Important Collectors’ Wristwatches, P...

New York, The Grand Havana Room, Sep 20, 2006

LOT 209

?Pink gold 3970 ER" Patek Philippe & Cie, Genève, No. 875694, case No. 2881777, Ref. 3970 ER. Made in the 1990s. Very fine and important, astronomic, water-resistant, 18K pink gold gentleman's wristwatch with round button chronograph, register, perpetual calendar, moon phases and an 18K pink gold Patek Philippe buckle. Accompanied by a certificate.

USD 100,000 - 130,000

EUR 80,000 - 100,000

Sold: USD 94,400

C. Three-body, solid, polished, concave bezel, fluted lugs, transparent screwed-down case back, sapphire crystals. D. Satiné silver with applied faceted bâton indexes, subsidiary ?guilloché? dials for the seconds and the 30-minute register, the days of the month, the 24-hours and the leap year, aperture for the days of the week, the months and the moon phases. Pink gold ?bâton? hands. M. Cal. CH 70/155, stamped with the Geneva Quality Hallmark, rhodium-plated, "fausses-côtes" decoration, 24 jewels, straight line lever escapement, Glucydur Gyromax balance adjusted to heat, cold, isochronism and 8 positions, shock-absorber, self-compensating free-sprung Breguet balance spring. Dial, case and movement signed. Diam. 36 mm. Thickness 13 mm.


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Grading System
Grade:
Case: 1

As new

Movement: 1

As new

Dial: 1-01

As new

HANDS Original

Notes

Ref. 3970/ 3971 (1986-2005) The 3970 was introduced, for Patek Philippe?s 150th anniversary, to replace the successful model Ref. 2499, which had been produced from 1951 to 1985. Thanks to the explosive popularity of collecting vintage Patek Philippe wristwatches during the early 1980s, collectors had discovered the extreme rarity and enduring value associated with these timepieces. In a rare breach of Patek?s legendary secrecy, it was discovered that fewer than 400 pieces of Ref. 2499 timepieces, including the last evolution, the Ref. 2499/100, had been manufactured during the model?s entire production. Patek Philippe also sensed the need for a more modern design of its flagship model, which had only undergone minor design revisions over a 30-year period. Antiquorum?s 1989 thematic auction ?The Art of Patek Philippe?, signaled the start of the company?s growing popularity among watch enthusiasts. Although Patek Philippe had always cultivated a discerning, loyal clientele, it was never a high profile brand. That changed dramatically as affluent individuals began purchasing modern Patek Philippe wristwatches to wear and enjoy. Consequently, thanks to the successful market of the late 1980s, the Ref. 3970 became a ?best seller? for Patek Philippe. Amazingly enough, only a handful of collectors recognized the true scarcity of certain variations for this watch, in particular, the endless possibilities for collecting Ref. 3970 by dial variation or different styled indexes and/or hands.