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Patek Philippe is globally recognised and esteemed for its sophisticated and expensive watches. It is the brand that comes along with other elite names such as Rolex, Vacheron Constantin and Audemars Piguet.
Indeed, the watches from this major Swiss watchmaker do not come cheap. In fact, a Patek timepiece has the record of being “the most expensive watch ever sold” at auction. So why are Patek Philippe watches so costly?
Let’s explore the factors that make the timepieces of this iconic brand so valuable that watch collectors are willing to pay millions of pounds for them. Even potential watch buyers often ensure to pay a premium to customers who want to sell a Patek Philippe watch in excellent working condition.
Patek Philippe has been creating premium quality watches for nearly 177years. Their ample amount of experience and top-notch artistry level has passed on from one generation to another. Thus, the brand’s catchphrase is –
“You never actually own a Patek Philippe. You merely take care of it for the next generation.”
However, the watchmaker still makes use of traditional ways of the 19th century to make watch parts such as the case.
This Swiss watchmaker has mastered many spearheading advancements that are yet employed in today’s process of watchmaking. It has nearly 100 patented innovations that have elevated the standard of the horology industry over the years.
However, the inventions include hand-winding two-hand watch, the split-seconds chronograph, the minute repeater and the perpetual calendar. Another significant innovation is the Calibre 89 movement that consists of 1,728 different parts and 39 unique complications.
Patek Philippe produces only 50,000 timepieces every year. Now, this is a limited number if you compare to the production numbers (approximately 1 million each year) of other watchmakers.
The fact is the brand carries out a detailed process of watch production, providing attention to every detail and thus, the production number is low. While the standard models typically take nearly nine months, some of the most complicated ones take over two years to complete.
However, here’s an exciting fact –
The brand launched the Grandmaster Chime limited edition to commemorate its 175th anniversary. It is said that Patek Philippe took nearly eight years to configure the two dials and twenty complications. Then finally, the brand produced only seven versions of them.
Yes, everything including the cloaked parts used in Patek Philippe watches is hand-finished. The case is yet made of a single piece of platinum or gold without machine finishing. The company has trained artisan to assemble as well as polish the bracelet links and others.
Watches of the elite Swiss watchmaker Patek Philippe have an excellent resale value. In fact, you can only expect the value of these watches to only increase with the time, making them worthy of investment. So these are the facts which make the Patek Philippe watches so expensive.
If you own a Patek Philippe watch and want to raise some fast cash, you can choose to sell your watch to any potential watch buyers. You are likely to secure an excellent price, especially if it is in good condition.
So do you want to sell your Patek Philippe watch for the best price? Fill up our simple online form with all details of your luxury watch. You will get a free competitive quote immediately.