Patek Philippe Watches
Find out the history, the vision, and the incredible story behind one of the finest timekeepers in the world Why are the Patek Philippe watches so popular among the horologists of the world? This luxury watch brand has had a stronghold on the watch-making industry since its inception in 1845. Patek Philippe watches are an epitome of unmatched quality and uncompromising performance. It also has a long history and tradition in watchmaking.
We will take a closer look at the Swiss watchmaker brand, delve deeper into Patek Philippe cost, Patek Philippe watches prices, and also find out the Patek Philippe Los Angeles connection.
Patek Philippe, the watch brand, has a unique way of marketing their product. One of its print ads showed a father-son duo looking at a watch and the caption read "You never really own a Patek Phillipe, you look after it for the next generation." It implies that Patek Philippe watches are a priceless asset to have and its value multiplies with time. Although the watches are out of this world, Patek Philippe watches are selling something more: Legacy.
One may wonder why people would buy a watch that is in the seven-digit range. Yes, the Patek Philippe prices start at $8,000 to over a million dollars. In fact, in November 2016, a Patek Phillipe watch was auctioned off for a whopping $11,136,654. In comparison, the Tag Heuer sells its most expensive watch at $190,000.
Are Patek Philippe prices justified? And how does the Patek Philippe price keep on increasing after buying it?
The answers lie in the story of the makers of the finest timepieces. Patek Philippe's journey began in 1839 with two partners Antoni Norbert Patek and his first partner Franciszek Czapek. The duo parted ways in 1844, and soon after, Patek met Jean Adrian Philippe. They started their company Patek Philippe & Cie. in 1851. The company produced the first wristwatch ever for Countess Koscowicz of Hungary in 1868.
An interesting fact: Until the1930s, wristwatches were considered feminine while most men preferred a pocket watch.
After Patek and Philippe death, the company became a business corp in 1901. In 1932, the Stern family, brothers Charles and Jean Stern, acquired the company. Charles' grandson Philippe became General manager in 1977. He became the President of Patek Philippe in 1993 and stepped down in 2009 when his son, Thierry became the president in 2009. Currently, Patek Phillipe is the last family-owned Swiss watchmaker company in Geneva. Patek Philip's primary unit is situated in Plan-Les-Ouates, and the bracelets unit is situated in Plainpalais.
How do you justify the cost of these expensive watches?
With an exemplary history and more than 70 patents, the Patek Phillipe watch company has all the resources to make a vast range of quality timepieces in the world. Patek Philippe has the Geneva Seal created by the Geneva School of Horology. To be able to showcase the seal on their watches, a watch company has to be mechanically operated and strictly comply with 12 technical specifications. Moreover, Patek Phillipe is a huge manufacturing company and control every aspect of its production. They release limited quantities of certain models and keep a record of every watch that has been manufactured since 1839. These also include watches owned by celebrities like Queen Victoria, Gianni Agnelli, and Albert Einstein.
What are the most iconic models in Patek Philippe's range?
It was launched in 1932, just after the Stern family bought the company. It has a gold and platinum case. Certain versions have a Clous de Paris bezel, and a white enamel dial with roman black numerals. The average retail price of this watch is $13,000. This watch is also owned by Jack Welch of General Electric.
#2 The Golden Ellipse
In 1968, Patek Philippe launched The Golden Ellipse that had the rounded rectangular designed within the“Golden Ratio.” This self-winding watch is sleek and its beauty is breathtaking. This expensive watch by Patek Philippe costs around $22,000.
#3 The Original Nautilus
The original model of The Nautilus came in 1976 with a stainless steel body. It was designed by Gerald Genta who famously designed the Royal Oak for Audemars Piguet and the Ingenieur for IWC. The sportive case resembles a ship’s hatch. Its owner includes one of the most prolific actors in Hollywood and avid watch collector Brad Pitt.
#4 The Aquanaut
This watch too has a nautical connection and was released in 1997. It gave buyers the option to choose either a gold case or a stainless steel case.
#5 The calendar watches
Patek Philippe also has a range of complicated calendar watches including a pocket watch with a perpetual calendar owned by the Dalai Lama. Other complicated watches have features that can handle calendar complications like leap years, different spans of days for every month, the minute repeater with cathedral chimes, tourbillon escapement, and many more. These watches can have a retail price in six digits.
Benefits of owning a Patek Phillipe watch:
1. Despite its high prices, owning a Patek Phillipe watch means owning a marvel of patience, precision, and a serious dedication to flawlessness. Every component of the Patek Philippe watches is hand-finished to amazing levels of precision. One watch takes nine months to be assembled into the final product.
2. Patek Philippe watches are a wonder of human creation. It holds the value of anything you can think of that is worth preserving and passing on. Buying a Patek Phillipe gives you the priceless power of legacy. Even the price of gold starts to drop, the value of a Patek Phillipe watch keeps on rising with time.
There aren't many investment options that assure you constant hike in its value. Be it a property in Los Angeles or any other expensive location in Southern California, nothing compares in value than a piece of ingenuity and an epitome of man-made brilliance. If you wish to pass on something of value to your next generation, make sure that you own a Patek-Phillipe watch before it gets out of stock and before its prices skyrocket again.