Patek Philippe

• cal. 27-460Q automatic movement, stamped twice with the seal of Geneva, 37 jewels • silvered dial, applied 18k yellow gold faceted baton and square indexes, apertures for day and month in English, fan form sector for moon phases combined with date, aperture for leap year with Arabic numerals and red dot leap year indication • 18k yellow gold case, chamfered bezel and lugs, Calatrava crown, solid snap on case back • case, dial, and movement signed • with an 18k yellow gold Patek Philippe buckle

The movement is running at time of cataloguing, however it was not tested for the accuracy of time or duration of the power reserve and may need service at the buyer's discretion. Please note that Sotheby's does not guarantee the future working of the movement. Case in overall good condition with light oxidation, wear, and scuffing consistent with age and use. Bezel with light surface markings throughout. Lugs with some wear and markings. Heavier surface marking to the upper right lug band. Case back with some light wear and surface markings. Dial in very good condition with some very light dot surface debris. Movement in excellent cosmetic condition, pushers slightly sticking and month disk rotates harshly. Please note that repair to the stuck day wheel will be completed at Sotheby's cost with Patek Philippe post-sale. The time frame may be 4-6 months. ***Please be advised that the bands on this watch are made of materials derived from endangered or otherwise protected species (i.e. alligator and crocodile) and thus not sold with the watch, they are for display purposes only. We will remove these bands prior to international shipping.***
"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."

Accompanied by a Patek Philippe Extract from the Archives confirming sale on September 29, 1981, with applied yellow gold indexes, and red leap year indicator. Together with a Patek Philippe presentation box with outer packaging.

The present example, belonging to the illustrious 'red dot' first series of reference 3450, is, according to our research, chronologically the first example of red dot reference 3450 to appear at auction. Movement number 1119586, offered at Antiquorum recently, was a reference 3450 with no leap year indication, and thus far movement number 1119587 has not appeared in public auction. The present lot, movement number 1119588, is therefore the earliest of the dozen 'known' red dot reference 3450 watches to appear at auction. 

Production of reference 3450 began in 1981 and ceased in 1985. In total, only 244 examples were made. 1981 and early 1982 were the only years of production for the first series examples, featuring a red dot for the leap year and Arabic numerals for 1,2 and 3. It is estimated that these account for perhaps about 10% of the total production run. In 1982, the leap year display was updated to feature only Roman numerals I, II, III and IV.

Both the 3448 and 3450 are beloved for their striking, angular case shapes, which straddle the line between 'vintage' and 'modern' from a design and historical perspective. The chunky and bold presence of the watch on the wrist was a departure from the ultra-slim dress watches favored at the time of their production. Almost inconceivably to collectors today, when first introduced, the models were not terribly popular and often sold years after production, sometimes even at discounted prices. They were ahead of their time aesthetically, but today collectors have caught up with full appreciation for the modern and timeless design. 

The present lot is exemplary of why the reference is so beloved by collectors today. Its lines remain clear and its edges remain sharp; a well-preserved example of this reference, such as the present, is both a visual and tactile joy to behold. Sotheby's is honored to offer this piece for the first time at auction, and to present the earliest known 'red dot' example to the market for students and collectors alike. 

For an example of this reference, see Huber, M. & Banbery, A., Patek Philippe Wristwatches, pp. 290-291.