4 Things You Should Know About Patek Philippe Watches

For many watch collectors, Patek Philippe watches are aspirational timepieces that figure prominently in dream collections. The beauty of the complications alone is worth the investment for your collection – but Patek Philippe watches are so much more than aesthetic marvels. They are pinnacles of craftsmanship and engineering that have been making waves in the watch world since the company’s inception in 1839.

A Patek Philippe watch is a horological holy grail for new collectors and long-time enthusiasts alike. Many customers are first drawn to the brand because of its timelessness. Founded nearly two centuries ago, it is one of the oldest watch manufacturers in the world. Additionally, Patek Philippe holds the record for the most expensive watch sold online ($5.8 million on a Sky Moon Tourbillon, Reference #5002G).

Seeing Drake, Victoria Beckham, and Kevin Hart photographed in the brand oozes status and a need to own a Patek Philippe watch for yourself. But it’s not just modern celebrities that love Patek Philippe. Royalty and high society European watch connoisseurs have been wearing the brand for years. In fact, Patek Philippe is widely considered to have started the women’s wristwatch movement with a custom creation for the Hungarian Countess Koscowicz in 1868. Not to mention, the brand has a museum! It doesn’t get any more ambitious than that.

Aside from the fact that these timepieces are the epitome of precision, here are four things you should know about these exquisite timepieces…

With Patek Philippe’s watchmaking perfection, you can expect an exclusive clientele. Since 1851, watches have been delivered to Queen Victoria and Prince Albert, Christian IX, Princess Louise of Denmark, and Victor Emmanuel III of Italy to name a few important figures.

To even purchase one of the most sought-after models, the Grandmaster Chime (reference #6300G), you need to apply. The Stern family, who own the brand, then needs to handpick you. Released in 2016, this timepiece boasts a whopping 20 complications. It’s no wonder they would want the watch to specifically go to a collector who appreciates and values it. The watch can't go to someone who will just resell it on the market.

Owning a Patek Philippe watch is like being one of 600 people invited to the Met Gala each year. The luxury watch brand has produced less than 1 million watches since it originated 184 years ago. This is a surprisingly low supply, considering other luxury brands such as Rolex produce about 1 million watches per year!

But why is there so little inventory? For one, it takes about nine months to make Patek’s most basic watch. More complicated ones can take up to two years to produce. In addition, the brand constructs every element of each watch in-house and by hand. As a result, the process slows down even more. You’re paying what it’s worth, that’s for sure.

Many believe that it is easier to hold onto tradition and quality in a privately owned company. In 1932, brothers Jean and Charles Henri Stern purchased the company. Originally, the Stern family’s dial manufacturer supplied dials to the brand, allowing their trusted bond to form this successful acquisition.

Since then, Patek Philippe has pushed the boundaries in watchmaking standards. The Stern family continues to run the brand today, with Thierry Stern as president since 2009.

Brands will always change direction under new management. After a successful 30-year tenure, Audemars Piguet’s former CEO François-Henry Bennahmias stepped down to pave the way for new leadership. On January 1, 2024, Ilaria Resta took over leadership of the company. Resta is a Swiss-Italian national whose background lies primarily in the cosmetics industry, where she has worked with powerhouse brands like Procter & Gamble.

Resta’s perspective? She says she is excited “about creating innovation, passion and true emotion at the brand.”

Patek Philippe's ownership is now in its fourth generation, ensuring consistent, sustainable, and highly developed quality. “This level of expertise cannot be achieved overnight,” says WatchTime’s article about Patek Philippe watches.

What’s even more beautiful is how involved Thierry Stern is with the production side. This is a trait you don’t often hear about in such recognized companies. The president personally checks every single watch before it leaves the factory. That shows just how much pride he takes in his family’s company.

Quality is Patek Philippe’s most precious resource, and they continuously exceed industry standards. Every person is crucial in turning the idea into the final product, from the watchmaker to the salesperson. High-quality employee training achieves this.

Throughout the watch industry, a people-first attitude sets apart the wheat from the chaff. In fact, here at Avi & Co., we have employed the same mentality. Here is what our CEO, Avi Hiaeve, has to say about the way success revolves around success of the whole:

“Everybody is special,” Hiaeve shared. “Avi & Co. is like a car. If one wheel is out, you can’t drive. I don’t look at anyone as smaller than another person. Everyone is important to the company to keep growing.”

In addition to fostering success throughout the entire company, Patek Philippe uses its wealth of resources to create complicated watches you cannot find anywhere else. With nearly two decades of experience, the brand has showcased some incredible complications that have led to their watches retaining – and even growing – their value over time. For instance, consider Patek Philippe’s development of new complications.

The watchmaking industry introduced the silicon escapement wheel in 2005. The Advanced Research Annual Calendar (reference #5250) integrated it with a limited edition of 100 pieces. Patek created the most complicated watch in 2019. The Grandmaster Chime (Reference #6300G-010) consists of a whopping 20 complications which took over 100,000 hours to create. Every component is produced in-house, and every single part of the watch is finished by hand. The immense attention to detail allows the company to continue thriving by never compromising on its journey for perfection.

For years, Patek Philippe has been setting the tone for luxury watches. Many see the brand’s modern chapter as beginning with the introduction of the Nautilus line in 1976.

With the rounded octagonal shape of its bezel and its horizontally embossed dial, the Patek Philippe Nautilus has personified the luxury sports watch since its inception. The demand alone is so high that you must put your name on a waitlist. Today, the brand designs the collection in stainless steel, rose gold, white gold, or two-tone combinations. Each is more difficult to obtain than the last.

After the success of the stainless steel Audemars Piguet Royal Oak, which launched in 1971, Patek knew it was time to develop an exclusive sports watch of their own. Luckily for Patek, Gerald Genta (the designer of the Royal Oak himself) jumped in at the opportunity to design a watch for the brand.

Genta explains, “I was at the restaurant of a hotel and some people from Patek were sitting in one corner of the dining hall, while I was sitting alone in the other corner. I told the head waiter, ‘Bring me a piece of paper and a pencil, I want to design something,’ and I designed the Nautilus while observing the people from Patek eating! It was a sketch that I completed in five minutes.”

The shape of a porthole inspired Genta. Four lateral screws secure the octagonal bezel of the watch to ensure water resistance. Each of the eight sides of the bezel traces a perfect arc of a circle. This makes a huge difference from a design point of view.

The fully integrated bracelet with a folding clasp contributes to the character of the popular watch. Patek Philippe produces the Nautilus model in different precious metals, completely iced out like the photo below, or with various complications. There is a model for every personality.

Don't wait on a luxury timepiece waiting list. Instead, explore secondary market resellers to find the Patek Philippe watch you have been dreaming of. But remember, when shopping on the secondary market, it is important to choose a trusted and established retailer like Avi & Co. We have been a staple of New York City’s diamond district for decades, and we cannot wait to welcome you into our family of customers.

As you shop, consider Avi & Co. for your Patek Philippe watches. You can visit us in our upscale showrooms in New York City, Aspen, or Miami before making your investment. We look forward to helping you find your next treasured timepiece! Click here to make an appointment today.