37 Patek Philippe An attractive and well preserved, Calatrava, manual wristwatch in steel with silvered dial, signed by the Uruguayan retailer Freccero, with Extract from the Archives and box signed by the retailer, reference 565.

Estimate: € 60.000 –⁠ 120.000

• Model Calatrava
• Year 1948
• Reference 565
• Case Material Stainless steel
• Case Number 639'942
• Bracelet Material Leather strap
• Movement Manual, cal. 12-120, 18 jewels
• Movement Number 961'495
• Dimension 35mm Diameter
• Signed Case, dial and movement
• Accessories Accompanied by Patek Philippe Extract from the Archives confirming production of the present timepiece in 1948 and its subsequent sale on May 26th 1948 and fitted presentation box signed by Freccero.

Introduced in 1934 and produced until 1952, the Patek Philippe reference 565 was a landmark model, notably the brand’s first water-resistant wristwatch. Its case, manufactured by Taubert & Fils—successors to Borgel’s pioneering waterproof designs—marked a significant technical advancement. Most examples, including the present watch, were fitted with the calibre 12-120 with subsidiary seconds, while rarer versions featured centre seconds. This example belongs to a particularly scarce subset distinguished by an oversized subsidiary seconds register. While mainly produced in yellow gold, stainless steel examples like the present one are especially rare and sought after. Beyond its steel case, the watch is further elevated by its distinctive dial with “inverted Explorer” Arabic numerals at 3, 9, and 12, a beautifully preserved hard enamel signature, and the rare double signature of Freccero, the historic Uruguayan retailer. Preserved in excellent condition, it is accompanied by its original Extract from the Archives confirming its production and sale in 1948.