Lot 154

Patek Philippe

Gübelin

An important and extremely rare, unpolished neo-vintage Geneva wristwatch in near mint condition, with double signature, perpetual calendar, moon phase and Roman leap year display

Sold

Among the many legendary models created by the Patek Philippe brand, the reference 3450 has a special position. It is the last of the classic perpetual calendar watches and marks a turning point in the history of Patek Philippe. It is considered one of the most desirable collector’s pieces and a symbol of supreme watchmaking, technological innovation and timeless design.
Reference 3450 was in production from 1981 to 1985 and was the direct successor of legendary reference 3448, which was launched in 1962.
While the 3448 was Patek Philippe’s first automatic perpetual calendar, 3450 came with some significant improvements, such as a modified leap year display in a small window on the dial – an innovation that appeared for the first time with a Patek Philippe perpetual calendar. The watches from the first series had Arabic numerals for the first three years and a red disc for the fourth, the second series featured only Roman numerals. Reference 3450 was the last model with just a perpetual calendar without chronograph, before Patek Philippe added other functions to the complication. Thus the timepiece signifies the end of an era and is of particular historic interest to collectors.
Reference 3450 features a classic elegant design and an extremely sober dial with hardly any graphical elements except the minute track and the writing, making it forever ageless. This example, however, is heavily upgraded by the desirable Gübelin signature at 6 o’clock, which dramatically increases the rarity of this timepiece. Only a handful of reference 3450 watches bearing the Gübelin signature are known.
Inside runs the highly accurate calibre 27-460 QB (Quantième Bissextile), which is a modification of automatic movement 27-460 dating from 1962 with an exceptional quality of finish and accuracy. The perpetual calendar function ensures the correct display of date, day of the week and month, even in leap years – without requiring manual correction up until 2100.
During a short but successful production run of four years, only 248 examples of reference 3450 are estimated to have been produced, which makes it one of the rarest serial-production Patek Philippe perpetual calendars ever. Most watches were produced in yellow gold, with white gold and platinum versions being extremely rare. These small numbers and the historic significance make the 3450 one of the most desirable collector’s watches worldwide. Auction prices have risen continuously over the last decades – well-preserved examples regularly achieve six- or seven-figure sums.
This reference 3450 is a true beauty. The condition of this timepiece is astonishing. The watch comes from the original owner, was hardly ever worn and acquired over time the honey-coloured patina, which is only found with gold watches after decades of minimal use, making it a highly desirable and much sought-after feature among the collectors. The two marks on the left side of the case are deep and legible. The case has sharp and well-defined bevels as well as the original remarkable satin finish on the back of the case and the lugs. The dial is immaculate and without fault. This trophy comes with the original certificate of origin issued by Patek Philippe with Gübelin stamp and sales receipt issued by Gübelin Zurich, dated December 12, 1984. There is also another sales receipt by Gübelin Zurich dated June 2, 1987, documenting the sale of an extra clasp. The original box, a PPC gold pin clasp and a letter written by Patek Philippe, dating from March 25, 1985, explaining the slow response time of day of the week and date displays to the original owner are also part of this lot.
This remarkable, well-preserved timepiece which is also signed by one of the biggest names in the retail world is certainly one of the most important and complete lots of reference 3450 which has been offered at an auction in recent years.