The property of a highly important collector for the past almost two decades, the reference 2438-1 is a super-rare model, of which only around twenty-nine examples in yellow gold are publicly known. Very seldom offered at auction, the legendary reference 2438-1 must be considered, along with the references 1518, 2497 and 2499, amongst the most iconic and sought-after of Patek Philippe’s “golden-age” complicated wristwatches.

A notable aspect of the present watch is that the movement is engraved with the ‘HOX’ mark on the balance bridge of the movement. This mark was used especially for watches to be exported to the United States. This Patek Philippe classic with excellent provenance and in very good original overall condition is a superb mid-century vintage trophy watch, as great to wear today as it was in 1963 when it was sold.

The Dial: By Stern Frères, on a gold plate base, opalin-mat-silver finish, engraved-enamelled signature and scales. The applied markers and hands are yellow gold, the centre seconds hand is flame-blued steel. The engraved-enamelled English date is on silvered gold calendar disks, the moon phase wheel is gold overlaid with champlevé blue enamel.

The Case: By master case maker Wenger, Geneva, whose mark of a number 1 within a key is found in the back of the case. Also marked inside with the maker’s signature, serial numbers, gold marks and Swiss (Geneva) hallmarks.

The Movement: The calibre 27 SC Q was launched in 1951. It was based on the in-house 27 SC (launched in 1950) to replace the 12 120 SC. This movement was produced by Patek Philippe until 1970. Like its predecessor, the 12 120 Q, the perpetual calendar feature was added by Les Fils de Victorin Piguet workshops. It is a simple evolution of the 1891 patent by Patek Philippe on perpetual calendars and it was Victorin Piguet, then his sons, who always supplied and mounted this speciality mechanism. The calendar disks and the moon phases wheel were made by Stern Frères because these required the experience and know-how of a dial-maker.

Reference 2438-1 was produced between 1952 and 1963 and only available in either yellow or pink gold. It was in fact made as a water-resistant variation of the more familiar reference 2497 which is fitted with the same movement and dial. Supplied by Wenger, one of the best case makers in Geneva, the case of the 2438-1 is fitted with a screw down back as opposed to the 2497s snap on back and is 0.7 mm smaller with a still impressive diameter of 37 mm. - oversized at the time of its first inception, but totally in line with today’s standards.

The references 2438-1 and 2497 were the first and only sweep centre seconds perpetual calendar watches produced by Patek Philippe right up until the launch of references 5050 and 5059 nearly forty years later in 1993.

The aesthetic impact of the reference 2438-1 largely stems from its iconic lugs, defined by the carved groove to the upper outer edges, a feature it has in common with the reference 2499. This detail transfigures the overall look of the watch imbuing it with a subtle yet stately importance leaving no doubt that one is in the presence of one of watch collecting’s all-time classics.

The present watch is from the model’s second series with a second series Mark II dial. The first series reference 2438 is recognized by its applied Arabic numerals and feuille hands. The second series, such as the present, can be found with two dial variations: Mark I - with applied five-facet ‘bullet’ baton numerals and dauphine hands; Mark II – with shorter four-facet baton numerals.