Patek Philippe Starts Frenzy with 170 Tiffany-dialed Nautilus Watches
Every now and then, a watch comes along that shakes up an otherwise stately industry. Just this week, Swiss watchmakers
Tristan Green
Every now and then, a watch comes along that shakes up an otherwise stately industry. Just this week, Swiss watchmakers Patek Philippe released such a watch – 170 such watches, to be more precise. Created to honor 170 years of partnership between Patek Philippe and Tiffany & Co., the watchmakers are releasing 170 Tiffany blue versions of their Nautilus 5711. The announcement has lit afire the watch industry as collectors scramble to be the ones to snatch up these one-of-a-kind pieces.
Just 170 to Celebrate 170 Years
It’s exciting news, but collectors are now scrambling to be in the right place at the right time to get their hands on these very limited watches. The announcement comes less than a year after the wildly popular Nautilus Ref. 5711 watch line was discontinued, which has raised the value of the watches since. After the last watches were released in January, collectors thought that would be it. And then Tiffany jumps in for the surprise, or rather – the Tiffany that’s now owned by LVMH.
CNBC reports via MSN, “Patek said it is making 170 special Ref. 5711 watches with a Tiffany-blue face that will be sold at select Tiffany boutiques. The watch was created to honor the 170-year partnership between the Swiss watchmaker and Tiffany, as well as Tiffany’s new ownership under French luxury giant LVMH, Patek Philippe said.
For Tiffany, getting the chance to sell what will arguably become the most sought after new watch in the world will add luster and marketing shine to the jeweler as it undergoes a makeover under LVMH and its chief, Bernard Arnault.”
In a statement to CNBC, Patek’s CEO Thierry Stern says, “This was my little gift to say congratulations on buying Tiffany. For me, it was quite clear I had to choose something unique and exceptional. This is really the last round for this watch.”
If you’re looking to get your hands on this brilliant, Tiffany-blue-dialed limited batch piece of art, it won’t come cheap. The 170 watches are on sale at Tiffany’s in New York City, San Francisco and Beverly Hills for the low low price of $52,653. Patek will also be auctioning one of the commemorative watches with Phillips in Association with Bacs & Russo in New York on December 11th, with 100% of proceeds from the sale benefiting The Nature Conservancy, a global environmental organization.
Patek Philippe Watches
If you know luxury watches, you know the name of Patek Philippe. The Swiss watchmaking company was founded in 1839 under the name Patek, Czapek & Cie by Antoine Norbert de Patek and François Czapek. In 1844, designer Jean Adrien Philippe receives a bronze medal for his keyless winding and hand-setting system, patented the following year and implemented at Patek by 1851.
In 1868, now-named Patek Philippe created the first Swiss wristwatch, for Countess Koscowicz of Hungary. Over the following decades, the company was at the forefront of watch design, creating the first perpetual calendar mechanism, first double chronograph, and the first complex lady’s wristwatch.
Over the next nearly 100 years, Patek Philippe continued to expand their technology and drive the direction of the watch industry. Swiss watchmakers are known the world over for their form, artistry, and precision – and Patek is at the forefront of those masters.
Even considering the popularity of these finely crafted pieces of functional art, the popularity of the Nautilus Ref. 5711 series has been a surprise, and its overwhelming demand and inflated prices led the company to stop selling them earlier this year – or so they said. The pandemic caused a shortage in stock and increase in demand, but luxury designers like Patek, Rolex, Richard Mille did not respond by upping production. The supremely intricate watches can take up to 10 years to make, and none of these brands are ever willing to sacrifice quality for quantity.
Supreme x Tiffany
While Patek is busy confounding collectors and raising blood pressure with these stunning limited-edition batches, Tiffany is making waves of their own. The beloved luxury brand was acquired by LVMH in January to the tune of $16 billion. Fans were immediately divided over the new, “Not Your Mother’s Tiffany” campaign launched soon after.
It was the brand’s attempt to reach Gen Z and younger Millenial shoppers who were bored by some of Tiffany’s more traditional designs and campaigns. But love it or hate it, after 184 years it was time for Tiffany’s to get a little bit of an update. They collaborated in November with Supreme – a streetwear brand known for customer loyalty and edgy design, quite outside of the norm for Tiffany.
MarketWatch reported ahead of the launch, “The Tiffany & Co. x Supreme ‘Return to Tiffany’ collection features a heart tag pendant ($450), an oval tag pearl necklace ($300), a star bracelet ($450), heart tag stud earrings ($300), a heart knife keyring ($525), an oval tag keyring ($300) and a t-shirt ($54). The designs, inspired by Tiffany pieces that originally launched in the 1960s, recognize each brand by incorporating Tiffany’s iconic heart pendant along with Supreme’s box logo.”
For two nearly-two-hundred-years old companies, they know how to make headlines. If you’re hoping to get your hands on one of these watches, you should move quickly – even at $52K, there’s nothing out there right now that compares to the hot-ticket value of these watches, so they’ll sell quickly. One watch collector remarked to CELEB, “A cobranded Patek is rare, as is the Tiffany blue face. With just 170 pieces and the 5711 otherwise out of production – this watch is on fire.” So get ’em while they’re hot.