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Patek Philippe Perpetual Calendar Chronograph ref. 5020 & 5021
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
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
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Patek Philippe Perpetual Calendar Chronograph ref. 5020 & 5021
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 ...
Wonderful analysis, as always, Emmanuel.
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.
Thank you so much.
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
My guess is that non-round watches are always having a hard time
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 + dres...
Great post as usual, Emmanuel.
These are quite attractive, but non-round watches don't sit well on my wrist.
Fantastic job!
That's the Patek I like. Give me a 5940 (that I like even more) and I don't need anything else.
Exactly! I agree that the 5940 is a stunner too.
It’s just that the perpetual calendar chronograph complication is very iconic and quintessential for PP. Thanks for the kind words. Best, Emmanuel
Huge thank you for sharing
Wish I could save this thread on WPS, but a bookmark works as well. Have a good weekend.
A very nice model the 5030!
I just wish there was no date. Just my personal feeling of course.
Absolute grail watch, especially in yellow gold...
...ironic that one of the reasons it's so valuable is because it was unloved upon release...
Emmanuel, another incredibly detailed and pictorially beautiful report on the relatively rare Patek 5020! While it would seem highly improbable that there would be so many variants
of this very low production and initially decidedly unpopular watch your report shows the error of thinking that way. I remember how during it’s run it was thought of as being an “ugly duckling” by most. Initially, I felt that way too. About the time its ...
Dear Patekova, thank you for sharing this photo of the 5020P which was once yours.
Thank you also for sharing your knowledge about the yellow/blue moon disc of the early versions: it’s a detail I didn’t know at all. I definitely like the design of this watch: no tachymeter scale, Breguet numerals and hands, cushion-shaped case: it’s ver...
Thank you Emmanuel for your reply and also posting the additional images. From my research and my general impression
while I don’t know the numbers definitively, I would go along with HA’s assessment.. Best, Patekova
Emmanuel, I think perhaps you may be not giving the 1518 its rightful due in referring to it being a little less sought after than 2499, 3970 and 5970..
I guess it also depends on how you define “less sought after” and who might be seeking it. There are certainly more collectors of modern Pateks than vintage but the demand among big time vintage Patek collectors for 1518 is intense and this can easily be ...
Thank you for correcting my statement
with such eloquent numbers. Putting the 1518 together with the 5270 was a bad idea indeed and I will modify my statement. As for the 5270, I couldn’t agree more with you and will post about my recent brief hands on experience with it tomorrow: when I trie...
Emmanuel, in a literal sense I think your original statement about 1518 IS correct. More people are looking to buy 3970/5970.
That said I think the 1518 is a much more important watch historically and extremely rare to find especially in mint condition. I have seen many. My impression is that only a relatively small percentage are in unpolished mint condition. I very much look f...
Thanks for this
I really enjoyed all the various versions Like you I like the regular versions best with the breguet numerals and hands. I do like cushion shaped cases eg radiomirs, heuer camaros but here I do struggle with how the lugs just blend into the case.. like so...
I understand your point, even if I personally like the 'one piece' design.
Thanks for sharing your thoughts. Best, Emmanuel
A great, sorta quirky Patek, quattro.
Amazing variety... If I could, I'd opt for this reference on a bracelet.