We all know that Patek Philipp is one of the most sought after watches today. They are rare and of high value. They are not known for hitting the pre-owned market often, but when they do, you can rest assured they get snagged up fast.
With a bit of planning and determination, you can own a Patek Philipp; however, you don’t have to put your house on the market to do so. If you know how to buy one, you can be the owner of one of these luxury watches that are a rarity to find. If you are searching for a Patek Philipp, here are a few things to keep in mind on your search.
Why Buy a Patek Philipp?
For those who are new to the luxury watch industry, Patek Philipp has been making watches for over 170 years. They are the pioneers of groundbreaking innovations such as the split-second chronograph and the perpetual time zone mechanism.
These beautiful timepieces are exquisite. Patek Philipp is known for top quality materials and a keen eye for detail. They continue to remain a family-owned business that is committed to providing customers with the best luxury watches today. It’s no wonder luxury collectors absolutely love this watch.
Patek Philipp has nothing to prove. They continue to make their watches in a classic style and it’s this that keeps people so interested and hot for them.
Vintage vs. Modern Watches
A vintage watch is made in the pre-1960s and tends to cost a lot more. If you love vintage watches but don’t want to break the bank buying one, take our advice into consideration.
A Patek Philipp will never go out of style. They continue to be very eye-catching after years of being made and are a truly timeless investment.
Buying a Patek Philipp
Whatever timepiece you choose to buy, you want to protect it. This is why insurance is very important. Either household insurance or something more detailed and specific. Places like Hiscox and TH March provides insurance services for high-end watches.
Another thing to keep in mind for your Patek Philipp is to service it according to the manufacturer’s instructions. Some say every three to four years, but it’s important to do it to keep your watch running strong and smooth. Plus, keeping records will help you retain the value of your very desirable and sought after watch.
Get to Know the Market
Just like vintage vehicles, prices can rise and dip depending on trends and seasons.
For example, the Patek Philipp’s Nautilus 5712 was made forty years ago but has become very popular in the last ten years. Because of that, there is a two-year waiting list for this watch.
Generally, though, Patek Philipps hold their value very well, which is one of the reasons collectors love these watches. Patek Philipp makes about 38,000 watches every year compared to Rolex that makes 1 million and sells them to 70 countries. If you look at those numbers and compare them, you’ll quickly realize that Patek Philipp is actually quite small, which makes them rare and harder to find. You just cannot go wrong with a Patek Philipp.
If you are searching for a Patek Philipp, check out our inventory of vintage watches here at Timepiece Perfection today.