A HISTORY OF PATEK PHILIPPEWATCHES, FROM THE PAGESOF WATCHTIMEMAGAZINE

THE WORLD OF F INE WATCHES

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known, would catch thehorological fever. He start-ed by buying high-qualitywatch movements, whichwere mounted in cases un-der his personal supervi-sion. But soon this was nolonger enough for the am-bitious Polish exile. On May1, 1839, in collaborationwith François Czapek, a Pole of Czech origin and himself an ambitiouswatchmaker, Antoine Nor-bert de Patek laid the cor-nerstone for his legendarylife’s work, founding hisown watch manufactoryunder the name Patek,Czapek & Co. The manag-ing pair and about half adozen employees beganproducing approximately 200 high-qualitypocket watches per year at their address at29 Quai des Bergues in Geneva. The totalultimately reached around 1,120 time-pieces of exceptional quality, each signedand bearing its own serial number. Amongthe clientele were many Polish emigrants,who at least could baskin the memory of theireastern homelandwhenever they glancedat their watches.

Antoine Norbert dePatek was grantedSwiss citizenship in1843. The next year, theyoung company showed its products atan exhibition in Paris. Here Patek heardfor the first time of the gifted watchmak-er Jean Adrien Philippe, born in 1815,who had built a pocket watch of aston-

Patek Philippe’s formerheadquarters on Rue du Rhone.

The shop is on the groundfloor.

the Birth of a Legendin a history spanning more than 160 years, Patek Philippe has not only

won international renown, but time and again has reconfirmed its standing

as one of the world’s most important watchmakers. it has emerged

unscathed from such crises as the quartz watch boom of the 1970s and the

takeover wave of the past few years, and today is healthier than ever.

Geneva in the 19th century

history: PAtEK PhiLiPPE

At the Congress of Vienna in1815, when the victor-nationsthat had vanquished Napoleon

once and for all started redrawing themap of Europe to their liking, it was theonce-proud kingdom of Poland that suf-fered the most. What remained, afterRussia had taken her fill, was the formerDuchy of Warsaw, now known as “Congress Poland.” In this tiny kingdom, in the little village of Piaski,there lived modestly a couple namedJoachim and Anna Patek de Prawdzicwith their son, Antoni Norbert, who hadcome into the world on June 12, 1812.

The era’s turmoil did not spare thePateks. Most notably, the momentouspolitical decisions of Tsar Nicholas I wouldhave a lasting impact on the young man’s

life. At 16, Antoni Norbert joined the FirstMounted Rifles of the Polish cavalry, un-der the ultimate command of the Tsar’sbrother, Grand Duke Constantine. Sosure was Tsar Nicholas of “his” Poles thathe made plans to send a portion of thisarmy into Belgium and France, to sup-press the revolution there. Somehow,word of the imperial brothers’ unsavoryintentions slipped out. So it was that in1830, shortly before marching orders ar-rived from the Russian capital, a group ofPolish cadets moved on Warsaw and oc-cupied the Belvedere Palace. Two Russiangenerals were killed, and Grand DukeConstantine fled.

On January 18, 1831, the Polish Parlia-ment repudiated the Tsar’s rule, and an-ticipating the worst, quickly reinforced

the army from 30,000 troops to 80,000.Nicholas I reacted by dispatching Russianforces. In the ensuing clashes, AntoniNorbert Patek saw combat as a freedomfighter against Russian domination. Bythe end of 1831 the revolt had been putdown. A period of ruthless Russianizationfollowed. Thousands of Poles, includinglarge portions of the army, fled the coun-try to escape the Tsar’s brutal reprisals andthe threat of the firing squad. Amongthem was Antoni Norbert Patek.

He first found political asylum in Paris.After brief interludes working for a com-mittee of refugees in Bamberg and as atypesetter in France, he chose Geneva ashis new home. In this famed watchmakingmetropolis, it was perhaps inevitable thatAntoine Norbert de Patek, as he was now

ishing thinness. Even more amazing wasthat the watch was wound and set usingthe crown, eliminating the nuisance of akey. Patek was so taken with Philippe andhis pioneering design that he made theFrenchman an offer: In 1845, on the expi-ration of the contract with Czapek,

Philippe would join theGeneva company astechnical director.

Jean Adrien Philippeagreed. On May 15,1845, Patek & Co. wasfounded, with head-quarters in Geneva.Philippe was one of the

partners. As of January 1, 1851, the as-piring company was renamed PatekPhilippe & Co. That same year, QueenVictoria of England acquired a pocketwatch bearing this signature. Prompted

by Philippe’s ingenuity, from 1845 on-ward the company used increasingamounts of production machinery of itsown design. Philippe also spent time onhis hobby, writing, and in 1863 hisground-breaking book on keyless pocketwatches was published in Geneva andParis. The daily Journal de Genève pro-claimed him an expert writer.

In contrast to the technical enthusiastPhilippe, Patek was a gifted businessmanwho concerned himself with marketingthe pair’s watches. When sales graduallystagnated in the economic depressionthat followed the European upheavals of1848, Patek began traveling extensively.From December 1854 to May 1855 hevisited the United States of America. OnNovember 23, shortly before taking shipto cross the Atlantic, he wrote from Paris:“The travails of the journey have begun.

Patek noted that“Life in New Yorkis very expensive.The cheapest cigarcosts four cents.”

Patek Philippe was already introducing thefirst timepiece of this type – the chrono-graph hand was reset with a key. In 1861,Adrien Philippe’s stem-winding workstook its final form. Two years later, he in-vented the slipping mainspring which pre-vents the mainspring from breaking whenfully wound, a crucial step in the evolutionof the self-winding watch.

The company showed its pocketwatches at the first Universal Expositionin 1855 in Paris and was promptly award-ed a gold medal. In 1867, at another ParisExposition, it offered models with a widevariety of complications. And in 1868

Patek Philippe made its firstwristwatch, for CountessKocewicz. Patek, by now aCount (he was ennobled byPope Pius IX for his servicesto the Catholic Church),died in Geneva on March 1,1877. His successor in thecompany’s managementwas the Frenchman JosephAntoine Bénassy-Philippe, ason-in-law of AdrienPhilippe. Patek’s son Léonwas content with the roleof a silent partner.

In 1890, the seniorPhilippe received the Crossof the Legion of Honor forhis services to France. InJanuary of the next year heretired, turning over hisplace to his youngest son,Joseph Emile Philippe. OnJanuary 5, 1894, JeanAdrien Philippe died. Untilearly 1901, the heirs con-tinued the company as afamily firm. Effective Febru-ary 1, 1901, they trans-formed it into a stock cor-poration, named “Anci-enne Manufacture d’Hor-logerie Patek Philippe & Co.S.A.” The company was

worth 1.6 million Swiss francs and five ofthe seven shareholders were on theboard. In 1915, Albert Einstein ordered agold pocket watch from Patek Philippe,with an elaborately engraved case. Andin 1923, American car manufacturerJames Warren Packard expanded his col-lection of Patek Philippes with a lectern-shaped table clock with a perpetual cal-endar in a silver case.

In 1932, the worldwide repercussionsof the Great Depression forced the com-pany to seek a solvent buyer for a majori-ty interest. It was a historic hour for broth-ers Charles and Jean Stern. As owners of

When will we be able to pro-duce watches at low cost andthen wait for the customersto come to us, instead oftraveling with our productsall over the world, at high ex-pense and hazard to ourhealth?” On December 14,he met Charles Lewis Tiffanyfor dinner. While the mendined, Patek’s room at NewYork’s first-class St. NicholasHotel was burglarized. Nextday he wrote: “Life in NewYork is very expensive. Sincefor security reasons I stoponly at first-class hotels, Icannot make do with lessthan 24 to 25 Swiss francsper day. Accommodationsand meals cost 25 dollars perday, a small bottle of winecosts a dollar, and the cheap-est cigar costs four cents. Mr.Reed and Mr. Tiffany werevery surprised to see me. Be-cause of the general state ofcrisis they cannot promise meto buy anything.” Patek’sworries were unfounded.Tiffany did buy, and in timebecame the company’slargest American customer.In 1876, Tiffany appointedPatek Philippe the company’s principalsupplier of pocket watches for the nextseveral years. But to accommodate theirclientele’s tastes, the Americans exerted asignificant influence on the design of theGenevan watches.

On January 26, 1855, Patek wrotefrom Charleston: “The Americans wantpocket watches that are not too expen-sive, with which they can time the speedof their horses to a quarter of a second.”What he meant was chronographs,which in the next few years quicklygained importance within the broad-based Patek Philippe collection. By 1856,

Antoine Norbert de Patek(1812 – 1877)

Jean Adrien Philippe(1815 – 1894)

Three generations: President Philippe Stern (right) with fatherHenri and son Thierry

The House of Patek Philippe on the former Geneva harbor, 1839

Bracelet in the form of a belt with built-in watch, signed Czapek & Cie, Geneva, ca. 1850

This golden cigar box with enamel paintings, signed Czapek & CieGeneva 1851, once adorned the collection of Egypt’s King Farouk.

history: PAtEK PhiLiPPE

the famed dial maker Fabrique de Cad-rans Stern Frères, they had long enjoyedclose business relations with PatekPhilippe. They came to the firm’s rescue.They were well aware of the risks and therewards involved in acquiring PatekPhilippe and decided to make the most ofthe opportunity.

The Stern Brothers came from Gürze-len, a small town near Bern. Their parentshad been enamel painters by profession.When the boys were still quite small, thefamily moved to Geneva, where theSterns’ superb handiwork was much indemand. The family established a dial fac-tory and made a resounding success of it.

In 1931, contemplating the takeover ofPatek, Charles and Jean Stern were notjust following their nose for a good busi-ness opportunity; they were going wheretheir hearts led them. Both wanted to pre-serve and expand a centerpiece of theSwiss watchmaking tradition. To this end,in 1933 they recruited Jean Pfister, headof the Geneva branch of the TavannesWatch Co. and a man with a technical andcommercial mastery of all aspects ofwatchmaking. In concert with the newowners, he quickly arrived at a decisionthat would have far-reaching conse-quences for the company’s internationalreputation: From then on, Patek Philippe

would make its own movement blanks,rather than buying them from LeCoultre.

Charles Stern’s son Henri, born May25, 1911, recalled: “In 1932 my dear fa-ther fell very ill, and asked me to go intothe dial factory for that reason. I workedthere until 1935, every weekday from 7till noon and from 2 to 6 in the afternoon,including Saturday mornings. Part of thetime I was my father’s assistant, part ofthe time I was an engraver. At last I man-aged to convince my father and my uncleto let me work at Patek Philippe. There Ihad the great good fortune to get toknow Jean Pfister. He was cut from thesame cloth as my father.”

an alternative to mechanical movements.Henri Stern was a particular fan of thistype of timepiece. Asked whether he wasimpressed with watch production, the fa-ther of today’s president, Philippe Stern,answered: “Yes. But making electronic in-struments fascinated me even more.They’re significantly more precise. We’reno longer talking about tenths or hun-dredths of a second, but thousandths.”Henri Stern took over as president ofPatek Philippe in 1958. In 1960 he proud-ly presented the world’s smallest quartzclock to date, a box that measured just 5by 4 by 2.3 inches and caused a sensation.

Around this time the first wristwatch-es with independently adjustable hourhands also reached the market. Theywere conceived for discriminating jet-set-ters who wanted to reset their watchesconveniently to the local time. Two differ-ent configurations were available, withone hour hand or two. The latter versionshowed not only the local time but thetime at home.

It went without saying that PatekPhilippe would have a share in the CentreElectronique Horloger S.A. (CEH), found-ed in 1962. The company pursued re-search in electronic timekeeping, and ul-timately developed a competitive quartzcaliber for wristwatches. The product wasready for serial production in 1969. ThusPatek Philippe was among the proud pre-senters when Switzerland’s first quartz

Above: Golden bracelet with built-inwatch; the dial is concealed under alarge diamond. Patek Philippe, 1868-73

Top right: View in 1862 across thenew Pont du Mont Blanc to the oldcity; Patek Philippe headquarters is lo-cated on the left in the photo, on thefar side of the lake.

Right: Golden Iorgnette

Above: Back dial of Caliber 89 with the sky above Geneva; the dial indicates solartime, equation of time, sunrise and sunset, date of Easter, and signs of the zodiac. Bottom left: Caliber 89 in its presentation case. Below: The workbench of masterwatchmaker Paul Buclin, who worked on Caliber 89 for many years.

history: PAtEK PhiLiPPE

Patek Philippe rapidly regained groundunder its new management, recovering fi-nancially and acquiring new customers.An excellent start for the company’s fu-ture was ensured by an American, HenryGraves, Jr. In 1933, he bought the thenmost complicated Patek Philippe pocketwatch, a technical masterpiece equipped,among other features, with grande andpetite sonneries, a Westminster chime, aminute repeater, a perpetual calendar,equation of time, an astronomical chart,and a chronograph rattrapante. The price:$60,000. In 1999, the opulent pocketwatch sold at auction for $11 million.

Charles Stern served as Chairman ofthe Board of Directors from 1935 on-ward, assisted by his son Henri. By 1937,Henri was named head of Patek PhilippeIncorporated of America, and soon be-came familiar with every corner of theAmerican market. “I traveled the Statesfor months,” he said. “I think I knew

more about the country than the averageAmerican. I was on the road five or sixmonths a year as a salesman, visiting cus-tomers or making friends, exploring newcities.” When World War II broke out inEurope in 1939, HenriStern returned toSwitzerland for a fewmonths to serve hisstint in a cavalry unit ofthe Swiss Army.

In 1940 he flewfrom Lisbon back toNew York in an old Yan-kee Clipper. That sameyear he showed up in South America, vis-iting the Patek Philippe agents there in ex-tremely trying times. “It was more andmore difficult to travel during the waryears. More than once I had to sleep in anarmchair in a hotel lobby because therewere no more rooms. The work was hard,but it had to be done – it was what my fa-

ther expected.” In 1942 Henri Sternopened his own sales firm in New York.Two years later he was mourning the lossof his father. From 1946 on, the HenriStern Watch Agency, of New York, was

responsible for salesand distribution ofPatek Philippe watchesthroughout the U.S.Pfister resigned in1946, and Henri Sternbegan spending a lot oftime in airplanes. “Icouldn’t live in Genevaall year round. The in-

ternational business more or less forcedme to commute between Geneva andNew York.”

In 1948 Patek Philippe established itsown electronics department, which pre-sented its first clock in 1950. Later it tookon the task of developing its own quartzmovements with analog time displays, as

When PhilippeStern took over thecompany, quartzruled. Mechanicalwatches were an

endangered species.

The Patek Philippe showroom, located on Rue du Rhone at Patek Philippe’s formerheadquarters (below)

Patek Philippe’s first quartz watch,Ref. 3603/1, with caliber Beta 21,1970

history: PAtEK PhiLiPPE

wristwatches, containing the legendaryBeta 21 caliber, were introduced at theBasel Fair on April 10, 1970.

Henri Stern successfully guided thefamily firm until 1977, when he yieldedthe helm to his son Philippe. Born in1938, thoughtful and dynamic in equalmeasures, Philippe Stern has taken PatekPhilippe to new heights over the last twodecades.

However, when Philippe Stern tookover the manufactory, times were not soeasy. King Quartz reigned supreme, andonly the most old-fashioned executive stillgave any thought to mechanical watch-es. Philippe Stern had little choice but toattempt to straddle the awkward gap be-tween tradition and modernity – in otherwords, to maintain parity between elec-tronic and mechanical wristwatches. Forinstance, 70% of Patek’s women’s wrist-watches were powered by quartz move-ments.

Yet in the next few years the pictureslowly but surely changed. Around 1984,collecting vintage wristwatches cameinto vogue and sparked a tumultuous re-naissance in mechanical watches. One ofthe greatest beneficiaries by far wasPatek Philippe. Prices for timepieces frompast decades soared. By 1989, whenPatek Philippe celebrated the 150th an-niversary of its founding, “Patek fever”had infected watch connoisseurs andwas reaching new heights. A book on thefirm’s wristwatches stimulated the mar-ket still further. A Patek Philippe anniver-sary auction generated sensationalprices. Limited-edition models sold outentirely in advance. A chronograph with aflyback seconds hand (ref. no. 1436) thathad sold for about $1,000 at a watchshop in 1961, was auctioned for morethan $175,000 not even 30 years later.Patek’s limited-edition officer’s watch of1989 fetched more than twice its originalprice.

One rather skeptical witness to thisfeeding frenzy was Philippe Stern. “Ofcourse we like to see our timepieces main-taining their value,” he commented in1993, “but when one so often hears thatyou can buy a new Patek Philippe todayand resell it at a big profit tomorrow – Ithink that’s simply dishonest. If someonebuys a Patek, first and foremost he shouldenjoy it. Then there will be no disappoint-ments if prices don’t develop as expected.And another thing: I think the prices peo-

ple paid at the auction for the 150th an-niversary of Patek Philippe in 1989 wereunnaturally high. That is why they’ve lev-eled back off again.” Stern backed up hiswords with action. He consistently limitedthe development and production of par-ticularly speculative wristwatches withcomplex additional functions like achronograph, a perpetual calendar, atourbillon or a minute repeater. “At PatekPhilippe we are looking for stability in themarket. We have no desire to make com-plications simply for complication’s sake.For example, we have no intention of pro-ducing a self-winding chronograph with aflyback seconds hand, perpetual calendarand minute repeater. We could easily doit, but we regard such massive watches asmore for show.”

Stern pared back production of highlycomplicated models, systematicallythinned out the dealer network, and im-posed iron discipline on distribution part-ners. Complicated pieces could no longerbe ordered for stock; today, orders mustbe accompanied by a down payment andthe buyer’s name. Success has provedPhilippe Stern right. Patek Philippe’s newwatches are more coveted than ever, as isevidenced by the continually growing de-mand. Potential customers may wait sev-eral months for certain models. They un-derstand why, and are willing to wait, un-complainingly, for their watches.

Maintaining its “high-mech” heritageis of fundamental importance for PatekPhilippe. “Most of the men’s watches wemake today incorporate mechanicalmovements,” says Stern. “Our quartzwatches are primarily for women. Manywomen prefer quartz technology for itsconvenience. With quartz, you don’thave to wind and set the watch.” Re-gardless of which typethey are, almost allmovements used todaycome from the compa-ny’s own manufactory.Patek Philippe buys onlythe movement blanksfor its hand-woundchronograph from out-side suppliers. But thattoo probably will change soon. “We’reworking on a movement of that kind,”reports Stern. But he’s keeping mum as towhen it will reach the market.

By contrast, Stern is anything but taci-turn about the significance of the compa-

ny’s more than 160 years of history to itsposition today: “Our history is extremelyimportant to our all-around success. PatekPhilippe has been an uninterrupted pres-ence on the market since 1839, and hasregularly made news with outstandingproducts. That represents a very materialcontribution to a brand’s reputation. Thecrucial factor for us is that down throughthe years, we’ve always made watches.That, in turn, has brought us a great dealof indispensable know-how, from whichnaturally we can profit today.”

That know-how has taken PatekPhilippe to the very top of the luxury

watch trade – and al-most without rivals.What other maker canoffer such a broadrange of complicationsor such a degree of sus-tained continuity? “Thisis where a family firmhas real advantages,”Stern explains. “We can

plan and invest long-range, because weknow exactly who we’re doing it for. Ournew factory would certainly never havebeen built if Patek Philippe were underthe umbrella of a corporate group. Theshareholders would be more interested in

their dividends than in any such building.As a family operation with a deep tradi-tion, we can always take the time to thinkout carefully what we want to do, andwhat we don’t. Such as holding on to oldstrategies, or planning new ones. Or de-veloping a new movement, which takesthree to four years. But it makes no dif-ference. What counts for us in the end isthe result. And the result has to meet ourhigh expectations.”

In this family firm, the owner guidesevents personally. Stern’s designated suc-cessor is his son, Thierry. Says Stern: “Ihope Thierry will stick with the strategy ofkeeping Patek Philippe an independentfamily firm.” Thierry, for his part, feelsthoroughly at home in his role as CrownPrince, though he admits that “it’s not al-ways easy. But it’s wonderful being ableto work with my father, and learn fromhim. Of course it would be my goal too toremain independent and not be swal-lowed up in a corporate group. I realizePatek Philippe embodies a style all itsown, and I hope I have a real sense forthat style. It would be extremely impor-tant to me to preserve our customers’confidence in our taste.” Thierry is wellaware of the difficulties in having to treadin the footsteps of such a successful fa-

The family firm’sindependenceseems assured.

Thierry Stern callsit his top priority.

ther. “But I’d rather be in this situationthan any other,” he says. “I’m very proudof what he’s achieved, and I hope I canaccomplish something similar, possiblyeven better. Why not? But there’s a lot tolearn, first.”

He has no lack of role models. History isalways a presence at Patek Philippe.Philippe Stern, a graduate in business ad-ministration and a seasoned manager, is atThierry’s side to help. He sent Thierry toGermany to gather retail experience atWempe and Huber. And in New York,where his grandfather Henri once did suchimportant developmental work, ThierryStern learned to handle distribution for anentire country. He also completed a coursein watchmaking. Now he’s back at thehead office in Geneva, working his waythrough all departments. As president-designate, he has to know all the different

things that go on in thecompany. The competitionnever sleeps, and avid in-vestors are just waiting for achance to add this pricelesspearl to their portfolio.Which is one major reasonwhy Thierry Stern repeated-ly emphasizes that preserv-ing independence is his topgoal. “My father laid thegroundwork. Our manufac-tory couldn’t be better, thecollection is just right. I’ll fol-low him, of course, in keep-ing complicated watchesand developing new cal-ibers. And for the rest, Ihave to give a great deal ofattention to sales and thecreative side. Both are veryimportant for keeping

Patek Philippe at the top.”A small portion of all that Patek

Philippe has achieved in technology andwatchmaking over more than 160 yearsis gathered in a prestigious collection thatnow comprises more than 2,000 pocketwatches and wristwatches. A representa-tive sample of these will be on display atthe company’s new museum starting inthe autumn of 2001. Then, anyone whois interested can experience the great tra-dition of this Geneva family firm first-hand. And discover that historical realityat Patek Philippe is far more fascinatingthan any words or pictures can explain.

Gisbert L. Brunner

Movement of a Patek Philippepocket watch with a screw com-pensation balance, typical indexcam for the regulator adjuster, andthe Geneva Seal (bottom left)

Right: Cover of the first edition of “Keyless Watches” by AdrienPhilippe, Paris 1863

View of the old city with the lakeand the fountain, 1886

Exclusive limited-edition watches: To celebrate the opening of the new watchmaking workshops in 1997, the Pagoda (top left)was produced in an edition of 2,000 men’s models (Ref. 5500) and 750 ladies’ models (Ref. 4900). The self-winding minute repeater(Ref. 5029), commemorating the same event, was produced in a strictly limited edition of only 30 watches (top right). On the occasion of its 150th anniversary in 1989, Patek Philippe launched several new models, among them the Ref. 3969, a men’s watchwith a jumping digital hour indicator (edition of 500, bottom left) and the officer’s watch (Ref. 3960, edition of 2,200,bottomright), modeled after an original dating from 1916.

history: PAtEK PhiLiPPE