Among watch collectors, it’s rare to find consensus about anything. Quality is subjective; sometimes, so is rarity. Desirability is the most divisive of all, but there are a few watches that are so special, so attractive, that across the board, any version of the reference is almost undeniably a grail.
The Patek Philippe reference 1518, the first-ever serially-produced perpetual calendar chronograph, and its successor, the reference 2499, are more than just strong examples of mid-century work from one of the greatest watchmaking Maisons. They’re revolutionary trendsetters that are almost universally coveted.
So, in 1994, when the brand launched the reference 5004, Patek’s first commercially available perpetual calendar (QP) split-second chronograph, it should have been a sign for collectors to stand up and pay attention.
Patek Philippe reference 5004R-018 Perpetual Calendar Split-Seconds Chronograph (Image: Daniel Bourn)
And yet, despite its complexity and its unique nature as a rare “first” for one of the greatest watchmakers, secondary market values were in-line with retail prices over a decade after discontinuation. That was, until recently. Now, the market is quickly catching on. Prices have started to trend upward as many collectors (some that weren’t lucky enough to get a 5004 on release) have taken notice of the importance of what is arguably the sportiest watch that encapsulates the best of Patek Philippe’s history, design, and engineering.
Origin Story
The origins of reference 5004 are closely tied to those of reference 2499. The reference 1518 was the first commercially produced perpetual calendar chronograph wristwatch, but it served as a jumping-off point for the reference 2499, which in turn served as a framework for something far more impressive.
Patek Philippe reference 2499 First Series Asprey (Image: Sotheby’s Watches)
Patek Philippe has a history of pursuing “firsts” in unique examples. The first perpetual calendar wristwatch, the first perpetual calendar chronograph, and the first retrograde perpetual calendar; all were made by the brand. Throughout this process, they relied on base movements from outside manufacturers. They applied their watchmaking expertise and finishing skills to create the watches that their clients demanded, a standard practice at the time. This practice continued with the brand’s various references of perpetual calendar chronographs until the early 2010s, with the following watches:
- 1518 (1941–1954), a total of 281 pieces
- 2499 (1950–1985), a total of 349 pieces
- 3970 (1986–2004), approximately 4,000 pieces made
- 5970 (2004–2010), with approximately 2,800 pieces made
Perpetual calendar split-second chronograph reference 2571 (Image: Patek Philippe)
In 1955, a few years into the life of the 2499, Patek created three examples of a very special reference, the oversized perpetual calendar split-second chronograph reference 2571. Not much information is known about why these examples were made, but with their tachymeter scale, longer, sloping 39.9mm case, dauphine hands, circular ends to the split-second chronograph hands, and tachymeter scale, it was a beautiful and purpose-built timing machine. One example resides in the Patek Philippe Museum, whilst a Gübelin-signed piece and a second, previously unseen example, have never been offered for public sale in the modern era.
Another special watch in private hands is labeled on paperwork as a reference 2499 split-second chronograph, but was originally a reference 1436 split-second chronograph, recased at the Italian owner’s request into the larger reference 2499 case.
Unique perpetual calendar split-second chronograph reference 3973 (Image: Patek Philippe)
Finally, there’s another oddity. In 1986, the 2499 was discontinued, and the 3970 was designated as the representative perpetual calendar chronograph of the brand (one that has seen considerable demand from collectors in recent years). Mr. Philippe Stern, owner of Patek Philippe, requested a customized version for himself. Made between 1988 and 1989, the unique reference 3973 was Stern’s final flirtation with this ultimate combination of complications until the reference 5004 was released five years later.
Technical Background
After the success of the 2499, it’s hard to imagine Patek would want to mess with a good thing, but as technology improved and tastes changed, Patek had no urge to stand still. The reference 3970 was launched in 1986 as the successor to one of the greatest watches of all time.
First series perpetual calendar chronograph reference 3970 (Image: Sotheby’s Watches)
However, the tastes of the era still trended toward smaller watches with greater reliability and the durability of more waterproof cases. In addition to (or because of) the brand’s downsizing of the case to 36mm, making the watch waterproof, and incorporating a sapphire display caseback, the brand also updated the movement inside.
Perpetual calendar chronograph reference 3971 (Image: Phillips Watches)
The brand turned to movement supplier Lemania for their caliber 2310 column-wheel chronograph ebauché. The same base movement that Omega modified into the caliber 321 that powered their early Speedmaster “Moonwatch” would form the basis of what Patek called the CH 27-70 Q. In the brand’s terms, the movement was designated the Chronographe (CH), measuring approximately 27mm across, with a unique caliber number 70 and an added Quantième Perpétuel or “perpetual calendar” (Q) function.
Lemaia 321 (Image: Revolution) and Patek Philippe Caliber CH 27-70 Q (Image: Phillips Watches)
For those who may not be familiar, a perpetual calendar is relatively self-explanatory; it’s a watch that requires no corrections to its calendar function to account for the length of a month or leap year. A chronograph is essentially a stopwatch. The split-second function takes this further, allowing the simultaneous timing of two separate events.
Collectors highly regard this “Lemania era,” which continued with the reference 5970 in 2004, before Patek moved to in-house construction with the reference 5270 (all with essentially the same functions that dated back to 1941 with the reference 1518).
- 1518 (1941–1954), Valjoux base movement
- 2499 (1950–1985), Valjoux base movement
- 3970 (1986–2004), Lemania 2310 base movement
- 5970 (2004–2010), Lemania 2310 base movement
Eight years after the release of the 3970, the reference 5004 launched with the CHR 27-70 Q, the R standing for rattrapante or “split-seconds.” Even a cursory comparison of the movements would show the apparent connection between the two movements. However, there is a notable and visible difference at the center of the movement.
As the perpetual calendar functions—hours, minutes, seconds, day, date, month, and leap year indication—remain the same, that difference is therefore logically related to the addition of a split-second function.
The calibers CH 27-70 Q (Image: Hodinkee) and CHR 27-70 Q (Image: Phillips Watches)
When viewing the rear of the 3970, you’ll notice a “Y”-shaped bridge with the left arm holding the chronograph seconds wheel in the center of the movement, while the minute counter wheel is on the right. Across from these, further to the left, you have a visible wheel for running seconds. Above this, at 12 o’clock, is the column wheel that interacts with the pushers, the clutch lever, the zero-reset lever, and the operating lever to run the chronograph.
If you only looked for similarities in the center of the movement, you’d be a bit confused about the 5004’s heritage from the 3970. This “Y” bridge, chronograph wheel, and some of the other two aforementioned wheels are partially covered by a large bridge plate, which serves as the base for the split-second chronograph mechanism. One of the most common features on most split-seconds chronographs is a set of long clamps that grab onto the very fine gearing of the center wheel to hold one hand of the chronograph in place while the other (run by a separate wheel below) continues. On the 5004, there’s also an octopus-like isolator gear that interacts with the secondary chronograph wheel and manages the amplitude of the mechanism to ensure accuracy.
CHR 27-70 Q isolator (Image: Patek Philippe for SJX Watches)
To explain the updated movement, I’ll defer to Patek Philippe’s explanation:
Split-seconds chronographs feature two sweep hands: the chronograph hand (known as trotteuse) and the split-seconds hand (rattrapante). The split-seconds wheel, together with the split-seconds hand, rotates alongside the chronograph wheel to which the chronograph hand is attached. Both wheels are interconnected by the split-seconds heart cam, which is mounted on the chronograph wheel. Just like in any mechanical connection, the ruby roller of the split-seconds lever requires a slight amount of play for flawless functionality. However, this play can occasionally lead to slight deviations in the position of the split-seconds hand when both hands should be perfectly aligned.
Reference 5004P Movement (Image: Phillips Watches)
Powering a chronograph, let alone a split-seconds chronograph, requires a significant amount of power draw and can impact accuracy as the added power is “requested” from the movement during the activation and operation of the chronograph. Despite all this, Patek still maintained a 60-hour power reserve on the 5004 as it had on the 3970. This was, according to a letter from Patek, due to the following updates from the Lemania caliber:
“Tooth profile and transmission ratio changes allowed the torque curve to be optimized and boosted the caliber’s power reserve by 20% to 60 hours. Of course, the heart of the new movement is the Gyromax balance invented and patented by Patek Philippe, as well as a hairspring with a Phillips overcoil.”
The added bridges required to make the split-second works function also added thickness to the CHR 27-70Q. While the reference 3970 was 12.8mm thick, the 5004 ended up 15mm front to back. The size led some collectors to affectionately nickname the watch “the hamburger.”
Case back of 5004P (Image Sotheby’s Watches)
For nostalgic collectors, not only was this the first Lemania-based split-second chronograph caliber, but it would also be the last, making it the singular and ultimate Lemania Patek in many ways. Without delving too deeply into the specifics of Lemania’s history, the movement manufacturer (then part of Breguet) was acquired by the Swatch Group in 1999. Rumors suggest that the Swatch Group began to demand that any movement using their base be labeled as Lemania or Swatch. Either way, the Swatch Group no longer supplied Lemania movements to Patek after 2009, and any watches made after that point were completed using Patek’s extensive stock of movements.
With that move, the Lemania era came to an end with the reference 5970 and reference 5004.
Differences Over The Years
While some watches—2499, 3970, and 3940, for example—have pronounced and strict distinctions between different “series” variations, the 5004 is nowhere near so simple. With a watch that may have as many or more unique variants of dial design as any other Patek model, looking solely at dial font, design, or scales does less than it did in previous models. That said, there are some aesthetic differences to look for that denote earlier versions of the Patek Philippe reference 5004.
Early reference 5004 with short crown (Image: Christie’s Watches)
One of the key elements of the 5004 is the massive crown, which features a pusher integrated into it that stops one of the two chronograph hands while the other continues. Some earlier examples of the 5004 featured a shorter crown (approximately two-thirds the size of the later version), but there’s no concrete time or serial number known when this was changed.
Early reference 5004 with short hands (Image: Monaco Legend Group)
Earlier in the 5004’s life, the chronograph hands did not feature extended counterweights to balance out the length and weight of even the finest chronograph hands. Later hands have these long, extended ends in place of the truncated, wire-like portions. Both these and the short crowns were often changed at customer request during service.
Reference 5004 hands comparison with feuille hands above left and baton hands above right (Images: Phillips Watches)
Similarly, most versions of the 5004 feature the feuille or leaf hands, which widen to a sculpted middle and come to a fine point at the end. Some models, often those with gem-set indices, feature baton hands, as seen on the 3970. That’s because, in some instances, service centers (or collectors) replaced the dials on the 5004s with those of the 3970, which fit perfectly because of the same base movement. In one instance, a previously unknown 5004 in yellow gold with a doré yellow dial and Breguet numerals was later found to be a temporary dial swap from a known 3970. Meanwhile, there are examples with baton indices and feuille hands. In short, dials and hands can be a wild west of collecting and should be considered carefully, backed up by Patek’s records.
Reference 5004 moonphase detail (Image: Daniel Bourn)
Another difference to note between versions of the 5004 is the color of the moon phase and stars. Patek made the thoughtful choice to use a silvered moon and stars on watches with white metal cases, while yellow and rose gold cases had appropriately colored moon and stars. This way, the two materials did not clash.
Arguably more critical to the long-term function and collectability are the modifications Patek made to the movement over its lifespan. There are at least three variations of movements that have been documented as Patek looked to improve the reliability of functional issues with the split-second function. Each of these designs was visible on the surface, but improvements also included changes under the visible portions of the movements.
Early reference 5004 movement bridge shape (Image: European Watch Company)
Early movements (circa 1994-1996) featured a large, oddly shaped, unsigned, and oversized bridge that pinned the rattrapante wheel to the movement plate. This strange shape and vertically grained finish stand out as inelegant against the normal, refined Patek movement. However, as issues began to be reported by clients (specifically with the reset mechanism and isolator not engaging with the split-second function), Patek offered to replace the bridge. Because, over time, most clients chose to replace the parts for better function, these early (yet unattractive) bridges are exceedingly rare.
Reference 5004 movement with central bridge version 2 (Image: Sotheby’s Watches)
After attempting to resolve these issues permanently, Patek Philippe created a second central bridge design to hold the rattrapante wheel and interact with the “octopus” isolator arm more reliably. Used from 1997 to 2001, the movement resembles the original but with a central bridge that has been shaved down into a more delicate shape, revealing more of the rattrapante wheel while still being connected via only one screen.
Reference 5004 movement with central bridge final version (Image: Phillips Watches)
Finally, fully updated movements from these eras or versions made after 2002 all feature the final updated movement design. Here, the bridge has been changed once again. Instead of being fixed solely via one screw and the central jewel, the bridge now extends to the isolator “octopus” and is screwed through this end. This likely adds pressure to stop any potential flexing of the “octopus” that would impact the chronograph function.
Reference 5004R movement bridge octopus (Image: Daniel Bourn)
You can verify whether the movement has been updated by referencing the production date. When examining the movement, buyers should consider one of the typical quality issues with the 5004s throughout their lifespan: the finish of the movement. There are sometimes noticeable finishing issues on later versions of the 5004, including the approximately 100 made in steel, which can exhibit oxidation and oil encrustation on portions of the levers for the chronograph mechanism. Often, the hands have also oxidized. This can be resolved during service.
Production Numbers
Aside from the minor differences in case design mentioned above, the reference 5004 maintained the same case design throughout its production run. As previously mentioned, the watch measures 36.5mm in diameter by 15mm thick. To account for the thickness of the movement and integrate it better into the case shape, the bezel is convex on the 5004, whereas it is concave on the 3970. The case also features a small band where the bezel meets the case, and beneath the case, it contacts the downturned, stepped lugs. All examples, including the platinum model, came with both display and closed casebacks and featured 25m of water resistance. While some watches from Patek Philippe changed in case design over their production span, the 5004 has remained essentially unchanged.
Reference 5004 case side profile (Image: DB)
A study of over 200 examples that have sold on the open market (courtesy of Everywatch.com) gives a general breakdown of the average production of the four precious metal cases. White gold is the rarest, making up approximately 11% of the total output for the reference. In fact, the vast majority of white examples that have appeared on the market were produced between the late 2000s and 2010. The next rarest examples are yellow gold (around 17%) and rose gold (20%). Finally, approximately 44% of examples were made in platinum, a fact that’s quite unusual for Patek Philippe. Using a conservative estimate of 800 watches made, the total production is as follows
- Platinum – approximately 352 examples
- Rose gold – approximately 160 examples
- Yellow gold – approximately 136 examples
- White gold – approximately 88 examples
Black dial with princess-cut diamond hour markers and a single baguette at 12 o’clock (Image: Phillips Watches)
When the model was initially launched, five combinations of dials and materials were available, plus calendars in English, French, German, or Italian. Each of the four precious metals is most commonly seen with silvered dials featuring Arabic numerals for hour indices, color-matched to the case. Platinum cases typically featured this configuration, but Patek also offered a black dial from the 3970, with princess-cut diamond hour markers and a single baguette at 12 o’clock. These dial designs would serve as the basis for future minimal runs of the 5004. These special dials will be covered in more depth later in the story.
Reference 5004P black dial with stick indexes (Image: Christie’s Watches)
Toward the end of production, the 5004P also began to feature black dials with baton indices and straighter stick hour and minute hands more frequently. That design was otherwise found more often on the 5004G. These are mostly dated from 2009 or 2010, within one or two years of the eventual discontinuation of the reference, though at least one example from 1995 (with appropriate short chronograph hands) has appeared on the market. Patek was, at least in one case, willing to swap the dial to this configuration in this era, as well as fit a bracelet to the watch in 2017.
In addition to the five main dial designs introduced at the announcement of the reference, other dial variants eventually entered limited production. As previously mentioned, the white gold variant is the rarest metal and was offered with a white/silver dial with Arabic indices at first. But interestingly, it was quickly offered with a black dial and “stick” or “baton” indices like the dials found over 10 years later on platinum examples. Extrapolating from examples at auction, 60% of 5004G were made with silver dials while 40% are with black dials.
Another striking, yet rare, black dial variant can be found on the 5004R. Black dials on colored metal cases are some of the most coveted among collectors of vintage and neo-vintage Patek Philippe. These black-dialed 5004R started to be delivered in the mid-2000s, with some dials later swapped to this configuration. Only seven distinct examples born with this dial have ever come to auction. It’s likely that these were only offered to Patek’s most valued clients.
The final, and likely most important, serial production was 5004A (“A” for acier, or steel in English), which many collectors consider to be the ultimate version of the 5004. The official send-off to the reference was initially announced in 2011. In the world of Patek Philippe, white metal watches—especially for chronographs and complications—are significantly rarer than those in yellow and rose gold. In the last 30 years, however, that has changed. What hasn’t changed is the fact that Patek rarely makes their most complicated watches in steel.
Reference 5004 in steel (Image: Phillips Watches)
The Stern family understood the rarity and importance of steel, making it a logical choice to use the material for the end of such an important watch. The use of steel also counters one of the main complaints about the model: its weight. Most people will only ever experience a 5004 in gold or platinum, and platinum, in particular, has considerable weight. In steel, the 5004 becomes nearly a daily-wearable watch. Accented by blackened baton hour markers, it’s a bold look despite the silver dial. Contrary to reports from other blogs, the author has heard reports of as many as 100 examples, not 50 as is often reported. If that holds, and my supposition on the total number of watches made holds, it accounts for approximately 8% of all 5004s produced.
The general wisdom was that Patek made 12-15 watches per year (approximately 255 maximum), but it’s fair to assume the number is much higher. Some suggest that there were around 800 examples of the 5004 made over its 17-year run, while others estimate over 1,000. Despite its official discontinuation in 2011, and in addition to a unique example made for auction in 2013, some examples were produced well after the official end date. Yes, this makes the scholarship challenging and reduces rarity (there were only 349 examples of the 2499, for comparison), but the remarkable nature of the 5004 still makes it highly collectible.
Outstanding Examples
As with any Patek Philippe reference, the rarest examples of the 5004 are pièces uniques or special runs, custom commissions for Patek’s most valued customers. These specific examples are often kept in private hands and are rarely, if ever, photographed; however, at least 50 different dial variants have been documented. Many clients were able to purchase additional dials after their initial orders, and extracts from Patek Philippe’s archive should help determine whether these dials were delivered with the watch.
Reference 5004P with unusual blue tachymeter scale dial (Image: Christie’s Watches)
Most of the record-breaking prices for the reference 5004 were set shortly after its official discontinuation. Some of these pieces are known by the names of their former owners, including celebrities like Eric Clapton and famous collectors such as Michael Ovitz. Some of these unique pieces were then taken as inspiration for other client orders, making them truly unique only in the most minute details. Some other examples may be part of small runs for groups of VVIP clients, rather than unique examples.
In addition to the few publicly known sets in all precious metals, there are also other confirmed (though not photographed) sets of 5004s, as well as some unique references of 5004A for VVIP clients. It’s impossible to be exhaustive; however, here are some of the most exceptional examples of 5004s.
The 5004T Only Watch
In 2013, Patek decided to create what would instantly be considered the ultimate version of the 5004 when they produced a single example in titanium and offered it for sale at the OnlyWatch charity auction. This is the sole known example of the 5004T and one of only approximately twelve Pateks known in this material. The watch was quite unusual for the typically traditional Patek Philippe, featuring a highly automotive-themed cross-hatched dial that resembled tire treads, an outer white track reminiscent of a “Paul Newman” Daytona, “reverse Panda” white subdials, and a single red chronograph hand.
The Patek Philippe reference 5004T for Only Watch (Image: Antiquorum)
Patek’s OnlyWatch pieces now occupy two of the top three spots on the list of most expensive wristwatches ever sold, but back in 2013, prices were not nearly as mind-bending as they have become. The watch sold for just under $4 million at the time. For context, 12 years after the auction, the 5004T is only the 24th most expensive Patek Philippe sold publicly.
The “Clapton”
Two of the top eight records for reference 5004 belong to a single watch. Eliminating three examples of 5004A that have set high prices, this one example accounts for two of the top five results for the reference. This is due to both the unique configuration and the famous former owner, Eric Clapton. In this case, the platinum 5004 was delivered in 2009 and features a sunburst-finished blue metallic dial with elegant and sporty Breguet “12” and dot markers for the hours, as well as a tachymeter scale.
Patek Philippe reference 5004P for Eric Clapton (Image: Phillips)
The watch first came to market in 2016 at Phillips’ Hong Kong auction. By that time, the watch was described as “formerly” of Clapton’s collection, implying “Slow Hand” had already sold the piece, and a second owner was offering it. The watch sold for around $800,000 and remained in a collection for five years before being offered again in 2021 at Sotheby’s, fetching just under $1 million. For many collectors, the combination of white metal, split-second function, Breguet numerals, and tachymeter scale makes this a perfect or near-perfect version of a complicated Patek Philippe.
The “Ovitz” and Other Variations
Michael Ovitz, a talent agent, co-founder of Creative Artists Agency, and briefly the president of The Walt Disney Company, was one of the most notable customers for custom Patek Philippe watches. For some time, he was one of the brand’s biggest clients, frequently ordering sets of the same design in various metals.
Two Ovitz special-order Patek 5004s have appeared on the market, both with the same dial configurations and both delivered in April 2011. Both watches, crafted in yellow gold and platinum, feature a black dial with Roman numeral “XII,” dot hour markers, and a tachymeter scale, along with the initials “MSO” at 12 o’clock. The watches also have luminous leaf hands and luminous dots in the minute track. The similarities and sale date imply (most likely) that Ovitz ordered a set of 5004s in this configuration.
The platinum reference 5004 made for Michael Ovitz (Image: Phillips Watches)
The platinum example sold at Phillips in Hong Kong in 2023 for $800,000. The yellow gold, however, had a very middling result when it first appeared in 2012, selling for just shy of $375,000. When it reappeared at Sotheby’s in 2023, it sold for CHF 1,071,000, or approximately $1.35 million USD. The discrepancy in results in the same year is likely, in part, because the combination of yellow gold and black dials is a historic rarity for Patek Philippe and the 5004 specifically. One unanswered question is why this yellow gold example was once listed for sale on a bracelet described as original to the watch, but never seen in that format again.
Other versions of the Patek 5004 bear a resemblance to Ovitz’s preferred specification, though none feature luminous accents or his monogram. These include (among others) a white gold version with a salmon dial, a platinum version with a blue dial on bracelet, a rose gold with black dial, and a yellow with doré yellow dial. Most of these watches were sold at auction between 2012 and 2018, with prices ranging from $375,000 to $625,000. The sequential numbering of some of these examples suggests that they were originally part of two sets.
Gem Indices
In addition to the versions of the 5004 available in platinum with 3970-style diamond dials, there are several other examples featuring gem-set indices. The most prominent example is a set of four custom-order watches that were auctioned off by Christie’s in 2013 as the first known set. The watches were auctioned as individual lots, with a box for all four also offered. The watches were as follows: yellow gold with silver dial and yellow sapphire indices (sold for $325,000), white gold with silver dial and blue sapphire indices (sold for $450,000), rose gold with silver dial and ruby indices (sold for $555,000), and platinum with silver dial and black diamond indices (sold for $600,000).
A ruby version of the 5004 rose to prominence when it was sold to artist and collector Jay-Z for $1.5 million; however, this was an earlier variant with shorter hands. Currently, there are three known versions of the watch.
A pair of reference 5004P with with baguette indices (Image: @hiro_beachi)
Another particularly attractive version of the 5004 is those rare examples in platinum with baguette indices that mimic baton indices. These examples were available in both early versions, featuring a short crown, short chronograph hands, and stick hour and minute hands, as well as a later example with feuille hands, as shown in the above image by a Japanese collector. For some reason, many of these have appeared in Japan, some with dials replaced by Patek at customer request. Finally, there is one known 5004P with a silver dial and 3970-style diamond indices, and delivered initially as such.
Colored Dials
Colored dials are incredibly rare for the reference 5004, but one was made for musician John Mayer. In addition to the previously mentioned versions from Eric Clapton, Michael Ovitz, or other similar variants, the most unusual is a white gold example with a salmon dial and blackened Arabic indices and hands, as well as a “chocolate” sunburst dial in platinum, which was sold in 2019 for around $550,000.
Reference 5004P so-called “Red 2” (Image: The Keystone)
While it doesn’t qualify as a colored dial, this seems like the best place to mention “The Red 2,” a unique piece commissioned by an Asian client who requested that red Arabic numerals be placed on the dial of their custom orders. In this case, the choice is accented by one red split-second chronograph hand.
Special Scales
If there was one design feature rarer than all others on the reference 5004, it’s the pulsation scale. Initially used by doctors to time the heartbeats of patients and found on vintage watches, only one of these special scales has appeared on the market. In 2018, Sotheby’s Hong Kong auction sold one of the most expensive 5004s to come to market, featuring a unique black-dialed, rose gold example with a Breguet “12,” dot hour markers, and a scale labeled “Gradue Pour 15 Pulsations.” The scale allowed the user to time 15 heartbeats and know the total beats per minute of the patient.
Reference 5004 in rose gold with scale labeled “Gradue Pour 15 Pulsations” (Image: Sotheby’s Watches)
Two other examples of pulsation dials have been photographed, one with a silver Arabic dial and luminous hands in rose gold and the other with a silver Arabic dial without luminous hands
Sets
The most prominent known complete set of 5004s in yellow gold, rose gold, white gold, and platinum was once again brought to light by Hodinkee. In this Talking Watches, it was revealed that American collector Jason Singer not only owns a steel 5004 that he fitted to a vintage 1957 stainless steel “beads of rice” bracelet by manufacturer Gay Freres, but he also was able to commission not only one but two sets of 5004s (in addition to the successor to the 3970, the ref. 5970). Only one example of the watch was shown on the site, but Singer said that he drew inspiration from the watches made for Eric Clapton (and later Michael Ovitz), with a Roman numeral XII, dot markers for the hours, and a tachymeter scale for timing speeds. The example shown on the website also features a bracelet. No full set of 5004s has ever been offered publicly as a single lot.
Summary
There’s no question that the reference 5004 is perhaps one of the most important watches made by Patek Philippe in the late 20th and early 21st centuries. It represents the encapsulation of everything that has made the brand the most dominant force in watchmaking over the same time. From its elegant, compact design to its historically minded yet tone-setting horological engineering, the 5004 has proven itself as the perfect combination of classic dressiness and aggressive sportiness. The era in which the watch was born gave rise to other greats from Patek Philippe, such as the reference5016. But with an incredible variety of dials, continual improvement over its lifespan, and iconic connections, it undeniably stands alone as one of the most collectable watches in Patek Philippe history.
By John Clarke for Daniel Bourn.
John Clarke is a internationally recognised photographer, watch journalist and editor.
© Copyright Daniel Bourn www.danielbourn.com
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