Patek Philippe’s exquisitely crafted watches have enjoyed a steady appreciation in value over time, he notes. An iconic brand that has remained an industry leader over two centuries, it is the last watch manufacturer to remain independent.
SINGAPORE (Mar 18): In the last few years, well over US$42 billion ($57 billion) a year in total turnover was seen in the international watch market, which has more than 850,000 players. The market is dynamic and growing, declares Swiss watch expert Eric Tortella.
Tortella says in the past four decades, some 55% of international auction sales proceeds was derived from Patek Philippe timepieces alone. In the last three years, Patek Philippe, which has 1,500 employees, produced an average of 40,000 watches a year. Other top brands produce much more, he notes. Rolex, for instance, with 5,000 employees, produced about one million watches within a similar time frame.
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