Patek Philippe - The Geneva Watch Auction: XVI Geneva Saturday, November 5, 2022 | Phillips

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  • Manufacturer: Patek Philippe
    Year: 2002
    Reference No: 3970EP-027
    Movement No: 3'046'662
    Case No: 4'177'112
    Material: Platinum
    Calibre: Manual, cal. 27-70, 24 jewels
    Bracelet/Strap: Leather
    Clasp/Buckle: Stainless steel Patek Philippe pin buckle
    Dimensions: 36mm Diameter
    Signed: Case, dial and movement signed
    Accessories: Accompanied by 2nd caseback, setting pin, Patek Philippe Certificate of Origin, product literature and leather wallet. Furthermore delivered with Patek Philippe Extract from the Archives confirming production of this watch with "semi-gloss black dial, white gold sword-shaped indexes" in 2002 and its subsequent sale on December 13, 2002

  • Catalogue Essay

    Launched in 1986 and in production until 2004, reference 3970 was a proud heir of two other Patek Philippe perpetual calendar chronographs: references 1518 and 2499 - and is most probably one of the brand’s most iconic watches of the modern era.

    With this reference came a number of introductions to the line, none more important than its new movement.

    Built using the world famous Lemania 2310 as its base, the calibre CH 27-70Q was, heavily modified to match Patek Philippe’s extremely high standards in terms of precision, reliability and finishing. It also introduced new features that proved extremely popular with collectors.

    Most notably, this was the first Patek Philippe perpetual calendar chronograph to indicate leap years, and the first to add a 24-hour chronograph hand. Another noteworthy modification is the slight reduction of the diameter. Despite it’s more complex mechanism, the reference 3970 represented the first drop in size in the perpetual calendar chronograph family, from 37.5mm down to 36mm.

    The reference was divided into four series: the first series featured a snap on caseback, with applied gold sword indexes and feuille hands. The second series featured a screw-down, solid caseback, with the hallmarks stamped on the outside of the lugs. The third series featured a sapphire display back along with a screw-down solid caseback like the present example. The Fourth series is identical to the 3rd Series but the movemnet numbering system changed.

    Made in yellow, pink and white gold as well as in platinum, the present example is a representative of the latter family. It is fitted with a highly attractive black dial featuring sword indexes - fully confirmed by both Extract and Certificate. This style is a much rarer iteration than the more flamboyant diamond-set numerals, the style usually found on black-dial 3970P.

  • 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-027
A very attractive and rare platinum perpetual calendar chronograph wristwatch with moonphases, black baton indexes dial, additional caseback, setting pin and certificate of origin

36mm Diameter
Case, dial and movement signed

CHF100,000 - 150,000 

Sold for CHF163,800

Contact Specialist

Alexandre Ghotbi
Head of Watches, Continental Europe and the Middle East
+41 22 317 81 81

Tiffany To
Head of Sale, Geneva
+41 22 317 96 63

The Geneva Watch Auction: XVI

Geneva Auction 5 - 6 November 2022