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Why is the Patek Philippe Nautilus so expensive now?
There is no denying that Patek Philippe is one of the top watch companies in the world. And when you ask a group of horology enthusiasts about Patek, “Nautilus” is the obvious and most frequently used name to describe the brand.
But many people still wonder why the Patek Philippe Nautilus is so pricey for a watch that is made of stainless steel and has only a date with three hands and a date display. Why are people prepared to spend six figures on the Nautilus because it is so unique? Does the Nautilus Bubble Exist? Let’s look more closely.
Why Patek Philippe Nautilus is so expensive
By all means, the Patek Philippe Nautilus is a true jewel. The Patek Philippe Nautilus watch signifies luxury, versatility, value, and quality in addition to the hype, so if you’re wondering why it’s so pricey, the explanation is actually rather straightforward. Let’s examine the cost of Patek Philippe Nautilus watches in more detail. Below are seven reasons.
- Quality
This is the most obvious one: why is Nautilus so pricey. The brand Patek Philippe connotes quality. both in structure and design. You are aware that this watch was made by experts who may have worked on it for months or perhaps years. The quality control requirements are very high. The quality control requirements are very high. The Patek Philippe archives have a searchable “extract” for each watch. This is true for every model because hardly any other watch brand can provide that level of assurance. - Prestige
The allure of the Patek Philippe brand can hardly be overstated. It is often believed to be the most prestigious luxury watch company in the world. The name foretells tastefulness. It displays the sophistication and taste of its owner. - Versatility
Many concur that the Patek Philippe Nautilus Ref 5711/1A would be the best option if you could only own one watch. You may wear this watch everywhere and on any occasion.
Wear it to the workplace, the court, hey, wear it to the beach with shorts. The dial is black and blue and the case is water resistant up to 120 meters. The Nautilus was initially intended to be a high-end sports watch, but it has evolved into an iconic design. Celebrities, athletes, and prosperous businesspeople from all over the world adore it.
- Capital Value
Many watch collectors typically consider the word “investment” to be dirty. After all, purchasing a watch should be motivated by a desire to wear it, not by concern that its cost might increase. The reality is wholly different.
Luxury watch companies like Patek Philippe consistently maintain its value. - Hype
It’s a done deal. The most hyped watch in the world is the Patek Philippe Nautilus Ref. 5711. There is no denying that the Ref 5711’s value has been greatly boosted by hype. Nobody knows how long this will continue. - Scarcity
The exact annual production volumes for Patek Philippe remain a closely-kept secret. They are thought to number between 50,000 and 70,000 timepieces. About 75% of those feature mechanical movements, with 25% being quartz. A total of 246 different models are in production. This implies that no one model is probably produced in large quantities. There is a genuine sense of shortage as a result. especially for well-known designs like the Nautilus Ref 5711/1A. You won’t ever find one available for you to try on at your local AD in the current market. Of course, Patek Philippe has chosen to use this tactic on purpose. one that has aided in safeguarding the brand’s intrinsic value for more than a century. - Significance
The Patek Philippe Nautilus Ref 5711/1A is the brand’s second high-end sports timepiece. An athletic watch that gave birth to a whole collection. one that is currently the brand’s most well-liked (rivalled only by Calatrava.) This watch will always hold special significance for both the brand and watchmaking history. Its low annual production statistics indicate that its importance will keep growing. In other words, its worth will only increase.
These seven key factors help explain why is Patek Nautilus so expensive. One thing is for sure, the current demand for these watches is not showing any signs of abating.
How Long Is The Patek Philippe Nautilus Waitlist
The lengthy waitlist for the Patek Philippe Nautilus is a result of the small amount of watches that leave the manufacturing each year; Patek just cannot keep up with demand. Because so many of these watches are constructed by hand, it is challenging for this family-run business to expand. Simply because of that, it will never be easy to purchase this watch brand new. Additionally, buying a Nautilus at the official list price was very impossible. At Patek shops, waiting eight to ten years was typical.
Does The Nautilus Hold Its Value
The Nautilus collection has a very high rate of value retention. Due to the watch’s high demand compared to its limited supply at authorized retail stores, many watch collectors and aficionados started looking on the open market. Prices here have always been higher than the list price in accordance with supply and demand laws, although they often stay within a normal range.
In the used market, steel references can increase in value by a factor of four, whereas gold references always fetch a premium over MSRP. The 5711 stainless steel reference is an excellent illustration of how the Patek Philippe Nautilus is appreciating in value. Why is Patek Philippe’s Nautilus watch so pricey? August 2020, two years prior, had an average price of more than $60,000. The watch industry went into a frenzy when Patek President Thierry Stern announced at the end of 2020 that the 5711 will be discontinued. The frenetic atmosphere was further fueled by reports of record auction prices, and the rest was taken care of by speculators who recognized the Nautilus as a potential investment offering tremendous profits. Prices have been continuously rising.As a result, prices on the open market rose steadily, reaching new highs until the watch was eventually sold for more than $200,000. Since then, the market has started to stabilize once more. However, the 5711/1A-010 still costs roughly six times as much as its initial advertised price at a market price of almost $169,000 today.
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