20 Patek Philippe An extremely rare, highly coveted, and complex, perpetual calendar, split seconds chronograph moon phase, 24 hour, leap year indicator, wristwatch in steel with original certificate and presentation box, reference 5004A.

Estimate: € 500.000 –⁠ 1.000.000

When production of the iconic ref. 5004 came to an end in 2012, Patek Philippe marked the occasion not with opulence, but with an act of horological subversion: a short run in stainless steel. This final gesture sealed the 5004’s legacy as one of the most enigmatic grand complications of the Lemania era, an era where manual finesse was still king. Produced between 1994 and 2012, the reference 5004 was among Patek Philippe’s most technically ambitious creations: a split-seconds chronograph with perpetual calendar, requiring an almost obsessive degree of hand-finishing and assembly. Only about 12 examples were made per year, attesting to the painstaking complexity of its movement, based on the CH 27-70, refined to Patek’s exacting standards. The 5004A, executed in stainless steel, was never catalogued. Reserved for a handful of the brand’s most loyal clients, each watch was sold exclusively through the Geneva Salon. A discreet engraving of the original owner’s name on the sapphire caseback lends each piece a uniquely personal provenance, in this case, Mr. Oscar Schafer. American investor and philanthropist, he is best known as the Chairman of Rivulet Capital, a New York-based investment firm. He previously served as a managing partner at O.S.S. Capital and as a member of the New York Philharmonic’s board. Though whispers of 50 examples made persist in collector circles, fewer than 10 have been publicly confirmed. The present watch, preserved in outstanding condition and offered with its original warranty, represents a singular opportunity: not just to acquire one of Patek Philippe’s most technically and philosophically significant references, but to own a quiet monument to the end of an era.