Patek Philippe has confirmed that it raised prices on its watches worldwide—but disagreed with a Bloomberg report that pegged the average increase at 7%.
“We do not confirm the percentage mentioned by Bloomberg,” says a Patek spokesperson. “The percentage of increase varies per market. As we are an independent, family-owned company, we do not communicate any further specifics.”
The price hikes began Feb. 1.
The news service said it had calculated the percentage based on prices on Patek Philippe’s website.
Given the general slowdown in the watch market, other brands seem to be playing it safe. For instance, in January, Rolex raised prices in the United States but not in the United Kingdom.
(Photo courtesy of Patek Philippe)
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