Watch Paparazzi

Entrepreneur Steven Zhang spotted wearing Patek Philippe

Steven Zhang, the Chinese businessman who served as chairman of Serie A club Inter Milan, was recently spotted wearing a Patek Philippe World Time in 18K white gold — reference 5131G — a watch that sits at the intersection of fine horology and applied decorative art, and one that rarely goes unnoticed by those who know what they are looking at.

The ref. 5131G is built around Patek Philippe's ultra-thin Calibre 240 HU, a 27.5mm automatic movement measuring just 3.88mm in height and incorporating the brand's 22K peripheral gold rotor. The movement drives the World Time complication — originally patented by Louis Cottier in the 1930s and acquired by Patek — which displays all 24 time zones simultaneously through a rotating city disc and a 24-hour day/night ring. The 39.5mm white gold case houses one of the most technically demanding dials in production: a fired cloisonné enamel world map dial, hand-crafted by specialist artisans. Each dial can take weeks to produce, and no two are entirely identical.

The 5131G was introduced as part of Patek's ongoing World Time family evolution, replacing the earlier ref. 5110 and refining both the movement architecture and the case proportions. Among collectors, the white gold reference occupies a specific niche: cooler in tone than the yellow or rose gold variants, it allows the cerulean enamel map to dominate visually. Waitlists at authorised dealers have historically been long, and the secondary market has consistently rewarded patient buyers who secured the piece at retail.

Zhang, born in 1991 and educated in part at Nanjing University, took over as Inter Milan chairman in 2018 under the ownership of his family's Suning group. His public profile combines global football business with a taste for understated luxury — the 5131G fits that profile precisely. This is not a watch that announces itself loudly; it rewards the informed observer.

On the grey market, the Patek Philippe World Time ref. 5131G in white gold commands a meaningful premium over its already substantial retail price, with examples regularly trading well above list. For a watch that combines a mechanical complication of genuine historical significance with one of fine watchmaking's most labour-intensive dials, the market is simply reflecting the reality of supply and demand.