Is Patek Philippe Going Up for Sale?

Is the crown jewel of the watch industry changing hands? Following one of the watch industry's biggest trade shows, SIHH, last week, rumors began circulating that Patek Philippe might be going up for sale Entry-level Patek Philippe watches sell for $10,000 or more, while their high-complication pieces are so coveted by collectors they come with an application and a ladder-climbing process based on which Patek Philippes a collector already has in their collection At auction, Patek Philippe watches fetch top prices and are consistent record-setters-a Patek Philippe Ref.

If the Sterns do decide to sell, the Geneva-based company, located in the Vallée de Joux, could reportedly be worth up to $10 billion, according to Bloomberg The prospect of a Patek Philippe sale has loomed for a few years In 2014, Thierry Stern, the company's chairman, told the French magazine Le Temps that the company would need to leave Geneva or put itself up for sale if its tax burden was not made lighter.

If Patek Philippe is considering a sale, luxury watch conglomerates Swatch Group and Richemont would likely also be in the running for ownership. . Source