You may be considering buying a Patek Philippe watch right now but are curious if your budget can pay for such an investment. The truth is, yes, a Patek is quite expensive and not everyone can afford it. But if you’re already successful in your business or professional ventures and want to acquire a watch that merges classic beauty with dependable function, then getting a Patek might just be the best investment you can ever make.
In this article, you’ll get to know more about Patek Philippe watches and why you should get one for yourself or your special someone. So, keep reading and find out more.
What Is the Price Range for a Patek Philippe Watch?
A Patek is priced at a rather high price range. For example, a Patek Grand Complications model can be priced as high as $77,000. You can buy a Patek Philippe Nautilus at the mind-blowing price of approximately $143,000. And a Patek Philippe Tourbillon has an incredible price range of $877,000 to nearly $2 million, actually. For some people, that price range may seem to be astronomical. Watch collectors will disagree since each Patek watch is considered a status symbol.
But there are more affordable Patek watches available at much lower prices. For instance, a Patek Calatrava carries an $18,000 price while a Patek Twenty~4 can be bought for $11,000. This is good news for consumers who like to display their net worth on their wrist but want the watch price to be affordable, anyway.
Why Are Patek Philippe Watches Priced So Highly?
The first consideration when you are shopping for a Patek watch is the quality. Patek Philippe prides itself on carrying on the Swiss tradition of optimal craftsmanship when it comes to watches. The company has survived as an independent watchmaker for around 200 years, even though some of its competitors have been acquired by larger companies.
This family-owned business focuses on quality control. Each watch is a masterpiece in itself due to the technical engineering involved. The sheer magnitude of the attention to detail just shows that if you want a quality timepiece, you need to pay a fair price. Excellence doesn’t come easy.
Another reason for the top quality of these timepieces is the use of high-end precious metals such as platinum and gold. So the first concern is procuring these precious metals. The price of such metals on the market may fluctuate from time to time, which also explains why the company may set a high price for each watch they manufacture.
How Many Models of Patek Watches Are Available?
There are around 200 types of watches that carry the Patek name. But don’t be surprised if not all those watch models are readily available. There may be times when the watch model that caught your eye will be out-of-stock. Take note also that there may be a waiting list for that particular model. So, make sure you acquire your preferred watch model years in advance of that special day you were planning to pay for, to avoid panicking at the last minute.
The good news though is that Patek also sells ladies’ watches nowadays. Previously, the company only marketed its products to the menfolk. The expansion into ladies’ watches is an indication that demand for Patek watches is really quite strong right now. This gives the company much-needed stability amidst a global economy that is struggling due to the covid pandemic. Many people really want to acquire their own Patek or give it away to a loved one so Patek Philippe doesn’t have to worry about maintaining their advantage in the market.
How Valuable Are Patek Watches?
Your preferred Patek Philippe watch may have cost a lot to buy but if you take good care of it, it may last for years, even decades. That’s why some people are willing to buy a second-hand Patek watch since the watches are durable yet great-looking. This means consumers who are on a budget may still acquire their own pre-loved Patek watches on the market. This could also be because of the years-long waiting list for a brand-new Patek, actually.
Eventually, you might also pass on your special Patek to your descendants. So, buying a brand-new Patek could be considered an investment in itself. Just make sure your Last Will & Testament stipulates which watch in your collection will go to a particular member of your family to avoid arguments. That’s how valuable a Patek watch can be.
Conclusion: Demand for Patek Philippe Watches Remains Robust
You can be proud of yourself if you can afford a Patek watch for yourself or for a loved one. Not only is demand for Patek watches skyrocketing but it remains pretty much a status symbol in most civilized countries. The performance of your favorite Patek watch will also show you that the company isn’t just bragging about its products. The Patek Philippe company will continue to offer quality timepieces now and in the distant future – which is good for consumers like you.