Patek Philippe - The Geneva Watch Auction: XVII Geneva Saturday, May 13, 2023 | Phillips

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  • Manufacturer: Patek Philippe
    Year: Circa 2015
    Reference No: 3970EP-046
    Movement No: 3'932'399
    Case No: 2'900'976
    Material: Platinum
    Calibre: Manual, cal. 27-70, 24 jewels
    Bracelet/Strap: Alligator and Leather
    Clasp/Buckle: Platinum Patek Philippe deployant clasp
    Dimensions: 36mm Diameter
    Signed: Case, dial, movement and clasp signed
    Accessories: Accompanied by Patek Philippe Certificate of Origin stamped Boodles, numbered hang tag, setting pin, numbered additional caseback, portfolio with photo, product literature, presentation box and outer packaging.

  • Catalogue Essay

    Freshly opened from its original Patek Philippe factory seal, the present reference 3970 with special dial (reference 3970 with dial code 046) is not only cased in platinum, but also features a beautiful inky black dial adorned with a Breguet numeral at 12 o'clock and additional tachymeter scale, which is confirmed by the Certificate of Origin. The third of its kind and the first freshly-unsealed example to ever appear at auction, this timepiece was specially made for the 2015 Patek Philippe Watch Art Grand Exhibition at the Saatchi gallery in London.

    With over 400 exceptional timepieces on view, the 2015 Patek Philippe Watch Art Grand Exhibition was at the time the largest ever overseas Patek Philippe exhibition. To celebrate the momentous occasion, Patek Philippe for the first time ever publicly released a selection of previously discontinued pieces with special dials. Such watches were only granted to Patek Philippe's most trusted and exclusive clientele. Today, pieces from this momentous exhibition are considered trophy pieces due to their rarity and historical importance within the history of Patek Philippe.

    Fresh to the auction market, the present watch was brand new and double sealed originally. It was only unsealed on January 17, 2023 for the purpose of shipping the timepiece. A video of the unsealing of the timepiece is available to view, and the timepiece is also accompanied by a signed letter from Phillips' in-house counsel attesting of this. As such, it is a study of originality, showing how a reference 3970 should look when it is brand new, from the curves on the lugs, to the fluting and all the hallmarks - all are original, as if the timepiece left the Patek Philippe yesterday.

    It is furthermore accompanied by its original accessories including the Certificate of Origin, setting pin, additional numbered caseback and portfolio photograph.

    Launched in 1986 and in production until approximately 2004, reference 3970 replaced reference 2499. Both models share certain features such as pump pushers and downturned fluted lugs. Reference 3970 replaced the Valjoux movement of its predecessors with a heavily modified Lemania 2310 ébauche called CH 27-70Q. Furthermore, two new indications were added to reference 3970: a leap year indication and a 24 hour hand.

    Reference 3970 underwent three significant transformations. While the first series featured a snap-on caseback, the second series displayed baton markers, feuille hands and a screw back. It was produced concurrently with reference 3971 which had a snap-on sapphire back. Finally the third series merged references 3970 and 3971 and offered both sapphire and solid screw-down case backs. This example is offered with both its sapphire caseback and solid numbered platinum caseback.

  • 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. 3970EP-046
A highly rare and like-new platinum perpetual calendar chronograph wristwatch with moonphases, black dial, Breguet numeral at 12 o'clock, tachymeter scale, original certificate, additional caseback and fitted presentation box, made for the 2015 Patek Philippe Watch Art Grand Exhibition at the Saatchi gallery in London and one of three known

Circa 2015
36mm Diameter
Case, dial, movement and clasp signed

CHF300,000 - 600,000 

Sold for CHF571,500

Contact Specialist

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

+41 79 637 17 24

Tiffany To
Head of Sale, Geneva

+41 79 460 55 88

The Geneva Watch Auction: XVII

Geneva Auction 13 - 14 May 2023