Perfect Timing

Patek Philippe & Co. is one of the most famous^[1] and expensive brands of wrist watches in the world. Patek Philippe is currently owned by the Stern family and is led by Henri Stern and his son. Many watch collectors regard Patek Philippe timepieces as the best in the world. Over the years, Patek Philippe watches have been worn by a number of notable individuals, including members of royalty, movie stars and tycoons. Albert Einstein was also a customer. They are famous for manufacturing most of their own components, Lusso Magazine said, "Most Swiss watchmakers buy in the parts which they then proceed to assemble in their own premises. Patek does no such thing. Instead they manufacture all of their own parts and assemble them in their own building."

Patek Philippe produced an ultra-complicated (with 24 functions) pocket-watch for Henry Graves, Jr., who entered into a friendly horological competition with James Ward Packard, which resulted in the production of the watch sold to Mr. Graves in 1933. After his death, the watch was auctioned at Sotheby's in December 1999 for USD$11,000,000, at that time the most expensive timepiece ever sold. On April 10, 2008, 2003 "Ref. 5002P Sky Moon Tourbillon" platinum Patek Philippe tourbillon wristwatch made the world record as the most expensive modern wristwatch sold at Hongkong Sotheby's for HK$11.75 million ($1.49 million). It erased the previous record of Vacheron Constantin Tour de l'Ile sold at Antiquorum for $1.4 million in Geneva in 2005.