5 Tips for Buying a Patek Philippe Watch at Auction

S o you’re ready to dive into collecting one of the most beloved watch brands on Earth. Congratulations! Patek Phillipe, a Swiss luxury watchmaker, was founded in 1839, and horologists and collectors have snapped up their limited releases ever since. Known for their stunning craftsmanship and multiple complications, Patek Phillipe watches tend to come with a hefty price tag attached, so it’s worth knowing all you can about the brand that boasts everyone from Princess Diana to Jay-Z as fans before you hit “bid.”

We talked to Vice President and watch specialist at Sotheby’s Vincent Brasesco to get his tips on buying a Patek Phillipe at auction.

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The Complete Guide to Patek Philippe Watch Collecting

Brasesco is firm on this: budget is the best place to start. Since Patek Phillipe boasts quite a broad model range, prices can accordingly vary widely. The price point you settle on will determine what’s available to you. For example, if you have $10,000 to spend, you’re going to have a very small list of watches to choose from. If your budget is $100,000, then some of the more iconic references (like the Patek Philippe Nautilus reference 5711) will be available to you.

Of course you could always start with a particular model and go from there but, for most, it’s more realistic to find your comfort zone and then see what’s out there in that price point.

Patek Philippe is well known for elegant, almost artistically rendered watches, and they’ve been around for so long that they’ve got an incredibly rich back catalogue. Their perpetual calendar dials are particularly beautiful and, often, extraordinarily valuable. But they make simpler, sportier timepieces as well. It’s a good idea to get a sense of the brand as a whole before you dial in (see what we did?) on a style.

Found a watch you’re interested in? Go see it in person. Attend an auction preview. Sotheby’s puts on traveling exhibitions around the world that are staffed by specialists who will be able to explain the nuances of each watch. Often, they can get into the weeds on details that might not be readily available from a picture or catalogue description.

Aside from using the specialists as a resource. Brasesco also recommends trying the watch on. Watches come in all sorts of different shapes and sizes and there’s no telling whether you will like the way it fits on your wrist, even if you love it on someone else.

One of the most reasonably priced Patek Phillipe’s is also one of the most iconic. The Patek Philippe Calatrava family of timepieces has changed aesthetic over time, but has been in continuous production since the 1930. Their time-only core collection is pretty much as pared-back as they come. At most, the Calatrava will also include a date, but this is not a particularly complicated collection.

Brasesco suggests doing your research: a lot of people collect the Calatrava because it’s emblematic of the period in which it’s made. One from the 1960s, for example is a bit space-agey, will one from the 1970s has a disco vibe. If you want to really build a collection, you could very easily specialize in Calatravas.

As previously mentioned, Patek Phillipe is famous for their line of Complications and Grand Complications. The complication to collect – “the mac daddy of standard production,” says Brasesco – is the perpetual calendar chronograph. This complication (the first of its kind in 1925) is the standard production grail from Patek Phillipe, and although they have invented and innovated many many more complications since, the perpetual calendar chronograph is the one to own, and the one that often sets records at auction (which brings us back to the first tip).

At Sotheby’s our experts have brought a wide range of extraordinary Patek Philippe watches to market, making us well placed to advise clients on the sale or acquisition of a Patek Philippe watch. Work with Sotheby's specialists and in doing so be part of our community of passionate watch enthusiasts and collectors.

• Explore upcoming watch auctions across the globe, frequently featuring Patek Philippe examples with excellent provenance
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Trust our worldwide network of leading Patek Philippe specialists from a globally renowned auction house with a 280 year history.