Patek Philippe

• cal. 27-70Q nickel lever movement stamped with the seal of Geneva, 24 jewels, Gyromax balance • opaline white dial, applied white gold Breguet numerals, apertures for day and month, outer minute track with one-fifth minute division, subsidiary dials indicating constant seconds combined with 24-hour, 30-minute register combined with leap year indicator and date combined with moon-phases • platinum cushion-form case, solid case back • case, dial and movement signed • with a Patek Philippe platinum deployant buckle     

An outstanding and rare piece. The movement, the calendar correctors and the chronograph are all functioning at the time of cataloguing, however a service in the future may be recommended. The dial is in excellent cosmetic order with no imperfections to note. The case is in overall very nice condition, with some light surface scuffs to the bezel and profile. The hallmarks to the back of the lugs are strong and easily visible to the naked eye, with some rubbing to the 0.950 mark. The case back bears a partial Patek Philippe service sticker. The strap of this watch contains endangered species; please see the Important Notices for more information. The present lot contains endangered species which is subject to restrictions upon international export. Accordingly, the strap for this item will be removed prior to shipment outside the United States.
"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."

Accompanied by a presentation box, Certificate of Origin and booklets. Also with an Extract from the Archives confirming date of sale on April 18, 1996.

Distribution of the Ref. 5020 began in 1994. It bears the same complications- perpetual calendar and chronograph- as its contemporary Ref. 3970, with a distinctive cushion-form case. Today, it is commonly referred to as the 'television set' in reference to its shape. In a world before commonplace over-sized watches, this reference saw significant commercial resistance in the 1990s due to its perceived large size and as a result very few were made and sold. Production was halted in 2002.

For the 21st century Patek Philippe collector, the watch is now considered an iconic reference ahead of its time and a trophy for any modern wristwatch collection. In 2014, the firm revisited the stylish and bold shape with the perpetual calendar Ref. 5940. 

According to our research, the present lot is one of only four platinum examples of Ref. 5020 with this dial. To the best of our knowledge, it is being offered for the first time at auction. 

An example of Ref. 5020 is illustrated in Banbery, A. & Huber, M., Patek Philippe Watches, p. 309.