Patek Philippe Calatrava: Wu Shang Editions
Reference Guide

Patek Philippe Calatrava: Wu Shang Editions

By quattro · Mar 11, 2026 · 23 replies
quattro
WPS member · Patek Philippe forum
23 replies934 views8 photos
f 𝕏 in πŸ’¬ βœ‰ πŸ”—

Emmanuel, known as quattro on WatchProSite, introduces two exceptionally rare Patek Philippe Calatravas, the Ref. 3923S and 3923SR. These rose gold timepieces, released in 1995, commemorate the 25th anniversary of Wu Shang Trading Company, Patek Philippe's Taiwanese distributor. Emmanuel highlights their unique historical significance as the first anniversary pieces for a non-European distributor and for celebrating an early 25-year milestone.

These two Calatravas in rose gold were released in 1995 to celebrate the 25th anniversary of the Wu Shang Trading Company Limited, Patek Philippe's official distributor in Taiwan.

The following points make them quite special:

  • They are the only pieces made for the anniversary of distributor as opposed to a retailer.
  • They were the first anniversary pieces for a non European partner.
  • They celebrated an early anniversary (25 years only), which was very uncommon.
I find the β€œpink on pink” very appealing.

What about you?

Best, Emmanuel


Ref. 3923S

32 mm - Caliber 215 PS





Watch by Patek Philippe, 3923, Calatrava




Ref. 3923SR

Same specifications








credit: Phillips 

About the Patek Philippe Calatrava Ref. 3923

The Patek Philippe Calatrava reference 3923 is a notable example within the Calatrava series, distinguished by its production for specific commemorative purposes. This reference is recognized for its understated design, adhering to the classic dress watch aesthetic that defines the Calatrava line. Its limited production and specific commemorative editions contribute to its appeal among collectors seeking pieces with unique historical context.

This particular reference features a case crafted from 18k rose gold, presenting a warm aesthetic. The case diameter measures 33mm, a size consistent with traditional dress watches of its era. It houses a manual-wind movement, specifically the Caliber 215 PS, known for its slim profile and reliability. The watch is fitted with a sapphire crystal, providing clarity and scratch resistance, and typically features a solid case back.

Collector interest in the 3923 often centers on its special editions, such as those released in 1995 to commemorate the 25th anniversary of the Wu Shang Trading Company Limited, Patek Philippe's distributor in Taiwan. These specific anniversary pieces are notable for being among the first made for a non-European distributor and for celebrating an earlier anniversary milestone than was typical at the time. The "pink on pink" aesthetic of the rose gold case and dial further enhances the distinctiveness of these commemorative variants.

Specifications

Caliber
Caliber 215 PS
Case
18k rose gold
Diameter
33mm
Dial
Pink
Water Resist.
25m
Crystal
Sapphire

Key Points from the Discussion

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The Discussion
AR
Arronax
Mar 11, 2026

As I get older I find myself more attracted to bolder pieces with stones, as such I would go for the ruby dial. My only minor gripe with both models is the writing on the see-through back sapphire which obstructs the view of the movement, it would have been better to engrave the case back for a better appearance.

KM
KMII
Mar 11, 2026

Where I would fully appreciate stones but the pink on pink is delightful. Maybe without the glass etching on the case back but then again that was probably topical at the time 😊

QU
quattro
Mar 11, 2026

I don’t understand why they do such engravings: they must know that they upset collectors, mustn’t they? Best, Emmanuel

QU
quattro
Mar 11, 2026

The pink on pink is really beautiful.

DE
Derreck
Mar 11, 2026

white gold or better yet platinum, that would be perfect. As is, the yellow gold mounting with the rubies on the dial is a bit too rich for me, I understand that the mounting and case color should match but still.

MD
mdg
Mar 12, 2026

...and I've never warmed up to that particular movement...

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