Patek Philippe - The Hong Kong Watch Auction: XI Hong Kong Saturday, November 28, 2020 | Phillips

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  • Manufacturer: Patek Philippe
    Year: Circa 2004
    Reference No: 3970EP-021
    Movement No: 3’047’268
    Case No: 4’258’849
    Material: Platinum
    Calibre: Manual, cal. CH 27-70 Q, 24 jewels
    Bracelet/Strap: Crocodile
    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 dated 9th October 2004 stamped Schaap Citroen, Rotterdam, instruction manual, product literature, additional solid caseback, setting pin, hang tag, leather folio, travel case, outer packaging and fitted presentation box.

  • Catalogue Essay

    Perpetual calendar chronograph timepieces have always been closely tied to one manufacture, Patek Philippe. Being the first to introduce the perpetual calendar chronograph wristwatch in the 1940s, the firm garnered much attention when they launched the ref. 1518 and 2499. In 1986, the firm released the ref. 3970 replacing the legendary and coveted ref. 2499. With a production of the reference spanning until 2004, the ref. 3970 was introduced in a total of four series over the years.

    First series (1986 – 1988) – Features snap on caseback, solid for (3970) and glazed for (3971), in production for a very short time. Dial: Satinated silver, rectangular indexes, “feuille” hands.

    Second series (1989 – 1990) – Features screw back case, usually referenced as 3970E or 3971E (“E” for Etanche meaning waterproof). Dial: Satinated silver, rectangular indexes, “feuille” hands, later examples with “Baton” hands.

    Third series (1989 – 1995) – Features screw back case with additional sapphire caseback, (ref. 3971 discontinued), after 1990 (lapilated indexes, matching “baton” hands).

    Fourth series (1994 – 2004) – Features sapphire caseback with additional solid caseback, from 1997 onwards with deployant clasp. Also with examples with “E” or Etanche. Dial: lapilated indexes, matching “baton” hands.

    It is estimated that 4,000 examples of the reference were produced across all series and metals. The present example Patek Philippe ref. 3970EP-021 from circa 2004 belongs to one of the last examples from the fourth series. Powered by cal. CH 27-70 Q, the caliber is indeed based on the legendary Lemania cal. 2310. Offered in single factory sealed condition, the present specimen of the reference is also accompanied by the full set of accessories. This is perhaps one of the most undervalued Patek Philippe references.

  • 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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Property from an important European collector


Ref. 3970EP-021
A very fine and rare platinum perpetual calendar chronograph wristwatch with moon phases, 24-hour, leap year indication, additional solid caseback, Certificate of Origin and presentation box, single sealed

Circa 2004
36mm diameter
Case, dial, movement and clasp signed

HK$625,000 - 1,010,000 

Sold for HK$1,134,000

Contact Specialist

Thomas Perazzi

Head of Watches, Asia
+852 2318 2031

The Hong Kong Watch Auction: XI

Hong Kong Auction 29 November 2020