Are Patek Philippe Watches A Good Investment 2024

More than 200 years of history and the best master watchmakers behind them have marked the future of this Swiss brand. Did you know that they have endless waiting lists to access any of their models? In addition, each auction with one of their watches means guaranteed success, from pocket pieces to the newest ones.

At Subarna we wanted to ask ourselves why the keys to a long list of very high auction prices are so high. Do you want to know the most relevant facts and models? Here we go!

A Chronology With Initial Name Change

In 1839 Geneva was, along with other Swiss cities, a host of immigrants, as it offered many opportunities for entrepreneurs. In this context, two Polish soldiers left the army to try their luck in this city, which was becoming increasingly economically powerful.

In the 19th century, Antoni Patek and Franciszek Czapek opened a workshop in the city center with Patek responsible for selling the products while Czapek made pocket watches. Subsequently, other Polish immigrants came into the business and the aforementioned workshop was able to produce more than 200 watches annually, a new concept at that time.

The real turning point came with the split of the two main partners. Apparently, Czapek wanted to continue his course alone and left Patek. We must point out before continuing, that Franciszek Czapek prospered greatly with his new business, to the point that today the brand sells watches between €29,000 and €60,000.

So, after this early departure, Adrien Philippe, a very young and ambitious jeweler, came on board and relaunched the brand from 1845 onwards with the quality and fame that we know today. One of the principles that Philippe introduced was the complete manufacture of each element of the watch by the workshops, something unusual in watchmaking, which often subcontracts the manufacture of some of the pieces

The Leap to Fame With Wristwatches

The rest of the 19th century was marked by a meteoric rise of the brand, with the Philippe family taking full control after the death of Antoni Patek. One of the first major promoters was Queen Victoria of the United Kingdom, who in 1851 purchased several watches to be pinned to her dresses. A historic milestone would be marked at the close of that century, with the invention of the first women’s wristwatch, specially commissioned by the Hungarian Countess of Koscowicz.

The First Ladies’ Wristwatch

The arrival of the 20th century transformed the brand. Firstly, it became a public limited company, still in the hands of 7 family shareholders. Secondly, there were also new milestones in terms of technological innovation. Patek Philippe was the first watchmaker to create the patented double chronograph, with aviators, sportsmen, and soldiers being its main stakeholders.

As early as 1916, what we now know as “complications” (anything that can be read beyond hours, minutes, and seconds) came into play. Alpine watchmaking began to patent true technological treasures that included lunar calendars, perpetual calendars, and all kinds of springs that earned them the title of “most expensive watch brand in the world.” Their models have survived to this day as the best. Would you like to know which ones?

The Models That Make History

Calatrava, flagship

Patek Philippe first introduced the Calatrava Ref. 96 model back in 1932 and the watch model was designed by an English watchmaker by the name of David Penney, whose ideas were inspired by the Bauhaus art movement in Germany. Originally, the Stern brothers brought the Calatrava model to Patek Philippe shortly after they purchased this brand in 1932 to spare it from the effects of the Great Depression in an unproblematic manner.

The first Calatrava ref. 96 was produced for over 40 years and the later version is the Ref. 2526, ref. 3520, ref. 5196 and the rest. As for the Calatrava wristwatch, this model is particularly characterized by its simplicity of line and judicious elegance which made it emblematic of the brand since its creation. For example, it is worth mentioning that the Calatrava Cross has been the company’s emblem since 1887.

World Time Wristwatch

A line known as the Patek Philippe World Time ( Heures Universelles ) was launched in 1939 and the first model was the Reference 1415; a step taken to correctly indicate the time anywhere in the world. Other features that are called the “World Time” meaning that the watch can indicate the time in all the 24 time zones simultaneously were created by Louis Cottier in 1931.

Cottier’s invention made several watch companies approach him, however, after partnering with Mr. Cottier, Patek Philippe was the first company to launch a world-time wristwatch series. The continued versions of the Ref. 1415 include ref. 2523, ref. 5230, ref. 5531 with minute repeater and so on.

As of 2018, the Patek Philippe World Time collection (Ref. 1415, Ref. 2523) ranks 6th among the world’s 58 most expensive watches sold at auction (over US$2 million), with a world record of US$4.027 million (CHF6,603,500) realized at a Geneva auction on April 13, 2002.

Nautilus Wristwatch

The birth of the Nautilus collection was in 1976 after Patek decided that it was about time they made a luxury sports watch with the finishing touches that this manufacturer was certainly capable of. The first model, which was released into the market, was known as Ref. 3700 which was made of steel. It was done by Gerald Genta, a Swiss watchmaker who also created the Royal Oak collection for Audemars Piguet; the watch was launched during the quartz crisis by Patek Philippe who hoped it could redirect people’s attention to the expensive mechanical Swiss watches.

The Nautilus collection was quite important for the company’s overall promotion since it was an important task for Patek Philippe to change the image of the brand and maintain the tradition. More specifically, while the target audience of the commercials was dynamic business managers of the new generation, Figure 1 sought to illustrate ethnicity as well. The Nautilus collection has grown to become one of the most sought-after Patek Philippe timepieces, and the Ref. 5711 and 5712 models that were created by the manufacturer in 2006 to commemorate 30-year anniversary of the Nautilus collection are a big success.

Perpetual Calendar Chronograph

Perpetual calendar chronographs have been with Patek Philippe since 1941 with the reference number 1518 being the first of its kind. On November 2016 for instance a Patek Philippe Ref. 1518 in steel set a record and became the most expensive wristwatch ever sold at an auction where it was sold for $11. 805,000 francs via Phillips auction house where 14 million of them were sourced in Geneva.

Ref. 2499 is the successor of one of the most outstanding designs of Patek Philippe, or one of the best watch models in the world. For over 35 years from 1950 to 1985, the Patek Philippe’s Manufacture produced only 349 Ref. 2499 watches. Four series of Ref. 2499 as the result of 35 years was the impact it had on many other famous wristwatch manufacturers. According to the data as of June 2019, Ref. 2499 holds the eleven position in the top 59 most expensive watches sold at auction for over US$ 2 million, and a minimum of 18 pieces of Ref. 2499 sold for over US$ 1. 5 million, world record standing US$3. 88 billion (CHF3,915,000) was realized at an auction at Sotheby’s in Geneva on November 13, 2018. The references that followed ref. 2499 includes, in sequence, Ref. 3970, ref. 5970 and ref. 5270.

Sky Moon Tourbillon

The Patek Philippe Sky Moon Tourbillon wristwatch started in 2001, and Ref. 5002 is the model. It has 2 dials and as many as twelve complications; tourbillon, minute repeating, celestial chart, moon phase, and orbit. A new model of Sky Moon Tourbillon is the second one that appeared in 2013 under the reference number 6002 and has 12 functions. The design took 7 years of intense studies whereas the carving of each member required over a hundred hours.

Sky Moon Tourbillon used to be the most complicated Patek Philippe’s wristwatch before 2014. Data shows that the pieces are only created in a few, between 3 to 5 pieces per year, and cost more than 1. 2 million US dollars. However, the piece can be bought by anyone, who sends an application to Patek Philippe and the buyer has to be approved by Thierry Stern, the president of the company. Indeed, on October 2, 2018, Poly Auction, a BJDFeature auction house sold a Sky Moon Tourbillon 6002G for US$2 in Hong Kong. 14/HKD 21,240,000 selling it for a total of 707,000,000 making the Sultan of Oman’s Patek Philippe Caliber 89 the world’s most expensive wristwatch to be auctioned out.

150th Anniversary Edition

For example, in 1989, to mark its 150th birthday Patek Philippe launched the Calibre 89 – at that time the world’s most complicated mechanical watch. Caliber 89 is made up of 33 indications which are Easter date, sunrise, equation of time, sidereal time, and the others. 17,278 parts are made for sidereal time, a chart of 2800 stars is provided, and many other features. Moreover, Calibre 89 can also make February more than 28 days for the leap years while it can leave out an additional day for every 100 years it takes.

There were only four of the calibre 89 ever produced, one made of white gold, one made of yellow gold, one made of rose gold, and one made of platinum. The yellow gold and white gold Calibre 89 were sold at auction in 2009 and 2004 in Antiquorum and currently ranked as the ten most expensive watch ever sold at auction with an overall price tag above $5 million.

175th Anniversary Edition

Patek Philippe launched 2014 the Traditionnelle Caliber 175 ‘Grandmaster Chime Ref. 5175’, the most complicated wristwatch constructed all through the Patek Philippe Manufacture (with twenty complications, but no tourbillon), in homage to the 175-year-old establishment of the organization. Out of all the diver’s watches that Patek Philippe has made over the years, only seven Ref. 5175s were built each of which is unique with one going to the Patek Philippe Museum of Geneva. The retail price for the other six pieces was 2 for each. 5 million Swiss francs of which (US$ 2. 6 million).

The Grandmaster Chime Ref. 6300, was launched in 2016 as the Patek Philippe replacement for Grandmaster Chime Ref. 5175. There is also the Ref. 6300 which has 20 complications and costs more than US$2 million but lacks a tourbillon though has a grande sonnerie, minute repeater, and striking alarm. 2 million. Every single piece can be bought by simply filling out a form and this has to be authorized by Thierry Stern the President of Patek Philippe.

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