Patek Philippe Bucks Cooling Watch Demand With Price Increases
- Swiss luxury brand raised global prices about 7% this month
- Watchmakers have vowed caution after years of big price hikes
Patek Philippe SA, the family-owned Swiss brand coveted by high-end watch collectors, raised prices across its model lines, bucking an industry trend toward slowing the rate of increases.
The Geneva-based company, known for its Grand Complications, Calatrava dress watch and Nautilus sports models, increased prices by an average of about 7% on Feb. 1, according to information on its website. The price of the 5236 perpetual calendar model in platinum, for example, climbed to £121,100 ($152,803) from £113,330.