Patek Philippe 5205 Annual Calendar: 10-Year Review

gary_g · 2024-06-03T22:43:00Z

Explore the Patek Philippe Ref. 5205's journey to classic status. A 10-year owner and collectors debate its value, design, and future appreciation.

gary_g

WPS member · Patek Philippe forum

27 replies7193 views1 photos

Gary_g's decade-long ownership of a Patek Philippe Ref. 5205 Annual Calendar prompts a fascinating discussion on its long-term market trajectory and potential for 'classic' status. This article explores whether its distinctive design and caliber will secure its place in horological history, offering valuable insights for collectors considering the enduring appeal of Patek Philippe's contemporary references.

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Especially its value. I asked this group earlier today for the price list for PP watches in 2014 (year I purchased the watch). The list back then was 42300 (I bought the watch at a discount - something unheard of now). The current version is listed on the PP website for 57620. With my discounted price it’s > 20k swing.
But the question I have for the group is whether this model will continue to mature and become a “classic” reference or will it be forgotten as soon as it’s discontinued (which hopefully happens soon since it’s been out for over 10 years). I appreciate your thoughts and feedback.

About the Patek Philippe Annual Calendar Ref. 5205

Patek Philippe Reference 5205

The Reference 5205 represents Patek Philippe's annual calendar offering within the complications category. This 40mm timepiece displays day, date, month, moon phase, and 24-hour indication, positioning it as a multi-function dress watch that requires adjustment only once per year at the end of February.

The 40mm case is available in 18k white gold, 18k rose gold, or platinum, featuring a smooth bezel and sapphire crystal with 30-meter water resistance. The automatic Caliber 324 S QA LU 24H provides 45 hours of power reserve. Each example comes fitted with a leather strap and deployant clasp.

In production from 2010 to present, the 5205 appeals to collectors seeking Patek Philippe's annual calendar complication in a contemporary case size. The availability across three precious metal options allows for different aesthetic preferences while maintaining the same movement and case proportions throughout the reference's production run.

Specifications

Caliber: 324 S QA LU 24H

Case: 18k White Gold, 18k Rose Gold, or Platinum

Diameter: 40 mm

Water Resist.: 30m

Crystal: Sapphire

Key Points from the Discussion

The Patek Philippe Ref. 5205 has unique pros and cons influencing its 'classic' potential: its 40mm size might be a 'con' given the current trend towards smaller watches, and its long production run makes it relatively easy to source. However, it was the first reference to feature carved lugs and this specific annual calendar dial display, making it historically significant.
While all mechanical watches generally appreciate over time, Patek Philippe references typically mature and see significant appreciation decades after discontinuation.
Some enthusiasts find the aperture display on the Ref. 5205's dial distracting or cluttered compared to the cleaner aesthetic of the Ref. 5396, which might affect its broader appeal.
The 324 caliber, used in the Ref. 5205, is a mature movement, having been in production for approximately 28 years and featured in many Patek Philippe pieces. However, the discontinuation of a reference alone does not guarantee its 'classic' status or significant price appreciation.
The author finds the 40mm size of the Ref. 5205 ideal, appreciating its dial design and gorgeous lugs, and believes the movement is perfectly suited for the watch's price point.
The continued dominance of sports watches, driven by more casual lifestyles, suggests that demand for dressier watches like the Ref. 5205 may not see significant growth, leading to steady but not exceptional value appreciation.

The Discussion

Chronometer (aka yacomino)

Jun 3, 2024

I am not a Patek expert but I think its a unique design even today and some version are still part of the current catalogue.

The way the complication is displayed will continue to be unique and to some degree iconique in its own way IMHO

gary_g

Jun 3, 2024

I love that perspective.

This is what attracted me to this watch in the first place. I think this design makes the dial look more “clean”.

Chronometer (aka yacomino)

Jun 3, 2024

Totally! You look at it and it can only be a Patek! So in some ways that will stay! Your's look in pristine condition!

Did you have any service done on it?

gary_g

Jun 3, 2024

Serviced last year.

No polish of course.

ZSHSZ

Jun 4, 2024

Let me start with stating that I’m just an enthusiast!

I also don’t have a crystal ball, but it has pros and cons! The cons are the size 40mm, which if you take in consideration the direction of small (girl sizes in my opinion), don’t makes it attractive(for now)! Also a con is the fact that it’s a long running reference so there’s relatively speaking, easy to source. As far as the pros go, it’s the first reference with the carved lugs(AP 11:59 are you listening?) and also the first annual calendar with this dial display… Every mechanical watch in g

gary_g

Jun 4, 2024

Thank you for your thoughtful reply.

I definitely agree with your assessment. For me 40 mm is an ideal size of a watch. I tried several 36 mm watches and although loved them, they just didn’t feel right. I know many people who feel that 40 mm is too small so from That perspective in my opinion 38 to 40 mm is about a perfect size for a watch. I also really love this dial design. The lugs are gorgeous. The movement could be better decorated, but it is not a complicated tech so I think it’s just perfect for the price of this watch. My