Comments:
Patek Philippe's annual production numbers
Hello, I am new on this forum but not really on this wonderful website.
May I kindly enquire about the total annual production numbers of watches produced by Patek and the amount of emplyee on their pay roll?
I understand there aren't any official figures being published by Patek Philippe. But are we talking of 500 watches, 1000, 10.000, 20.000... 50.000 or more? Likewise for the number of emplyees, 500, 1000' etc.
I hope this not a taboo subject.
Z'
Patek production
I visited Patek in 1964 when the production, I think, was 10k pieces annually; so given the growth in their business since then 40k does not sound unrealistic
Interview with Thierry Stern
Hello Z,
in an interview the german newspaper "Manager-Magazin" conducted with Thierry Stern, he said that
PP produces about 40.000 watches per year (10.000 quartz, 30.000 mechanical). The newspaper
states the number of employees is 1.300.
Best regards
Georg
Honestly, I do believe they left the 40K range...
I believe they are now between 50 and 55K.
Of course, Patek explains that the production remains limited around 45K... but frankly speaking, taking into account the availability of some pieces, I think they are above 50K.
Fx
Of course, Patek explains that the production remains limited around 45K... but frankly speaking, taking into account the availability of some pieces, I think they are above 50K.
Fx
I have heard the 4x,000 range but I believe the numbers are for mechanical piece. [nt]
No message body
in one of the interviews with T Stern he ..
... mentioned around 50,000 pieces per year with 10,000 quartz
Patek does not publish production figures so
everyone relies on what is said in interviews with Patek and maybe some "insider" information. I've read where T.Stern is quoted with 40,000 pieces and at another interview at the 50,000 level.
Recently, I read the number of employees is around the 1600 mark.
Recently, I read the number of employees is around the 1600 mark.
I've heard 40,000 mentioned a lot by different employees..
..of patek Philippe but maybe they are told to say that.
Follows the big question whether
the largely increased production numbers and therefore availability at the AD's make the current PP collection less desirable, less collectible?
I would say that the watches are not
less desirable but very many models are less of interest to collectors. The most complicated watches will always be, however, rare.
Best, Kari
Well, here is the "official production number" from "The Man" himself
Dear All,
Thierry Stern recently stated Patek’s production number to be between 50-53K in an interview to “Le Temps” (Geneva based newspaper). Extract below is from the article (in French).
Best,
Stan
L’interview de Thierry Stern Samedi9 mars 2013
«Croître n’est pas l’objectif de Patek Philippe»
Par Propos recueillis par Bastien Buss
Le Temps: Un petit mot sur l’année 2012? Comment s’est-elle déroulée pour votre entreprise?
Thierry Stern : Nous avons tout lieu d’être satisfaits. La demande pour nos produits s’avère toujours aussi vigoureuse. Nous avons vendu toute notre production, volontairement limitée entre 50 000 et 53 000 pièces.
I was in Geneva this summer
53000 total
13,000 quarts, 40,000 mechanical
Of the the mechanical only 2100 or so are grand complication.
Guess How Many World Timers?
Anyone want to venture a guess as to how many World Timers are made in a year?
If we really think about it
It is quite a lot of watches every year. I mean we are talking about watches with an average price
of CHF 20-30'ooo- at least. There are a lot of wealthy people buying a lot of watches it seems.
If you compare it to say, FP Journe, or Lange- PP is involved in 'mass production'.
But then you compare it to Rolex, not to mention Omega and Tissot and other brands.
And Patek becomes once again an exclusive item.
I hope they don't increase their production much more.
Best Edmond
The large production numbers have their impact.
A short while ago a "Grey Dealer" gave me a list of 17 different references he can sell with over 20% rebate. Among those were several 2013 models plus some well-appreciated references.
I have also been following the secondary market for years. The number of relatively new references is growing all the time and some wanted watches are hanging on the pages a very long time even the prices are reasonable.
In my opinion the annual production numbers start to be on such a level that we can not really speak about Rarity when the newer references are concerned anymore.
A little bit sad.
Best, Kari
Interesting
Very interesting points you made. I didn't think of the consequences that such production nrs can have.
It is no wonder the grey market becomes very active. I think the family is well aware of this 'potential problem'
and will not let it get out of control. They, as a private company, and family, can of course influence
this 'control' better than Richemont group which is a listed company and have to deliver their profit numbers
more consistently.
I wish I could read into future on this topic 
Best Edmond
I sincerely hope so.
However, the rebates are from the pockets of the AD. They also sell the watches to the grey market. Patek Philippe is a very wanted brand and for quite a long time the manufacturer can probably push their production to the AD network and if needed, also find new retailers.
I wrote earlier today about my 5131G. Just in one market place there are 17 of these watches as per today and I know several shops whose inventory is not listed in this market place. Many Patek references that were so wanted that people paid a premium to get it, are now sold with remarkable rebates. A good example is 5960P. Today it seems to be available everywhere.
But Patek is not alone with this issue. I think that as a result of the watch hype there is an over-supply of high quality mechanical watches.
Best, Kari
the customer is the AD
Patek's customer is the AD. As long as Patek can get their price from the AD, they will put as many watches out there as possible. In the mix will always be some references of hard to get, small prod. number pieces, which are worth their weight in free P.R. To me, if a buyer doesn't have to get the latest fashion statement, they are better off taking advantage of a relatively weaker secondary market for pre-owned, buy one and get it serviced with Patek. It will come back virtually brand new.