Patek Philippe Nautilus Scarcity & Market Demand

ImranLondon · 2019-08-09T08:27:28Z

Miranda debunks Patek Philippe Nautilus scarcity myths, exploring manufacturing complexity and new demand for references like 5711, 5712, and 5980.

ImranLondon

WPS member · Patek Philippe forum

31 replies10490 views21 photos

Miranda tackles common 'conspiracy theories' surrounding the scarcity of Patek Philippe Nautilus and Aquanaut models. The author challenges the notion that Patek deliberately restricts steel sports watch production, instead arguing that the issue stems from complex manufacturing processes and unprecedented demand from a new demographic of buyers.

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Myth busting, the pretext is that Patek are deliberately withholding production of the stainless steel sports watches, both Nautilus and now Aquanaut.

A recent article on Hoodinkee highlighted that Thierry Stern will not increase his production of steel watches. But actually they missed the target completely. It’s not a restriction on steel sports Nautilus, it’s a planned production of all Nautilus and Aquanaut. Stern is not going to let Patek go the way of Audemars Piguet and in effect become the Royal Oak Company.

The reality is, that as hard as it is to get the 5711 1/A, the rose gold 5711 1/R is even harder. In fact Patek tell me the hardest piece to get is actually the 5980 1/R.

With the Nautilus in particular there are several reasons for the current dilemma. First one is actually the time it takes to produce these models. It’s not the movements that’s the issue. The case and bracelet is very labour intensive, requiring a tremendous amount of hand finishing. The time it takes to make one Nautilus case and bracelet you can produce probably two or three Calatrava cases. To increase production would necessitate a reduction in the production of other references, then your production ratio’s change and you are in danger of following the Royal Oak path.

Secondly, the demand has increased beyond imagination. But not from necessarily collectors. The Nautilus and Aquanaut are the new darlings of the sports personality, Hollywood and Bollywood celebs, musicians and powerful CEO’s and business Moghuls. Along with Richard Mille, unfortunately the Patek sports watches have become in part trophy watches.

Now you can’t blame them, the heritage and quality of the brand and its prestige at the high end of horology make them desirable. And Patek’s marketing and advertising has no doubt played a major role in increasing brand awareness. We should not of course forget us- the watch nerds, we want them too. Just look at all the owners of both the steel and the precious metal Nautilus.

Add it all up with fixed production numbers and you can see why demand outstrips supply.

Finally, for owners it’s a good thing that the production is not artificially ramped up. Whilst it’s totally frustrating for a potential owner, not succumbing to the lure of extra profit helps to maintain the brand values. One day the trophy hunters will offload their trophies. If there suddenly 100’s if not 1000’s of them on the market place, collectors, won’t be too happy.

Will this phenomenal demand last? I see it lasting a long while yet. Every premiership footballer wants one, or two or three. Then there’s La Liga, Seria A, Bundesliga, the NBA, NFL, boxers, actors and Ed Sheeran&Co. I don’t see a crash though, if demand wanes I see Patek discontinuing them. And we know what happens then- just look at the steel 5980 as an example. After the initial hype waned, you could buy them at list in from AD’s windows. Did Patek let the situation wallow- no, they got the chop. Same with the mid-size ref 5800, and the precious metals 5711 on leather straps.

About the Patek Philippe Complications Ref. 5711

The Patek Philippe Complications reference 5711/1A is a specific configuration within the Complications model line. This particular reference is identified by its serial number 5914840, with a movement number 6084863.

The watch is presented in a stainless steel case, indicated by the "/1A" suffix. No specific details regarding the crystal material or movement architecture are provided.

This reference appeals to collectors seeking a Patek Philippe Complications model in stainless steel. Its specific serial and movement numbers are documented for identification purposes.

Specifications

Caliber: 26-330 S C

Case: Stainless steel

Diameter: 40mm

Dial: Blue, White

Water Resist.: 120m

Crystal: Sapphire

Key Points from the Discussion

Thierry Stern's stance on not increasing steel watch production is not new, and the availability of Nautilus 5711 or 5712 on the secondary market at inflated prices suggests a failure in managing distribution to collectors.
While acknowledging the Nautilus's quality, some argue that other brands like Vacheron Constantin Overseas offer comparable quality and features, questioning if celebrity endorsement is the sole reason for its demand.
The Nautilus and Aquanaut have become 'trophy watches' for a new demographic, including celebrities and CEOs, driven by easy money and social media, contrasting with traditional collectors.
The Nautilus has acquired a negative perception for some due to its association with 'new customers' who may not appreciate traditional Patek qualities, leading to a preference for vintage Rolex sports watches.
Some collectors, like Ellen DeGeneres, are genuine enthusiasts, suggesting that not all celebrity owners are merely status seekers. A similar analysis for Rolex's production strategy would be valuable.
The long-term strategy of Thierry Stern regarding Nautilus and Aquanaut production is seen as the correct approach, especially in preserving Patek Philippe's independence.
Despite Patek's stated desire not to become 'the second Audemars Piguet,' the brand is largely known for the Nautilus by the general public, and claims of extensive hand finishing for mass-produced models are questioned.
There is interest in production/sales data for steel versus precious metal Nautilus references, with a belief that the Nautilus was originally conceived as a steel sports watch.

The Discussion

amanico

Aug 9, 2019

Superb article, Imran. A pleasure to read. [nt]

redcorals

Aug 9, 2019

So whats new here? Same old same old!! [nt]

dedestexhes

Aug 9, 2019

Thx for the article, happy to say I almost don’t know any of the celebrities 😀 [nt]

Rapwatch

Aug 9, 2019

Apart from Iron Man, Tyler D and Transporter me neither and I couldn't give a pip about them either. [nt]

Bounce781

Aug 9, 2019

+1 lol

I thought the same

lascases

Aug 9, 2019

Time to move on

The Nautilus (to me) has acquired a negative touch, given all these "new customers". They have not much in common with traditional qualities of Patek. To me vintage Rolex is much more interesting, if you are looking for sports watches. A high-quality Rolex from the past requires connoisseurship. Not every idiot can buy one... Very nice compared to this mass production Patek Nautilus. P.S.: I still love the rest of Patek