Patek Philippe Perpetual Calendar Chronograph Showdown: Ref. 3970 vs. Ref. 5270
By Logan Baker
The 36mm elegance of the 1980s meets the 41mm confidence of the 2010s – both equally vital chapters in Patek’s perpetual chronograph story.
Ask any serious collector to name Patek Philippe’s most defining complication, and the answer is nearly always the perpetual calendar chronograph. Since 1941, this line has served as the brand’s proving ground, producing some of the most sought-after wristwatches in the world. Two references, the 3970 and 5270, highlight different philosophies in design and watchmaking – and both are now available at Phillips Perpetual.
A 2013 Patek Philippe Perpetual Calendar Chronograph Ref. 5270G-001 in 18k white gold. Available for immediate purchase from Phillips Perpetual in London for CHF 115,158.
The 3970, launched in 1986, followed the legendary 2499 and introduced a more discreet 36mm case with a Lemania-based movement. Produced for nearly two decades across four series, it represents one of the longest-running perpetual calendar chronographs in Patek’s history. The yellow-gold 3970E we’re currently offering dates to circa 1987 and belongs to the early second series. Its hallmarks are deep and crisp, and its first-series dial and calendar disk make it especially attractive to collectors who prize early traits. Complete with a duplicate Certificate of Origin, setting pin, and additional sapphire screw-down case back, it represents the quintessential “gold standard” of late-20th-century Patek.
The 3970 is beloved for its harmony. Slim, elegant, and perfectly proportioned, it embodies the restrained collecting tastes of the late 1980s. Its Lemania-based caliber CH 27-70 Q might not be proprietary, but the execution is exquisite, especially in early pieces. For many, it remains the most wearable of Patek’s perpetual calendar chronographs – classic in scale, refined in detail, and endlessly versatile.
A circa 1987 Patek Philippe Perpetual Calendar Chronograph Ref. 3970E in 18k yellow gold. Available for immediate purchase from Phillips Perpetual in Hong Kong for HKD $2,200,000.
The 5270, by contrast, tells a more modern story. Introduced in 2011, it was the first perpetual calendar chronograph from Patek to feature an entirely in-house movement, the CH 29-535 PS Q. At 41mm, it is more imposing on the wrist and makes a bolder statement than its predecessors. Our example, a 2013 white-gold 5270G, is from the first generation and features a two-tone brushed silver dial that recalls the golden age of mid-century Patek dials. Freshly unsealed from a Patek service, it comes with a full set of accessories, including its original box, certificate, stylus, and booklets.
The 5270 is architectural, muscular, and unmistakably 21st century. Where the 3970 relies on balanced elegance, the 5270 embraces scale and engineering, representing Patek’s independence from outside suppliers. Collectors see it as a turning point, marking the transition from traditional ébauche movements to full in-house mastery.
A 2013 Patek Philippe Perpetual Calendar Chronograph Ref. 5270G-001 in 18k white gold. Available for immediate purchase from Phillips Perpetual in London for CHF 115,158.
Placed side by side, these two references represent a fascinating dialogue. The 3970 connects to tradition, refining the perpetual calendar chronograph for a new era of discreet sophistication. The 5270 carries that legacy forward, bringing the combined complication into the modern age with technical and stylistic boldness. Both stand as “firsts” in their own way: one the first of the modern era, the other the first to beat with a wholly Patek heart.
For collectors, choosing between the two comes down to philosophy. Do you prefer the intimate scale and historic charm of the 3970E in yellow gold, or the power and precision of the 5270G in white gold? Each embodies a different vision of what makes Patek Philippe’s perpetual calendar chronographs so enduring.
Either way, owning one is claiming a piece of Patek Philippe’s history – a legacy that stretches from the pioneering 1518, through the 2499 and 3970, into the 5270 and beyond.
Logan has spent the past decade reporting on every aspect of the watch business. He joined Phillips in Association with Bacs & Russo at the start of 2023 as the department's Senior Editorial Manager. He's based in Geneva.
