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hierry Stern cautioned us the end was coming.
"I have to be very tough on the quantity of steel watches. I don't want steel taking over the lead in the whole collection. " He explained that he had seen other brands produce too many steel timepieces - and once they go down that road, there's no heading back.
"I am limiting the actual steel versions, mostly the particular Nautilus, inch he added. Stern was insistent that, of the over 60, 000 wrist watches Patek produced annually, no more than 25 to 30 percent be made in metal.
Less than two years after that interview, the Nautilus reference 5711 was officially discontinued in 2021 without announcement or fanfare from Patek - "We avoid retire our watches by public story; the Nautilus does not deserve a better treatment, " Stern reasoned. It might not have well deserved special therapy, but it got something else instead: a victory lap. Patek introduced an olive green dial for the final year of the 5711's run, and then a final limited-edition Tiffany & Co. blue dial which drove us mad -- the "fuck you 5711s, " as one collector I talked in order to called them. If that will wasn't enough, Phillips auctioned one of those Clothes Nautiluses for $6. 5 million in December 2021.
And with that sale, we reached Peak Nautilus. Since then, secondary market prices have dropped. Toward the finish of 2021, a standard blue-dial steel Nautilus might've exchanged hands exceeding $160, 000. Today they're more like $130, 000, but - pulls out calculator - that's still about 4x their original retail price. So still crazy, but slightly less so.
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Before we go further, it's worth recapping what the Nautilus is: how a simple-looking watch could sell with regard to $6. five million, and why it was such a big deal that Patek discontinued typically the reference 5711 - as well as replaced it, just yesterday, with the 5811/1G in white gold.
Patek Philippe introduced the original Nautilus 3700 "Jumbo" within 1976, designed by legendary watch designer Gérald Genta. It was a luxury iron sports view, a bold idea for an industry inside crisis after the introduction of quartz designer watches a few years prior. It wasn't even the first steel sports watch through Genta : that was Audemars Piguet's Regal Oak rapid but , well, Patek is actually Patek, and the cost must have been a point associated with pride (for proof, look at the ads).
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