Aside from the fact that this reference is classic Patek at its finest, the Ref. 5970 perpetual calendar chronograph is a pivotal piece in the company’s history. It marked a passing of the baton of sorts. In Patek Philippe: The Authorized Biography by Nicholas Foulkes, current Patek Philippe president, Thierry Stern, described the Ref. 5970 as a final test by his father, Philippe Stern, before passing on stewardship of the company to his son. It was released in 2004, five years before Thierry Stern would officially take over the company. Today, it is regarded as one of the most collectible modern Patek Philippes.
When it debuted a decade ago, it replaced the perpetual chronograph Ref. 3970, a revered model which had been part of the Swiss manufacture’s collection for 18 years. It is the last of the Nouvelle Lémania 27-70-based calibers (extensively reworked by Patek Philippe) before the company began producing the next-gen chronos with in-house movements. It was really standard practice for watch companies to work off of ébauches (raw movements) and add their personal touch to them, but it quickly went out of practice as digital media gave voice to collectors demanding in-house movements. Nevertheless, today collectors fawn over the reference in reverence to its roots, as well as its beauty. Only 2,800 examples are thought to have been made, which also makes it relatively accessible as far as highly collectible Pateks go.
From the article by Allen Farmelo, Paige Reddinger, Victoria Gomelsky, Oren Hartov, Blake Buettner
