BACKGROUND

Patek Philippe was established in 1839 as a Swiss luxury watchmaker based in the Canton of Geneva and the Vallée de Joux. Originally named Patek, Czapek & Cie, the company was founded by Antoine Norbert de Patek and François Czapek. It specialised in pocket watches. Unfortunately, the two men eventually parted ways due to differences of opinion, and the company was liquidated on 18 April 1845. Czapek then founded Czapek & Cie on 1 May 1845 with a new partner, Juliusz Gruzewski.

The French watchmaker Adrien Philippe, inventor of the keyless winding mechanism, soon joined Patek Philippe. On 15 May 1845, a new company, Patek & Cie, was founded to continue the watchmaking business. The name was changed to Patek, Philippe & Cie on 1 January 1851. This was the same year that Queen Victoria of the United Kingdom was also present in London at the World Watch Centre. In the same year, Queen Victoria of England was presented with a keyless pendant watch at the Universal Exhibition in London. This watch was decorated with rose-cut diamonds set in a bouquet of flowers.

The Queen also had another exclusive Patek Philippe timepiece – a brooch that could be attached to her dress. This piece is made of diamonds and enamel, as well as enamel suspension. In 1868, Patek Philippe created the first Swiss wristwatch for the Countess of Koscowicz in Hungary.

In March 1877, Antoni Patek died at the age of 65. His only son, Léon Mecyslas Vincent, did not join the company. As a consequence, Joseph Antoine Bénassy-Philippe, one of Adrien Philippe's son-in-laws, assumed the role previously held by Antoni Patek within the company.

Why do collectors love Patek Philippe?

1. Patek Philippe Watches are unique

It is estimated that less than one million Patek Philippe watches have been produced since 1839, making each one unique. Patek Philippe's production is so meticulous that each watch can take up to nine months to make, and that's for the most basic of watches. Some of the more complicated timepieces can take up to two years to make. Patek Philippe electronic watches are so rare that customers must submit a collector's application to prove the status of their purchase. The brand's unique status has led to a surge in global demand.

 2. Expert Design of the Watch

The movement of a watch reveals the true beauty of each piece. Not only is every Patek Philippe watch finished by hand, but every part of the watch is also carefully crafted. The design of the dial is unparalleled by any other brand. The faceted rods and hand-polished hands are the hallmarks of Patek Philippe watches, setting them apart from the competition.

 3. Investment

The resale value of a Patek Philippe watch is significantly higher than that of other brands, both modern and vintage. Watches created for the 175th anniversary collection have been resold at remarkable prices. For instance, a Calatrava watch purchased for $300 in the 1950s now resells for up to $20,000.

4. Patek Philippe Archives

What differentiates Patek Philippe from the competition is that every Patek Philippe watch has a searchable 'extract' in the Patek Philippe Archive. This is a valuable service for consumers, as it provides them with the reassurance of knowing that the date of manufacture and date of sale of each watch has been recorded. This initiative began in 1839.