In the pantheon of legendary Patek Philippe perpetual calendar chronographs, the 3970 plays a key role in what it represents to the modern watchmaking history of the brand.
The 3970 was introduced in 1986, alongside its counterpart, the self-winding perpetual calendar 3940. Both models were significant for Patek Philippe and, to some extent, for the Swiss watchmaking industry as a whole. At that time, Switzerland was facing severe turmoil due to the Quartz crisis, which had deeply impacted the industry. Mechanical watches, once a cornerstone of the Swiss economy, appeared to be rendered obsolete. The severity of the crisis was evident in the dramatic reduction of the workforce in Swiss watchmaking, which fell from 90,000 to about 28,000 over a span of 18 years.
Amidst a period marked by uncertainty, Patek Philippe, under the leadership of Philippe Stern, made a surprising move by introducing the 3940 and 3970 as a duo (the 3970 came one year after the 3940). At that time, major Swiss companies were generally reluctant to produce highly complicated timepieces for obvious reasons, leaving little to no room for bold investments in innovation and focusing primarily on preserving existing market shares. Patek's decision to unveil both a perpetual calendar and a perpetual calendar chronograph simultaneously represented a daring step, especially considering the prevailing economic climate.
This move, however, proved timely as it coincided with a gradual shift in consumer sentiment towards a renewed appreciation for mechanical watches. Unlike their quartz counterparts, which operate on inscrutable electronic circuitry, mechanical watches offered a tangible emotional connection through their visible movements. This appreciation, perhaps rooted in our universal admiration for craftsmanship, underscores the significance of these timepieces in Patek Philippe's enduring legacy despite the challenges it encountered.
For those who are unaware, the 3970 was produced in four distinct series, and our particular example here—an absolutely stunning one, by the way—the 3970EJ (where E stands for étanche, meaning waterproof in French, and J denoting the use of yellow gold), belongs to the 3rd series, which spanned from 1989 up until 1995. It features a well-proportioned 36mm x 13mm case crafted from 18-carat yellow gold, distinguished by elegant stepped lugs.
The silver dial features a beautifully balanced layout with three distinct concentric sub-dials: a 30-minute totalizer combined with a leap year indicator at 3:00, a moonphase and date indication at 6:00, a 24-hour display and running seconds at 9:00, and twin apertures for the day of the week and month at 12:00.
Additionally, scholarship seems to suggest that at some point during the third-series production run, Patek updated the printed numerals and scales with a heavier touch for improved overall legibility and replaced the typewriter font on the day and month wheels with a bolder, more contemporary-looking sans-serif typeface. While the exact timing of this change is unclear, our 1992 example here still carries the former typewriter-style typeface for its day and month indication. From this series onward, the applied hour markers also shifted to pointed, faceted batons, matched with hands that replaced the feuille style used on the first two series. Patek also fitted the third series with a simple tang buckle before transitioning to more ornate deployant clasps in the subsequent fourth series.
As for its movement, the 3970 features an exceptional manual-winding Cal. CH27-70Q, which was originally based on the Lemania Cal. 2310—a notable fact since this is Patek Philippe’s first chronograph movement not derived from Valjoux. For those unaware of its history, the Lemania Cal. 2310 is a renowned calibre developed by Albert Gustave Piguet in 1942, and it also served as the basis for the much-admired Cal. 321 used in early Omega Speedmasters. While this formed the foundation of the 3970’s movement, it would be a huge disservice to say that they are anywhere near comparable. Not only is there a perpetual calendar module added on top of it, but Patek Philippe reworked and refinished the movement impeccably to match their standards. The hand bevelling and polishing of each component is expertly executed, including the brand’s iconic capped column wheel.
Some veteran collectors might argue that the 3970 is far less desirable compared to the legendary 1518 and 2499 due to its higher production numbers—approximately 1,350 pieces were made in the third series across all precious metals. While rarity is often a key factor of consideration for collectors, I firmly believe that this does not detract from the fact that the 3970 is still one of Patek Philippe's most significant and exceptional watches in recent horological history. On top of this, compared to production numbers for modern watches today, a 1,350-piece production run is actually relatively low, especially for a watch of this caliber.
From our perspective, the 3970 (and its sibling, the 3940) represents a pivotal chapter in the evolution of one of the most storied watchmakers in history. It marked the convergence of tradition and transformation, showcasing Patek Philippe’s ability to adapt to the changing demands of modern watchmaking while also demonstrating the brand’s unwavering courage in paving the way for the Swiss watchmaking industry through a time of profound uncertainty. Furthermore, today we are finally seeing a growing demand for 3970s across the board after years of being underappreciated. I do think this is only the beginning.
