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Updated on 14 November 2026 : at the sale on 8 and 9 November 2026 in Geneva, the first numbered Patek Philippe Ref. 3970 sold for CHF 2,048,000, fees included. Sotheby’s calls it an auction record for the reference, according to Haute Time.
Background
On 28 October 2026, Le Point devoted an article to the sales by Sotheby's devoted to the history of watchmaking. The “Important Watches” sale takes place on 8 and 9 November 2026.
The key points
According to Luxe.net, Sotheby's is presenting what it believes to be the first numbered Patek Philippe ref. 3970 . This perpetual calendar chronograph, made in 1986, is estimated at 1 to 3 million francs.
The ref. 3970 succeeded the ref. 2499. It abandons the Valjoux-based calibre for the calibre 27-70 Q, based on a Lemania movement. According to the watch press cited by Luxe.net, the watch was reportedly sold in 1987 by the Patek Philippe shop on Rue du Rhône.
Luxe.net says it was unable to cross-check these provenance details with the official catalogue.
Key figures
- 1 to 3 million francs : estimate for the Patek Philippe 3970
- CHF 2,048,000 (2,298,560 dollars): hammer price of lot 88, including buyer’s premium, according to Haute Time
- Around 100 : examples of the first series, produced for around two years, according to Sotheby’s
- 1986 : year of manufacture
- 8 and 9 November 2026 : dates of the Important Watches sale in Geneva
Further reading
Sources
- Haute Time – The First Patek Philippe Ref. 3970 Sells for $2.3 Million at Sotheby’s
- Le Point – In Geneva, Sotheby’s sells the history of watchmaking at auction
- Luxe.net – The first Patek Philippe 3970 has resurfaced at Sotheby’s Geneva, estimated at 1 to 3 million francs
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