Patek Philippe is a long-established Swiss luxury watch brand that is one of the three biggest watch brands in the world. It is highly popular among watch enthusiasts, celebrities, and entertainers, with popular models such as the Nautilus, Aquanaut, and Calatrava.
However, it is also true that it does not have the high name recognition of Rolex or Omega in the general public. So what is the reason for its popularity?
In this article, we will introduce the popularity of Patek Philippe, the reasons for its high price, and recommended models. If you are interested in Patek Philippe watches or would like to know more about the brand, please refer to this article.
Three reasons for its popularity
There are three main reasons why Patek Philippe is so popular worldwide.
① Status as one of the world's three major watch brands
②Beautiful design
3) High resale rate = high asset value
Let's take a closer look at each one.
① Status as one of the world's three major watch brands
Patek Philippe is a brand that has been in business for over 180 years since its founding in 1839 , without ever going out of business or going on holiday. It is extremely difficult to continue a business as times change dramatically. In particular, when quartz watches appeared in the 1970s , the so-called "Quartz Shock" forced many long-established watch brands to go out of business or close down, but even so, Patek Philippe has continued to operate without interruption to this day. Its long history is the reason for its high prestige.
In addition to its long history, what is more important is the level of watchmaking technology it has . Patek Philippe is one of the few companies in the world that performs all processes in-house, from the manufacturing of watch parts to the assembly of watches. As a manufacture brand , they manufacture all of their watches in-house, including those with complicated mechanisms that are said to be difficult to manufacture, such as complication and grand complication models. In particular, their perpetual calendar models boast an absolute position that no other brand can imitate.
②Beautiful design
*Source: https://www.patek.com/en/collection/calatrava/5227J-001
Patek Philippe has many models with noble designs, such as the Calatrava, Perpetual Calendar, and Gondolo. They are made without extravagant decoration, making use of materials such as gold and platinum, and paying attention to every detail, such as how the colors are displayed, the overall balance, and how each part is polished.
One of the most representative models is the Calatrava, which is said to have perfected the round watch. It was released in 1932 with a very simple design of a round case with bar indexes, and it still reigns as the king of dress watches.
3) High resale rate = high asset value
It is also known for having an extremely high resale rate, and the popular Nautilus model in particular is now often traded for several times its retail price.
In particular, in the past few years, the unstable global situation caused by the COVID-19 pandemic has further strengthened the asset value of luxury watches. Not only are they popular among watch enthusiasts, but the number of people choosing Patek Philippe watches as assets has increased, causing second-hand prices to soar overall.
Brand History
From here, we will introduce the history of Patek Philippe, along with some important points to consider when talking about the brand.
Patek Philippe began with two founders
The history of Patek Philippe began when exiled officer Antoine Norbert de Patek and watchmaker François Czapek founded Patek Czapek. At the time of its founding, the company focused on producing pocket watches, producing as many as 200 pocket watches per year. However, three years later, Czapek left the brand, and Jean-Adrien Philippe took over. The brand was renamed Patek Philippe and made a fresh start.
Long-standing partnership with Tiffany
Throughout its long history, Patek Philippe has also supplied watches to jewelry brands such as Tiffany, Cartier, and Gubelin. In particular, Tiffany has had a relationship with Patek Philippe since 1851 , and is the only jewelry brand allowed to have a double name with Patek Philippe. In 2001 , a limited edition model " T150 Tiffany" "Ref. 5150 " was released to commemorate the 150th anniversary of their partnership.
*Source: https://www.celebremagazine.world/watches-co/patek-philippe-henry-graves-supercomplication/
When talking about Tiffany and Patek Philippe, one cannot leave out the Graves watch. This pocket watch was created in 1932 when American banker Henry Graves Jr. requested "the most sophisticated and complicated watch" through Tiffany.
*Source: https://www.sothebys.com/en/auctions/ecatalogue/2018/important-watches-n09952/lot.242.html
The Graves watch incorporates 24 complex mechanisms, including a chronograph, moon phase, and perpetual calendar. The high level of craftsmanship is evident from the fact that it was sold for approximately 2.4 billion yen at the Sotheby's auction in 2014 .
The first Swiss wristwatch is developed
*Source: https://www.patek.com/en/company/patek-philippe-museum/the-museum
In 1868 , the brand developed its first wristwatch, the No. 27368 , for the Hungarian Countess Koscowicz. With a gorgeous rectangular case and yellow gold bracelet, this watch is said to be the first Swiss wristwatch.
For a while, the company was doing well, but the Great Depression occurred with the start of World War I in 1914 , and Patek Philippe was hit hard. In the midst of this, dial manufacturers the Stern Brothers came to the rescue. They invested in the brand in 1929 , and sales recovered. In 1932 , the Stern Brothers acquired management rights, and the company has remained in the Stern family's hands to this day.
The birth of the brand's flagship model, the Calatrava
*Source: https://www.patek.com/en/collection/calatrava/5227J-001
Due to the change in management structure at Patek Philippe, a new model was born. This was the Calatrava 96. Now, it goes by the name Calatrava and, as mentioned above, has become the brand's signature model.
Since then, the company has continued to produce classic watches such as the Nautilus and Aquanaut, while at the same time obtaining numerous patents for complex mechanisms, contributing to improving the technological capabilities of the entire watch industry.
Why is Patek Philippe so expensive?
For those who are not familiar with Patek Philippe, There must be many people who wonder , "Why is it so expensive?" From here, I would like to explain the reason why it is so expensive.
High technology and quality
*Source: https://www.patek.com/en/company/savoir-faire/attention-to-details/cases-and-bracelets
As mentioned above, Patek Philippe is known as one of the few manufacture brands in the world. You may think, "Isn't that natural for a watch brand?", but most watch brands outsource the manufacturing of parts and the assembly of movements to specialized companies. In particular, since a movement is made up of more than 100 parts, manufacturing everything in-house requires advanced manufacturing technology and a production system. You can probably understand why products from rare brands that overcome such challenges and do everything in-house are so expensive.
Small production runs due to craftsmanship by artisans
*Source: https://www.patek.com/en/company/savoir-faire/attention-to-details/cases-and-bracelets
Nowadays, watch manufacturing technology has advanced, and it is common to mass-produce parts and cases in factories. However, every process of making Patek Philippe watches, from production to finishing, is done by hand by skilled craftsmen. This allows for the highest quality and precision finish that cannot be achieved by machine production.
Of course, craftsmen cannot mass-produce watches like machines can, and because the number of watches produced is limited, the price is higher.
Representative model
Finally, we would like to introduce some representative models.
Nautilus
*Source: https://www.patek.com/en/collection/nautilus/5712-1A-001
The Nautilus is Patek Philippe's signature sports model. The quartz crisis of the 1970s forced the brand into a corner, but the highly popular model it created in 1976 was a hit. At the time, luxury watches were generally made of gold, but this expensive stainless steel sports model attracted a lot of attention from the watch industry. Featuring an octagonal bezel inspired by the portholes of submarines and protrusions on both sides, it became an instant hit as soon as it was released, saving the brand from its predicament.
The designer was Gerald Genta, known as the "Picasso of the watch world." He is widely known as the creator of many classic watches, including the Audemars Piguet Royal Oak, the IWC Ingenieur, the Cartier Pasha, and the Bvlgari Octo.
Aquanaut
*Source: https://www.patek.com/en/collection/aquanaut/5167R-001
The Aquanaut was born in 1997 as a model that added a casual element to the Nautilus. It inherited the rounded octagonal design, but it does not have the protrusions on either side, which is its biggest feature. When it was first released, it was not as popular as the Nautilus, but recently it has become one of Patek Philippe's representative models.
Although it has a casual feel, it can be easily matched with a suit and can be used for a wide range of occasions, from everyday use to dressy styles. Another big attraction is that it comes in a wide variety of colors, so you can find a watch that suits your taste.
Calatrava
*Source: https://www.patek.com/en/collection/calatrava/5227R-001
When you hear the name Patek Philippe, many people probably think of the Calatrava. It is said to be the "perfect dress watch" and still reigns as the king of dress watches. Since its introduction in 1932 , the exterior design has not changed significantly, which shows how well-made it is. Incidentally, the design of this simple dial and case was inspired by the Bauhaus philosophy that "function determines form."
Compared to the Nautilus and Aquanaut, the second-hand price is more stable, so this model is recommended for those who want to own a Patek Philippe.
Grand Complications
*Source: https://www.patek.com/en/collection/grand-complications/5270J-001
The Grand Complication is a model that brings together Patek Philippe's strengths in watchmaking technology. A Grand Complication is a model equipped with two or more complicated mechanisms such as a perpetual calendar, tourbillon, or minute repeater. Naturally, its manufacture requires highly advanced technology, and it is an expensive collection with second-hand prices starting at 10 million yen.
Gondolo
*Source: https://www.patek.com/en/collection/gondolo/7041R-001
"Gondolo" was born in 1993 with the concept of "recreating the spirit of Art Deco" (Art Deco is a design with a geometric motif that was popular in the 1920s ). The name comes from the "Chronometro Gondolo" that was delivered to the Brazilian retailer Gondolo & Lavrio.
They offer a wide variety of case shapes, including tonneau, rectangular, and cushion-shaped, and many of their watches have a unique feel. They have a lineup of both men's and women's watches, but there are more watches for women, and these models are especially popular among women.
Twenty-4
*Source: https://www.patek.com/en/collection/twenty4/4910-1200A-001
" Twenty-4" was launched in 1999 for active women. It features a stylish and elegant design inspired by Art Deco.
Most of Patek Philippe's watches are mechanical, but the Twenty-4 line-up also includes quartz watches, making it a recommended model for those who find winding and maintaining mechanical watches troublesome. In 2018 , the collection's first model with an automatic movement was released, featuring a round case and diamond-set bezel, and is popular as a ladies' watch.
summary
What did you think.
Patek Philippe is one of the world's three biggest watch brands, thanks to its long history and advanced watchmaking technology. They offer a variety of collections, including the popular luxury sports watch "Nautilus," the "Calatrava," said to be the ultimate dress watch, and the "Complications," which are equipped with complex mechanisms.
All of these watches are made by hand by skilled craftsmen, and the watches made with such precise manufacturing techniques can be considered works of art. Please actually take a look at a Patek Philippe watch, which also has such asset value. I think you will understand why it is so popular.