Watch Paparazzi

Entrepreneur Guram Gvasalia spotted wearing Patek Philippe

Guram Gvasalia, co-founder and CEO of the Zurich-based fashion label Vetements, was recently spotted wearing one of the most respected complicated wristwatches of the early 21st century: the Patek Philippe reference 5970P, a platinum-cased perpetual calendar chronograph with moon phase and a black dial. For collectors and serious horologists, the sighting is anything but casual.

Introduced in 2004 as the direct successor to the iconic reference 3970, the Patek Philippe 5970 was produced for just six years before being discontinued in 2010 and replaced by the reference 5270. At its core beats calibre CH 27-70 Q, a manually-wound movement incorporating a column-wheel chronograph mechanism, a perpetual calendar, and a moon phase display accurate to one day every 122 years. The movement is a masterclass in traditional Swiss watchmaking — no pushers at 10 o'clock, no modern shortcuts. Case diameter sits at 40mm, a deliberate upgrade from the 36mm 3970 that gave the watch a more contemporary presence.

The 5970 was offered in yellow gold, rose gold, white gold, and platinum. Of these, the 5970P — the platinum reference with a black dial — is unquestionably the most desirable variant. Platinum Patek Philippe complications of this era were produced in extremely limited numbers, and black-dialed examples further narrow an already thin production run. The combination gives the watch a severity and presence that the lighter metal and dial combinations simply do not possess. Among serious Patek collectors, the 5970P occupies a near-mythological position.

Guram Gvasalia's watch choices have always reflected a preference for depth over display. As the business mind behind Vetements — the label that redefined luxury streetwear and spawned the DHL t-shirt moment that became a fashion footnote — Gvasalia operates in a world where cultural signals matter. Choosing a 5970P over a more immediately recognizable piece says precisely what it is intended to say: that the wearer understands the language without needing to explain it.

On the secondary market, the Patek Philippe 5970P commands significant premiums over its already substantial original retail value. Grey-market prices for the platinum black-dial variant consistently trade well into six figures, with strong examples regularly exceeding $300,000 at auction. This is a watch that has only appreciated since its discontinuation — and shows no signs of slowing.