Juan Francisco Otaola Pavan, one of the most successful Venezuelan civil engineers of all times, and whose name “Dr. J. Otaola P.” is engraved to the back of the piece. As expected from a man of such rigour, he took utmost care of this watch - which was offered to him personally by Mr. Philippe Stern, according to his descendant - and kept it in excellent shape. In fact, during the last service at Patek Philippe in 2000, in order to maintain the freshness and stunning look of the watch, Dr. Pavan demanded a new dial and bracelet to be fitted onto the piece.

    Dr. Otaola was an extremely accomplished civil engineer, active throughout the second half of the past century. He worked mostly on bridges but did not disdain branching off on other kind of constructions. Befitting his passion for timepieces, one must mention that Dr Pavan , also realised the “Torre del Reloj” (clock tower) of Central University of Venezuela. He was posthumously awarded in 2001 the “Premio Construcción” by the Cámara Venezolana de la Construcción - the Venezuelan Chamber of Builders.

    Reference 3448 was launched in 1962 and remained in production for twenty years, before being replaced by its slightly more advanced descendant reference 3450 which features a leap year indication. It was made in yellow, white and pink gold for a total of only 586 pieces. The movement beating inside this landmark model is a masterpiece of engineering with the addition of a perpetual/moonphase module to cal. 27-460, which is the final evolution of cal. 12-600 (the one powering ref. 2526), and universally considered one of the best automatic movements (if not the best automatic movement) of all times.

  • Maker Bio

    Patek Philippe

    Swiss • 1839

    Since its founding in 1839, this famous Geneva-based firm has been surprising its clientele with superbly crafted timepieces fitted with watchmaking's most prestigious complications. Traditional and conservative designs are found across Patek Philippe's watches made throughout their history — the utmost in understated elegance.

    Well-known for the Graves Supercomplication — a highly complicated pocket watch that was the world’s most complicated watch for 50 years — this family-owned brand has earned a reputation of excellence around the world. Patek's complicated vintage watches hold the highest number of world records for results achieved at auction compared with any other brand. For collectors, key models include the reference 1518, the world's first serially produced perpetual calendar chronograph, and its successor, the reference 2499. Other famous models include perpetual calendars such as the ref. 1526, ref. 3448 and 3450, chronographs such as the reference 130, 530 and 1463, as well as reference 1436 and 1563 split seconds chronographs. Patek is also well-known for their classically styled, time-only "Calatrava" dress watches, and the "Nautilus," an iconic luxury sports watch first introduced in 1976 as the reference 3700 that is still in production today.

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Ref. 3448
A very rare, impressive and important yellow gold automatic perpetual calendar wristwatch with moonphases and bracelet

1967
37mm Diameter
Case, dial, movement and clasp signed

Estimate
CHF100,000 - 200,000 
€94,000-188,000
$103,000-206,000

sold for CHF125,000

Contact Specialist

Alexandre Ghotbi
Head of Watches, Continental Europe and the Middle East

41 79 637 1724
aghotbi@phillips.com

The Geneva Watch Auction: XI

Geneva Auction 27 - 28 June 2020