Patek Philippe & Co.

Infobox Company
company_name = Patek Philippe
company_
company_type = Watch Maker
foundation = 1851
location = Geneva, Switzerland
key_people =
area_served = Worldwide
industry = Watch Making
products = Watches
revenue =
operating_income =
net_income =
num_employees =
parent =
subsid =
homepage = [http://www.patek.com www.patek.com]
footnotes =

Patek Philippe & Co. is an upscale Swiss watch manufacturer. It is currently owned by the Stern family and is led by Henri Stern and his son. Over the years, Patek Philippe watches have been worn by a number of notable individuals, including members of royalty, movie stars, and tycoons. They are notable for manufacturing most of their own components.

History

Antoni Patek started making pocket watches in 1839 in Geneva, along with his fellow Polish migrant Franciszek Czapek. They separated in 1844, and in 1845 Patek joined with the French watchmaker Adrien Philippe, inventor of the keyless winding mechanism. In 1851, Patek Philippe & Co was founded.

In 1868, Patek Philippe made their first wristwatch. They have also pioneered the perpetual calendar, split-seconds hand, chronograph, and minute repeater in watches. The company, like most high-end watch companies, produces mostly automatic and manual watches but has produced quartz watches in the past and even a digital wrist watch, the Ref. 3414.

Most expensive

Patek Philippe produced an ultra-complicated (with 24 functions) pocket-watch for Henry Graves, Jr., who entered into a friendly horological competition with James Ward Packard, which resulted in the production of the watch sold to Mr. Graves in 1933. After his death, the watch was auctioned at Sotheby's in December 1999 for USD$11,000,000, at that time the most expensive timepiece ever sold. [cite web| url = http://www.forbes.com/2001/11/28/1128pow.html| title = The Most Expensive Watch | accessmonthday = November 3| accessyear = 2007] On April 10, 2008, 2003 "Ref. 5002P Sky Moon Tourbillon" platinum Patek Philippe tourbillon wristwatch made the world record as the most expensive modern wristwatch sold at Hongkong Sotheby's for HK$11.75 million ($1.49 million). It erased the previous record of Vacheron Constantin "Tour de l'Ile" sold at Antiquorum for $1.4 million in Geneva in 2005. [ [http://uk.reuters.com/article/lifestyleMolt/idUKHKG18929820080410 uk.reuters.com, Watch sets record price at Hong Kong auction] ]

Ownership by royalty

Patek Philippe watches have enjoyed great demand among discerning collectors and watch connoisseurs of a high social status and wealth. Since Queen Victoria’s reign, monarchs, popes, political leaders, and rulers have purchased timepieces manufactured by the brand either for their personal use or as a precious gift to be presented to an important guest, or in recognition of someone's remarkable bravery and loyalty.

In 1851, Patek Philippe started supplying its watches to Queen Victoria and her consort. Timepieces of the Genevan manufacturer immediately attracted attention of all the royal courts of Europe. Queen Victoria acquired a key-wound Patek Philippe watch created in a pendant style in November 1851 during the Great Exhibition of London. Queen Victoria owned one more exclusive Patek Philippe timepiece to be worn pinned to clothing. The watch suspended from a diamond and enamel brooch.

The list of Patek Philippe noble clientele also highlights Pope Pius IX, Christian IX and Louise (the king and queen of Denmark), Victor-Emanuel III (king of Italy and Duke of Savoy), and Hussein Kamal (prince of Egypt in the period of 1914-1917). [ [http://watches.infoniac.com/index.php?page=articles&catid=1&id=13 Timepieces Owned by Kings and Queens] ]

Anniversary edition

In 1989, Patek created one of the most complicated mechanical watches ever made, the "Calibre 89", created for the 150th anniversary of the company. It holds 33 complications, including the date of Easter, a thermometer, time of sunrise, equation of time, sidereal time, and many other indicators. 1,728 unique parts allow sidereal time a 2,800 star chart, and more. [cite web| url = http://marina.fortunecity.com/westindia/59/ppc89.htm| title = The Patek Philippe Caliber 89| accessmonthday = November 3| accessyear = 2007] The Calibre 89 is also able to add a day to February for leap years while leaving out the extra day for every 100 year interval.

Patek Philippe is also renowned in the watch auction circles, and their timepieces have recorded high closing prices worldwide. A large part of the demand for auction pieces is driven by Patek Philippe themselves, as they are often purchasing in the auction market to add to the collection of the Patek Philippe Museum in Geneva.

In 2005 the company introduced the revolutionary Silicon escapement wheel to the industry. [cite web| url = http://www.net2watches.net/default.aspx?PageName=iW-2005+May%3A+Reinventing+the+Wheel+p.2| title = Reinventing the Wheel| accessmonthday = February 22| accessyear = 2007]

Gallery

ee also

* Calatrava (watch)
* Automatic watch

References

External links

* [http://www.patek.ch/ Patek Philippe Official Site]
* [http://www.lussoluxury.com/content.asp/read-102042008205002/A_comparison_of_four_contrasting_watch_companies;_Big_Small_Old_&_New_Patek_Phillipe_Phillipe_Dufour_Blancpain_&_FP_Journe_.html Factory Tour and Watch Company Comparison]
* [http://wwp.greenwichmeantime.com/clocks-watches/watch/watches/patek-philippe/collections/ten-day-tourbillon-5101/ An article about Patek Philippe's watches]
* [http://users.tpg.com.au/wookie99/patekphilwatches.html Patek Philippe Watch Index] A handy reference of current Patek Philippe watches, listed by size, caliber, case material, bracelet material, dial color and model number.