Why are Patek Philippe watches so expensive?
Posted on December 24 2020
7 out of the 10 most expensive timepieces ever sold in the entire history of watches were Patek Philippe timepieces. Celebs & royals like them because of the class that these timepieces offer. When it comes to Swiss luxury watches, Patek Philippe is unquestionably one name that tops the list & has achieved the ultimate status symbol of the rich & outstanding lifestyle like very few gadgets over the years. Patek Philippe timepieces are synonymous with class, high auction values, conservatism, price legitimacy & some of the best looking traditional watches now, or ever.some unbelievable tales yet to be narrated.
A Patek Philippe timepiece even holds the record for “the most expensive timepiece ever sold” at a huge auction. A jaw-dropping amount of $23.98 million (23,237,000 CHF) was spent on the Patek Philippe Henry Graves Supercomplication pocket watch. While the Patek Philippe 1518 Stainless Steel is sold for $11 million, making it the “world’s most expensive wristwatch” ever.
So what makes Patek Philippe timepieces so valuable & expensive that people are ready to pay millions of dollars for them? Here are some reasons that might point you to the answer.
HERITAGEPatek Philippe came under the Stern family's ownership in 1932. It was a tumultuous time for the watch company to find it hard to stay afloat after the stock market crash in 1929. Stern was already a close confidant & supplier of top quality dials. Both groups cared about protecting the heritage of Swiss watchmaking. Within a year, Stern had fully acquired the company & the family runs the business to this day.
The men who lead the ship at Patek Philippe have been in the watchmaking business for centuries, which is the first reason why Patek manages to hold such high prestige. Patek still embodies the nostalgic swiss watchmaking, the dream of a family-run business making the highest quality watches from workshops in Geneva surrounded by the snow-capped swiss alps.
Eternal experience & a significant level of expertise are relinquished from one generation to the next & hence they got their tagline, "You never actually own a Patek Philippe. You merely take care of it for the next generation."
Some parts, like the case, still use traditional processes that date back to the 19th century. Because the brand has mastered the art of fine watchmaking & watch has been bought by royalties. Most of these masterpieces users have been either kings or queens or famous celebrities around the world.
world's richest wear Patek Philippe timepieces in high regard. As a matter of fact, many elite A-category celebs & influential people claim they carry this exquisitely exclusive brand. Rap & hip-hop artists also often mention the Patek Philippe timepiece in their music concerts, referring to the watch as a token of money & power.
Some of the most influential who own a Patek timepiece are The Beatles, Walt Disney, Brad Pitt, Albert Einstein, Nelson Mandela, Pablo Picasso, Prince Charles of Wales & Queen Elizabeth II.
The unique design of Patek Philippe watches reflects the beauty of the watch. Every technique & style is meticulously taken out with genuine art & excellent craftsmanship. It involves various artisan processes such as inlays, enamel painting, the setting of precious stones & too delicate engraving.
The attractive & high-quality hand-applied decoration is self-evident in every single part of the timepiece. To finish a subtle piece like the wheels, it demands about 40 to 60 steps. Every complex detail of a Patek Philippe timepiece is noticeable, from the dial itself to the faceted batons & hands.
Patek Philippe introduced a seal of their own in 2008 called the Patek Philippe Seal to commit to excellence. The Geneva Seal Bureau commands quality watch movements criteria to protect the city's reputation as the home of the finest watchmaking.
On the other hand, the Patek Philippe seal establishes rigid requirements for a watch's aspects & components & the timekeeping accuracy.
Aside from the wristwatches, Patek Philippe also sets high standards at training their employees. That covers the salesperson, the watchmaker & the customer support service.
Based on the reasons mentioned above, it's no doubt why the Patek Philippe timepiece is such an expensive & worthwhile watch. Patek Philippe has established itself as a benchmark brand in the Swiss luxury watch market with its longstanding tradition and history in watchmaking. The blend of different factors, such as innovative designs, top quality materials, and the finest workmanship, makes it a superior watch name in the world of horology.
Now that you know why Patek Philippe costs so much, please take a look at the most expensive watches by Patek Philippe!