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Lot Essay
The watches released for Patek Philippe’s Patek Philippe Watch Art Grand Exhibition held at the Saatchi gallery in London in 2015 were a quite spectacular array of completely new versions of discontinued models. Collectors were immediately attracted by their stunning looks and new dial colours not available in the original versions but also by the use of new-old-stock movements and unused cases from series production. Combining stunning looks with extreme rarity, these ultra-limited London edition 5070s instantly became stratospherically desirable. Naturally, the fortunate individuals who were hand-selected to receive an example were some of Patek Philippe’s most loyal and exalted clients who were personally known to Mr. Stern. Indeed, so treasured are these timepieces that almost all examples have remained with their original owners.
An interesting aspect of the specification of the present model is the use of the last non-manufacture perpetual calendar movement, caliber CH 27-70 based on a Lemania ébauche that was significantly modified and finished by Patek Philippe. Such ‘out of series’ late production watches are fascinating to collectors and are among the rarest pieces of any reference. The standard production 5070 was introduced in 1998 and discontinued around 2010.
The Patek Philippe Watch Art Grand Exhibition London 2015 was a resounding success. Open to the public from May 27 until June 7, 2015 at the Saatchi Gallery, the event attracted more than 42,500 visitors over the course of 12 days. It was a great opportunity for the public to learn more about the history of watchmaking and the world of Patek Philippe. Watch enthusiasts were able to deepen their knowledge of fine horology and the general public had the opportunity to ignite their passion for watchmaking and artisanship by completely immersing themselves in the world of the last independent Geneva watch manufacturer. "This is the biggest exhibition we ever held, and we knew from the beginning we wanted to host it in London", Thierry Stern, President of Patek Philippe said. "We had 21 rooms dedicated to watchmaking with its many skills, showing watchmakers at work and revealing what is inside the movement. This is clearly the benchmark for the global watch industry".
Reference 5070 was the first chronograph-only reference produced by Patek Philippe since the reference 1463 was discontinued in the late 1960's. It was introduced in 1998 in yellow gold only, then beginning in 2001 in white gold, in 2003 pink gold and since 2008 it has only been produced in platinum. It is thought that for each version colour that production ceased after reaching 1000 pieces.
An interesting aspect of the specification of the present model is the use of the last non-manufacture perpetual calendar movement, caliber CH 27-70 based on a Lemania ébauche that was significantly modified and finished by Patek Philippe. Such ‘out of series’ late production watches are fascinating to collectors and are among the rarest pieces of any reference. The standard production 5070 was introduced in 1998 and discontinued around 2010.
The Patek Philippe Watch Art Grand Exhibition London 2015 was a resounding success. Open to the public from May 27 until June 7, 2015 at the Saatchi Gallery, the event attracted more than 42,500 visitors over the course of 12 days. It was a great opportunity for the public to learn more about the history of watchmaking and the world of Patek Philippe. Watch enthusiasts were able to deepen their knowledge of fine horology and the general public had the opportunity to ignite their passion for watchmaking and artisanship by completely immersing themselves in the world of the last independent Geneva watch manufacturer. "This is the biggest exhibition we ever held, and we knew from the beginning we wanted to host it in London", Thierry Stern, President of Patek Philippe said. "We had 21 rooms dedicated to watchmaking with its many skills, showing watchmakers at work and revealing what is inside the movement. This is clearly the benchmark for the global watch industry".
Reference 5070 was the first chronograph-only reference produced by Patek Philippe since the reference 1463 was discontinued in the late 1960's. It was introduced in 1998 in yellow gold only, then beginning in 2001 in white gold, in 2003 pink gold and since 2008 it has only been produced in platinum. It is thought that for each version colour that production ceased after reaching 1000 pieces.