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C ollecting watches can be intimidating. Collecting Patek Philippe watches can be very intimidating.
Complicated reference numbers, lots of specialist lingo and high prices can make getting into the vaunted Genevois watchmaker feel like a minefield inside a hedge maze. But it doesn’t have to be that way. If you know where to look, there are plenty of outstanding watches to be had with a friendlier learning curve and for a more approachable investment.
The real key is not getting too fixated on the hot watches of the moment. Sure, a reference 5711 Nautilus or a reference 3970 perpetual calendar chronograph is a great addition to any collection, but Patek Philippe has been making outstanding watches for almost 200 years – there are dozens of other references well worth your time. Here are a few that get you the high-level watchmaking and house style that Patek Philippe is known for, without scaring anyone off.
This is the Calatrava before it was even called the Calatrava. Patek Philippe didn’t start using that name officially until the 1980s, but the reference 96 was introduced in 1932 and in many ways established the core design language that Patek is still using today. The reference 96 was produced for over 40 years and thus comes in myriad configurations, with cases in nearly every metal, dials of every color and material, not to mention all sorts of hand, bracelet and caseback varieties too.
What unites them is their smaller 30.9mm diameter, simple case architecture and straightforward, three-hand dial layout with a subsidiary seconds display. (There are some two-hand versions as well, but they’re exceedingly rare.) This size is obviously small by today’s standards, but worn on a minimal strap they have an extremely elegant, throwback appeal on the wrist. The relative abundance of examples, the variety of styles and the watch’s smaller size have combined to keep prices down, so you can obtain a beautiful 96 for significantly less than you would pay for a comparable reference 530 or 570. And, Patek Philippe would not be what it is today without this important watch, so you’re getting a critical piece of horological history too.
While examples often appear in auctions, reference 96 Calatravas are also regularly available for immediate purchase at Sotheby’s.
The Aquanaut was, until recently, the youngest family of watches in Patek Philippe’s collection, making its debut in 1997. The case was clearly inspired by the Nautilus, but with a much sportier dial and the addition of a rubber strap to the mix. In the 27 years since, the Aquanaut has developed its own cult following and the once divisive rubber strap has become the watch’s signature calling card.
However, Patek also offered the Aquanaut on a stainless-steel bracelet in the references 5060 and 4960. Unlike the Nautilus bracelet, this one is truly interchangeable and features endlinks like the bracelets you’ll find on most classic sport watches. Because of the watch being so closely linked to its strap, these models often sell for significantly less and go overlooked in auctions. The bracelet gives the watch a totally different look and feel on the wrist, upping the bling factor a bit, and you still get everything else people love about the Aquanaut. And worst case, you can always swap it onto a strap yourself later.
The Golden Ellipse is a textbook case of a fantastic watch causing a stir upon its release, fading into relative obscurity and then finding a second moment in the limelight. Even just a few short years ago, the Ellipse was a watch many collectors passed over without a second thought, but it has seen a revival in popularity and an explosion of scholarship once again pushing it to the front of collectors’ minds. Patek Philippe releasing a new Ellipse in 2024 with an innovative bracelet only added fuel to the fire.
The first two Golden Ellipse models were the references 3546 and 3548, released in 1968, with the latter featuring the combination of a yellow-gold case and a sunburst-blue dial that has become synonymous with the model in the years since. A jumbo version was released in 1971 in the reference 3605, and the 1970s would see a plethora of other models featuring different dials and funky bracelets. Prices have already started creeping up, but interesting Ellipse models can still present great value and a chance to own a watch that genuinely has a look and a history all its own.
Non-round watches are having a huge moment right now, and Patek has even more to offer in this vein than just the oblong Ellipse. Throughout the middle decades of the 20th century, Patek produced a steady stream of square and rectangular watches, which happen to be some of the brands more unique and underappreciated pieces. These watches come in a wide range of shapes, sizes and styles. On the businesslike and conservative end of the spectrum are references like the 1493 and 1574, with sharp case lines, elegant typography and simple lugs. On the more whimsical and unique end are references like the 2440 with its scrolling lugs and the 1450 Top Hat with its extremely unique case architecture and dramatically arched crystal.
Patek continues to make square and rectangular watches today, though they’re often on the more conservative side in the Twenty-4 and Gondolo collections. The more obscure references from decades past offer a dash of bravado and a bit more personality, all while remaining at the more accessible end of the spectrum. Since these watches aren’t collected under a single family, finding them can take a bit of browsing – but they’re worth the hunt.
This is probably the least entry-level watch mentioned here, but it is likely the best way to get into a genuinely collectible Nautilus without having to jump all the way into the deep end. The reference 3800 Nautilus is a smaller version of the original reference 3700, which is often referred to as the jumbo size. It was introduced in 1980 as an alternative option for customers who felt the Jumbo was still too big. Its 37.5mm diameter proved extremely popular and the watch in production all the way until 2006 (making it the longest-produced Nautilus reference yet). It is also one of the most undersung watches the brand has ever made and until recently they were genuinely inexpensive when compared to similar models across the market.
Given its long production run, there are many different versions of the reference 3800 available, including steel, two-tone, solid-gold and platinum models, and even some wild gem-set versions too. In addition to the smaller case size, you can spot a 3700 by the addition of the central seconds hand, subtly distinguishing it from its larger brethren. The blue dial, steel-case models remain the most popular, while the two-tone steel-and-gold models present the best value.
There genuinely is a Patek Philippe watch for nearly every collector, no matter what their particular taste may be. Nearly two centuries of history, a legacy of great design and a position in the highest echelons of watchmaking makes for quite a rich back catalogue – and one with some real hidden (and not-so-hidden) gems to be found.
If the watches seen here interest you or spark another idea, Sotheby’s team of watch specialists are on hand to help ensure you find the right watch for your collection.
