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

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  • Manufacturer: Patek Philippe
    Year: 1955
    Reference No: 2438/1
    Movement No: 888'163
    Case No: 2'619’202
    Material: 18K yellow gold
    Calibre: Manual, cal. 27SC Q, 18 jewels, stamped three times with the Geneva seal and HOX
    Bracelet/Strap: Crocodile
    Clasp/Buckle: 18K yellow gold pin buckle
    Dimensions: 37mm diameter
    Signed: Case, dial and movement signed
    Accessories: Delivered with a Patek Philippe Extract from the Archives confirming its date of manufacture of the present timepiece in 1955 and its subsequent date of sale in 1963 and a red Patek Philippe presentation box.
    Literature: Reference 2438/1 is illustrated in Patek Philippe Wristwatches by Martin Huber & Alan Banbery, second edition, p. 284.

  • Catalogue Essay

    References 2438/1, with a screw down caseback, and 2497 with a snap on caseback, were launched in 1951 and remained in production until 1963. They were the world’s first perpetual calendars with center seconds. No such complication has been then produced by the Swiss manufacturer until 1993, when reference 5050 was launched.

    Reference 2438/1 is a gem of horological design with its balanced symmetry, spectacular curves, and large case size. It is very similar to that of the iconic reference 2499 second series that was launched about the same time.

    It is believed that only 35 examples of references 2438/1 in yellow gold were produced and is generally divided into two different series:

    - First series, with applied Arabic numerals and feuille hands.

    - Second series, such as the present watch, with applied baton numerals and dauphine hands.

    With its highly complicated movement and sporty waterproof case that was decades ahead of its time, one can only be mind blown by Patek Philippe's thinking out of the box, at a time where it was unimaginable to wear such complicated timepieces whilst partaking in activities requesting intense efforts.

    Giving life to this superb masterpiece is the Patek Philippe caliber 27SC Q, SC for “Secondes Centrales” (central seconds in French) and Q for “Quantième” (date in French). The painstaking hand decoration of the movement is further attested by the Geneva seal stamped three times on it. The movement is further stamped “HOX”, an import mark for watches made for the American market, which is further confirmed as the calendar discs is printed in English.

    The present lot preserved in beautiful condition with the large case, made by the well-known case producer Wenger is not only superb and rare but it remains to date the only Patek Philippe vintage perpetual calendar with a screw down caseback making it a jewel of choice in any collection.

    Sold in 1963 we can definitely assume that the offered perpetual calendar was one of last delivered before the end of the production of Ref. 2438/1 enhancing tis rarity.

  • 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 a Japanese Collector


Ref. 2438/1
A very fine and extremely rare yellow gold perpetual calendar wristwatch with center second, moon phases, screw-down caseback and presentation box

37mm diameter
Case, dial and movement signed

HK$1,400,000 - 3,000,000 

Sold for HK$2,142,000

Contact Specialist

Thomas Perazzi

Head of Watches, Asia
+852 2318 2031

The Hong Kong Watch Auction: XI

Hong Kong Auction 29 November 2020