The Most Expensive Watch In The World 2023 - Patek Philippe

 In the age of smartphones and mobiles, there is little need for watches to keep track of time. However, there is no substitute for a watch to create a formal look. Today, watches are better known as accessories of aristocracy, hobbies, and fashion than as timekeeping devices. Starting from just a few hundred rupees, the price of watches can be beyond your imagination. Even the least interested person is bound to ask the question – why is the price of a watch so unbelievably high?

Brand

Whatever one may say, the brand value of the manufacturer plays the most important role in determining the price of the watch. If you ask someone which is the most expensive watch brand, most will say Rolex. It is not much wrong with the answer. Because the list of the 10 most elite brands must have the name Rolex. Founded in 1905, this Swiss company has been able to supplement its name with elite sports like tennis, and golf. Also, the use of Rolex watches by numerous famous personalities has increased their brand value manifold.

But if you say the most famous and expensive watchmaker, the name of Patek Philippe will definitely come first. Even the least expensive watch from this Swiss company, founded in 1839, will set you back around $10,000. Also, Vacheron Constantin, A. Lange & Sohne, I.W.C, Breguet's, Jaeger-LeCoultre, Omega, Blancpain, and Audemars Piguet brands will make it to the top 10.

Movement or Driving Force

Depending on the movement or driving force, watches can generally be divided into 2 categories. Which are quartz or electrical movement and mechanical movement respectively. Most of the clocks we know (from wall clocks to most budget clocks) are powered by quartz or electrical movements. In this type of movement, the electricity from the battery powers a small motor that plays a role in the movement of the clock hands. Invented at the turn of the 20th century, the quartz movement played an important role in bringing the price of watches within the reach of the masses.

Quartz watches are more accurate than mechanical watches and are (usually) more affordable, but if you're a watch collector, your collection will never be complete without a mechanical watch. Mechanical clocks keep time from stored energy. There are no electrical parts inside it. Instead of calling it a mechanical watch, it may be easier to recognize it as a 'breathing watch'.

Before the 20th century, the mechanical watch was referred to as a watch. A watch winding was done by turning a watch handle (known as a crown in watch cases). The manufacturing process of a mechanical watch is more complicated than that of an electrical watch, but with proper care, a mechanical watch can be your lifelong companion.

Automatic watches are very popular nowadays which is another type of mechanical watch. These watches do not need to be wound separately but are designed to store energy with the slightest movement of the hand while in your hand, and then keep it in motion for long periods (from twenty hours to sometimes hundreds of hours) with the help of a spring.

Complications

Anything else that can be done in a watch other than showing the time (Additional Features) is called a complication of the watch. If your wristwatch can show the date as well as the time, that is also a watch complication. More complication numbers can increase the price of the watch manifold. When it comes to watches with the most complications, the reference 57260 model from Vassuron Constantin comes to mind. This watch consists of 2800 separate parts. You will be surprised to know that the watch has 57 different complications. To own a watch like this you need to have at least 8 million USD in the bank.

Type of Movement

Different types of watches are known based on the type of main driving force. But quartz, mechanical and automatic watches can be divided into many more parts based on the design, type, different frequencies of the parts, and other factors. While this detail of the internal parts of a watch may not seem very important to everyone, it is of considerable importance to watchmakers and many collectors.

Mechanical watchmaking is the art of top watchmakers. And the construction of complex watches (Complex Watch) plays a role as a criterion of excellence as well as status for them. In addition to having the most complications, the reference 57260 model by Vassuron Constantin described above is also the most complicated watch in the world.

While top brands use their own movement systems, many major manufacturers use movement systems built by third parties. Some of the more expensive movement systems include ETA's Valjoux 7750 movement (used in some Omega watches), Lemania's Lemana 2310 movement (used in some world-famous Patek Philippe watches), IWC Caliber 5000 to name a few. (All movements mentioned are used in mechanical watches).

Apart from this, various manufacturers use their own movement system which is known as 'in-house movement. In-house movement is a measure of manufacturers' status as well as playing a role in pricing.

Perpetual Calendar

Many watches can also display date and day calculations along with the time, which is one of the simple watch complications. If your watch is normal and it has this feature then you need to change the date and day calculation at least 5 times a year (because the year has 7 months of 31 days and 4 months of 30 days and there in February).

But if your watch is a digital watch then it can keep the date and day by itself. Digital clocks use small chips to keep track of which months have 30 days and which months have 31 days, as well as leap years. But in the case of analog clocks, it is difficult to store these data.

Quartz watches use several electrical chips to keep the day and date accurate. But achieving this feature in mechanical watches is very difficult and can make these watches sky-high. These clocks that can accurately calculate the date from leap year to month are known as perpetual calendar clocks.

Materials

Needless to say, construction materials play an important role in determining the price of a watch. Precious metals like platinum and gold have been used in watches for ages along with precious stones like diamonds and emeralds can increase the value of the watch by a lot.

Top manufacturers produce limited editions of their popular models in platinum, gold, or other precious stones; Which can cost much more than other watches of the same model. In addition to precious metals, Rolex uses a special type of steel in their watches whose composition they keep strictly secret. According to their claims, this steel is much more corrosion-resistant and corrosion-resistant than normal stainless steel.

Limited Edition

Although limited editions are not always made of precious metals or stones, their uniqueness and rarity may account for their unusual origins. In 2016, a Patek Philippe reference 1518 watch with a simple steel casing sold for around $1.1 million at a Geneva watch auction. This unusual origin of the watch is due to the watch being part of Patek Philippe's 'The Originals' series of which 4 have been produced so far. The first watch was sold at auction.

Construction Period

The construction period is another important criterion in determining the price of the watch. You will be surprised to hear that, according to Rolex, it takes an average of 1 year to build a Rolex watch. And Patek Philippe claims that it takes an average of 4 years to build a simple watch, 6 years for a complicated watch, and 8 years for a Very Complicated watch. An example is the Patek Philippe Grandmaster Chime watch. It took Patek Philippe 100,000 hours to make this $26 million hand-crafted watch.

History

The time of manufacture of the watch, its own history, and sometimes the fact that it is in the collection of famous people can also play a role in determining the price of the watch. An example is Brigitte's Grand Complication Marie Antoinette watch.

The watch currently holds the status of the most expensive pocket watch in the world (US$ 3 million). Marie Antoinette, Queen of France, commissioned Abraham Louis Briggate to build this clock in 1782. Abraham's son completed the construction of this clock in 1827. Queen Antoinette could not see the clock because she was executed 34 years before the clock was completed. This watch is ranked 3rd among the most expensive watches in the world.

Basically, these factors play a key role in the unimaginable price of the watch.