Released in 1985, the Patek Philippe reference 3940 is a definitive step towards modernity, while still a complicated timepiece that draws on Patek’s history as, well, the best watchmaker ever.

A Collected Man has published an in-depth article on “Understanding the Patek Reference 3940”, with in-depth research and input from a number of experts. John Reardon perhaps puts it best when he says:

"For the price, there is arguably no other watch that encapsulates all that defines Patek Philippe.”

For me, the Patek reference 3940 is the first Patek Philippe I saw that made me go “OK, I get it.” It’s a perpetual calendar — a complicated movement that Patek does as well as anyone — but the watch looks modern and sleek, owing to the slim movement, new case shape and three-register layout that Patek introduced with this model. Perhaps it’s this dial layout that got me: It looks like those classic three-register chronographs so many collectors love, but it’s a freaking perpetual calendar instead.

This quote from A Collected Man captures the importance of the reference 3940 especially well:

Looking back, it is interesting to consider what else was going on at Patek Philippe during this period. Many choose to focus on the Nautilus 3700, in production during this time, as the embodiment of contrarian thinking from Patek Philippe. It certainly was in many ways, but the manufacture was also following a change of direction in consumer tastes, established by the Royal Oak a few years prior. The pair of complicated references – the 3970 and 3940 – were arguably equally, if not more, against the grain. Throughout this article, we will look to frequently compare the path of the 3940 with its sister reference, the 3970. Born from the same thinking, they share an extremely similar story.

While so many focus on its blockbuster stainless steel offerings, it’s clear that Patek has — and continues to — think of itself as a manufacturer of complicated wristwatches in precious metals for gentlemen. The reference 3940 exemplifies this as well as any watch it has ever made.

With a production run from 1985 to 2007, the reference 3940 is what many call “transitional” or “neo-vintage”. Not truly vintage, but not modern either. As I’ve written before, I think these watches represent great value and potential collectibility down the road. Beyond that, it’s a great way for collectors who typically buy modern watches to dip their toes into vintage.

The Patek reference 3940 is as good a place as any to begin looking at both “neo-vintage” and Patek as a brand — and this article is now essential reading to figure out where to start your journey towards that 3940.

Read A Collected Man’s full article here.