The most renowned watches in the world, and that’s no exaggeration.
Patek Philippe SA has been a top watchmaker in the world for nearly two hundred years, with impeccable products and outstanding service that has been keeping its customers thrilled since 1839. The company is one of the oldest uninterrupted watch manufacturers on the globe.
Princes and Presidents
Patek Philippe is a prestigious watchmaker with prestigious clients. It’s known for making watches for high-end clients.
The company has provided watches for the likes of Pablo Picasso, John F. Kennedy, Queen Victoria, Queen Elizabeth, Leo Tolstoy, Nelson Mandela, Albert Einstein, Marie Curie, Pope Pius IX, and Pyotr Tchaikovsky.
It would take an incredibly wealthy individual to buy one of Patek Philippe’s designs, as the company’s watches are not only on purchase but actually go up in value over time. They are an investment in many ways. Seven of the ten most expensive watches ever sold at auction have been Patek Philippe watches. The most expensive watch ever sold at auction was made by this renowned company, selling for twenty-four million dollars in Geneva, Switzerland in 2014. The watch in question was a Patek Philippe Henry Graves Supercomplication. This watch was the most complex watch made until 1989.
Founded in 1839, Patek Philippe has been making and selling watches from Vallee de Joux and Canton of Geneva for almost two hundred years. Founded by Anton Patek, a Polish watchmaker, Patek was succeeded by his son in law Antoine Benassy Phillipe. This is the origin of the name Patek Philippe. The company was bought by the Stern family in 1932, and they continue to run this privately held company to this day.
This kind of legacy and long life idea is evident with the company’s slogan, “You never actually own a Patek Philippe. You merely look after it for the next generation.”
Though it might not seem like watches are big enough to have an environmental impact, Patek Philippe has actually faced some serious backlash for its environmental impact.
The major issue here comes from the precious metals that are included in these pieces. Patek Phillippe (Along with other high-end manufacturers of luxury goods) is notoriously tight-lipped about where its materials are sourced from. Often there is major environmental destruction associated with the acquisition of precious metals.
The World Wildlife Fund gave Patek Philippe its lowest environment rating in 2018, prompting calls for boycotts. The report pointed out how especially damaging these environmental practices are in developing countries.
Since it was founded, Patek Philippe has been known for the high level of the mechanical complexity of its pieces. Because of its high level of craftsmanship and its high prices, Patek Philippe has been somewhat immune to the changing markets as smartphones have come onto the market in the last decade. The company has more than four hundred retail stores all over the world, as well as more than a dozen distribution centers.
The Patek Philippe Museum opened in Geneva in 2001. Though this company has been around for so long, it still employs more than two thousand skilled watchmakers. Additionally, the company makes more than one point three billion dollars per year. With this kind of history and this kind of craftsmanship, Patek Philippe has both a bright past and a bright future.