• cal. 27-460Q automatic nickel lever movement stamped twice with the seal of Geneva, 37 jewels, free-sprung Gyromax balance, adjusted to heat, cold, isochronism and five positions, 18k gold signed rotor • silvered dial, applied faceted gold baton indexes, gold dauphine hands, apertures for day and month in Spanish, subsidiary dial indicating date combined with fan-form aperture for moon-phases, outer painted minutes track • large 18k yellow gold case with sloped bezel, angular downturned lugs, snap back • case, dial and movement signed • with an 18k yellow gold Patek Philippe buckle

The movement is running and complications appear to function, however we recommend service soon. The dial appears to be in nice condition with no visible imperfections. The case shows general wear and light polish throughout, however it is in overall nice condition. The strap of this wristwatch is made from an endangered species; please refer to Important Notices for further information.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. All dimensions in catalogue descriptions are approximate. Condition reports may not specify mechanical replacements or imperfections to the movement, case, dial, pendulum, separate base(s) or dome. Watches in water-resistant cases have been opened to examine movements but no warranties are made that the watches are currently water-resistant. Please note that we do not guarantee the authenticity of any individual component parts, such as wheels, hands, crowns, crystals, screws, bracelets and leather bands, since subsequent repairs and restoration work may have resulted in the replacement of original parts. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue. In particular, please note it is the purchaser's responsibility to comply with any applicable import and export matters, particularly in relation to lots incorporating materials from endangered species.NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

**Please be advised that bands made of materials derived from endangered or otherwise protected species (i.e. alligator and crocodile) are not sold with the watches and are for display purposes only. We reserve the right to remove these bands prior to shipping.

Important Notice regarding importation into the United States of Rolex watches
Sotheby's cannot arrange for the delivery of Rolex watches to the United States because U.S. laws restricts the import of Rolex watches. The buyer or a designated agent may collect the property in the country of sale."

Accompanied by an Extract from the Archives confirming production in 1978 and sale on May 23rd of that year. Together with a vintage Patek Philippe brochure entitled ജ'Complicated Watches', a facsimile of the correspoꦉnding instruction manual, and a presentation box.

Ref. 3448 was launched in 1962 and, at the time, was the only automatic perpetual calendar wristwatch available on the market. Patek Phꦏilippe enhanced its legendary self-winding movement, cal.27-460 with gold rotor, adding the perpetual calendar mechanism to the top plate to create cal.27-460Q expressly for this model.

The reference underwent four main e💖volutions, each introducing a new variation on the design. The present example belongs to the final series, which features painted minut🦄e tracking and a larger bezel to accomodate the sapphire crystal setting. Ref. 3448 was ultimately succeeded in 1981 by Ref. 3450, produced until 1985. Among some more subtle design differences, the successor featured a leap year indication aperture.

According to Patek Philippe, only 586 examples of Ref. 3448 were created over two decades of production. According to our research, approximately 370 of those were in yellow gold. This particular example is rare within this model, as it bears a Spanish calendar. Althoꦑugh Spanish-speaking clientele is an important market, fewer watches were produced with Spanish calendars than English, French or Italian ones.

For an exam𓃲ple 🌌from the second series of Ref. 3448, see lot 208.

A similar example with an English calendar is illustrated in Huber, M. & Banbery, A., Patek Philippe Wristwatches, Vol. 2, Second Edition, pp. 288-289.