Excluding the Cubitus, which made loads of headlines within the watch trade earlier this yr, Patek Philippe is a type of manufacturers that silently marches on, creating extremely stunning and equally intricate watches yr after yr. Sitting close to the highest of this horology meals chain, the model is undoubtedly an vital participant throughout the trade.
What number of occasions have we seen Patek Philippe watches smash value data at public sale? What number of complication firsts have we seen popping out of the model and its accompanying patents? And but, it does so with such nonchalance that it appears to suggest that the Geneva stalwart is taking part in its personal sport, untethered from developments and what everybody else appears to be doing.
I believe it will possibly proceed on this trajectory, unhindered and unfazed, as a result of it is likely one of the final corporations of this measurement and magnitude throughout the watchmaking trade to be family-owned. The course is about firmly by the person on the helm, and that man, the present president of Patek Philippe, is Thierry Stern.
So, when provided a uncommon likelihood to have a dialog with Stern, that isn’t a possibility many would go up. There was so much to speak about with Stern, a person who reportedly has listened to each minute repeater to return out of Patek Philippe underneath his stewardship. However with solely a 20-minute window to ask all burning questions, I made a decision to go together with a little bit of a extra unorthodox line of questioning. Don’t fear, I nonetheless managed to throw in a query concerning the Cubitus on the finish.
This yr, there are 15 references launched at Watches & Wonders Geneva. As all the time, there isn’t a specific emphasis on one assortment or one other. As a substitute, there are simply novelties from throughout all of the collections. Is that this the technique? To disregard the noise and simply give attention to making higher watches yearly?
I don’t know if we’re making higher watches yearly…
So, for Patek Philippe, because of this we determined a few years in the past that no, we now have to lift up the Nautilus, however on the similar time, we even have to enhance the Ellipse, the Calatrava, the difficult watch, the grand complication, and that could be a large a part of our technique. And additionally it is very enjoyable. I adore it! You get to work on a easy Calatrava and on the similar time, a giant minute repeater, and that’s the energy of Patek Philippe.
We won’t change the technique. Typically we now have to launch a brand new household just like the Cubitus, however at the same time as we launched the Cubitus, we have been additionally engaged on many new fashions from different collections. And that’s what, I believe, folks count on from us. Everyone seems to be completely different, completely different tastes, completely different quantities of cash to spend on watches. And Patek Philippe has to have the ability to provide as a lot selection as attainable when it comes to watches.
I’d think about it offers you a whole lot of artistic outputs by working this fashion?
Lots of prototypes
Patek Philippe watches are clearly very extremely fascinating within the public sale world. For instance, Ref. 1518 in metal is consistently breaking value data at public sale each time it reveals up. I’m wondering how you are feeling about all this, as you’re making new timepieces?
I can solely be proud about that as a result of it reveals that the respect, data and attractiveness for Patek Philippe remains to be there! However I additionally take this as an enormous duty for me. When I’m designing these items right this moment, I’ve to keep in mind that. And because of this I’m a really cool particular person usually, however in terms of the design, to the motion of the watches, I might be very robust. As a result of I have to respect all these classic items from the previous, all of the DNA that was a part of it and right this moment, I believe that is actually what folks count on not solely from me however from Patek.
The watches we’re making right this moment, perhaps in 20 to 50 years from now, might turn into the so-called sizzling cookies of tomorrow. And for me, that is actually nice, much more so when you’ve got a museum!
I used to be questioning about this as properly. Patek Philippe has been round for a very long time. Are you continue to actively on the lookout for items for the museum, or have you ever collected all of them?
Oh yeah, on a regular basis, however in fact now, we now have, I’d say, 95 per cent of the items that we’re on the lookout for. So, it’s a little lower than earlier than. And they aren’t simple to search out these days. A few of them are lengthy gone, as a result of perhaps there was only one or perhaps two items ever made. They’re, I don’t know, perhaps within the sea someplace or destroyed in a hearth. And a few of them are in a protected, and other people have no idea it.
That is the wonder. You simply have to attend, and someday, the brand new technology might discover them and say, I’m not enthusiastic about watches, I’m going to promote it and that’s after we will purchase it. So sure, we’re all the time on the lookout for these items. The final one which I purchased was not even a month in the past; it was a stunning little minute repeater pocket watch. A tiny one. I actually couldn’t consider it; we now have one like this within the museum, however it was just a little greater. And this one got here, apparently, from the after-sales service, which is usually the place we discover the items we’d like for the museum.
The particular person in cost has the duty to warn me when one thing actually stunning is coming. He’ll say, Mr Stern, we now have a tremendous piece coming for after-sales service, would you prefer to see it, and I say sure. So, I have a look at the piece and I contact the proprietor. I say: Are you prepared to promote it? As a result of we don’t have it, and we’d be happy to have it within the museum. Typically the proprietor will say: No, I wish to preserve it. However at the least I do know the place the piece is.
Wanting in the direction of the longer term, it’s reported that you have already got actions deliberate till 2039. From right this moment till then, will there be something launched as contentious because the Cubitus?
You actually assume I’ll reply this? Good strive, however I can’t discuss it. What’s attention-grabbing, and what I like about Patek, is that throughout the firm, there are perhaps 20 or 30 individuals who learn about all these plans. And nearer to launch, say, six months earlier than the Geneva present, perhaps 1,000 folks already learn about it, however nobody is speaking about it. That additionally reveals the respect for the model from our personal folks. The key is one thing vital for us. As a result of if you come again subsequent yr, or in 10 years, additionally, you will benefit from the shock if you see the most recent watches. It is rather like Christmas, you don’t wish to know what your current is earlier than you open it.
I believe this type of respect can’t be purchased; it needs to be cultivated over time, and I believe a whole lot of Patek Philippe collectors and lovers perceive that.
Sure, they perceive that, and it’s much more apparent when clients come for a go to. We now have a whole lot of guests on the manufacture; the retailer has the appropriate to ask perhaps 10 to 12 folks to go to the manufacturing facility. I can all the time see the spirit and the pleasure of every shopper. And after we discuss with them, more often than not I attempt to have lunch with them, that’s precisely what they are saying. They are saying I can see the respect and pleasure of the workforce; it’s one thing that’s apparent, and that’s very nice.
You have been talking earlier concerning the after-sales service. I used to be simply questioning when you’ve got any ideas on the pre-owned market?
No, as a result of I don’t have time and I’m very targeted on the brand new watches. There are literally a whole lot of manufacturers doing it. However it’s not simple since you want a whole lot of watchmakers, and for me, it’s simply not possible to do right this moment. I’m a watchmaker who produces new watches, and naturally, I’ll service all these watches (that we are going to promote or have bought). An excellent after-sales service is likely one of the keys to success. That is very true for Patek Philippe as a result of we repair all watches made, even from when the model was established. We are going to repair every little thing, so I have already got a whole lot of work to do.
Usually it is rather good as a result of any individual will come and say “Pay attention, I’ve a watch, she is 100 years outdated, and I do know you can’t repair it, however are you able to simply polish it?” And we are going to say why can’t we repair it? After all we are able to. And they’re very happy with that. Actually, I believe we’re the one model to nonetheless do that. Many of the manufacturers won’t repair the watch anymore whether it is older than 30 years.
They’ll say, “Sorry, you must purchase a brand new one.” I perceive this as a result of fixing outdated watches is troublesome, and it takes time. And it’s a non-profitable enterprise. That is additionally the selection that we made. We’re not able to become profitable out of the after-sales service. It’s a part of our DNA, our price.
That’s why I put in the Patek Philippe seal. With this Patek Philippe seal, we’re speaking not solely about the entire watch, but additionally the after-sales service, as a result of when you find yourself spending this sum of money on a watch, you do count on that there can be somebody who can repair it.
That is the hazard I see relating to some watchmakers which can be unbiased. They’re making superb, difficult watches. And I say OK, superb, however the man is alone, and when this man is gone, who’s going to have the ability to restore your watch? Good luck. And these are costly watches. It’s one thing that the consumers want to noticeably take into account.
Okay, only one final query earlier than we wrap up. I do know there have been a whole lot of questions requested concerning the Cubitus already, however I simply have yet one more. Through the improvement phases, was there ever a consideration to make a sq. motion to suit throughout the cubitus?
For the reason that starting, I stated no. As a result of I didn’t wish to be trapped with just one motion for the Cubitus. I want for this line to have the ability to have a easy computerized motion, but additionally a chronograph, or a perpetual calendar sooner or later.
So, it’s about longevity for the gathering?
Sure, in order that’s why I made a decision to not do a sq. motion, as a result of to redevelop the sq. motion each time I desire a new complication, financially, overlook it! It’s not possible. In order that’s why I selected to maintain it spherical. It permits me to do no matter I like, with all of the actions I’ve within the assortment. The query is an effective query, for certain. And the reply is sure, it was my option to preserve it as a spherical motion, and you must settle for that. That is additionally why, in some unspecified time in the future, some folks at Patek additionally requested me if we should always have the sapphire caseback or not, as a result of the motion is spherical. And I say sure, we now have to simply accept that, and we made a sapphire caseback. I’m not going to cover the truth that the motion is spherical.
This story was first seen as a part of the WOW #81 Autumn 2025 Situation
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