The yellow gold version of reference 5131 (such as the present example) was launched in 2008, followed by the white gold in 2009 and the pink gold version in 2014, and finally succeeded by the platinum version in 2017. The white gold version shows Europe, Africa, Asia, and Oceania, the dial of the gold example represents the Americas, Europe and Africa, the dial of the pink gold version shows Asia, Oceania and the America, and finally the dial of the Platinum version depicts the North Pole.

Reference 5131 is the successor of reference 5130 and shows three notable differences: use of a distinguishable closionné enamel dial, the names of the 24 cities are displayed in Italic type and the signature Patek Philippe and company location Genève are engraved on the bezel. Only two or three enameller artists are able to produce these rare dials and together they can only deliver 30-40 dials of each color every year. In 2012 a special and unique reference 5131 was produced with a view of Lake Geneva, to celebrate the firm's 175th Anniversary. In 2014, limited editions with different dial motifs were launched.

Reference 5131 is equipped with the ultra-thin automatic calibre 240 HU (HU for Heure Universelle, French for World Time). It features an eccentric 22K gold micro-rotor recessed in the back plate.

A modern world time wristwatch, the mechanism dates back to the 1930s when talented Geneva watchmaker Louis Cottier devised it and offered his invention to Patek Philippe. Cottier's ingenuity resulted in the company's now classic references 1415 HU and 2523. In 1959, Patek Philippe obtained a patent for Cottier's device (Swiss Patent No. 340 191). The company further developed the movement, introducing calibre 240 HU in 1999.