Patek Philippe - The Hong Kong Watch Auction: XVI Hong Kong Wednesday, May 24, 2023 | Phillips
  • Manufacturer: Patek Philippe
    Year: 1985
    Reference No: 3450
    Movement No: 1’119’776
    Case No: 2’808’554
    Model Name: Padellone
    Material: 18K yellow gold
    Calibre: Automatic, cal. 27-460QB, 37 jewels
    Bracelet/Strap: Crocodile
    Clasp/Buckle: 18K yellow gold Patek Philippe pin buckle
    Dimensions: 37.5mm diameter
    Signed: Case, dial, movement and buckle signed
    Accessories: Accompanied by undated Patek Philippe Certificate of Origin stamped Mamic Pero Croatia, setting pin, hang tag, additional leather strap, fitted presentation box and outer packaging. Further delivered with Patek Philippe Extract from the Archives confirming the present timepiece’s date of manufacture in 1985 and its subsequent date of sale on 11th March 1985.
    Provenance: Christie’s, Geneva, 15th May 2017, Lot 140

  • Provenance

    Christie’s, Geneva, 15th May 2017, Lot 140

  • Catalogue Essay

    The ref. 3450 was launched in 1981 and succeeded the ref. 3448 as the next in line in the family of Patek Philippe automatic perpetual calendar wristwatches. Adhering strongly to the design codes of its predecessor, it discretely features an inconspicuous aperture at 4 o’clock that indicates the leap year without disturbing the beautiful proportions of the otherwise clean canvas. The first series displays the leap years with a simple red disk and Arabic numerals, while the second, as per the present example, are fitted with Roman I, II, III and IV leap year indication.

    Before the ref. 3450, earlier perpetual calendar watches required a rigorous synchronization procedure to manually identify the leap year before advancing to the current year in the cycle. The present reference was the inaugural serially produced model with a leap year indication, equipped with an updated, foolproof calendar setting mechanism. In addition, its case back is slightly smaller and fitted with a "lip" allowing its wearer to easily access the movement if needed.

    Drawing from the ref. 3448 which dates back to 1962, the case design of this reference is an ode to the timeless overall aesthetic, featuring a clean uncluttered dial coupled with a sculpted case defined by straight, angular lugs. Framed in a distinctively large, sloped bezel, the polished and satin-finished case resembles a “big pan”, resulting in its famous Italian nickname, the “Padellone”.

    Building upon the highly regarded cal. 27-460, the ref. 3450 is driven by the upgraded cal. 27-460QB that incorporates a perpetual calendar function (Quantième Bissextile) into the original automatic movement. This calibre represented the final but almost unknown evolution of the famous cal. 12-600, Patek Philippe’s first automatic movement from 1953, made for the Calatrava. While waiting for Rolex’s patent on the automatic rotors to expire, the firm was quietly redesigning their in-house self-winding movement that eventually outperformed its ancestor. After decades of R&D, the new and improved cal. 27-460 was finally introduced and the cal. 27-460QB certainly attests to the firm’s mechanical prowess as the most complex variant of the last evolution of this highly progressive vintage automatic movement.

    Having enjoyed a short but sweet four-year production run, only an estimated 248 examples of the yellow gold (with two white gold examples) ref. 3450 has been identified, rendering it as one of the rarest Patek Philippe perpetual calendar references ever manufactured in series.

    With the ref. 3450 known to be discontinued in 1985 to welcome the launch of the ref. 3940 perpetual calendar, the present timepiece manufactured on 11th March 1985 could very likely be part of the final batch of the production of the shortly lived reference. Through research, it is believed that the present example is the 94th publicly known in the market from the 2nd series in yellow gold.

    A remarkable ‘time-capsule’ condition timepiece, the present ref. 3450 exhibits razor-sharp bevels from the bezel down to all lugs, even better, the two hallmarks on top are deep and crisp like it was stamped yesterday. Ticking all the boxes and delivered with its Certificate of Origin and complete set of accessories further elevates its attractiveness as one of the highly sought-after collectible of today.

  • 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 Asian Collector

Σ882

Ref. 3450
An extremely rare and exceptionally well-preserved yellow gold perpetual calendar wristwatch with moon phases, leap year indication, Certificate of Origin, and presentation box

1985
37.5mm diameter
Case, dial, movement and buckle signed

Estimate
HK$1,600,000 - 3,150,000 
€185,000-364,000
$205,000-404,000

Sold for HK$2,921,000

Contact Specialist

Thomas Perazzi
Head of Watches, Asia
+852 2318 2001
WatchesHK@phillips.com

The Hong Kong Watch Auction: XVI

Hong Kong Auction 24 - 25 May 2023