Patek Philippe

• cal. 27-460M automatic nickel lever movement stamped twice with the seal of Geneva, 37 jewels, free-sprung Gyromax balance, adjusted to heat, cold, isochronism and five positions, 18k yellow gold signed rotor • gilt dial, painted radial Roman numerals, aperture for date at 3 o'clock, IOS logo above 6 o'clock • 18k yellow gold case, sloped bezel, Million Dollar Associate engraving to the snap back • 18k yellow gold integrated mesh bracelet • case, dial, movement and bracelet signed

The movement is running, however it might require service soon. The dial has some light spots throughout, however overall is in nice condition. The case shows general wear throughout and appears to have been lightly polished, however the gold stamp to the back surrounding the movement is rubbed, but visible. The crown appears to be a replacement and not by Patek Philippe. The outside of the back has the factory engraving 'IOS Million Dollar Associate'. The bracelet is in nice condition and the buckle is nicely stamped.
"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 an Extract from the Archives confirming production with bracelet in 1970 and sale on November 17th of that year.

Ref. 3565/1 is best known as the reward of choice that Investors Overseas Service gave its salespeople who reached the milestone of one million dollars of sales. Founded by Bernie Cornfeld, the company enjoyed great success in the sale of mutual funds during the 1960s, but its pyramid-scheme structure came unravelled as the market fell at the end of the decade.  

For further discussion, see Reardon, J., Patek Philippe in America, p. 277.