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Why Is Patek Philippe so Valuable?

Why Is Patek Philippe So Valuable
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There are numerous checkboxes a Watchmaking House must adhere to elevate itself to the status of “valuable”, and Patek Philippe ticks all of them, outperforming in most fields of excellence. Patek Philippe is so valuable because it is culturally relevant, implements technical and mechanical innovation blending it with traditional artisan techniques, and most of its classic timepieces are considered antiques that go up in monetary value at auction houses as time goes on. Celebrities, connoisseurs, and historians alike greatly appreciate the value a Patek Philippe brings to many aspects of a person’s life and personality. 

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To fully grasp the real value of a Patek Philippe timepiece we need to analyze its history, technological contributions, and materials used in its development and unwrap the elements mentioned beforehand. 

What Is Valuable About Patek Philippe’s History?

Patek Philippe is one of the oldest watch manufacturers still active and thriving. Since its foundation by Antoni Patek in 1839, the brand has been in one of the top spots of the watchmaking game, gaining prestige by appealing to prestigious clients like royals and politicians. Most of its legendary timepieces were made on commissions by royalty, its first big-shot client was Queen Elizabeth from the United Kingdom. It was on top of this exclusivity that Patek Philippe started building its legacy. From the start, you needed to be an important figure or extremely wealthy to own a Patek Philippe timepiece. 

There is a saying about how there is nothing new under the sun, referring to how in the current times is hard to come up with something new in most technological fields, as everything seems to be derivative from another innovation. When Patek Philippe started rising as a prestigious brand, the watchmaking scene was young, and room for innovation had no ceiling other than how technical and creative the artisans could get. The brand saw this as an opportunity to apply innovation and technological advancement to how a watch is crafted and manufactured, something that Patek Philippe took as its flagship. To this day, Patek Philippe owns more than 100 patents and comes up with new original complications and innovations each year. Such a feat won’t be possible without having the best creative minds and working hands on their side.

Thanks to Patek Philippe, modern watches can have keyless winding, perpetual calendars, and double chronographs. Pairing this absolute drive for innovation and the obsession with making the perfect mechanism that would work as new over a century later, is what results in some of these pieces being more than luxurious ornaments but historical objects that deserve to be preserved in museums and private collections as part of the evolution of timekeeping technology. The brand is aware of this, and it has its museum where classic pieces are preserved and showcased for any historian or watch enthusiast to see: the Patek Philippe Museum in Geneva, Switzerland, an institution created with the goal of housing the most emblematic timepieces from Patek Philippe and other important brands, taking its visitors through a journey across the history of luxury timekeeping. These pieces are valued in the millions, even though they are not for sale. 

Patek Philippe’s Innovations

In 1844, Patek Philippe got a bronze medal for its keyless winding and hand-setting system at the Industrial Exposition in Paris, a fair made to promote the advancement of technology and agriculture. At the time, the fact that a watch mechanism could attract the attention of technocrats was unheard of. Watches have always evolved in pair with technology, as much as the need to keep track of time is part of human nature; however, In the post-Industrial Revolution scene, technological advances were aimed at facilitating mass production and the development of communications that would make people’s lives easier. Thinking of technology as an ornament, or outstanding complex mechanisms that were developed to achieve the highest monetary value the elites were willing to pay, was standoffish. But it couldn’t be overlooked. 

After this third place Patek Philippe brought home, the technological innovations applied to watchmaking never stopped. Complex, never-seen-before mechanisms became Patek Philippe’s trademark. As mentioned before, the brand owns more than 100 patents for in-house inventions. These exclusive complications, movements, and additions highly elevate the value of a Patek Philippe timepiece when bought and sold. Historical Patek Philippe pieces will up their value due to the impeccable artisan work put on the mechanisms that will never stop working, and modern pieces will have competitive value thanks to the brand’s tendency to keep up with the times, adapt to whatever watchmaking ecosystem its competitors bring to the table, and always coming on top by launching new inventions each year. 

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Among the most iconic and valuable Patek Philippe Innovations are the following:

  • Keyless Winding and Hand-Setting System: Eliminated the need to use a key every other day to set up the correct hour on a watch. With this new system, the pocket watch already came with the key integrated into its mechanism, what today is called The Crown. This added a layer of practicality to watches, which allowed them to be used more casually as all it took to make it function was rotating the crown from time to time. 
  • Double Chronograph: Introduced by Patek Philippe in a Pocket Watch in 1902,  a double chronograph allowed the owner of the watch to be able to keep track of the time for two separate events. This mechanism includes two seconds hands, one acts as a lead to the other, which can be stopped or reset at will for timekeeping purposes. The sophistication of this invention caught the attention of important gentlemen who wanted to have the most luxurious and technologically advanced objects possible and didn’t mind paying good money for a great value. In 1923, the brand successfully added a double chronograph to a wristwatch for the first time in history. 
  • Perpetual Calendar: This mechanism is one of the most complex a watch can have. If a watch includes a perpetual calendar, it means its mechanism will be calibrated to imitate the rotation of the Earth, sun, and moon. It’s called “perpetual” because it will never stop giving the date correctly. The perpetual calendar watch will give all this information to the wearer, including seconds, minutes, hours, days, and months, and it even takes into account leap years. In 1925 Patek Philippe included a perpetual calendar in a wristwatch and from then on, this outstanding complication has served as inspiration for a lot of luxury watch manufacturers to add more value to their pieces. 
  • Gyromax Balance: Up until 1949, watches didn’t have a standard for the kind of balance they had on the wheel, so it was harder to achieve great accuracy in the time displayed by the piece. Thanks to Patek Philippe inventing the Gyromax, manufacturers became able to calibrate the wheel for accuracy simply using rotating weights. This patent has been upgraded for the entirety of the brand’s history. In 2006 Patek Philippe patented the Spyromax, which provided the wheel with a balance spring. Just two years later, the brand patented the Pulsomax scapement. In 2011 the GyromaxSi, the most updated iteration of these wheel-oriented technologies was launched, an occasion Patek Philippe celebrated with the announcement of the Oscillomax, a timepiece that includes Spyromax, Pulsomax, and GyromaxSi mechanisms on the same watch.

Patek Philippe Patents Timeline - 1

Patek Philippe Patents Timeline - 2

Valuable Craftmanship

In 2008, Patek Philippe launched its quality seal that guarantees the buyer is getting an authentic product that has been subjected to all of the brand’s rigorous standards during every step of the process needed for its development. Each one of the 50,000 watches Patek Philippe manufactures each year includes this seal, and for good reason: a good part of the value of a Patek Philippe timepiece is related to the impeccable craftsmanship the brand is known for. 

The brand has its research team and a group of highly trained master watchmakers dedicated to the manufacture of each one of its innovations and mechanisms. Patek Philippe’s trademark is the use of traditional artisan techniques and the finest precision tools to create each piece and component of a watch, a process that is in most cases done by hand. Keeping in mind the intricate complications and complex mechanisms that are part of Patek Philippe’s watches, the labor put on the craft by the artisan is near titanic. To achieve this level of perfection the watchmakers must polish their craft over years of experience. If time is money in the watchmaking industry, that saying rings particularly true in a high-end brand like Patek Philippe, the longest it takes for a watch to be perfect, and the longest it takes for the watchmaker to learn how to reach that perfection, the result will be more valuable and luxurious. A Patek Philippe timepiece can take up to eight years to be completed. 

The materials used in the process of manufacturing a Patek Philippe timepiece also add to the overall value of the watch. A brand this prestigious will only use 18k gold at minimum, it will source only the finest diamonds available. And on top of it all, Patek Philippe has made a compromise to its clientele: the value of their watches will survive the passing of time. A Patek Philippe watch will survive generations, going through generation over generation, with their perfect mechanism still functioning like it was the first day someone put it on their wrist. 

The process in which a Patel Philippe timepiece is developed hasn’t changed much from what it was a century ago, holding to this principle is one of the main things that makes the brand’s craftsmanship considered artistic and valuable.

Feeling of Exclusivity

In 2018 Patek Philippe’s marketing team launched an advertisement campaign with a tagline that went “You never actually own a Patek Philippe. You merely take care of it for the next generation.”

This ad was successful because it addressed something that has characterized Patek Philippe over the last century: the value of a Patek Philippe timepiece doesn’t decrease with time, on the contrary, it goes up. Just as an example of this, the Nautilus model’s current market price is over 100,000 USD, and it had an original retail value of 30,000 USD, that’s 80% more value gained over 60 years. The brand’s watches have been used as family heirlooms and included in inheritances since the years Patek Philippe was doing commissions for royal families.  This phenomenon exists thanks to the combination of all the things that make the brand hold its value that we have already mentioned, but there are other factors to consider to truly understand why Patek Philippe is so valuable. 

Patek Philippe was one of the luxury watch brands that rejected the optimization of mass production that came with the Industrial Revolution. The brand never intended to spread its pieces all over the world to make a lot of sales while compromising its exquisite craft, its business model always was providing the best possible quality to the most famous personalities at the most expensive prices, and it remains like that up until the present time. 

Classic Patek Philippe’s models sell by the millions at prestigious auction houses. The brand has 9 out of 10 spots in the most expensive watches ever sold at an auction house. A Grandmaster Chime Ref. 6300A-010 model holds the world’s record for the most expensive watch for its outstanding 31 million dollars closing price. Another legendary piece, the Henry Graves Supercomplication, once regarded as the most complicated watch in the world, sold for 24 million dollars at an auction house. 

Patek Philippe timepieces are collector’s items. Wealthy enthusiasts will try to outbid each other at an auction house until these extravagant prices are reached, this phenomenon puts the brand way above the “luxury” status. For a select few who can afford it, Patek Philippe is a cultural icon of power and prestige, a testament to what humanity can achieve when it puts all of its creative efforts into a specific craft. 

The Most Valuable Patek Phillippe Collections

The timepieces sold at auction houses are mostly rare watches that belonged to someone important or were limited to one or a few items per model. That doesn’t mean a regular enthusiast with good taste and a big enough wallet can’t own a Patek Philippe watch. The brand has launched retail available collections over the years, each one of them with the Patek Philippe quality seal. One thing worth keeping in mind is that these collections will hold way more value in the future, as happened with classic collections from the start of the 20th century. 

The development team at Patek Philippe is characterized by keeping up with the times, not following trends, but setting them. Their creativity is not bound to any particular style of watchmaking, as long as it is crafted to perfection, it can be a Patek Philippe watch. These are the most valuable retail available collections the brand has launched. 

Aquanaut

Average retail price: over 25,000 USD

Year: 1997

A luxury sports watch collection with a chic appeal. The collection is characterized by its octagonal dial mounted over a leather strap that comes in various colors. Patek Philippe claims this line is water resistant, and thanks to its UV radiation protection, it will stand the passing of time like it was a fresh unboxed piece. The collection was launched with the turn of the century in mind, appealing to a new generation of enthusiasts who were craving something modern and daring.

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It is considered a good entry-level luxury watch because it showcases the craft and refinement Patek Philippe is known for without having any complications that may go overhead for new enthusiasts. It is also an ideal watch to wear during the day while driving or meeting with friends, it will look good without being a statement piece that will distract the gaze from other pieces of an outfit. 

Calatrava

Average retail price: over 60,000 USD

Year: 1932

A classic collection that has been updated over time. Antique dealers will ask far more than the average retail price for the oldest pieces of the Calatrava collection, but the recent models can easily be obtained at retail price. Design-wise, the Calatrava collection hasn’t changed much over the years. Patek Philippe considers its round dial with elegant finishes and a crocodile leather strap as the epitome of its style.

 

This dress watch can be worn to exclusive events and galas, and its various models in distinct colors and dial plate designs will suit any outfit and personality. One of the first collections to include an ultra-thin self-winding mechanical movement, it’s made of gold, diamonds, stainless steel, and a signature sapphire crystal dial. The most expensive Calatrava watch was sold in 2018 at an auction house for  642,500 USD.

Golden Ellipse

Average retail value: over 70,000 USD

Year: 1968

Like a vast quantity of works of art, the Golden Ellipse took inspiration from the golden ratio theory, a mathematical formula for the symmetrical and well-proportioned. Following that principle, the Golden Ellipse is easily Patek Philippe’s most harmonious and pleasant to-look-at collection. 

Its perfectly symmetrical shape was a deviation from traditional dials that were easier to manufacture. With this design as a base, Patek Philippe has manufactured collection after collection of Golden Ellipse watches made from different materials, bracelets, experimenting with the content of the dial, etc. The only rule is to respect the aesthetically pleasing ellipsis that has captivated many enthusiasts over the years.

The classic model of the Golden Ellipse, a golden case with a midnight blue dial with golden numerals and minute hands is maybe the most recognizable Patek Philippe timepiece by people who might not be as knowledgeable as real enthusiasts, thus making it its flagship piece in the retail world. To this day, old Golden Ellipse models can be bought from certified dealers or directly from Patek Philippe’s website. 

Complications World Time

Average retail value: over 90,000 USD

Year: 1937

The gem in the crown of Patek Philippe’s legacy, one of the most complicated watches in the world, the Complications World Time serves as an aspiration for true horology enthusiasts. When this watch was first launched, it caught the watchmaking scene by surprise because in those years knowing the hours of other places in the world was not as easy as doing a Google search, they had to be learned by memory, notes or by owning multiple clocks calibrated to different time zones, it wasn’t cost or space effective. 

The Complications World Time was a visionary design from the start, as what was only practical for a few businessmen who had to know the hours their clientele or partners lived in quickly started to be beneficial for a wider range of the population as communications became an everyday thing and airplanes made traveling all over the world way easier. But up until these days, when timezones are trivialized, the appeal of having the world at one’s fingertips is too exciting not to be valuable.

This collection started with a dial displaying the time zones for 27 cities all over the world. A spectacle to look at, nowadays the most recent models have 30 time zones. The model is equipped with a Patek Philippe patent that allows the user to push the crown to jump from one timezone to another as needed. The center of the dial has had many designs over the years, but the most iconic one is the one with a map of the world in it. 

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This collection is a masterclass on how luxury timepieces can have all: monetary, aesthetic, craftsmanship, and entertainment value. 

Nautilus

Average retail value: over 100,000 USD

Year: 1976

When the first Nautilus model was launched, it was received as an ethos, a proposal to the world of watchmaking about how mechanical watches were still valid even after the standardization of the quartz movement. To make things even bolder, the Nautilus was the first luxury watch to be made almost entirely of stainless steel, as opposed to gold, gems, and other precious metals as was customary in the watchmaking industry. This turn of the rules captivated enthusiasts of Patek Philippe’s previous work.

The Nautilus line got so popular over the years that at some point the waitlist for buying a new piece was up to ten years. This fact alone made some Nautilus models sold by unofficial retailers skyrocket in price, with some of them reaching hundreds of thousands of dollars.

One example of this is the Patek Phillipe Emerald Nautilus model, an elegant stainless steel timepiece with emerald gems attached over the entire side of the dial. This model is available to order by commission on the Patek Philippe website, but can also be bought from retailers. A rare watch like the Nautilus Emerald can sell for over 2 million dollars. 

Over the years, the Nautilus model has received thematic upgrades and modifications, like moon phases or more robust dials, solidifying it as one of the brand’s most versatile models that can be worn for any occasion, formal or casual alike.

Patek Philippe’s Influence

Considering all of what we discussed, it’s hard to overlook the fact that Patek Philippe may be the most sought-after brand in the luxury watchmaking game. Celebrities and personalities alike use Patek Philippe as a symbol of status, money, and exclusivity, In this cultural landscape, few brands could proudly be compared with Patek Philippe’s history and contributions to the development of the art of horology. Sure, there are master watchmakers, expensive brands with exotic materials, and timepieces with diamonds encrusted even inside the dial, but these things can hardly compare to the value of Patek Philippe. 

Knowing that Patek Philippe holds and even multiplies its value over time, it is safe to assume buying a timepiece from this brand is a good investment for the future. It will not only provide the wearer with social status and elegance but will also secure her or his money and make it grow as the pieces get older, more exclusive, and harder to find for collectors. An advertisement campaign for Patek Philippe puts it in better words: “Why the value of a gold Patek Philippe goes up even when the price of gold goes down”. We just described why. 

Available Patek Philippe Timepieces

To start or solidify your collection, you can check out the Patek Philippe timepieces and products we have available for sale: 

Patek Philippe Twenty Collection

Patek Philippe Olive Green Twenty~4 – 4910/1200A-011 

Patek Philippe Twenty~4 4910/10A-012 Blue Dial With Diamonds Steel Watch

Patek Philippe Nautilus Collection

Patek Philippe Nautilus 5990 /1R-001 18k Rose Gold Watch

Patek Philippe Nautilus 5711R 18k Rose Gold Bracelet Brown Dial 40MM

Patek Philippe 5712/1A Nautilus Steel Date Moon Phase Watch

Patek Philippe Nautilus 3800/1 In 18k Gold, Custom Diamond Bezel Watch

Patek Philippe Nautilus, 7118/1200A Stainless Steel Diamond Bezel Watch

Patek Philippe Nautilus 5711R Leather Strap Box & Papers 18k Rose Gold 40MM

Patek Philippe Aquanaut Collection

Patek Philippe BLACK Aquanaut 5087 In Steel With Diamond Bezel Watch

Other Products

Patek Philippe Nautilus Brown Cufflinks In 18k Rose Gold

Sell your Patek Philippe

If what you are looking for is to cash out on the value of a Patek Philippe timepiece, we can offer you an assessment to figure out its price and buy it from you

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