Patek Philippe 5020 5021 Perpetual Calendar Chronograph
Reference Guide

Patek Philippe 5020 5021 Perpetual Calendar Chronograph

By quattro · Mar 22, 2025 · 26 replies
quattro
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Emmanuel, known as quattro on WatchProSite, delves into the Patek Philippe Perpetual Calendar Chronograph references 5020 and 5021. His comprehensive post highlights the unique cushion-shaped case and rarity of the ref. 5020, positioning it as a distinctive piece within Patek Philippe's storied perpetual calendar chronograph lineage. This article explores why this reference, once an 'ugly duckling,' has garnered increasing appreciation among collectors.

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The perpetual calendar chronograph is a complication very intimately linked to the history of Patek Philippe.

Among the most celebrated references are the 2499, the 3970 and the 5970. For whatever reason, the ref. 1518 and 5270 seem to be a little less sought after.

But, during the lifespan of the 3970 (from 1986 to 2004), another reference came to birth, which has had a very limited success due to its cushion-shaped, TV-style case: the ref. 5020.

It was introduced in 1994/95 and closed its production run in 2002. It’s believed that Patek only brought somewhere between 200 to 250 examples of the ref. 5020 to market, in all configurations and case metals, during the model’s short eight-year lifespan. By comparison, its closest sibling, the ref. 3970, is believed to have reached a total of approximately 3,600 examples over 18 years. So the ref. 5020 is easily the rarest of Patek Philippe’s four modern perpetual calendar chronograph references (3970, 5020, 5970 & 5270).

Among the total of examples made, approximately 200 examples were made combined in all the gold metals (yellow, pink, white gold), and another 20-plus pieces were created in platinum. There are also a number of unique pieces in all four metals that are known, most of which were made for Michael S. Ovitz. These Ovitz pieces come with a tachymeter scale and leaf lumed hands, whereas regular dials of the 5020 are typically defined by the use of applied Breguet hands and numerals and do not have a tachymeter scale.

The gold versions of the 5020 were delivered with both a solid and an exhibition caseback, while for unknown reasons, the platinum examples were only delivered with solid casebacks.

The case measures 37 x 45 mm and was made for Patek Philippe by Atelier Réunis, a workshop that historically made some of the brand’s most important case designs.

The movement inside the 5020 was identical to what was found inside the 3970, the manual-wind Lemania-based caliber 27-70 Q.

Some examples came with a matching five-link brick-style bracelet

Lastly, a gem-set version of this reference was made: the ref. 5021.

I personally like this reference very much, especially the regular version with Breguet numerals and hands and without a tachymeter scale. For my personal taste, the first example in rose gold is simply gorgeous.

Thanks for reading (a very helpful essay by Logan Baker for Phillips can be found here).

Best, Emmanuel


A/ REF. 5020

1/ ROSE GOLD

a/ Ref. 5020R













credit: Sjx





credit: @mentawatches 





credit: quill & pad & @john.lydon


b/ Ref. 5020/1R special piece made for Michael S. Ovitz with leaf lumed hands and tachymeter scale ('MSO' can be seen at 6 o'clock, just above the 17-15)



credit: @watchguru


2/ YELLOW GOLD

a/ Ref. 5020J

















credit: watch club London & Sotheby's (last photo)


b/ Ref. 5020/1J-001



credit: Sotheby’s


c/ Ref. 5020/1J special piece made for Michael S. Ovitz with tachymeter scale and leaf hands with lume





credit: @dax2499 & @_1_5_1_8_


3/ WHITE GOLD

a/ Ref. 5020G





















credit: @horology_ancienne









credit: @bobmaron (1), phillips (2), European watch company (3) & bachmann & scher (4)


b/ Ref. 5020G-015 special piece made for Michael S. Ovitz with tachymeter scale & leaf hands (with lume)















credit: @jonbinla (1), @l951.1 (2) & Sotheby’s (3-6)


c/ Ref. 5020/1G



credit: @_1_5_1_8_


4/ PLATINUM

a/ Black dial & Breguet numerals and hands (5020P)









credit: phillips


b/ Black dial & Diamond indexes and Breguet hands (5020P)











credit: Sjx





credit: @watchguru





credit: bachmann & scher 
  





Diamond platinum with rose gold (1-2) & with rose and white gold (3) (credit: wristcheck, Pinterest, & @watchtime_germany)


c/ Salmon dial & Diamond indexes and Breguet hands (first model with bracelet, ref. 5020/1P, second model with strap, ref. 5020P)













credit: phillips & robert maron (last photo)


d/ Blue dial with leaf lumed hands and tachymeter scale, special piece made for Michael S. Ovitz (5020/1P)





credit: sotheby’s


B/ REF. 5021 (gem set version of the 5020)

1/ 5021R with salmon dial (rose gold)







credit: @watchguru & robert maron (last photo)


2/ 5021P (platinum)







credit: gioielleriabonanno & @jonbinla (last photo)


3/ 5021J (yellow gold - only known example)









credit: phillips 

About the Patek Philippe Perpetual Calendar Chronograph Ref. 5270

The Patek Philippe Grand Complications reference 5270 is a perpetual calendar chronograph, succeeding the highly regarded reference 5970. It represents a significant evolution in Patek Philippe's grand complications lineup, being the first perpetual calendar chronograph to feature an in-house developed movement. This transition from a modified Nouvelle Lemania base caliber to a fully integrated Patek Philippe movement marks a notable advancement in the brand's technical independence and horological prowess. The 5270 maintains the classic aesthetic of its predecessors while introducing subtle design refinements.

The reference 5270 is housed in a 41 mm case, available in 18k white gold, rose gold, or yellow gold. The case design is characterized by a concave bezel and two-tier lugs, contributing to its distinctive profile. It is powered by the manual-winding caliber CH 29-535 PS Q, an integrated chronograph movement with a perpetual calendar mechanism. This movement offers a power reserve of approximately 55 hours and is protected by a sapphire crystal, ensuring water resistance up to 30 meters.

This reference appeals to collectors seeking a modern interpretation of a classic grand complication from Patek Philippe. Its in-house movement and refined case details distinguish it within the brand's offerings. Multiple dial variants have been produced, including silver, blue, and opaline, providing collectors with a range of aesthetic choices. The 5270 continues the tradition of Patek Philippe's perpetual calendar chronographs, offering a blend of technical sophistication and traditional design.

Specifications

Caliber
CH 29-535 PS Q
Case
18k White Gold, Rose Gold, or Yellow Gold
Diameter
41 mm
Dial
Multiple variants available
Water Resist.
30m
Crystal
Sapphire

Key Points from the Discussion

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The Discussion
SE
seabas132
Mar 22, 2025

The 5020R looks great, but the J yellow gold example here is so clean and elegant. I appreciate the different case shapes when it works like here. Different enough without being a caricature.

QU
quattro
Mar 22, 2025

Thanks for looking. Best, Emmanuel

GL
GLau
Mar 22, 2025

"TV screens" are lovely and under-appreciated ! Why ?

QU
quattro
Mar 22, 2025

getting to the heart of most collectors because they don't look sporty. But I think there's something specific to the 5020: the absence of tachymeter scale, which makes this watch even more dressy or even less sporty than other chronographs. Shaped + dressy=limited love... Just my 2 cents, of course. I personally like it a lot, though. Best, Emmanuel

GO
Goh
Mar 22, 2025

These are quite attractive, but non-round watches don't sit well on my wrist.

QU
quattro
Mar 22, 2025

I'm sure the J looks fantastic too. I just respond to the warmth of rose gold more immediately in general. And yes, different design, yet very convincing. Best, Emmanuel

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