Patek Philippe

Patek Philippe

Reference 5016 ‘Second Series’

A pink gold minute repeating perpetual calendar tourbillon wristwatch with retrograde date, moon phases and leap year indication, Circa 2002

Dial: silvered

Calibre: cal. RT0 27 PS-QR mechanical, 28 jewels 

Movement number: 1’905’075

Case: 18k pink gold, snap on sapphire crystal display back

Case number: 4’188’364

Closure: black Patek Philippe alligator strap and 18k pink gold buckle

Size: 36.8 mm diameter

Signed: case, dial and movement

Accessories: Patek Philippe Certificate of Origin, C.O.S.C, additional case back, setting pin, instruction manual and presentation box

Without exaggeration, the reference 5016 is one of the most important Patek Philippe creations of the neo-vintage era, and certainly one of Philippe Stern’s legacy defining achievements. Produced between the years 1994 and 2010, it struck the perfect balance between innovation, indeed being the most complicated wristwatch ever serially produced by Patek Philippe until the year 2001, and homaging the brand’s rich history. The case, a faithful call-back to the mythical reference 2499. The retrograde perpetual calendar, a tribute to the famous museum pocket watch number 25308, similarly found in a unique reference 96. Finally, contrary to recent fashions, the tourbillon is placed resolutely at the bottom of the movement and concealed by the dial, in line with traditional tourbillon pocket watches, as to preserve the oils and ensure smooth running.

Thanks to new scholarship from Mr. Edouard Henn and Collectability, we now know more than we ever did about the production breakdown of the reference 5016. Patek Philippe never verifies exact production figures, but through meticulous research, the modern collectors’ consensus is that approximately 250-300 pieces of the reference were ever made of the reference, implying a yearly production of under 15 pieces. This extremely slow rate of production attests to the complexity of the movement.

Perhaps most interestingly, out of the examples that have surfaced publicly, examples cased in platinum are by far more numerous than pink gold. In fact, only 6 examples in the present configuration of pink gold and silvered dial have ever been offered at auction. By comparison, 19 platinum examples have surfaced with silvered dials, 14 with black and 6 with special dials, making the present example an extremely scarce variant of the already rare and mythical reference.

The present example has remained in the same hands for many years now, and for most of that time has rested safely under lock and key. This is evident in the excellent condition that the watch is found in, with pronounced fluting to the lugs and four crisp hallmarks. Importantly, scholarship now dictates that all 5016 left the factory accompanied by a C.O.S.C. certificate, which is indeed present and correct in this lot. Combined with the significant historical importance of the reference and the new understanding about the rarity of the configuration, it is no exaggeration to say that the present lot deserves a top spot in any important collection.

(With special thanks to, and permission from, Mr. Edouard Henn and collectability.com)