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Lot Essay
Christie’s is pleased to present this exceptional Patek Philippe reference 3448G, one of only two known transitional 3448s to feature the rare “red dot” leap year indication—and just the fourth wristwatch ever made by Patek Philippe to display this complication.
According to the Extract from the Archives, the watch was manufactured and sold in 1981. It is cased in white gold with an opaline satin-finished silver dial, raised hour markers, and powered by the self-winding caliber 27-460Q, featuring a perpetual calendar, moon-phase, and leap year indication. The leap year is marked by a striking enamel “red dot,” while the remaining years are displayed as 1, 2, and 3. Only two transitional reference 3448s were made with this feature, both in white gold.
The origins of Patek Philippe’s leap year display date to 1975, when Alan Banbery diligently worked with Patek Philippe's watchmakers to modify a reference 3448. Known as the “Senza Luna,” this unique piece replaced the moon-phase with a leap year indicator. It later achieved over HKD 29,050,000 (in excess of CHF 3.5 million) at Christie’s Hong Kong in 2021 and remains in a major private collection.
In 1981, a second unique watch, reference 3563, was created for Philippe Stern. It resolved the “Senza Luna” compromise by retaining the moon-phase while adding a leap year aperture. This piece is now preserved at the Patek Philippe Museum.
The third example—also from 1981—was the first leap year wristwatch by Patek Philippe intended for sale: a white gold reference 3448 with both moon-phase and leap year indication. It was sold by Christie’s Geneva in 2013 for over CHF 1.6 million and is now held in an important collection.
The present watch is the fourth such piece and only the second produced for the market. Bearing consecutive movement and case numbers to the previously sold example, it holds a unique position within this lineage.
Originally sold on a leather strap in 1981, this present watch was converted at an early stage and fitted with a Patek Philippe integrated and hand-made chain bracelet. Following its conversion, this 3448G, along with 5 other special reference 3448 (including the other white gold “red dot” and a “Senza Luna” among others), travelled throughout Europe with Patek Philippe on a tour to share the watches as well as the new leap year indication with important collectors and members of the community. An incredibly small selection of watches and an important moment for Patek Philippe, these watches made quite an impression on all who experienced them and many remember both white gold “red dot” watches vividly, one watch on a strap (movement 1’119’580, case 332’620) and the present watch fitted with an integrated bracelet (movement 1’119’581, case 332’621).
Though well known for decades, the watch has appeared at auction only a few times, first in 1989 and again in 1992, always with its bracelet. In the early 2000s, a subsequent owner acquired an additional white gold mid-case with lugs, allowing the watch to be worn either on a strap or bracelet—both options included in the present offering.
With only two known examples of the Ref. 3448 in white gold featuring the “red dot” leap year indication, the rarity and historical importance of this watch cannot be overstated. It stands as a pivotal milestone in Patek Philippe’s pursuit of perpetual calendar innovation and remains a truly exceptional collector’s piece.
According to the Extract from the Archives, the watch was manufactured and sold in 1981. It is cased in white gold with an opaline satin-finished silver dial, raised hour markers, and powered by the self-winding caliber 27-460Q, featuring a perpetual calendar, moon-phase, and leap year indication. The leap year is marked by a striking enamel “red dot,” while the remaining years are displayed as 1, 2, and 3. Only two transitional reference 3448s were made with this feature, both in white gold.
The origins of Patek Philippe’s leap year display date to 1975, when Alan Banbery diligently worked with Patek Philippe's watchmakers to modify a reference 3448. Known as the “Senza Luna,” this unique piece replaced the moon-phase with a leap year indicator. It later achieved over HKD 29,050,000 (in excess of CHF 3.5 million) at Christie’s Hong Kong in 2021 and remains in a major private collection.
In 1981, a second unique watch, reference 3563, was created for Philippe Stern. It resolved the “Senza Luna” compromise by retaining the moon-phase while adding a leap year aperture. This piece is now preserved at the Patek Philippe Museum.
The third example—also from 1981—was the first leap year wristwatch by Patek Philippe intended for sale: a white gold reference 3448 with both moon-phase and leap year indication. It was sold by Christie’s Geneva in 2013 for over CHF 1.6 million and is now held in an important collection.
The present watch is the fourth such piece and only the second produced for the market. Bearing consecutive movement and case numbers to the previously sold example, it holds a unique position within this lineage.
Originally sold on a leather strap in 1981, this present watch was converted at an early stage and fitted with a Patek Philippe integrated and hand-made chain bracelet. Following its conversion, this 3448G, along with 5 other special reference 3448 (including the other white gold “red dot” and a “Senza Luna” among others), travelled throughout Europe with Patek Philippe on a tour to share the watches as well as the new leap year indication with important collectors and members of the community. An incredibly small selection of watches and an important moment for Patek Philippe, these watches made quite an impression on all who experienced them and many remember both white gold “red dot” watches vividly, one watch on a strap (movement 1’119’580, case 332’620) and the present watch fitted with an integrated bracelet (movement 1’119’581, case 332’621).
Though well known for decades, the watch has appeared at auction only a few times, first in 1989 and again in 1992, always with its bracelet. In the early 2000s, a subsequent owner acquired an additional white gold mid-case with lugs, allowing the watch to be worn either on a strap or bracelet—both options included in the present offering.
With only two known examples of the Ref. 3448 in white gold featuring the “red dot” leap year indication, the rarity and historical importance of this watch cannot be overstated. It stands as a pivotal milestone in Patek Philippe’s pursuit of perpetual calendar innovation and remains a truly exceptional collector’s piece.