Patek Philippe is a brand that has earned itself a global reputation of prestige and luxury. Boasting some of the most exquisite timepieces in the watchmaking industry, in terms of both aesthetics and mechanics, Patek Philippe watches are highly sought after and super sophisticated. Founded in Geneva in 1839, the Swiss watchmaker is one of the oldest in the world, with a rich history and grand heritage. With nearly 200 years behind it, there are plenty of facts about Patek Philippe watches, and there may be some little tidbits of information that may surprise you.
- Patek Philippe – Family-owned Since 1932
- The First Wristwatch for Women
- Exclusive Supplier to Royalty
- Perpetual Calendar Innovation
- World Record for Most Expensive Watch
- Henry Graves Supercomplication
- Albert Einstein
- Patek Philippe Nautilus
- Geneva Seal
- Exclusive and Rare
- You Never Actually Own a Patek Philippe
- Patek Philippe Museum
- Facts About Patek Philippe Watches FAQ
Patek Philippe – Family-owned Since 1932
In 1839, Swiss watchmaker Patek Philippe was founded in Geneva by Antoni Patek and Franciszek Czapek under the name Patek, Czapek, and Cie. After separating, Patek joined forces with the French watchmaker Adrien Philippe, changing the name to Patek, Philippe, and Cie in 1851. However, since 1932, the Stern family has owned the brand. The Stern Family had a business partnership with the brand, supplying watch dials to the manufacturer. They acquired the company during The Great Depression, and it has remained in the Stern Family ever since, making Patek Philippe one of the few remaining independent, family-owned Swiss watchmakers and the very last based in Geneva. The business was rebranded to Patek Philippe when it was introduced to the American market in 1935.
The First Wristwatch for Women
Although there is much debate about the first wristwatch for women, the Guiness Book of World Records attributes it to Patek Philippe. In 1868, Patek Philippe crafted a wristwatch for the Countess Koscowicz of Hungary. Originally intended to be a piece of jewelry, this wristwatch marked the start of timepieces being viewed as accessories as well as a functional tool. Even though there are other accounts and historical evidence to suggest that this wristwatch was not the very first women’s wristwatch, it was the first ladies’ complicated wristwatch with a five-minute repeater ever produced.
Exclusive Supplier to Royalty
Regarded as ‘the Queen’s watchmaker’, Patek Philippe was the exclusive supplier to Queen Victoria, Prince Albert and their consort. At the Great Exhibition in 1851, the Queen of England was one of the first to admire the world’s first keyless watches. The exhibition was held at the Crystal Palace in London’s Hyde Park for 141 days, attracting more than five millions visitors. Many timepieces were showcased at the exhibition but it was Patek Philippe that caught the eyes of Royalty. Two months into the exhibition, Queen Elizabeth purchased the timepiece on November 30, 1851, an azure blue pendant watch decorated with diamonds known as No. 4710. This timepiece is now housed at the Patek Philippe Museum in Geneva but according to archives, it was not the first Patek Philippe that the Queen owned. Following her high-profile purchase, Royalty across the world approached Patek Philippe to commission timepieces. Patek Philippe is still popular with Royalty to this day with the late Queen Elizabeth II regularly photographed wearing Pateks and King Charles III also spotted wearing Patek Philippe.
Perpetual Calendar Innovation
Patek Philippe is credited with developing the first perpetual calendar wristwatch in 1925. Originally developed in 1898, the complication was first housed in a pendant watch that never sold and was eventually rehoused in a wristwatch, released into the world 27 years later. This complication accounts for leap years, months with differing dates and never needs manual adjustment, a major milestone in the watchmaking industry and impressive for its time. This complication was dubbed ‘the grandest of grand complications’ and was an instant hit with collectors. Over the years, Patek Philippe continued to develop their perpetual calendars, launching the first retrograde perpetual calendar in 1937, tracking multiple aspects of time. Patek Philippe continued to experiment with interesting versions of perpetual calendars, including being the first brand to release a self-winding perpetual calendar, a range that became one of Patek Philippe’s most iconic collections.
World Record for Most Expensive Watch
Patek Philippe is renowned for having a high resale value, making them phenomenal investment pieces. In 2019, the Patek Philippe Grandmaster Chime Ref. 6300A-010 sold for a record-breaking $31 million at auction, becoming the most expensive wristwatch ever sold. The timepiece is a one-of-a-kind watch created exclusively for the Only Watch Charity Auction in Geneva. It is the only Grandmaster Chime ever produced in steel, a material rarely used by Patek Philippe for Grand Complications. Featuring 20 complications, it is also considered to be one of the most complicated watches Patek Philippe has ever produced. This adds to the timepieces’ rarity, exclusivity, and value with the watch inscribed with ‘The Only One.’
Henry Graves Supercomplication
In 1933, Patek Philippe created the Henry Graves Supercomplication, a pocket watch with 24 complications, which was the most complicated watch in the world at the time. Commissioned by banker Henry Graves Jr., it is said that the watch was conceived out of pure competition with an American watch collector, a rivalry that is likely to be purely fabricated. It took three years to design and a further five to manufacture. This stunning timepiece is made with 18-karat gold and features a breathtaking celestial map of New York.
Albert Einstein
Albert Einstein was a passionate watch collector and in 1915, he ordered a timepiece from Patek Philippe. Einstein was a huge Longines collector and one of the watches owned by Einstein holds the record for the most expensive Longines ever sold. However, next to his Longines collection, he also owned a Patek Philippe gold pocket watch. In the same year he received the pocket watch, Einstein completed the Theory of General Relativity.
Patek Philippe Nautilus
Launched in 1976, the Nautilus remains one of the brand’s most iconic sports models. Designed by legendary watchmaker Gérald Genta, its distinctive porthole-inspired design with an octagonal bezel and integrated bracelet set it apart from any competition in the watch world. The Nautilus was Patek Philippe’s response to the growing demand for luxury steel sports watches and quickly became a symbol of casual elegance. It has become one of the brand’s most sought-after models, known for its durability, water resistance, and beautiful design. Available in steel and gold, boasting complications like chronographs and moon phases, the Nautilus has received many makeovers over the years but remains the brand’s bestseller.
Geneva Seal
Many Patek Philippe timepieces bear the prestigious Geneva Seal, a hallmark that guarantees the highest level of craftsmanship and precision. The Geneva Seal certifies excellence and ensures the highest standards of craftsmanship and quality for watches made in Geneva. As one of the most renowned Swiss watch brands, Patek Philippe has historically been associated with the Geneva Seal, reflecting the brand’s commitment to precision, durability, and fine finishing. Watches bearing this seal undergo rigorous testing for movement construction, aesthetics, and accuracy. While Patek Philippe introduced its own Patek Philippe Seal in 2009, the Geneva Seal remains a symbol of the brand’s legacy of horological excellence.
Exclusive and Rare
Patek Philippe has one of the most exclusive collections in the Swiss watch industry. The brand produces less than 60,000 timepieces each year, and it is said that no more than a million have been released since 1939. The brand intentionally limits the number of watches it produces to maintain its reputation and the value of its timepieces. With each timepiece finished by hand, the quality is unrivaled and adds to the exclusivity of the brand.
You Never Actually Own a Patek Philippe
For almost 30 years, Patek Philippe has marketed the brand with the slogan, ‘You never actually own a Patek Philippe, you merely look after it for the next generation.’ The slogan was first introduced in 1996, and while there is some controversy and differing opinions about the use of this phrase, it has been extremely successful in attracting new investors. Marketing the timepieces as heirlooms that will stand the test of time illustrates the prestige and quality of Patek Philippe watches. There is a sense of ownership pride with the guarantee that your investment is secure, whether you choose to resell at a later date or keep it within the family for generations. Patek Philippe has had one of the most successful marketing campaigns of all time, with a slogan that has lived on for decades.
Patek Philippe Museum
In 2001, the Patek Philippe Museum was opened in Geneva, housing one of the world’s largest collections of timepieces and horological artifacts. Patek Philippe has a commitment to preserving its heritage and maintains an archive of all watches it has ever produced, dating all the way back to the 19th century. Patek Philippe produces fewer than 60,000 watches a year, which adds to the exclusivity and value of their timepieces, and these limited edition pieces are all documented within the museum. Visitors can explore the evolution of watchmaking through more than five centuries of craftsmanship, including unique, rare, and historically significant watches. The museum also highlights the brand’s technical innovations, highlighting why Patek Philippe remains one of the most prestigious names in luxury watchmaking to this day.
