Patek Philippe MoonPhase Reference 2438

Aug 30, 2024

Patek Philippe rare perpetual calendar wristwatch ref. 2438-1

Patek Philippe 18K yellow fresh-to-market gold perpetual calendar, made in 1959 and sold in 1963

The ref. 2438-1 was made from 1952 until 1963. Less than 50 examples in both 18K yellow and rose gold were produced in total. Approximately half of these have ‘resurfaced’ to date. This 18K yellow gold example is fresh-to-market, beautifully preserved, and offers the opportunity for a collector to own one of the rarest of all vintage Patek Philippe perpetual calendar references. At 37 mm, with a screw-back, water-resistant case, this is a wearable work of art for the modern wrist.

The incredible reference 2438/1 is, without a doubt, one of the most sought-after and rare Patek Philippe references of all time. First introduced in 1952, as a successor to the Patek Philippe reference 2497 (introduced in 1951), the watch featured a waterproof case thanks to a screw-on case back. The 2438/1 and 2497 were the first and only sweep centre-seconds perpetual calendars available on the market, up until 1993. Additionally, at the time, alongside the grail reference 2499, they were the only perpetual calendars available on the market, making them the most prestigious wristwatches that one could own.

1950’s Patek Philippe Perpetual Calendar Advertisement

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The 2438/1 houses the Patek Philippe manual wind calibre 27 SC perpetual calendar movement and, according to archives of Patek Philippe and the deep study documentation by Tortella & Sons, only 65 out of the 180 calibres 27 SC were cased in reference 2438/1, with the other 115 utilized in the 2497. This suggests, therefore, that the Patek Philippe reference 2438/1 is the rarest of all perpetual calendar wristwatches produced in series, averaging a production of five examples per year. It was made only in yellow or pink gold with an estimated 50 cases in yellow and 15 in pink. To date, 29 out of the 50 yellow gold cases have surfaced on the market and only seven out of the 15 pink gold examples are known.

In the exceptional deep study documentation by Tortella & Sons, it states the following sentences regarding the pink gold examples of 2438/1R: “All ref. 2438/1R bear ‘bullet’ hour markers (2nd series) and only 2 bear a luminescent dial feature. There are not any ‘Arabic’ hour markers (1st series) on pink gold cases, known so far.”

Monaco Legend Group is honoured to present, for the first time for sale, an extraordinary and very possibly unique 1955 Patek Philippe reference 2438/1R first series in pink gold with an incredible configuration of oversize ‘Arabic’ numerals indexes dial. The present watch is accompanied by a phenomenal set of receipts and letters from several services at Patek Philippe, as well as further documentation that, together with our research, gives us reason to believe that this special reference 2438/1R was commissioned in 1955 by Mr Otto Gerhard Friedrich Bovensiepen. A gentleman from Germany, who was resided in the city of Essen, the watch has his name engraved on the case back. Additionally, the original ID from the period is preserved and accompanies the watch.

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One of the earliest dated documents of revision we have is from November 3rd, 1983, where Mr. Otto Bovensiepen sent the watch to Patek Philippe Geneva for a full revision that cost 440 Swiss Francs.

The many receipts and letters of revision and service at Patek Philippe that took place at the end of the 90’s and early 2000’s are under the name of Mr. Otto Bovensiepen’s son, Bernhard. Bernhard, a businessman living in Munich, inherited the watch from his father and was aware of its importance, cherishing it by regularly servicing the timepiece and making sure he kept it in perfect working order.

The present watch was recently found in Germany and the last dated document we have is the letter of request to Patek Philippe of its current Extract From The Archives in July 2021.

We are incredibly pleased to be presenting this monumental example of the rarest of all perpetual calendar references by Patek Philippe at the upcoming Exclusive Timepieces Sale this 19th and 20th of October 2024. This watch is the eighth reference 2438/1R to be discovered and to appear on the market, however the only pink gold example in a first series case to feature ‘Arabic’ numerals indexes and the only example of all ref. 2438/1 was discovered to bear ‘oversize Arabic’ numerals indexes dial, specially requested with blued ‘baton’ hands for greater readability. Designed for an important German businessman and carefully taken care of throughout its entire life, this is a true once-in-a-lifetime opportunity.