A cornerstone within the Patek Philippe collection, the Annual Calendar reference 5396 has been in production since 2006. Complications with in-line display have been a Patek speciality since 1925, while their most famous historical example is probably the model 725/4 pocket watch from 1975 with perpetual calendar, now on display in the Patek Museum.

This slightly more accessible edition with moon phase and annual calendar, computes the whole year's dates automatically, barring leap years. 38.5mm in diameter, slender and discreet; the cleanly-cut bezel gives the occasional specular glint of polished rose gold, much like its antecedent Calatrava reference 96 from the 1930s. Clear, legible opaline dial, supplied with Patek box and certificate.

We originally sold this watch in early 2013, and are delighted to be reunited with it. Back then, the UK RRP was £34,700. Today it is just under £50,000, proving yet again that serious watches like this are not only practical and intellectual, but are fundamentally sound and reliable investments.