There is only one Patek Philippe, and something about it catches collectors’ attention like no other luxury watch brand.
It might be the scarcity of the Swiss company’s timepieces and the technological innovation behind each watch. It might be the company’s long history and spotless reputation.
But really, it might just be the looks.
The Patek Philippe name is synonymous with high-end timepieces, and the brand’s watches are some of the most desirable pieces to own. Throughout the company’s nearly 200-year history, its watches have been crafted by generations of family members, worn by royalty and broken records at auction houses.
John Reardon, the International Head of Watches at Christie’s auction house in London, says the top reason collectors go crazy for Patek Philippe is the scarcity.
Since 1839, fewer than 1 million Patek Philippe watches have been made. That’s less than some luxury watch brands make in a year, Reardon says. Since each watch takes a minimum of nine months to make and global demand is growing, a Patek Philippe watch has become the ultimate want-what-you-can’t-have item in luxury watches.
Does nine months sound like a long time to make one watch? Consider the fact that Patek Philippe manufactures nearly every component of its watches in house, more than any other luxury watch brand. That means the company controls every detail of each watch’s production to ensure the piece is up to the Patek Philippe standard.
Since the company’s founding in 1839, Patek Philippe introduced the perpetual calendar, split seconds hand, and minute repeater. Now the company has over 80 patents registered in its name. In addition to advancing the watch industry technologically, Patek Philippe also makes timepieces fine enough for royalty. Monarchs including Queen Victoria, Princess Louise of Denmark, and Victor Emanuel III of Italy have owned Patek Philippe. Even Pope Pius IX owned one of the brand’s pocket watches.
Today, Patek Philippe is the last Swiss watch maker that makes every component of their watches in Geneva, once the center of luxury watches. The brand’s museum in Geneva gives visitors a look into what the original workshop may have looked like.
Do you own a Patek Philippe watch?
Are you interested in selling your own Patek Phillipe piece? The timeless style and high demand for Patek Philippe watches make them a great investment because they have a high resale value.
Diamond Banc is the industry expert in buying luxury watches and our jewelers have extensive experience in evaluating Patek Phillipe watches. At Diamond Banc, luxury watch aficionados will get the best value for their timepieces and will work with experts in the industry. Fill out our selling form to get an initial evaluation and more information on selling your watch.
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