Patek Philippe's 15% Price Hike (2025): What You Need to Know

What was speculation is now reality—the impact of Swiss tariffs has rippled to the U.S. consumer. On September 11, 2025, WatchPro announced that Patek Philippe would raise its U.S. prices by 15% effective September 15. 

Reputed media outlets such as Hodinkee and Quill & Pad confirmed, citing reliable sources, that this sharp increase was a direct response to the newly enacted 39% tariff on Swiss-made watches imported into the U.S.

This price hike speaks volumes about Patek Philippe’s brand strategy and its vision for the future. More importantly, what does it mean for collectors—and for those of us who dream of owning a piece of the Genevan maison’s storied legacy?

‍

‍

An Unprecedented Move

When Monday arrived, prices indeed jumped by the announced 15% in the US. Historically, Patek Philippe has favoured conservative price adjustments, primarily to keep pace with inflation. This makes the September hike unprecedented in the modern era.

Why the Sudden 39% Tariff on Swiss Watches?

Why Switzerland is facing a 39% tariff, while most of Europe remains at 15%, is tied to extraordinary global financial events, detailed in our "How US Tariffs Are Deciding the Future of the Watch Industry" blog.

In short, Trump is purportedly unhappy that Americans pay a premium for Swiss pharmaceuticals, so he’s targeted Swiss exports to America, excluding pharmaceuticals and investment commodities like gold.

In response to tariffs announced on Liberation Day in April 2025, Swiss watch brands accelerated shipments across the Atlantic. Discreet price increases followed over the ensuing months. Analysts had hoped revenue from other markets could absorb reduced U.S. margins, but with the U.S. now the largest luxury watch market in the world—as China recovers from its economic slump—brands had little choice but to raise prices directly.

‍

‍

Collector Reactions and Early Price Moves

U.S. consumers have been vocal on forums and social media. Many argue that Patek Philippe is pricing out aspirational collectors, while others defend the brand’s exclusivity.

A Timeline of 2025 Price Increases

This latest 15% hike is not an isolated event. Members of our SRK community noted this is the third price increase in 2025 alone:

• January 2025: An increase to offset the rising price of gold and the strong Swiss franc (CHF).
• April 2025: A smaller increase immediately following the initial tariff announcement.
• September 2025: The major 15% adjustment in direct response to the tariff's implementation.

If tariffs remain when watch brands’ inventories run dry, and gold prices continue to soar, another round of hikes seems inevitable. As in Wolfgang Petersen’s “The Perfect Storm,” the wave is already on the horizon—and many U.S. watch buyers are aboard the Andrea Gail.

‍

Demand Holds, Prestige Remains Untouched

Despite frustration, demand for high-scarcity Patek models remains strong. While dress watches have softened, the secondary market for pieces like the Nautilus, Aquanaut and certain Grande Complications, continues to rally.

Regardless, Patek Philippe has little reason to worry about collector complaints. Ultra-high-net-worth clients, the brand’s intended audience, will continue to transact. Secondary market activity is also likely to grow as buyers pivot away from primary channels, but persistent tariffs will eventually drive secondary prices higher.

This sequence of events reinforces Patek Philippe’s dominant position at the top of the luxury watch hierarchy. Patek is the first mover to implement a substantial hike, and other Swiss maisons will likely follow discreetly.

‍

‍

‍Looking Ahead

For now, pre-owned Patek Philippe watches remain within reach, but the window is narrowing. As tariffs ripple through the industry—thanks to what some have dubbed Trump’s “Make America Great Depression Again” plan—U.S. collectors will look abroad, secondary channels will tighten, and scarcity will only deepen. In that environment, truly desirable references are poised to climb—not just hold.

Yes, some collectors may be forced to liquidate in the short term, but history shows these moments reward the bold. Temporary dips are nothing more than rare entry points into a market that, over the long run, always corrects upwards when it comes to Patek.

The bigger picture is clear: demand for the maison’s icons is unshaken, and global wealth continues to concentrate among those who covet the very best. That’s why many see this period not as a crisis, but as a once-in-a-decade opportunity.

Keep an eye on SRK Haute Horlogerie—your grail piece may not just surface, but become the cornerstone of your portfolio’s next big win.

‍

‍

Frequently Asked Questions (FAQ)

Q1: How much did Patek Philippe raise their prices in 2025?
Patek Philippe raised its U.S. prices by 15% on September 15, 2025. This followed two smaller increases earlier in the year.

Q2: Why did Patek Philippe increase their prices by 15%?
The primary reason was to offset a new 39% U.S. tariff imposed on Swiss-made watches. Other contributing factors throughout the year included the rising price of gold and the strength of the Swiss franc.

Q3: Which Patek Philippe models are most affected?
While the price hike applies across the board, demand for highly sought-after sports models like the Nautilus and Aquanaut, as well as Grande Complications, remains strongest, causing their secondary market prices to climb even further.‍

‍Q4: Is now a good time to buy a Patek Philippe watch?
For U.S. buyers, pre-owned watches now represent a significant value proposition compared to new models. Many experts believe the current market volatility presents a strategic buying opportunity before the secondary market fully adjusts to the new pricing.