Patek Philippe’s new launches for 2024 included novel complications like the World Time Date ref. 5330G and a “salmon” face for the flagship perpetual calendar ref. 5236P, and also a watch that exemplifies formal simplicity, the Golden Ellipse Ref. 5738/1R-001.

The new Golden Ellipse is a two-hander in the model’s largest size, but stands out for its bracelet. The only men’s watch in the current catalogue with an integrated bracelet that isn’t a Nautilus, the ref. 5738/1R has a “chain-style” bracelet made by Wellendorff, a German jeweller that has long supplied bracelets to a variety of watch brands.

Initial thoughts

The Ellipse is one of Patek Philippe’s trademark models but relatively under the radar, especially compared with its famous integrated-bracelet sports watch cousin designed in the same era. But the Ellipse has its appeal, particularly as a no-frills formal watch.

Most commonly seen on a strap, the Ellipse feels strikingly different on a bracelet, although it is still easily recognisable. The gold bracelet evokes the mesh bracelets popular in the 1970s and gives the ref. 5738/1R a pronounced retro feel.

The bracelet is finely wrought and supple. Up close, the bracelet also reveals a surprisingly intricate design that contrasts with the simplicity of the case.

The fact that the bracelet is made by Wellendorff is both a strength and weakness. It has the flexibility of fine jewellery but also the open-ended clasp typical of a jewellery, instead of the closed-ended clasp typical of watch bracelets. Though both clasp types are equally secure and functional on the wrist, putting on an open-ended clasp is a little bit more complex and brings with it the minuscule risk of the watch accidentally slipping off.

The ref. 5738/1R costs US$60,100, which is not all exorbitant considering the typical premiums that high-end brands charge for precious metal bracelets.

The bracelet is assembled by hand. Image – Patek Philippe

Ellipse d’Or

Designed in 1968 by the brand’s head designer at the time, Jean-Daniel Rubeli, the Golden Ellipse was one of several oval watches offered by various brands, including Audemars Piguet.

But today the Ellipse has become one of Patek Philippe’s signature models. Both simple and recognisable, the Ellipse is a perfect formal dress watch but also a canvas for decoration ranging from engraving to skeletonisation.

The Golden Ellipse model timeline at its 50th anniversary in 2018. Image – Patek Philippe

The enamelled Golden Ellipse ref. 5738/50G-027 “Trees in the Mist” from this year’s Rare Handcrafts collection

The ref. 5738/1R forgoes decoration and keeps it simple with a dial that is classic Ellipse style, just baton hands and indices. It is essentially identical to the ref. 5738R on a strap, save for the bracelet. According to Patek Philippe, the bracelet cannot replaced the strap on the ref. 5738R, and vice versa.

The dial is radially brushed and a metallic black that appears grey at some angles. Though simple the dial is expensively executed – the dial plate is solid 18k gold, as are the hands and hour indices.

The ref. 5738/1R has the largest-sized Ellipse case, which is 34.5 mm in diameter and just 5.9 mm high. It’s ideal for a dress watch, neither too big nor too small, with the case being just right in size and slimness.

The case sits extremely flat on the wrist, and feels just as elegant with the bracelet as it does with a strap – a testament to the fineness of the bracelet.

Under the solid back is the cal. 240, the automatic movement that has been Patek Philippe’s go-to calibre for thinner watches for decades. Equipped with a micro-rotor, the cal. 240 was introduced in 1977 – appropriately enough making its debut in the Golden Ellipse ref. 3738 introduced the same year.

Almost 50 years old, the cal. 240 isn’t as large or modern as Patek Philippe’s latest generation cal. 31-260, but it is a refined and thin movement that has been progressively upgraded over time. Amongst the upgrades are a silicon hairspring and reworked wheels that optimise the going train and winding.

The cal. 240 as seen in the World Time ref. 5330G

In 18k rose gold to match the case, the “chain-style” bracelet is made up of 363 parts. That includes the screws and pins that hold it together, but it’s still an impressive part count.

At a distance the bracelet motif is difficult to discern, but at arm’s length a repeating “V” pattern is obvious. It contrasts with the simple rounded form of the case, but complements it perfectly.

The bracelet is made by Wellendorff, the family-owned jewellery in Pforzheim, the historical centre of jewellery-making in Germany. Wellendorff is perhaps better known for having made bracelets for A. Lange & Söhne, though it has also done the same for several brands including Breguet.

According to Patek Philippe, the bracelet is made by hand – each link is mirror polished manually, and the bracelet is subsequently assembled by hand. As is convention for such bracelets, the links are stacked up on each of the bracelet pins before the ends are secured with screws.

Importantly, the screwed construction means the bracelet can be sized by removing links, instead of having to cut and solder the end as is the case with older mesh bracelets.

Stacking up the gold links. Image – Patek Philippe

However, the bracelet is a jewellery bracelet, so its closure is an open-ended clasp with three notches for sizing. Putting it on isn’t as easy as with a closed-end watch bracelet, and certainly not something to attempt with the watch a few feet above the floor.

But the delicate process of wearing the watch reflects the fact that it’s a formal dress watch that will mostly likely be worn with attire that requires equal attention, like cufflinks and studs. While not convenient, the clasp is perhaps appropriate.

Key facts and price

Patek Philippe Golden Ellipse
Ref. 5738/1R-001

Diameter: 34.5 mm
Height: 5.9 mm
Material: 18k rose gold
Crystal: Sapphire
Water resistance: 30 m

Movement: Cal. 240
Functions: Hours and minutes
Frequency: 21,600 beats per hour (3 Hz)
Winding: Automatic
Power reserve: 48 hours

Strap: 18k rose gold bracelet with three adjustment notches in clasp

Availability: Now at retailers
Price: US$60,100; or 87,000 Singapore dollars

For more, visit Patek.com.