Excluding the Cubitus, which made loads of headlines within the watch trade earlier this yr, Patek Philippe is a kind 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 essential participant inside the trade.
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 enjoying its personal sport, untethered from traits and what everybody else appears to be doing.
I feel it might probably proceed on this trajectory, unhindered and unfazed, as a result of it is among the final firms of this measurement and magnitude inside the watchmaking trade to be family-owned. The course is ready 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’s not a chance many would cross up. There was lots to speak about with Stern, a person who reportedly has listened to each minute repeater to return out of Patek Philippe beneath 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 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, for this reason we determined a few years in the past that no, now we have to lift 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 huge a part of our technique. And it’s also 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 power 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 anticipate 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 variety 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 information at public sale each time it exhibits up. I ponder how you’re feeling about all this, as you’re making new timepieces?
I can solely be proud about that as a result of it exhibits 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 at present, I’ve to keep in mind that. And for this reason I’m a really cool individual usually, however with regards to the design, to the motion of the watches, I could 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 at present, I feel that is actually what folks anticipate not solely from me however from Patek.
The watches we’re making at present, perhaps in 20 to 50 years from now, could turn into the so-called scorching cookies of tomorrow. And for me, that is actually nice, much more so you probably have 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 searching for 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’d say, 95 per cent of the items that we’re searching for. So, it’s a little lower than earlier than. And they don’t seem to be straightforward 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 secure, and other people have no idea it.
That is the wonder. You simply have to attend, and someday, the brand new technology could 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 at all times searching for these items. The final one which I purchased was not even a month in the past; it was a beautiful little minute repeater pocket watch. A tiny one. I actually couldn’t consider it; now we have one like this within the museum, however it was just a little larger. And this one got here, apparently, from the after-sales service, which is typically 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 stunning is coming. He’ll say, Mr Stern, now we have an incredible piece coming for after-sales service, would you wish to see it, and I say sure. So, I have a look at the piece and I contact the proprietor. I say: Are you keen to promote it? As a result of we don’t have it, and we might be happy to have it within the museum. Generally the proprietor will say: No, I wish to preserve it. However at the very least I do know the place the piece is.
Trying in direction of the longer term, it’s reported that you have already got actions deliberate till 2039. From at present till then, will there be something launched as contentious because the Cubitus?
You actually assume I’ll reply this? Good strive, however I cannot discuss it. What’s fascinating, and what I like about Patek, is that inside 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 exhibits the respect for the model from our personal folks. The key is one thing essential for us. As a result of once you come again subsequent yr, or in 10 years, additionally, you will benefit from the shock once you see the newest watches. It is rather like Christmas, you don’t need 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 a variety of Patek Philippe collectors and fanatics perceive that.
Sure, they perceive that, and it’s much more apparent when clients come for a go to. We’ve got a variety of guests on the manufacture; the retailer has the fitting to ask perhaps 10 to 12 folks to go to the manufacturing unit. I can at all times see the spirit and the pleasure of every consumer. 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 crew; 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 you probably have 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 variety of manufacturers doing it. Nevertheless it’s not straightforward since you want a variety of watchmakers, and for me, it’s simply not possible to do at present. I’m a watchmaker who produces new watches, and naturally, I’ll service all these watches (that we are going to promote or have offered). An excellent after-sales service is among 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’ll repair every thing, so I have already got a variety of work to do.
Usually it is rather good as a result of any individual will come and say “Hear, I’ve a watch, she is 100 years outdated, and I do know you can not repair it, however are you able to simply polish it?” And we are going to say why can’t we repair it? In fact 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, it’s a must to 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 earn cash out of the after-sales service. It’s a part of our DNA, our worth.
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 in addition the after-sales service, as a result of when you find yourself spending this amount of cash on a watch, you do anticipate that there shall be somebody who can repair it.
That is the hazard I see relating to some watchmakers which are unbiased. They’re making wonderful, 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 patrons want to significantly think about.
Okay, only one final query earlier than we wrap up. I do know there have been a variety of 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?
For the reason that starting, I mentioned no. As a result of I didn’t need to be trapped with just one motion for the Cubitus. I would like for this line to have the ability to have a easy automated motion, but in addition 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 efficient query, for positive. And the reply is sure, it was my option to preserve it as a spherical motion, and it’s a must to 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 Subject
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