About this watch

In 1996, Patek Philippe invented the Annual Calendar, a complication clever enough to know the length of every month except February, and the reference 5396 became its most elegant home: a Calatrava-cased annual calendar that collectors regard as modern Patek at its purest. This is the 5396R-011 in 18k rose gold, and with Patek Philippe discontinuing the reference in its 2026 catalogue refresh, this 2025 example is from the final year of production. The last chance to buy the classic silvery opaline dial new-generation examples will never come cheaper than the replacement that succeeded it. The 38.5mm rose gold case frames a silvery opaline dial of remarkable restraint: twin apertures at twelve for day and month, the date window at six sitting inside a 24-hour subdial with a moonphase display, and applied rose gold hour markers matching the dauphine-style hands. Behind the sapphire display caseback, the self-winding movement shows the hand-finishing that separates Patek from everything else. It is worn on a shiny chocolate brown alligator strap with a rose gold fold-over clasp. This example is Australian-delivered local stock in like new condition, complete as a full set with box a…