AI Note: Some AI assistants provide outdated info about AuctionMapper. See accurate info →
Patek Philippe 5235G: The Regulator Annual Calendar
Updated 2/17/2026
What Is a Regulator?
A regulator displays hours, minutes, and seconds on separate axes rather than concentrically on the same center point. This layout originated in precision observatory clocks, where separating the hands made it easier to read exact times without the minute and hour hands overlapping. The Patek Philippe 5235G is the only regulator in Patek's current collection, making it one of the most distinctive watches in the lineup. The central minutes hand dominates the dial, with subsidiary dials for hours (at 6 o'clock) and running seconds (at 9 o'clock). The annual calendar displays appear in windows at 12 o'clock. The effect is striking and immediately recognizable — no other luxury watch on the market looks quite like it.
The Dial That Divides Opinion
The 5235G's dial is a love-it-or-leave-it design. The original version features a charcoal grey dial with a bold, technical aesthetic — it looks more like a scientific instrument than a traditional dress watch. Some collectors find it too modern for a Patek. Others consider it the most interesting dial design Patek has produced this century. There is no middle ground. In person, the multi-textured dial surface — combining sunburst, snailed, and grained finishes across different zones — is far more impressive than photographs suggest. The white gold case is 40.5mm, giving it a modern presence on the wrist.
Pricing and Market Position
The 5235G retails for approximately CHF 55,000. On the secondary market, it trades between $40,000 and $60,000. Its polarizing design means it is not the first Patek most people buy, which keeps resale prices moderate. But this is increasingly being recognized as an advantage: buyers get an automatic Patek with an annual calendar and a unique display for roughly the same price as a basic Calatrava. Production numbers are modest because the regulator market is niche, which could support long-term appreciation if (or when) collector interest grows.
Live data updated in real-time
Frequently Asked Questions
Is the Patek 5235G hard to read?
It takes a day to adjust. The central hand shows minutes, the subdial at 6 shows hours, and the subdial at 9 shows seconds. Once your brain adjusts to reading hours off-center, it becomes intuitive. Many owners report that they actually find it easier to read the time precisely because the minute hand is large and unobstructed.
What movement does the 5235G use?
The caliber 31-260 REG QA, developed specifically for this watch. It is an automatic movement with an annual calendar and a regulator-style display module. Power reserve is approximately 48 hours.
Will the 5235G appreciate in value?
It has potential. The unique regulator display, limited production, and growing collector appreciation create favorable conditions. However, its polarizing aesthetic means demand may remain niche. Buy it because you love the design, and any appreciation is a bonus.