Perpetual Calendar.

Reference detail

Perpetual calendars are the most complex movements we regularly lend against, which changes how appraisal works — we're not just checking case and dial condition, we're confirming the complication is functioning correctly (accurate date, day, month, moon phase, and leap-year indication where applicable), since a movement issue on a piece this intricate is expensive to fix and directly affects value. The 5236P's unusual instantaneous-display architecture is a distinct engineering approach from Patek's more traditional perpetual calendars, and it appraises on its own terms rather than against the standard perpetual-calendar comp set.

Because service costs on these movements run high, documented service history from Patek or an authorized center is worth more here than on almost any simpler watch in our book — it removes a real cost and risk factor from the appraisal. If your piece has recent service records, box, and papers, send copies along with your photos; it can meaningfully change where we land in the range.

Getting your watch appraised

Email [email protected] with photos and reference details, or run the LAL estimator — it'll give you a wholesale-FMV range based on category, value, and target loan amount.

What to send

• 4–6 clear photos of the asset (front, back, sides, condition detail)
• Reference number, date code, or model identifier
• Documentation: papers, certificates, provenance, GIA grading reports
• A brief note about how much you want to borrow and your timeline

Two-hour reply during business hours with a preliminary range. In-person appraisal sets the final number.