Editing Patek Philippe

{{Short description|Swiss luxury watch and clock manufacturer}}
{{Infobox company
| name = Patek Philippe SA
| logo = Patek_Philippe_SA_logo.svg
| logo_size = 225px
| type = [[Privately held company|Private]] (''[[S.A. (corporation)|Société Anonyme]]'')
| industry = [[Watchmaking]]
| foundation = {{Plain list|
* {{Start date and age|1839}} in [[Geneva]] (as Patek, Czapek & Cie)
* 1845 (as Patek & Cie)
* 1851 (as Patek, Philippe & Cie)
}}
| founders = {{Plain list|
* [[Antoni Patek]]
* [[Franciszek Czapek]]
* [[Adrien Philippe]]
}}
| location = [[Plan-les-Ouates]], [[Canton of Geneva]], Switzerland
<br />{{coord|46.16629|6.11211|type:landmark_region:CH-GE|display=title,inline}}
| area_served = Worldwide
| key_people = {{Plain list|
* Philippe Stern <small>(Honorary President)</small>
* Thierry Stern <small>(President)</small>
* Claude Peny <small>(CEO)</small>
* Laurent Bernasconi <small>(General Manager)</small>
}}
| products = [[Mechanical watch]]es, [[clock]]s
| production = 70,000 (2023)<ref name="auto">{{cite web | url=https://revolutionwatch.com/morgan-stanley-luxeconsult-2024/ | title=Breaking News: Morgan Stanley and LuxeConsult publish Swiss watch industry's top 50 companies for 2023 | date=28 February 2024 }}</ref> 
| revenue = [[US$]]2.05 billion (2023)<ref name="auto"/>  
| operating_income = 
| net_income = 
| num_employees = 
| owner = Stern family
| subsid = {{Nowrap|
* The Henri Stern Watch Agency Inc.
* Patek Philippe Salon Ltd
* Patek Philippe France
}}
| footnotes = 
| homepage = {{URL|https://www.patek.com/}}
}}
'''Patek Philippe SA''' ({{IPA|fr|paˈtɛk fiˈlip|lang}}) is a Swiss luxury [[watchmaker]] and [[clock]] [[manufacture d'horlogerie|manufacturer]], located in the [[Canton of Geneva]] and the [[Vallée de Joux]].<ref>{{Cite web|url=https://www.patek.com/en/company/history#1839-1877|title=Patek Philippe {{!}} Company {{!}} History|publisher=Patek Philippe SA|language=en|access-date=2018-11-26}}</ref> Established in 1839, it is named after two of its founders, [[Antoni Patek]] and [[Adrien Philippe]]. Since 1932, the company has been owned by the Stern family in [[Switzerland]]<ref name="Bloomberg-2018b" /> and remains the last family-owned independent watch manufacturer in [[Geneva]].<ref name=":Rudells">{{Cite web|url=https://www.rudells.com/watches/brands/patek-philippe|title=The Patek Philippe Way of Watchmaking|website=www.rudells.com|language=en|access-date=2022-02-24}}</ref> Patek Philippe is one of the oldest watch manufacturers in the world with an uninterrupted watchmaking history since its founding.<ref>{{Cite web|url=https://www.pragnell.co.uk/pragnell-house/news/175-years-of-patek-philippe-a-big-story-in-three-chapters|title=175 years of Patek Philippe: A big story in three chapters|publisher=www.pragnell.co.uk|language=en|access-date=2018-12-11}}</ref><ref>{{Cite web|url=https://www.patek.com/en/company/the-manufacture|title=Patek Philippe {{!}} Company {{!}} The Manufacture|publisher=Patek Philippe SA|language=en|access-date=2018-12-11}}</ref><ref>{{Cite web|url=https://www.patek.com/en/company/news/the-175th-anniversary|title=Patek Philippe {{!}} News {{!}} Celebrating our 175th Anniversary|publisher=Patek Philippe SA|language=en|access-date=2018-12-11}}</ref> It designs and manufactures timepieces as well as [[Watch movement|movements]], including some of the most complicated [[mechanical watch]]es. The company maintains over 400 retail locations globally and over a dozen [[distribution center]]s across Asia, Europe, North America, and Oceania. In 2001, it opened the Patek Philippe Museum in Geneva.<ref>{{Cite web|url=https://www.patek.com/en/retail-service/authorized-retailers|title=Patek Philippe SA {{!}} Authorized Retailers|publisher=www.patek.com|language=en|access-date=2018-05-07}}</ref><ref>{{Cite web|url=https://www.patek.com/en/retail-service/distributors|title=Patek Philippe SA {{!}} Distributors|publisher=www.patek.com|language=en|access-date=2018-05-07}}</ref><ref>{{Cite web|url=https://www.patek.com/en/company/patek-philippe-museum|title=Patek Philippe {{!}} Visit the Patek Philippe Museum in Geneva|publisher=Patek Philippe SA|language=en|access-date=2018-12-21}}</ref>

Patek Philippe is widely considered to be one of the most prestigious watch manufacturers in the world.<ref name="Korda2004">{{citation|author=Michael Korda|title=Marking Time: Collecting Watches and Thinking about Time|date=1 January 2004|url=https://books.google.com/books?id=9VYKILqUThQC&pg=PA71|pages=71–|publisher=Barnes & Noble Publishing|isbn=978-0-7607-3576-3}}</ref><ref>{{Cite web|url=https://www.christies.com/features/5-reasons-collectors-love-Patek-Philippe-7390-1.aspx|title=5 reasons collectors love Patek Philippe |publisher=Christie's |language=en|access-date=2018-12-11}}</ref><ref>{{Cite web|url=https://www.cnn.com/style/article/patek-philippe-art-of-watches/index.html|title=Why collectors covet Patek Philippe timepieces|first=Steve |last=Dool|date=2017-07-18|publisher=CNN Style|language=en|access-date=2018-12-11}}</ref><ref name="Clymer-2013">{{Cite web|url=https://www.forbes.com/sites/booked/2010/05/07/patek-philippe-in-america-unparalleled-luxury-that-captures-hearts—and-wrists/|archive-url=https://web.archive.org/web/20130509003433/http://www.forbes.com/sites/booked/2010/05/07/patek-philippe-in-america-unparalleled-luxury-that-captures-hearts%E2%80%94and-wrists/|url-status=dead|archive-date=May 9, 2013|title=Patek Philippe in America: Unparalleled Luxury That Captures Hearts—And Wrists|last=Clymer|first=Benjamin|website=Forbes|language=en|access-date=2018-12-11}}</ref> As of July 2023, among the world's top ten [[List of most expensive watches sold at auction|most expensive watches ever sold at auctions]], nine were Patek Philippe watches. In particular, Patek Philippe Grandmaster Chime Ref. 6300A-010 currently holds the title of the most expensive watch (and wristwatch) ever sold at auction (US$31 million/27 million [[Swiss franc|CHF]]), while the [[Patek Philippe Henry Graves Supercomplication]], the world's most complicated mechanical watch until 1989,<ref>{{Cite magazine|url=https://time.com/3578825/expensive-watch-soethbys-patek-philippe/|title=Swiss Pocket Watch Sells for Record $24 Million|magazine=Time|date=11 November 2014 |language=en|access-date=2018-11-23}}</ref> currently holds the title of the most expensive [[pocket watch]] ever sold at auction (US$24 million/21 million CHF).<ref>{{Cite web |last=Goulard |first=Brice |date=2019-07-01 |title=Only Watch 2019 - Patek Philippe 6300A Unique Steel Grandmaster Chime |url=https://monochrome-watches.com/patek-philippe-6300a-unique-steel-grandmaster-chime-only-watch-2019/ |access-date=2024-06-23 |website=Monochrome Watches |language=en-US}}</ref><ref name="Reddinger-2019">{{Cite web|url=https://robbreport.com/style/watch-collector/this-31m-patek-philippe-is-now-the-most-expensive-watch-in-the-world-2879669/|title=This $31 Million Patek Philippe Just Became the Most Expensive Watch in the World|last1=Reddinger|first1=Paige|date=2019-11-09|website=Robb Report|language=en|access-date=2019-11-11}}</ref>

== History ==
[[File:Antoni Patek.jpg|thumb|150px|[[Antoni Patek]]]]
[[File:JeanAdrienPhilippe.jpg|thumb|150px|[[Adrien Philippe]]]]
=== Early history  ===
The company traces its origins to the mid-19th century, when [[Poland|Polish]] watchmaker [[Antoni Patek]] and his [[Czech Republic|Czech]]-born Polish business partner [[Franciszek Czapek]] formed ''Patek, Czapek & Cie'' in [[Geneva]] on 1 May 1839 and started manufacturing [[pocket watch]]es.<ref name="Patek.com-1">{{Cite web|url=https://www.patek.com/en/company/history|title=Patek Philippe SA {{!}} History (1839–1877)|website=www.patek.com|language=en|access-date=2018-05-07}}</ref> The two eventually separated due to disagreements, and the company was [[liquidated]] on 18 April 1845.<ref name="Patek-6">{{Cite web|url=https://static.patek.com/pdf/others/Patek_Philippe_Museum_Catalog_Preview_Volume_I.pdf|title=Patek Philippe Watches (Volume I) - Patek Philippe Museum|website=Patek Philippe}}</ref><ref name="Official Watches-2019" /> At that point, Czapek founded ''[[Czapek & Cie]]'' on 1 May 1845 with a new partner, Juliusz Gruzewski.<ref>{{Cite web|url=https://czapek.com/the-history/|title=The History|website=Czapek|language=en-US|access-date=2018-12-22}}</ref> Subsequently, Patek was joined by [[France|French]] watchmaker [[Adrien Philippe]], the inventor of the keyless winding mechanism (although this had been discovered previously by [[Abraham Louis Breguet]] but not patented by him), and continued the watchmaking business with a new company, ''Patek & Cie'', beginning on 15 May 1845''.''<ref name="Official Watches-2019">{{Cite web|url=https://www.officialwatches.com/patek-philippe/history/|title=Patek Philippe History|website=Official Watches|archive-url=https://web.archive.org/web/20190113182244/https://www.officialwatches.com/patek-philippe/history/|archive-date=2019-01-13|url-status=dead}}</ref>

On 1 January 1851, the company's name was officially changed to ''Patek, Philippe & Cie''.<ref name="Patek.com-1" /> In the same year, [[Queen Victoria]] of the United Kingdom acquired a keyless pendant watch at the [[The Great Exhibition|Great Exhibition]] in [[London]].<ref name="Patek.com-1" /> The watch was embellished with rose-cut diamonds set in the pattern of a bouquet of flowers.<ref name="Patek-6" /> The Queen had another exclusive Patek Philippe timepiece, to be worn pinned to clothing. This watch was suspended from a [[diamond]] and enamel [[brooch]].<ref name="PPHOMEPAGETIMELINE">Cf. [http://www.patek.ch/contents/default/en/timeline.html Patek Philippe website official history timeline]</ref><ref name="PPROYALTY2005">[http://www.patek.com/contents/default/en/library.html ''Timepieces for Royalty – 1850-1910 by Patek Philippe''], Geneva : Patek Philippe Museum, 2005.</ref> In 1868, Patek Philippe created the first Swiss [[wristwatch]] for Countess Koscowicz of [[Hungary]].<ref name="Patek.com-1" />

[[File:Adrien Philippe 1875.jpg|thumb|150px|The highly historic Patek Philippe known as “The Watchmaker’s Daughter”. It was first owned by the Patek Philippe founder, Adrien Philippe, and is the only wristwatch owned by one of the company’s founders. He later gifted it to his daughter on her wedding day in 1875. The current whereabouts of this watch is unknown, but rumored to have been purchased by the Patek Philippe Museum due to its historical importance and provenance.{{efn|Originally the watch was ordered and owned by the founder, Adrien Philippe. Adrien gifted the watch to his daughter, Louise, as a gift for her wedding to Joseph Antoine Bénassy in 1875, which is noted as the marriage that saved Patek Philippe. A successor was desperately needed at the time for the company to survive the founding generation. Joseph would replace Antoni Patek running the company in 1877 upon his death. It is one of a kind as the only wristwatch owned by one of the founders of Patek Philippe. The watch is the earliest ancestor of the Calatrava possessing the profile and size that would become the standard for future wristwatches being slim with a round case, which would be later implemented in Reference 96. The watch was passed down internally by the descendants of Adrien Philippe for 148 years. Auctioned at Sotheby's in 2023.<ref name="Sothebys-2023">{{Cite web |last=Sotheby's |date=2023 |title=Patek Philippe 1875 From Descendants of Adrien Philippe |url=https://www.sothebys.com/en/buy/auction/2023/fine-watches/montre-bracelet-en-or-jaune-yellow-gold-wristwatch }}</ref>}}]]
In 1875, Adrien Philippe commissioned a watch that he later gave to his daughter Louise as a wedding present, which is known as the only wristwatch dating back to be owned by either Patek or Philippe. This historical watch is known as “The Watchmaker’s Daughter” and was auctioned in 2023 by the descendants of Adrien Philippe. The watch was purchased most probably by the Patek Philippe Museum though this is not confirmed and may be owned by a private collector.<ref name="Sothebys-2023" /> The wedding between Louise Philippe and Joseph Antoine Bénassy where the watch was presented is noted as the wedding that helped Patek Philippe survive the founding generation by providing the company with a successor to Antoni Patek.<ref name="Pragnell-2019" />

In March 1877, Antoni Patek died at the age of 65, but his only son, Léon Mecyslas Vincent Patek, did not join the business.<ref name="Patek-6" /><ref name="Pragnell-2019">{{Cite web|url=https://www.pragnell.co.uk/pragnell-house/news/175-years-of-patek-philippe-a-big-story-in-three-chapters|title=175 years of Patek Philippe: A big story in three chapters|website=www.pragnell.co.uk|language=en|access-date=2019-01-07}}</ref> As a result, Joseph Antoine Bénassy-Philippe, one of Adrien Philippe's sons-in-law, succeeded to Antoni Patek's position.<ref name="Pragnell-2019" /> In 1887, the cross of one of the four Military Orders of Spain, the [[Order of Calatrava]], became the registered company logo of Patek Philippe as a sympathetic allusion to the still-extant order of Catholic knights that fought the Muslims in the Crusades.<ref name="Haute horlogerie-2019">{{Cite web|url=https://www.hautehorlogerie.org/en/brands/brand/h/patek-philippe/|title=Patek Philippe|website=www.hautehorlogerie.org|access-date=2019-01-05}}</ref><ref>{{Cite web|url=https://www.thehourglass.com/collectors-guides/patek-philippe-calatrava/#:~:text=The%20Calatrava%20cross%2C%20registered%20by,in%201158%20from%20Arabian%20invaders|title=Patek Philippe|website=www.thehourglass.org|date=9 August 2019 |access-date=2023-01-13}}</ref> In 1891, the 76-year-old Adrien Philippe handed over his position in the business to his youngest son, Joseph Emile Philippe, together with François Antoine Conty.<ref name="Pragnell-2019" /><ref name="Brittons-2019">{{Cite web|url=http://www.brittons-watches.co.uk/watches_patek_history.htm|title=Patek Phillipe - A Brief History|website=www.brittons-watches.co.uk|access-date=2019-01-07}}</ref> Adrien Philippe died in January 1894.<ref name="Brittons-2019" />

=== Company restructuring ===
1901 saw the transformation of Patek Philippe into a [[joint-stock company]], ''Ancienne Manufacture d'horlogerie Patek, Philippe & Cie, Société Anonyme,'' initiated by J. A. Bénassy-Philippe and Joseph E. Philippe.<ref name="Pragnell-2019" /><ref name="Brittons-2019" /><ref name="Truefacet-2015">{{Cite web|url=https://www.truefacet.com/guide/beginning-brand-patek-philippe/|title=The History of the Patek Philippe Brand {{!}} The Loupe, TrueFacet|date=2015-09-29|language=en-US|access-date=2019-01-07}}</ref> Still being run as a family business, Patek Philippe then had seven shareholders, five of whom formed the board of directors with J. A. Bénassy-Philippe being the chairman.<ref name="Truefacet-2015" /> Joseph E. Philippe's son later joined the company, and he was the last offspring of the founders in the business.<ref name="Pragnell-2019" /> In 1915, [[Albert Einstein]] ordered a gold pocket watch from Patek Philippe; in that year, he completed his [[Theory of General Relativity]].<ref>{{Cite web|url=https://www.watchtime.com/downloads/free-download-watchtime-spotlight-patek-philippe/|title=Patek Philippe, Pocket Watch to Wristwatch: A History of the Patek Philippe Watch Company|last=Friedrich|first=Carina|date=2015-11-10|website=WatchTime - USA's No.1 Watch Magazine|language=en-US|access-date=2019-01-27}}</ref><ref>{{Cite web|url=https://www.ias.edu/idea-tags/general-relativity|title=General Relativity|website=Institute for Advanced Study|language=en|access-date=2019-01-27|archive-url=https://web.archive.org/web/20190128082842/https://www.ias.edu/idea-tags/general-relativity|archive-date=2019-01-28|url-status=dead}}</ref>

The Stern family of Switzerland has owned Patek Philippe since 1932, when Charles Stern and Jean Stern acquired the company during the [[Great Depression]].<ref name="Bloomberg-2018b">{{Cite news|url=https://www.bloomberg.com/billionaires/profiles/philippe-stern/|title=Philippe Stern|newspaper=Bloomberg|access-date=2018-12-12}}</ref> The Stern brothers' company, ''Fabrique de Cadrans Sterns Frères'', had been a business partner of Patek Philippe as its supplier of watch dials. In 1935, Patek Philippe was brought to American markets by [[New York City|New York]]-based ''Henri Stern Watch Agency'', where it was sold as a sister brand alongside [[Universal Genève]].<ref>{{cite book|title=A Grand Complication: The Race to Build the World's Most Legendary Watch|last=Perman|first=Stacy|publisher=[[Simon & Schuster]]|year=2013|isbn=978-1439190081|page=[https://archive.org/details/grandcomplicatio0000perm/page/220 220]|url=https://archive.org/details/grandcomplicatio0000perm/page/220}}</ref>

In 1958, Henri Stern, the son of Charles Stern, became the president of Patek Philippe.<ref name="Bloomberg-2018b" /><ref name="Patek Philippe SA-2018">{{Cite web|url=https://www.patek.com/en/company/history|title=Patek Philippe {{!}} Company {{!}} History|website=Patek Philippe SA|language=en|access-date=2018-12-12}}</ref> Alan Banbery, who previously designed Universal's "Compax" movements and worked as a horologist for London's [[Garrard & Co]], would take on the position of Director of Sales in 1965 and later authored official reference books on vintage Patek Philippe [[pocket watch]]es and [[chronograph]]s.<ref>{{Cite web|title=How Alan Banbery shaped the modern history of Patek Philippe|url=https://www.acollectedman.com/blogs/journal/alan-banbery-patek-philippe|access-date=2021-04-15|website=A Collected Man|date=20 November 2020 }}</ref><ref>{{Cite web|title=Who Is Alan Banberry?|url=https://montrespubliques.com/1minute-reads/who-is-alan-banbery|access-date=2021-04-15|website=Montres Publiques|language=en-CA}}</ref>

=== Recent developments ===
In 1993, Philippe Stern, the son of Henri Stern, became the president of the company.<ref name="Bloomberg-2018b" /><ref name="Patek Philippe SA-2018" /> He initiated the publication of the twice-a-year ''Patek Philippe Magazine'' in 1996, which is reserved for the watch owners and has received contributions from various prominent writers including [[List of Nobel laureates in Literature|Nobel Laureates]] [[Gao Xingjian]] and [[José Saramago]].<ref>{{Cite web|url=https://www.fhs.swiss/eng/2017_01_12_02_Patek.html|title=The "Generations" ad campaign is twenty years old|website=Federation of the Swiss watch industry FH|access-date=2019-02-25}}</ref> 

In 2009, Philippe Stern's son, Thierry Stern, took over the reins from his father.<ref>{{Cite news|url=https://www.europastar.com/news/1004020426-thierry-stern-takes-over-the-presidency-of-patek.html|title=Thierry Stern Takes Over the Presidency of Patek Philippe|date=October 2009|newspaper=Europa Star|access-date=2022-05-22|language=en-US}}</ref> In 2010, the company produced 40,000 timepieces and, according to Thierry Stern, it produced 58,000 pieces in 2017.<ref name="KPMG">[[KPMG]], [http://www.kpmg.com.cn/en/virtual_library/Consumer_markets/Consumer_Currents/CC0805.pdf "Standing the Test of Time"], pp.16-18, in ''Consumer Currents'', Issue 5, 2008, [[KPMG|KPMG International]]</ref><ref name="Haute horlogerie-2018">{{cite web|url=https://journal.hautehorlogerie.org/en/thierry-stern-you-have-to-innovate-otherwise-you-die/|title=Thierry Stern: "You have to innovate, otherwise you die" |website=journal.hautehorlogerie.org|language=en-US|access-date=2018-12-30}}</ref> In 2018, the number went up to 62,000, and in order to maintain quality and exclusivity, Patek Philippe would only slowly increase the number of timepieces produced each year (by 1-3 percent per year) but with a ceiling.<ref name="Reuters">{{Cite news |url=https://www.reuters.com/article/us-swiss-watches-idUSKCN1R22CK |title=Swiss watchmakers say slowing growth in China won't hurt sales this...|date=2019-03-21|publisher=Reuters|access-date=2019-03-23|language=en}}</ref><ref>{{Cite news|url=https://uk.reuters.com/article/uk-swiss-watches-patek-idUKKCN1MS26M|archive-url=https://web.archive.org/web/20181129140542/https://uk.reuters.com/article/uk-swiss-watches-patek-idUKKCN1MS26M|url-status=dead|archive-date=November 29, 2018|title=Swiss watchmaker Patek Philippe says Chinese demand still rising|date=2018-10-18|work=Reuters|access-date=2018-12-11|language=en}}</ref> Currently{{When|date=January 2024}}, the company is an active member of the [[Federation of the Swiss Watch Industry FH]].<ref>{{cite web|url=https://www.fhs.swiss/eng/watch_brands.html?letter=P|title=Our brands|website=Federation of the Swiss watch industry}}</ref>

Since the 2000s, Patek Philippe timepieces have repeatedly fetched high prices in auctions worldwide. As of 2023, among the world's top ten [[List of most expensive watches sold at auction|most expensive watches ever sold at auctions]], nine were Patek Philippe watches. Among the top 58 most expensive watches sold at auction (over 2 million US dollars), 46 are Patek Philippe watches. A small part of the demand for auction pieces is driven by Patek Philippe themselves, as they are purchasing in the auction market to add to the collection of the Patek Philippe Museum in Geneva.<ref name="PPWSJ2010">Clerizo, Michael, [http://magazine.wsj.com/gatherer/how-much-is-it-worth/time-honored/ "Watch Auctions: Time-Honored: With their mystique, brands like Patek Philippe can command hundreds of thousands of dollars at watch auctions"], ''[[The Wall Street Journal]]'', April 29, 2010</ref><ref name="PPWSJ2007">Frank, Robert, [https://blogs.wsj.com/wealth/2007/10/08/all-that-glitters-may-not-be-gold/ "All That Glitters May Not Be Gold"], ''The Wall Street Journal'', October 8, 2007</ref><ref>{{cite web|url=http://www.patek.ch/contents/default/en/museum.html|title=Patek Philippe SA - Welcome to Our Official Website|author=Patek Philippe SA|access-date=24 May 2016}}</ref>

== Motto and slogan ==
One of Patek Philippe's company slogans is "You never actually own a Patek Philippe. You merely look after it for the next generation." The slogan was introduced when the company launched its "Generations" campaign in 1996.<ref>{{Cite web|url=https://www.hodinkee.com/articles/untold-story-patek-philippe-generations-advertising-campaign|title=The Untold Story Of Watchmaking's Most Iconic Advertising Campaign: The 'Generations' Campaign Of Patek Philippe|date=December 27, 2016|first1=Stephen|last1=Pulvirent|website=Hodinkee|language=en|access-date=2019-01-23}}</ref>

== Watch manufacturing ==
[[File:Tiffany's Patek Philippe Watch Collection 18.jpg|thumb|242x242px|A pocket watch in the Patek Philippe collection of [[Tiffany & Co.]], an authorized retailer and close business partner of Patek Philippe<ref>{{Cite web|url=https://www.hodinkee.com/articles/introducing-the-patek-philippe-ref-5396g-made-exclusively-for-tiffany-co|title=Introducing The Patek Philippe Ref. 5396G, Made Exclusively For Tiffany & Co.|date=November 15, 2012|website=Hodinkee|language=en|access-date=2019-01-30}}</ref><ref>{{Cite web|url=https://www.tiffany.com/watches/patek-philippe-tiffany/explore|title=Patek Philippe Watches {{!}} Tiffany & Co.|website=www.tiffany.com|language=en|access-date=2019-01-30}}</ref>|alt=]]
[[File:Patek-Philippe MG 2586.jpg|thumb|A Patek Philippe [[chronograph]] wristwatch|alt=|200x200px]]
Patek Philippe manufactures its own watch components.<ref name="Fortune-2018">{{Cite web |title=Patek Philippe crafts its future |url=http://fortune.com/2014/06/02/patek-philippe-watch/ |access-date=2018-12-11 |website=Fortune |language=en}}</ref> Like other Swiss manufacturers, the company produces mostly mechanical movements with [[Automatic watch|automatic]] or [[manual winding]] mechanism, but has also been producing [[quartz watch]]es.<ref>{{Cite web|url=https://www.patek.com/en/collection/movements|title=Patek Philippe {{!}} Watch Movements & Calibers|website=Patek Philippe SA|language=en|access-date=2019-01-11}}</ref> In fact, Patek Philippe was one of the twenty Swiss watch companies that founded the ''[[Quartz crisis#Beginning of the revolution|Centre Electronique Horloger]]'' and collaboratively developed the first Swiss quartz movements, such as the Beta 21 movement (1969) which was used by several manufacturers in their watches.<ref>{{Cite web|url=https://www.hodinkee.com/articles/the-beta-21|title=Collecting The First Swiss Quartz Movement: 5 Beta-21 Watches To Look For|date=June 24, 2015|first=Cara|last=Barrett|website=Hodinkee|language=en|access-date=2019-01-11}}</ref> In 1950s, the company even produced a prototype for a mechanical digital wristwatch, Ref. 3414.<ref>{{Cite web|url=https://www.watchprosite.com/patek-philippe/a-modern-version-of-ref-3414-called-cobra---/11.907283.6226783/|title=Patek Philippe - A modern version of Ref. 3414, called "Cobra" ...|date=2014-01-15|website=Watchprosite|language=en|access-date=2019-01-11}}</ref>

Patek Philippe popularized [[Complication (horology)|complications]] such as [[perpetual calendar]], [[double chronograph|split-seconds hand]], [[chronograph]], and [[minute repeater]] in mechanical watches.<ref>{{Cite web|url=https://blog.crownandcaliber.com/the-perpetual-calendar-complication-a-history/|title=The Perpetual Calendar Complication: A History|date=2018-06-21|website=Crown & Caliber Blog|language=en-US|access-date=2018-12-13|archive-url=https://web.archive.org/web/20190402195032/https://blog.crownandcaliber.com/the-perpetual-calendar-complication-a-history/|archive-date=2019-04-02|url-status=dead}}</ref><ref>{{Cite web|url=https://www.hodinkee.com/articles/a-detailed-survey-of-the-split-seconds-chronograph-and-its-cousins|title=In-Depth: A Detailed Survey Of The Split-Seconds Chronograph And Its Cousins|date=July 14, 2016|first=PH|last=Zhou|website=Hodinkee|language=en|access-date=2018-12-13}}</ref><ref>{{Cite web|url=https://www.watchcollectinglifestyle.com/home/insider-patek-philippe-minute-repeaters-history-explanation-and-10-facts-you-need-to-know-about-them|title=Insider: Patek Philippe Minute Repeaters. History, Explanation and 10 Facts You Need to Know About Them.|website=Watch Collecting Lifestyle|language=en-US|access-date=2018-12-13}}</ref> In 2009, the company announced that all of its future mechanical timepieces would be imprinted with the ''Patek Philippe Seal'' which requires a precision of -3/+2 seconds per day for diameters no less than 20&nbsp;mm and -5/+4 seconds per day for diameters less than 20&nbsp;mm, surpassing the highest industry standard of watch manufacturing and thus abandoning the ''Geneva Seal.''<ref>{{Cite web|url=https://journal.hautehorlogerie.org/en/patek-philippe-creates-its-own-seal/|title=Patek Philippe creates its own Seal – FHH Journal|website=journal.hautehorlogerie.org|language=en-US|access-date=2019-01-12}}</ref><ref>{{Cite web|url=https://www.patek.com/en/company/the-manufacture|title=Patek Philippe {{!}} Company {{!}} The Manufacture|website=Patek Philippe SA|language=en|access-date=2019-01-12}}</ref><ref>{{Cite web|url=https://www.fhs.swiss/eng/2009-04-24_696.html|title=The New Standard Of Quality - The Patek Philippe Seal|website=Federation of the Swiss watch industry FH|access-date=2019-02-05}}</ref>

In December 2018, [[World Wide Fund for Nature]] (WWF) released a report assigning environmental ratings for 15 major watch manufacturers and jewelers in Switzerland.<ref name="WWF-2018">{{Cite web |title=Environmental rating and industry report 2018 |url=https://www.wwf.ch/sites/default/files/doc-2018-12/2018_12_07_WWF%20Watch%20and%20Jewellery%20Report%202018_final_e_0.pdf |access-date=2019-01-19 |website=World Wide Fund for Nature}}</ref><ref name="Swissinfo-2019">{{Cite web |title=Swiss luxury watches fail to meet environmental standards |url=https://www.swissinfo.ch/eng/politics/benchmark-report_swiss-luxury-watches-fail-to-meet-environmental-standards/44628536 |access-date=2019-01-19 |website=SWI swissinfo.ch |date=19 December 2018 |language=en}}</ref> Patek Philippe was given the lowest environmental rating as "Latecomers/Non-transparent", suggesting the manufacturer has taken few actions addressing the impact of its manufacturing activities on the environment and climate change.<ref name="WWF-2018" /><ref name="Swissinfo-2019" />

=== Notable inventions and patents ===
Patek Philippe has invented over 20 basic [[Movement (clockwork)|calibre]]s and has received over 100 patents.<ref>{{Cite news|url=https://www.nytimes.com/2016/03/18/fashion/watches-patek-philippe.html|title=At Patek Philippe, 'the D.N.A. Comes In'|last=Liu|first=Ming|date=2016-03-17|work=The New York Times|access-date=2019-02-21|language=en-US|issn=0362-4331}}</ref> The following are some of the important contributions from Patek Philippe to the watchmaking industry.

*In 1845, patented keyless winding and hand-setting system, which received a bronze medal at the 1844 [[Industrial Expositions of Paris|Industrial Exposition]] in Paris.<ref name="Patek.com-1" />
* In 1868, created the first Swiss [[wristwatch]].<ref name="Patek.com-1" />
* In 1881, patented its precision regulator.<ref name="Patek.com-2">{{Cite web|url=https://www.patek.com/en/company/history|title=Patek Philippe {{!}} Company {{!}} History (1878-1931)|website=Patek Philippe SA|language=en|access-date=2019-01-11}}</ref>
* In 1889, patented [[perpetual calendar]] mechanism for pocket watches.<ref name="Patek.com-2" />
*In 1902, patented [[double chronograph]].<ref name="Patek.com-2" />
*In 1916, produced the world's first lady’s wristwatch with [[Complication (horology)|complication]] (No. 174 603, a five-minute [[Repeater (horology)|repeater]]).<ref name="Patek.com-2" />
*In 1923, launched the world's first [[Double chronograph|split-second chronograph]] wristwatch (No. 124 8244).<ref name="Patek.com-2" />
*In 1925, created the world's first perpetual calendar wristwatch (No. 97 975), with a compact movement for pendant watches created in 1898.<ref name="Patek.com-2" /><ref>{{Cite web|url=https://blog.crownandcaliber.com/the-perpetual-calendar-complication-a-history/|title=The Perpetual Calendar Complication: A History|date=2018-06-21|website=Crown & Caliber Blog|language=en-US|access-date=2019-02-20|archive-url=https://web.archive.org/web/20190402195032/https://blog.crownandcaliber.com/the-perpetual-calendar-complication-a-history/|archive-date=2019-04-02|url-status=dead}}</ref>
*In 1933, created the [[Henry Graves Supercomplication]], the most complicated mechanical watch in the world (24 complications) until 1989.<ref name="Patek-3" />
*In 1949, patented the ''[[Gyromax]]'' [[Balance wheel|balance]].<ref name="Patek-3">{{Cite web|url=https://www.patek.com/en/company/history|title=Patek Philippe {{!}} Company {{!}} History (1932-1949)|website=Patek Philippe SA|language=en|access-date=2019-01-11}}</ref>
*In 1956, created the world's first all-electronic clock which, in 1958, received the "Award for [[Miniaturization]]” in [[New York City|New York]].<ref name="Watch Collecting Lifestyle-2019">{{Cite web|url=https://www.watchcollectinglifestyle.com/home/experience-patek-philippe-celebrates-its-175th-anniversary-a-chronological-journey-of-its-history|title=Experience: Patek Philippe Celebrates its 175th Anniversary. A Chronological Journey of The Manufacture's Rich History.|website=Watch Collecting Lifestyle|language=en-US|access-date=2019-01-11}}</ref><ref name="Patek-4">{{Cite web|url=https://www.patek.com/en/company/history|title=Patek Philippe {{!}} Company {{!}} History (1950-1988)|website=Patek Philippe SA|language=en|access-date=2019-01-11}}</ref><ref>{{Cite web|url=https://doensen.home.xs4all.nl/i.html|title=History and Development of the Quartz Watch|website=doensen.home.xs4all.nl|access-date=2019-01-11}}</ref><ref name="Deployant-2017">{{Cite web|url=https://deployant.com/history-at-a-glance-the-story-of-patek-philippe/|title=History at a Glance: The Story of Patek Philippe -|date=2017-09-25|website=Deployant|language=en-US|access-date=2019-01-11}}</ref>
*In 1962, a [[tourbillon]] movement achieved the world's still-unbeaten timekeeping precision record for mechanical watches at [[Geneva Observatory]].<ref name="Patek-4" /><ref name="Deployant-2017" />
*In 1986, patented the secular perpetual calendar with retrograde date indication.<ref name="Patek-4" />
*In 1989, created the [[Calibre 89]], the most complicated mechanical watch in the world (33 complications) until 2015.<ref name="Patek-5" />
* In 1996, patented [[annual calendar]] mechanism and introduced the first annual calendar model Ref. 5035.<ref name="Patek-5">{{Cite web|url=https://www.patek.com/en/company/history|title=Patek Philippe {{!}} Company {{!}} History (1988–2018)|website=Patek Philippe SA|language=en|access-date=2019-01-11}}</ref><ref>{{Cite web|url=https://robbreport.com/style/watch-collector/history-comparison-annual-calendar-watches-eg17-2768783/|title=The Annual Calendar Mechanism is Truly a Modern Movement|last=Malcolmson|first=James D.|date=2017-12-24|website=Robb Report|language=en|access-date=2019-01-11}}</ref>
* In 2003/05, launched the annual calendar Ref. 5250, being the world's first watch with [[silicon]]-based (the ''Silinvar'' alloy'')'' [[lever escapement|escapement wheel]].<ref name="Patek-5" /><ref>{{Cite web|url=http://www.thepurists.net/patrons/members/wsw/ppforum/sil05/pp_technew.htm|title=The Purists.net, Patek Philippe 2005 technical innovations|access-date=January 23, 2009|archive-url=https://web.archive.org/web/20090215035058/http://www.thepurists.net/patrons/members/wsw/ppforum/sil05/pp_technew.htm|archive-date=February 15, 2009|url-status=dead}}</ref><ref>{{Cite web|url=https://quillandpad.com/2017/12/30/give-five-5-patek-philippes-advanced-research-limited-editions/|title=Give Me Five! All 5 Of Patek Philippe's Advanced Research Limited Editions|date=2017-12-30|website=Quill & Pad|language=en-US|access-date=2019-02-15}}</ref>
*In 2006, introduced the silicon-based ''Spiromax'' [[balance spring]].<ref name="Patek-5" />
*In 2008, introduced the ''Pulsomax'' silicon-based [[escapement]].<ref name="Patek-5" />
*In 2011, introduced the ''Oscillomax'' ensemble, combining the ''Spiromax'' balance spring, the ''Pulsomax'' escapement, and the ''GyromaxSi'' balance.<ref name="Patek-5" />
*In 2014, created the Grandmaster Chime Ref. 5175, one of the world's most complicated wristwatches (20 complications).<ref name="Patek-5" /><ref name="Bloomberg-2018a">{{Cite web|url=https://www.bloomberg.com/news/2014-10-13/patek-philippe-unveils-grandmaster-chime-the-world-s-most-complicated-wristwatch-ever-.html|title=Patek Philippe Unveils Grandmaster Chime: The World's Most Complicated Wristwatch (Ever)|website=www.bloomberg.com|access-date=2018-12-11}}</ref>

==Notable models==
===Most expensive pieces===
[[File:Patek-Philippe MG 2596.jpg|thumb|A Patek Philippe pocket watch|alt=|285x285px]]
{{main|List of most expensive watches sold at auction}}

* On November 28, 2012, the Patek Philippe Star Calibre 2000 Ref. 990/1 was sold at [[Christie's]] in [[Hong Kong]] for a final price of US$3.28 million ([[Hong Kong dollar|HKD]] 25,300,000), becoming the most expensive timepiece ever auctioned in [[Asia]] at the time.<ref name="Christies-2018b">{{Cite web|url=https://www.christies.com/about-us/press-archive/details?PressReleaseID=6029&lid=1|title=Results: Christie's Hong Kong Sale of Important Watches Realises HK$186,337,375 (US$24,167,957)|website=www.christies.com|language=en|access-date=2018-12-01}}</ref> The timepiece boasts 21 [[Complication (horology)|complications]], including [[Westminster Chimes]], [[Repeater (horology)|minute repeating]], lunar orbit and so on, and was made in 2008.<ref>{{Cite web|url=https://www.christies.com/lotfinder/lot_details.aspx?intObjectID=5638919|title=Patek Philippe (Star Calibre 2000, Ref. 990/1, Movement No. 3,200,005, Case No. 4,125,166, Circa 2008)|website=www.christies.com|language=en|access-date=2018-12-21}}</ref>
* On November 11, 2014, [[Patek Philippe Henry Graves Supercomplication|the Henry Graves Supercomplication]] was sold at [[Sotheby's]] Geneva Auction for a record-breaking US$23.98 million ([[Swiss franc|CHF]] 23,237,000), becoming the most expensive watch ever sold at auction and held the title until November 9, 2019.<ref name="Sothebys-Graves">{{Cite web|title=Patek Philippe (The Henry Graves Jr. Supercomplications)|url=http://www.sothebys.com/en/auctions/ecatalogue/2014/important-watches-ge1404/lot.345.html|website=Sotheby's}}</ref> The Supercomplication was made in 1933 for the prominent banker [[Henry Graves (banker)|Henry Graves Jr.]] The ultra-[[Complication (horology)|complicated]] pocket watch (having 24 [[Complication (horology)|complications]]) was the result of Graves' friendly horological competition with [[James Ward Packard]]. After Graves' death, the watch was held by his daughter, and then by his grandson until 1969, when it was sold to [[Seth G. Atwood]] who kept the watch in his renowned "[[Seth G. Atwood#Time Museum|Time Museum]]" in [[Rockford, Illinois]] until 1999.<ref name="Sothebys-Graves" /><ref>{{Cite web|url=https://www.hodinkee.com/articles/george-daniels-seth-atwood-documentary-roger-smith|title=Historical Perspectives: Rarely Seen Documentary Video Featuring George Daniels And Seth Atwood|date=June 21, 2018|first=Nicholas|last=Manousos|website=Hodinkee|language=en|access-date=2019-01-29}}</ref> The watch was auctioned for the first time at [[Sotheby's]] in December 1999 for a record-breaking US$11 million to [[Saud bin Muhammed Al Thani|Sheikh Saud Bin Mohammed Bin Ali Al-Thani]] of the [[Qatar]]i royal family.<ref>{{Cite web|url=https://www.independent.co.uk/news/people/news/sheikh-saud-bin-mohammed-bin-ali-al-thani-sheikh-who-became-qatars-culture-minister-and-spent-15bn-9866377.html |archive-url=https://ghostarchive.org/archive/20220525/https://www.independent.co.uk/news/people/news/sheikh-saud-bin-mohammed-bin-ali-al-thani-sheikh-who-became-qatars-culture-minister-and-spent-15bn-9866377.html |archive-date=2022-05-25 |url-access=subscription |url-status=live|title=Sheikh Saud Bin Mohammed Bin Ali Al-Thani: Sheikh who became Qatar's|date=2014-11-18|website=The Independent|language=en|access-date=2019-01-25}}</ref>
* On November 12, 2016, a Patek Philippe Ref. 1518 in steel took the title as the most expensive ''wristwatch'' ever sold at auction (until October 2017). Sold through [[Phillips (auctioneers)|Phillips]]' Geneva auction house, the watch fetched a final price of US$11.14 million (CHF 11,002,000).<ref name="Twentytwoten">[http://www.twentytwoten.com/919/most-expensive-wrist-watch-ever/ "Most Expensive Wrist Watch Ever Sold? Patek Philippe Ref. 1518"], ''Twentytwoten.com'', News, 12 Nov 2016</ref> This was the first time that a steel-case Ref. 1518 (only four were made in steel) went for auction; in fact, this piece was the first of the four steel Ref. 1518 manufactured, which features a [[chronograph]] and [[perpetual calendar]].<ref>{{Cite web|date=2020-02-09|title=The story of the Patek Philippe 1518|url=https://www.italianwatchspotter.com/the-patek-philippe-1518/?lang=en|access-date=2021-04-15|website=Italian Watch Spotter|language=en-US}}</ref>
*On November 9, 2019, Patek Philippe Grandmaster Chime Ref. 6300A-010 became the most expensive watch ever sold at auction, fetching US$31 million ([[Swiss franc|CHF]] 31,000,000) in Christie's Geneva auction.<ref name="Christies">{{Cite web|title=Patek Philippe Grandmaster Chime – The Grandmaster Chime reference 6300A-010|url=https://www.christies.com/lotfinder/lot_details.aspx?intObjectID=6227458&from=salesummary&intObjectID=6227458&lid=1|access-date=2019-11-11|website=Christie's|language=en}}</ref><ref name="Reddinger-2019" />
*On December 11, 2021, Patek Philippe Nautilus Ref. 5711 with Tiffany blue dial set a new world record for any wristwatch sold online, realizing US$6.5 million in Phillips New York auction.<ref name="Timeandwatches">{{Cite web|url=https://www.timeandwatches.com/2021/12/patek-philippe-nautilus-for-tiffany.html|title=Patek Philippe Nautilus for Tiffany sets a new world record for any wristwatch sold online}}</ref>
*On April 25, 2022, a likely unique Patek Philippe Ref. 2499 – featuring a rare pink-gold case, and even rarer signature on its center subdial from Gobbi, the Milan watch dealer – sold at Sotheby's in Hong Kong for $7.68 million (HKD 60,265,000), setting a new record as the most expensive Ref. 2499 ever sold at auction.<ref name="Sothebys-3">{{Cite web|url=https://watchesbysjx.com/2022/04/most-expensive-patek-philippe-2499-pink-gold-gobbi.html|title=Auction Watch: Sotheby’s Sets Record for Most Expensive Patek Philippe Ref. 2499|website=SJX Watches}}</ref>

=== Calatrava wristwatch ===
{{main|Patek Philippe Calatrava}}In 1932, Patek Philippe launched the first Calatrava model Ref. 96, which was designed by English horologist David Penney who was influenced by the [[Bauhaus]] art movement in Germany.<ref name="Patek.com-1" /><ref name="Watchfinder-2019">{{Cite web|url=http://www.watchfinder.com/articles/review-patek-philippe-calatrava-tra|title=Review: Patek Philippe Calatrava Travel Time|website=www.watchfinder.com|access-date=2019-01-14}}</ref><ref name="Truefacet-2018">{{Cite web|url=https://www.truefacet.com/guide/the-history-of-the-patek-philippe-calatrava/|title=The History of the Patek Philippe Calatrava {{!}} The Loupe, TrueFacet|date=2018-10-12|language=en-US|access-date=2019-01-14}}</ref> Originally, the Stern brothers, soon after they acquired Patek Philippe in 1932, introduced the Calatrava to help the company pass through the [[Great Depression]] smoothly.<ref name="Watchfinder-2019" /><ref name="Lim-2017">{{Cite web|url=https://ph.asiatatler.com/style/patek-philippe-and-its-german-art-movement-connection|title=Patek Philippe And Its German Art Movement Connection|last=Lim|first=Terence|date=2017-10-11|website=Philippine Tatler|language=en-PH|access-date=2019-01-14}}</ref>

The original Calatrava Ref. 96 was in production for more than 40 years, and its successor models include Ref. 2526, Ref. 3520, Ref. 5196 and so on.<ref name="Truefacet-2018" /><ref name="Clymer-2016b">{{Cite web|url=https://www.hodinkee.com/articles/the-patek-philippe-2526-and-why-its-a-watch-to-pay-attention-to|title=In-Depth: The Patek Philippe 2526, And Why It's A Watch To Pay Attention To|date=May 18, 2016|first=Benjamin|last=Clymer|website=Hodinkee|language=en|access-date=2019-01-14}}</ref> Known for its simple and elegant design, the Calatrava wristwatch has been a flagship model of Patek Philippe since its introduction.<ref name="Lim-2017" /><ref name="Clymer-2016b" /> Notably, the ''Calatrava Cross'' has been company's logo since 1887.<ref name="Haute horlogerie-2019" />

[[File:Patek Philippe 5131R-001 World Time in Rose Gold.jpg|thumb|160px|Patek Philippe 5131R-011 World Time wristwatch|alt=]]
=== World Time wristwatch ===
Patek Philippe World Time (''Heures Universelles'') collection was introduced in 1939, with Ref.1415 being the first model.<ref name="Forster-2017">{{Cite web|url=https://www.hodinkee.com/articles/the-patek-philippe-mens-world-time-ref-5230g-new-york-2017-special|title=Introducing: The Patek Philippe World Time Ref. 5230G New York 2017 Limited Edition|date=July 12, 2017|first=Jack|last=Forster|website=Hodinkee|language=en|access-date=2019-01-05}}</ref> The "World Time" [[Complication (horology)|complication]] is able to show the time for all 24 [[time zone]]s on the same watch and was invented by Swiss watchmaker Louis Cottier in 1931.<ref name="Forster-2017" /><ref>{{Cite web|title=Time Around The World: A History of Patek Philippe World Timers {{!}} The 1916 Company|url=https://www.the1916company.com/blog/patek-philippe-world-timers.html|access-date=2021-04-15|website=www.the1916company.com|language=en}}</ref> Cottier's invention attracted several watchmaking companies, while Patek Philippe was the first company to introduce a series of World Time wristwatches after forging a partnership with Mr. Cottier.<ref>{{Cite web|url=https://www.europastar.com/time-keeper/1004090024-world-time-patek-philippe-and-louis-cottier.html|title=World time: Patek Philippe and Louis Cottier|website=www.europastar.com|language=en|access-date=2019-01-05}}</ref> The successors to Ref. 1415 include Ref. 2523, Ref. 5230, Ref. 5531 (with [[minute repeater]]), and so on.<ref name="Forster-2017" />

As of 2018, Patek Philippe World Time collection (Ref. 1415, Ref. 2523) holds 6 spots among the 58 [[List of most expensive watches sold at auction|world's most expensive watches sold at auction]] (over 2 million US dollars), with the world record being 4.027 million US dollars (6,603,500 [[Swiss franc|CHF]]) made at [[Antiquorum]]'s Geneva auction on April 13, 2002.<ref>{{Cite web|url=https://catalog.antiquorum.swiss/en/lots/patek-philippe-ref-ref-1415-lot-26-608|title=Patek Philippe & Cie, Genève, No. 929693, case No. 656462, Ref. 1415 HU (Heures Universelles).|website=catalog.antiquorum.swiss|access-date=2019-01-05}}</ref><ref>{{Cite web|url=https://www.forbes.com/2008/02/28/most-expensive-watches-forbeslife-time08-cx_nr_0229watch_slide.html|title=By The Numbers: The World's Most Expensive Watches|last=Ruiz|first=Nicola|website=Forbes|language=en|access-date=2019-01-05}}</ref>

[[File:Patek-Philippe-Nautilus-5711.jpg|thumb|160px|Diagram of the Nautilus]]
=== Nautilus wristwatch ===
In 1976, Patek Philippe introduced the Nautilus collection after deciding it was time to produce an exclusive sport watch with finishes of the highest quality.<ref>{{Cite web|url=https://www.patek.com/en/company/history|title=Patek Philippe {{!}} Company {{!}} History|website=Patek Philippe SA|language=en|access-date=2019-01-05}}</ref><ref name="Christies-2019">{{Cite web|url=https://www.christies.com/features/Secrets-of-the-Patek-Philippe-Nautilus-7706-1.aspx|title=Secrets of the Patek Philippe Nautilus {{!}} Christie's|website=www.christies.com|language=en|access-date=2019-01-05}}</ref> The first model was Ref. 3700 and was made of steel.<ref>{{Cite web|url=https://monochrome-watches.com/history-patek-philippe-nautilus-part-1-nautilus-3700/|title=History of the Patek Philippe Nautilus, Part 1 - The Birth of an Icon, the 3700 (1976/1990)|date=2016-10-11|website=Monochrome Watches|language=en-US|access-date=2019-01-05}}</ref> It was designed by Swiss watchmaker [[Gérald Genta]], who previously designed the Royal Oak collection for [[Audemars Piguet]], and was released by Patek Philippe during the [[quartz crisis]] in the hope that it would help re-attract people's attention to high-end Swiss mechanical watches.<ref name="Christies-2019" />

The Nautilus collection played a key role in Patek Philippe's overall marketing strategy as it had to refresh the brand image while perpetuating tradition. The target was represented by dynamic business managers of the new generations.<ref>{{Citation|title=History of the Patek Philippe Nautilus, 2015|url=http://www.timeandwatches.com/p/history-of-patek-philippe-nautilus.html}}</ref> The Nautilus wristwatch has become one of the most popular collections from Patek Philippe, and the Ref. 5711 & 5712 models, which the company introduced in 2006 to celebrate the 30th anniversary of the collection, are among the most popular models.<ref name="Christies-2019" /><ref>{{Cite web|url=https://www.watchtime.com/featured/luxury-in-steel-a-history-of-the-patek-philippe-nautilus/|title=Luxury in Steel: A History of the Patek Philippe Nautilus|last=Koch|first=Jens|date=2018-12-14|website=WatchTime - USA's No.1 Watch Magazine|language=en-US|access-date=2019-01-05}}</ref>

=== Perpetual calendar chronograph ===
Patek Philippe [[perpetual calendar]] [[chronograph]] was introduced in 1941, with Ref. 1518 being the first model.<ref name="Christies-2018a" /> On November 12, 2016, a Ref. 1518 in steel became the most expensive wristwatch ever sold at auction (until October 2017), fetching a record-breaking US$11.14 million (11,002,000 [[Swiss franc|CHF]]) in Geneva (through [[Phillips (auctioneers)|Phillips]]' auction house).<ref name="Twentytwoten" />

As the successor, Ref. 2499 is widely considered to be one of the greatest watch models in the world.<ref name="Christies-2018a">{{Cite web|url=https://www.christies.com/features/Patek-Philippe-perpetual-chronograph-wristwatches-7654-1.aspx|title=Collecting guide: Patek Philippe perpetual chronograph wristwatches|website=www.christies.com|language=en|access-date=2018-12-15}}</ref><ref name="Sothebys-2">{{Cite web|url=https://www.sothebys.com/en/articles/one-of-the-most-important-vintage-wristwatches-in-the-world|title=One of the Most Important Vintage Wristwatches in the World|website=Sotheby's}}</ref><ref>{{Cite web|url=https://www.phillipswatches.com/geneva-auction-highlight-the-rose-gold-patek-philippe-ref-2499-third-series/|title=Geneva Auction Highlight: The Rose Gold Patek Philippe Ref. 2499 (Third Series)|website=www.phillipswatches.com|access-date=2018-12-15}}</ref><ref>{{Cite web|url=https://www.hodinkee.com/articles/understanding-the-entire-lineage-of-patek-philippe-perpetual|title=Reference Points: Understanding The Entire Lineage Of Patek Philippe Perpetual Calendar Chronographs|date=March 11, 2014|first=Benjamin|last=Clymer|website=Hodinkee|language=en|access-date=2019-01-26}}</ref><ref>{{Cite web|url=http://watchtime.me/the-knowledge/article/1151/patek-philippe-ref-2499-a-brief-history-of-a-classic|title=Patek Philippe Ref. 2499: A Brief History of a Classic|website=watchtime|language=en|access-date=2018-12-15}}</ref> Historically, only 349 pieces of Ref. 2499 were made from 1950 to 1985 - around 9 pieces each year.<ref name="Christies-2018a" /><ref name="Sothebys-2" /> Over the course of 35 years, four series of Ref. 2499 were introduced, exerting a strong influence on the watch designs of many other renowned watchmakers.<ref name="Christies-2018a" /> As of June 2019, Ref. 2499 holds eleven spots among the 59 [[List of most expensive watches sold at auction|world's most expensive watches sold at auction]] (over 2 million US dollars) and at least 18 pieces of Ref. 2499 have been auctioned for more than 1.5 million US dollars, with the world record being 3.880 million US dollars (3,915,000 [[Swiss franc|CHF]]) made at [[Sotheby's]] Geneva auction on November 13, 2018.<ref>{{Cite web|url=http://www.sothebys.com/en/auctions/ecatalogue/2018/important-watches-ge1804/lot.220.html|title=Patek Philippe (Retailed by Asprey: Ref 2499)|website=Sotheby's}}</ref> The successors to Ref. 2499 include, in chronological order, Ref. 3970, Ref. 5970 and Ref. 5270.<ref name="Christies-2018a" />

=== Sky Moon Tourbillon ===
[[File:Patek-Philippe MG 2583.jpg|thumb|160px|Patek Philippe Ref. 5002 Sky Moon Tourbillon]]
Patek Philippe Sky Moon Tourbillon wristwatch was introduced in 2001, with Ref. 5002 being the first model.<ref name="Sothebys-2014">{{Cite web|url=http://www.sothebys.com/en/auctions/ecatalogue/2014/important-watches-n09159/lot.30.html|title=The Titanium Collection: Patek Philippe 5001T|website=Sotheby's|access-date=2019-01-29}}</ref><ref name="Doerr-2019">{{Cite web|url=https://www.forbes.com/sites/elizabethdoerr/2013/05/30/the-patek-philippe-sky-moon-tourbillon-earns-a-place-in-horological-history/|title=The Patek Philippe Sky Moon Tourbillon Earns A Place In Horological History|last=Doerr|first=Elizabeth|website=Forbes|language=en|access-date=2019-01-28}}</ref> The wristwatch has two dials and contains 12 complications including [[tourbillon]], [[minute repeater]], sky chart, and moon phase & orbit. In 2013, the company introduced the second model of Sky Moon Tourbillon, Ref. 6002, also with 12 complications.<ref name="Sothebys-2014" /> The new model took 7 years of research and development, while the engraving on each piece alone took more than 100 hours.<ref name="Frank-2013">{{Cite web|url=https://www.cnbc.com/2013/09/13/1-million-watchand-you-have-to-apply-to-buy-it.html|title=$1 million watch—and you have to apply to buy it!|last=Frank|first=Robert|date=2013-09-13|website=www.cnbc.com|access-date=2019-01-30}}</ref><ref name="Revolution-2013">{{Cite web|url=https://www.revolution.watch/live-images-full-report-patek-philippe-launches-the-sky-moon-tourbillon-ref-6002g-in-geneva/|title=Patek Philippe Launches The Sky Moon Tourbillon|date=2013-06-01|website=Revolution|language=en-US|access-date=2019-01-30}}</ref>

Sky Moon Tourbillon was the most complicated wristwatch from Patek Philippe until 2014.<ref name="Sothebys-2014" /><ref name="Doerr-2019" /> It is estimated that only 3 - 5 pieces are made each year, and the price for each piece is over US$1.2 million.<ref name="Doerr-2019" /> However, every purchase of the piece requires an application from the buyer and has to be approved by Patek Philippe President Thierry Stern.<ref name="Frank-2013" /><ref name="Revolution-2013" /> On October 2, 2018, a Sky Moon Tourbillon 6002G was auctioned by [[Poly Auction]] in [[Hong Kong]], fetching US$2.707 million ([[HKD]] 21,240,000), making it one of the [[List of most expensive watches sold at auction|most expensive watches ever sold in auction]].<ref>{{Cite web|url=https://www.polyauction.com.hk/en/buy-and-sell/auctions/lot-listings/194/details/28550/?currencyType=USD|title=Patek Philippe {{!}} Poly Auction Hong Kong|website=www.polyauction.com.hk|access-date=2019-01-28}}</ref>

===150th anniversary edition===
{{main|Patek Philippe Calibre 89}}In 1989, Patek Philippe created [[Calibre 89]], then the most complicated mechanical watch ever made, for its 150th anniversary.<ref name="Forster-2016" /> Calibre 89 holds 33 complications, including the date of Easter, time of sunrise, [[equation of time]], [[sidereal time]], and many other indicators. 1,728 unique parts allow [[sidereal time]], a 2,800 star chart, and more.<ref name="Antiquorum-2018a" /><ref name="Antiquorum-2018b" /> In addition, Calibre 89 is able to add a day to February for [[leap year]]s while leaving out the extra day for every 100 year interval.<ref>{{Cite web|date=2017-05-11|title=Patek Philippe Calibre 89, the 20th century's most complicated watch, heads to auction|url=https://newatlas.com/patek-philippe-calibre-89-auction/49458/|access-date=2021-04-15|website=New Atlas|language=en-US}}</ref><ref>{{Cite web|title=Patek Philippe Caliber 89, The World's Most Complicated Watch For 26 Years, To Be Auctioned By Sotheby's In May 2017 Important Watches Sale – Quill & Pad|url=https://quillandpad.com/2017/03/10/patek-philippe-caliber-89-worlds-complicated-watch-26-years-auctioned-sothebys-may-2017-important-watches-sale/|access-date=2021-04-15|website=quillandpad.com}}</ref>

Only four pieces of Calibre 89 were ever manufactured by Patek Philippe, with one in white gold, one in yellow gold, one in rose gold, and one in platinum.<ref name="Forster-2016">{{Cite web|url=https://www.hodinkee.com/articles/a-patek-philippe-caliber-89-for-sale-at-christies-new-york|title=Hands-On: A Patek Philippe Caliber 89, For Sale At Christie's New York|date=May 23, 2016|first=Jack|last=Forster|website=Hodinkee|language=en|access-date=2018-12-13|archive-url=https://web.archive.org/web/20181123112127/https://www.hodinkee.com/articles/a-patek-philippe-caliber-89-for-sale-at-christies-new-york|archive-date=2018-11-23|url-status=dead}}</ref><ref>{{Cite web|url=https://www.hodinkee.com/articles/sothebys-patek-philippe-caliber-89-may-2017|title=Auction Report: Patek Philippe Caliber 89 Fails To Sell (Again)|date=May 14, 2017|first=Arthur|last=Touchot|website=Hodinkee|language=en|access-date=2018-12-13}}</ref> The yellow-gold and the white-gold Calibre 89 were sold at auctions by [[Antiquorum]] in 2009 and 2004, respectively, and both watches currently rank among the top ten [[List of most expensive watches sold at auction|most expensive watches ever sold at auction]], with final prices over 5 million US dollars.<ref name="Antiquorum-2018a">{{Cite web|url=https://catalog.antiquorum.swiss/en/lots/patek-philippe-lot-222-364?browse_all=1&page=1&q=Patek+Philippe+Calibre+89|title=The Yellow Gold Calibre 89 Patek Philippe|website=catalog.antiquorum.swiss|archive-url=https://web.archive.org/web/20181124003703/https://catalog.antiquorum.swiss/en/lots/patek-philippe-lot-222-364?browse_all=1&page=1&q=Patek+Philippe+Calibre+89|archive-date=2018-11-24|access-date=2018-11-23|url-status=dead}}</ref><ref name="Antiquorum-2018b">{{Cite web|url=https://catalog.antiquorum.swiss/en/lots/patek-philippe-lot-51-301?browse_all=1&page=2&q=Patek+Philippe+Calibre+89|title=Patek, Philippe, Genève. The white gold "Calibre 89"|website=catalog.antiquorum.swiss|archive-url=https://web.archive.org/web/20181124003638/https://catalog.antiquorum.swiss/en/lots/patek-philippe-lot-51-301?browse_all=1&page=2&q=Patek+Philippe+Calibre+89|archive-date=2018-11-24|access-date=2018-11-23|url-status=dead}}</ref><ref>{{Cite news|url=https://www.hodinkee.com/articles/a-patek-philippe-caliber-89-for-sale-at-christies-new-york|title=Hands-On: A Patek Philippe Caliber 89, For Sale At Christie's New York|work=Hodinkee|access-date=2018-11-23|language=en|archive-url=https://web.archive.org/web/20181123112127/https://www.hodinkee.com/articles/a-patek-philippe-caliber-89-for-sale-at-christies-new-york|archive-date=2018-11-23|url-status=dead}}</ref><ref>{{Cite news|url=https://www.jckonline.com/editorial-article/patek-philippe-calibre-89-sold-for-5-million/|title=Patek Philippe Calibre 89 sold for $5 million|work=JCK|access-date=2018-11-23|language=en-US|archive-url=https://web.archive.org/web/20181123112137/https://www.jckonline.com/editorial-article/patek-philippe-calibre-89-sold-for-5-million/|archive-date=2018-11-23|url-status=dead}}</ref>

=== 175th anniversary edition ===
In 2014, Patek Philippe introduced the Grandmaster Chime Ref. 5175, the most complicated wristwatch ever built by the manufacturer (with 20 complications, but no [[tourbillon]]), to celebrate its 175th anniversary.<ref name="Bloomberg-2018a" /><ref>{{Cite web|url=https://www.hodinkee.com/articles/introducing-patek-philippe-grandmaster-chime-ref-5175r|title=Introducing The Patek Philippe Grandmaster Chime Ref. 5175R, Their Most Complicated Wristwatch Yet|date=October 21, 2014|first=Evald|last=Muraj|website=Hodinkee|language=en|access-date=2018-12-11}}</ref> Only seven pieces of Ref. 5175 were created, with one permanently residing in the Patek Philippe Museum in Geneva. The sale price for each of the other six pieces was 2.5 million [[Swiss franc|CHF]] (2.6 million US dollars).<ref name="Bloomberg-2018a" /><ref name="Wright-2014">{{Cite web|url=https://www.cnbc.com/2014/10/14/patek-philippe-unveils-26m-watch.html|title=Patek Philippe unveils $2.6M watch|last=Wright|first=Erica|date=2014-10-14|website=www.cnbc.com|access-date=2018-12-11}}</ref>

In 2016, Patek Philippe introduced the Grandmaster Chime Ref. 6300, succeeding the Grandmaster Chime Ref. 5175.<ref>{{Cite web|url=https://www.patek.com/en/collection/grand-complications/6300G-001|title=Patek Philippe {{!}} Grand Complications Grand Master Chime 6300G-001|website=Patek Philippe SA|language=en|access-date=2019-01-05}}</ref><ref name="Clymer-2016a">{{Cite web|url=https://www.hodinkee.com/articles/the-grandmaster-chime-reference-6300g-the-most-complicated-patek-now-in-white-gold|title=Introducing: The Grandmaster Chime Reference 6300G – The Most Complicated Patek, Now In White Gold|date=March 17, 2016|first=Benjamin|last=Clymer|website=Hodinkee|language=en|access-date=2019-01-05}}</ref> Ref. 6300 also has 20 complications, including [[grande sonnerie]], [[minute repeater]], and [[Alarm clock|alarm]] with time strike (but without tourbillon), with the sale price over 2.2 million US dollars.<ref name="Clymer-2016a" /><ref>{{Cite web|url=https://www.bloomberg.com/news/articles/2016-04-06/patek-philippe-grandmaster-chime-ref-6300-is-handsome-chill|title=Patek Philippe Goes 'Simple' With a $2.3 Million Wristwatch|website=www.bloomberg.com|access-date=2019-01-05}}</ref> The purchase of each piece requires an application from the buyer and has to be approved by Patek Philippe President Thierry Stern.<ref name="Wright-2014" />

=== Cubitus wristwatch===
In 2024, Patek Philippe introduces a new collection called Cubitus, presenting an exclusive interpretation of the “casual chic” style.<ref>{{Cite web|url=https://www.patek.com/en/collection/cubitus|title=Cubitus Collection|website=Patek Philippe SA}}</ref>

==See also==
{{Portal|Companies|Switzerland}}
*''[[Boule de Genève]]''
*[[List of watch manufacturers]]
*''[[Manufacture d'horlogerie]]''
*[[Patek Philippe Calibre 89]]
*[[Patek Philippe Henry Graves Supercomplication]]

==Notes==
{{notelist}}

==References==
{{Reflist}}

== Further reading ==
* [http://www.patek.com/contents/default/en/library.html Library of reference books on Patek Philippe watches and company] - Patek Philippe website
* Kepa, Marek, [http://culture.pl/en/article/watches-for-royalty "Watches for Royalty"], ''Culture.pl'', July 27, 2015
* Liu, Ming, [https://www.nytimes.com/2016/03/18/fashion/watches-patek-philippe.html?hpw&rref=fashion&action=click&pgtype=Homepage&module=well-region&region=bottom-well&WT.nav=bottom-well&_r=0 "At Patek Philippe, 'the D.N.A. Comes In'"], ''The New York Times'', March 17, 2016
* Thompson, Joe, [http://www.watchtime.com/featured/family-values-patek-philippes-thierry-philippe-stern/ "Family Values: Patek Philippe’s Thierry and Philippe Stern"], ''WatchTime Magazine'', August 8, 2012
* Walston, Oliver. [https://web.archive.org/web/20101229073137/http://www.lussoluxury.com/feature/69/david-and-goliath "David and Goliath"], ''[[Lusso (magazine)|Lusso]]'' magazine, August 8, 2009.
* Mazzardo, Alessandro. [https://www.timeandwatches.com/p/history-of-patek-philippe-nautilus.html "History of the Patek Philippe Nautilus"], ''Time and Watches'', Dec 16, 2021.

==External links==
{{Commons category|Patek Philippe & Co.}}
* {{official|https://www.patek.com/}}
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{{Patek Philippe|state=expanded}}
{{Purveyors to the Russian Imperial Family}}
{{Authority control}}

{{DEFAULTSORT:Patek Philippe and Co.}}
[[Category:Manufacturing companies established in 1851]]
[[Category:Swiss companies established in 1851]]
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[[Category:Watch manufacturing companies of Switzerland]]
[[Category:Patek Philippe]]