Patek didn’t invent the perpetual calendar but they did invent the annual calendar. In 1996 they patented a mechanism that knows the length of every month except February — one manual adjustment a year, instead of one every second month or none at all. The reference 5396 became the most elegant home for that complication: a Calatrava-cased annual calendar that collectors regard as modern Patek at its purest. Patek discontinued the reference in the 2026 catalogue refresh, which makes this 2025 example one of the last new-generation pieces the local market will see.
This is the 5396R-011 in 18k rose gold. 38.5mm case, silvery opaline dial with applied rose gold hour markers and dauphine hands, twin apertures at twelve for the day and month, and a date window at six sitting inside a 24-hour subdial with the moonphase overlay. Reads clean from across a room and rewards a closer look at every angle. On the shiny chocolate brown alligator strap with a matching rose gold fold-over clasp.
The movement inside is what you’re really paying for. Self-winding annual calendar, visible through the sapphire display back, with the level of hand-finishing that separates Patek from everything else at this price. Perlage on the plate, chamfered and polished bridges, polished screwheads, and the Patek Philippe Seal stamped on the mainplate. That seal is Patek’s own certification standard, replacing the old Geneva Seal in 2009 with a stricter set of finishing and long-term accuracy criteria. It’s the finishing benchmark no other manufacture has quite matched at scale.
This example is Australian-delivered local stock in like-new condition, full set with the original Patek box, papers, and the Patek Philippe pen. Patek manufacturer warranty runs through to 2030. At $69,900 for a final-year 5396R-011 with the factory coverage still in place, this is one of the last chances at the discontinued reference in the original silvery opaline configuration. Viewings by appointment, Sydney CBD.
Price: $69,900 AUD
Condition: Like new — full set with box, papers, Patek Philippe pen. Manufacturer warranty until 2030
Reference: 5396R-011 (2025, 38.5mm 18k rose gold, silvery opaline dial - final year of production)
Enquiries by appointment — Sydney CBD.