Launched in 1968, the Patek Philippe Ellipse broke from convention and marked the era of oddly-shaped watches. While the wristwatch was, generally speaking, always round until the late ‘60s, the dress watch was absolutely not an exception, with its construction almost exclusively confined to precious metals and round, thin cases. The famously conservative Patek Philippe changed this convention in 1968 with the Ellipse. Born from the golden ratio, the Ellipse’s case was notably unique for a dress watch, and thus began its journey as one of the Genevan giant’s best-known watches, remarkable in its differences and quietly confident aura. Here, we have a Ladies Ellipse ref. 4151/1J that takes that confident aura and runs with it in an entirely different direction by making the Ellipse even more unique. While most Ellipse references feature domed bezels and leather straps, the ref. 4151 features a design unlike any other, with an incredibly intricate bracelet made of 18kt yellow gold acting as both the watch’s bracelet and the housing where its rounded rectangular movement and dial housing reside. Exemplifying the Ellipse’s status as a watch that broke from convention and went somewhere that few others had gone at the time of the Ellipse’s original release, this watch sports a blue dial that pairs well with its yellow gold construction to create a wonderfully bright and luxurious timepiece.

The watch is in overall excellent condition. The yellow gold case shows light scratches and scuffs, particularly on the polished bezel. The case back features a very crisp hallmark, and the Patek Philippe winding crown is well defined. The sigma-signed blue dial has aging and oxidation on it as shown, including one larger vertical line on the upper left side of the dial. The Maille Florentine bracelet is in excellent condition, with only gentle wear to the finish, and fits an approximately 6¾” wrist. The watch is accompanied by a Patek Philippe Archive Extract.

A beautiful ladies’ piece — the 4151/1J blends watchmaking and jewelry perfectly. The horizontal ellipse design and yellow gold bracelet are elegant and distinctively Patek Philippe. There is nothing today that can bought at retail that can remotely compete with the quality of this bracelet. And with gold values soaring? This might be the bargain of bargains.