Patek Philippe’s Nautilus Watch Returns in Tiffany Blue

Most observe enthusiasts would agree that possessing a timepiece by Patek Philippe signifies you have arrived in the horological huge leagues.

But, for more cachet, what if the deal with of the watch showcased the retailer’s title — say, Tiffany & Enterprise — and was the coloration of its signature robin’s egg blue? And, for even more, what if the model ended up a version of the just lately discontinued Ref. 5711, the metal Nautilus, just one of the most coveted wristwatches in the entire world?

Very well, then you would have the equivalent of a horological unicorn, the hypothetical benefit of which may rewrite the report reserve for secondhand enjoy profits.

Right up until currently, the luxurious look at earth was not knowledgeable of this kind of a timepiece. But fantasy is to satisfy reality later this month, when the design is scheduled to be sent to Tiffany areas in New York Beverly Hills, Calif. and San Francisco.

Recognised as Ref. 5711/1A-018, this Nautilus will be confined to 170 parts to honor the 170th anniversary of Patek Philippe’s partnership with Tiffany — which include 1 piece that the retailer is organizing to consign to Phillips for its New York observe auction on Saturday, with proceeds benefiting The Nature Conservancy, a world-wide environmental organization.

“We’ve been performing so prolonged with Tiffany,” Thierry Stern, Patek Phillipe’s president, mentioned on a movie get in touch with in mid-November. “It’s our oldest retailer in the U.S. I grew up with Tiffany and I’m not even conversing about business enterprise it was a aspect of my relatives.”

The small business arrangement concerning the firms dates from 1851, when Tiffany grew to become the Swiss company’s initial approved U.S. seller. Around the many years, the settlement has survived various ownership alterations, which include the Stern family’s buy of the watchmaker in 1932 and the $16.2 billion acquisition of Tiffany, finished in January, by LVMH Moët Hennessy Louis Vuitton.

Mr. Stern explained he preferred to sign to Tiffany that “you have been carrying out a great occupation,” primarily now that the significant step of its sale to LVMH has been taken.

But, “I’m not guaranteed it’s a reward for them,” he included. “It could be a huge problem. They could not understand how complicated it is heading to be to select the shoppers.”

That may perhaps be the understatement of the yr. The frenzy that is sure to erupt amongst longtime Patek Philippe collectors and significant Tiffany purchasers about individuals 170 timepieces is probably to be just about unprecedented.

Released in 2006, the Ref. 5711 — itself a refined edition of the unique 1976 Nautilus, a stainless steel luxury activity observe motivated by nautical motifs and built by the celebrated Gerald Genta — has prolonged been 1 of the industry’s most prized wristwatches. But around the start off of the coronavirus pandemic, costs for pre-owned items commenced to climb. Earlier this 12 months, when Patek Philippe introduced it was discontinuing the design, the secondary industry reacted by pricing it at almost 4 moments its $34,890 retail price.

In February, Mr. Stern reported that collectors, some of whom experienced added their names to waiting around lists that had been 8, even 10, a long time prolonged, could come across hope in his determination to give the product “a victory lap.” (Patek Philippe sells its timepieces as a result of a tightly managed network of retailers all-around the environment.)

“We will have a shock remaining series of the Ref. 5711,” Mr. Stern mentioned then. “And it is not what was still left in the pipeline.”

That victory lap was the Ref. 5711-1A-014, a very sought-following olive green dial model introduced in April, with the similar $34,890 price tag. A few months later, a person piece, nevertheless in its manufacturing facility-sealed packaging, sold for 416,000 euros, or $466,625, at an Antiquorum auction in Monaco.

“I’m confident that if a Tiffany-signed green dial surfaced, it would deliver $800,000,” stated John Reardon, the founder of Collectability, an educational platform and online reseller of vintage Patek Philippes. (Mr. Reardon was commenting typically on retailer-signed dials, not the Tiffany Blue look at in particular.)

Double-signed watches were fairly well known in the 20th century, when watchmakers, including Patek Philippe and Rolex, honored their interactions with shops these types of as Serpico y Laino in Caracas, Venezuela Beyer in Zurich and Freccero & Cia. in Montevideo, Uruguay, by stamping the names on the faces of their timepieces. But the types were not always in desire.

“Twenty decades ago, I experienced a number of collectors refer to retailer signatures on a Patek Philippe dial as very little but graffiti,” Mr. Reardon claimed.

Now, he continued, collectors prize first condition earlier mentioned all else. “When you uncover a gorgeous dial with a retailer signature, it typically suggests the dial is initial and unrestored,” Mr. Reardon reported. “These retailer-signed Patek Philippe iconic references are regarded benchmark trophies.”

For reasons that may possibly have to do with Tiffany’s enduring romantic relationship with Patek Philippe, Tiffany-signed parts have a unique “magic” and tend to go to faithful collectors fairly than opportunists chasing a rapid buck, Mr. Reardon claimed. (Without a doubt, the corporation is the only retailer in the entire world whose title proceeds to seem on a Patek Philippe dial.)

“Everything has a cost, but not for these collectors,” he reported. “That Tiffany signature is to them one thing sacred, a thing priceless and anything to be held in their families.”

The new design will be $52,635. A spokeswoman for Patek Philippe mentioned the greater rate was connected to the added function concerned in customizing and developing a compact collection.

Tiffany executives were not available to remark on the watch. (Mr. Stern mentioned he had mentioned the limited version with Alexandre Arnault, Tiffany’s executive vice president of item and communications. His father, Bernard Arnault, is LVMH’s main executive.) But it is one extra innovation considering the fact that the LVMH takeover — joining the collaboration with Supreme, the Beyoncé and Jay-Z advertisement marketing campaign and the house’s 1st-ever line of men’s engagement rings — increasing the excitement degree all over the heritage model.

Mr. Stern alluded to a further depth that may possibly make the model, and the retailer, even more buzzworthy: In addition to a commemorative inscription on the sapphire crystal caseback that reads “170th Anniversary 1851-2021 Tiffany & Co. — Patek Philippe,” the view consists of what moviemakers and software program providers connect with an Easter egg.

“I’m really curious to see how prolonged it’s going to get folks to uncover that there is a magic formula on each individual piece,” Mr. Stern stated.

He paused ahead of including a comment that appeared to acknowledge what lots of in the watch environment might check with when they examine about the restricted version: Is Patek Philippe for sale, and will the customer be Tiffany’s father or mother corporation?

“It’s fun it’s not business,” Mr. Stern mentioned about the Easter egg. “And only a loved ones company can do that.”