One of the standout highlights in Monaco Legend Group's Exclusive Timepieces sale in Lugano on June 5, 2025 is a watch that truly needs no introduction. Lot 166 is not just a rare Patek Philippe reference 3448 in white gold. It is quite possibly unique, fitted with a striking dial featuring oversized black lacquer Breguet numerals, a special-order configuration never seen before on the market.
This remarkable example gives new meaning to the term "grail watch” and it invites us to revisit the legacy of the Patek Philippe 3448, a reference that holds a place of honour as one of the most iconic and innovative timepieces of the 20th century.
The first of its kind
Unveiled in 1962, reference 3448 was the world's first self-winding perpetual calendar wristwatch. It was also one of the most modern watches of its time, featuring a large 37.5mm UFO-like "Disco Volante" case designed by Antoine Gerlach. Nicknamed "Padellone" (Italian for frying pan) for its wide, flat proportions and angular lugs, the 3448 struck a bold, futuristic note while retaining the pure classical harmony that defines Patek Philippe design.
The case design was no less radical than the movement inside. Powered by calibre 27-460 Q, the 3448 simplified the perpetual calendar's daily wear, combining elegance, innovation and practicality. For 16 years it remained the only watch of its kind in the market, until production ceased in 1981.
A design icon loved by legends
The 3448's minimalist yet assertive layout captured the imaginations of a new generation of collectors and creatives. Andy Warhol and Ringo Starr were both known to wear the model. The date ring, sword hands, moonphase aperture and absence of a seconds hand created an ultra-clean dial aesthetic that remains timeless to this day.
Approximately 586 examples were made across all metals, with the vast majority in yellow gold. Around 80 pieces were made in white gold, and only one is known in pink gold. Two additional watches were later cased in platinum in 1997 by Jean-Pierre Hagmann on special order. One of these now belongs to Jean-Claude Biver.
Great 3448s in the modern market
Reference 3448 remains one of the most desired Patek Philippes in the vintage market, and a handful of exceptional examples have emerged in recent years. In 2022, Monaco Legend Group sold an extraordinary white gold 3448 from the collection of John Goldberger. That watch, notable for its condition and completeness, achieved €747,500.
More recently, Phillips made headlines when it sold the only known pink gold 3448, a piece double signed by Uruguayan retailer Freccero, for CHF2.7 million. The appearance of such a unicorn reaffirmed the 3448’s status as a model at the very peak of collectible vintage Patek Philippe.
A true revelation
Against this backdrop, the appearance of Lot 166 in the Lugano auction represents a watershed moment. Cased in white gold and manufactured in 1973, this 3448 is fitted with a spectacular dial featuring oversized black lacquer Breguet numerals. The dial alone transforms this already rare watch into something truly one-of-a-kind.
“This watch encapsulates everything that makes Patek Philippe so special,” says Davide Parmegiani, Co-Chairman of Monaco Legend Group. “It has all the ingredients: rarity, provenance, exceptional condition, and a unique personality. It is a piece that stops you in your tracks.”
The case is razor-sharp, preserving the stepped bezel and angular lugs that define the model. The watch is accompanied by a white gold bracelet, its original box, and an in-depth Tortella & Sons "Deep-Study" dossier confirming its special-order dial and historical importance.
Corrado Mattarelli, Deputy Chairman of the Watch Department, adds: "This is a landmark example of reference 3448. It redefines what collectors thought they knew about this model. It is more than a watch, it’s a bridge between Patek Philippe’s heritage and its tradition of bespoke excellence."
Offered at auction for the first time in three decades, this masterpiece presents a once-in-a-lifetime opportunity to acquire a piece of horological history. With its singular configuration, impeccable provenance, and sensational design, Lot 166 is not only one of the greatest 3448s ever to surface, but one of the most important wristwatches ever made.
