Patek Philippe - The Hong Kong Watch Auction: XVIII Hong Kong Friday, May 24, 2024 | Phillips

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  • Condition Report

  • Description

    View our Conditions of Sale.

  • Manufacturer: Patek Philippe
    Year: Circa 2005
    Reference No: 3970/2R-001
    Movement No: 3'047'467
    Case No: 2'870'038
    Material: 18K pink gold
    Calibre: Manual, cal. CH 27-70 Q, 24 jewels
    Bracelet/Strap: 18K pink gold integrated Patek Philippe bracelet, max length 175mm
    Clasp/Buckle: 18K pink gold Patek Philippe clasp
    Dimensions: 36mm diameter
    Signed: Case, dial, movement, bracelet and clasp signed
    Accessories: Accompanied by Patek Philippe Certificate of Origin stamped Patek Philippe SA Geneva dated 21st February 2005, additional solid caseback, setting pin, product literature, leather folio, fitted presentation box and outer packaging.

  • Catalogue Essay

    In 1986, Patek Philippe introduced the ref. 3970 as a successor to the long-standing ref. 2499. The ref. 3970 featured an upgraded Lemania-based caliber CH27-70Q, replacing the Valjoux-based movement of its predecessor. While maintaining similar aesthetics, the ref. 3970 had a smaller case diameter of 36mm. It was produced in all four precious metals: yellow gold, pink gold, white gold, and platinum, spanning a total of four series over a production period of 19 years. It is estimated that more than 4,000 examples of the ref. 3970 were made.

    Among the various metals, the present Patek Philippe ref. 3970/2R-001 is noteworthy as it is encased in 18K pink gold, which, along with the white gold variants, is one of the rarest materials used for this reference. The cases for these watches were produced by Ateliers Réunis S.A., as indicated by the Geneva key 28 stamp found inside the caseback. Additionally, a small batch of 3970 examples during production did away with the sculpted lugs and instead featured a "beads of rice" bracelet directly attached to the case.

    The dial layout of the fourth series had a modernized appeal compared to previous series with typewriter fonts at the day and month, baton hands and lapidated indexes. According to the Certificate of Origin, the present example is dated to February 2005, making it one of the last examples of the reference before the end of its production in 2004.

    Offered in excellent condition, the hallmarks stamped on the caseband remain crisp and well-preserved. Fresh-to-the-market, the watch comes with a full set of accessories, including a setting pin and an additional solid caseback with corresponding numbers. With only a handful resurfaced in the auction market, the Patek Philippe ref. 3970/2R-001 is sure to impress discerning collectors who are seeking a timeless and significant Patek Philippe perpetual calendar chronograph bracelet watch.

  • 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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978

Ref. 3970/2R-001
An extremely rare, fine and attractive pink gold perpetual calendar chronograph bracelet watch with moon phases, leap year and 24-hour indication, Certificate of Origin, additional solid caseback, setting pin and presentation box

Circa 2005
36mm diameter
Case, dial, movement, bracelet and clasp signed

Estimate
HK$1,500,000 - 2,500,000 
€180,000-300,000
$192,000-321,000

Place Advance Bid
Contact Specialist

Thomas Perazzi
Deputy Chairman, Watches, Head of Watches, Asia
+852 2318 2031
WatchesHK@phillips.com
 

Gertrude Wong
Head of Sale, Hong Kong
+ 852 2318 2045
gertrudewong@phillips.com
 

The Hong Kong Watch Auction: XVIII

Hong Kong Auction 24 - 25 May 2024