Patek Philippe’s Watch Art Grand Exhibition in Milan brings a serious new chapter to one of the manufacture’s most important high-complication families.
The 5978P-010 is a platinum perpetual calendar chronograph with an instantaneous calendar display, Italian-language indications and a new hand-wound movement created for the occasion.
Limited to 120 pieces for the Italian market, it’s the sort of reference that will be studied closely by collectors who follow Patek’s chronograph lineage.
At a glance
- Patek Philippe has introduced the 5978P-010 as a limited-edition Milano 2026 perpetual calendar chronograph.
- The watch uses the new hand-wound calibre CH 29-535 PS QI with instantaneous calendar indications that jump together in 30 milliseconds.
- Production is limited to 120 pieces, priced at EUR 318,100 including taxes.
A Milan edition with deep chronograph roots
The 5978P-010 matters because it lands in a family that carries unusual weight within Patek Philippe history.
The maison’s perpetual calendar chronograph story began in wristwatch form with the reference 1518 in 1941, followed by landmark references including the 2499, 3970, 5020, 5970 and 5270.
That lineage has become a kind of shorthand for Patek Philippe at its most recognisable, combining technical density with a dial layout that still feels formal, legible and restrained.
The new 5978P-010 doesn’t simply revisit that formula, though.
Its defining technical move is the integration of an instantaneous perpetual calendar with a hand-wound chronograph architecture, creating a watch that feels historically connected but mechanically distinct.
The new calibre CH 29-535 PS QI
Inside is the hand-wound calibre CH 29-535 PS QI, visible through a sapphire caseback carrying a “Patek Philippe Milano 2026” inscription.
The movement combines Patek Philippe’s CH 29-535 PS chronograph base with an instantaneous perpetual calendar module related to the mechanism seen in the manufacture’s grand complication references such as the 5207, 5308 and 5208.
As expected from a traditional Patek Philippe manual-wind chronograph, it uses a column wheel and horizontal clutch.
The column wheel is finished with the polished cap associated with the brand’s chronograph construction.
The perpetual calendar indications change simultaneously in 30 milliseconds, rather than advancing gradually.
That requires energy to be gathered over several hours before being released in a precisely controlled instant to drive the calendar displays.
The calibre is made from 500 parts, runs at 4 Hz and has a stated power reserve of 55 to 65 hours with the chronograph disengaged.
Platinum, blue and Italian calendar indications
The case is made from polished 950 platinum and measures 42mm across by 14.2mm thick.
Its concave bezel, scalloped lugs and rectangular pushers keep the profile recognisably classical, while the small diamond between the lugs at 6 o’clock quietly marks it as a platinum Patek Philippe.
The navy-blue dial uses a textured centre, sunburst decoration and a black-gradient rim.
It’s a layered composition, but the displays are arranged with the kind of discipline this complication needs.
The day, date and month sit across the upper half of the dial, with the day at around 10 to 11 o’clock, the date at 12 o’clock and the month at around 1 to 2 o’clock.
The leap-year indicator sits at 4 o’clock, while the day-night indication is positioned at 8 o’clock within the running seconds sub-dial.
A moon-phase display occupies 6 o’clock, and the 30-minute chronograph counter is placed at 3 o’clock.
The textual calendar indications are in Italian, a fitting detail for a watch made for the Milan exhibition and Italian market.
White-gold applied markers, framed calendar windows and faceted dauphine hands keep the dial firmly within Patek Philippe’s formal vocabulary, while red accents on the chronograph hands add a controlled note of contrast.
Details & Specifications
| Brand | Patek Philippe |
|---|---|
| Model | 5978P-010 Instantaneous Perpetual Calendar Chronograph Limited Edition Milano 2026 |
| Reference | 5978P-010 |
| Case size | 42mm diameter, 14.2mm thickness |
| Case material | Polished 950 platinum with diamond at 6 o’clock |
| Crystal | Sapphire front and back |
| Water resistance | 30 metres |
| Dial | Blue with textured centre, sunburst decoration and black-gradient rim |
| Movement | Manual-wind calibre CH 29-535 PS QI |
| Movement size | 32mm diameter, 8.10mm thickness |
| Parts and jewels | 500 parts, 33 jewels |
| Frequency | 28,800vph, 4 Hz |
| Balance | Gyromax balance with Breguet overcoil hairspring |
| Power reserve | Minimum 55 hours, maximum 65 hours with chronograph disengaged |
| Complications | Chronograph, instantaneous perpetual calendar, date, day, month, leap year, 24-hour indication and moon phases |
| Strap | Navy-blue ultra-resistant composite strap with textile motif and red stitching |
| Clasp | Patented Patek Philippe triple-blade fold-over safety clasp in platinum |
| Production | Limited edition of 120 pieces |
| Price | EUR 318,100 including taxes |
The 5978P-010 is not a quiet release, even if the watch itself is elegantly composed.
For collectors, its appeal lies in the way it extends Patek Philippe’s most revered complicated wristwatch lineage while adding a genuinely demanding instantaneous calendar architecture to the mix.
