The Reference 2438/1 stands as one of Patek Philippe's most significant creations. With only 60-70 pieces crafted in yellow and pink gold, it holds the distinction of being the scarcest perpetual calendar model ever produced by the brand, dwarfing the numbers of better-known references like the reference 1518 and 2499, which saw approximately 281 and 349 examples respectively.
The world’s first perpetual calendar wristwatch with centre seconds, along side its sibling reference 2497 with a snap on caseback, its rarity is mainly attributed to its unconventional position in Patek's production line. The brand was renowned for its high-end, intricate timepieces, not for its tool watches. Consequently, the concept of a heavily priced gold perpetual calendar watch with waterproof capabilities seemed incongruous to their clientele.
An exemplar horological design, characterised by its harmonious symmetry, striking curves, and generous case dimensions, reference 2438-1 also further marked the debut of the world's first serially produced waterproof perpetual calendar wristwatch.
Believed to have been produced in only 35 examples in yellow gold with 26 having already appeared to the market, the reference 2438-1 can be categorised into two distinct series: the first with applied Arabic numerals and feuille hands, and the second, exemplified by the present watch, featuring applied baton numerals and dauphine hands.
It is interesting to note that the addition of center seconds necessitated the development of a totally new movement, as retrofitting the existing cal. 13’’-130 present on the reference 2499 was not possible. Patek Philippe thus utilized 179 consecutively numbered calibers 27SC (888’000 to 888’178), to create the caliber 27SCQ (Second au Centre Quantième).
Remarkably, the present watch boasts an interesting feature only seen once before on a reference 2438-1 previously sold at Phillips Geneva in November 2023 (lot 93) two movement and case numbers away from the present example. Its Geneva Seal-marked movement is stamped not once or twice, but three times with the Seal. This anomaly, possibly part of a batch, adds an intriguing dimension to the timepiece, appealing to discerning connoisseurs.
Offered in excellent overall condition and possessing unparalleled allure, this fresh to the market reference 2438-1 represents the dawn of waterproof perpetual calendars and remains the rarest perpetual calendar model ever serially produced by the brand. It is destined for a place of utmost prominence in the most distinguished vintage watch collections.