Hands On: Patek Philippe Nautilus Ref. 5610P and Vacheron Constantin Overseas Ultra-Thin
The golden age of the platinum sports watch.
Comparison is often said to be the thief of joy, but the numerous attributes of the Patek Philippe Nautilus ref. 5610P and Vacheron Constantin Overseas Self-Winding Ultra-Thin ref. 2500v are arguably best understood in a side-by-side format. The watches are extraordinarily similar — each watch features a platinum case and bracelet, a slim micro-rotor automatic movement, and a rare two-hand, no-date configuration.
Beyond their tangible similarities, both watches are limited editions priced within 7% of one another, and were launched to mark milestone anniversaries of their respective collections.
Initial thoughts
Rarely do rival brands treat collectors to such a perfect match-up. Patek Philippe and Vacheron Constantin could hardly have done more to go toe-to-toe, and have unexpectedly made 2026 the golden age of the platinum sports watch.

The original Patek Philippe Nautilus from 1976 was provocative precisely because it was made in steel at a time when ‘high-end’ still meant precious metal. Five decades later, the steel sports watch trend has arguably peaked, making the stealthy platinum ref. 5610P a fitting tribute. It captures the look of the original without diluting its legacy with yet another steel variant.
While Vacheron Constantin has dabbled in steel sports watches since as far back as 1977 with the 222, the Overseas collection only debuted in 1996. Now in its third generation, the Overseas has evolved into a substantive rival to both the Patek Philippe Nautilus and Audemars Piguet Royal Oak.

The new ref. 2500V is the first Overseas to feature a platinum case and bracelet, and serves as the launch platform for the all-new micro-rotor calibre 2550 that appears destined for service across the brand’s collections.
Naturally, the watches differ mainly in design and colour. The Nautilus sticks closely to the look of the original 1976 ref. 3700, with its signature Gerald Genta design and horizontally grooved navy blue dial. The Overseas, on the other hand, pairs its platinum case with a copper-hued salmon dial.
I prefer the earlier ref. 2000V’s more subtle sunburst grey dial, but copper pink is a popular colourway — especially when paired with platinum — and helps create more aesthetic distance between itself and the Nautilus.

Both watches should prove widely appealing given their high-end construction, premium materials, and aesthetic versatility, to say nothing of the collector hype that still surrounds both collections. For collectors who can’t get both, the choice between them may well rest as much on access as personal taste, as demand will surely outstrip supply.
In this duel, Vacheron Constantin finds itself in the unusual position of being priced slightly higher than its rival. The 7% premium is arguably justified by the greater limitation — just 255 pieces of the ref. 2500V will be produced, while Patek Philippe has pledged to make 2,000 pieces of the ref. 5610P. Of course, six figures is a lot of money for a time-only watch from a major brand, but the market will surely bear it.

Understanding their place in history
The Nautilus ref. 5610P was introduced to celebrate the 50th anniversary of the original Nautilus ref. 3700 in 1976. The two-hand format, sans running seconds, results in a slim hand stack that goes a long way toward capturing the spirit of the original — magic that subsequent references with central seconds hands arguably failed to achieve.
The lack of a date indicator is a welcome surprise, making it the first two-hand Nautilus — alongside the 41 mm ref. 5810G — to delete the date. While it’s tempting to think this is a nod to contemporary collector preferences, it likely has more to do with the characteristics of the cal. 240, which has never been configured with a date ring and instead has always indicated the date with a pointer on a sub-dial, if at all.

Like all platinum watches from Patek Philippe, the Nautilus ref. 5610P denotes the material with a discreet diamond, in this case placed at nine o’clock.
The use of the cal. 240 rather than a thicker central seconds movement like the cal. 26-330 was critical to achieving — even exceeding — the elegant proportions of the original ref. 3700. With a diameter of just 38 mm and a case height of just 6.9 mm, the ref. 5610P is roughly the same diameter (when measured corner to corner) and about 0.6 mm thinner than its historical predecessor.
In contrast, the Overseas ref. 2500V calls back to a more recent moment, though it is itself an anniversary edition of sorts, debuting 30 years after the launch of the Overseas collection and 10 years after the first Ultra-Thin ref. 2000V.

The white gold ref. 2000V was not a limited edition, but it was produced in small enough numbers that it remains sought-after and trades well above its original retail price. At just 7.5 mm thick, it was the thinnest Overseas ever made, and cut an elegant profile on the wrist.
The ref. 2000V was powered by the cal. 1120, based on the same Jaeger-LeCoultre cal. 920 ebauche Patek Philippe used to create the cal. 28-255C in the original Nautilus. This platform was used briefly by Patek Philippe, but it remained in Audemars Piguet’s collection for 50 years and continues to power some of Vacheron Constantin’s perpetual calendars, and is still the thinnest full-rotor automatic movement in production.

But its days are numbered. Audemars Piguet — which has produced the movement since 2000 — recently replaced it with the more industrial cal. 7121, and the debut of Vacheron Constantin’s cal. 2550 is another nail in its coffin.

The new ref. 2500V builds on the legacy of the ref. 2000V, trimming the diameter from 40 mm to 39.5 mm and reducing the thickness by 0.15 mm thanks to its slightly thinner micro-rotor calibre. It retains its predecessor’s two-handed configuration and lacks a date, giving the dial a degree of discretion typically reserved for dress watches.
Battle of the bracelets
The bracelets of both watches are arguably class-leading in their own respective ways. The iconic Nautilus bracelet was penned by Gerald Genta, and I think it’s fair to say the design has aged like a fine wine. The tapered, almost organic-looking H-link design has become synonymous with the Nautilus and Patek Philippe in general, though it’s been widely copied. The smooth, pebble-like links are soft against the skin, and slide easily under a shirt sleeve without snagging.

The Nautilus bracelet’s iconic status is partly due to its familiarity — it’s been a feature of the fine watchmaking landscape for much of living memory. But the design itself is universal — had history taken a different course, we might associate it with a different brand. In contrast, the Overseas bracelet design is something that only Vacheron Constantin could make, distinguished by its recurring Maltese cross motif up and down the tapered links, matching the bezel.
The bracelet of the Overseas is slightly thicker than that of its rival, though both bracelets feel similarly proportional to their respective case thicknesses. But it feels entirely different owing to the limited articulation of its links, which give the bracelet a sturdy, cuff-like feel. In contrast, the Nautilus bracelet feels more supple, and drapes on the wrist more like a piece of jewellery.

Both bracelets are well-matched in another respect, which is the approach to micro-adjustment. Though the implementation is slightly different between the Nautilus and the Overseas, both bracelets enable the wearer to easily extend the bracelet on each side of the clasp to accommodate swelling when the weather turns warm.
This is a welcome ergonomic detail expected by many contemporary collectors, but this feature is rarely executed with such elegance. For example, the adjustable clasp of the Odysseus from A. Lange & Söhne is a bulkier design that wears its functionality on its sleeve — quite literally — in the form of an obvious adjustment button. In contrast, the discreet extension functionality on the Nautilus and Overseas is not immediately obvious.

Of course, for those who prefer the option of wearing a watch on a strap, the Overseas offers the benefit of interchangeable leather and rubber straps that can be swapped in seconds without tools, and without the risk of scratching either the case or bracelet. This functionality makes the Overseas a bit more versatile, especially for those who might grow tired of the intimidating heft of the platinum bracelet.
For collectors focused on preserving like-new condition, the ability to wear the watch on a strap — and keep the bracelet out of harm’s way — makes the Overseas arguably more suited to daily wear.
That’s true in another respect as well, since the 950 platinum case of the Overseas is alloyed with copper and gallium rather than ruthenium. According to Vacheron Constantin, this composition makes the case and bracelet 2.7 times more scratch resistant than ordinary 950 platinum.

Micro-rotor match up
While the Patek Philippe cal. 240 is a familiar face, the cal. 2550 powering the Overseas is a completely new construction. Its contemporary make is evident in its dimensions — its 30.6 mm diameter is sized for larger modern watches, while the cal. 240’s versatile 27.6 mm diameter is a reflection of its era, having been developed in the 1970s. Though larger in diameter, the cal. 2550’s 2.4 mm height makes it is a hair thinner than its cross-town counterpart, though the 0.13 mm difference is trivial.

The cal. 2550 looks more modern on paper as well thanks to its lengthy 80-hour power reserve — almost an eternity for such a slim construction. The twin stacked mainspring barrels unwind in series — a configuration reminiscent of the Chopard cal. 1.96. The Patek Philippe cal. 240’s single mainspring barrel offers 45 hours of autonomy, a figure considered ample when the movement debuted, and one that is still adequate for daily wear.
The oscillators in both movements are free-sprung, with flat hairsprings mounted to Geneva-style stud carriers. Each is adjusted with two pairs of inertia blocks, and the regulating organs could hardly be more well-matched.
Interestingly, the cal. 240 found in the Nautilus is arguably more technically advanced than its more modern counterpart thanks to Patek Philippe’s active role in championing the development of silicon components over the past two decades. As a result, the 20th-century calibre has a distinctly 21st-century silicon hairspring, which helps this historical movement deliver state-of-the-art performance of -1/+2 seconds per day.

While Vacheron Constantin’s cal. 2550 should easily eclipse the threshold for the Geneva Seal of +/- 1 minute per week, Patek Philippe does not get enough credit for pushing the bounds of performance. That the brand can squeeze this kind of timekeeping from a nearly 50 year-old platform running at 3 Hz is quite the achievement, and demonstrates the tangible advantages of silicon hairsprings.
The case-matched platinum micro-rotor in the Overseas’ cal. 2550 is a thoughtful detail, and offers the benefit of slightly more mass relative to the 22k gold micro-rotor in the Nautilus’ cal. 240. That said, 2026 is the latter’s golden jubilee, so the choice to stick with the standard yellow gold rotor is rather poetic.
Both rotors are mounted in ceramic ball bearing races, though only the cal. 2550 winds in both directions. This implies greater efficiency, though the topic remains disputed and depends on numerous factors. As a point of reference, F.P. Journe is an example of a brand that has abandoned bidirectional winding in favour of unidirectional winding for the sake of winding efficiency.

If I could change one thing about the 50th anniversary treatment applied to the cal. 240, it would be the overly simple choice of font for the engraving on the rotor. In the brand’s marketing materials, Patek Philippe uses a stylised ‘0’ in the ’50’ shaped like the Nautilus case — such a detail would have elevated the anniversary engraving.
One critical difference between the two calibres in the layout of the gear train. The cal. 240 was developed primarily as an ultra-thin base calibre for Patek Philippe’s perpetual calendar modules, so the position of the fourth wheel — and hence the running seconds — seems not to have been a key priority. As a result, the movement features a natural running seconds at the unusual four o’clock position when thus equipped, which limits the movement’s versatility.
On the other hand, the Vacheron Constantin cal. 2550 positions the fourth wheel at the six o’clock position, suggesting it was purpose-built to accommodate a small-seconds configuration.

In terms of finishing, both calibres are a credit to their makers. Both Geneva-made movements express their native terroir with Cote de Geneve, and feature rounded bevels polished well enough to reflect their surroundings. While both brands utilise industrial techniques to produce, and party to finish, these movements, the finishing touches are applied by hand.
For movements developed nearly half a century apart, the cal. 2550 and cal. 240 are surprisingly well matched. Both movements reflect the market preferences of their respective eras, both in terms of size and trade-offs between autonomy and torque. More importantly, both movements embody the best traits of traditional Genevan fine watchmaking, being slim, well-finished inside and out, and technically competent.
Closing thoughts
It’s not necessary to declare a winner in a well-balanced match-up like this. The Nautilus leans into nostalgia with its original 1970s design and supple bracelet, but manages to stay technically relevant thanks to its silicon hairspring-equipped cal. 240. The Overseas feels more contemporary, with its round dial, popular salmon-hued colourway, longer power reserve, and interchangeable bracelet system.
They are more defined by what they have in common, being the slimmest variants yet in their respective collections — this obvious commitment to on-wrist elegance transcends the norms of the ‘sports watch’ category and makes them appealing alternatives to some dress watches. Visually, both watches possess the easy-wearing subtlety of steel, but on the wrist they offer the commanding heft that only platinum can provide.
Key facts and price
Patek Philippe Nautilus 50th Anniversary
Ref. 5610/1P-001
Diameter: 38 mm
Height: 6.9 mm
Material: Platinum 950
Crystal: Sapphire
Water resistance: 30 m
Movement: Cal. 240
Functions: Hours and minutes
Frequency: 21,600 BPH (3 Hz)
Winding: Automatic
Power reserve: 45 hours
Strap: Matching bracelet
Limited edition: Yes, 2,000 pieces
Availability: At Patek Philippe retailers and boutiques
Price: US$112,529 excluding taxes
For more, visit Patek.com.
Vacheron Constantin Overseas Self-Winding Ultra-Thin
Ref. 2500V/220P-H028
Diameter: 39.5 mm
Height: 7.35 mm
Material: Platinum 950
Crystal: Sapphire
Water resistance: 50 m
Movement: Cal. 2550
Functions: Hours and minutes
Winding: Automatic
Frequency: 21,600 beats per hour (3 Hz)
Power reserve: 80 hours
Strap: Matching bracelet with interchangeable rubber and leather straps with folding clasp
Limited edition: Yes, 255 pieces
Availability: At Vacheron Constantin boutiques
Price: US$120,000 excluding taxes
For more, visit vacheronconstantin.com.
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