GLau initiates a discussion on Patek Philippe's brand trajectory under Thierry Stern's presidency, using Only Watch auction results as a primary indicator. This analysis prompts a broader conversation about how to accurately measure a luxury watch brand's success and perceived value in the market.
I read and interpreted Patek as a brand has been doing better since T Stern took over as Patek has further solidified itself as THE KING because the trend has been very telling since 2009. Am I right to use this analysis to answer the above question ? What do you think ?
Cheers,
Gordon
In 2005, in the first Only Watch, 5099RG sold for 1.9mn Euro, being 6.3% of the total proceeds.

In 2007, 5712T sold for 2.75mn Euro, representing 19% of the total proceeds.

In 2009, 5106R sold for 2.3mn Euro, representing 23.3% of the total proceeds.

In 2011, 3939HA sold for 4.56mn Euro, representing 30.7% of the total proceeds.

In 2013, 5004T sold for 5.06mn Euro, representing 58.2% of the total proceeds.

In 2015, 5016A sold for 11.258mn Swiss Franc, representing 64.8% of the total proceeds.

In 2017, 5208T sold for 6.2mn Swiss Franc, representing 57% of the total proceeds.

About the Patek Philippe Calatrava Ref. 3939
The Patek Philippe Calatrava reference 3939 is a highly complex and significant offering within the Calatrava line, known for its combination of a minute repeater and a tourbillon. This reference represents a pinnacle of traditional horological craftsmanship, showcasing Patek Philippe's capabilities in grand complications within a classically styled case. It was produced in very limited numbers, making it a notable piece for collectors of high-complication watches.
Crafted in precious metals, the reference 3939 typically features a case diameter of 33.3mm, a size that allows for a refined presence on the wrist while housing its intricate movement. The watch is powered by a manual-wind caliber R TO 27 PS, which integrates both the minute repeater and the tourbillon mechanisms. The movement is visible through a sapphire crystal case back, allowing appreciation of its finishing and the tourbillon cage. The dial is often enamel, contributing to its refined aesthetic.
This reference appeals to collectors who prioritize technical sophistication and traditional finishing. Its dual grand complications, combined with the understated elegance of the Calatrava design, position it as a significant achievement in watchmaking. The limited production and the complexity of its movement contribute to its desirability and its place as a distinguished example of Patek Philippe's haute horlogerie.
Specifications
- Caliber
- R TO 27 PS
- Case
- Platinum
- Diameter
- 33.3mm
- Dial
- White enamel
- Water Resist.
- 25m
- Crystal
- Sapphire
About the IWC Ref. 5004
The Patek Philippe reference 5004 is a highly regarded grand complication, combining a split-seconds chronograph with a perpetual calendar. This reference was a significant offering in Patek Philippe's catalog, representing a sophisticated blend of technical mastery and traditional watchmaking. It was produced in limited numbers, making it a sought-after piece among collectors of complex horology.
The watch features a 36mm platinum case with a thickness of 15mm, housing the manual-winding caliber CHR 27-70 Q. This movement provides a power reserve of 60 hours and is protected by a sapphire crystal. The dial is presented in silver opaline, offering clear legibility for its numerous indications. The case is water-resistant to 30 meters.
As a split-seconds perpetual calendar, the reference 5004 appeals to collectors who value both intricate mechanical solutions and classical design. Its production run from 1996 to 2012 saw various dial and case material iterations, though platinum was a prominent offering. The integration of two major complications in a relatively compact case underscores its appeal within the realm of high-end watch collecting.
Specifications
- Caliber
- CHR 27-70 Q
- Case
- platinum
- Diameter
- 36mm
- Dial
- silver opaline
- Water Resist.
- 30m
- Crystal
- Sapphire crystal
About the Patek Philippe Ref. 5016
The Patek Philippe Reference 5016 stands as a highly complex grand complication within the brand's offerings, distinguished by its combination of a minute repeater, tourbillon, and retrograde perpetual calendar. This reference is a testament to Patek Philippe's mastery of horological complications, integrating three significant functions into a single timepiece. It represents a pinnacle of traditional watchmaking, appealing to collectors seeking a comprehensive display of mechanical artistry beyond simpler perpetual calendar models. Its inclusion of a minute repeater and tourbillon elevates it significantly within the grand complication category.
Crafted with meticulous attention to detail, the Reference 5016 typically features a case made from precious metals, housing a sophisticated manual-winding movement. The intricate caliber is visible through a sapphire crystal case back, allowing appreciation of the tourbillon and the finely finished components. The watch's dimensions are carefully considered to accommodate its complex mechanism while maintaining a wearable profile. The power reserve is substantial, reflecting the efficiency of its movement design, and the crystal is consistently sapphire for durability and clarity.
This reference appeals to serious collectors who value the integration of multiple high complications. Its rarity and the complexity of its construction make it a significant piece in any collection of grand complications. The 5016 is recognized for its technical achievement and its position as a flagship model demonstrating Patek Philippe's capabilities in creating watches that combine both acoustic and visual horological marvels. It occupies a distinct place among the brand's most elaborate timepieces.
Specifications
- Caliber
- R TO 27 PS QR
- Case
- Platinum, Rose Gold, White Gold, Yellow Gold
- Diameter
- 36.8 mm
- Dial
- Silver, Black, Blue, Salmon
- Water Resist.
- 25 m
- Crystal
- Sapphire
About the Patek Philippe Gondolo Ref. 5099
The Patek Philippe Reference 5099 is a limited-edition cabriolet-style wristwatch, drawing inspiration from a historical Patek Philippe timepiece from the late 1920s. This reference is notable for its unique reversible case design, allowing the watch to be worn with either the dial facing outwards or the solid case back presented, protecting the crystal. It represents a modern interpretation of a classic Patek Philippe design, appealing to collectors interested in historically inspired pieces with a distinctive mechanical feature.
The case of the 5099RG is crafted from 18k rose gold, featuring a rectangular shape that articulates the cabriolet mechanism. The watch is powered by a manual-winding mechanical movement, consistent with the traditional watchmaking ethos often found in Patek Philippe's more specialized or limited productions. The crystal protecting the dial is sapphire, ensuring durability and clarity.
This reference appeals to collectors who appreciate Patek Philippe's heritage and its ability to reinterpret historical designs with contemporary craftsmanship. The cabriolet function offers a unique wearing experience and a conversation piece, distinguishing it from more conventional timepieces in the brand's catalog. Its limited production further enhances its desirability among discerning collectors.
Specifications
- Caliber
- Cal. 215
- Case
- 18k rose gold
- Diameter
- 29 x 41 mm
- Dial
- Silver
- Water Resist.
- 25 m
- Crystal
- Sapphire
About the Patek Philippe Ref. 5208
The Patek Philippe reference 5208 is a grand complication that combines a minute repeater, an instantaneous perpetual calendar, and a monopusher chronograph. Introduced at BaselWorld in 2010, this reference showcases Patek Philippe's mastery in integrating multiple complex mechanisms into a single timepiece, distinguishing it as a significant offering within their high-complication portfolio. Its design emphasizes technical sophistication and horological innovation, particularly with the instantaneous jumping perpetual calendar function.
The watch typically features a platinum case, measuring 42mm in diameter, housing the self-winding Caliber R CH 27 PS QI movement. This intricate movement provides a power reserve of approximately 48 hours. The crystal is sapphire, offering clear visibility of the dial and, often, the finely finished movement through a sapphire case back. The construction reflects a commitment to traditional haute horlogerie standards in both materials and finishing.
For collectors, the 5208 represents a pinnacle of Patek Philippe's technical prowess, appealing to those who seek a watch with multiple grand complications. Its combination of a minute repeater, perpetual calendar, and monopusher chronograph places it in an exclusive category. The reference is notable for its technical complexity and the precision required for its instantaneous calendar function, making it a highly regarded piece among connoisseurs of complicated watchmaking.
Specifications
- Caliber
- R CH 27 PS QI
- Case
- Platinum
- Diameter
- 42mm
- Dial
- Black
- Water Resist.
- 30m
- Crystal
- Sapphire