The Patek Philippe Golden Ellipse reference 5738/1R-001 is a time-only dress watch in 18k rose gold on a matching gold bracelet. The elliptical case measures 34.5 mm by 39.5 mm and 5.9 mm thick, with a sapphire crystal, a solid caseback and 30 m water resistance. The dial is a sunburst ebony black on an 18k gold base, with applied rose gold baton markers and rose gold cheveu-style hands; depending on the light it can read as grey. The movement is the ultra-thin self-winding calibre 240, which measures 27.5 mm across and 2.53 mm thick and uses an off-centre 22k gold mini-rotor. It has 152 parts and 27 jewels, a Gyromax balance with a Spiromax balance spring, a frequency of 21,600 vph (3 Hz) and a power reserve of at least 48 hours.

The Golden Ellipse was designed in 1968 by Jean-Daniel Rubeli, then Patek Philippe’s head designer, and the 5738 is its larger modern version. The 5738/1R was introduced in September 2024, pairing the 5738 case with a gold bracelet. The chain-style bracelet is made by Wellendorff and consists of 363 parts, including screws and pins, forming a repeating V pattern. The links are polished and assembled by hand and are screwed together, so the bracelet can be sized by removing links. It closes with an engraved fold-over, jewellery-style clasp with three adjustment notches. The launch price was USD 60,100 (SGD 87,000), and Patek Philippe lists it at EUR 63,600.

SJX called the bracelet finely wrought and supple, said the watch sits very flat and elegantly on the wrist, described the dial as expensively executed despite its simplicity, and considered the price reasonable for a precious-metal bracelet from a high-end brand. It also noted the pronounced retro feel of a gold watch on a gold bracelet. Its main criticism concerned the open-ended jewellery clasp, which is harder to fasten than a watch clasp, makes putting the watch on fiddly and carries a small risk of the watch slipping off. SJX added that the V motif is hard to see from a distance and that using an outside bracelet maker is both a strength and a weakness. The 5738/1R-001 is listed in Patek Philippe’s current Golden Ellipse collection and remains in production as of October 2026.