Patek Philippe

“Bird law in this country is not governed by reason.” – Charlie Kelly

The Patek Philippe 3940 is among the loveliest references of the past fifty years and, in this author’s opinion, is perhaps the reference that best represents what the brand is today. It is balanced. It is complicated. It is thin. It is restrained. It oozes charm. It feels like Patek Philippe, full stop.

Patek Philippe produced the 3940 from 1985 until 2007. Due to that lengthy production run, there is a reference for everyone. The price sensitive buyer can buy-in to 3940 ownership with a lightly polished example from the third or fourth series. The vintage-obsessed buyer can get some of the vintage Patek Philippe charm, grave accent and old-timey font and all, from the first series. And the buyer who has it all can target the handful of first series Beyer co-branded examples that rarely come to market. And I have not even mentioned the salmon Saatchi dial variant or the variants with blue dials in platinum cases. The 3940 is as democratic as a perpetual calendar can be.

The pictured watch, new to me, is different for a few reasons. Most significantly, it is not a 3940 – it is a 3941. The 3940 and 3941 share the same dial and case. There is but one distinction: the 3940 only featured a solid caseback and the 3941 only featured a clear caseback. Patek Philippe discontinued the 3941 in 1990 and, thereafter, began offering the 3940 and 3941 with solid and clear casebacks. Approximately 35 examples of the 3941 are known today – although who knows what the actual number is. Otherwise, the dial is an early second series dial which lacks the crosshair divided that subsequently appear on the reference 3940. And the pictured watch is a so-called “doré” dial which reads as a lovely shade of rosy champagne. Curiously, the dial description on the extract for this watch differs from the dial description on the excerpt for the second series 3940 with the “doré” dial color. However, to my eyes it appears the “doré” dial colors are the same.

This is the only 3941 with a second series “doré” dial that I have seen. Personally, I do not find the distinction between the 3940 and 3941 meaningful – same darn watch with a different caseback. However, it is interesting because it represents that inflection point where the solid caseback died and clear caseback became ubiquitous. Finally, this particular watch is in a glorious, unpolished condition.

So, to bring this full circle: I struggled to justify the premium associated with the “doré” dial color. An early second series 3940 in gold, with the standard opaline dial, is a stunningly beautiful watch and is about 1/3 of the price. That is the reasonable option and that option is easy to justify. Indeed, most variants of the 3940 remain a remarkable buy – particularly when they are compared to modern Patek Philippe perpetual calendars that are poorly designed and extend into six figures. However, there comes a time when watch buying – just like bird law – is not governed by reason. It is about the chase for something that really pulls at your heartstrings. In this instance, it came down to that simple fact. My decision was not governed by reason. It was governed by emotion.