Collecting Guide | Patek Philippe Nautilus 3700

My feelings towards the Patek Philippe Nautilus can be a mix of love and hate. Love because it was my very first Patek Philippe over ten years ago. Hate might be a strong word but it is out of a certain helplessness. In recent years the once-belonged-to-nerds-only Nautilus has become really popular that it is not a little secret any more.

Even so, I still believe Nautilus holds a special place within Patek Philippe’s universe: a steel watch that is robust enough for daily wear, yet refined enough to carry the weight of the brand name. It has become an icon, a shape you could recognize instantly, just like the Swiss Army knife or the Eiffel Tower.

So today, let’s talk about Nautilus, a name that has carried too much fame, but the oldest and very original reference: first generation ref. 3700.

 

 

01. History

2026 marks the 50th anniversary of the Nautilus. One can easily imagine if Patek Philippe were to release another limited edition piece similar to the 5711 with Tiffany blue dials, oh the frenzy. 50th is a big year, which Patek Philippe is likely to issue a product that pays tribute to its original Nautilus. Perhaps one that removes the seconds hand and return to the classic two-hands design?

By now, any watch enthusiast should already heard at some point that the Nautilus reference 3700, was designed by the legendary Gerald Genta. At the time, the Swiss watch industry was under siege from quartz watches from Asia. They were cheaper, more accurate, and technologically disruptive. Mechanical watchmaking was suddenly in steep decline. Brands were forced to rethink their positioning, to justify why a Swiss mechanical watch deserved a premium price.

This creation challenged the very notions of a nice watch should be in precious metal. It sent a clear message: with exceptional design, material becomes secondary. The core value of the Royal Oak/Nautilus lay in its design, and in the complexity of finishing its case and integrated bracelet, not in the supposedly “ordinary” steel material used for a sports watch.

 

 

And here is where the Swiss watch industry we know today came in. Instead of competing on accuracy, Patek competed on meaning. The brands such as Patek and Rolex all came together and tried to develop a quartz movement on their own, but that’s a story for another day. Patek Philippe especially started doubling down on design, craftsmanship, and identity. The Nautilus was not born as a practical response. Instead, it was a philosophical turn. Steel, but luxurious. Sporty, but refined. Industrial, yet sculptural. A contradiction made coherent.

In 1972, four years before Patek Philippe, Audemars Piguet introduced the Royal Oak—a bold, rugged steel watch defined by sharp angles and faceted surfaces. And it was introduced 4 years before Patek Philippe launched the Nautilus. At the time, it was priced at ten times the cost of a Rolex Submariner, even more expensive than many of AP’s own gold dress watches.

 

Sketches and actual product of Royal Oak 5402 | Image courtesy of Audemars Piguet

 

This creation challenged the very notions of a nice watch should be in precious metal. It sent a clear message: with exceptional design, material becomes secondary. The core value of the Royal Oak/Nautilus lay in its design, and in the complexity of finishing its case and integrated bracelet, not in the supposedly “ordinary” steel material used for a sports watch.

Legend has it that Gerald Genta happened to spot the owner of Patek Philippe sitting in the corner of a restaurant. In just five minutes, he sketched what would become the Nautilus. The rest, as they say, is history.

 

Genta's sketch of the Patek Philippe 3700 | Image courtesy of Sotheby's

 

Whether that story is entirely true, whether Patek decided to respond after seeing AP’s Royal Oak, or whether it was simply a flash of inspiration from Genta himself, we may never know. What we can agree on is this: launching one of the most expensive watches in the world, and making it in steel, was an extraordinarily bold commercial move.

 

2. Appearance

case

The most important element of the Nautilus is its case design. Even from several meters away, a single glance is enough to recognize it. Like the Royal Oak, it features an octagonal bezel, but the lines are noticeably softer, sort of like a Royal Oak that has been left at the shore for decades, slowly softened by sand and salt water. For the Nautilus, Genta adopted a more rounded and fluid language than he did with the Royal Oak.

If you have both watches side by side, the difference is unmistakable. Run your fingers along the case: the Royal Oak feels sharp and angular, while the Nautilus feels smooth and flowing.

 

 

What I love most about the reference 3700 is its case design. Unlike the three-part case of the 5711, the 3700 uses a two-part construction. This means the movement and dial are installed from the front, a design also seen in the newest Nautilus today the 5811. It quietly suggests that Patek Philippe has never stopped appreciating its original concept. And this fact makes me happy.

The reason for the two-part case is simple: it makes the watch thinner. At just 7.6mm thick, the 3700 is the thinnest of all the Nautilus jumbos, almost 1mm slimmer than the 5711. On the wrist, they feel entirely different. The modern one sits taller; the other sits almost flush against the wrist.

 

 

At a time when 33–35mm was the norm, Patek seemed crazy to introduce a 42mm 3700. It was a giant for its era, and even today it remains substantial. Yet once you put it on, the appeal becomes immediately clear.

The broad, flat case, inspired by a ship’s porthole, and the two lateral “ears” resembling porthole hinges, create a cohesive whole. Nothing feels out of place. Compared to the Royal Oak of the 1970s, the Nautilus is more friendly to smaller wrists, wearing more naturally and comfortably.

 

Dial

The dial color of the original Nautilus is surprisingly difficult to pin down. Although the certificate states “Noir”: French for black. These dials are rarely truly black. Their appearance shifts constantly under different light.

It’s possible that Patek used a warmer, deep black tone, blending subtle warm pigments with blue. Over time, many 3700 dials turned into shades of coffee brown, golden hues, olive green, or other nuanced tones. That is one of the reasons I am so drawn to the 3700. Unlike modern Nautilus models, which remain largely unchanged in color years after production, the 3700 feels alive. If you prefer untouched originality, you can find examples with a perfect black-blue dial. If you lean toward character, there are olive green versions or tropical dials that have aged into rich chocolate hues.

 

Tropical Dial that have stood the test of time | Source: keystone

 

The dial design of the first generation Nautilus is clean and simple: two hands and twelve hour markers. One reason I prefer the 3700 over the 5711 lies precisely in this simplicity. There are no unnecessary details. The two hands and hour markers are more refined and slim, whereas on the 5711 they feel much bolder, heavier, even a bit exaggerated.

 

Patek Philippe 5711

 

Aside from the white gold hands and markers, the dial of the 3700 itself is made of solid gold: a detail that speaks to genuine substance. What fascinates me even more is that the signature horizontal grooves were hand-engraved by craftsmen at the time. Unlike today’s machine-produced dials, these subtle irregularities create depth and texture. They may not be perfectly uniform, but that imperfection is precisely what gives them life.

 

 

03. Variations

Vintage watches are full of nuances, 3700 is no exception. Among the rarest dial variations is one found on the very earliest examples. On most 3700 dials, the minute track is composed of small dot markers. But on the earliest production pieces, you’ll find hash minute markers instead. Generally speaking, Nautilus 3700 cases with serial numbers below 1303999 carry this dial configuration. These were the first batches produced starting in 1976, and this detail is one of the clearest ways to identify a truly early example.

 

 

Another variation features the familiar dot minute markers, but with an additional signature at six o’clock: “Gübelin.” As you’ve probably guessed, this is a retailer signature, no different in principle from a Tiffany stamp.

Gübelin was a renowned Swiss jeweler and watch retailer with more than a hundred years of history. You can think of it as Switzerland’s own Tiffany. At the time, Patek Philippe did not yet possess the global brand dominance it enjoys today and relied heavily on prestigious local retailers. For local clients who already trusted names like Gübelin, having the retailer’s signature on the dial made the watch easier to sell. Even today, double-signed 3700 examples are generally more desirable, and rarer, than standard versions without retailer signatures.

 

 

There are also important authenticity details to observe. On original 3700 dials, the second “È” in “GENÈVE” should carry its accent mark. At six o’clock, you will also find the “σ Swiss σ” marking at the very bottom of the dial. These small things are crucial indicators of an original 3700 dial.

 

Bracelet

Another important detail I care about on the 3700 is the variations in its bracelet designs. One is wider and more masculine; while another is more tapered and narrower. Because of the difference in bracelets, Patek Philippe gave these two versions two different references: 3700/1 (wider bracelet) and 3700/11 (tapered bracelet).

 

 

The /1 version features fewer bracelet links and, as a result, wears more like a cuff. The /11 version, on the other hand, feels more similar on the wrist to other watches fitted with bracelets.

The 3700/1 was produced approximately from 1976 to 1982, while the 3700/11 ran from 1982 to 1990. Generally speaking, collectors tend to prefer the earlier, more original and bolder 3700/1. Its integrated feel is stronger, and it carries a more distinct 1970s character.

 

Left: 3700/11's thinner bracelet | Right: 3700/1's bracelet

 

Materials

I once considered acquiring 3700 examples in different metals. Although steel is the most iconic, the other metals feel more intriguing in their own way. The 3700 was produced in yellow gold as well as in two-tone versions, neither of which were made in large numbers: approximately 1,500 pieces in gold and around 900 in two-tone. These numbers combine the totals of both bracelet variations.

There were also a very small number made in white gold: approximately 60 pieces. Platinum examples are even rarer, with only three known, making them truly the “trophy” of the series.

 

Patek Philippe 3700 in Platinum | Source: Christie's

Patek Philippe 3700 in White Gold (note the markings at the 11 o'clock and 1 o'clock positions) | Source: Phillips

 

Movement

While the Nautilus’ exterior design undeniably steals the spotlight, its movement should not be underestimated. After all, not showing off excellence while cutting no corners has always aligned with our ideal notion of Patek Philippe.

The caliber 920, produced by Jaeger-LeCoultre, is a legendary ultra-thin movement. Variants of it were also used in the Royal Oak and the Vacheron Constantin 222. Although Patek Philippe was striving at the time to develop its own ultra-thin automatic movement, when launching the ref. 3700 it ultimately chose Jaeger-LeCoultre’s 920, renaming it the 28-255, and used it for a full decade.

 

3700's Caliber: 28-255C | Source: Christie's

 

With a thickness of 3.05mm including the date mechanism and only 2.45mm without date, this movement remains, to this day, the thinnest automatic caliber with a central rotor ever produced. Renowned Patek Philippe scholar Marco Stanga once remarked: “Setting aside thickness, no other Swiss automatic movement can match the refinement and costly construction of the 920.” No detail was neglected; whether viewed from the front or the back, the movement exhibits meticulous and elegant finishing. For the 1970s, it was truly an extraordinary mechanical device.

 

04. Some final thoughts

When it comes to the Nautilus, the word we most often hear today is probably “hype.” Yet after examining the design and details of the first Nautilus reference, I hope you might also gain a fresh perspective on this social media darling that seems to be everywhere.

At the time of its introduction, it was far from universally loved. And Patek Philippe did not yet feel compelled to cater to the market with an array of colorful editions.

Understanding the original form of such an iconic design may also offer a new way of looking at the Nautilus, bearing the somewhat curious name of a sea creature, that we see so often today.