When the dress code calls for "casual chic," what do you wear? The first thing that comes to mind is "not an eggplant-colored suit."
I once saw one at a cocktail event during a major watch exhibition, and pairing it with white sneakers did not improve the situation. Would an elegant thin classic wristwatch have saved the look? Perhaps, but not if it had been the then-unreleased Patek Philippe Golden Ellipse ref. 5738G-001 with a sunburst olive dial and matching strap. They would have only highlighted the "vegetable chic." Nevertheless, green dials are gaining popularity and gradually penetrating the classic watch segment. And now the most stylish classic chronometer is presented in a casual green color. Is this the coolest version in history? Or perhaps the smaller model ref. 3738/100G-014 holds that title?
Launch of the Patek Philippe Golden Ellipse ref. 5738G-001 and ref. 3738/100G-014
The appearance of new Golden Ellipse versions at Watches and Wonders 2026 was not a sensation. However, these watches immediately caught my attention. Why? Due to the sunburst olive dial, but mainly because of the glossy green calfskin strap with contrasting cream stitching. The year 2026 marks the 50th anniversary of the Nautilus, but it is also the year of contrasting stitching at Patek Philippe. Almost every new model with a strap received this design, whether they were sports, classic, or complex models. However, as with everything, contrasting stitching requires moderation. Yes, it is appropriate on the denim Annual Calendar Moon Phases ref. 4946G-001 and the sporty Split-Seconds Chronograph Perpetual Calendar ref. 5204G-010 with a blue dial and red hands, but on the Golden Ellipse?
Divine Proportions of the Patek Philippe Golden Ellipse ref. 5738G-001
In other words, having a green Golden Ellipse with a strap of the same color and cream stitching is like wearing white sneakers with a suit. And many see nothing wrong with that. I saw many confirmations of this during Watches and Wonders 2026 in Geneva, where Patek Philippe unveiled the latest Golden Ellipse versions. Although contrast is not to my taste, I will put aside my objections and take a close look at this classic wristwatch in its new color. But first, a little historical context.
The Golden Ellipse design, which debuted in 1968, is based on the "golden ratio." The divine proportion with a ratio of 1:1.6181... became the foundation of the elliptical case - a shape that combines a circle and a rectangle. The Golden Ellipse was popular in the 1970s and 80s and became a symbol of elegance. By the end of the 1970s, the model was offered in no fewer than 65 variations. The dial colors varied, with applied hour markers or Roman numerals. Buyers could choose bracelets - woven, link, or Milanese - as well as leather straps.
For women, the collection included jewelry and Haute Joaillerie versions. The design expanded beyond watches, inspiring the creation of luxury accessories: cufflinks, rings, and lighters. Incidentally, there were also Golden Ellipse pocket watches. Ref. 874 was released in 1976 and was produced until the early 1990s in very limited quantities, from various precious metals.
Classic Watches of the Future
Recently, I wrote an article "Imagining the Classic Watches of the Future," and the new olive-green Golden Ellipse could have been its hero if it had been released earlier. It would have fit perfectly, although I still believe it would have looked better with stitching in the same color. The Golden Ellipse is a benchmark and inspiration, as seen in recent models like the Serica 1174 Parade and Raymond Weil Toccata Heritage. These watches convey the atmosphere of the Golden Ellipse at a significantly lower price. However, they are not the original. The true icon is the Golden Ellipse. The new ref. 5738G-001 is crafted in a polished white gold case measuring 34.5 × 39.5 × 5.9 mm - this is the thinnest model in the Patek collection. This "Jumbo" case was introduced in 2008 to mark the 40th anniversary of the collection.
The sunburst dial made of 18-carat gold shimmers as if the 1970s have come alive again, but the olive shade adds a modern touch. Minimalist white gold baton hour markers and cheveu-style hands in white gold display the time. The strap fastens with a white gold clasp, maintaining simplicity and elegance.
The solid metal case back is also simple. These watches are more of a decoration, a style statement, rather than a demonstration of technical watchmaking prowess. Therefore, the automatic caliber 240 movement, the same as in the anniversary Nautilus models, is not visible. The movement, 2.53 mm thick, with a frequency of 3 Hz, is equipped with a 22-carat gold micro-rotor and a Gyromax balance with a Spiromax silicon spring. Comprising 161 components, it provides a minimum of 48 hours of power reserve and is adorned with the Patek Philippe seal.
Perfect Proportions on the Wrist
Yes, the Golden Ellipse enhances your look. I would replace the strap with a custom-made green lizard leather one, but otherwise, these watches are a style icon that fully justifies their purpose. There is something special in the form, thinness, and minimalist dial. Wearing the Golden Ellipse, you immediately feel elegant, regardless of casual clothing. However, for this model, it's worth dressing up a bit. It's a sign of respect for the 58-year-old "gentleman" who never ages and feels the pulse of modernity. Magnificent style comes at a price: the white gold ref. 5738G-001 is priced at €40,500 / $43,011 / CHF 34,400.
To answer the question in the headline: no, I do not consider the olive-green ref. 5738G-001 the greatest Golden Ellipse. In my opinion, the top spot belongs to the platinum ref. 5738P-001, which looks great with jeans and a pinstripe blue suit. By the way, if you prefer a smaller model at a slightly more affordable price, the Golden Ellipse 3738/100G-014 with the same green tones, caliber 240, and case measuring 31.1 × 35.6 × 5.9 mm costs €38,200 / $40,511 / CHF 32,400.
What do you think about the olive-green Patek Philippe Golden Ellipse ref. 5738G-001 or ref. 3738/100G-014? Are they the modern version you've been waiting for? And do you consider the Golden Ellipse the pinnacle of classic watches? Please share your thoughts in the comments.