First Series 3941J Patek Philippe Perpetual Calendar

There may never be a Patek Philippe this beautiful again. To those paying close attention, this era (Philippe Stern’s) is really having a moment. 3940, 3970, and 5004: they may as well be their own ‘holy trinity’ within the brand and there really is a magic about each that is beginning to be fully appreciated only today. They’re having their moment. This is a first series 3940, or 3941 more precisely, which means sapphire back. This was the era where Patek Philippe began standardizing production of display casebacks, but hadn’t yet begun including both with each watch in the set. And it’s all that we love about Patek Philippe of old.

The first series of 3940 are differentiated by the dial primarily, which have sharp, non-beveled edges for their subdials. These dials were made by Stern Frères and, as lore holds, were considerably more difficult to manufacture than the beveled subdials that came after. Additionally, it is only the first series and early second series that have no crosshair divider in the leap year indication, which some would argue does make for a more cohesive design. The Patek signature is also slightly smaller, leaving more negative space. Research suggests that both in case and dial manufacture, greater hand effort was involved in making the first series; this is the watch that bridged the divide between the Patek Philippe of old and serially produced complication. Estimates for first series production range from 700-1500 examples.

Now the 3941 is a very interesting case in itself. The commonly cited figure for 3941 production has been 35 examples for a while. But trust Ben of WBL to dig harder, and he has, turning up 45 examples in researching for this sale. With first series dials, he knows of 9. Let’s say there are probably 10-20 made then, by rough estimate. Any way you slice it, that’s nothing. If you want an early dial with a view to the 240 Q, these watches are the only option. At least, the only option from Patek Philippe that’s period correct. And though not stamped, this one comes from Beyer. It feels like we’ve hit the mark where collected 3940, 3970, and 5004 are entering the sacred halls of collecting. I’m glad to see it. There are few more relatable, beautiful, and meaningful references to the brand. Certainly, there is nothing like it today.

This is a very strong example though not absolutely perfect and priced as it should be. The thing to note is the extremely small mark above the handstack, only just visible in photography and immensely light. A lot of retailers wouldn’t even note this but Ben at WBL is one of the best. The case has seen a light Polish, but hallmarks on case side are present. In the majority of examples these are gone. It comes with its full set, including the pusher pin even, from a well-regarded London retailer.