Patek Philippe

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A modern classic

Launched in 1986, the Ref. 3970 has become a cult watch for collectors.  It replaced the illustrious predecessors Ref. 2499, and Ref. 2499/100 (fourth series). Aesthetically it shared the look of the 2499 but in a smaller case, now 36mm. The movement was a reworking of the now famous (infamous? J ) Nouvelle Lemania, cal. 27-70.

The new ref.3970 also offered technically more in the way of two added complications, namely the leap year indication and 24 hour indicator.

At its launch, the 3970 was perhaps the hottest property in the world. I still remember vividly the phone call I made to a very large Patek AD in 1990. The salesperson, very friendly and knowledgeable! Explained the retail price was £36,000 and the waiting list….ran to 5 years. Infact the demand for the 3970 never really let up, apart from the crash in the mid 1990’s in the Far East markets. Prices did tumble of the 3970 as many pieces heading Far East returned back to Europe. Then there was the “in house” movement brigade. There appeared among some collectors dissatisfaction about the movement (ironic that all Patek chrono movements had a “foreign” base caliber). 

This philosophy soon changed when it became apparent that Lemania movements would stop! Then demand once again increased, no doubt some fuelling by speculators and the forthcoming demise of the 3970. The result, the movement has become a legend in its own right J

There are three series or variations in the production of Ref. 3970 that collectors maybe interested in.

Highly desired is the “first series” case with a snap-on case back. This particular model is considered rare as it is rumored to have been produced in less than 100 examples principally from 1986. They also had two tone dials with leaf hands. It may be possible that for the first generation there may have been a special request dial as Patek were still making these requests possible in the 1980’s.

The second series featured a solid screwed back, baton hands and plain silver dials.

After the second series, Patek Philippe introduced the Ref. 3971, comparable in design to the 3970 but with a sapphire crystal display screwed back.

The third series is identified as the 3970E (E stands for étanche which means waterproof) and is the most common seen. These were available with both solid and sapphire case back.

There were some 3970 made with integral bracelet (extremely rare), and very few 3970E with special dials, salmon pink, or with Arabic numbers (from the 5004 ref.) for examples. These are rare and sought after variations.

Probably the most plentiful of all the historic perpetual chrono’s made by Patek; the 3970 has in its own right become a modern classic and thoroughly deserves the praise that Patel lovers bestow upon it.

Pictures from Antiquorum