Patek Philippe SA is a
Swiss
Swiss may refer to:
* the adjectival form of Switzerland
*Swiss people
Places
* Swiss, Missouri
*Swiss, North Carolina
* Swiss, West Virginia
*Swiss, Wisconsin
Other uses
* Swiss-system tournament, in various games and sports
* Swiss Internation ...
luxury
watch
A watch is a portable timepiece intended to be carried or worn by a person. It is designed to keep a consistent movement despite the motions caused by the person's activities. A wristwatch is designed to be worn around the wrist, attached ...
and
clock
A clock or a timepiece is a device used to measure and indicate time. The clock is one of the oldest human inventions, meeting the need to measure intervals of time shorter than the natural units such as the day, the lunar month and ...
manufacturer
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to ...
, located in the
Canton of Geneva
The Canton of Geneva, officially the Republic and Canton of Geneva (french: link=no, République et canton de Genève; frp, Rèpublica et canton de Geneva; german: Republik und Kanton Genf; it, Repubblica e Cantone di Ginevra; rm, Republica e ...
and the
Vallée de Joux. Established in 1839, it is named after two of its founders,
Antoni Patek
Antoni Norbert Patek (french: link=no, Antoine Norbert de Patek; 14 June 1812 – 1 March 1877) was a Polish pioneer in watchmaking and the creator of the Patek Philippe & Co., one of Swiss watchmaker companies, and Polish independence fighter and ...
and
Adrien Philippe
Jean Adrien Philippe (April 16, 1815, La Bazoche-Gouet, Eure-et-Loir – January 5, 1894) was a French horologist and cofounder of watchmaker Patek Philippe & Co. of Geneva, Switzerland.
In 1842, Adrien Philippe invented a mechanism for watche ...
. Since 1932, the company has been owned by the Stern family in Switzerland
and remains the last family-owned independent watch manufacturer in Geneva.
Patek Philippe is one of the oldest watch manufacturers in the world with an uninterrupted watchmaking history since its founding. It designs and manufactures timepieces as well as
movements
Movement may refer to:
Common uses
* Movement (clockwork), the internal mechanism of a timepiece
* Motion, commonly referred to as movement
Arts, entertainment, and media
Literature
* "Movement" (short story), a short story by Nancy Fu ...
, including some of the most complicated
mechanical watch
A mechanical watch is a watch that uses a clockwork mechanism to measure the passage of time, as opposed to quartz watches which function using the vibration modes of a piezoelectric quartz tuning fork, or radio watches, which are quartz watc ...
es. The company maintains over 400 retail locations globally and over a dozen
distribution center
A distribution center for a set of products is a warehouse or other specialized building, often with refrigeration or air conditioning, which is stocked with products ( goods) to be redistributed to retailers, to wholesalers, or directly ...
s across
Asia
Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an are ...
,
Europe
Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...
,
North America
North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and th ...
, and
Oceania
Oceania (, , ) is a geographical region that includes Australasia, Melanesia, Micronesia, and Polynesia. Spanning the Eastern and Western hemispheres, Oceania is estimated to have a land area of and a population of around 44.5 million ...
. In 2001, it opened the Patek Philippe Museum in
Geneva
Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevra ; rm, Genevra is the second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaking part of Switzerland. Situa ...
.
Patek Philippe is widely considered to be one of the most prestigious watch manufacturers in the world.
Over the years, notable Patek Philippe patrons and timepiece owners include
Queen Victoria
Victoria (Alexandrina Victoria; 24 May 1819 – 22 January 1901) was Queen of the United Kingdom of Great Britain and Ireland from 20 June 1837 until her death in 1901. Her reign of 63 years and 216 days was longer than that of any previ ...
,
Queen Elizabeth II
Elizabeth II (Elizabeth Alexandra Mary; 21 April 1926 – 8 September 2022) was Queen of the United Kingdom and other Commonwealth realms from 6 February 1952 until her death in 2022. She was queen regnant of 32 sovereign states during ...
,
Princess Diana
Diana, Princess of Wales (born Diana Frances Spencer; 1 July 1961 – 31 August 1997) was a member of the British royal family. She was the first wife of King Charles III (then Prince of Wales) and mother of Princes William and Harry. Her ac ...
,
Pope Pius IX
Pope Pius IX ( it, Pio IX, ''Pio Nono''; born Giovanni Maria Mastai Ferretti; 13 May 1792 – 7 February 1878) was head of the Catholic Church from 1846 to 1878, the longest verified papal reign. He was notable for convoking the First Vatican ...
,
Marie Curie
Marie Salomea Skłodowska–Curie ( , , ; born Maria Salomea Skłodowska, ; 7 November 1867 – 4 July 1934) was a Polish and naturalized-French physicist and chemist who conducted pioneering research on radioactivity. She was the fir ...
,
Albert Einstein
Albert Einstein ( ; ; 14 March 1879 – 18 April 1955) was a German-born theoretical physicist, widely acknowledged to be one of the greatest and most influential physicists of all time. Einstein is best known for developing the theor ...
,
John F. Kennedy,
Nelson Mandela
Nelson Rolihlahla Mandela (; ; 18 July 1918 – 5 December 2013) was a South African anti-apartheid activist who served as the first president of South Africa from 1994 to 1999. He was the country's first black head of state and the ...
,
Pablo Picasso
Pablo Ruiz Picasso (25 October 1881 – 8 April 1973) was a Spanish painter, sculptor, printmaker, ceramicist and Scenic design, theatre designer who spent most of his adult life in France. One of the most influential artists of the 20th ce ...
,
Pyotr Tchaikovsky
Pyotr Ilyich Tchaikovsky , group=n ( ; 7 May 1840 – 6 November 1893) was a Russian composer of the Romantic period. He was the first Russian composer whose music would make a lasting impression internationally. He wrote some of the most popu ...
, and,
Leo Tolstoy
Count Lev Nikolayevich TolstoyTolstoy pronounced his first name as , which corresponds to the romanization ''Lyov''. () (; russian: link=no, Лев Николаевич Толстой,In Tolstoy's day, his name was written as in pre-refor ...
.
As of December 2020, among the world's top ten
most expensive watches ever sold at auctions, eight are Patek Philippe watches. In particular, Patek Philippe Grandmaster Chime Ref. 6300A-010 currently holds the title of the most expensive watch (and wristwatch) ever sold at auction (US$31.19 million/31 million
CHF), while
Patek Philippe Henry Graves Supercomplication
The Patek Philippe Henry Graves Supercomplication (no. 198.385) is one of the most complicated mechanical pocket watches ever created. The 18-karat gold watch has 24 complications and was assembled by Patek Philippe. It was named after banker ...
, the world's most complicated mechanical watch until 1989, currently holds the title of the most expensive ''
pocket watch
A pocket watch (or pocketwatch) is a watch that is made to be carried in a pocket, as opposed to a wristwatch, which is strapped to the wrist.
They were the most common type of watch from their development in the 16th century until wristwa ...
'' ever sold at auction (US$24 million/23,237,000
CHF).
History
Early history
The company traces its origins to the mid-19th century, when
Polish watchmaker
Antoni Patek
Antoni Norbert Patek (french: link=no, Antoine Norbert de Patek; 14 June 1812 – 1 March 1877) was a Polish pioneer in watchmaking and the creator of the Patek Philippe & Co., one of Swiss watchmaker companies, and Polish independence fighter and ...
along with his
Czech
Czech may refer to:
* Anything from or related to the Czech Republic, a country in Europe
** Czech language
** Czechs, the people of the area
** Czech culture
** Czech cuisine
* One of three mythical brothers, Lech, Czech, and Rus'
Places
* Czech, ...
-born Polish partner
Franciszek Czapek
Czapek & Cie. is a manufacturer of fine Swiss watches founded in 1845 in Geneva.Tellier, Arnaud, & Didier Chaponnière, Mélanie, ''Timepieces for Royalty'', 1850–1910, by ''Patek Philippe'', Geneva, Patek Philippe Museum, 2005 (192 pp.) It is ...
formed ''Patek, Czapek & Cie'' in
Geneva
Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevra ; rm, Genevra is the second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaking part of Switzerland. Situa ...
on 1 May 1839 and started manufacturing
pocket watch
A pocket watch (or pocketwatch) is a watch that is made to be carried in a pocket, as opposed to a wristwatch, which is strapped to the wrist.
They were the most common type of watch from their development in the 16th century until wristwa ...
es.
The two eventually separated due to disagreements and the company was
liquidated
Liquidation is the process in accounting by which a company is brought to an end in Canada, United Kingdom, United States, Ireland, Australia, New Zealand, Italy, and many other countries. The assets and property of the company are re ...
on 18 April 1845.
On 1 May 1845, Czapek founded ''
Czapek & Cie
Czapek & Cie. is a manufacturer of fine Swiss watches founded in 1845 in Geneva.Tellier, Arnaud, & Didier Chaponnière, Mélanie, ''Timepieces for Royalty'', 1850–1910, by ''Patek Philippe'', Geneva, Patek Philippe Museum, 2005 (192 pp.) It is ...
'' with a new partner, Juliusz Gruzewski. Subsequently, Patek was joined by
French
French (french: français(e), link=no) may refer to:
* Something of, from, or related to France
** French language, which originated in France, and its various dialects and accents
** French people, a nation and ethnic group identified with Franc ...
watchmaker
Adrien Philippe
Jean Adrien Philippe (April 16, 1815, La Bazoche-Gouet, Eure-et-Loir – January 5, 1894) was a French horologist and cofounder of watchmaker Patek Philippe & Co. of Geneva, Switzerland.
In 1842, Adrien Philippe invented a mechanism for watche ...
, the inventor of the keyless winding mechanism (although this has been discovered previously by
Abraham Louis Breguet
Abraham-Louis Breguet (10 January 1747 – 17 September 1823), born in Neuchâtel, then a Prussian principality, was a horologist who made many innovations in the course of a career in watchmaking industry. He was the founder of the Breguet ...
but not patented by him), and continued the watchmaking business with a new company, ''Patek & Cie,'' beginning on 15 May 1845''.''
On 1 January 1851, the company's name was officially changed to ''Patek, Philippe & Cie''.
In the same year,
Queen Victoria
Victoria (Alexandrina Victoria; 24 May 1819 – 22 January 1901) was Queen of the United Kingdom of Great Britain and Ireland from 20 June 1837 until her death in 1901. Her reign of 63 years and 216 days was longer than that of any previ ...
of the United Kingdom acquired a keyless pendant watch at the
Great Exhibition
The Great Exhibition of the Works of Industry of All Nations, also known as the Great Exhibition or the Crystal Palace Exhibition (in reference to the temporary structure in which it was held), was an international exhibition which took pl ...
in
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
.
The watch was embellished with rose-cut diamonds set in the pattern of a bouquet of flowers.
The Queen had another exclusive Patek Philippe timepiece, to be worn pinned to clothing. This watch was suspended from a
diamond
Diamond is a solid form of the element carbon with its atoms arranged in a crystal structure called diamond cubic. Another solid form of carbon known as graphite is the chemically stable form of carbon at room temperature and pressure, b ...
and enamel
brooch
A brooch (, also ) is a decorative jewelry item designed to be attached to garments, often to fasten them together. It is usually made of metal, often silver or gold or some other material. Brooches are frequently decorated with enamel or with g ...
.
[Cf]
Patek Philippe website official history timeline
/ref>
Geneva : Patek Philippe Museum, 2005. In 1868, Patek Philippe created the first Swiss wristwatch
A watch is a portable timepiece intended to be carried or worn by a person. It is designed to keep a consistent movement despite the motions caused by the person's activities. A wristwatch is designed to be worn around the wrist, attached ...
for Countess Koscowicz of Hungary
Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Cr ...
.
In March 1877, Antoni Patek died at the age of 65, but his only son, Léon Mecyslas Vincent, did not join the business. As a result, Joseph Antoine Bénassy-Philippe, one of Adrien Philippe's sons-in-law, succeeded Antoni Patek's position. In 1887, '' Calatrava Cross'' became the registered company logo of Patek Philippe. In 1891, the 76-year-old Adrien Philippe handed over his position in the business to his youngest son Joseph Emile Philippe, together with Francois Antoine Conty. Adrien Philippe died in January 1894.
Company restructuring
1901 saw the transformation of Patek Philippe into a joint-stock company
A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders a ...
, ''Ancienne Manufacture d'horlogerie Patek, Philippe & Cie, Société Anonyme,'' initiated by J. A. Bénassy-Philippe and Joseph E. Philippe. Still being run as a family business, Patek Philippe then had seven shareholders, five of whom formed the board of directors with J. A. Bénassy-Philippe being the chairman. Joseph E. Philippe's son later joined the company, and he was the last offspring of the founders in the business. In 1915, Albert Einstein
Albert Einstein ( ; ; 14 March 1879 – 18 April 1955) was a German-born theoretical physicist, widely acknowledged to be one of the greatest and most influential physicists of all time. Einstein is best known for developing the theor ...
ordered a gold pocket watch from Patek Philippe; in that year, he completed his Theory of General Relativity
General relativity, also known as the general theory of relativity and Einstein's theory of gravity, is the geometric theory of gravitation published by Albert Einstein in 1915 and is the current description of gravitation in modern physics. G ...
.
The Swiss Stern family has owned Patek Philippe since 1932 when Charles Stern and Jean Stern acquired the company during the Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...
. The Stern brothers' company, ''Fabrique de Cadrans Sterns Frères'', had been a business partner of Patek Philippe as its supplier of watch dials. In 1935, Patek Philippe was brought to American markets by New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
-based ''Henri Stern Watch Agency'', where it was sold as a sister brand alongside Universal Genève
Universal Genève SA is a Swiss Made, Swiss Luxury goods, luxury watch company, founded in 1894 as Universal Watch. Since its beginnings, the company has produced complete watches with in-house movements, and throughout the 20th century, distribut ...
.
In 1958, Henri Stern, the son of Charles Stern, became the president of Patek Philippe. Alan Banbery, who previously designed Universal's "Compax" movements and worked as a horologist for London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
's Garrard & Co
Garrard & Co. Limited, formerly Asprey & Garrard Limited, designs and manufactures luxury jewellery and silver. George Wickes founded Garrard in London in 1735 and the brand is headquartered at Albemarle Street in Mayfair, London. Garrard also ...
, would take on the position of Director of Sales in 1965 and later authored official reference books on vintage Patek Philippe pocket watch
A pocket watch (or pocketwatch) is a watch that is made to be carried in a pocket, as opposed to a wristwatch, which is strapped to the wrist.
They were the most common type of watch from their development in the 16th century until wristwa ...
es and chronograph
A chronograph is a specific type of watch that is used as a stopwatch combined with a display watch. A basic chronograph has an independent sweep second hand and a minute sub-dial; it can be started, stopped, and returned to zero by successiv ...
s.
Recent development
In 1993, Philippe Stern, the son of Henry Stern, became the president of the company. He initiated the publication of the twice-a-year ''Patek Philippe Magazine'' in 1996, which is reserved for the watch owners and has received contributions from various prominent writers including Nobel Laureates
The Nobel Prizes ( sv, Nobelpriset, no, Nobelprisen) are awarded annually by the Royal Swedish Academy of Sciences, the Swedish Academy, the Karolinska Institutet, and the Norwegian Nobel Committee to individuals and organizations who make ou ...
Gao Xingjian and José Saramago
José de Sousa Saramago, GColSE ComSE GColCa (; 16 November 1922 – 18 June 2010), was a Portuguese writer and recipient of the 1998 Nobel Prize in Literature for his "parables sustained by imagination, compassion and irony ith which hecon ...
. And in 2009, Philippe Stern's son, Thierry Stern, took over the reins from his father. In 2010, the company produced 40,000 timepieces and, according to Thierry Stern, it produced 58,000 pieces in 2017.KPMG
KPMG International Limited (or simply KPMG) is a multinational professional services network, and one of the Big Four accounting organizations.
Headquartered in Amstelveen, Netherlands, although incorporated in London, England, KPMG is a net ...
"Standing the Test of Time"
pp.16-18, in ''Consumer Currents'', Issue 5, 2008, KPMG International
KPMG International Limited (or simply KPMG) is a multinational professional services network, and one of the Big Four accounting organizations.
Headquartered in Amstelveen, Netherlands, although incorporated in London, England, KPMG is a netw ...
In 2018, the number went up to 62,000, and in order to maintain quality and exclusivity, Patek Philippe would only slowly increase the number of timepieces produced each year (by 1-3 percent per year) but with a ceiling. Currently, the company is an active member of the Federation of the Swiss Watch Industry FH
The Federation of the Swiss Watch Industry (FH) is the Swiss watch industry's leading trade association, headquartered in Bienne, Switzerland. The Federation is a private, professional and non-profit association.
The Federation of the Swiss Watc ...
.
Since 2000s, Patek Philippe timepieces have repeatedly fetched high prices in auctions worldwide. As of 2018, among the world's top ten most expensive watches ever sold at auctions, seven are Patek Philippe watches. Among the top 58 most expensive watches sold at auction (over 2 million US dollars), 46 are Patek Philippe watches. A small part of the demand for auction pieces is driven by Patek Philippe themselves, as they are purchasing in the auction market to add to the collection of the Patek Philippe Museum in Geneva.[Clerizo, Michael]
"Watch Auctions: Time-Honored: With their mystique, brands like Patek Philippe can command hundreds of thousands of dollars at watch auctions"
''The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...
'', April 29, 2010[Frank, Robert]
"All That Glitters May Not Be Gold"
''The Wall Street Journal'', October 8, 2007
Motto and slogan
One of Patek Philippe's company slogans is "You never actually own a Patek Philippe. You merely look after it for the next generation." The slogan was introduced when the company launched its "Generations" campaign in 1996.
Watch manufacturing
Patek Philippe manufactures its own watch components. Like other Swiss manufacturers, the company produces mostly mechanical movements with automatic or manual winding mechanism, but has also been producing quartz watch
Quartz is a hard, crystalline mineral composed of silica ( silicon dioxide). The atoms are linked in a continuous framework of SiO4 silicon-oxygen tetrahedra, with each oxygen being shared between two tetrahedra, giving an overall chemical fo ...
es. In fact, Patek Philippe was one of the twenty Swiss watch companies that founded the '' Centre Electronique Horloger'' and collaboratively developed the first Swiss quartz movements, such as the Beta 21 movement (1969) which was used by several manufacturers in their watches. In 1950s, the company even produced a prototype for a mechanical digital wristwatch, Ref. 3414.
Patek Philippe popularized complications such as perpetual calendar
A perpetual calendar is a calendar valid for many years, usually designed to look up the day of the week for a given date in the past or future.
For the Gregorian and Julian calendars, a perpetual calendar typically consists of one of three ...
, split-seconds hand, chronograph
A chronograph is a specific type of watch that is used as a stopwatch combined with a display watch. A basic chronograph has an independent sweep second hand and a minute sub-dial; it can be started, stopped, and returned to zero by successiv ...
, and minute repeater
A repeater is a complication in a mechanical watch or clock that chimes the hours and often minutes at the press of a button. There are many types of repeater, from the simple repeater which merely strikes the number of hours, to the minute rep ...
in mechanical watches. In 2009, the company announced that all of its future mechanical timepieces would be imprinted with the ''Patek Philippe Seal'' which requires a precision of -3/+2 seconds per day for diameters no less than 20 mm and -5/+4 seconds per day for diameters less than 20 mm, surpassing the highest industry standard of watch manufacturing and thus abandoning the ''Geneva Seal.''
In December 2018, World Wide Fund for Nature
The World Wide Fund for Nature Inc. (WWF) is an international non-governmental organization founded in 1961 that works in the field of wilderness preservation and the reduction of human impact on the environment. It was formerly named the W ...
(WWF) released a report assigning environmental ratings for 15 major watch manufacturers and jewelers in Switzerland. Patek Philippe was given the lowest environmental rating as "Latecomers/Non-transparent", suggesting the manufacturer has taken few actions addressing the impact of its manufacturing activities on the environment and climate change.
Notable inventions and patents
Patek Philippe has invented over 20 basic calibres and has received over 100 patents. The following are some of the important contributions from Patek Philippe to the watchmaking industry.
*In 1845, patented keyless winding and hand-setting system, which received a bronze medal at the 1844 Industrial Exposition in Paris.
* In 1868, created the first Swiss wristwatch
A watch is a portable timepiece intended to be carried or worn by a person. It is designed to keep a consistent movement despite the motions caused by the person's activities. A wristwatch is designed to be worn around the wrist, attached ...
.
* In 1881, patented its precision regulator.
* In 1889, patented perpetual calendar
A perpetual calendar is a calendar valid for many years, usually designed to look up the day of the week for a given date in the past or future.
For the Gregorian and Julian calendars, a perpetual calendar typically consists of one of three ...
mechanism for pocket watches.
*In 1902, patented double chronograph
Double chronograph is a watch that includes two distinct stopwatch mechanisms in order to measure two separate events concurrently and/or comparatively. It is often confused with the flyback chronograph.
Other names
* Rattrapante chronograph (f ...
.
*In 1916, produced the world's first lady’s wristwatch with complication (No. 174 603, a five-minute repeater
In telecommunications, a repeater is an electronic device that receives a signal and retransmits it. Repeaters are used to extend transmissions so that the signal can cover longer distances or be received on the other side of an obstruction. Som ...
).
*In 1923, launched the world's first split-second chronograph wristwatch (No. 124 8244).
*In 1925, created the world's first perpetual calendar wristwatch (No. 97 975), with a compact movement for pendant watches created in 1898.
*In 1933, created the Henry Graves Supercomplication, the most complicated mechanical watch in the world (24 complications) until 1989.
*In 1949, patented the '' Gyromax'' balance
Balance or balancing may refer to:
Common meanings
* Balance (ability) in biomechanics
* Balance (accounting)
* Balance or weighing scale
* Balance as in equality or equilibrium
Arts and entertainment Film
* ''Balance'' (1983 film), a Bulgaria ...
.
*In 1956, created the world's first all-electronic clock which, in 1958, received the "Award for Miniaturization
Miniaturization ( Br.Eng.: ''Miniaturisation'') is the trend to manufacture ever smaller mechanical, optical and electronic products and devices. Examples include miniaturization of mobile phones, computers and vehicle engine downsizing. In el ...
” in New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
.
*In 1962, a tourbillon
In horology, a tourbillon (; " whirlwind") is an addition to the mechanics of a watch escapement to increase accuracy. It was developed around 1795 and patented by the Swiss-French watchmaker Abraham-Louis Breguet on June 26, 1801. In a tourb ...
movement achieves the world's still-unbeaten timekeeping precision record for mechanical watches at Geneva Observatory
The Geneva Observatory (french: Observatoire de Genève, german: Observatorium von Genf) is an astronomical observatory at Sauverny (CH) in the municipality of Versoix, Canton of Geneva, in Switzerland. It shares its buildings with the astronomy d ...
.
*In 1986, patented the secular perpetual calendar with retrograde date indication.
*In 1989, created the Calibre 89, the most complicated mechanical watch in the world (33 complications) until 2015.
* In 1996, patented annual calendar
An annual calendar is a representation of the year that expires with the year represented, or that must be altered annually to remain current. The term takes different but related meanings across two contexts. One is for static (synchronic) calend ...
mechanism and introduced the first annual calendar model Ref. 5035.
* In 2003/05, launched the annual calendar Ref. 5250, being the world's first watch with silicon
Silicon is a chemical element with the symbol Si and atomic number 14. It is a hard, brittle crystalline solid with a blue-grey metallic luster, and is a tetravalent metalloid and semiconductor. It is a member of group 14 in the periodic ...
-based (the ''Silinvar'' alloy'')'' escapement wheel.
*In 2006, introduced the silicon-based ''Spiromax'' balance spring
A balance spring, or hairspring, is a spring attached to the balance wheel in mechanical timepieces. It causes the balance wheel to oscillate with a resonant frequency when the timepiece is running, which controls the speed at which the wheels of ...
.
*In 2008, introduced the ''Pulsomax'' silicon-based escapement
An escapement is a mechanical linkage in mechanical watches and clocks that gives impulses to the timekeeping element and periodically releases the gear train to move forward, advancing the clock's hands. The impulse action transfers energy ...
.
*In 2011, introduced the ''Oscillomax'' ensemble, combining the ''Spiromax'' balance spring, the ''Pulsomax'' escapement, and the ''GyromaxSi'' balance.
*In 2014, created the Grandmaster Chime Ref. 5175, one of the world's most complicated wristwatches (20 complications).
Notable models
Most expensive pieces
* On November 28, 2012, the Patek Philippe Star Calibre 2000 Ref. 990/1 was sold at Christie's
Christie's is a British auction house founded in 1766 by James Christie. Its main premises are on King Street, St James's in London, at Rockefeller Center in New York City and at Alexandra House in Hong Kong. It is owned by Groupe Artémi ...
in Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...
for a final price of 3.28 million US dollars ( HKD 25,300,000), becoming the most expensive timepiece ever auctioned in Asia
Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an are ...
. The timepiece boasts 21 complications, including Westminster Chimes
The Westminster Quarters, from its use at the Palace of Westminster, is a melody used by a set of four quarter bells to mark each quarter-hour. It is also known as the Westminster Chimes, Cambridge Quarters or Cambridge Chimes from its place of ...
, minute repeating, lunar orbit and so on, and was made in 2008.
* On November 11, 2014, the Henry Graves Supercomplication was sold at Sotheby's
Sotheby's () is a British-founded American multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, an ...
Geneva Auction for a record-breaking US$23.98 million ( CHF 23,237,000), becoming the most expensive watch ever sold at auction and held the title until November 9, 2019. The Supercomplication was made in 1933 for the prominent banker Henry Graves Jr. The ultra- complicated pocket watch (having 24 complications) was the result of Graves' friendly horological competition with James Ward Packard. After Graves' death, the watch was held by his daughter, and then by his grandson until 1969, when it was sold to Seth G. Atwood who kept the watch in his renowned " Time Museum" in Rockford, Illinois
Rockford is a city in Winnebago County, Illinois, located in the far northern part of the state. Situated on the banks of the Rock River, Rockford is the county seat of Winnebago County (a small portion of the city is located in Ogle County). ...
until 1999. The watch was auctioned for the first time at Sotheby's
Sotheby's () is a British-founded American multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, an ...
in December 1999 for a record-breaking US$11 million to Sheikh Saud Bin Mohammed Bin Ali Al-Thani of the Qatar
Qatar (, ; ar, قطر, Qaṭar ; local vernacular pronunciation: ), officially the State of Qatar,) is a country in Western Asia. It occupies the Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it sh ...
i royal family.
* On November 12, 2016, a Patek Philippe Ref. 1518 in steel took the title as the most expensive ''wristwatch'' ever sold at auction (until October 2017). Sold through Phillips' Geneva auction house, the watch fetched a final price of US$11.14 million (CHF 11,002,000).["Most Expensive Wrist Watch Ever Sold? Patek Philippe Ref. 1518"](_blank)
''Twentytwoten.com'', News, 12 Nov 2016 This was the first time that a steel-case Ref. 1518 (only four were made in steel) went for auction; in fact, this piece was the first of the four steel Ref.1518 manufactured, which features a chronograph
A chronograph is a specific type of watch that is used as a stopwatch combined with a display watch. A basic chronograph has an independent sweep second hand and a minute sub-dial; it can be started, stopped, and returned to zero by successiv ...
and perpetual calendar
A perpetual calendar is a calendar valid for many years, usually designed to look up the day of the week for a given date in the past or future.
For the Gregorian and Julian calendars, a perpetual calendar typically consists of one of three ...
.
*On November 9, 2019, Patek Philippe Grandmaster Chime Ref. 6300A-010 became the most expensive watch ever sold at auction, fetching US$31 million ( CHF 31,000,000) in Christie's Geneva auction.
*On December 11, 2021, Patek Philippe Nautilus ref. 5711 with Tiffany blue dial sets a new world record for any wristwatch sold online, realizing US$6.5 million in Phillips New York auction.
Calatrava wristwatch
In 1932, Patek Philippe launched the first Calatrava model Ref. 96, which was designed by English horologist David Penney who was influenced by the Bauhaus
The Staatliches Bauhaus (), commonly known as the Bauhaus (), was a German art school operational from 1919 to 1933 that combined crafts and the fine arts.Oxford Dictionary of Art and Artists (Oxford: Oxford University Press, 4th edn., 20 ...
art movement in Germany. Originally, the Stern brothers, soon after they acquired Patek Philippe in 1932, introduced the Calatrava to help the company pass through the Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...
smoothly.
The original Calatrava Ref. 96 was in production for more than 40 years, and its successor models include Ref. 2526, Ref. 3520, Ref. 5196 and so on. Known for its simple and elegant design, the Calatrava wristwatch has been a flagship model of Patek Philippe since its introduction. Notably, the ''Calatrava Cross'' has been company's logo since 1887.
World Time wristwatch
Patek Philippe World Time (''Heures Universelles'') collection was introduced in 1939, with Ref.1415 being the first model. The "World Time" complication is able to show the time for all 24 time zone
A time zone is an area which observes a uniform standard time for legal, commercial and social purposes. Time zones tend to follow the boundaries between countries and their subdivisions instead of strictly following longitude, because it ...
s on the same watch and was invented by Swiss watchmaker Louis Cottier in 1931. Cottier's invention attracted several watchmaking companies, while Patek Philippe was the first company to introduce a series of World Time wristwatches after forging a partnership with Mr. Cottier. The successors to Ref. 1415 include Ref. 2523, Ref. 5230, Ref. 5531 (with minute repeater
A repeater is a complication in a mechanical watch or clock that chimes the hours and often minutes at the press of a button. There are many types of repeater, from the simple repeater which merely strikes the number of hours, to the minute rep ...
), and so on.
As of 2018, Patek Philippe World Time collection (Ref. 1415, Ref. 2523) holds 6 spots among the 58 world's most expensive watches sold at auction (over 2 million US dollars), with the world record being 4.027 million US dollars (6,603,500 CHF) made at Antiquorum
Antiquorum is an auctioneer of modern and vintage timepieces. Established in Geneva in 1974, Antiquorum was the first auction house to auction fine watches over the Internet in the 1990s.
The company was founded in Geneva in 1974 by Osvaldo Patriz ...
's Geneva auction on April 13, 2002.
Nautilus wristwatch
In 1976, Patek Philippe introduced the Nautilus collection after deciding it was time to produce an exclusive sport watch with finishes of the highest quality. The first model was Ref. 3700 and was made of steel. It was designed by Swiss watchmaker Gérald Genta
Gérald Charles Genta (1 May 1931 – 17 August 2011) was a Swiss watch designer and artist. He is known for his eponymous line of timepieces as well as his design work with other high-end watch manufacturers, including IWC, Omega SA, Universal ...
, who previously designed the Royal Oak collection for Audemars Piguet, and was released by Patek Philippe during the quartz crisis
The quartz crisis was the upheaval in the watchmaking industry caused by the advent of quartz watches in the 1970s and early 1980s, that largely replaced mechanical watches around the world. in the hope that it would help re-attract people's attention to high-end Swiss mechanical watches.
The Nautilus collection played a key role in Patek Philippe's overall marketing strategy as it had to refresh the brand image while perpetuating tradition. The target was represented by dynamic business managers of the new generations. The Nautilus wristwatch has become one of the most popular collections from Patek Philippe, and the Ref. 5711 & 5712 models, which the company introduced in 2006 to celebrate the 30th anniversary of the collection, are among the most popular models.
Perpetual calendar chronograph
Patek Philippe perpetual calendar
A perpetual calendar is a calendar valid for many years, usually designed to look up the day of the week for a given date in the past or future.
For the Gregorian and Julian calendars, a perpetual calendar typically consists of one of three ...
chronograph
A chronograph is a specific type of watch that is used as a stopwatch combined with a display watch. A basic chronograph has an independent sweep second hand and a minute sub-dial; it can be started, stopped, and returned to zero by successiv ...
was introduced in 1941, with Ref. 1518 being the first model. On November 12, 2016, a Ref. 1518 in steel became the most expensive wristwatch ever sold at auction (until October 2017), fetching a record-breaking US$11.14 million (11,002,000 CHF) in Geneva (through Phillips' auction house).
As the successor, Ref. 2499 is widely considered to be one of the greatest watch models in the world. Historically, only 349 pieces of Ref. 2499 were made from 1950 to 1985 - around 9 pieces each year. Over the course of 35 years, four series of Ref. 2499 were introduced, exerting a strong influence on the watch designs of many other renowned watchmakers. As of June 2019, Ref. 2499 holds eleven spots among the 59 world's most expensive watches sold at auction (over 2 million US dollars) and at least 18 pieces of Ref. 2499 have been auctioned for more than 1.5 million US dollars, with the world record being 3.880 million US dollars (3,915,000 CHF) made at Sotheby's
Sotheby's () is a British-founded American multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, an ...
Geneva auction on November 13, 2018. The successors to Ref. 2499 include, in chronological order, Ref. 3970, Ref. 5970 and Ref. 5270.
Sky Moon Tourbillon
Patek Philippe Sky Moon Tourbillon wristwatch was introduced in 2001, with Ref. 5002 being the first model. The wristwatch has two dials and contains 12 complications including tourbillon
In horology, a tourbillon (; " whirlwind") is an addition to the mechanics of a watch escapement to increase accuracy. It was developed around 1795 and patented by the Swiss-French watchmaker Abraham-Louis Breguet on June 26, 1801. In a tourb ...
, minute repeater
A repeater is a complication in a mechanical watch or clock that chimes the hours and often minutes at the press of a button. There are many types of repeater, from the simple repeater which merely strikes the number of hours, to the minute rep ...
, sky chart, and moon phase & orbit. In 2013, the company introduced the second model of Sky Moon Tourbillon, Ref. 6002, also with 12 complications. The new model took 7 years of research and development, while the engraving on each piece alone took more than 100 hours.
Sky Moon Tourbillon was the most complicated wristwatch from Patek Philippe until 2014. It is estimated that only 3 - 5 pieces are made each year, and the price for each piece is over US$1.2 million. However, every purchase of the piece requires an application from the buyer and has to be approved by Patek Philippe President Thierry Stern. On October 2, 2018, a Sky Moon Tourbillon 6002G was auctioned by Poly Auction in Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...
, fetching US$2.707 million ( HKD 21,240,000), making it one of the most expensive watches ever sold in auction.
150th anniversary edition
In 1989, Patek Philippe created Calibre 89, then the most complicated mechanical watch ever made, for its 150th anniversary. Calibre 89 holds 33 complications, including the date of Easter, time of sunrise, equation of time
In mathematics, an equation is a formula that expresses the equality of two expressions, by connecting them with the equals sign . The word ''equation'' and its cognates in other languages may have subtly different meanings; for example, in F ...
, sidereal time
Sidereal time (as a unit also sidereal day or sidereal rotation period) (sidereal ) is a timekeeping system that astronomers use to locate celestial objects. Using sidereal time, it is possible to easily point a telescope to the proper coor ...
, and many other indicators. 1,728 unique parts allow sidereal time
Sidereal time (as a unit also sidereal day or sidereal rotation period) (sidereal ) is a timekeeping system that astronomers use to locate celestial objects. Using sidereal time, it is possible to easily point a telescope to the proper coor ...
, a 2,800 star chart, and more. In addition, Calibre 89 is able to add a day to February for leap year
A leap year (also known as an intercalary year or bissextile year) is a calendar year that contains an additional day (or, in the case of a lunisolar calendar, a month) added to keep the calendar year synchronized with the astronomical year or ...
s while leaving out the extra day for every 100 year interval.
Only four pieces of Calibre 89 were ever manufactured by Patek Philippe, with one in white gold, one in yellow gold, one in rose gold, and one in platinum. The yellow-gold and the white-gold Calibre 89 were sold at auctions by Antiquorum
Antiquorum is an auctioneer of modern and vintage timepieces. Established in Geneva in 1974, Antiquorum was the first auction house to auction fine watches over the Internet in the 1990s.
The company was founded in Geneva in 1974 by Osvaldo Patriz ...
in 2009 and 2004, respectively, and both watches currently rank among the top ten most expensive watches ever sold at auction, with final prices over 5 million US dollars.
175th anniversary edition
In 2014, Patek Philippe introduced the Grandmaster Chime Ref. 5175, the most complicated wristwatch ever built by the manufacturer (with 20 complications, but no tourbillon
In horology, a tourbillon (; " whirlwind") is an addition to the mechanics of a watch escapement to increase accuracy. It was developed around 1795 and patented by the Swiss-French watchmaker Abraham-Louis Breguet on June 26, 1801. In a tourb ...
), to celebrate its 175th anniversary. Only seven pieces of Ref. 5175 were created, with one permanently residing in the Patek Philippe Museum in Geneva. The sale price for each of the other six pieces was 2.5 million CHF (2.6 million US dollars).
In 2016, Patek Philippe introduced the Grandmaster Chime Ref. 6300, succeeding the Grandmaster Chime Ref. 5175. Ref. 6300 also has 20 complications, including grande sonnerie, minute repeater
A repeater is a complication in a mechanical watch or clock that chimes the hours and often minutes at the press of a button. There are many types of repeater, from the simple repeater which merely strikes the number of hours, to the minute rep ...
, and alarm
An alarm device is a mechanism that gives an audible, visual or other kind of alarm signal to alert someone to a problem or condition that requires urgent attention.
Alphabetical musical instruments
Etymology
The word ''alarm'' comes from t ...
with time strike (but without tourbillon), with the sale price over 2.2 million US dollars. The purchase of each piece requires an application from the buyer and has to be approved by Patek Philippe President Thierry Stern.
See also
*''Boule de Genève
A Boule de Genève (Geneva ball) is a type of pendant watch in the shape of a small ball or sphere originating from Geneva, (Switzerland). The dial is usually at the bottom of the sphere facing the floor, at the opposite side of the jump ring on ...
''
*List of watch manufacturers
Watchmakers
This list is a duplicate of :Watchmakers, which will likely be more up-to-date and complete. Manufacturers that are named after the founder are sorted by surname. Names in this list require an article about the watch brand or watchma ...
*''Manufacture d'horlogerie
(meaning "watchmaking manufacturer") is a French language term of horology that has also been adopted in the English language as a loanword. In horology, the term is usually encountered in its abbreviated form ''manufacture''. This term is used wh ...
''
*Patek Philippe Henry Graves Supercomplication
The Patek Philippe Henry Graves Supercomplication (no. 198.385) is one of the most complicated mechanical pocket watches ever created. The 18-karat gold watch has 24 complications and was assembled by Patek Philippe. It was named after banker ...
*Patek Philippe Calibre 89
The Patek Philippe Calibre 89 is a commemorative pocket watch created in 1989, to celebrate the company's 150th anniversary. Declared by Patek Philippe as ''"the most complicated watch in the world"'' at the time of creation, it has 33 complic ...
References
Further reading
Library of reference books on Patek Philippe watches and company
- Patek Philippe website
* Kepa, Marek
"Watches for Royalty"
''Culture.pl'', July 27, 2015
* Liu, Ming
''The New York Times'', March 17, 2016
* Thompson, Joe, ttp://www.watchtime.com/featured/family-values-patek-philippes-thierry-philippe-stern/ "Family Values: Patek Philippe’s Thierry and Philippe Stern" ''WatchTime Magazine'', August 8, 2012
* Walston, Oliver
"David and Goliath"
'' Lusso'' magazine, August 8, 2009.
* Mazzardo, Alessandro
"History of the Patek Philippe Nautilus"
''Time and Watches'', Dec 16, 2021.
External links
*
{{DEFAULTSORT:Patek Philippe and Co.
Manufacturing companies established in 1851
Swiss companies established in 1851
Swiss watch brands
Luxury brands
Watch manufacturing companies of Switzerland