The Reference 5070 represented Patek Philippe's return to production of chronograph watches in 1998 after a break of almost 30 years. The last chronograph model produced before this was reference 1463, production of which ceased in the late 1960s.
The 5070 was originally launched in yellow gold only, but after three years examples were produced in white gold. This was followed by pink gold in 2003 and platinum in 2008. Production ceased in 2010 with the introduction of the reference 5170.
The inspiration for the 5070 was the vintage reference 2512, an unique split-second chronograph wristwatch produced by Patek Philippe between 1950 and 1952. This legendary model can be seen exhibited at the Patek Philippe Museum (inv. P-1160).The case and dial designs are very much alike.
The calibre 27 70 157 is largely recognised as one of the best chronograph movements and is based on a Nouvelle Lemania ébauche especially developed for Patek Philippe. The movement was only used in the 5070 and 5071 references (the white gold diamond-set version of the 5070).
The platinum 5070 having the shortest production period is the rarest with only 18 pieces having re-appeared on the market so far. The highly attractive "bleu nuage" (cloudy blue) dial, which was only fitted on the platinum versions, is a stunning representation which has countless nuances depending on the light. Combined with its robust case, the 5070P is already considered as an iconic piece and one of the most sought-after models of the entire modern production of Patek Philippe.
The present lot, in superb overall condition, comes complete with all its accessories and comes from the original owner and has never been offered at auction before.
For an example of Ref. 2512, see Huber, M. & Banbery, A., Patek Philippe Wristwatches, Vol. 2, Second Edition, p. 274.
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