Patek Philippe Ref. 3417 Amagnetic in a 35mm case, circa 1959. Sold for £28,750 at Bonham’s 4 December auction in London. Photo: © Bonhams

The Ref. 3417 “Amagnetic” first launched by Patek Philippe in 1958 was initially equipped with the Calibre 12’’’400 AM movement. In 1960, it was replaced by the Calibre 27-AM 400 before it was discontinued in the late 1960s, according to auctioneer Bonhams.

Though models of Patek Philippe’s Ref. 3417 were last produced in the 1960s, they remain very much in demand.

As J. Michael Mehltretter states in his book Patek Philippe: Cult Object and Investment (published in 2012), the Ref. 3417 “Amagnetic” is “among today’s most sought-after watches” from the brand.

Interestingly, he adds that the Patek Philippe Ref. 3417 “Amagnetic” only came in a steel case.

One such Patek Philippe Ref. 3417 in stainless steel with the Calibre 12’’’400 AM and made in around 1959 was sold for £28,750 (including buyer’s premium) at Bonham’s 4 December 2013 auction only after a “tense” bidding war, states the auctioneer.

This backs the point that the Patek Philippe Ref. 3417 is still collectible in the “present tense” and not in the “past tense” (pun most definitely intended).

“The sale of the Amagnetic Patek Philippe caused a real stir,” notes Paul Maudsley, head of Bonhams Watch Department.

Another example of a Patek Philippe Ref. 3417 in steel which houses the Calibre 12’’’400 AM and made in 1958 sold for 25,000 Swiss francs or 28,583 euros in Geneva in May 2013, according to collectorsquare.com.

At the same Bonham’s 4 December 2013 auction, the Rolex Panerai 3646 (shown below), which was discussed in a previous article: Rolex Panerai 3646: Rare because few dared, sold for £56,250, way above its estimated valuation of between £18,000 and £22,000. Only 30 examples of this Rolex Panerai 3646 were made.

The Rolex Panerai 3646 was sold for £56,250 at the same Bonham’s 4 December auction. Photo: © Bonhams