by Shadia

Patek Philippe

/ Jewelry / Watches /

The company responsible for making the most expensive watches in the world traces its roots to 1839, when a partnership was formed between an exiled polish nobleman, Antoni Patek and his compatriot, Francois Czapek. In 1851, several years after Czapek left the partnership, Jean Adrienne Philippe, a French watchmaker, and Antoni Patek founded Patek Philippe & Co.

In the early days of partnership, one of the reasons for their success was Philippe's invention of the stem-winding system and hand setting mechanisms.

At the 1867 Paris Exhibition, Patek Philippe introduced complications (functions) that would become the standard for complicated watches in the beginning of the 20^th century. The complications included a perpetual calendar, a chronograph with split seconds, a repeater, and advancements made to the free mainspring and the sweep seconds hand. In 1932, Patek Philippe changed ownership. Charles and Jean Stern became the new owners. Today, the third generation of the family continues to run the business.

The two most complicated watches of all time were made by Patek Philippe. The first was completed in 1932 for Henry Graves, an American banker and art collector. The famous pocket watch took four years to build and holds the record for the most expensive watch ever made. In 1999, the gold pocket watch sold at Sotheby's for $11,002,500.

The Caliber 89, considered the most complicated watch in the world, was completed in 1989 to mark the company's 150^th anniversary. The 18 carat, white gold clock watch with 33 functions sold in 2004 for $5,002,500. Among the 100 most expensive watches sold at auction, 80 were from Patek Philippe.

Patek Philippe & Co has made important and innovative advancements in horology and continue to master the art of Swiss watchmaking. Amongst the most discerning watch collectors, Patek Philippe is considered as being the best in the world.