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Patek Philippe Nautilus: One Analysis Of How Prices Have Changed Over Four Years Quill & Pad
Patek Philippe Nautilus One Analysis Jun 19, 2022

Patek Philippe Nautilus: One Analysis Of How Prices Have Changed Over Four Years

How much does a Patek Philippe Nautilus cost? How will Nautilus prices evolve? Answering these questions, as relevant as they are, has become extremely difficult following the bubble formed in the luxury men’s watch market. This article analyzes the price history of 31 Patek Philippe Nautilus models, revealing the models that have gained an absolute value, the most dramatic relative increases, and the influence of case and bracelet material.

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Auction Watch: Sotheby’s Sets Record for Most Expensive Patek Philippe Ref. 2499 SJX Watches
Patek Philippe Ref 2499 Sotheby’s just Apr 27, 2022

Auction Watch: Sotheby’s Sets Record for Most Expensive Patek Philippe Ref. 2499

Sotheby’s just concluded the first sale of the spring auction season, which now moves to Geneva with a series of auctions in the Swiss city starting the first weekend of May. The season opened strongly with several records set at Sotheby’s, most notably with The Nevadian Collector, a sale of Patek Philippe timepieces all owned by an American collector. Made up of 38 watches and one lot of vintage Gay Freres bracelets, the auction was led by an unsurprising favourite that sold for a record price – the possibly unique ref. 2499 in pink gold with a dial signed “Gobbi Milano”. Sotheby’s consultant Sam Hines bringing the hammer down on the ref. 2499 “Gobbi” Four telephone bidders competed for the watch, with bidding swift and aggressive. One of the bidders went big early on, taking the bid from HK$19 million to HK$30 million with one bid – an increment of about US$1.4 million. Eventually one of the phone bidders triumphed and set the record for the most expensive ref. 2499 ever sold at auction. The pink ref. 2499 “Gobbi” hammered for HK$50 million, resulting in a total of HK$60.265 million including the buyer’s premium. That’s equivalent to about US$7.68 million, making it the most expensive ref. 2499 ever sold at auction by some margin. The last record holder was the ref. 2499 “Asprey” that sold in 2018 for about US$ 4 million at Sotheby’s in Geneva – which was also sold by the Nevadian. While the ref. 2499 “Gobbi” was the headline lot,...

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Highlights: “The Nevadian Collector”, a Spectacular Single-Owner Collection of Patek Philippe SJX Watches
Patek Philippe Apr 15, 2022

Highlights: “The Nevadian Collector”, a Spectacular Single-Owner Collection of Patek Philippe

The flagship event at Sotheby’s upcoming spring watch auction in Hong Kong is The Nevadian Collector. Focused on historically significant Patek Philippe references, the compact but valuable sale is the closing act of a notable collector based in California. Having started collecting over 30 years ago, the “Nevadian” became a major figure in vintage watch collecting after selling his media business in the mid 1990s. Now in his eighties, the gentleman’s collection was once some 400 watches, a number that has been gradually pared down in recent years. It included several timepieces that set priced records in recent years, including the ref. 2499 signed “Asprey” that sold for almost CHF4 million in 2018 and another ref. 2499 signed “Tiffany & Co.” that sold for the equivalent of US$3 million later that year. Another of the Nevadian’s watches: the crisp, third series ref. 2499 in pink gold with a “Tiffany & Co.” dial that sold for HK$23.5m, or US$3.00 million, in 2018, becoming the most expensive watch sold at auction in Asia that year Made up of only 40 lots – but with a cumulative value of US$15 million at the low estimates – the sale takes place in the evening of April 25, 2022, starting at 8:00 pm (GMT +8). Bidding and the full catalogue can be accessed here. The upcoming auction represents the last of the Nevadian’s watches, but considering the depth and breath of the collection, the line up unsurprisingly encompasses many spectacular, import...

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Patek Philippe Introduces the Ref. 5470P 1/10th of a Second Chronograph SJX Watches
Patek Philippe Introduces Apr 6, 2022

Patek Philippe Introduces the Ref. 5470P 1/10th of a Second Chronograph

Just after the curtain fell on Watches & Wonders 2022 – on the day after the fair closed in fact – Patek Philippe unveils one of its technical highlights for the year, the 1/10th of a Second Monopusher Chronograph ref. 5470P-001. In a first for the Geneva watchmaker, the chronograph is equipped with a high-frequency balance that beats at 36,000 vibrations per hour, or 5 Hz. The high-beat movement results in a lighting seconds hand that completes one revolution around the dial every 12 seconds, allowing the chronograph to precisely record elapsed times with a resolution of 1/10ths of a second (barring user error). This lightning seconds hand runs in tandem with the regular chronograph seconds hand, resulting in an unusual sight on the dial when the chronograph is running. Initial thoughts While lightning seconds chronographs have been done before, it’s surprising to see a traditionalist brand such as Patek Philippe have a go at the complication. The function is often associated with brands with a sporty, contemporary aesthetic like TAG Heuer and Zenith. In terms of aesthetics, the ref. 5470P is another example of the brand continuing to move towards a more modern, striking style, even for otherwise classical models. But under the hood is where it shines. Despite the seemingly simple idea of tacking on an additional gear train for the 1/10th of a second hand, the movement inside underwent a deceptively complex modification. And in typical Patek Philippe fashion, the co...

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Review: The Patek Philippe Ref. 3940J – A Classical Beauty Revisited Deployant
Patek Philippe Ref 3940J – Mar 14, 2022

Review: The Patek Philippe Ref. 3940J – A Classical Beauty Revisited

The histories of Patek Philippe and the perpetual calendar wristwatch are richly intertwined. Not only was the prestigious Genevan watch manufacturer the first to create the perpetual calendar wristwatch, it has since gone on to produce specimens that served and continue to serve as the industry standard. The prototypical Patek Philippe perpetual calendar wristwatch isRead More

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Up Close: Patek Philippe Calatrava Ref. 5057G “Cortina Watch 50th Anniversary” SJX Watches
Patek Philippe Calatrava Ref 5057G “Cortina Mar 10, 2022

Up Close: Patek Philippe Calatrava Ref. 5057G “Cortina Watch 50th Anniversary”

Conceived for the jubilee of Singapore-based retailer Cortina Watch, the Patek Philippe Calatrava Ref. 5057G-010 is a throwback to the nineties in both size and size, but given a contemporary flavour with a dial in smoked grey. In fact, it is a remake of the original model, the ref. 5057R that was in rose gold. Interestingly, the reference was specifically created for Cortina’s 25th anniversary in 1997, giving the ref. 5057 the distinction of being a reference unique to a retailer. Initial thoughts Though it’s small by modern standards – it’s a bit over 36 mm in diameter – the ref. 5057G instantly stands out with its nineties style. The triple-row hobnail bezel and straight lugs instantly evoke Patek Philippe’s aesthetic of that decade. They set the ref. 5057G apart from the brand’s current offerings that have a more modern style. I like Patek Philippe’s style of that era, so I like the ref. 5057G. With the wide hobnail bezel, it’s a bit fancier than it should be, but that’s the appeal. And the bezel is the very feature that gives the watch presence. It catches the light well and is essentially “bling” for an otherwise conservative design. At the same time, the ref. 5057G is more attractive than the original model in rose gold, which lacked contrast due to its white-on-rose gold palette. By today’s standards the original is old fashioned. The ref. 5057R of 1997 that was created for Cortina’s 25th anniversary and also a limited edition of 100 wat...

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Patek Philippe Introduces the Calatrava Ref. 5057G “Cortina Watch 50th Anniversary” SJX Watches
Patek Philippe Introduces Feb 24, 2022

Patek Philippe Introduces the Calatrava Ref. 5057G “Cortina Watch 50th Anniversary”

One of Patek Philippe’s longest standing and most important retailers in Asia, Cortina Watch celebrates its 50th anniversary in 2022. In that half century, Cortina has grown from a single store in Singapore to one of the biggest retailers in Southeast Asia with a network of 45 stores and remains controlled by the founding Lim family. As it was with its 25th anniversary in 1997, Cortina is marking the milestone with a limited edition Patek Philippe – the same model in a different guise in fact. The Patek Philippe Calatrava Ref. 5057G “Cortina Watch 50th Anniversary” preserves the design of the earlier anniversary edition, but dresses it up in a more contemporary grey and silver livery. Importantly, the ref. 5057 was a brand-new reference conceived for Cortina, which means the new edition is only the second time that the reference is seeing light of day. Initial thoughts The ref. 5057G is notable in several ways. For one, it is unusual amongst retailer editions in having complications instead of being a time-and-date Calatrava, no doubt a reflection of the especially strong ties between the Stern and Lim families. Second, the ref. 5057G harks back to the watchmaker’s aesthetic of the 1990s with its dial and hobnail bezel. This sets it apart from Patek Philippe’s recent watches, which mostly have a more contemporary style. And the ref. 5057G is intrinsically attractive. I have yet to see the watch in person, but I’ve examined the preceding ref. 5057R several ...

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In-Depth: Patek Philippe Ref. 5236P In-line Perpetual Calendar SJX Watches
Patek Philippe Ref 5236P In-line Perpetual Dec 29, 2021

In-Depth: Patek Philippe Ref. 5236P In-line Perpetual Calendar

Patek Philippe introduced a bunch of notable new models this year, including the recent “Advanced Research” Minute Repeater Ref. 5750P. The most notable amongst its accessible complications – accessible in a relative sense – is unquestionably the In-line Perpetual Calendar ref. 5236P, an all-new model with a movement developed from the ground up. The ref. 5236P takes its cues from the “linear” perpetual calendar pocket watches of the 1950s and 1960s, namely the ref. 725 with perpetual calendar only, and the refs. 699, 843, and 844 that also included a minute repeater. The nickname stems from the calendar display within a single, horizontal window under 12 o’clock, which instantly sets such watches apart from conventional calendar displays that rely on multiple sub-dials. A ref. 699 from 1956 with linear calendar and minute repeater This same straight-line calendar display has been reproduced on the ref. 5236P – a substantial feat considering its compact size and relatively large calendar window. It was realised with an all-new calendar mechanism with a cleverly designed display, but one still constructed as a traditional, “grand lever” calendar. Initial thoughts Despite its vintage inspiration, the ref. 5236P looks and feels like a contemporary watch, especially because of its colours and size. In the hand the ref. 5236P is substantial, both in diameter and weight. At 41.3 mm it’s one of the biggest perpetual calendar watches Patek Philippe makes. In...

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Behind The Lens: Patek Philippe Rare Handcrafts Ref. 5089G-018 Geneva Harbor Wood Marquetry Watch Quill & Pad
Patek Philippe Rare Handcrafts Ref 5089G-018 Dec 17, 2021

Behind The Lens: Patek Philippe Rare Handcrafts Ref. 5089G-018 Geneva Harbor Wood Marquetry Watch

What does Patek Philippe mean to you? For GaryG, Patek Philippe is a firm both mindful of the traditions of horology and clearly focused on its own legacy. This is exemplified by the brand's Rare Handcrafts: watches and clocks displaying traditional arts, including engraving, enameling, micro mosaics, and a favorite of his: wood marquetry. Here Gary gets behind the lens to shoot Reference 5089G-018, a 175th anniversary limited edition with wood marquetry dial.

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Jaw-Dropping Phillips Auction Of The Tiffany & Co Double-Signed Patek Philippe Nautilus Ref. 5711/1A-018: Some Deep Thoughts And Wider Implications, Plus Auction Video Quill & Pad
Patek Philippe Nautilus Ref 5711/1A-018 Some Dec 12, 2021

Jaw-Dropping Phillips Auction Of The Tiffany & Co Double-Signed Patek Philippe Nautilus Ref. 5711/1A-018: Some Deep Thoughts And Wider Implications, Plus Auction Video

The Phillips watch auction in New York on December 11, 2021 sold a brand-new Patek Philippe Nautilus Reference 5711/1A-018, double signed “Tiffany & Co”. The hammer fell at a jaw-dropping price of $5.35 million. The buyer’s premium on the sale was an additional $1.153 million. Brendan Cunningham reflects on that auction result and the possible wider implications for the market.

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Hands-On: Patek Philippe Complicated Desk Clock “Only Watch” Ref. 27001M-001 SJX Watches
Patek Philippe Complicated Desk Clock “Only Oct 30, 2021

Hands-On: Patek Philippe Complicated Desk Clock “Only Watch” Ref. 27001M-001

Having set the record for the most expensive watch ever when the Grandmaster Chime ref. 6300A sold for CHF31 million at Only Watch 2019, Patek Philippe has created something entirely different for the 2021 instalment of the charity auction. The Geneva watchmaker’s entry for Only Watch 2021 is the Complicated Desk Clock ref. 27001M-001, a tabletop timepiece inspired by a pair of historical clocks made in the 1920s for prominent American collectors. The front of the clock opens to reveal the pushers for adjustment as well as winding and setting sockets Initial thoughts While Patek Philippe’s past creations for Only Watch were unique variants of existing models, the ref. 27001M desk clock is a unique model. It also claims several “firsts”. The ref. 27001M is the only example of this reference ever created to date – and the first timepiece to be equipped with this movement – and also the first clock Patek Philippe has contributed to Only Watch. This makes the ref. 27001M truly unique against all of Patek Philippe’s diverse repertoire. The inscription on the inside of the lid Very much classical luxury in style, the ref. 27001M is an appealing timepiece. A couple of details could have been done better or removed altogether, like “The Only One” on the lower edge, but it is still a good looking object. At the same time, it is mechanically interesting, since the movement is not only a 31-day calibre but also being used for the first time by Patek Philippe. Thoug...

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Patek Philippe Introduces the Annual Calendar Chronograph Ref. 5905/1A SJX Watches
Patek Philippe Introduces Oct 14, 2021

Patek Philippe Introduces the Annual Calendar Chronograph Ref. 5905/1A

A model often overshadowed by “hot” watches or more complicated ones, the ref. 5905 combines a pair of useful complications into an everyday dress watch, but it was previously available only in a conservative, luxe guise of precious metal case and classical dial colours. But now Patek Philippe is changing up the feel of the model with the Annual Calendar Chronograph ref. 5905/1A. Now cased in steel and matched with a three-link bracelet inspired by the Aquanaut, the ref. 5905/1A retains the sectored dial found on earlier versions of the model, but now in olive green – the same shade found on the Nautilus ref. 5711/1A-014. Initial thoughts Patek Philippe’s opening act for the year was the Nautilus ref. 5711/1A with an olive-green dial (and with the option of a diamond-set bezel), an immediate hit that has become one of the most sought-after watches of 2021. The Nautilus was already hot, as all sports watches with integrated bracelets are, but bestowing the most fashionable colour of the year on the “final edition” of the Nautilus ref. 5711 escalated its desirability to the stratosphere. That bodes well for the ref. 5905/1A. The ref. 5905/1A will be instantly attractive since it caters to current tastes. Its inevitable desirability will overshadow its intrinsic qualities (and also the accessible price), which is a bit of a shame. While intriguing it is not, the ref. 5905/1A is a good-looking watch, and one executed in a practical material while offering usef...

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Patek Philippe Introduces the Split-Seconds Chronograph Perpetual Calendar Ref. 5204R SJX Watches
Patek Philippe Introduces Oct 14, 2021

Patek Philippe Introduces the Split-Seconds Chronograph Perpetual Calendar Ref. 5204R

A variant of a longstanding reference in the Patek Philippe catalogue, the Split-Seconds Chronograph Perpetual Calendar Ref. 5204R-011 is only set apart by its slate-grey dial, but unusual nonetheless – it’s the sole model in Patek Philippe’s Grand Complications collection in that colour, where the predominant colours are silver, blue, black, and a splash of salmon. Initial thoughts Historically the split-seconds seconds chronograph with perpetual calendar in gold was often paired with a silver dial. But as the new World Time Chronograph ref. 5930P illustrates, Patek Philippe is continuing to add new colours into the regular catalogue, instead of reserving them for limited editions or special orders. The rose gold version of this reference is already available with a black dial as the ref. 5204/1R, but matched with a weighty and flashy rose gold bracelet. The new ref. 5204R in contrast is a relatively low key watch, which will appeal to anyone who wants a “Grand Complication” that’s, well, low key. The colour palette of the new ref. 5204R is a familiar because it works well. This makes the ref. 5204R the most appealing version of the model currently available; it is certainly more striking than the conservative model with a silver dial. That said, I do wish Patek had taken the opportunity to redesign the dial slightly, perhaps with slimmer hands and a moon phase display on the top of the lower register. As it is, the moon phase display leaves the dial bottom he...

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Highlights: Vintage Patek Philippe – and One Special Day-Date – at Sotheby’s Hong Kong SJX Watches
Patek Philippe Oct 9, 2021

Highlights: Vintage Patek Philippe – and One Special Day-Date – at Sotheby’s Hong Kong

With Sotheby’s Hong Kong sale just around the corner, we’re rounding up a half-dozen notable vintage watches from the auction, primarily big-ticket Patek Philippe complications. Amongst them a few oddities, one a Patek Philippe ref. 3448 “Senza Luna”, a perpetual calendar with the moon phase omitted, and the other the Rolex Day-Date with a  “Submariner” dial. With the preview exhibition open daily from now till October 12, the auction will take place on October 13. The catalogue and registration for bidding are available on Sothebys.com. Lot 2265: Patek Philippe ref. 130 The oldest watch of the selection is a Patek Philippe ref. 130, the brand’s first serially-produced wristwatch chronograph that remained in the catalogue for over three decades. The model’s longevity makes it an inevitability that a good number of ref. 130 variants exist. Indeed, the model varies greatly in terms case material and dial design, with some combinations being rarer than others. One such rare combination is a steel case with “sector” dial, like the present example. Made by Wenger, the steel cases of the ref. 130 have shorter and wider-spaced lugs compared to the gold cases that made by Vichet, giving the 33 mm case a more imposing appearance Chronograph wristwatches from that era typically feature tiny counters that sit close to the edge of the dial, leaving the dial clean and distinctly vintage. But the “sector” dial here is an entirely different animal – the sect...

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Split Decision, The Sequel: Patek Philippe Reference 5370P vs. A. Lange & Söhne 1815 Rattrapante Honeygold Chronographs: An Owner’s Perspective Quill & Pad
Patek Philippe Reference 5370P vs Sep 25, 2021

Split Decision, The Sequel: Patek Philippe Reference 5370P vs. A. Lange & Söhne 1815 Rattrapante Honeygold Chronographs: An Owner’s Perspective

For reasons GaryG still doesn’t fully understand, he has long been drawn to chronographs. One nice thing he finds about comparing the Patek Philippe Reference 5370 against the A. Lange & Söhne 1815 Rattrapante Honeygold Homage to F.A. Lange is that it’s a fair fight between two purpose-built single rattrapante chronographs of classical construction. Here he puts them head to head.

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Auction Watch: Unique Patek Philippe Ref. 5070/1P – Black Dial on Bracelet SJX Watches
Patek Philippe Ref 5070/1P – Black Sep 12, 2021

Auction Watch: Unique Patek Philippe Ref. 5070/1P – Black Dial on Bracelet

Distinctive with its wide, flat bezel, the ref. 5070 was Patek Philippe’s last chronograph powered by the CH27-70 movement derived from the Lemania 2310. At 42 mm in diameter, the ref. 5070 was the largest high-end chronograph on the market at its launch in 1998. Amongst the four versions of the ref. 5070 – in rose, yellow, or white gold as well as platinum – the platinum version is the rarest. Around 250 were made according to Sotheby’s, with the standard guise for the platinum case being being a metallic, muted-blue dial. Produced at the “special request of an important client” in 2012, the  ref. 5070/1P-010 has a black dial, while preserving the standard dial design with its large, applied Arabic numerals in white gold. While the standard model is has the model reference 5070P, this example has the suffix “/1P”, indicating the monochromatic dial is matched by a platinum “brick” bracelet, an uncommon option only available via special order. Importantly, both the black dial and bracelet are mentioned on the certificate, which indicates the watch was sold at the Patek Philippe Salon in Geneva. The combination of a platinum case, black dial, and matching bracelet – familiar and simple but endlessly striking – has been seen before on other chronograph models, including a ref. 5004P that sold at Christie’s in 2019. But this is the first ref. 5070P in this livery to be offered publicly. Estimated at HK$4-8 million, or US$500,000-1 million, the uniq...

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Why I Bought It: Patek Philippe Reference 5370P Chronograph – Reprise Quill & Pad
Patek Philippe Reference 5370P Chronograph – Jul 17, 2021

Why I Bought It: Patek Philippe Reference 5370P Chronograph – Reprise

The first weekend of November 2016 was a big one for GaryG: in addition to attending the Grand Prix d’Horlogerie de Genève, he collected not one, not two, but three spectacular watches. The watch he left home certain to bring back was one that he had been waiting patiently for since January 2016: the split-seconds chronograph Reference 5370P from Patek Philippe. Here Gary explains why he bought it.

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Pandemic Buying: A Plethora Of Auction Watches Hammering For More Than A Million In 2020 And 2021 – And, Yes, Most Were By Patek Philippe Quill & Pad
Patek Philippe Jul 6, 2021

Pandemic Buying: A Plethora Of Auction Watches Hammering For More Than A Million In 2020 And 2021 – And, Yes, Most Were By Patek Philippe

At watch auctions by Phillips, Christie’s, and Sotheby’s held in 2020, the first year of the pandemic, 22 timepieces hammered for more than one million Swiss francs. And to date in 2021, there have been (at least) 13 watches selling for more than one million Swiss francs. Elizabeth Doerr highlights the top auction results of the pandemic era so far, and, yes, Patek Philippe still reigns supreme.

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Only Watch 2021: Patek Philippe Complicated Desk Clock Ref. 27001M-001 SJX Watches
Patek Philippe Complicated Desk Clock Ref Jul 1, 2021

Only Watch 2021: Patek Philippe Complicated Desk Clock Ref. 27001M-001

Departing from its Only Watch tradition of unique versions of current-production wristwatches, Patek Philippe’s contribution to Only Watch 2021 is a desk clock with perpetual calendar modelled on a 1923 original now in the Patek Philippe Museum. The Complicated Desk Clock Ref. 27001M-001 is inspired by a desk clock owned by James Ward Packard, the American automobile tycoon who was one of Patek Philippe’s leading clients in the 1920s. Made of sterling silver and vermeil with inlays of American walnut, the clock contains a 31-day movement featuring a perpetual calendar. Initial thoughts Topping the mega, CHF31 million result for the Patek Philippe Grandmaster Chime ref. 6300A at Only Watch 2019 would be hard to imagine since the Grandmaster Chime is the most complicated and expensive watch in the brand’s catalogue. Resetting the counter with a desk clock is a shrewd move since its avoids comparisons with the wristwatch of 2019. That said, the desk clock is actually more unique than anything else Patek Philippe has made in recent memory – it is literally the timepiece of this form that exists. Even the unique Dome Clocks and desk clocks that Patek Philippe offer in its annual Rare Handcrafts line up are based on standard templates. It’s worth noting that the desk clock has a “rose-gold opaline” dial similar to that of the Grandmaster Chime ref. 6300A, so it might make a nice pair for the buyer of the 2019 watch. Packard’s clock The inspiration for this clock...

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Patek Philippe Introduces the Minute Repeater Perpetual Calendar Ref. 5374G SJX Watches
Patek Philippe Introduces Jun 16, 2021

Patek Philippe Introduces the Minute Repeater Perpetual Calendar Ref. 5374G

Patek Philippe keeps up the pace with the fourth instalment of new releases for the year, which were just announced at its annual Rare Handcrafts Exhibition in Geneva. While most of the watches at the exhibition are one-offs bestowed with colourful, artisanal decoration, the line up includes an ensemble of repeating watches, led by the flamboyant Sky Moon Tourbillon in pink gold and brown. Simpler, at least relatively speaking, is the Minute Repeater Perpetual Calendar Ref. 5374G that packs a pair of high-end complications fronted by a blue, grand feu enamel dial. Initial thoughts Today’s launches stand in stark contrast to the brand’s hottest watches of the moment – the sports watches that are arguably its most recognisable products now – that were its opening act for the year. Patek Philippe launched a slew of exquisite, highly decorated timepieces today, affirming its twin strengths – haute horlogerie and metiers d’art. The generous array of Rare Handcrafts, along with the fact that several are chiming watches, is a reminder that Patek Philippe is more than a faddish, integrated-bracelet sports watch. That said, the ref. 5374 is not entirely new (neither is the flagship Sky Moon Tourbillon ref. 6002R). In fact, the only truly new reference amongst the Rare Handcrafts complications is the Ladies Minute Repeater ref. 7040/250G. The ref. 5374 was first introduced in 2016 with a platinum case and black enamel dial – a formal, classical package. Now it ge...

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