Patek Philippe is widely considered to be one of the most prestigious watch manufacturers in the world.[12][13][14][15] As of July 2023, among the world's top ten most expensive watches ever sold at auctions, nine were Patek Philippe watches. In particular, Patek Philippe Grandmaster Chime Ref. 6300A-010 currently holds the title of the most expensive watch (and wristwatch) ever sold at auction (US$31 million/27 million CHF), while Patek Philippe Henry Graves Supercomplication, the world's most complicated mechanical watch until 1989,[16] currently holds the title of the most expensive pocket watch ever sold at auction (US$24 million/21 million CHF
The company traces its origins to the mid-19th century, when Polish watchmaker Antoni Patek and his Czech-born Polish business partner Franciszek Czapek formed Patek, Czapek & Cie in Geneva on 1 May 1839 and started manufacturing pocket watches.[19] The two eventually separated due to disagreements, and the company was liquidated on 18 April 1845.[20][21] At that point, Czapek founded Czapek & Cie on 1 May 1845 with a new partner, Juliusz Gruzewski.[22] Subsequently, Patek was joined by French watchmaker Adrien Philippe, the inventor of the keyless winding mechanism (although this had been discovered previously by Abraham Louis Breguet but not patented by him), and continued the watchmaking business with a new company, Patek & Cie, beginning on 15 May 1845.[21]
On 1 January 1851, the company's name was officially changed to Patek, Philippe & Cie.[19] In the same year, Queen Victoria of the United Kingdom acquired a keyless pendant watch at the Great Exhibition in London.[19] The watch was embellished with rose-cut diamonds set in the pattern of a bouquet of flowers.[20] The Queen had another exclusive Patek Philippe timepiece, to be worn pinned to clothing. This watch was suspended from a diamond and enamel brooch.[23][24] In 1868, Patek Philippe created the first Swiss wristwatch for Countess Koscowicz of Hungary.[19]