Vol 6 - Market Breakdown: Haute Horlogerie Brands
Last updated: Jan 2024 | Est. 10 mins
Welcome back to the Oliver Digest, where we talk about all things watches without the influence of dealers and sponsors.
Our last chat was all about the heavy-hitting established brands such as Rolex that continually knock it out of the park with their timeless style and dependability. Today, we’re shedding light on those watch brands that have staked their claim in the exalted realm of Haute Horlogerie. It’s the Mount Olympus of watchmaking.
Audemars Piguet Royal Oak Jumbo Ref. #15202
Haute Horlogerie includes brands that have wowed us with their finesse, their mastery over the most convoluted mechanical works, and the rich history behind their names. These brands don't play the mass-production game, as their focus is crafting something special and in limited numbers.
We’ve got four big leaguers in our Haute Horlogerie lineup today:
1/4 - Patek Philippe
Antoine Norbert de Patek and Jean-Adrien Philippe joined forces in 1839 to create a watch brand that just can’t be beat—Patek Philippe. This brand’s dedication to aesthetics, inventive designs, and flawless workmanship makes it a singular player, even leaving Rolex in the dust. Patek Philippe’s knack for scoring in both dress and sports watches is something other brands can rarely achieve. Their creations, regardless of type, represent a perfect blend of minimalist elegance, enduring aesthetics, and top-shelf quality. It's worth noting that Patek produces about 60,000 watches a year, but most of these pieces go straight to collectors, which means only a few lucky folks get to be new Patek owners each year.
Patek Philippe Nautilus Ref. #3700
Patek Philippe has an impressive roster of iconic models, each setting the bar in their respective categories. Their Calatrava, for instance, has been the gold standard in dress watch design for nearly a century. The Nautilus, Patek's crowning achievement in sports watches, is recognized as the quintessential luxury sports watch, fully manifesting legendary designer Gerald Genta's vision. This lineup reflects Patek Philippe's ethos that prizes purity, elegance, and enduring sophistication.
Aside from the eye-catching looks, Patek Philippe’s commitment to mechanical excellence is also evident in their top-of-the-line movements. For instance, the automatic movement in their Ref 2526 is still considered one of the best ever created. Their unwavering devotion to design and technical brilliance keeps Patek Philippe at the top of Swiss watchmaking, earning them the most prominent clientele of any watch brand for over a century. The secondary market reflects this excellence, with most Patek Philippe watches typically ranging from $15,000 to $300,000, depending on the model and condition.
Patek Philippe Calatrava Ref. #2526
2/4 - Audemars Piguet
Audemars Piguet was brought to life in 1875 by Jules Louis Audemars and Edward Auguste Piguet. This brand has carved out a unique space with its fusion of time-honored craftsmanship and trailblazing design. Although famous for a single model, the Royal Oak, the brand's dedication to aesthetic execution and manufacturing excellence has earned it a place among the top 3 favorite watch-makers of the past few decades (sharing the podium with Rolex and Patek).
Audemars Piguet Royal Oak Day Date Moon Ref. #25594ST
In the face of the 1970s quartz crisis, when accurate and affordable quartz watches threatened to wipe out the Swiss mechanical watch industry, Audemars Piguet did something bold. They tapped the legendary designer Gerald Genta to come up with a unique luxury steel watch concept that has forever changed the luxury watch game. The result was the Royal Oak, a watch that completely disrupted the industry's idea of what a luxury timepiece should be, and helped to revive the entire Swiss mechanical watch industry.
The Royal Oak's success has been so phenomenal that some critics have dubbed Audemars Piguet as a "one watch brand.” Regardless, it's noteworthy that this iconic model has made a significant impact in horological history and has even inspired industry giants like Patek Philippe and Vacheron Constantin to collaborate with Genta to create their own iconic pieces like the Nautilus and the Overseas. Prices for most Audemars Piguet pieces range from $15,000 to $250,000 on the secondary market.
Audemars Piguet Royal Oak Ref. #15202
3/4 - Vacheron Constantin
Vacheron Constantin is one of the oldest watch manufacturers still in operation, founded in 1755 by Jean-Marc Vacheron. Despite its deep-rooted heritage and a reputation for intricate craftsmanship, the brand has faced challenges in keeping its designs fresh and relevant. Some critics have argued that Vacheron Constantin's dress watches have failed to evolve with changing tastes and trends.
Vacheron Constantin Traditionnelle
However, Vacheron Constantin has shown its ability to bounce back. Their Overseas model, in particular, has been a game-changer, gaining popularity in recent years. The blue dial version has been praised for its fresh, modern look, signaling a shift in Vacheron Constantin's design direction and pushing the brand back into the limelight.
Even with some historical missteps, Vacheron Constantin remains a beloved and respected name in the watchmaking industry. The brand's Patrimony dress watch designs have historically been well-received, even if these designs haven't aged as gracefully as Patek’s Calatrava designs. The Overseas' popularity signals a hopeful future for the brand, showing that Vacheron Constantin can honor its heritage while adapting to the modern luxury watch landscape. The brand's pieces typically range from $10,000 to $150,000 on the secondary market.
Vacheron Constantin Overseas Perpetual Calendar Ultra-Thin Skeleton 4300V/120R-B642
4/4 - A. Lange & Söhne
A. Lange & Söhne was founded in 1845 by Ferdinand Adolph Lange and is the only non-Swiss watchmaker in this lineup. Based in Glashütte, Germany, this brand showcases the very best of German watchmaking.
A. Lange & Söhne Datograph Perpetual Calendar Ref. #410.038 E
A. Lange & Söhne's lineup includes distinctive models that demonstrate the brand's commitment to horological excellence and unique design ethos. Standout models include the Lange 1, with its off-center dial layout and oversized date window, and the Datograph, widely regarded as one of the finest chronographs in the world. These designs incorporate quintessential Lange characteristics that set them apart from traditional Swiss watchmaking, like a three-quarter plate for the movement, blued screws, and unique dial presentations. Behind their striking dials, A. Lange & Söhne watches also feature beautifully decorated see-through case backs that showcase their meticulously crafted movements.
The brand's watches typically range from $15,000 to $200,000 on the secondary market. The German brand has carved a niche for itself in the horological world, which is refreshing to see in a world often dominated by Swiss watchmakers.
A. Lange & Söhne Lange 1 Ref. #101.032
To wrap it up, these four giants of Haute Horlogerie offer an unrivaled showcase of watchmaking at its finest, each standing strong with their unique narratives, design sensibilities, and artisanal craftsmanship. The price tags, however, are steep to reflect the exceptional quality and exclusivity that these timepieces bring to the table.
It is typically advised by seasoned collectors for these watches to not be the first watch in a collection. It is typically advised for the collector to have a piece from an established brand first to then purchase an haute horlogerie piece to build the collection. You can think of these watches like super cars - McLaren cars are typically not the best daily rides, collectors would recommend you to get a daily car first before adding on the McLaren to your collection.
