It is common for luxury timepieces to cost more than a regular watch. With the high-quality materials they use to produce these watches, it is understandable that they cost more. However, even luxury watches differ in terms of prices. An average luxury timepiece may cost about $1000 to about $10,000 a piece. But if you discover more, some of them cost about $100,000 to even more than a million.
One of the most well-known luxury timepieces that cost a fortune is Patek Philippe. If you are an avid watch collector, you are most likely familiar with this brand and its prices. In this article, let’s look at some of the reasons why this particular brand costs tens of thousands of dollars and why it is worth buying.
Why is Patek Philippe Expensive?
Patek Philippe was founded in the 1800s. It is one of the pioneers in the watchmaking industry. In fact, some of the most expensive timepieces ever sold on auctions are from this company. You can trace the roots to Geneva where some of the best luxury timepieces are created. As a Swiss-made brand, Patek Philippe upholds the high standards that are expected for luxury timepieces. Here are some of the reasons why this timepiece costs more than the others.
- It is built with utmost expertise.
Considering that the brand has been around for a long period, it can be assumed that it has acquired years of expertise. Patek is one of the experts in the watchmaking industry, and it is one of the most reliable timepieces in the world. Each of their models is built with complicated clockwork. It has different features such as an annual calendar, secondary timezone, tourbillon, and chronographs. These features are masterfully done with great craftsmanship using high-tech machinery.
- It has decades of tradition and experience.
One of the best things about Patek is that they manage to keep their tradition alive. It is why they still stand out in the industry despite the rise of other brands. With their years of experience in the field, the brand managed to continue their traditional watchmaking with the help of modern tools. Because of this, they manage to survive from one generation to another.
- It is built for the future.
Despite being one of the most traditionally crafted timepieces, Patek Philippe never forgets to innovate. Through their initiatives of foreseeing the future needs in the watch industry, the company was able to produce new models and features that modern and active men will surely love. Using new materials and technologies, Patek Philippe managed to create new designs for all types of events that can be used in the years to come.
- It promises excellent quality.
Every luxury watch brand will always claim that they produce the highest quality of watches. While this is necessarily true, not all of them can stand the test of time. The company managed to produce some of the highest quality timepieces and has survived many generations. As a result, Patek is still the primary choice of many watch lovers since they opened their doors in 1839. Patek Philippe is highly committed to creating a timepiece not just for you but also for the children of your children.
- It is made with the most prized materials.
The core of every timepiece is in the materials. You can have all the high-tech machinery and skilled experts in your lab, but if you don’t use the right materials, it will surely go wrong. The brand makes sure that only the best materials are used in their timepieces. Even the smallest gear to put inside your watch is carefully analyzed and examined to make sure that it will not hold the watch’s performance. In return, the company can produce high-performing and reliable timepieces.
- It has intricate and detailed designs.
The very first attribute that will attract a buyer is the watches’ aesthetic appeal. This factor is indeed a great value for Patek Philippe watches. Because of that, they make sure to create unique and highly creative watch designs. It’s pretty easy to sacrifice a watch’s aesthetic just to meet the requirements of producing a high-performing watch. This is not the case with Patek Philippe. The company makes sure that every timepiece in its collection is intricately designed with the most appealing appearance. After all, a watch is used as an accessory to complete your outfit.
- It increases value in the market.
Because of its positive reputation in the industry, Patek holds a good place in the market. It is one of the reasons why buying a Patek Philippe is more like an investment. There is a high chance that you can earn more than what you spend if you resell a Patek watch, especially if it’s a limited edition model. Though the actual upkeep for your Patek watch is unpredictable, the chance to increase its value is very high. You may not be planning to resell the watch but knowing that you own a timepiece of such value is a great fulfillment itself.
Patek Philippe is known as one of the most expensive watches in the world. With its price comes a lot of advantages and benefits. Wearing a Patek Philippe watch is more than just an accessory. It’s a timeless watch that can last for more than a lifetime. As the old saying goes, cost and worth are two different things.