Patek Philippe Calatrava 2431 "Flame lugs" - NOS - Double signed - With or without gold bracelet

Origin By the early 1950s, the Calatrava as a concept had already cemented itself as the peak expression of elegance. References from this period had truly mastered the importance of proportion, whilst also adopting many different forms. Among these mid-century creations is the reference 2431. Often referred to by collectors as the “Flame Lug” Calatrava, the 2431 captures a more flamboyant moment for the Calatrava, as its case design moves beyond simple utility into sculptural territory. The lugs are not just extensions of the case but the defining visual signature of the watch itself. Their interplay of brushed and mirror-polished surfaces reflects light, creating depth that transforms what would otherwise be a classic dress watch into something far more expressive. Adding another layer of historical relevance is the presence of a double signature from Gobbi Milano, one of Italy’s most prestigious retailers of the era. Retailer-signed dials were reserved for important clients and select markets, making them far scarcer than their standard counterparts. Within the already limited production of the 2431, examples bearing the Gobbi Milano signature represent a particularly elusive chapter in the reference’s story. The Watch This particular example of the reference 2431 is rare in the world of vintage, let alone the world of vintage Patek Philippe. Preserved in new-old-stock condition, the watch remains virtually untouched and a true time capsule. The case surfaces display remarkable sharpness, with the defining brushed and mirror-polished contrasts of the flame lugs still clearly articulated, something we seldom see, as many examples have been polished over decades of wear. While the essence of the Calatrava itself is undeniable, it's the architecture of the case that is especially compelling. Each surface has been treated with a mix of finishes, from mirror-polished flanks contrasted with brushed outer lug faces to high-polished inner lug surfaces. The caseback itself continues this theme, alternating between brushed and polished finishes that create a subtle yet sophisticated visual rhythm. Deep hallmarks remain visible, further reinforcing the case's integrity and its preservation over more than seven decades. Equally striking is its dial. Clean, balanced, and beautifully restrained, it retains its originality and a DNA that shaped the entire dress watch category. The applied yellow gold dart like hour markers show only the lightest trace of patina, consistent with the carefully stored life this watch has experienced to date. The enamel Patek Philippe signature remains raised, a small but significant confirmation of originality. Beneath it at six sits the coveted "Gobbi Milano" signature, adding historical depth and considerable rarity to an already exceptional piece. Though measuring 34mm in diameter, the watch sits larger than expected. The extended flame lugs stretch the visual footprint outward, allowing the watch to sit more like a modern 36mm piece on the wrist. This proportional illusion is part of the reference’s enduring appeal, balancing vintage charm with contemporary wearability. The watch is currently mounted on a yellow gold bracelet, not produced by Patek Philippe but period-appropriate in character. A leather strap is also included, allowing for a more traditional presentation depending on preference. Rarity & Collectability All vintage Patek comes with a built-in level of scarcity, but rarity and condition take this particular 2431 into another category entirely. This reference itself surfaces only occasionally on the market. Then the fact its a double-signed example makes it considerably more scarce. Include the final point that this example is preserved in true New Old Stock condition and accompanied by original accessories? This is almost unheard of. The Movement Powering this reference 2431 is the manually wound calibre 12-120, one of the most respected mid-century movements produced by Patek Philippe. Perfectly proportioned for the slim Calatrava case, the 12-120 is admired for its reliability and finishing, featuring Geneva stripes, polished screw heads, and cleanly executed anglage. Designed to deliver consistent performance across generations, it stands as one of the defining hand-wound calibres of the era and an entirely fitting movement for a reference of this rarity and preservation. How It Wears On the wrist, the reference 2431 delivers an experience that truly defies its measurements. The elongated flame lugs extend outward, giving the watch a presence without detracting from its elegance. The slim profile allows it to wear beneath a cuff, while the sculptural lugs remain visible. Condition The condition of this 2431 is, without exaggeration, the defining characteristic of this piece. Preserved in new-old-stock condition, the watch shows only the faintest signs of handling. The case remains unpolished, with crisp edges, deep hallmarks, and fully preserved finishing throughout. The dial is exceptionally clean, with only the slightest ageing visible on the applied gold markers, an entirely natural development after more than 75 years. The watch is accompanied by its original box, and an Extract from the Archives. It is sold on its yellow gold bracelet and/or with a leather strap. The original Patek philippe yellow gold pin buckle is included as well. If you desire to take a closer look at this precious timepiece, don't hesitate to contact us and make an appointment. We are based in Ghent, Belgium. No stock kept on site * Every watch is delivered in a Mr WATCHLEY Membrane Protection Box for safe transportation in addition to its original set. No stock kept on site Reference 2431 Movement Manual Wound Caliber Calibre 12-120 Dial Double signed Silver dial Size (Case) 34 mm Material (Case) Yellow gold Bracelet Yellow gold and/or leather strap Buckle PP Yellow gold pin buckle Condition NEW OLD STOCK Year 1950 - Sold in 1951 Papers Extract from archive Box Yes - Original Warranty 2 years