Early 2nd series 3940 with German calendar.

This example is classically crafted in yellow gold and retains the elegant proportions that define the reference. The case remains slim and beautifully balanced, with gently curved lugs and a profile that sits close to the wrist. At just under 37mm in diameter and exceptionally thin for such a complex watch, the 3940 wears with remarkable ease; sleek, discreet, and perfectly suited to daily use.

The dial further distinguishes this piece. It features a German calendar, a detail encountered less frequently and one that subtly alters the character of the watch. On this second-series dial we find the romantic typography typical of the period, with charming serif fonts that give the calendar indications a slightly playful, almost poetic appearance. Over time, a touch of warm aging has developed in the 24-hour sub-dial, adding gentle character without disturbing the dial’s harmony.

Importantly, this is not simply a second-series dial: it is an early execution from 1988, known among collectors as a Second Series Type 1 dial. During the long production run of the 3940 (1985–2007), several subtle dial evolutions occurred. The early second series retains many of the visual traits of the earliest watches, before later modifications were introduced.

Several details identify this early configuration:
- Absence of crosshairs: the leap-year sub-dial at 3 o’clock is clean and uninterrupted, without the crosshair divisions that would appear on later second-series examples.

- Recessed sub-dials with beveled edges: the registers at 3 and 9 o’clock are more distinctly sunken into the dial, creating a sculpted transition from the dial surface.

- Refined dial text: the “PATEK PHILIPPE” and “GENÈVE” signatures appear slightly larger and bolder than on the earliest dials, while the accent over the second “E” in “GENÈVE” used in the first series disappears in this generation.

- Traditional serif typography: the early second series retains the classical serif fonts of the earliest watches, lending the dial a timeless and slightly romantic aesthetic.

Each element exists for clarity and legibility. The result is a dial that feels calm and ordered; a composition that demonstrates Patek Philippe’s mastery of balance.

At the heart of the watch is the celebrated Patek Philippe Calibre 240 Q. This ultra-thin automatic movement with a micro-rotor became the foundation of Patek Philippe’s perpetual calendar programme for decades. Technically sophisticated and beautifully finished, it allows the watch to remain remarkably slim while accommodating one of the most complex calendar mechanisms in watchmaking.

Historically, the 3940 occupies a pivotal place within the brand’s lineage. It bridges the grand perpetual calendars of the mid-20th century with a more modern philosophy of proportion, wearability, and discreet elegance. For many years it remained somewhat underappreciated, quietly admired by collectors but overshadowed by other references. Only recently has the market begun to recognise its importance.

This watch is offered with its original Patek Philippe fold-over clasp and an Extract from the Archives, confirming its production and subsequent sale in 1988; the very first year this 2nd series was introduced.