Patek Philippe Perpetual Calendar
+2278 % above RRP
📱 Track this reference's market value on the go with the watch value app — daily median, price alerts and a watchlist.
ℹ️ 1-month trend
Price change over the past 30 days. Shows the short-term market movement — relevant if you want to buy or sell soon.
ℹ️ 4-month trend
The central metric behind the momentum score. It filters out short-term swings and shows the true, medium-term market trend of this reference.
ℹ️ Volatility
Annualised price fluctuation. Below 10 % = very stable, 10–20 % = normal, above 20 % = volatile. With high volatility the price can change quickly — in both directions. Be cautious about buying without checking the current price.
ℹ️ Momentum score
ChronoCheck's own indicator from 0 to 100, calculated from the 4-month trend, volatility and market direction.
- Above 60 — Upward trend. Good time to sell, prices are rising.
- 40 – 60 — Neutral. Stable price level, no pressure to act.
- Below 40 — Downward trend. Wait or enter at a good price.
ℹ️ Investment Grade A/B/C/D
ChronoCheck's own rating for each reference. A 0–100 point scale, made up of four weighted components:
- Momentum (40 pts) — trend strength from the momentum score.
- Liquidity (25 pts) — number of active live listings.
- Stability (20 pts) — inverse volatility — the calmer, the better.
- Source robustness (15 pts) — number of independent market sources.
- A · 75+ Trend is right, liquidity good, data broad.
- B · 55–74 Solid, but one component weaker.
- C · 35–54 Average, volatility or market breadth weigh on it.
- D · below 35 Downward or too little data — a collector's piece.
Not investment advice. Pure data analysis from aggregated market sources.
The current market value of the Patek Philippe Perpetual Calendar (Ref. 3940) is $1,262,455. Last sold at auction: $754,023 (Christie's, 05/2026).
🔔Set up a price alert
Be the first to know when the market value for Patek Philippe Ref. 3940 reaches your target threshold. No ads, no newsletters — only the price alerts you set yourself. Cancel any time with a single click.
We send a confirmation email. The alert only becomes active after you click the link in that email (double opt-in). Our privacy notice applies. Multiple alerts per address are possible, max. 10 active at the same time. Not investment advice.
Technical data
Patek Philippe Ref. 3940 — Variants and collector names
Known as: Slim Perpetual, First Series 3940, Second Series 3940, Third Series 3940, Doré Dial, X-Dial, Beyer Pieces
Production phases and changes
- 1985: Initial delivery as 25-piece numbered Beyer anniversary series; general production from 1986
- 1986: Introduction of Ref. 3941 as display-caseback sister reference to the 3940
- 1988: Transition to Second Series: beveled sub-dials
- 1990: Transition to Third Series: cross on leap-year indicator standard; introduction of rose gold (3940R); Ref. 3941 discontinued
- 2007: Discontinuation of regular production; approx. 7,000–8,000 pieces total
Serial numbers
- 2400000 – 2700000 (1986–1990) — Approximate Patek Philippe movement number ranges (estimates from collector guides). For verified dating, request an archive extract from Patek Philippe.
- 2700000 – 3200000 (1990–1997) — Approximate movement number ranges. New numbering block assignment from approx. 1995.
- 3200000 – 4100000 (1997–2007) — Approximate movement number ranges through end of regular production.
- 4100000 – 4900000 (2007–2011) — Final phase (NOS / Vintage Collection 3940P-027). From 2009, intentional number skipping at PP — year estimation by serial number less reliable.
Brand profile: Patek Philippe
Patek Philippe produces the world's most exclusive watches. Counterfeits are typically identifiable by their build quality — the genuine article sets standards that are nearly impossible to replicate.
- Dial embossing Nautilus: the genuine piece has 11 RAISED horizontal stripes with precise edges. 3D depth is visible under raking light. Flat stripes = fake.
- Case thickness Nautilus 5711: EXACTLY 8.3mm measured with calipers. Deviation of +0.5mm = fake with 7750 base or Miyota.
- Weight Nautilus 5711/1A: 131.4g ± 1g (with bracelet). >5g deviation = suspect.
- PP Seal on rotor (display back): the genuine Patek Philippe Seal features DEEP 3D engraving with sharp edges. Fake rotors have a shallow stamp.
Serial number format: Patek serial numbers: 6–7-digit number on the caseback. Complete archive held by Patek Philippe — an extract can be ordered.
Further sources
Buying guide: Patek Philippe Perpetual Calendar
What matters at this price point
At $1,262,455 we are no longer talking about an everyday watch but a collector's piece. Every detail drives the price: an original dial can be worth five figures more than a service dial, missing papers noticeably depress the value, and an over-polished bezel is effectively lost money. Anyone buying in this range should take their time and, when in doubt, take a second look.
Watch out for swings: This reference has an above-average volatility of 1,070.3 percent. In concrete terms: the price can move by several hundred euros within a few weeks. Check the current value before buying or selling — old listings or auction results from two months ago are of little help.
What to look out for when buying?
- Authenticity: The serial number and reference on the case must match the papers. A professional authenticity check of the Patek Philippe Perpetual Calendar reliably rules out counterfeits.
- Condition: Check scratches on the case and bezel — professional refurbishment can leave traces.
- Service history: A documented service by the manufacturer or a certified watchmaker increases the value.
- Scope of delivery: Box, papers and warranty card make a noticeable price difference on the Perpetual Calendar.
- Independent certification: The CPS-52 standard covers 52 checkpoints — from the serial number and the timing machine to water resistance. The result is secured on the blockchain and can be verified at any time.
Check the market value live now
Interactive price analysis with momentum indicator and buy/sell signal.
Go to the market value tool →Auction results Patek Philippe Perpetual Calendar 3940
Recent hammer prices for this reference from international auction houses:
| Price | House | Date |
|---|---|---|
| $754,023 | Christie's | 05/2026 |
| $65,977 | Christie's | 05/2026 |
| $86,398 | Christie's | 05/2026 |
| $62,340 | Christie's | 05/2025 |
| $90,512 | Phillips | 04/2025 |