A Guide to Patek Philippe Watches
Patek Philippe watches are designed and expected to become a precious heirloom
05/12/2025
Patek Philippe, founded by Polish watchmaker Antoni Patek and French horologist Adrien Philippe in 1839, is one of the oldest and most prestigious Swiss watch manufacturers in the world, famous for its commitment to innovation, precision, and exquisite craftsmanship. The firm was acquired by the Stern family in 1932 during the Great Depression and remains family-owned to this day, with around 400 retail locations worldwide. With production runs of tens of thousands per annum (compared to hundreds of thousands for a brand such as Rolex) maintains Patek’s exclusivity, and in turn, drives increased market demand and prices.
Patek Philippe Gentleman’s Platinum Calatrava Dress Watch
As a result, Patek Philippe has long attracted a distinguished clientele. Queen Victoria was among the brand's earliest Royal patrons, receiving a pendant watch from the Great Exhibition in London in 1851. In the modern era, the brand is feted by celebrities and influential personalities, including Brad Pitt, Jay Z, and LeBron James. High-profile associations only enhance Patek Philippe's reputation as a symbol of achievement, taste, and enduring legacy. Described, as “the watch you never actually own - you merely look after it for the next generation…" Patek Philippe watches are designed and expected to become a precious heirloom, transcending the wearer.
An elusive double-signed Beyer dial Patek Philippe Nautilus
Patek Philippe's extensive catalogue boasts many celebrated models, including the Calatrava, designed by David Penny in 1932 and now one of the brand's flagship models, with its understated, classic elegance. A more modern collection is Nautilus, introduced in 1976 as the brand sought to modernise its image whilst retaining its traditional values. Designed by Gerald Genta, who famously created the Royal Oak for Audemars Piguet, this sporty watch features a porthole-inspired case and an integrated bracelet.
Patek Philippe is famous for its technical mastery of complications, including perpetual calendars, minute repeaters, and split-second chronographs. Notable examples include the Reference 1518 (1941), the world's first serially produced perpetual calendar chronograph, and the Sky Moon Tourbillon, which requires an application for purchase and must be approved by the company owner, Thierry Stern.
A Patek Philippe Calatrava Black Dial Ref: 96
As a venerable brand, Patek Philippe celebrates anniversary milestones with limited-edition watches such as the Calibre 89, featuring 33 complications and an astonishing 1728 components. For its 175th anniversary, the company produced the Grandmaster Chime, one of which holds the record for the most expensive watch ever sold, when it achieved $31.19 million (31,000,000 CHF) at a Christie's auction in 2019.
It is not surprising that there is an enthusiastic resale market for Patek Philippe watches. Vintage and limited-edition pieces, particularly those with rare complications or provenance, frequently set records at auction. Even current models like the Nautilus Ref. 5711 consistently command resale prices above their original retail cost due to high demand and limited supply.
Should you be thinking of parting with your Patek Philippe watch, the team here at Dawsons Auctioneers can offer the guidance of trained experts who will market your piece to a global audience of known collectors, in order to secure the highest possible price for you.
Recent successes include a platinum gentleman's Calatrava dress watch, which sold for £19,000 (November 2025).
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