Collection
Miranda's captivating narrative traces a two-decade horological journey, beginning with an unexpected encounter with a Patek Philippe Ref. 2499 perpetual calendar chronograph at a Christie's auction. This post beautifully illustrates the evolution of a collector's passion, from a Rolex Oyster Date to the ultimate acquisition of a Patek Philippe Ref. 5970P. Miranda shares the emotional highs and lows of pursuing a dream watch, offering a relatable account for any enthusiast who has chased a grail piece.
It was spring 1990, I had just aquired what was then my dream watch, a steel Rolex Datejust ref 16210, on jubilee bracelet, with white dial and gold Romans. It was fantastically expensive, at £950. I had just qualified, and my salary was a huge £7,000 per year, LOL. So to protect my investment I decided to buy an Oyster Date precision, used.
Dealers were in my opinion asking too much at £400, and a freind of mine told me try an auction. So off I went to Christies. Sure enough they had plenty of Oyster Dates, and watches I had never heard of. surely Rolex and Carier were the summit of fine watch making, after all it takes a year to make a rolex! ;-0 ( I did get my watch...for £265 incl of commision!).
They day I went to bid changed my life forever. You see the most expensive watch in the auction was NOT a Rolex. It was a what? A Patek Philip? never heard of them... the watch went for £55,000. My fathers house was only £45,000 and even a nice house in London was only £63,000. But what a watch....
I fell in love, it was beautiful, gorgeous. From what ever angle you looked at it, it was perfect. It was also one of the most complicated watches I ever saw, the calendar did not even need changing, it even had a moonphase, it was of course a ref.2499
This message has been edited by imran in london on 2010-05-31 13:50:23
Once smitten, all I could dream was that one day I would love to own this watch. i began to research Patek Philippe (not Philip LOL), and soon realised that this was indeed a very special watch. It was perhaps in its day the most complicated serial production watch made by any company. Not only that, but the finishing of the movement was amazing. This was indeed the height of watch collecting, the epitome of excellence, then came the bad news....only 349 pieces. it was made on average in less than ten pieces per year...
Still, I would work hard and this would by my goal....the dream....
But of course this was not just my goal, but of every watch collector, the prices just kept going up. It seemed to running away from me, never to be caught. My attention turned to the new 3970. Aesthetically, it was the smaller brother of the 2499, and carried one big advantage, you could buy it in platinum.
So in 1997, I was so close, to getting it hurts. The 3970p, was ...you will cry when I tell you..£26,000, used. I tried to do the deal, but the dealer would not give more than £12,000 for TWO Rolex Comex, a 5514 and 1665. I pulled out, I thought my peces are woth atleast £14,000 LOL.
For a time I began to regret missing out on the 3970p. Prices began to firm up for 3970 and once again, I felt that my dream Patek would run away from me. Still, you could buy new and it was just a matter of time and saving and selling the wife and kids and I would get there.
Then another bombshell, but this time in a good way... Basel, Patek, 5970. OMG OMG it was amazing.....
I fell totally in love, even more than the 2499, I could not believe it. Rose and white no platinum......I decided to wait..and hope
Then the rumours began, no more Lemania, no more 5970...especially as Patek released the 5971p followed by one year production only of yellow. I began to realise that the wait had failed...there probably will not be any 5970p.
Then about six months before Basel 2009, a close freind and dealer told me of a rumour....that there would a very limited 5970p. What to do......dare one sell most of the collection to fund a watch based on a rumour?
Held my breath....went back to Christies...and in they went. About 2 weeks before Basel, I got very strong feedback..YES YES YES..there would be a 5970P! then the next hurdle....trying to get one.
There was a new manager at PPin new Bond Street, I asked merely to be put on the list, (okay and a lot of begging! LOL)
As the year passed and we went into 2010, I did begin to wonder if it would ever happen.... then it did,
Imran, your watch has arrived.......................
HOLY COW....
and here it is, my pictures are lousy LOL, perhaps its the hand shake every time I wear it..
The 5970p has exceeded all expectations. Aestheically I love it more than the 2499, movement finish is better on the 2499 however, but thats just nit picking.
I love the old school screwback and the contrast in finishes.
It' s taken twenty years for me to finally get my PP perp.cal chronograph, but definately been worth the wait. Its also, something that to be honest I never gave up on. It has in all honesty been possible due to the dramatic increase in prices of vintage Rolex that has made this possible. Also a very understanding wife..;-)
Am I happy...LOL do you need to ask, I feel humbled and priveledged.
Thanks, Ed.
The Patek Philippe Reference 2499 is a highly significant perpetual calendar chronograph, representing a pivotal model in the brand's history of complicated wristwatches. It succeeded the Reference 1518 and introduced a larger case diameter and updated aesthetic, establishing a design language that would influence subsequent perpetual calendar chronographs from Patek Philippe for decades. The reference was produced in four distinct series, each with subtle variations in dial layout, pusher style, and case construction.
This reference typically features a case crafted from precious metals, most commonly yellow gold, though examples in rose gold and platinum are known. The case diameter is generally 37.5mm, housing a manual-wind movement, specifically the caliber 13''' Q. This movement integrates a perpetual calendar mechanism with a chronograph function, offering indications for day, date, month, leap year, and moon phases. The crystal is typically acrylic for earlier series and sapphire for later iterations.
The 2499 is highly sought after by collectors due to its rarity, complexity, and historical importance. It is considered a benchmark for vintage complicated Patek Philippe watches and represents the evolution of the perpetual calendar chronograph from the mid-20th century. The variations between the four series provide distinct collecting opportunities, with each series possessing unique characteristics that appeal to different connoisseurs.
the price..... You got a deal....... However, you got addicted to horology.... So, money wise, you lost.... but enjoyment..... As a well known credit card ad says..... Priceless.... Cheers
With Time passing, another phenomenon occured. We managed to make simple watches coexist with complicayed watches, passing from one to another... Something which is much harder to do with Houses... Very nice sotry, my friend. I still remember your nice 5508! Best, Nicolas
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and a wonderful climax! Enjoy your 5970P in great health! Now the question is ....what next? Cheers fernando
actually next on the dream hit list, I want to replace the Nautilus I sold to get the 5970p, so next fingers croseed, the 5276a!
thank you for sharing a very nice story
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