What’s It Worth? Patek Philippe – The Consummate Swiss Watchmaker

The inspired creations of Swiss watchmaker Patek Philippe & Co. are regularly considered the most prestigious and collectible of timepieces.

In business since 1851, Patek Philippe began as a collaboration between Antoni Norbert de Patek and Jean Adrien Philippe (inventor of the keyless winding mechanism). In the early 1850s through the 1860s the movements were unremarkable, but their cases extraordinary. Later, they improved and invented new ways to tell time.

Over the years, Old Northeast Jewelers has specialized in vintage Patek Philippe timepieces, and has owned some nearly priceless examples. Center right (a) is a picture of a 1950s moon phase perpetual calendar repeater that we sold for an heir of the original owner. It was in mint condition in the original box and we sold it for our customer for $100,000.

We have sold a single Patek Philippe watch for $400,000. Recently, a rare Ref. 2523 – which we sold in 1989 for a paltry $220,000 – resurfaced after 26 years and brought a record $2,300,000. (Yes, I wish I had kept that one!)

On the practical side, we have sold for our clients the following watches:

  • A 1940s-era Ref. 2420 (b) with fancy lugs for $4,000
  • A plain, no-second-hand Calatrava men’s watch for $2,500
  • A platinum and gold pocket watch for $2,600
  • A Ref. 2486 large rose-gold square men’s watch for $5,500
  • And a Patek Philippe men’s watch by Gübelin that brought less than $6,000, since the band was shortened. Collectors prefer full-sized bands.

Ladies’ Patek Philippe watches are also desirable and we buy them as well, but they bring considerably less than the men’s watches. We recently bought the rights to the iconic Patek Philippe book (c) and are involved in updating it for sale to the public. Please note that pre-1960 Patek Philippe moon phase chronographs like the one on the book’s cover can bring $100,000 or more.

Whether you are a jeweler, dealer, collector or private citizen, we want to bid on your vintage Patek Philippe watch.

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