If you’ve been wondering why your favorite Patek Philippe references suddenly cost more, you’re not alone.
As of mid‑September Patek’s U.S. prices are roughly 15 % higher, a change driven largely by a new trade policy that adds a 39 % tariff on Swiss watches. The increase follows a smaller 5–10 % hike earlier in the year when a preliminary 10 % tariff took effect. With a further 29 % tariff imposed in August, total duties on Swiss watches imported into the U.S. now hover around 41 %.
Here’s what’s happening and what it means for collectors.
Why did Patek raise prices?
The headline news is that Patek is sharing the burden of the new tariffs among the brand, its U.S. subsidiary, retailers and clients. The most recent 15 % rise is the second increase in six months. Tariffs are the main culprit, but they are not the only factor. Rising gold and platinum prices (many Patek’s use precious metals), a strong Swiss franc and robust global demand all add pressure on margins. When the Swiss franc strengthens against the dollar and raw materials go up, manufacturers either cut profits or adjust prices. Patek chose to adjust.
Other Swiss brands are making similar moves. Swatch Group has limited its U.S. increases to 6–10 % and agreed to accept lower margins to cushion consumers. Omega’s steel Speedmaster Moonwatch climbs from $8,400 to $9,000 (a 7.1 % bump) and the Moonshine‑gold version rises 6.8 %. Richemont‑owned Cartier is expected to follow with an increase later in September. Rolex and Audemars Piguet have not yet announced official increases, but industry observers think they will need to pass on at least part of the tariff cost.
How big is the impact?
For context, consider Patek’s Cubitus in yellow gold (a watch that retailed for $80,346 until mid‑September). It now lists at $92,496 in the U.S., and after the average 7.7 % sales tax a buyer pays around $99,618. The same reference is still £65,600 (about $88,000) in London. On the surface that makes London look like a bargain. However, luxury travel doesn’t beat the math: flights and hotel add another $4,000–$8,000, and upon returning home U.S. Customs applies the 41 % tariff, pushing the landed cost to roughly $129,600. The once‑appealing idea of flying overseas for a watch now turns into a costly illusion shaped by trade policy. Trilogy Jewellers offers free, fully insured shipping to clients in the United States, so get in touch to discuss a potentially lower cost Patek Philippe by buying through us.
What does this mean for collectors?
- Buy before further hikes: Trade negotiations are ongoing but there is no guarantee tariffs will be rolled back soon. If you have your eye on a current production Patek, purchasing sooner rather than later locks in current pricing.
- Expect secondary‑market uplift: Patek’s limited production (under 70,000 pieces a year) and strong demand mean pre‑owned prices often track or even outpace retail. Previous tariff‑induced increases didn’t dampen demand; instead they spurred collectors to move quickly.
- Watch other brands: Omega and Cartier’s modest increases and the likelihood of Rolex/Audemars Piguet joining in suggest a broader uptrend in Swiss watch pricing.
Trilogy’s perspective
At Trilogy, we view price adjustments as part of a wider cycle. Patek Philippe remains one of the most revered names in horology, and its pieces continue to hold and often grow in value thanks to exceptional finishing and scarcity. While tariffs and currency swings are out of our control, we’re committed to helping our clients make smart decisions:
- Leveraging our network: Our sourcing network extends across Europe and the Middle East, enabling us to find hard‑to‑get Patek references and competitive pre‑owned options even when U.S. retail prices rise.
- Advising on timing: We monitor policy changes and market data so we can advise whether it’s better to buy now or wait.
- Providing liquidity: If you’re considering selling or trading a Patek, the recent price hike could work in your favour. Demand remains robust and secondary‑market prices often adjust upward after retail increases.
Don't let that stop you
Ultimately, tariffs and price hikes create headlines, but they don’t diminish the joy of owning a well‑made watch. Whether you’re eyeing a Nautilus or contemplating a Calatrava, our team is here to guide you through the changing market.
Call our team on 0203 929 8227 to find out what we have in store or find out more about our watch sourcing service.
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