This Patek Philippe Nautilus is Selling for 1300% Above Its Original Price
Continuing to trade for a premium of over 1300% on the secondary market.
Sometimes, the prices of luxury watches reach the skies right off the factory. However, some climb up to glory later in their life span. The ultra-rare green-dial Patek Philippe Nautilus is a prime example, which is currently selling for US$497,000 in the market.
Patek Philippe Nautilus Ref. 5711/1A-014
The original retail price of the Patek Philippe Nautilus was US$35,893. So, it is currently selling for around 1300 per cent above the original retail price. The Patek Philippe Nautilus is known for carrying the tradition of the watchmaker. It is a precision watch with a handsome and stylish design.
Referred to as Ref. 5711 officially, this watch was discontinued by the watchmaker last year. However, they did release a Tiffany Blue version. Since this watch was discontinued, it has been classified as quite rare, especially the Ref. 5711/1A-014.
The olive-green sunburst variant was among the first for this watch. So, it makes sense why the prices for this have increased by 1300 per cent on the secondary market. So, this would roughly cost AU$713,592.
According to reports, this price was already up by 1000 per cent last summer. However, such watches tend to become even rarer as time goes by, and the existing pieces of sale go into the hands of devoted collectors. This means that even fewer pieces are then available in the market, which naturally raises its price even further.
From the surface, at least, the Patek Philippe Nautilus olive-green version is worth a lot. It comes with a striking dial and features the signature case design by Patek Philippe. Furthermore, the construction is of stainless steel, which is quite common for watches by this manufacturer.
Not only that, but the Patek Philippe Nautilus also features the precise movement underneath that the watchmaker is very famous for. Yet, one cannot say how far the prices of this rare piece can go. However, it is easy to imagine that they will be going higher and higher as time goes on.
About 5 years from now, this watch will be even rarer than it is today. So, one can easily imagine selling it for upwards of a million dollars. However, that is pure speculation based on the current trend.
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