Patek Philippe

Patek Philippe is one of the few remaining independent Geneva-based luxury watch manufacturers. They are still family-owned, which contributes to their good reputation – and not just among experts. Patek Philippe manufactures nearly every component for their watches in-house. A Patek Philippe is the crown jewel of any watch collection. What's more, their high esteem and lasting value make these timepieces fantastic investments.

The manufacturer relies on a primarily traditional design language and emphasizes its identity as a family business. In terms of materials, Patek is known for using precious metals such as gold or platinum. Stainless steel editions do exist, but they're much less abundant than in other manufacturers' catalogs.

The Calatrava and Nautilus are Patek Philippe's most recognized models. The former has been in production since 1932 and embodies simple elegance, while the Nautilus debuted in the late 1970s and boasts a sporty design accredited to none other than Gérald Genta. For many watch enthusiasts, the Nautilus is synonymous with the watch giant as a whole.

Patek Philippe flexes their watchmaking muscles with their Complications and Grandes Complications collections. Here you'll find watches with tourbillons, chimes, perpetual calendars, moon phase displays, and world time functions.

Patek Philippe crafts some of the world's most prestigious timepieces. As a result, most of these watches demand high prices. Models from the Complications and Grand Complications collections are especially expensive, with prices for models in the current collection starting at around 53,000 USD. That said, you can find select older models at around the 16,300 USD mark. Premium, complicated timepieces can command millions; the Grand Complications ref. 5208R-001, for example, requires an investment of no less than 1.46 million USD.

Wristwatches from the popular Calatrava line are a bit more affordable in comparison, starting at around 10,800 USD on Chrono24. Prices for models in the Aquanaut collection rarely fall below 43,000 USD, and certain references with intricate complications and precious metal cases can climb to well over 100,000 USD. By spring 2024, the value of the Advanced Research Aquanaut Travel Time in white gold had reached 557,000 USD.

The Nautilus is one of Patek Philippe's most celebrated collections. Prices for pre-owned women's versions demand an investment of at least 10,800 USD, while the iconic ref. 5711/1A-010 will set you back approximately 134,600 USD in mint condition (as of April 2024). The limited-edition Nautilus 5711 with a turquoise Tiffany dial is on a whole other level, with dealers charging prices similar to those for a Grandmaster Chime – a timepiece that has broken the three-million dollar mark.

Despite this, owning a Patek Philippe doesn't have to cost an arm and a leg. Models like the Golden Ellipse, Twenty~4, and Gondolo change hands for much more manageable prices. Current editions generally cost between 13,000 and 76,000 USD on Chrono24. Vintage models in good condition can be found for as little as 6,000 USD.

The Calatrava collection has been part of the Patek Philippe catalog for over 80 years. Its name comes from the Spanish Order of Calatrava, whose cross serves as the company logo. This same image also adorns the crown of each Patek watch. Thanks to its simple elegance, the Calatrava is the perfect companion to any tailor-made suit and, thus, the ideal dress watch.

The collection contains a wide range of timepieces, but all Calatrava watches have a particularly thin profile. The three-handed ref. 5227, for example, measures 39 mm in diameter and only 9.24 mm thick. This automatic watch is available in white, rose, or yellow gold and costs between 37,000 and 41,000 USD, depending on the version.

Particularly elegant are the models with small seconds at 6 o'clock. Take reference 6119, the latest version with a Clous de Paris guilloché bezel: This model is powered by the in-house caliber 30-255 PS, which boasts a power reserve of 65 hours. The watch is available in white or rose gold for around 33,700 USD.

The Calatrava collection is also home to several women's models. Most of these watches come in rose or white gold and feature diamonds. They measure between 33 and 38 mm in diameter, and buyers can choose from particularly compact versions with manual or automatic calibers. Prices for a pre-owned Calatrava women's watch with a quartz movement begin around 5,500 USD. Models with diamonds can run up to 71,000 USD.

The finest variants of the Calatrava have intricately engraved dials and platinum cases. One example is the ref. 5088/100P, which easily demands about 110,000 USD.

Calatrava Travel Time

Patek Philippe treated the watch community to a number of new Calatrava models at Watches and Wonders 2024. The Calatrava 24-Hour Travel Time ref. 5224R-001 is a unique highlight among the latest releases. Equipped with the in-house caliber 31-260 PS FUS 24H complete with a micro-rotor, this reference offers a second time zone. Unlike conventional GMT watches, the 5224R-001 shows the local and home time on one 24-hour display. You can buy this rose gold Calatrava on Chrono24 for around 60,000 USD (as of April 2024).

The Calatrava Pilot Travel Time is now available as a chronograph with the reference number 5924G. This white gold timepiece resembles a pilot's watch and comes with a blue-gray or khaki dial. The price point sits at approximately 81,400 USD.

The Swiss manufacturer also launched some new versions of existing models. The limited-edition stainless steel 6007A-001 now comes in three different white gold variants, all in standard production. Unlike their inspiration, these new releases feature a black dial, and splashes of red, yellow, or bright blue inject color into the collection. Depending on which of the trio you choose, you can expect prices between 65,000 and 76,000 USD.

Patek Philippe show off their sporty side with the Nautilus. Those who value tradition gravitate toward the models in stainless steel – the material used for the very first Nautilus. The original was released in 1976 under the reference number 3700/1 and drew immediate attention, thanks to the porthole design created by Gérald Genta. In April 2024, these vintage models changes hands for roughly 136,000 USD.

At Watches and Wonders 2021, Patek Philippe announced a "farewell" 5711 edition, ref. 5711/1A-014. This watch's unique feature is its olive green sunburst dial with a horizontal relief pattern – an entirely new design in the Nautilus collection. While the list price for this watch was 34,893 USD upon its release, the market value had risen to a staggering 298,700 USD by April 2024.

You also have the option of purchasing your "green" Nautilus fitted with a diamond-paved bezel. This configuration can be found under the ref. 5711/1300A and has an official retail price of 94,624 USD. This version changes hands on Chrono24 for roughly 700,000 USD.

If you're a big fan of diamonds and white gold watches, the ref. 5719/10G-010 is a great option. This timepiece boasts no less than 1,700 diamonds and requires an investment of approximately 710,000 USD.

The title of most expensive Nautilus model is held by the Tiffany Blue 5711/1A with a turquoise dial. The watch was created in collaboration with Tiffany & Co. to mark 170 years of partnership in 2021. The white gold timepiece has the same movement as the stainless steel edition and was limited to a production run of just 170 pieces. It was exclusively sold in Tiffany boutiques in the USA for 52,635 USD, but by early 2024 prices on the secondary market had soared to between 2.3 and 2.75 million USD.

In October 2022, Patek Philippe surprised fans with a successor to the Nautilus 5711, the ref. 5811/1G-001. The watch's white gold case clocks in at 41 mm (one millimeter larger than previous versions) and is paired with a matching white gold bracelet. Otherwise, not many updates were made for the newer edition. The watch features a blue dial and is powered by the renowned caliber 26-330 S C. The price point on Chrono24 sits at around 166,000 USD (as of April 2024).

Nautilus in Jeans

At Watches and Wonders 2024, Patek Philippe presented a new Nautilus flyback chronograph ref. 5980/60G. The case is made of white gold and has a diameter of 40.5 mm. Inside ticks the automatic caliber CH 28-520 C. Along with the flyback chronograph function, the movement offers a combined display of 60 minutes and 12 hours as well as a date at 6 o'clock. The dial is in the opaline blue color so popular with Nautilus fans. The fitted bracelet is stunning: the underside is made of leather, while the upper side is made of a blue-gray denim style fabric. The manufacturer's suggested retail price is 78,950 USD; however, dealer prices are expected to be significantly higher.

Patek Philippe Nautilus For Ladies

Nautilus models for women are smaller than those traditionallly intended for men. Patek produces a 32-mm quartz-powered model, as well as a 35.2-mm automatic version of the watch. In terms of material, you can choose from stainless steel or rose gold, and some timepieces also come with a diamond bezel or are entirely encrusted in diamonds. Prices for the ref. 7118 run between 65,000 USD for a refined stainless steel version to over 430,000 USD for the rose gold version decorated with 2,553 diamonds.

Patek released the Aquanaut in 1997. While clearly inspired by the Nautilus, this timepiece is no remake. Its design is more modern and less angular. The manufacturer crafts the tropical strap out of a special composite material resistant to water, abrasion, and UV rays, which lends the timepiece a rather sporty feel. As of April 2024, the three-hand version in stainless steel (ref. 5167A-001) will set you back about 67,300 USD.

Versions in white or rose gold are more expensive and demand an investment of between 90,000 and 98,000 USD. The stainless steel Aquanaut Travel Time ref. 5164A is in a similar price range and features a second time zone. If you'd prefer the Travel Time in gold, be prepared to spend approximately 120,000 USD.

Patek offers women's Aquanaut models in two sizes, 35.6 and 38.8 mm. Options include everything from simple stainless steel versions to diamond-encrusted gold timepieces. The prices for these watches are similarly varied: A stainless steel women's Aquanaut with a quartz movement changes hands for as little as 15,200 USD on Chrono24. The same watch with a diamond bezel costs about 57,500 USD. Someone in the market for a gold version with diamonds, such as the ref. 5072R, should expect to pay roughly 174,000 USD.

Aquanaut: Annual Calendar

Spring 2023 marked the dawn of a new era for the Aquanaut: Patek Philippe gave the latest models an annual calendar and moon phase display. The Aquanaut Luce Annual Calendar 5261 ref. 5261R-001 is made of rose gold and measures 39.9 mm in diameter. The watch's beating heart is the in-house caliber 26-330 S QA LU, which you can admire through a sapphire crystal case back. In Spring 2024, this model changed hands on Chrono24 for approximately 174,000 USD.

New Aquanaut Models in 2024

At Watches and Wonders 2024, Patek Philippe presented two new variants of the Aquanaut. Ref. 5269R is a variant of the Aquanaut Travel Time. It has a rose gold case with a diameter of 38.8 mm. The blue-grey opaline dial features rose gold indices. At the heart of the watch is the quartz caliber E 23-250 S FUS 24H, which provides the watch with central hours, minutes, and seconds, as well as a fourth hand for a second time zone. The watch is worn on a rubber strap that matches the color of the dial. The official list price from Patek Philippe is 35,350 USD.

The Aquanaut 5268/461G is equipped with an automatic caliber 26-330 S. The classic three-hand movement displays the hours, minutes, and seconds centrally. The case is made of white gold and 38.8 mm across. The gem-setting of the 5268/461G is breathtaking: The bezel is set with a total of 40 baguette sapphires that change color from light to dark blue. On the dial alone, there are more than 200 blue and white diamonds in brilliant or baguette cut, with the blue stones serving as hour markers. Eight diamonds on the lugs complete the package. The MSRP for this jaw-dropping timepiece is 235,670 USD.

Patek Philippe turns watchmaking into an art form in the Complications and Grand Complications collections. Fans of intricate complications are sure to get their money's worth. The exclusive use of precious metals like gold and platinum underscore the high-end nature of these collections. Furthermore, most models feature diamonds and/or fine engravings.

Versions with a world time function or that combine an annual calendar with a moon phase display serve as the entry point into these collections. You can call one of these timepieces your own for between 43,000 and 87,000 USD. Prices for elaborately skeletonized models range from 80,000 to 136,000 USD. Versions with a perpetual calendar demand similar prices. You'll have to dig much deeper into your pockets if you want one of the intricately finished top models with both a perpetual calendar and chronograph function. These masterpieces usually demand between 215,000 and 330,00 USD a piece. Finally, Patek watches that utilize a minute repeater for relaying the time acoustically cost upwards of 215,000 USD.

Highly complicated models like the Sky Moon Tourbillon and Grandmaster Chime are among Patek Philippe's crowning achievements. The former features twelve complications, while the latter boasts an astonishing 20 complications. These include a perpetual calendar, tourbillon, second time zone, sidereal time, minute repeater, and date repeater. However, all this luxury has its price: the Sky Moon Tourbillon requires an investment of well over two million USD, and the Grandmaster Chime sells for over three million USD.

Complications 2024

Patek Philippe added two new models to the Complications collection in spring 2024. The model 5330G is a world time watch powered by the in-house caliber 240 HU C. It features a 24-hour and day/night display as well as a pointer date that can be read off the outer edge of the dial. The movement is housed in a 40-mm white gold case with a sapphire crystal case back. The blue-gray opaline dial features applied white gold baton indices that glow in the dark. A blue-gray strap with a denim look keeps the watch securely on the wrist. The MSRP for this model is 76,590 USD.

The 2024 ref. 5396G is another new addition to the Complications line. The watch is a reinterpretation of the famous 5396 annual calendar model. The case of the new 5396G is made of white gold and measures 38.5 mm in diameter. The watch is powered by the in-house caliber 26-330 S QA LU 24H. Along with an annual calendar, the movement has a moon phase including a 24-hour display and date at 6 o'clock. The blue-black sunburst features baguette-cut diamond indices, which give the watch a particularly elegant look. Patek Philippe's official price is 63,510 USD.

Grandes Complications

Patek Philippe expanded both collections in the spring of 2023 with new variants of existing models. The Grandmaster Chime is now available in a two-tone material design combining white and yellow gold and a version with emeralds and diamonds.

The ref. 5316P also got some attention recently. The new version of the platinum ref. 5316/50P-001 uses the caliber R TO 27 PS QR as beforem, which provides the watch with a perpetual calendar, minute repeater, tourbillon, and moon phase display. The updates here are primarily on the dial, which is now made of sapphire crystal with blue metallization. The material allows the wearer to gaze deep into the movement. In June 2023 there were no listings for this model on Chrono24. The previous version with a black dial, however, can be found on the marketplace under the reference number 5316P-001 for around 1.2 million USD.

New Grand Complications Models in 2024

At Watches and Wonders 2024, Patek Philippe presented three new models that are part of the Grandes Complications collection. The reference 5520RG is a new version of the Alarm Travel Time 5520. The watch has a rose gold case with a diameter of 42.2 mm, while white gold is used discreetly on the four push-pieces. The dial has a gray sunburst finish and applied Arabic indices, which are also made of white gold. The watch is powered by the automatic caliber AL 30-660 S C FUS with a 24-hour alarm, triggered by a gong and striking mechanism. Another function (among many) is a day/night display, offered in two windows below the 12 o'clock position. The MSRP for this model is 259,240 USD.

The Grandes Complications 5160/500R has a perpetual calendar with a retrograde date and moon phase display, as well as displays for the day, month, and leap year. This is made possible by the automatic caliber 26-330 S QR. The watch measures 38 mm across, is made of rose gold. Opposite the silver opaline dial is a hinged lid on the back. This elaborately hand-engraved lid seals the sapphire crystal case back underneath. The list price for this new timepiece is 202,090 USD.

The Grandes Complications 5236P features a rose gold dial and platinum case. Patek Philippe offers the 41.3-mm watch with a solid platinum case back and an additional sapphire crystal case back. The watch is powered by the automatic caliber 31-260 PS QL with a perpetual calendar, moon phase display, date, month, and leap year. Applied anthracite gray indices made of white gold and a small seconds round off the dial. The price: 141,400 USD.

Along with the classically round Calatrava and the porthole design of the Nautilus, Patek Philippe also offers a wide array of watches in different shapes. The Golden Ellipse, for example catches the eye with its elliptical design. Designed in 1968 using the golden ratio, the watch exudes a classic beauty. Current models come in platinum or rose gold and cost between 33,000 and 50,000 USD on Chrono24. However, you can find older models from the 1970s and 1980s in good condition for between 7,500 and 16,500 USD.

In 2024, Patek Philippe unveiled the Golden Ellipse ref. 5738/1R, a new version of the Ellipse 5738 with a metal bracelet. The bracelet is finely articulated thanks to its 363 individual parts and is reminiscent of 1970s designs. The bracelet and case are made of rose gold. The ebony-colored dial has an elegant sunburst finish and narrow, applied rose gold indices. The caliber 240 sets the pace in this watch and provides hours, minutes, and seconds. The official MSRP is 60,100 USD.

Patek Philippe has been offering women's watches in the Twenty~4 collection since 1999. You can choose from two different designs. The classic version bears a slight resemblance to the Cartier Tank, thanks to its rectangular case and integrated bracelet. As of 2018, the Twenty~4 collection also contains a round model. Other than its shape, this timepiece sets itself apart from its counterparts through its technology. While the rectangular Twenty~4 is only available as a quartz watch, the round version features an automatic movement. You can also decide whether you want a rose gold or stainless steel case, and whether you want diamonds. As of early 2024, you'll need to set aside between 10,800 and 353,000 USD for one of these timepieces, depending on the version.

The Twenty~4 ref. 4910/1201R was released in April 2024. Patek Philippe presented the watch on the occasion of the 25th anniversary of the collection. The case and bracelet of this version are made of rose gold. The violet dial, which also has a reflective decoration, is striking. The watch is set with a total of 34 brilliant-cut diamonds weighing a total of 0.63 carats. The quartz caliber E 15 powers the watch. Patek Philippe's official MSRP is 47,610 USD.

The Many Shapes of the Patek Philippe Gondolo

The Gondolo collection is marked by its Art Deco design principle and interesting shapes. Whether it's cushion-shaped, rectangular, barrel-shaped, or a subtle combination of the three, this collection has something for everyone. Patek produces these watches exclusively in gold, which the manufacturer then artfully combines with diamonds and pearls. Most get their power from manual calibers, though some feature a quartz movement. Prices for vintage timepieces from the 1970s begin around 7,000 USD. Prices for simpler models from the current collection run between 27,000 and 43,500 USD. More intricate timepieces with diamonds and pearls can easily demand princely sums of 200,00 USD or more.

Patek Philippe is best known for mechanical watches made with in-house movements. Their calibers have a few special features. In 1949, the company patented the "Gyromax," a special type of balance wheel that is still in use today. While regular balance wheels use weight adjustment screws on the side of their rims, the Gyromax features adjustable weights that sit on top of the wheel. Therefore, it has a greater moment of inertia, resulting in increased precision.

Patek Philippe has been using the material Silinvar in their escapements since 2005. Similar to silicon, it's anti-magnetic and extremely hard. Due to this hardness, there is less friction in the movement, and it doesn't require lubrication. The manufacturer presented the first balance spring made from this high-tech material in 2006.

Over the years, Patek Philippe has continued to cut its ties to third-party suppliers. In 2005, the company introduced their first in-house chronograph caliber. As of 2012, they produce all their chronograph movements in-house. Before that, they had used movements from other manufacturers. The first Nautilus, for example, was powered by a caliber based on the 920 from Jaeger-LeCoultre. Audemars Piguet used this movement for the first Royal Oak as well, as did Vacheron Constantin for the 222. Valjoux and Lemania also used to supply Patek Philippe with movements.

In 2009, Patek Philippe introduced and began using their own seal, which marks a watch passing the world's most demanding quality test for mechanical timepieces. They had previously used the Geneva Seal, which has been a sign of high-quality watches from that canton since 1886. A significant difference between the two is that the new testing methods are for the entire, finished watch. According to the old Geneva Seal rules, separate movements could receive certificates.

Patek Philippe also offers watches with quartz movements. The manufacturer even invented the first solid-state quartz watch with no moving parts and had it patented in 1959.

In 1839, Polish watchmaker and emigrant Antoni Patek (1812-1877) began producing pocket watches in Geneva. In 1845, he combined forces with his French colleague Adrien Philippe (1815-1894). Philippe's father had been a watchmaker and taught his son the craft. In 1844, Philippe unveiled an invention to the world of watches that is ubiquitous today: the crown. Before this, movements were usually wound using a key, much like many larger clocks today. The company has existed under the name Patek Philippe since 1851.

The two business partners participated in the Great Exhibition of 1851 in London, where Queen Victoria purchased two watches: one for herself and one for Prince Albert. Danish and Italian royalty also joined their list of distinguished clientele. In addition, a partnership with the New York jeweler Tiffany & Co. began during a trip to the United States when the American retailer ordered 130 watches.

From there, the company hit one milestone after another. In 1902, Patek Philippe patented the first double chronograph, and in 1925, they introduced the first wristwatch with a perpetual calendar. In 1932, the Stern family took over the business, and it remains in their hands to this day. Thierry Stern has been leading the company since 2010. Patek Philippe produces around 68,000 watches per year.

A Rivalry Between Watch Collectors

Patek Philippe has always defined themselves by their excellence. In 1933, after three years of development and five years of manufacturing, the Henry Graves Supercomplication, an 18-karat gold timepiece, was finally completed. Banker Henry Graves Jr. had commissioned the watch to outdo the pocket watches commissioned by automaker James Ward Packard. Packard owned a dozen complicated Patek Philippe timepieces, which he had collected over the course of 25 years.

Graves and Packard were two of the leading watch collectors of their time and had an ongoing rivalry that the Supercomplication put to an end. The watch is composed of 920 individual components and has 24 impressive complications. These include a perpetual calendar, Westminster Quarters, the sunrise and sunset time, and a view of the starry sky over New York City from Graves' Fifth Avenue apartment. In November 2014, the pocket watch sold for a record price of 24 million USD at auction. Graves initially paid 60,000 CHF when he commissioned the watch, which is equal to about 200,000 USD today. The Supercomplication is the most complicated watch ever built without computer assistance. In 1989, Patek Philippe celebrated their 150th anniversary by unveiling the Calibre 89 pocket watch, which, with 33 complications and 1,728 components, outdoes even the Supercomplication.

In November 2016, Patek Philippe broke another record: A watch with the reference number 1518 sold at auction for over 11 million USD. At the time, it was the highest price ever paid for a wristwatch. This precious timepiece is a stainless steel chronograph with a perpetual calendar. Then, on November 9, 2019, at a charity auction, the Patek Philippe Grandmaster Chime ref. 6300A-010 in stainless steel was sold to an unknown bidder for the record hammer price of 31 million USD. It is thus one of the most expensive watches in the world.