PATEK PHILIPPE | 'FOURTH SERIES', REF 3970EJ-014YELLOW GOLD PERPETUAL CALENDAR CHRONOGRAPH WRISTWATCH WITH MOON PHASES, 24-HOUR AND LEAP-YEAR INDICATIONCIRCA 2003

Movement: cal. CH 27-70 Q manual winding, 24 jewelsMovement number: 3'046'792Case: 18k yellow gold, screw-down sapphire crystal display backCase number: 4'197'823Closure: Patek Philippe crocodile strap and 18k yellow gold folding claspDimensions: 36 mmSigned: case, dial and movement Accessories: Patek Philippe Certificate of Origin, additional 18k yellow gold solid case back, setting pin, booklets and presentation case

MVT: is running at the time of cataloguing. The calendar is advancing and the chronograph working. CASE: in very good condition with visible fluting to the lugs and crisp hallmarks on the back. There is minor surface wear visible to the naked eye, including some light surface scratching on the bezel above the crown. DIAL: in great condition. There are only very minute surface blemishes visible on the indexes when examining the dial under magnification. Please note that the movement has not been tested for the accuracy of time and may need a service at the buyer's expense. Sotheby's does not guarantee the future working of the movement and we do not guarantee the authenticity of any individual component parts since subsequent repairs and restoration work may have resulted in the replacement of original parts. You are advised that watch straps or bands made of materials derived from endangered or otherwise protected species (i.e. alligator or crocodile) are not sold with the watch and we reserve the right to remove these straps or bands prior to shipping. Furthermore, the watch may not come with its original manufacturers strap or band. Prospective bidders should review the Conditions of Business, Authenticity Guarantee, the Guide for Prospective Buyers, and any Important Notice in the sale catalogue.
"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."

Under the direction of Philippe Stern in 1986, Patek Philippe launched the first execution of the reference 3970. The lineage with the references 1518 and 2499 can easily be noticed. However, the Cal. 27-70 was based on a Lemania ébauche and not on a Valjoux movement of the previous iterations. The manufacturer improved the case design which soon benefited from a screw-down back, paving the way for the introduction of ref. 3970E (standing for étanche or water-resistant) in 1988. The 3970E was manufactured in yellow, white and rose gold as well as in platinum. Similarly to its famed predecessors, the 3970E is widely appreciated by all collectors alike for its wearable proportions and the quality of its complicated movement. In 2004, Patek Philippe launched its successor, the ref. 5970, designed by Thierry Stern, shortly before his father handed him the reins of the company.

The present 3970E has been kept in excellent overall condition with a crisp case and strong hallmarks, and will be an excellent addition to a growing watch collection.