Entrepreneur Carlo De Benedetti spotted wearing a Patek Philippe

Carlo De Benedetti, one of Italy's most prominent industrialists and the former controlling shareholder of Repubblica and L'Espresso, was recently photographed wearing a Patek Philippe Nautilus reference 3711/1G — a white gold sports watch of remarkable rarity and historical significance within the Geneva manufacture's catalogue.

The Patek Philippe Nautilus 3711/1G was introduced in 2004 as a direct revival of the original Nautilus "Jumbo" concept first penned by Gérald Genta for the 5711's celebrated ancestor, the reference 3700. The 3711 brought back the large 42mm case format that had been discontinued in the early 1990s, housing it in 18k white gold and fitting it with the distinctive black horizontal ridged dial that gives the piece its authoritative presence. Powering the watch is the automatic Calibre 315 SC, a self-winding movement beating at 21,600 vph with a 45-hour power reserve, finished to the exacting standards expected of any Patek Philippe.

What makes the reference 3711/1G genuinely exceptional from a collector's standpoint is its production window: Patek Philippe manufactured it for approximately two years before replacing it with the reference 5711/1G in 2006. That compressed timeline translates directly into scarcity on the secondary market. The 3711 occupies a unique transitional position — it bridges the gap between the classic 3700-era Nautilus and the modern 5711 generation, and its white gold configuration remains significantly rarer than comparable stainless steel variants produced during the same period.

De Benedetti, now in his late eighties, built his reputation through bold industrial and media ventures that reshaped Italian capitalism. His choice of the Nautilus 3711/1G reflects a collector's sensibility rather than mere brand recognition — this is not a watch one stumbles upon at a boutique, but one that requires knowledge, access, and timing to acquire.

On the grey market, the Patek Philippe Nautilus 3711/1G commands prices well above its original retail, driven by the same supply-demand dynamics that have made the entire Nautilus family a flashpoint for serious collectors. With the 5711 now also discontinued, the 3711 gains additional retrospective significance as the last step before Patek's modern Nautilus era began in earnest.