Patek Philippe Perpetual Calendar Chronograph Special Edition

About this reference

The Patek Philippe 3970 was produced from 1986 to 2004, succeeding the reference 2499. The 3970EP-038 is a specific platinum execution from the fourth series, distinguished by its 36mm case with a screw-down sapphire caseback and a black dial featuring diamond hour markers. It utilizes the manual-wind Caliber CH 27-70 Q, based on a Lemania 2310 ébauche, which collectors value as the first Patek Philippe perpetual calendar chronograph movement not based on a Valjoux blank. This reference represents the transition from vintage to modern proportions and manufacturing techniques. On the secondary market, the 3970EP-038 typically commands prices in the mid-to-high six-figure range, often between $180,000 and $250,000 depending on provenance. A notable production detail is that while standard platinum 3970s featured baton markers, the diamond-dial 038 variant was produced in significantly smaller quantities, increasing its rarity among fourth-series examples.