Patek Philippe - The Geneva Watch Auction: XIII Geneva Saturday, May 8, 2021 | Phillips

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  • Manufacturer: Patek Philippe
    Year: 1977
    Reference No: 3448
    Movement No: 1'119'509
    Case No: 332'867
    Model Name: "Padellone"
    Material: 18K yellow gold
    Calibre: Automatic, cal. 27-460Q, 37 jewels, stamped twice with the Geneva Seal
    Bracelet/Strap: Leather
    Clasp/Buckle: 18K yellow gold PPCo pin buckle
    Dimensions: 37.5mm Diameter
    Signed: Case, dial, movement and buckle signed
    Accessories: Accompanied by Patek Philippe Extract from the Archives confirming the production of the watch in 1977 and its subsequent sale on April 4, 1978, further accompanied by Extract from Gübelin Registers confirming watch was sold on June 5, 1980.

  • Catalogue Essay

    The groundbreaking reference 3448, launched in 1962, was the world's first self-winding perpetual calendar wristwatch. It replaced the earlier, manually-wound references 1526 and 2497.

    This model incorporates design elements absolutely typical of the 1960s with its angular lugs and taught lines. Historically, it is remarkable as it is one of the very few complicated models which Patek Philippe kept producing even during the quartz crisis of the 1970s: it was in fact made from 1961 to 1981, when it was retired in favor of its sibling ref. 3450 (very similar, with some minor differences in the case construction, and with the leap year indication).

    The movement is based on what is universally recognized as one of the greatest - if not the greatest - automatic movement ever designed: cal. 27-460 (which is the final evolution of historical cal. 12-600AT), upgraded of course with a perpetual movement to become cal. 27-460Q (Q for Quantième: perpetual).

    The design is defined by a very futuristic case architecture and an extremely clean dial, without virtually any kind of graphic addition save for the minute divisions and the signature. Fully incorporating design elements typical of the time, it is defined by sharp, angular shapes - a completely different approach to case architecture than the smooth curves found on other historical pieces such as reference 2499 and 1518.

    Four series are known for the reference: early examples feature small calendar ring, indexes closer to the center of the dial and engraved/enameled minute divisions; the second series introduces beady minute divisions; the third series maintains the beady divisions but introduces the large numerals for the date rings and indexes closer to the outer edge of the dial, and finally the fourth series - exemplified by the present timepiece - features printed minute divisions.

    The present example’s desirability is heightened by the Gübelin signature at 6 o’clock, making it only the 12th reference 3448 with the Gübelin signature to appear on the market so far.

    Originally based in Lucerne, Gübelin is known for drawing a line inside the caseback of the watches sold through their premises to indicate the date of purchase and to allow a record of service history. As one could expect, this watch displays this mark and is further accompanied by an extract from the Gübelin registers confirming the watch was bought from them and that the dial was signed by their name.
    In overall very attractive condition, the case has developed a pleasing and eye catching oxidation, proof that it has not been worn for quite a long time.

  • Artist Biography

    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 fine, rare and important yellow gold perpetual calendar wristwatch with moonphases, retailed by Gübelin

37.5mm Diameter
Case, dial, movement and buckle signed

CHF120,000 - 200,000 

Sold for CHF226,800

Contact Specialist

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

41 79 637 1724



The Geneva Watch Auction: XIII

Geneva Auction 8 - 9 May 2021