Patek Philippe Ellipse Automatic 1979-1984 18kt Gold, GOLDSMITHWORKS EXTENDED

1175 Buford Highway. Suite 120
Suwanee, Georgia. 30024
www.goldsmithworks.com
770.831.1257 - 1.800.438.6894

Date/Report Number 091711:PATEK-53e58 Item Patek Philippe Ellipse Automatic 1977-1980 18kt Gold,

Description of item: Patek Philippe Ellipse Automatic 1977-1980 18kt Gold, Ref. 3589/1
SIGNED THREE TIMES PROFESSIONALLY RESTORED 18K YELLOW GOLD PATEK PHILIPPE AUTOMATIC WITH ATTACHED 18K GOLD MESH BAND/BRACELET WITH A 18K BEZEL WITH AN 18K SNAP-ON CASE BACK. WITH SAPPHIRE CRYSTAL AND DARK BLUE DIAL SIGNED PATEK PHILIPPE GENEVA, SWISS WITH 18K GOLD ROMAN NUMERALS AT 12, 3, 6 & 9, AND STICK MARKERS AT 1,2,4,5,7,8,10 & 11 POSITIONS. A SET OF GOLD HANDS COMPLETES THE DIAL. THIS PATEK DOES NOT HAVE SUB-SECONDS OF SWEEP SECONDS. THERE ARE MINOR FADE BLEMISHES AT 12, 2, 3, 4, 5, 7, 9 AND 11 MARKERS. THIS PATEK CONTAINS THE PATEK PHILIPPE 28-255 AUTOMATIC MOVEMENT WITH 18K GOLD ROTOR AND IT IS SIGNED: PATEK PHILIPPE GENEVA 28-255, THIRTY SIX 36 JEWELS, SER#1287103, ADJ(USTABLE) 5 POSITIONS, HEAT COLD, ISOCHRONISM SWISS. CONDITION OF CASE IS FINE WITH NEAR FACTORY EDGES, WITH NO EXCESSIVE BUFFING OR LOSS OF GOLD. CONDITION OF BRACELET IS FINE, WITH NO KNOWN OR NOTICEABLE REPAIRS. CONDITION OF CLASP IS EXCELLENT. AN ADDITIONAL REMOVABLE BRACELET CLASP EXTENSION IS ATTACHED TO THE CLASP. A SEPARATE PRICE APPRAISAL IS ADDED TO THE MAIN APPRAISAL FOR COSTS OF THE EXTENSION. CASE BACK INTERIOR IS SIGNED: THREE CARTOUCHE; ONE: 115; TWO: 18K 0.750; THREE: A PATEK PHILIPPE BRAND MARK; PATEK PHILIPPE & CO; GEVEVE; 530024; 3589/1

**Actual Current Sept 2011 Online Advertised Retail Sale Price with Crocodile Strap: $20,000-25,000.00
Estimated Retail Replacement Value: $19,000.00
Estimated Retail Replacement Value 0f Clasp $375.00
**
Patek Philippe Golden Ellipse 18kt White Gold Mens Watch Croc Strap 3738 $20,665-25.000
Patek Philippe Golden Ellipse 18kt Yellow Gold Mens Watch Croc Strap 3589 1 $14,985 Sold

Reports are supplied at the request of the customer and it is for the customer's exclusive use. Reports express an opinion of the time of the examination of the jewelry. This report is for customers use only for the following two purposes, indicating estimated retail replacement value to obtain insurance coverage, or for the purpose of providing geological information. GoldSmith Works does not guarantee that the appraisal valuation will result in a sale at the price. Estimated retail replacement value is arrived after analyses of what the approximate high retail cash asking price is for labor, materials, and design. These prices may be substantially higher than actual transaction or warranty with regards to any item described in the report, since jewelry grading is not an exact science, this report represent the best opinion of the company. GoldSmith Works is in no case responsible for differences that occur by repeated grading by other experts in the field and/or use of other standards, norms, methods or criteria other than those used by GoldSmith Works. GoldSmith Works is expressly held harmless by customers including, but with out limitation for any claims or actions that may arise out of negligence in connection with the preparation of this laboratory report, or actions based upon the customer's use of the report. The information on the carat weight, clarity grade, color grade on the report is approximate due to the limitations in jewelry grading. The item was tested, graded, and examined under 10x magnification using the techniques and equipment available to GoldSmith Works, including fully corrected triplet loupe, binocular microscope, master color comparison guides, diamond color comparison tools, electronic carat balance, non-contact optical measuring device, and ancillary instruments necessary at the time of Examination.

Patek Philippe is regarded as one of the best watchmakers in the world. This legacy is attributed to the company's commitment to craftsmanship and technical expertise as it has provided its clients since its inception in 1839. Other than the quality and craftsmanship of Patek Philippe, the Swiss watchmaker is renowned for ingenuity and innovation, having made the first wristwatch in 1868 and being the pioneer for such complications as the perpetual calendar, the chronograph, the split-seconds hand, and the minute repeater. A Patek Philippe watch is likewise popular for being heirlooms that are passed down from one generation to the next. As a testament to the durability and versatility of the brand, the market still abounds with various vintage Patek Philippe watches produced almost a century ago. Depending on the rarity, these vintage Patek Philippe watches are sometimes sold for a much higher value than its original retail price. For watch connoisseurs and collectors, no collection would be complete without a vintage Patek Philippe watch.

PATEK PHILIPPE, GENÈVE, REF. 3589, MOVEMENT NO. 1287103, CASE NO. 530024, MADE:1977-1980
Fine, oval, 18K yellow gold, self-winding, gentlemen’s wristwatch with Patek Philippe 18K yellow gold mesh band
FUNCTIONS:: Hours, minutes
SIGNED: Dial, case and movement
DIMENSIONS: Width 33 mm, length 36 mm, thickness 6 mm
CASE: Two-part, polished, Attached 18K Mesh Band/Bracelet, guilloché rayonnant bezel
DIAL: Satiné blue, with applied yellow gold Roman hours
HANDS: Yellow gold bâton
MOVEMENT: Cal. 28-255, rhodium-plated, Côtes de Genève decoration, 36 jewels, straight-line lever escapement, Glucydur Gyromax balance, adjusted to heat, cold, isochronism and five positions, shock absorber, self-compensating flat balance spring, 18K gold rotor segment
ACCESSORIES: Extended 18K Clasp

Only one single incredible, reliable, flat designed, automatic caliber, the 920, was ustilized by the top three Swiss watchmaking companies -- Audemars Piguet, Patek Philippe, and Vacheron Constantin -- and no one else.

Though Designed and manufactured by Jaeger LeCoultre, the caliber 920 was finished by Audemars Piguet, Patek Philippe and Vacheron Constantin and never used by Jaeger LeCoultre in a watch of its own.

First available in 1967, the 920 is used to this day by Audemars (calibers 2120/2121/2122) and Vacheron (1120/1121/1122). Patek Philippe introduced the Nautilus in 1970 with the 920 (Patek caliber 28-255), and kept the caliber 920 in production for 10 years (switching to the caliber 335SC).

Patek Philippe, while attempting to produce a reliable, flat automatic design of its own, introduced the Nautilus in 1970 with the 920 (Patek caliber 28-255), and kept the watch in production for 10 years (then switching to the caliber 335SC).The Patek 920/28-255 among the most refined and beautiful automatic movements ever produced, was also utilized by Vacheron Constantin

In its day, the 920/28-255 was a remarkable engineering accomplishment. No contemporary Swiss automatic, regardless of thinness, exhibits the refined--and expensive--construction of the 28-255. And, inarguably, this caliber is among the most beautiful wristwatch movements ever produced. it has 36 jewels...

The Gyromax balance has an adjustable mass balance with eight rotatable weights, which allows both poising ("balancing") of the balance and rate adjustment without the use of a conventional regulator index and has KIF shock protection and the engraving on the balance cock showing rate adjustment procedures. The slot in opposing pairs of weights (arrow) is rotated to the outside of the balance to decrease its effective diameter and increase rate. Rotating the slot towards the center of the balance increases the effective diameter of the balance wheel and slows the rate

With on of the most intricate and beautiful finely finished wheel trains and automatic winding trains in the world of fine watches, it is ashamed that one cannot see it! (1) center wheel; (2) third wheel; (3) fourth wheel; (4) escape wheel; (5) pallet lever lower pivot; (6) balance wheel lower pivot; (7) lower pivot for first automatic winding transfer gear (mounted on the barrel bridge); (8) switching rocker for bi-directional automatic winding; (9, 10) automatic winding transfer wheels; (11) hand-winding disengagement wheel; and (12) mainspring barrel.

note: we provided a rough cut out to allow you to understand what we are explaining.

Because of the low-profile, bushed center bearing, the 18K GOLD rotor requires support around its periphery. Thus a full circle beryllium ring is utilized with a conveniently rotor is release mechanism. The rotor is released by sliding a single clip away from the bearing. that is the silver mechanism in the center. NOTE... THE HALF MOON OBJECT IS THE ROTOR AND IT IS 18K WHITE GOLD.

Four ruby wheels provide support for the rotor is provided. Each ruby wheel runs on an axle mounted in a small plate screwed to the mainplate. Thus this wheels fully support the beryllium ring of the rotor.