Name: Patek Philippe Golden Ellipse
Brand: Patek Philippe
SKU: 5738/51R-001

Image via eBay ↗

Grey market range$25,500

$24,000$27,000

MSRP $29,890 — grey market -15%

eBay asking prices

eBay asking range$18,000

$14,250$36,870

39 active listings · as of 2026-07-29

What's your watch worth?

Adjust condition and completeness to estimate this specific watch's value.

Original BoxWatch includes original packagingCard / PapersOriginal certificate of authenticityHang TagOriginal retail hang tag still attachedRecently servicedServiced within the last 2 years

Estimated value$28,350Estimated range $26,649–$30,051

Excellent — full-set baseline
Discontinued+5%

Estimate based on your inputs — not a formal appraisal.

Market References

Retail (MSRP)

$29,890

Grey market avg

$25,500Avg Price

eBay asking

39 active listings

$18,000Avg Price

Case39.5x34.5 · Rose Gold

DialGrey · Sunburst

BezelGold · Fixed Elliptical

BraceletBrown · Leather Strap

Production2018

Condition basisUsed

Rarity5

LiquidityLow

Variant guide

Distinctive elliptical case shape dating back to 1968; a departure from Patek's typically round cases.

Buyer's guide

A design-forward dress watch for buyers who want something visually distinct from typical round dress watches.

Seller's guide

The unusual elliptical case shape is a strong differentiator; feature it clearly from multiple angles in photos.

AI market analysis

For buyers

The grey market range of $24,000-$27,000 for this 5738/51R-001 appears inflated, especially when compared to the eBay median asking price of $18,000. Leverage this disparity: aggressively target offers at or below $20,000 for a strong deal, recognizing the low liquidity. Avoid paying anywhere near the upper end of the stated grey market range.

For sellers

Given the low liquidity and an eBay median asking price of $18,000, pricing this 5738/51R-001 within the $24,000-$27,000 grey market range will result in a very prolonged listing. For a realistic sale timeline, consider pricing between $19,500-$21,000, and prepare for further negotiation. High asking prices will stagnate.

AI-generated from current market data. Not financial advice.

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