Many consider Patek Philippe watches to be the finest timepieces in the industry. Not only are Patek Philippe watches of the very highest quality, but they also, along with Rolex, hold their value better than any other brand in the industry. As a result, Patek Philippe owners who are interested in selling their watch can expect to receive a greater percentage of the watch’s original price than they would expect with any other watch brand. Pre-owned Patek Philippe watches keep their value extremely well due to many different factors.
One of the reasons that Patek Philippe watches are able to hold their value so well is because of their rarity. Patek Philippe typically only releases between 10 and a couple hundred pieces of each model. As a result, each Patek Philippe watch is quite rare, increasing the value of the watch. Because there are not many of each watch model, Patek Philippe watch owners can be viewed as members of an exclusive club. Since these watches give one a feeling of exclusivity, many watch enthusiasts are willing to pay higher prices for a Patek Philippe watch.
Since its founding in 1839, Patek Philippe watches have been revered as some of the finest and most exclusive watches in the industry. As a result, many famous and important figures have requested the services of Patek Philippe, requesting a custom made watch. Many Patek Philippe watches have also been made to commemorate special occasions. Because many of these watches have historical and personal significance, this increases their value.
The quality of Patek Philippe watches also plays a large role in the value of pre-owned Patek Philippe watches. Both the exterior and the interior movement of each Patek Philippe watch is hand crafted and assembled. Because these watches undergo rigorous testing and are crafted by the best talents in the industry, Patek Philippe watches maintain their high quality for several generations. Patek Philippe has over 80 patents and leads the industry in innovation and cutting edge achievements.
Patek Philippe watches have set many records at different auctions around the world, which attributes the value of pre-owned Patek Philippe watches. The most expensive watch ever sold is the Patek Philippe Henry Graves pocket watch that sold at a Sotheby’s auction for $11 million.
At a recent auction at Christie’s in November, 2013, a couple more Patek Philippe watches sold for record prices. A Patek Philippe 2499/100 watch that was owned by Hall of Fame guitarist Eric Clapton, was sold for $3.6 million, the highest price this reference number has ever reached at auction. This watch was platinum and featured a perpetual calendar chronograph with a moonphase.
Another Patek Philippe watch broke records at the same November Christie’s auction. A unique platinum Patek Philippe chronometer watch, referred to as the “J.B. Champion Platinum Observatory Chronometer,” sold for almost $4 million, a world record for a complication free watch at auction. The watch featured a Guillaume balance and a diamond set dial and was manufactured in 1952.
These are just a few examples of the incredible prices that Patek Philippe watches are selling for around the world. The reason that these auctions have an impact on the value of Patek Philippe watches is because people begin to have a higher perceived value of Patek Philippe watches. Also, watch enthusiasts often purchase Patek Philippe watches as investment pieces in the hopes that they will eventually be able to sell their Patek Philippe for more than the price they originally paid.
When Patek Philippe owners are ready to sell their watch, it is important to sell with someone who is experienced in serving, valuing, and selling Patek Philippe watches. The experts at Crown & Caliber are very experienced with Patek Philippe watches and can help Patek Philippe owners sell their watch for the highest possible value. Click here to request a quote for your Patek Philippe watch.