18ct white gold Patek Philippe ref. 3748/1 Ellipse bracelet watch with silvered dial and Roman numeral hour markers.

The Patek Philippe Ellipse was created in 1968 with its design inspired by the Golden Section, also known as 'the divine proportion'. The reference 3548 was produced from 1967 until 1976. It was together with Ref. 3546 Patek Philippe's first Ellipse models. The exquisite blue dial on this model is actually made from gold which has been transformed by a special Patek Philippe process to look blue.

Patek Philippe subsequently introduced the reference 3930 in 1976 and remained in production until the late 1980’s. Although published in Patek Philippe's sales catalogues, it appears that the models cased in stainless steel were borrowed to clients while their watches were being serviced. Some pieces were also given as reward to deserving employees.