Time is running out for luxury watch collectors to get their hands on this coveted timepiece.
Luxury watchmaker Patek Philippe announced the final release of its popular Nautilus Ref. 5711 watch in a limited series with Tiffany & Co. on Monday.
The series will be limited to 170 timepieces running at almost $53,000 apiece in honor of the 170-year partnership between the Swiss watchmaker and the American jeweler.
The partnership started in 1851, when Antoine Norbert de Patek and Charles Tiffany met in New York. Tiffany signed an agreement with Patek Philippe in 1854 to become the first retailer in America to carry the exclusive timepieces. And the agreement has survived numerous ownership changes over the years, including Tiffany being acquired by the French luxury giant LVMH for $15.8 billion in January 2021.
The Nautilus Ref. 5711, first introduced in 2006, sprung to fame through social media influencers and celebrity watch enthusiasts flaunting the exclusive wrist trophy. But in January 2021, Patek Philippe announced that it was ending production of the Ref. 5711, saying the demand was overwhelming. So this limited-edition collection could be the last chance for Nautilus lovers to get their hands on one.
The Nautilus was always intended to be a status symbol. When the first model was released in 1976, it cost $3,100 — an enormous price for a steel watch at the time.
Here are the previous limited editions that Patek Philippe made for Tiffany:
2001 — Refs. 5150R, 5150J & 5150G – 450 watches
2009 — Refs. 4987G-001 & 4987G-010 – 100 watches
2012 — Refs. 4987G-001 & 4987G-010 – 50 watches
2012 — Ref. 5396G-012 – 100 watches
Today, the Nautilus usually sells for $34,890. But the new model — which will feature stainless steel and a Tiffany Blue dial — will be sold for $52,635 at Tiffany stores in New York, San Francisco and Beverly Hills.
In recent years, Tiffany has tried to attract younger consumers by collaborating with brands a lot younger than Patek Philippe, such as the streetwear maker Supreme.