One of the most renowned luxury watch manufacturers, Patek Philippe, has announced that it is bringing back its famous watch – Nautilus Ref. 5711. This model is well-known among luxury watch collectors as Patek withdrew it from sale last year, resulting in a massive increase in demand and, of course, price. This time, Ref. 5711, or as it is affectionately called, the Holy Grail in the watch industry, will be sold in only 170 pieces and in a somewhat redesigned version.
The new Ref. 5711 is the result of a collaboration between Tiffany & Co and Patek, so the dial of the new model will be in the recognizable Tiffany green color. The first Nautilus Ref. 5711 produced in 2006 immediately achieved extraordinary success. Wealthy individuals and collectors regarded it as a trophy, flaunted it on social media, and patiently waited for years from the moment of order until their piece arrived in their hands, only for the famous Swiss manufacturer to decide to kill all joy and withdraw the watch from sale.
Ode to Collaboration
As explained to CNBC, Patek Philippe refused to become a company that produces only one model of watch (mono-product company), and since they had produced enough, they simply decided to stop production (their total annual production is around 60,000). Customers who were unable to get their hands on their piece when the watch was sold in official stores for around $30,000 turned to the resale market where the price of Ref. 5711 is five or six times higher. Last year, one piece was sold at Sotheby’s for an incredible half a million dollars.
