As part of our writings about building your watch collection, we’re taking a look at Patek Philippe.
As lifestyle managers, we have seen our fair share of watches. From Rolexes to Hublots, Richard Milles, Audemars Piguets and the likes. But no serious collection is complete without a Patek Philippe. This brand is hands down the most desirable classic of all.
The design philosophy of Patek is a reasonable likeness of the one that Porsche pursues. The idea is to color within the lines and don’t change the winning formula. You make small tweaks, bring out a few different variations of the same thing and keep a very firm grip on your brand image. That is the similarity between those two brands.
You will not find a discounted Patek Philippe watch anywhere on the planet. You will never see the market flooded with too many units. Nor will you see an infinite number of limited editions. Patek Philippe maintains its myth by upholding the artificial scarcity and making buyers wait for their orders. Oftentimes these wait times are announces in years rather than months.
Time is money!
As is custom with human nature, this approach clashes with our innate impatience and adversity to waiting for anything. We often say time is money. So here it is, pun intended, the timekeepers of Patek Philippe are worth real money. Yes, we know that this is not what that phrase is intended for. However, it has become standard for collectors to pay large premiums for these watches. The current collections of Aquanaut and Nautilus are all constantly sold out. Another fun fact is that oftentimes a steel version can have a higher premium than a precious metal version.
High demand across the board
Currently highest demand can be seen for the following models. Patek Philippe Nautilus 5711, 5712 or 5980. Like mentioned above, the demand also remains high for all Aquanaut models. It goes without saying that the Grande Complication sell like warm baguettes! The pieces like the Sky Moon, the Celestial or the 6300G Grand Chime are in demand and sell at high premiums. We recently spoke to a collector who bought a 6300G a few years ago for 1.5 million and today is unwilling to sell, even after receiving an offer for 3 million Euros.
Investment on the wrist
If you casually walk by a Patek Philippe dealer and he so happens to have one of the above mentioned models like the 5711 in his inventory, then buy it. You can either wear it for as long as you like and then sell it at a handsome price above retail, or you can flip it and make close to 100% instantly. There are very few items on the market that have the same characteristics.
Patek Philippe a Swiss watchmaker that was founded in 1839. That’s 180 years of knowhow and tradition. The company was founded by Antoni Patek and Adrien Philippe and Franciszek Czapek. The company has been in the hands of the Stern family for nearly a century now, since 1932. Today, the company has 400 retail outlets all over the world and maintains one of the most incredible watchmaking museums. We also recommend visiting the museum, which is open to the public and is situated in the heart of Geneva.
Patek Philippe is also one of the most traditional brands. The company hasn’t altered its logo nor has it changed its slogan since 1996, more than 20 years ago.
Want your very own Patek Philippe? We’ve helped countless clients with their acquisitions and are always happy to assist. Please feel free to contact us with your requests and we’ll gladly get you the watch you want.