Two Rare Patek Philippe Perpetual Calendar Chronographs

If ever you wanted a snapshot of how Patek Philippe has evolved over the last few decades, the transition from the mid-90s ref. 5020 to the ref. 5271 from 2014 gives a keen insight into how the brand has evolved its approach to high-complication watchmaking. Let’s take a look at these two references and why they matter.

Patek Philippe Perpetual Calendar Chronograph Platinum Ref. 5020P & Rose Gold Ref. 5020R

In a year when The Lion King topped the box office and Green Day’s Dookie was the album of the year, Patek Philippe announced a new member to its legendary line-up of perpetual calendar chronographs. The ref. 5020 made its debut in 1994 to mixed initial reactions, with many clients struggling to understand the appeal of the “TV Screen” cushion-shaped case and as a result, only around 300 pieces of the reference were ever produced. 

Today, this early lukewarm response has translated into a relatively modern Patek Philippe that’s in the same realm of rarity as some of the earliest complicated references from the brand. Estimates from auction houses and dealers believe between 120 and 150 pieces were cased in rose gold and another 100 or so in white gold, leaving the remainder of the total number in yellow gold and platinum. Unsurprisingly, platinum is understood to be the rarest metal the ref. 5020 was cased in. 

The cases of the ref. 5020 measure an approachable 37mm in width (while the long lugs mean it measures 45mm in length) and were produced by the Ateliers Réunis firm that Patek Philippe acquired in 1975. Today, the building where Ateliers Réunis once produced cases is home to the official Patek Philippe Museum, but for several decades before the turn of the millennium, it was the site of case-making for Patek Philippe and several other brands, as well as being a location where Jean-Pierre Hagmann worked. As collector’s taste evolved, the ref. 5020 is one where we see almost all examples featuring an exhibition caseback to show off the wonderfully finished manually wound movement within.

Present in both the ref. 5020R and ref. 5020P we see here, the Lemania 2310-based caliber CH 27-70 Q was one of the most important movements for Patek Philippe, and was the same movement used in the iconic ref. 3970 and 5970. It was also an important movement for Patek Philippe as it was the last perpetual calendar chronograph movement used by the Genevan watchmaker that wasn’t produced entirely in-house, marking the end of an era for the brand. Boasting a calendar module paired with a column-wheel actuated chronograph with a rattrapante function, it offered a healthy 60 hours of power reserve and was stamped with the Geneva Seal. 

There were several different dials that the ref. 5020 left the factor with, however, the two examples we see here offer a look at a “classic” ref. 5020 dial and a rarer example. The rose gold example is the more common of the two, but is undeniably beautiful thanks to its elegantly curved applied Breguet numerals and Breguet hands in rose gold, which work wonderfully against the slightly textured silvered dial. 

In contrast, the glossy black dial of the platinum reference is one of only a handful known to exist thanks to its diamond-set hour markers (other platinum examples with black dials also featured Breguet numerals). The calendar and chronograph register layouts of both dials are otherwise the same, however, the dial with diamond markers brings a relatively pared-back impression to the wrist when you consider the amount of information being communicated by the dial. 

Despite being unpopular with collectors when it was first released, today the Patek Philippe ref. 5020 is a true connoisseur’s watch and one that requires a depth of taste and understanding to fully appreciate.

Patek Philippe Perpetual Calendar Chronograph Platinum & Diamond-Set Ref. 5271P-001

The mid-90s might have seen the launch of the slightly flamboyant ref. 5020, but by 2014 Patek Philippe had returned to its traditional DNA with the announcement of the platinum-cased ref. 5271. As was the case with the ref. 5020 and several other references from Patek Philippe, platinum grand complication timepieces are often paired with diamonds and a black dial, and this in-production ref. 5271 is no exception (though there are also ref. 5271 examples with blue sapphires and rubies instead of diamonds). 

As an elevated interpretation of the ref. 5270, this watch features no less than 81 baguette-cut diamonds that total 5.01 carats and sparkle brilliantly against the platinum case. Paired with its lacquered black dial, we have a watch that unmistakably means business without giving the impression of being over-the-top or gauche, and arguably keeps its best features within the details of the dial and case. 

The platinum case measures 41mm in diameter and features elegantly long lugs, with a scalloped detail that adds a level of dimension beyond the baguette-cut diamonds. The rectangular chronograph pushers have an appealing muscularity to them and the case is secured with an exhibition back that offers an uninterrupted view of the movement within. 

The movement in question is the in-house CH 29-535 PS Q calibre (the first of its kind from Patek Philippe), which enjoys a combined six patents behind its construction and features both a column wheel and horizontal clutch. With a case that’s just 12.7mm in thickness, the movement is impressively slim when you consider its complexity, while the finishing is at the near-peerless level you’d expect from Patek Philippe. 

A timepiece with all the hallmarks of a future classic, the Patek Philippe ref. 5271 in platinum is a watch you’ll never be able to forget once you’ve had it on your wrist.