In this insightful article, quattro provides a detailed visual comparison of two iconic Patek Philippe perpetual calendars: the Ref. 3940 and its successor, the Ref. 5140. His meticulous curation of images highlights the subtle yet significant design evolutions between these references, offering a valuable resource for collectors and enthusiasts alike. This exploration is essential for understanding the lineage and aesthetic nuances of Patek Philippe's perpetual calendar tradition.
Being exhaustive with the 3940, introduced in 1985, is almost impossible because of the 3 different series (1985, 1987, 1995): for a comprehensive approach, check, for example,
Collecting the 3940 on Twain Time.
The 5140 was introduced in 2006 as a modern update to the 3940.
I decided to put the Roman numerals variants of the 3940 at the end, together with the 5038G.
Enjoy!
3940

3940J (Credit: windvintage.com)

3940J with doré dial (credit: hairspring.com)
Beyer 3940J (credit: hairspring.com)
3940J 'Michael Steven Ovitz' bespoke piece (credit:
Christie's)

3940R (Credit: windvintage.com)
3940R Piece Unique âMichael Steven Ovitzâ (credit: hairspring.com)

3940R-027 âSaatchi Edition" (credit: Sothebyâs)

3940G (credit: acollectedman.com)

3940G-029 (credit: hairspring.com)

3940P (credit: windvintage.com)

3940P-027 (credit: hairspring.com)
5140 
5140J (credit: Amsterdam Vintage Watches)

5140R-011 (credit: Wind Vintage)

5140R-001 (credit: Amsterdam Vintage Watches)

5140G-001 (credit: WeWatches)

5140P-001 (credit: Mr Watchley)

5140P-017 (credit: The Keystone Watches)

5140P-013 (credit: The Keystone Watches)

5140G-011 (credit: europeanwatchco sur IG)
3940 Roman numerals 
3940J with Roman numerals (credit: The Keystone Watches)

Caliber 240 Q (credit: The Keystone Watches)

3940R with Roman numerals (credit: Sotheby's)

3940G-025 (credit: everywatch)

3940P-015 (credit: Michael Ashton)
5038G

5038G (credit: collectability)
About the Patek Philippe Grand Complications Ref. 3940
The Patek Philippe Reference 3940 is a perpetual calendar wristwatch that was introduced in 1985, succeeding the Reference 3450. It is notable for its relatively slim profile and the integration of a perpetual calendar complication in a refined case. This reference became a cornerstone of Patek Philippe's complicated watch offerings for nearly two decades, establishing a design language for subsequent perpetual calendar models. It represents a significant period in the brand's modern history of complicated timepieces.
The watch features a 36mm case, typically crafted from yellow gold, rose gold, white gold, or platinum. It houses the self-winding Caliber 240 Q movement, which is known for its micro-rotor construction, contributing to the movement's thinness and allowing for a slimmer case profile. The movement provides a power reserve of approximately 48 hours. The dial is protected by a sapphire crystal, often accompanied by an interchangeable solid case back and a sapphire display back.
Reference 3940 is highly regarded by collectors for its classic proportions and the enduring appeal of its perpetual calendar display, which includes day, date, month, leap year cycle, and moon phases. It was produced in several series, with subtle variations in dial layout and typography, making early series examples particularly sought after. The reference is considered a benchmark for perpetual calendar watches and remains a significant piece for those appreciating traditional horological complications.
Specifications
- Caliber
- 240 Q
- Case
- Yellow Gold, Rose Gold, White Gold, Platinum
- Diameter
- 36mm
- Dial
- Silver, White, Opaline
- Crystal
- Sapphire
About the Patek Philippe Perpetual Calendar Ref. 5140
The Patek Philippe Reference 5140 is a perpetual calendar wristwatch, succeeding the highly regarded Reference 3940. It maintains the classic Patek Philippe perpetual calendar layout, featuring day, date, month, leap year, and moon phase indications. The 5140 was introduced with a slightly larger case diameter than its predecessor, reflecting contemporary preferences while retaining a traditional aesthetic.
This reference is powered by the ultra-thin self-winding Caliber 240 Q, known for its micro-rotor construction which allows for a slender case profile. The movement provides a power reserve of 48 hours. The watch is presented in 18k white gold, rose gold, or yellow gold cases, measuring 39 mm in diameter, and is fitted with a sapphire crystal. It offers water resistance to 30 meters.
The 5140 appeals to collectors seeking a modern perpetual calendar with a direct lineage to Patek Philippe's established complications. Its production run from 2006 to 2019 saw various dial configurations, including opaline and silvery finishes. The watch is typically paired with a leather strap and a deployant clasp, consistent with Patek Philippe's classic offerings.
Specifications
- Caliber
- 240 Q
- Case
- 18k White Gold, Rose Gold, or Yellow Gold
- Diameter
- 39 mm
- Dial
- Opaline, Silvery
- Water Resist.
- 30m
- Crystal
- Sapphire
About the Patek Philippe Grand Complications Ref. 5038
The Patek Philippe Grand Complications reference 5038 is a perpetual calendar wristwatch, distinguished by its limited production and specific aesthetic characteristics. It is closely related to the reference 3940, sharing a similar overall design language but featuring distinct dial configurations and case materials that set it apart as a specific variant within Patek Philippe's perpetual calendar offerings. This reference represents a particular moment in the evolution of the brand's highly regarded perpetual calendar series.
The 5038 is housed in a white gold case, typically measuring 36mm in diameter. It is powered by the self-winding Caliber 240 Q, a thin movement known for its micro-rotor construction and integrated perpetual calendar mechanism. This movement provides a power reserve of approximately 48 hours. The watch features a sapphire crystal on both the front and the display back, allowing for observation of the finely finished movement.
This reference appeals to collectors seeking a perpetual calendar with a specific dial execution, often featuring Roman numerals, and its limited production numbers contribute to its desirability. It is considered a distinct, albeit related, alternative to the more widely produced 3940, offering a subtle variation in design for those who appreciate its particular details and rarity. The 5038G specifically refers to the white gold variant.
Specifications
- Caliber
- 240 Q
- Case
- White Gold
- Diameter
- 36mm
- Dial
- Silver
- Crystal
- Sapphire
About the Patek Philippe 3940 Ref. 3940G
The Patek Philippe Reference 3940G is a perpetual calendar wristwatch, notable for its self-winding movement and the integration of multiple calendar indications within a relatively understated case design. It was introduced as a successor to earlier perpetual calendar models, offering a more contemporary aesthetic while maintaining traditional horological craftsmanship. The reference is recognized for its balanced dial layout and its role in Patek Philippe's perpetual calendar lineage.
The watch features an 18k white gold case measuring 36 mm in diameter, housing the ultra-thin automatic caliber 240 Q. This movement provides a power reserve of approximately 48 hours and is protected by a sapphire crystal. The dial is typically white or silver, displaying the day, date, month, leap year cycle, and moon phases, along with a 24-hour indicator. Its construction emphasizes a blend of technical complexity and wearability.
For collectors, the 3940G represents a significant perpetual calendar reference from a period of evolving design at Patek Philippe. It appeals to those who value classic proportions and comprehensive calendar functionality without excessive embellishment. The reference was produced in various precious metals, with the white gold variant offering a distinct aesthetic within the series.
Specifications
- Caliber
- 240 Q
- Case
- 18k White Gold
- Diameter
- 36 mm
- Dial
- White
- Water Resist.
- 30m
- Crystal
- Sapphire
About the Patek Philippe Grand Complications Ref. 5140J
The Grand Complications reference 5140J was introduced in 2006 as a successor to the long-running reference 3940. This model continued Patek Philippe's tradition of ultra-thin perpetual calendars, updating the design language while maintaining the core functionality and technical sophistication that collectors associate with the brand's complicated timepieces. It represents a modernization of a highly regarded perpetual calendar lineage.
The 5140J features a yellow gold case, housing the self-winding caliber 240 Q. This movement is known for its slim profile, contributing to the watch's wearable dimensions. The perpetual calendar mechanism displays the day, date, month, leap year cycle, and moon phases, requiring no manual adjustment until the year 2100. The watch is fitted with a sapphire crystal on both the front and an exhibition case back, allowing a view of the finely finished movement.
This reference appeals to collectors seeking a contemporary interpretation of a classic Patek Philippe perpetual calendar. It builds upon the legacy of the 3940, offering a slightly larger case diameter that aligns with modern preferences while retaining the understated elegance characteristic of the series. The yellow gold variant provides a traditional aesthetic within the 5140 family.
Specifications
- Caliber
- 240 Q
- Case
- Yellow gold
- Diameter
- 37.2 mm
- Dial
- Silvery-opaline
- Water Resist.
- 30 m
- Crystal
- Sapphire