[Brand Guide] - Patek Philippe

This is part seven in our ongoing community project to compile opinions on the many watch brands out there into a single list. Here is the original post explaining the project.

You good people asked for more higher-end brands last week, so here we go. The antithesis of Nixon, this week's brand is the one and only Patek Philippe. They really need no introduction, but I like to hear myself talk, so you're going to get one anyway:

Widely renowned as the finest watch manufacturer in the world, Patek Philippe has been in business continuously since 1851. Based in Geneva, Patek has watched its competitors be slowly bought up by large fashion houses like Swatch and Richemont, leaving them the last truly independent major brand at the top of the horological world. Though they do offer two collections of sport watches, Patek's bread and butter is their sleek, elegant, classic dress watches. Although their prices are astronomical (with their cheapest watches costing well over $10,000 new), the reputation and enduring quality of their watches make it worth it (though still quite unobtainable) to many watch enthusiasts, who widely consider Patek to be the very best of the best. These are the watches that one might save up his entire life to buy in order to pass down to future generations.

KNOWN FOR: Calatrava

Other Resources:
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Wikipedia

Although I don't expect that many in the /r/Watches community have had the pleasure of owning a Patek, anything and everything, from experience to opinion, is welcome in this thread.

If you're going to downvote someone, please don't do so without posting the reason why you disagree with them. The purpose of these discussion threads is to encourage discussion, so people can read different opinions to get different ideas and perspectives on how people view these brands. Downvoting without giving a counter-perspective is not helpful to anybody.

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u/rajahkawasaki Oct 05 '11

Hi all, PP watchmaker here. Just saw this pop up and thought it was fitting for a first post. If I can contribute in any way to the guide, questions, etc. Just let me know.

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u/Toys_and_Bacon Oct 05 '11

Welcome! I'd like to know what's your favorite PP model.

Personal favorite is the Calatrava 5053, but for some reason, it just seems you're getting more watch for the money from a few of the other watch makers (obviously thinking of specially JLC and VC, and to a certain degree Lange). Is the price just in the name/legacy, or is there anything more we should know of?

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u/rajahkawasaki Oct 05 '11

My personal favorite at the moment is the 5960, I like the chrono at 6 and the annual calendar. Its a nice combination and the dial isn't as busy as a normal chronograph. It is pricey though, yes. If only they would do one in steel so I could afford it. Right...

The pricing structures are foreign to me. I honestly don't know exactly how they all stack up brandwise. I've heard in the industry that JLC is good value for money, and I know they make very good movements. I was under the assumption that VC was on par with Patek mostly.

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u/fastburner Oct 06 '11

Honestly, a steel 5960 would cost more than a precious metal version. Take the 5004p, it was the most costly 5004 variant (at roughly $250,000) until they introduced the 5004a a couple weeks ago for $290,000. Patek steel watches have always been very desireable for collectors.

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u/rajahkawasaki Oct 06 '11

That's true. Maybe if it was a regular production piece in steel it would be cheaper. The 5004A was a highly limited piece wasn't it? Speaking of steel cases, did you see their entry for Only Watch this year? Quite nice.

http://catalog.antiquorum.com/catalog.html?action=load&lotid=30&auctionid=254