Lot 2371
  • 2371

Patek Philippe

Estimate
1,100,000 - 1,800,000 HKD
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Description

  • A FINE AND RARE PINK GOLD CUSHION-FORM PERPETUAL CALENDAR CHRONOGRAPH WRISTWATCH WITH MOON-PHASES AND REGISTERS REF 5020R MVT 3045040 CASE 2956221 CIRCA 1994
  • dimensions 37 x 36 mm
• cal. 20-70Q manual winding movement stamped with the seal of Geneva, 24 jewels • silvered dial, 18k pink gold applied Breguet numerals, apertures for day and month, subsidiary dials indicating constant seconds combined with 24-hour, 30-minute register combined with leap year indicator and date combined with moon-phases • 18k pink gold cushion-form case, snap-on sapphire crystal display back • case, dial and movement signed • with an 18k pink gold Patek Philippe buckle

Condition

Manual winding movement, perpetual calendar and chronograph function in working order when cataloguing. Dial is in very good condition, nice and clean. Case with a few light surface scratches and minor light scuffs. Strong hallmarks. Buckle with light wear. Overall in good condition. Please note that the movement has not been tested for the accuracy of time keeping and a service might be required at the buyer's expense. **The strap of this wristwatch is made from an endangered species, please refer to important notices for further information**
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. All dimensions in catalogue descriptions are approximate. Condition reports may not specify mechanical replacements or imperfections to the movement, case, dial, pendulum, separate base(s) or dome. Watches in water-resistant cases have been opened to examine movements but no warranties are made that the watches are currently water-resistant. Please note that we do not guarantee the authenticity of any individual component parts, such as wheels, hands, crowns, crystals, screws, bracelets and leather bands, since subsequent repairs and restoration work may have resulted in the replacement of original parts. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue. In particular, please note it is the purchaser's responsibility to comply with any applicable import and export matters, particularly in relation to lots incorporating materials from endangered species.NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

**Please be advised that bands made of materials derived from endangered or otherwise protected species (i.e. alligator and crocodile) are not sold with the watches and are for display purposes only. We reserve the right to remove these bands prior to shipping.

Important Notice regarding importation into the United States of Rolex watches
Sotheby's cannot arrange for the delivery of Rolex watches to the United States because U.S. laws restricts the import of Rolex watches. The buyer or a designated agent may collect the property in the country of sale."

Catalogue Note

With a Patek Philippe interchangeable 18k pink gold case back, setting pin and an Extract from the Archives.

Patek Philippe Ref. 5020 was introduced in 1994 as an alternative to the 3970.  Powered by caliber CH 27-70 Q "Nouvelle Lemania" base movement, it was fitted in cushion-form case with Breguet numerals. Because of its unusual shape, it was easily distinguished from other Patek Philippe watches and was soon referred to as the "TV watch". It takes a unique position in the production history of Patek Philippe perpetual calendar chronographs.

The design was ahead of its time, collectors were not thrilled with the shape and look of this reference when it was first launched, therefore it was quickly discontinued in 2002.  Available in all precious metals, there was a very limited number produced due to a lack of interest. According to our research, only a very small number of this reference were cased in pink gold.  After its time of production ended, this watch has begun to be appreciated and fallen back into favor with collectors.  In fact, it was so well liked in the secondary market that Patek Philippe has decided to introduce the perpetual calendar version Ref. 5940 in 2010.  It was considered the revival of the "TV watch".

The model is illustrated in Patek Philippe Wristwatches by Martin Huber & Alan Banbery, second edition, p. 309.