Aside from the Cubitus, which made loads of headlines within the watch business earlier this yr, Patek Philippe is a kind of manufacturers that silently marches on, creating extremely lovely and equally intricate watches yr after yr. Sitting close to the highest of this horology meals chain, the model is undoubtedly an vital participant inside the business.
What number of occasions have we seen Patek Philippe watches smash value information 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 recreation, untethered from tendencies and what everybody else appears to be doing.
I feel it may possibly proceed on this trajectory, unhindered and unfazed, as a result of it is without doubt one of the final firms of this measurement and magnitude inside the watchmaking business to be family-owned. The route is about firmly by the person on the helm, and that man, the present president of Patek Philippe, is Thierry Stern.
So, when supplied a uncommon probability to have a dialog with Stern, that’s not a possibility many would move up. There was so much to speak about with Stern, a person who reportedly has listened to each minute repeater to come back 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 at all times, there isn’t a selected emphasis on one assortment or one other. As an alternative, there are simply novelties from throughout all of the collections. Is that this the technique? To disregard the noise and simply concentrate on making higher watches yearly?
I don’t know if we’re making higher watches yearly…
So, for Patek Philippe, this is the reason we determined a few years in the past that no, now we have to boost up the Nautilus, however on the identical time, we even have to enhance the Ellipse, the Calatrava, the sophisticated watch, the grand complication, and that could be a large a part of our technique. And it is usually very enjoyable. I like it! You get to work on a easy Calatrava and on the identical time, an enormous minute repeater, and that’s the energy of Patek Philippe.
We is not going to change the technique. Generally now we have to launch a brand new household just like the Cubitus, however whilst we launched the Cubitus, we had been additionally engaged on many new fashions from different collections. And that’s what, I feel, folks count on from us. Everyone seems to be totally different, totally different tastes, totally different quantities of cash to spend on watches. And Patek Philippe has to have the ability to provide as a lot selection as doable when it comes to watches.
I might think about it offers you numerous inventive outputs by working this manner?
A number of prototypes
Patek Philippe watches are clearly very extremely fascinating within the public sale world. For instance, Ref. 1518 in metal is continually breaking value information at public sale each time it exhibits up. I’m wondering how you are feeling about all this, as you make new timepieces?
I can solely be proud about that as a result of it exhibits that the respect, information and attractiveness for Patek Philippe continues to be there! However I additionally take this as an enormous duty for me. When I’m designing these items at this time, I’ve to do not forget that. And this is the reason I’m a really cool individual typically, however with regards to the design, to the motion of the watches, I could be very robust. As a result of I must respect all these classic items from the previous, all of the DNA that was a part of it and at this time, I feel that is actually what folks count on not solely from me however from Patek.
The watches we’re making at this time, possibly in 20 to 50 years from now, might change 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 nicely. Patek Philippe has been round for a very long time. Are you continue to actively in search of items for the museum, or have you ever collected all of them?
Oh yeah, on a regular basis, however in fact now, now we have, I might say, 95 per cent of the items that we’re in search of. So, it’s a little lower than earlier than. And they aren’t straightforward to search out these days. A few of them are lengthy gone, as a result of possibly there was only one or possibly two items ever made. They’re, I don’t know, possibly within the sea someplace or destroyed in a hearth. And a few of them are in a protected, and folks have no idea it.
That is the wonder. You simply have to attend, and sooner or later, the brand new technology might discover them and say, I’m not enthusiastic about watches, I’m going to promote it and that’s once we will purchase it. So sure, we’re at all times in search of 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 imagine it; now we have one like this within the museum, but it surely was a bit of 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 individual in cost has the duty to warn me when one thing actually lovely is coming. He’ll say, Mr Stern, now we 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. Generally the proprietor will say: No, I want to hold it. However no less than I do know the place the piece is.
Wanting in direction of the long run, it’s reported that you have already got actions deliberate till 2039. From at this time till then, will there be something launched as contentious because the Cubitus?
You actually suppose I’ll reply this? Good attempt, however I can’t speak about it. What’s fascinating, and what I like about Patek, is that inside the firm, there are possibly 20 or 30 individuals who learn about all these plans. And nearer to launch, say, six months earlier than the Geneva present, possibly 1,000 folks already learn about it, however nobody is speaking about it. That additionally exhibits the respect for the model from our personal folks. The key is one thing vital for us. As a result of whenever you come again subsequent yr, or in 10 years, additionally, you will benefit from the shock whenever 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 feel this sort of respect can’t be purchased; it must be cultivated over time, and I feel numerous 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’ve got numerous guests on the manufacture; the retailer has the suitable to ask possibly 10 to 12 folks to go to the manufacturing facility. I can at all times see the spirit and the pleasure of every consumer. And once 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 had 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 centered on the brand new watches. There are literally numerous manufacturers doing it. However it’s not straightforward since you want numerous watchmakers, and for me, it’s simply inconceivable to do at this time. I’m a watchmaker who produces new watches, and naturally, I’ll service all these watches (that we’ll promote or have offered). An excellent after-sales service is without doubt 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 thing, so I have already got numerous work to do.
Usually it is extremely good as a result of any person will come and say “Hear, 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’ll say why can’t we repair it? After all we will. And they’re very happy with that. Actually, I feel we’re the one model to nonetheless do that. Many of the manufacturers is not going to repair the watch anymore whether it is older than 30 years.
They are going to 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 aren’t able to generate profits 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 if you find yourself spending this sum of money on a watch, you do count on that there might be somebody who can repair it.
That is the hazard I see concerning some watchmakers which are impartial. They’re making superb, sophisticated watches. And I say OK, high-quality, 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 contemplate.
Okay, only one final query earlier than we wrap up. I do know there have been numerous questions requested concerning the Cubitus already, however I simply have another. In the course of the improvement levels, was there ever a consideration to make a sq. motion to suit inside the cubitus?
Because the starting, I mentioned 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 inconceivable. 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 positive. And the reply is sure, it was my option to hold it as a spherical motion, and you must settle for that. That is additionally why, sooner or later, some folks at Patek additionally requested me if we must always have the sapphire caseback or not, as a result of the motion is spherical. And I say sure, now we 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 Problem
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