Patek Philippe's Milan Grand Exhibition 2026: The 5978P Instantaneous Perpetual Calendar Chronograph and Six More Italian Limited Editions

Patek Philippe has opened its seventh Watch Art Grand Exhibition in Milan — and, as at every Grand Exhibition, it has marked the occasion with watches made only for the host country. Seven Italy-exclusive limited editions lead the launch, headlined by the platinum ref. 5978P-010 , which debuts a new instantaneous perpetual calendar chronograph calibre. A collection of about 25 Rare Handcrafts pieces celebrating Italian art and a new Gondolo ladies' line complete the release.

The Exhibition

The Watch Art Grand Exhibition runs from October 2 to 18, 2026 at the CityOval (the former Palazzo delle Scintille) in Milan's CityLife district, under a 30-metre dome. Admission is free with registration. It is the seventh in a series that has visited Dubai (2012), Munich (2013), London (2015), New York (2017), Singapore (2019) and Tokyo (2023), together drawing nearly 225,000 visitors. The Milan show includes more than 500 watches and objects — among them 84 pieces from the Patek Philippe Museum — and live demonstrations of enamelling, engraving and guilloché.

Ref. 5978P-010: A New Instantaneous Perpetual Calendar Chronograph

The centrepiece is the 5978P-010 , a 42 × 14.2mm platinum chronograph with a navy-blue sunburst dial, limited to 120 pieces at €318,100 . Its new hand-wound calibre CH 29-535 PS QI combines two of Patek's celebrated mechanisms: the column-wheel CH 29-535 PS chronograph introduced in 2009 and the instantaneous perpetual calendar module from the R CHR 27 PS QI used in Patek's grand complications. The movement has 500 parts and 33 jewels, beats at 4Hz, and holds 55 to 65 hours of power reserve.

The Tricolore Calatravas

Three 38mm white-gold Calatrava-style watches celebrate the Italian flag, each with a lacquered dial with a carbon-pattern centre inspired by the bodywork of fine Italian cars, and an alligator strap with flag-coloured stitching. The 7147G-010 perpetual calendar (calibre 240 Q, green dial with Italian-language calendar indications) is limited to 100 pieces; the 7007G-010 date and seconds (calibre 26-330 S C, white dial, 9.97mm thick) to 200; and the 7047G-010 minute repeater (calibre R 27 PS, red dial, 10.24mm thick) to just five.

The Milan Aquanaut: Ref. 5167A-014

The most accessible of the seven is a steel Aquanaut ref. 5167A-014 : 40.8mm, with a blue sunburst dial bearing the embossed Aquanaut pattern, red hour markers and a red seconds hand, on a midnight-blue composite strap. It uses the automatic calibre 26-330 S C and is limited to 250 pieces — arriving in a year when Patek has also been celebrating 50 years of the Nautilus, the Aquanaut's older sibling (see our Nautilus history).

Milan by Day and by Night: The 5531G World Time Minute Repeaters

Two 40.2mm white-gold 5531G World Time Minute Repeaters depict Milan in Grand Feu cloisonné enamel — by day on the 5531G-012 and by night on the 5531G-013 , five pieces each. The automatic calibre R 27 HU chimes the local time of whichever time zone is selected, a rare combination of world time and repeater that places these among Patek's grand complications. The cases are hand-engraved with a Clous de Paris pattern and come with interchangeable sapphire and solid-gold casebacks.

All Seven Milano 2026 Limited Editions

Rare Handcrafts and the New Gondolo

Alongside the limited editions, Patek's Rare Handcrafts collection presents about 25 pieces inspired by Italy: four Calatrava ref. 5177 “Italian Landscapes” watches (Amalfi Coast, Puglia, Chianti and Lake Como, six pieces each) in cloisonné enamel; three Gulf of Naples Calatravas; Golden Ellipse pieces including a “Sunset in Tuscany” wood marquetry dial; unique pocket watches such as “Burano” and “Dante”; and Dôme table clocks depicting Rome by night, Ravenna's mosaics and Sicilian citrus.

Patek also used Milan to launch a new Gondolo ladies' collection, ref. 7043: a 31 × 34.8mm cushion case in white, rose or two-tone gold with an opaline wave-pattern dial and quartz calibre E15, offered with a diamond-set flange or in fully paved Joaillerie versions set with topazes, tsavorites or amethysts. It accompanies a new women's campaign, “I AM. I WEAR.”

Availability

The Milano 2026 limited editions are reserved for the Italian market and will be sold through selected Italian Patek Philippe dealers. Patek has published the 5978P-010's price (€318,100); prices for the other pieces are available on request. For context on the models behind them, see our histories of the Aquanaut, Calatrava and Patek Philippe perpetual calendar.