From SwissWatchExpo…
Spotlight On: Patek Philippe.
Why watch collectors love it.
Patek Philippe is generally regarded as the most prestigious watch brand in the world.
So coveted are their watches, that they easily dominate other watchmakers in achieving consistent,
record-setting prices at auctions.
As their famous advertisement said, you never actually own a Patek Philippe, you merely
look after it for the next generation” – Patek Philippe watches are considered investments,
through and through.
But what really makes a Patek Philippe so desirable?
We’re giving you 5 reasons why collectors love them, and why, even if they’re notoriously
hard to get — they keep coming back for more.
First is Patek Philippe’s provenance and heritage.
Founded in 1839, the company has been making watches for almost 180 years now, and remains
one of the last, independent family owned manufactures.
Throughout the two centuries of Patek Philippe, it has pioneered many groundbreaking innovations
that are still being used in horology today.
In fact, they have been given over a hundred patents for the innovations they have introduced
to the watchmaking industry.
Examples of these innovations go from simple to complicated.
Such as, the hand-winding two-hand watch, to the more sophisticated perpetual calendar,
and the split-second chronograph.
All testaments to the dedication of the company to horological expertise.
They are also known for their exceptional design and craftsmanship.
Despite this, Patek Philippe watches aren’t flashy; in fact, their designs are very studied.
From the Bauhaus-inspired Calatrava, to the Art Deco Gondolo – Patek Philippe watches
were made to last through finicky changes in fashion.
In fact, each watch, with as many as 252 individual parts, are all assembled by hand.
This means that even the parts that are unseen by the wearer, such as the movements, are
assembled in obsessive detail; and no shortcuts were made.
Another reason Patek Philippe watches are coveted is because of their scarcity and exclusivity.
It has been said that less than 1 million timepieces have been created by Patek Philippe
since its inception.
Today, the watch industry produces roughly about 20 million timepieces a year; and only
50,000 of those are Patek Philippe.
Divided among different collections and styles, it amounts to just a very small number of
Patek watches released yearly.
One big reason why Patek Philippe’s production numbers are low is because of its detailed
production process.
It takes about nine months on average to make a Patek Philippe watch; and as long as two
years to make the more complicated styles.
But once you do get your Patek Philippe, especially a vintage one, you can trust that you’ll
be able to find information about it.
Every Patek Philippe watch has a searchable record available at the company’s archives.
If you’d like to know more about your watch, you can be confident that you can find out
details such as its date of production and original date of sale.
And lastly, Patek Philippe watches are known for their incredible investment value.
While it’s never advisable to buy a watch as an investment due to a fickle market, Patek
Philippe watches are known to hold their value well.
One of the reasons for this is that it remains an independent, family-owned company, who
has a firm grip on its production, distribution, and value.
And while tastes change over time, Patek Philippe’s designs transcends trends.
Combined with their use of precious metals, their inherent quality, and imperial provenance,
you get a watch that’s fit to pass on to the next generations.