Patek Philippe - The New York Watch Auction: NINE New York Saturday, December 9, 2023 | Phillips
  • Manufacturer: Patek Philippe
    Year: 1996
    Reference No: 3970E
    Movement No: 3’045’441
    Case No: 2’994’037
    Material: Platinum
    Calibre: Manual, cal. 27-70 Q, 24 jewels
    Bracelet/Strap: Crocodile
    Clasp/Buckle: Platinum Patek Philippe pin buckle
    Dimensions: 36mm Diameter
    Signed: Case, dial, movement, and buckle signed
    Accessories: Accompanied by Patek Philippe presentation box, additional solid caseback, white gold setting pin, and later Patek Philippe hang tag. Further accompanied by Extract from the Archives confirming production of the present watch in 1996, and its subsequent sale on July 23rd, 1996.

  • Catalogue Essay

    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. The 36mm diameter case had a decidedly modern appeal with the dial including both leap year and 24-hour indication for the first time. It is estimated that throughout its course of production over 4,000 examples of the reference were produced in yellow gold, pink gold, white gold, and platinum chronographs across a total of four series with production spanning over 19 years. The model was modified during its production and today can be classified in one of four series:

    First series (1986 – 1988) – Features a snap back case, feuille hands and rectangular indexes.

    Second series (1987 – 1990) – Features a solid screw-back case “E – Etanche,” feuille hands and baton indexes.

    Third series (1989 – 1995) – Features a solid screw back case “E – Etanche” with an extra sapphire caseback, baton hands, and lapidated indexes.

    Fourth series (1994 – 2004) – Same configuration as the third series however there is a change in serial number ranges for the movement and case numbers, and from 1997 onwards sold with a deployant clasp.

    The present third series example is fresh to the market and is presented with its additional hard caseback, presentation box and setting pin. The reference 3970E has become highly sought-after, and this lovely example will impress collectors seeking one 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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Σ76

Ref. 3970E
A rare and well-preserved platinum perpetual calendar wristwatch with moon phase, additional solid caseback, and presentation box

1996
36mm Diameter
Case, dial, movement, and buckle signed

Estimate
$80,000 - 160,000 
CHF72,000-144,000
€74,900-150,000
HK$625,000-1,250,000
S$109,000-218,000

Sold for $139,700

Contact Specialist

Paul Boutros
Deputy Chairman and 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: NINE

New York Auction 9 - 10 December 2023