Patek Philippe - The New York Watch Auction: EIGHT New York Saturday, June 10, 2023 | Phillips

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  • Manufacturer: Patek Philippe
    Year: 1990
    Reference No: 3970E
    Movement No: 875’525
    Case No: 2’860’488
    Material: 18K yellow gold
    Calibre: Manual, cal. CH 27-70 Q, 24 jewels
    Bracelet/Strap: Crocodile
    Clasp/Buckle: 18K yellow gold Patek Philippe buckle
    Dimensions: 36mm Diameter
    Signed: Case, dial, movement and buckle signed
    Accessories: Accompanied by Patek Philippe Extract from the Archives confirming production of the present watch in 1990, and its subsequent sale on April 9th, 1990. Further accompanied by a later Patek Philippe self-winding presentation box and setting pin.

  • Catalogue Essay

    Patek Philippe’s reference 3970 evolved from a line of important and iconic perpetual calendar chronograph wristwatches, which first began in 1941 with the reference 1518. Launched in 1986 as the replacement for the reference 2499, the 3970 featured a heavily modified Lemania-based movement over the Valjoux-based calibers used in the earlier 1518 and 2499 references. Both models shared pump pushers and down turned stepped lugs, however the 3970 used a 36mm case with a decidedly modern appeal.

    The reference was divided into three series: the first series featured a snap on caseback, with applied gold baton indexes and feuille hands. The second series, like the present watch, still used feuille hands but featured a screw-down, solid caseback, with the hallmarks stamped on the outside of the lugs. The third series would use baton hands, and a sapphire display back, along with including a second, screw-down solid caseback. The letter E in 3970E represents "étanche" or "water-resistant". The inside case back is furthermore engraved with the reference number and the case number.

    The present, second series 3970E is fresh-to-the-market, and is remarkably well-preserved. The case, in our opinion, remains unpolished with strong fluting to the lugs, and crisp gold hallmarks on the lugs and case back. Highly sought after, this perpetual calendar chronograph from 1990 also has a flawless dial which is sure to appeal to the most discerning connoisseurs. The reference 3970E has become highly sought after, and this lovely example will impress collectors seeking a superb example of Patek Philippe’s iconic perpetual calendar chronograph models.

  • 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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Σ56

Ref. 3970E
A rare and very well-preserved yellow gold perpetual calendar chronograph wristwatch with moon phase and Extract from the Archives

1990
36mm Diameter
Case, dial, movement and buckle signed

Estimate
$50,000 - 100,000 
CHF45,000-90,000
€46,200-92,400
HK$391,000-782,000
S$67,200-134,000

Sold for $127,000

Contact Specialist

Paul Boutros
Head of Watches, Americas
+1 (212) 940-1293
WatchesNY@Phillips.com
 
Isabella Proia
Head of Sale, New York
+1 (212) 940 1285
iproia@phillips.com

The New York Watch Auction: EIGHT

New York Auction 10 - 11 June 2023