What is the one true luxury brand today?
It’s not Hermès, Rolex or Chanel. The correct answer is Patek Philippe.
Here is why:
- Heritage: established in 1839
- Independent: still family-owned, allowing complete control of production, quality, tradition & secrecy
- Timeless: Every model is a classic (Nautilus, Aquanaut, Calatrava)
- Pioneers: renowned for innovating more advancements than any other brand e.g. perpetual calendars, chronographs, tourbillons, moon phases & minute repeaters (sorry Rolex fanboys, you don’t even come close!)
- Evolutionary: 1st Swiss wristwatch made. 1st to create a self-winding perpetual calendar in 1962 (Ref. 3448), unmatched for 16 years! In wartime 1941 when every luxury brand was dormant, Patek Philippe made 2 of the most iconic watches of all time (Ref. 1518 + 1526)
- Hand assembled perfection: There are no shortcuts. I can’t think of any other luxury brand where every single part is of the finest possible quality (including precious metals, diamonds, gemstones, hand-painted enamels)
- Quality: created its own stringent production standard, the Patek Philippe Seal, surpassing the industry’s Geneva Seal & COSC
- Patience: Some Patek Philippe watches take YEARS to assemble (Grandmaster Chime, Calibre 89) with 1,100 internal working parts. A Birkin/Kelly is easily replicated for $600 & <12 hours
- Genuine rarity: Patek Philippe produces 70,000 watches a year, and will not produce more than that in the future (vs. 100,000 Birkins/Kellys or 1.2m Rolex’s, both 20% of the average price of a Patek Philippe)
- Evolutionary: only Patek Philippe would discontinue its most wanted item, the SS Nautilus 5711 when it became too popular (30% of sales). Can you imagine Hermes ceasing the Birkin or Rolex its Daytona?). Nor are Patek Philippe a one trick pony e.g. AP + Royal Oak (granted a beautiful watch)
- Eternal: the watches are built to last forever, often becoming family heirlooms. Patek Philippe pledges that it will service & restore every watch it has ever made since its founding in 1839. Who else offers that?
- Competition: Patek Philippe face an enormous amount of competition from many other watch brands (VC, ALS, Breguet, JLC, AP, FPJ, JLC, RM) yet remain the clear #1
- Coveted: there are other wait lists (mostly fake), then there are the staggering Patek Philippe wait lists of up to 10 years
- Value retention: Patek Philippe watches appreciate in value over time, up to 15x retail
- Investment: 8 of the 10 highest priced watches ever sold are PP
- Expensive: don’t bother walking into a store if you don’t have CHF 50,000 to spend (men), with the average price of a Patek Philippe now over CHF 40,000.
- Discreet: no need for influencers, brand ambassadors & gaudy celebs
- Ethical: no moral concerns vs crocodile farms/exotic leathers
- Patek Philippe epitomises luxury with its dedication to creativity, quality, history, and timeless design.
- It is the king because it is a leader in every single characteristic that defines a luxury good & brand.
It is as simple as that.
About the Author
Danny Younis is a Sydney-based commentator and stock broker who has become a Top Voice on LinkedIn for his views on fine wine, luxury, film, watches and investing.