PATEK PHILIPPE: PRICE INCREASE 2020 OCT
Patek Philippe has just increased the retail price across the board of all their models! Following suit after Audemars Piguet.
In the Aquanaut line, the price increment ranges from 7.40% to 10.51%. The classic plain 5167A increased a base 10%, while the gold plain variants increased over 10%, while the popular travel time 5164A increase by 10.52%.
Now moving on the ever-popular Nautilus, the price increment ranges from 6.99% to 11.11%. The ever popular 5711/1A in blue has increased about 10.15%, and the 5980/1R increased about 9.98%.
The date only watches overall has a higher increase in price percentage wise ranging above 10%, no surprises there as they have been the most sought after. Comparing the increase in date only watches to the most complicated steel Nautilus 5990/1A only increased 7% and the flyback chronograph Aqauanaut 5968A increased by 9.53%.
Something noteworthy is that almost all the gold pieces in the sports line has risen at least 10% such as the 5711/1R with a 11.11% increase and the Aqaunaut Jumbo 5168G with a 10.33% increase. This high increase however can only be seen in the date only models as the more complicated gold watches did not increase as much percentage wise. This could probably be due to the rise in gold prices.
Moving on from the hype models to the bread and butter of Patek Phillipe, the most undervalued line of Patek Phillipe, their Grand Complication and Complication line.
Next, we will be covering what makes Patek Phillipe being dubbed as the Rolls Royce of watchmaking, from Weekly Calendars to Perpetual Calendars, and their highly complicated watches.
What’s noticeable is that the percentage increase is not as great as the ones in the sports line up, rising a range from 4.39% to 14.5% in their Complication line up and 4.4% to 7.99% in the Grand Complication line up. Do note that these watches do carry a higher price tag and have a higher increase value-wise.
The Annual Calendars with the Moonphase Ref 5146 has a very healthy increase percentage-wise of 14.5% and 9.86% in their yellow gold and rose gold/white gold, respectively.
The ever-popular Patek Philippe Celestial Ref 6102R-001 increased by 7.64% and is one of the highest in the two categories. Another interesting thing to note is that the materials yellow gold and platinum have the highest increase percentage-wise.
For the final section, will be moving to the staple of Patek Philippe’s line, the Grand Classique Calatrava. Known for its clean design and simple look that gravitates towards the minimalists.
The spread of the increment ranges from 4.02% to 18.18%, the highest of it being the Ref. 5196J in yellow gold. Stay tuned to find out why is there such a high increase in a normal yellow gold watch that only displays the sub-seconds. The white and rose gold variants rose by a healthy 8.70%.
The Ref. 5227 line that has a date window and secondhand increase by 13.15% in their yellow gold variant and 7.78% in their white and rose gold variants.
What is interesting to note is that the ladies’ line did not experience such a huge growth percentage-wise. The 4897-line increased by 4.37% and the 7200-line increased by about 6.18% to 6.46%. This is not surprising as the Ladies Calatrava has not always been the best of sellers.
The 4978/400G with the pave set dial has increased 5.97% and the 4899/910G with the beautiful hand engraved mother of pearl dial increased a whopping 6.70%. This is astounding due to the nature of their high price tag and the intrinsic skills required to make these watches and a probable increase in material cost led to these huge increases.
To wrap up on the Patek Philippe retail price increase, we have something special. An observation that not many people will notice. If you paid close attention to our previous posts, you’ll notice that yellow gold models in the Calatrava and Complications line have the largest increase in retail price percentage-wise, an 18.18% increase for the Ref. 5196J and a 14.5% increase for the Ref 5146J.
Why is that so? Before the price increase, yellow gold models retail for less than its’ white and rose gold counterparts. The 5196J retails for $27,500 SGD while its’ 5196R/5196G white and rose gold counterparts’ retails for $29,900 SGD, an 8% difference.
After the price increase on 1st October, the price of all yellow gold, rose gold and white gold have all been standardized to $32,500 SGD. This is a smart move by Patek to increase demand for the yellow gold and it applies to models in the Calatrava and Complications line. Interestingly, the models in the Grand Complications still follow the old pricing strategy where the yellow gold is cheaper than its’ white and rose gold variants.
For more information, visit: www.patek.com