Patek Philippe Complications Explained: Annual Calendar, Perpetual Calendar, Chronograph and Minute Repeater

Patek Philippe sorts its complicated watches into two collections. "Complications" covers the annual calendar, the World Time, the Travel Time and the chronograph: useful functions that need occasional setting. "Grand Complications" covers the perpetual calendar, the perpetual calendar chronograph, the split-seconds chronograph, the minute repeater, the tourbillon and the sonneries: the mechanisms that took centuries to develop and that Patek regards as its core. This guide explains what each complication does, how Patek builds it, which references carry it in 2026, roughly what each step costs to source and what to check before buying one. Bizak & Co. sources Patek Philippe complications to order; the Patek Philippe Complications collection lists the references we can seek.

Last reviewed on September 21, 2026 by Filip Biczak. Prices are dated observations, not quotes.

Patek Philippe complications at a glance

The Patek Philippe collection pages list every current reference under these two headings, and the split matters for buying: Complications are sold through authorised retailers on allocation, while most Grand Complications, and every striking watch, are sold by application to the manufacture.

What is a Patek Philippe annual calendar?

Patek Philippe patented the annual calendar in 1996 with the reference 5035. It shows day, date and month and knows which months have 30 and which 31 days, so the only correction is on 1 March each year, when it has stepped through a 29th and 30th of February that do not exist. It is simpler and cheaper than a perpetual calendar because it does not need a 48-month cam for leap years, and it has become Patek's best-selling complication. The current 5205 (40 mm, calibre 324 S QA LU 24H/303) shows the calendar in three apertures with a moon phase and a 24-hour dial; the 5396 (38.5 mm, calibre 324 S QA LU 24H) puts day and month in a line at 12 and the date at 6; the 5905 (42 mm, calibre CH 28-520 QA 24H) adds a flyback chronograph; the 5726 puts the annual calendar in the Nautilus case; the 4947 and 4948 are the 38 mm versions for women. On 21 September 2026 our sourced catalogue listed the 5205G-013 at US$50,984, the 5205R-010 at US$56,458, the 5396G-014 at US$48,850, the 5396R-015 at US$60,165 and the steel 5905/1A-001 at US$56,650, all sourced to order.

What is a Patek Philippe perpetual calendar?

A perpetual calendar shows day, date, month, leap-year cycle and usually the moon phase and needs no correction until 2100, when the Gregorian calendar skips a leap year. Patek made the first perpetual calendar wristwatch in 1925 and the first in series, the 1526, in 1941. The mechanism is a 48-month cam that tells the date wheel how long each month is; the moon phase in a Patek is accurate to one day in 122 years. Current references: the 5327 (39 mm, calibre 240 Q, hand-engraved case), the 5236P in-line perpetual with day, date and month in a single window (calibre 31-260 PS QL), the 5320G (40 mm, calibre 324 S Q, cream dial with 1940s styling), the 5740/1G Nautilus perpetual (calibre 240 Q) and the 7140 for women. On 21 September 2026 our catalogue listed the 5327G-001 at US$69,421, the 5320G-001 at US$64,890, the 5236P-001 at US$107,738, the 7140R-001 at US$72,923 and the 5740/1G-001 at US$298,695, all sourced to order. The Nautilus 5740 guide covers the Nautilus perpetual in detail.

Which Patek Philippe chronographs and perpetual calendar chronographs are made today?

Patek makes three families of in-house chronograph movement. The CH 29-535 PS is a hand-wound column-wheel chronograph introduced in 2009, used in the 5172G (41 mm) and, with a perpetual calendar module, in the 5270 and 5271. The CH 28-520 is a self-winding flyback chronograph introduced in 2006, used in the 5905, 5968 Aquanaut, 5980 Nautilus, 5990 Nautilus Travel Time and 5935 World Time chronograph. The CHR 27-525 PS and CHR 29-535 PS are the split-seconds movements in the 5370, 5372 and 5204. The perpetual calendar chronograph is the Patek complication with the longest lineage: 1518 (1941 to 1954), 2499 (1951 to 1985), 3970 (1986 to 2004), 5970 (2004 to 2011) and 5270 (2011 to date), each of which is collected as a reference in its own right. On 21 September 2026 our catalogue listed the 5172G-001 at US$70,710, the 5905R-010 at US$77,341, the 5270P-001 at US$193,639, the 5270/1R-001 on a bracelet at US$183,005, the 5370P-011 at US$213,725 and the 5204G-001 at US$239,475, all sourced to order.

What is a Patek Philippe minute repeater and how does it work?

A minute repeater strikes the time on demand. Sliding the bolt on the case flank winds a small spring that drives two hammers against two gongs coiled around the movement: a low note for each hour, a high-low pair for each quarter and a high note for each minute past the quarter. Patek Philippe regards the repeater as the summit of its craft; every repeater is listened to and approved by the company president before it leaves Geneva, and the gongs are tuned by ear. Current references range from the 5078 (38 mm, calibre R 27 PS) and 5178 with cathedral gongs (40 mm), through the 5303 and 5304 with skeletonised movements, the 5316 and 5374 which add a perpetual calendar and tourbillon, the 5372 which adds a split-seconds chronograph, and the 5531 World Time repeater, to the 6301P grande and petite sonnerie and the 6300 Grandmaster Chime. All are sold by application. On 21 September 2026 our catalogue listed the 5078G-001 at US$348,749, the 5178G-001 at US$401,759, the 5374G-001 at US$1,030,000, the 5531G-001 at US$1,256,599 and the 6301P-001 at US$2,195,731 to US$4,045,499 across two examples, all sourced to order. The Grand Complications collection lists the striking references we can seek.

What are the Patek Philippe World Time and Travel Time?

The World Time descends from the 1930s system of Geneva watchmaker Louis Cottier: a rotating 24-hour ring and a city ring for 24 zones, with a pusher at 10 that advances the local hour, the city ring and the 24-hour ring together. The 5230 (38.5 mm, calibre 240 HU) is the standard reference, the 5231 adds a cloisonné enamel map, the 5330 adds a date synchronised to local time, and the 7130 is the 36 mm version for women. The Travel Time is a simpler two-zone display with a second hour hand for home time and two day-night apertures, adjusted by pushers on the left of the case: the 5164 Aquanaut, the 5524 Calatrava Pilot and the 5990 Nautilus chronograph carry it. On 21 September 2026 our catalogue listed the 5230R-001 at US$43,772, the 5230P-001 at US$68,197, the 7130R-014 at US$49,954, the 5524G-010 at US$61,187, the 5164A-001 at US$100,940 and the 5990/1A-001 at US$124,063, all sourced to order. The Nautilus 5990 guide covers the Travel Time chronograph.

Which Patek Philippe complication should you buy first?

Whichever you choose, buy the complication you will use. A perpetual calendar that sits in a safe for a month stops and has to be reset, which on a Patek is done through recessed correctors with a stylus and takes time; a winder solves that but adds a dependency. An annual calendar or a World Time forgives neglect better than a perpetual.

How much do Patek Philippe complications cost in 2026?

• Retail. Patek Philippe publishes list prices on its product pages, and they rise most years. The order runs annual calendar and World Time at the bottom, then manual chronograph and Travel Time, then perpetual calendar, then perpetual calendar chronograph and split-seconds, then minute repeaters and sonneries at multiples of everything below them. Check the Patek page for the current figure.
• Secondary market. Complications in the Calatrava-style cases trade near retail; the same complications in a Nautilus or Aquanaut case trade well above it. On 21 September 2026 our catalogue ran from US$43,772 for a 5230R World Time to US$4,045,499 for a 6301P Grand Sonnerie, all sourced to order.
• What moves the price. Metal (platinum above rose gold above white gold on most references), dial variant, full set with certificate, and whether the watch is a current or discontinued reference. Discontinued perpetual calendar chronographs such as the 5970 and 3970 trade on their own curve.

Those figures describe what we saw and will move. Ask for a dated quote for the exact reference and set; our Patek Philippe price guide explains how to compare quotes across references.

Buying a Patek Philippe complication: what to check

• Certificate of origin. Movement and case numbers matching the watch; Patek does not reissue it. For an older watch, an extract from the archives confirms the original configuration.
• Calendar function. Advance the calendar through a month end with the correctors and confirm every indication changes together; a perpetual should show the correct leap-year position.
• Chronograph action. Start, stop and reset should be crisp; a flyback should reset and restart in one push; split-seconds hands should re-align exactly.
• Repeater strike. Hear it at several times of day; the sequence must be right and the gongs clear, with no buzz from a loose gong.
• Service history. Complicated calibres cost more to service; ask for the last Patek receipt and whether the calendar or chronograph module was overhauled.
• Case and dial. Crisp edges and hallmarks, correct dial code, no polishing on the engraved cases of the 5327 and 5304.
• Price against the band. A full-set Patek complication offered far under the market is the single most reliable warning sign.

Our authentication process describes what we inspect before dispatch.

Quick answers

What is the difference between a Patek Philippe annual calendar and a perpetual calendar?

An annual calendar knows 30 and 31-day months and needs one correction a year, on 1 March. A perpetual calendar also knows February and leap years and needs no correction until 2100. Patek lists the annual calendar under Complications and the perpetual under Grand Complications.

What is the cheapest Patek Philippe complication?

The World Time 5230 and the annual calendar 5396 and 5205 are the lowest steps. On 21 September 2026 Bizak's sourced catalogue listed the 5230R-001 at US$43,772 and the 5396G-014 at US$48,850, sourced to order.

How does a Patek Philippe minute repeater work?

A slide on the case winds a spring that drives two hammers against two gongs, striking a low note per hour, a two-tone note per quarter and a high note per minute. Every Patek repeater is approved by the company president before delivery.

What is the Patek Philippe 5270?

The current perpetual calendar chronograph, introduced in 2011 with the hand-wound calibre CH 29-535 PS Q. It follows the 1518, 2499, 3970 and 5970 in Patek's longest-running complicated line.

Can you buy a Patek Philippe Grand Complication at retail?

Only by application. Perpetual calendars are allocated by authorised retailers to established clients; minute repeaters and sonneries are approved by the manufacture in Geneva. Most buyers source them on the secondary market.

Request a Patek Philippe complication sourcing quote

Tell us the complication, reference and metal, preferred year range, condition and whether the certificate of origin is required, plus your budget and timing, through our sourcing enquiry form. We confirm the specific watch, photographs, certificate and final price before you commit. Catalogue entries: Annual Calendar 5205G-013, World Time 5230R-001, Chronograph 5172G-001, Perpetual Calendar 5320G-001, Perpetual Calendar Chronograph 5270P-001, Minute Repeater 5178G-001; browse the Complications collection, the Grand Complications collection, or sell or trade your Patek Philippe.

Related reading: Nautilus 5740 perpetual calendar guide · Nautilus 5990 Travel Time chronograph guide · Patek Philippe price guide · Patek Philippe authentication guide.