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Patek Philippe 5270: Perpetual Calendar Chronograph
Updated 2/17/2026
Patek's Flagship Complicated Chronograph
The Patek Philippe 5270 is a perpetual calendar chronograph — combining two of watchmaking's great complications in a single wristwatch. Introduced in 2011, it was the first Patek perpetual calendar chronograph to use an entirely in-house movement, the caliber CH 29-535 PS Q. The '5270' designation has become shorthand among collectors for 'the best perpetual calendar chronograph money can buy.' It replaced the 5970, which used a Lemania-based movement and has itself become a significant collector's piece.
The Variant History
Patek has released the 5270 in a remarkable variety of configurations over its production life. The 5270P-001 in platinum with a black dial was the original. The 5270R-001 in rose gold with a silvery-opaline dial followed. The 5270/1R added a rose gold bracelet — a first for Patek perpetual calendar chronographs. Most recently, the 5270J in yellow gold created enormous buzz among collectors for its vintage-inspired aesthetic. Each new variant tends to drive interest (and prices) across the entire 5270 family, as collectors who missed the latest release look to acquire earlier versions.
5270P-001: Platinum, black dial — the original, most collectible
5270R-001: Rose gold, silver dial — most commonly traded
5270/1R-001: Rose gold on bracelet — first bracelet variant
5270G-018: White gold, green dial — limited production, strong appreciation
Pricing Across Variants
The 5270 retails for approximately CHF 180,000-CHF 220,000 depending on the metal and configuration. On the secondary market, prices range widely by variant. The rose gold 5270R can be found for $150,000-$200,000. White gold versions typically trade at $180,000-$250,000. Platinum examples command $250,000-$350,000. The bracelet version (5270/1R) carries a premium due to its novelty and limited availability. Overall, the 5270 represents a sweet spot: significantly more affordable than the 5204 split-seconds but offering a grand complication that is deeply respected by collectors.
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Investment Outlook
The 5270 has excellent long-term investment potential. Its predecessor, the 5970, has appreciated from a retail price of approximately CHF 105,000 to current market values of $200,000-$350,000 — roughly a 2-3x increase over 15 years. The 5270 is likely to follow a similar trajectory once discontinued. Key factors favoring appreciation: entirely in-house movement (collectors value this increasingly), perpetual calendar chronograph complication (the pinnacle of useful complications), and Patek's track record of value retention. The risk: the 5270 is still in production, meaning supply continues to enter the market.
Frequently Asked Questions
How much does a Patek Philippe 5270 cost?
Retail price is CHF 180,000-220,000. Secondary market prices range from $150,000 for a rose gold example to $350,000+ for platinum. The price depends heavily on the specific variant, condition, and completeness of documentation.
What is the difference between the 5270 and 5970?
The 5970 (2004-2011) uses a Lemania-based movement and a 40mm case. The 5270 (2011-present) uses Patek's in-house caliber CH 29-535 PS Q and a 41mm case. Both are perpetual calendar chronographs. The 5970 is discontinued and appreciating; the 5270 is current production.
Is the 5270 a good first grand complication?
If your budget allows it, the 5270 is an outstanding first grand complication. The perpetual calendar chronograph is genuinely useful (you can time events and never need to adjust the date), the in-house movement is technically exceptional, and the investment outlook is strong.