The Blue-Chip Ellipse.
There are watches that flirt with the idea of elegance, and then there’s the Ellipse. Patek Philippe’s golden child of the 1970s, it took the brand’s obsession with proportion and turned it into an icon — one that’s been on the wrists of collectors, financiers, and at least one person who probably told you to “diversify your portfolio.”
This Ref. 3548 is the textbook configuration: a sunburst blue dial that dances between royal and midnight, wrapped in 18k yellow gold that feels every bit as smooth as it looks. The case measures 27 x 32mm, making it the larger and rarer size, and it flows seamlessly into an integrated bracelet with a subtle scale pattern that catches light like a perfectly polished gold coin.
Under the hood, it’s powered by Patek’s hand-wound caliber 23-300, the same engine that kept the Ellipse ticking through the decade that defined it. Both the crown and clasp carry the Calatrava cross — a quiet nod to the family crest before it became a logo.
Back in the day, Patek’s ads called it “a $1,700 trust fund.” Today, it’s more like a blue-chip index you can wear on your wrist — steady, proven, and strangely addictive. You could buy a dozen other watches, or you could own the one that still defines Patek Philippe’s sense of taste.

Excellent overall condition with minor signs of light wear consistent with age.
18k yellow gold case retains strong proportions with defined edges.
Blue sunburst dial in great condition, free from major spotting or blemishes.
Caseback shows light surface marks only.
Original gold stick hands and crystal in great shape.
Integrated woven gold bracelet tight and shows minor wear.
Manual-wound Patek Philippe Caliber 23-300 running accurately and smoothly.



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