Why Is Patek Philippe So Expensive? | 7 Reasons | So Expensive.
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- čas přidán 13. 06. 2024
- Why Is Patek Philippe So Expensive?
There are watches and then there are Patek Philippe watches. The latter are very fine timepieces that are mostly distinguished by the fact of their being unaffordable to the majority of the global populace. So why is Patek Philippe so expensive? This video will take an in-depth look at why Patek Philippe is so expensive and list all possible reasons that explain why Patek Philippe timepieces cost so much. Tune in and learn some gripping facts about Patek Philippe watches that you never knew and can put to use!
Timestamps:
0:00 Introduction
0:27 Peerless Exclusivity
1:49 Amazing Quality
2:23 Consistent Innovation
3:04 Precise Hand-Finishing
3:56 Excellent Resale Value
4:46 Longstanding Heritage
5:14 A-Class Craftmanship
5:49 They Are Status Symbols
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It's not ignorance but due to some unprofessional broker in the market
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I would say dollar for dollar Lange can give them a run for their money... or your money. I have held both in my hands and if I had the cash it would be a tough choice. Still, I'm perfectly happy with my Omega watches. Plus I still have my car, my house, and all my internal organs.
I would personally choose Patek over A Lange & sohne. While I like the movement and the movement finishings of A Lange is better crafted, I'm not a big fan of how the dial looks. For me, the dial takes precedence since it is the thing you will look at 99% of the time
Lange is a grade better than Patek and now the Grand Seiko also right there with both!
I honestly think I’ve hit my comfort zone with Tudor. I love watches, and I could save longer and get something more expensive. But I think the $5,000 and under price point is where I draw the line. I love the quality and aesthetic of Tudor and they now have in house chronometer.
Agreed. I would rather own a Lange for the beauty and craftsmanship. Though Patek would be more valuble..
Amazing 😍
Quality and great history. Guy from Poland (Patek) always looked at quality.
_Thanks!_
_Very interesting and informative!_
It’s expensive Bc someone figured out that Rich people will spend stupid amount of money as long as it is “expensive “
same thing as Rolls Royce, overpriced shit. Better to get Maybach
it's not just the people who made them.. the poor also help to make it mainstream.. imagine if seico or casio was made by the same France people in 18 centuries.. I doubt that patek would cost more than 100dollars these days..
@@lianking5665 Patek hand finishes there watches even the parts you can not see it keeps real watchmaking alive
Atleast rich people are smartest they buy stuff that appreciate in value it's like an investment as well as they enjoy the product also on the other hand non-rich will just go for inexpensive stuff which will certainly depriciate in value the moment they take it out of store.
Overrated Brand for the Dumb Class of the Elites$$$
In general, I am a big supporter of the Rolex brand, but Patek / PP / - this is a higher chorology. Honestly, probably the most prestigious watch brand or the so-called royal brand.
At least according to most world rankings, Patek is the ABSOLUTE TOP OF THE SO-CALLED GREAT TRINITY OF SWISS MANUFACTURERS.
Holy Trinity bro, it includes Patek, Audemar and Vacheron
Pateks are so expensive because high demand and low supply drives up the price. Business 101. They don't mass produce these watches and they certainly don't mass produce the different styles they create.
The demand for the watch, materials used, combined with the fact that its made by hand is the trifecta justification for the brand to tag these watches at the prices they go for.
Ultimately these watches do one thing. Tell the time, but they do it with precision. Some of these watches will give you lunar cycles, tides, tell you when Venus is in retrograde (just kidding with that one) But you guys get the idea.
It's the consumer that ultimately determines the price of something. If no one was willing to pay for Patek's at those prices, they wouldn't be at the prices they are at. But when people are willing to shell out more money than some people make in a year for one or more, than the maker KNOWS what they have is special.
they look dope wouldn't mind get one for my self
I would love the very simple model Albert Einstein had...that’s a classic
These watches are excellent , you pay for craftsmanship,
Marketing. Excellent marketing is the answer.
Spot on! Patek nearly went broke decades ago. Like Rolex, their marketing plan is superb! The owners of Patek, the Stern family, are not by themselves watchmakers. They are excellent businessmen and merchants who know how to market their creations. They create demand from a legacy, and communication of tradition and overall quality. In my view, their quality is no better than a handful of other firms within the top tier of exclusive hand made watches. Personally, I do not want "complications" for myself. As an engineer and a person who enjoys working with their hands, I prefer simplicity and basics. Once complications are added, the reliability of any mechanical device is more prone to failure and requires additional service.
The best and beautiful watch in the world is patek philippe But it is a pity that I can not buy in Iran because I do not have the budget😔
Ask your Ayatollah then.....😎😎
something out of my budget but it is very cute
Please show me where I can get a patek for 12.5k please
The photo of prince William is his Omega Seamaster isn’t it?
I am used to see rich people stuff and think it looks hideous (pe, Bentley cars). But those watches are actually really beautiful.
Successful people have one .
50 year watch enthusiast... Hand finishing is the hallmark of fine watchmaking, and Patek has plenty of competition that produces far more realistic timepieces without all the complications.
For me, the only Patek watch I would ever consider is the 3919 Calatrava, Jack Welch watch. Simple, plain, gold and elegant, with white face and black Romans, ideal. The rest of the line, no thank you! Simplicity, hand finishing ultra thin are my hallmarks.
6:08 I am pretty sure that's a seamaster.....correct me if I am wrong
M A R K E T I N G
Quality
This is the watch our President BBM used to wear it during his inauguration day.
6:07 “most of them use one” shows prince william wearing an omega…
British Royal family: buys Patek Philippe watches
People in UK 🇬🇧 : Soooo this is what are tax dollars are spent on !?!?
LOL ikr
Not really. Prince William wears an Omega when he is out in public. At least that’s what they want the public to see and believe.
Less than £1/ household goes towards the upkeep of the royal family. They generate roughly £109/ household through tourism. They mainly pay for their assets through various businesses such as Duchy.
@@adam_p99 where can i claim my £109 from?
Well be reminded that the royal family technically owns all of the UK so...
The perpetual calendar was made with omega so they can’t take all the credit, omega is better
I'd say they're so expensive because they can somehow get people to pay that much. But, to me, the current watches they're putting out have faces that look like a waffle iron. I don't understand why anyone would want one.
Question: Is the narrator here Penn Gillette? Sounds just like him!
The 5711 is the most overprice piece of metal I’ve ever seen. It’s not even hand engraved. People who bought these nautilus have been ripped off beyond believe. They will realise it when they come to sell it.
bla bla bla haha dude wtf? Nautilius is one of the best watches, together with AP Royal Oak and VC Overseas
I completely disagree. the quality of that watch is the exact same as any other watch produced by them, the only difference being complications. Besides, if you want to talk about a waste of money, you don't need to look any further than a Richard Mille 😆
@@javokhirbekerkinov3239 The PP Nautilius could be made by a junior apprentice. The hand finish leaves a lot to be desired. The movement is total trash compared to a lot of Independents .
@@javokhirbekerkinov3239 "One of the best watches" in what sense? Objectively? People still complain about quality issues after paying $30,000 in retail.
It's also extremely easy to fake, and you can get a counterfeit one for a fraction of the price and virtually no difference functionally and aesthetically - czcams.com/video/faTFFSsOJ7o/video.html
Bro I agree, people just jump on the bandwagon about them being the best. In reality their movements are well finished but not the best, bad power reserves, great accuracy but still not the best, boring designs, not innovative at all, cool boxes you’ve got to give them that, and awful water resistance.
Good information 😊 How much is there stocks ☝️💫✅🔗💎💸$
Patek Philippe is a privately owned family business and their stocks are not being traded to the general public. In other words, their stock price is priceless. Anyone who wants to own shares of the company will have to either inherit them by blood or married into the Stern Family. But there’s no guarantee that anyone who is married into the Stern Family will be able to own shares of the company as I’m sure they will require any future spouses to sign prenuptial agreements prior to the weddings.
if i get a patek watch i will keep it for lifetime
Bruh that is watchfinder officials thumbnail you got here
In term of value and heritage, I think patek and rolex are king and queen
Grand seiko
@@amritsarieltspte2802 isnt it seiko not grand seiko?
Grand seiko is always the queen.its spring drive shake the world. Rolex just high on promotion & design
@Apik_Apek rolex is still the superior brand. I view it like McDonald's is to shake shack. Shake shack has way better quality, and all but the sales, marketing, and brand value is miles away from McDonald's. A queen has to dominate the market
@@mrparkx2 ok maybe Im agreed with this
D.
I love rolex because it is made up of gold and brilliant.
Ahh yes. A most fine watch ⌚ I can wear for a couple of weeks before getting my wrist chopped off
Who are here after hardik pandya watch incident
Peso Pluma brought me here lol...
The Grandmaster Chime sold again for 75 Million USD. So you're wrong lol
31.19 mill
which patek costs 12.5k?
Ladies quartz
Uh yeah still waiting to hear why people pay millions for these things. I’m also a guy who doesn’t wear watches because my phone tells the time digitally.
Nobody really knows.
5 million
31milliom
what is a "lifetime service privilege"? Lol. Yeah, they offer you the ability to pay them lots of money to repair it in the future. People should realize the Patek service warranty is two years, after that, expect a massive bill for any repairs required.
True question, due you own one
It means that they will service and if need be create parts for any watch going back to 1839. Try going to Ford for parts or service for a Model T.
My Rolex Submariner is 45yo. The last time I had it serviced a couple years ago the bill was $1500. It is only going up in value, but I love my watch and wear it nearly every day. It gets beat up, but it’s something I love as it was a gift from my late father.
Then hit up a local watchmaker, a standard service is more than easy enough for a certified watchmaker
31 m
Non of these reason make sense to me, and those 7 reason can not make me pay 50k tor a fvcking watch, not even gold ? Wtf.
Someone paid $16.2 million for a Rolex Daytona once owned by Paul Newman. It was all stainless steel. If you can find one, they are going for upwards of $35,000 on the resale market and there's a 3 to 5 year wait list to get one. It's a world gone mad.
bro in my country used patek price on the market are 100k average, crazy.
Makes as much sense as selling blank canvases for 20 million dollars. "It's art!"
Get a seiko no need to spend lots of money for a watch .
No CEO, successful entrepreneur or president of a country would be caught dead wearing a mass-produced Walmart bought wristwatch, that is unless you happen to be a liberal who can't understand that quality does in fact cost money.
Better yet get a casio.
D
Rolex is good enough for me.
King Charles owns at least 6 and all were gifted to him by others with more money than they can spend, this means wealthy people want a watch like king Charles so buy it.
It's great advertising for the company and a man whose never worked a day in his life gets 1m gifts
Meanwhile zenith makes 20k watches a year. Why isnt it more popular? Rare is good right
I bought a Zenit jears ago .... I had to sent it 2 the manufacture 4 cleaning test it and soon....I got it back on the worster condition than before....newer Zenit again.....😣😣😣😣
with the government printing money like no tomorrow, no wonder these things are so overpriced
d
TIMEX : HOLD MY BEER.
Since when has $12,000 been a reasonable price to pay for a watch?
Sarcasm.
The thing that bothers me about their watches is the design. It’s too conservative. They look boring. For the most part. I know they are well made. But their design is too plain. Too safe. Why I haven’t bought one. Yet.
there are three most valuable things in the world
no3. gold
no2. Diamond
no1. patek Philippe
who shall ever not give likes for my masterpiece, will not live in peace..😈
same materials, same makers, same quality without the brand name, these watches would be 20k max.
Not my style. Not a fan of leather straps. Dial too busy. Looks too classic for my taste.
Didn't one sell recently for about $121 million?
Here's 50 dollars for the watch take it or leave it.
In fact watches start with "P" like patek, panerai and ap are high end
"From a reasonable $12,500" 😂😂😂
The watches are pretty, I'll give them that. But that's insanely high for a watch. I don't care how pretty or well-crafted they are.
Nice but they are just watches , it’s only worth what you want to pay and I’d only pay 5k for any watch, if some rich mug wants to pay 100k that’s their business if they think they got value for money then all’s good , but we all now they didn’t as it’s just a watch
Cap.. I just saw a patek for 9 milly
There is a fool born every day of the week
Because there’s someone willing to overpay for it!!!
5:48 It’s expensive because it’s a status symbol? No. It’s a status symbol because it’s expensive.
I would still prefer Gshock watch, I would go for function vs price, whatever material it uses it would still eventually breakdown at some point, I would still love a shock resist Gshock watch with alot of functions plus durability from vibrations
Incorrect it will not break down in your lifetime. Nor will it breakdown hundreds even thousands of years into the future. There are watches from hundreds of years ago that still work in 2022.
Marketing + human ego + pride + stupidity = luxury goods
If peasants didn't drool and faint at the sight of patek would royalty still deem it worthy?
let me save you 7 minutes, It's expensive because you are willing to pay the price. Stop buying them, after 7 months the price will drop 50% 👍
Aaand the Pope is😎😎wearing...?????....hahaha...
Still waiting to hear a good reason why their so expensive.???
Even $12,000 is absolutely ridiculous for something you tell the freaking time with (and YES I am VERY AWARE of the unbelievable amount of precision craftsmanship that goes in to creating a Fine Time Piece...ive been a Class A Aerospace Machinist for 15 years so i have a GENERAL idea of what "Precision" is). But $12000 for a watch when people are DYING of hunger and illnesses all over the world is just ridiculous.
With all due respect. The "people are hungry" or "they need more hospitals in, say, Latin America" argument is, at least, tricky. Going to the movies, buying a 20 dollar bottle of wine, getting a nice dress/suit is a sin and a waste of resources if that money could have saved lives. It doesn't work that way. And it is always a matter of scale. If you earn minimum wage, a Big Mac is luxury. If you make a couple millions a year legally (and pay taxes), a Patek Philippe is affordable and you can buy one with a clean concience.
thats some bullshit price i've ever heard for a watch.. come on....
Lot of hype. Mental games for the ignorant with money and lesser brain. There are many other fine options
This is for people with dumb money
dumb people with dumb money
Expensive is AP... Patek is exclusive
Extremely overrated brand, what they forgot to mention is how delicate this product is, also only costs the factory $500 to make. Fools fall for name and fame. Buy a Casio and you got a better watch at a fraction of the price.
So many triggered people just because........
Hope the Gen Z dump such bullshit purchases
Ho hum, just some more overpriced Swiss watches.
All BS!😎
D
D