Superb and Rare 1992-1993 Patek Philippe Golden Ellipse Ref. 3848 in White Gold – Blue Sigma Dial + Perfect Condition

We are pleased to offer this Patek Philippe Golden Ellipse reference 3848 in 18K white gold, accompanied by its original white gold Ellipse buckle and a recent Patek Philippe Extract from the Archives.
The ref. 3848, produced from 1977 to 1998, embodies the classic format of the Ellipse – the mythical shape whose proportions follow Euclid’s Golden Ratio. The white gold execution, considerably less common than those in yellow gold, gives the watch a more discreet and contemporary presence, and remarkably enhances the blue sunburst “Sigma” dial – the most emblematic and most desirable combination in the collection. Our example, produced in 1992 and initially sold on 15 March 1993, is entirely authentic and confirmed by the Extract from the Archives we ordered for it.
The 27 × 32.5 mm case, made by Favre et Perret, is in excellent condition, with sharp transitions between satin-finished and mirror-polished surfaces.
The manual-winding caliber 215, bearing the Geneva Seal, has been fully serviced and runs perfectly.
Fitted with a new made-to-measure matte black alligator strap from Atelier du Bracelet Parisien, this is a benchmark example.

We are pleased to offer this Patek Philippe Golden Ellipse, reference 3848, in 18K white gold, accompanied by its original white gold Ellipse buckle and preserved in superb condition. The Extract from the Archives we obtained, dated April 2026, confirms that the movement and case numbers match, as well as the dial (described as “Metallic blue dial, sunburst finish, applied white gold hour markers”), and states that the watch was manufactured in 1992 and initially sold on 15 March 1993.

More than two thousand years ago, Euclid formulated the principle of the Golden Ratio – the ratio of 1 to 1.618 that defines the exact point at which to divide a line into two segments of perfect harmony. The builders of Greek temples, like the master builders of the great medieval cathedrals, used it as a secret passed down from master to apprentice. In 1968, Patek Philippe seized upon this principle to create the Golden Ellipse, or Ellipse d’Or – a watch whose proportions follow the “divine proportion” exactly and which, more than half a century later, remains one of the most recognisable and timeless shapes in watchmaking. As Thierry Stern summed it up at the model’s fiftieth anniversary: “It is one of those watches that shows how to make a Patek Philippe. No gimmicks, just purity and beauty expressed through a simple design.”

The reference 3848, introduced in 1977 to replace the ref. 3648, remained in the catalogue until 1998. It embodies the classic format of the Ellipse, with dimensions of 27 × 32.5 mm and a case of remarkable slimness, made possible by the manual-winding caliber 215 that powers it. The 215 is one of Patek Philippe’s flagship manual-winding movements: 18 jewels, Geneva Seal, Gyromax balance, adjusted to 5 positions and temperature. The cases of this reference were made by Favre et Perret (hammerhead mark No. 115 inside the caseback), one of the most renowned case makers of the Genevan tradition.

The example we are offering is in white gold – an execution considerably less common than the yellow gold version that makes up the majority of production. White gold gives the Ellipse a more discreet, more contemporary presence, and particularly enhances the blue sunburst dial – the most emblematic combination in the collection. This dial is known as “Sigma”, as indicated by the two “σ” symbols framing the “SWISS” inscription at 6 o’clock, certifying that the applied hour markers and the hands are made of gold. The deep, luminous blue, which subtly shifts in tone with the angle of the light, engages in a dialogue of rare perfection with the cool gleam of white gold.

The case is in excellent condition, with sharp transitions between the satin-brushed and mirror-polished surfaces. The hallmarks on the back are all perfectly visible.

The watch is fitted with a new matte black alligator strap, made to measure by Atelier du Bracelet Parisien, and fastened by the original white gold Ellipse pin buckle, signed PP & Co. and hallmarked 750.

The movement has undergone a complete service by an experienced watchmaker and runs perfectly.

A benchmark example.

This Patek Philippe Golden Ellipse reference 3848 is preserved in excellent overall condition.
The superb blue sunburst dial shows no discolouration, no stains and no scratches to disturb its sobriety.
The elliptical 18K white gold case (750 ‰) is in excellent condition, with sharp transitions between the satin-brushed and mirror-polished surfaces. The hallmarks on the back are all perfectly visible.
The manual-winding mechanical movement, Patek Philippe caliber 215, has undergone a complete service by one of our experienced watchmakers and runs perfectly.
The matte black alligator strap is new, made to measure by Atelier du Bracelet Parisien, and fastened by the original white gold Ellipse pin buckle, in perfect condition.
A benchmark example!

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