Patek Philippe Nautilus Annual Calendar 5726A-001 in steel, black gradient embossed dial, moonphase and 24-hour subdial, black strap

Patek Philippe Milan 2026 Limited Editions and the Nautilus Annual Calendar 5726A-001

بواسطة Honeyrock Luxury Editorial في 22 أكتوبر 2026

Patek Philippe opened its Watch Art Grand Exhibition at CityOval in Milan's CityLife district on 2 October 2026, and it runs until 18 October with seven limited editions reserved for the Italian market, led by the platinum Perpetual Calendar Chronograph Ref. 5978P-010 and the steel Aquanaut Ref. 5167A-014. The steel Patek with a calendar that a collector can actually acquire today is the Nautilus Annual Calendar Ref. 5726A-001, a reference introduced in 2010 that remains in Patek Philippe's current collection, and this guide explains exactly what it is, how it differs from the bracelet Ref. 5726/1A-014, and where it sits against the Milan pieces.

Key facts

Patek Philippe's Watch Art Grand Exhibition Milano 2026 runs from 2 to 18 October 2026 at CityOval, CityLife, Piazza Sei Febbraio, Milan, with free admission.
Milan is the seventh Patek Philippe Grand Exhibition since the first in Dubai in 2012, according to Revolution.
Patek Philippe released seven Milan 2026 limited editions, all reserved for the Italian market, with case backs inscribed "Patek Philippe Milano 2026".
The Ref. 5978P-010 is a 42mm platinum Perpetual Calendar Chronograph limited to 120 pieces, priced at EUR 318,100 including taxes (Monochrome).
The Ref. 5167A-014 Aquanaut is a 40.8mm steel watch limited to 250 pieces, priced at EUR 40,900 excluding taxes (SJX).
The Nautilus Annual Calendar Ref. 5726 was introduced in 2010 as the first Nautilus with an annual calendar.
As of 5 October 2026, Patek Philippe lists the Ref. 5726A-001 in its current collection at a US retail price of $57,015, with calibre 26-330 S QA LU 24H.
Patek Philippe cut US retail prices by about 8 percent on 1 February 2026, with Nautilus and Aquanaut models reduced by 3.4 percent (Gear Patrol).
In Q2 2026, Morgan Stanley and WatchCharts measured the Nautilus at 74 percent above retail on the secondary market and the Aquanaut at 90 percent above retail (WatchPro, July 2026).

The Milan 2026 Grand Exhibition

Patek Philippe's official exhibition page places the event at CityOval, the building formerly known as Palazzo delle Scintille, from 2 to 18 October 2026. Entry is free, reservations are recommended, and the hours run late on Fridays and Saturdays, until 10:00 pm. The brand describes the event as offering "an immersive experience into its world and history in the heart of Milan."

Revolution counts Milan as the seventh Grand Exhibition since Dubai in 2012, following stops that included Singapore in 2019 and Tokyo in 2023, with more than 500 pieces on display. As in previous cities, the commemorative watches are the commercial center of gravity: each carries a sapphire case back inscribed "Patek Philippe Milano 2026", and all seven are allocated to Italy.

The seven Milan limited editions

The set spans a steel Aquanaut at one end and two cloisonné enamel minute repeaters at the other. A trio of 38mm white gold Calatravas in red, white and green lacquer reads as the Italian tricolore.

Reference	Model	Case	Calibre	Pieces	Price
5531G-012 / 5531G-013	World Time Minute Repeater, Milan by day and by night	40.2mm white gold	R 27 HU	5 each	EUR 794,600 each, excl. tax
7047G-010	Calatrava Minute Repeater, red lacquer dial	38mm white gold	R 27 PS	5	EUR 642,700, excl. tax
5978P-010	Instantaneous Perpetual Calendar Chronograph	42mm platinum 950	CH 29-535 PS QI	120	EUR 318,100, incl. tax
7147G-010	Calatrava Perpetual Calendar, green lacquer dial	38mm white gold	240 Q	100	EUR 128,600, excl. tax
7007G-010	Calatrava, white lacquer dial	38mm white gold	26-330 S C	200	EUR 44,500, excl. tax
5167A-014	Aquanaut, navy fumé dial, red seconds hand	40.8mm steel	26-330 S C	250	EUR 40,900, excl. tax

Specifications and prices excluding tax are from SJX; the 5978P-010 figures are from Monochrome. Edition sizes match across SJX, Hodinkee, Haute Time and Revolution, all of which give five pieces for each of the two World Time Minute Repeaters. Haute Time lists US dollar equivalents of $337,585 for the 5978P-010 and $43,761 for the 5167A-014.

The 5978P-010

The Ref. 5978P-010 is a 42mm by 14.2mm platinum Perpetual Calendar Chronograph powered by the hand-wound calibre CH 29-535 PS QI, limited to 120 pieces for Italy. The movement has 500 parts, and its navy dial gives the day, date and month in Italian. Haute Time describes it as "Combining for the first time its manually wound chronograph movement with an instantaneous perpetual calendar." Monochrome puts the headline function plainly:

"The four perpetual-calendar indications jump instantaneously in just 30 milliseconds (!), with all four calendar windows changing simultaneously." Monochrome Watches, First Look: Patek Philippe 5978P-010

The Calatrava trio and the repeaters

The 7147G-010 pairs a green lacquer dial with Italian day and month names and the automatic calibre 240 Q. SJX is candid about what is new and what is not:

"While the ref. 7147G is merely a new combination of familiar elements, including a calibre that's been in the portfolio for more than 40 years, the quality of execution is a cut above the norm, as expected from Patek Philippe." SJX, Patek Philippe Watch Art Grand Exhibition Milan Limited Editions

The two 5531G World Time Minute Repeaters carry grand feu cloisonné enamel maps of Milan, one in daylight tones and one with yellow streets for night, from Anita Porchet's studio. According to Hodinkee, Thierry Stern's own favorite of the seven is the red Calatrava, the 7047G-010.

The 5167A-014 Aquanaut

The steel 5167A-014 is the most attainable piece in the set by price, and the only steel sports model. It measures 40.8mm by 8.95mm, uses the automatic calibre 26-330 S C, and pairs a navy blue fumé dial with a red lacquered seconds hand. That calibre matters for anyone reading on to the Nautilus: the 26-330 family now underpins the current 5726 as well.

The Nautilus Annual Calendar 5726A-001, explained

The Patek Philippe Ref. 5726A-001 is a 40.5mm steel Nautilus Annual Calendar on a strap, with day, date and month apertures, moon phases and a 24-hour indication. Patek Philippe's current product page gives a thickness of 11.3mm, water resistance to 30m, a screw-down crown and a sapphire case back. Patek Philippe specifies an annual calendar that requires one adjustment per year.

According to The 1916 Company, the Ref. 5726 arrived in 2010 as the first Nautilus with an annual calendar, the bracelet Ref. 5726/1A followed in 2012 with black and silvery white dials, and the blue-gray Ref. 5726/1A-014 came in 2019. On the question of discontinuation, the data is clear: Patek Philippe's own site still lists both the 5726A-001 and the 5726/1A-014 as current models when checked on 5 October 2026. The 5726/1A-014 did not replace the strap watch. The two sit side by side, at $57,015 for the 5726A-001 and $62,766 for the 5726/1A-014.

Two calibres, one reference

The movement is where production years matter. Early 5726 watches carried the self-winding calibre 324 S QA LU 24H/303; WatchBase lists the 5726A-001 among the watches using it, with 34 jewels, 347 parts and a 33.3mm diameter. Patek Philippe's movement page states that the base calibre 26-330 was "Unveiled in 2019" and calls it "an advanced iteration of the caliber 324." Current 5726A-001 production uses the calibre 26-330 S QA LU 24H, with 339 parts, 34 jewels, a 33.3mm diameter and 35 to 45 hours of power reserve. A 2017 watch predates the 26-330, so it carries the calibre 324 S QA LU 24H/303.

5726A-001 vs 5726/1A-014 vs the Milan pieces

Attribute	Nautilus 5726A-001	Nautilus 5726/1A-014	Aquanaut 5167A-014 (Milan)	5978P-010 (Milan)
Case	40.5mm steel, 11.3mm	40.5mm steel, 11.3mm	40.8mm steel, 8.95mm	42mm platinum 950, 14.2mm
Calibre	324 S QA LU 24H/303 (early), 26-330 S QA LU 24H (current)	26-330 S QA LU 24H (current)	26-330 S C	CH 29-535 PS QI, hand-wound
Complications	Annual calendar, moon phases, 24-hour indication	Annual calendar, moon phases, 24-hour indication	Date, center seconds	Instantaneous perpetual calendar, chronograph
Fitting	Strap	Steel bracelet	Strap	Strap
Availability	Current collection	Current collection	250 pieces, Italy only	120 pieces, Italy only
Brand price	$57,015 (US retail)	$62,766 (US retail)	EUR 40,900 excl. tax	EUR 318,100 incl. tax

Read across, the 5726A-001 and 5726/1A-014 are the same watch in mechanical terms: same case, same current calibre, same indications. The choice is strap or bracelet, and charcoal gray or blue-gray. Against the Milan pieces, the 5726 offers more calendar function than the 5167A-014 at a comparable case size, while the 5978P-010 belongs to a different tier of complication and price. If the Calatrava side of the Milan set interests you, our Patek Philippe Calatrava reference guide and the Calatrava 5196 and 5227 deep dive cover the dress watch line in detail.

What the market data says

Three data points frame any Nautilus purchase in October 2026. First, the WatchCharts Patek Philippe index stood at 141,244, up 17.6 percent over one year (WatchCharts, as of 30 September 2026). Second, the Morgan Stanley and WatchCharts Q2 2026 report put Patek Philippe's secondary market prices at 15.4 percent above retail overall, with the Nautilus at 74 percent above retail and the Aquanaut at 90 percent, while the Calatrava traded 34 percent below. Morgan Stanley's broader read was cautious:

"All in all, while most second-hand market metrics improved again in 2Q and the recovery became more broad-based, gains for the listed players remain relatively modest, and VR ratios continue to suggest limited pricing power outside the Big Three in the coming quarters." Morgan Stanley, via WatchPro, July 2026

Third, retail moved down. Gear Patrol reported that Patek Philippe cut US prices by about 8 percent on 1 February 2026, with Nautilus and Aquanaut models down 3.4 percent. Johnny Brayson added context: "Even after this price cut goes into effect, Patek's retail prices will still be much higher than they were a year ago."

The Nautilus remains in production, yet Morgan Stanley's data places its secondary market well above the $57,015 retail figure. For more on how the wider pre-owned market moved this year, see our pre-owned watch market summer 2026 report.

The 5726A-001 at Honeyrock

Honeyrock Luxury currently offers a Patek Philippe Nautilus Annual Calendar Ref. 5726A-001 from 2017, listed as unpolished and with papers, at $91,950. As a 2017 watch, it predates the calibre 26-330 and is from the calibre 324 S QA LU 24H/303 era. The listing title references Javier Bardem; provenance details are on the product page.

Like every piece we offer, it has been vetted by Honeyrock's physician-led vetting team and is covered by our lifetime Authenticity Guarantee. If you are weighing it against a current-production strap or bracelet 5726, the comparison table above sets out the differences.

Frequently asked questions

When is the Patek Philippe Milan 2026 exhibition?

The Patek Philippe Watch Art Grand Exhibition Milano 2026 runs from 2 to 18 October 2026 at CityOval in Milan's CityLife district, with free admission and reservations recommended.

How many limited editions did Patek Philippe release for Milan 2026?

Patek Philippe released seven Milan 2026 limited editions, all reserved for Italy: the 5978P-010, 5531G-012, 5531G-013, 7047G-010, 7147G-010, 7007G-010 and the Aquanaut 5167A-014.

Is the Patek Philippe Nautilus 5726A-001 discontinued?

No. As of 5 October 2026, Patek Philippe lists the Nautilus Annual Calendar 5726A-001 in its current collection at a US retail price of $57,015, alongside the bracelet 5726/1A-014 at $62,766.

What movement is in the Patek Philippe 5726A-001?

Early 5726A-001 watches use the self-winding calibre 324 S QA LU 24H/303. Current production 5726A-001 watches use the calibre 26-330 S QA LU 24H, based on the 26-330 that Patek Philippe unveiled in 2019.

What is the difference between the 5726A-001 and the 5726/1A-014?

The Nautilus 5726A-001 is fitted with a strap and a charcoal gray dial, while the 5726/1A-014 has a steel bracelet and a blue-gray dial. Both are 40.5mm steel annual calendars with moon phases and a 24-hour indication.

How much is the Aquanaut 5167A-014 Milan edition?

The Aquanaut 5167A-014 Milan 2026 edition is limited to 250 pieces and priced at EUR 40,900 excluding taxes according to SJX, with Haute Time listing $43,761.

Sources

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