Patek Philippe

• cal. 27-460Q nickel lever movement stamped twice with the seal of Geneva, 37 jewels, free-sprung Gyromax balance, adjusted to heat, cold, isochronism and 5 positions, 18k yellow gold rotor engraved with the Calatrava cross • silvered dial, applied faceted yellow gold baton indexes, yellow gold dauphine hands, apertures for day and date in Italian, subsidiary dial indicating date combined with fan-form aperture for moon-phases, outer pearled minute track • large 18k yellow gold case with sloped bezel, downturned lugs, snap back • case, dial and movement signed • with an 18k Patek Philippe buckle

The movement is running and the calendar appears to advance properly. Still, we would recommend service soon. The dial appears to be in very clean and nice condition with no major marks visible. The Italian calendar is very rare. The case shows light wear although no signs of polishing. The corners are very sharp and clean and the gold stamp to the back of the lower left lug is nice and crisp. There is a slight ding on the bezel near 10 o'clock and some light scuffs to the top of that lug as well. The outside of the back is lightly rubbed horizontally. Overall this is a very nice example and very rare with the Italian calendar. The strap of this watch contains 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."

Accompanied by original Certificate of Origin dated May 3rd, 1973 from Eberhard, one of the finest watch retailers in Rome. Further accompanied by a Patek Philippe Extract from the Archives confirming production in 1971 and its subsequent sale on April 5th of that year.

This model, Ref. 3448, was launched in 1962. At that time, it was the only automatic perpetual calendar wristwatch on the market. Ref. 3448 underwent four main evolutions, each introducing a new variation on the design. The present example belongs to the second evolution, produced roughly between 1968 and 1976, which varied from the original 3448 by replacing the painted minute track with a pearled minute track.

The subsequent evolutions are distinguished by their larger calendar numerals, wider-set hour indexes, return to the painted minute ring, and in the final evolution, a larger bezel to accomodate the sapphire crystal setting. The model was ultimately succeeded by Ref. 3450, produced from 1981 to 1985, which included the leap year indication and some more subtle differences.

This particular example is rare within the model, as it bears an Italian calendar. Although the Italian market has always been an important one, fewer watches were produced with Italian calendars than English or French ones.

It is interesting to note the relatively small quantity of this series that were produced over a 20-year period. With only about 20 examples in this series being produced annually, Patek Philippe's technicians were able to pay the utmost attention to each piece. One marker of the artistry that went into Ref. 3448 is the moonphase sector. Each plate is made in solid gold, hand-enamelled in transluscent blue, set in high temperatures, and polished so that the gold stars and moon shine. As a result, each plate bears slight variations from the next in the placement of the stars and tones of blue, and is one of the most strikingly attractive feature of this exceptional and rare model.

For a discussion of Ref. 3448 and other examples, see Reardon, J., Patek Philippe in America, pp. 232-33. For a similar model with an English calendar, see Huber & Banbery, Patek Philippe Wristwatches, Vol. 2, pp. 288-289.