The Beautiful Work of Patek Philippe
Why are Patek Philippe watches so expensive?
If you’re familiar with Patek Philippe watches, then you already know why they are treasured the world over. These luxury watches have been around for more than 175 years, but they’re astonishingly rare: it’s said that fewer than one million of these fine, expensive watches have been produced since the company’s inception in 1839. Other Swiss watchmakers typically produce more than that in just one year!
Rarity, however, is not the only reason that these luxury watches command the price they do. The brand’s history, the watches’ superb design, and their value as an investment all help to explain the appeal and the expense of Patek Philippe watches. Learn more about these factors – and how we could help you buy or sell your very own Patek Philippe watch – by reading below.
About The Founders
Patek Philippe has always been privately owned, and the company got its start when Antoine Norbert de Patek settled in Switzerland after a stint in the Polish 1st Mounted Rifles Regiment. He was part of the Great Emancipation to Western Europe that occurred in the wake of the failed November Uprising. Patek discovered the tradition of watchmaking in Geneva and partnered with another Polish immigrant named François Czapek, a watchmaker. Along with Patek’s wife’s uncle, the pair founded a watchmaking company. Although the company was successful from the start, tensions between Patek and Czapek forced a breakup, and Patek met Jean Adrien Philippe in Paris at an exposition. It was there that Philippe’s invention of a keyless setting and movement system won a gold medal. Patek was impressed, and a historic partnership began.
Rare But In-Demand
Patek Philippe’s craftsmanship is renowned the world over. The company’s meticulousness is legendary: it takes about 9 months to create a Patek Philippe watch, which can stretch to more than 2 years for more complicated models. Patek Philippe is also committed to being able to repair every single watch it has ever built, all the way back to 1839.
Despite the minuscule production of Patek Philippe watches, they are not in any less demand throughout the world. In fact, demand continues to grow! These watches are such a status symbol that the purchase of some models requires an application.
Exquisite Watch Design
Another reason for the price tag of Patek Philippe watches is the beautiful, handcrafted design and movements. For example, the Patek Philippe Grandmaster Chime has nearly 20 separate features on its two dials. Yes, this is a reversible watch with dials on either side! Unlike other watchmakers that outsource their case-making, Patek Philippe cases are designed in-house, typically from strong pieces of gold or platinum. This procedure for making cases dates back to the 19th century, and only the very best watchmakers use it these days. Furthermore, each watch carries unique touches and exquisite details that are not only noticed by the average viewer, but also are much appreciated by the collector of Patek Philippe watches.
An Investment With Great Value
No other manufacturer of luxury watches can match the resale value of Patek Philippe. As one example, the Nautilus model, which was first manufactured during the 1970s and would typically sell for less than $3,000 new, now goes for upwards of $50,000. Patek Philippe watches usually sell for high prices at auctions too, as illustrated by the £8.9 million price tag of the Ref 1518 at one auction.
You Know Exactly What You’re Getting
Each Patek Philippe watch has a complete track record, with both the date of production and the date of original sale documented. While these records don’t contain the names of the previous owners, you can be sure each Patek Philippe watch was once owned by at least one member of high society. In addition, you can almost see and feel the momentous life events each watch witnessed. This means it’s rare that one comes up for auction, and auctions that do contain one or more Patek Philippe watches garner plenty of attention.
How Joshua Kodner Galleries Can Help You Buy or Sell a Patek Philippe Watch
When you’re looking to buy, sell, or have Patek Philippe watches appraised, Joshua Kodner Galleries is the professional to trust in South Florida. We serve both Florida and international markets. We are on call 24 hours a day, 7 days a week, and we offer same-day service. Our auction and appraisal boutique has luxury watches in our collection that have been personally inspected by a member of our experienced staff. We host regular auctions and encourage you to visit our homepage to view the schedule of upcoming ones. Even if you can’t make it to our auction house, you can participate in our auctions by leaving an absentee bid, calling during the live auction, or using one of our several online methods.
Are you looking to sell a Patek Philippe watch? You can be sure your items will always reach a large audience, as we have a list of more than 700,000 subscribers. We’ll ensure your item finds the right buyer, no matter where they’re located in the world. If you’re interested in consignment, we invite you to contact us, as we’re always looking to add items to our collection. Finally, we can assist those who have recently lost loved ones to appraise their assets and liquidate their estates.
Joshua Kodner himself is a fourth-generation gemologist, certified appraiser, and licensed auctioneer. In addition to expensive watches like Patek Philippe watches, we deal with fine jewelry, antique paintings, Chinese artwork, Lalique, bronze artwork, sculptures, furniture, diamonds, gold, and sterling silver.
Get a quote to buy, sell, or watch auction with Joshua Kodner Galleries today!