How to Value a Patek Philippe Watch?

With the luxury watch market catapulting into one of the most desirable investment portfolios of today, it has become more necessary than ever before to be clued up on the details and values of these timepieces. Patek Philippe are one of the most valuable and collectable brands in this market, producing functional timepieces that are considered works of art in their own right.

^{A Patek Philippe Calatrava Black Dial}

^{Sold for £18,500}

Here, we take a closer look at what factors should be considered when determining the value of these watches.

Reputation: Patek Philippe has produced some of the most complicated watches in history, created with impeccable craftsmanship and exceptional quality materials, the prestigious brand reputation represents a premium value.

Reference and Serial numbers: Determining the exact Patek reference number is vital as it specifies the model, material, style, and date of production. Original papers will contain this information, but they can also be located on the watch. With a solid case back, the numbers will be on the inside of the case back. If it has an exhibition case back, the reference numbers will be located on the inside of the metal ring that surrounds the sapphire crystal case back. Patek serial numbers are engraved onto the movement and are unique to each watch. If the case back is solid, it will need to be removed by a professional to obtain these details.

^{A stunning Patek Phillippe lady's dress watch}

^{Sold for £14,000}

Rarity: Vintage and pre-owned Patek Philippe watches are highly sought after. As the scarcity of these examples grows, so too does the value. Patek Philippe is estimated to produce around 60,000 new watches each year – this is significantly lower than other brands such as Rolex, making them even more elusive. Limited editions could also see a significant appreciation in the value depending on how many were released, in what year and for what purpose. Some of the most popular models are the Complications, Grand Complications, Golden Ellipse, Nautilus, Aquanaut, and Calatrava. The rarer the watch, the greater the value.

Condition: All aspects of condition will be considered in the valuation including scratches, nicks, dents, bracelet stretching, functionality and missing links. Minor damage often doesn’t affect the value. Service history and maintenance will also play a role, the use of unoriginal parts for repairs or poor care of the movement will devalue the watch.

^{A fine and rare Patek Philippe Nautilus}

^{Sold for £38,000}

Authenticity: Proof of authenticity can increase the value of a Patek watch. Original boxes, packaging, warranty cards, paperwork and receipts offer validation and security for potential resale. Every Patek Philippe watch originally purchased from an authorised dealer, will come with a Certificate of Origin. If this certificate is lost, a replacement will not be issued. However, Patek Philippe has an archive of all watches produced since 1839, and they allow customers to purchase an Extract from the Archives which will provide information including timepiece type, date manufactured, date sold, calibre, style number, case number, movement serial number, materials used, dial type, and bracelet type. At Dawsons our expert in-house watch appraisers will be able to confirm authenticity in the absence of any supporting documentation.

Buyers of Patek Philippe watches will often be serious collectors and have high expectations, therefore it is imperative that an accurate assessment of all these factors is conducted.

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Do you have a luxury watch that you are considering selling?

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Please contact our team of watch specialists today for sales advice. We would be delighted to help:

0207 431 9445 / info@dawsonsauctions.co.uk