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PATEK PHILIPPE NAUTILUS 5711 DISCONTINUED! Production Stopped & Secondhand Prices To Skyrocket!

If you own a Patek Philippe Nautilus Ref. 5711/1A-010, mark your calendars! Today the Swiss watchmaker confirmed that after a 10-year-long production run, the model has been discontinued. That means that anyone who got their hands on one can bet that its value will instantly skyrocket in the secondary market. The approximately $30,000 stainless steel reference has already been so coveted by collectors that waitlists at authorized dealers were said to be as long as the production run of the watch itself, and pre-owned prices were already triple the retail price. (Only 30 percent of Patek Philippe’s watches are made in stainless steel each year.)

Despite the fact that Patek can’t make enough of the blue-dial steel Nautilus, the brand is wise to call time on it. In certain high-level echelons of watch collecting, it’s become so pervasive it’s in danger of being seen as simply a piece coveted more for its return on investment than its design. That, however, does not mean that the thirst for the Nautilus is waning. If anything, the discontinuation of this reference will only make collectors want it more. That’s marketing 101 folks.

The Patek Philippe Nautilus Ref 5711/1A is the world’s most desirable steel luxury sports watch. And now it’s discontinued. That’s right, Patek Philippe has ended the run of its iconic sports watch. At least for now. Rumour has it that there’s a Ref 6711 waiting in the wings. But we’ll have to wait a bit longer to find out if either is actually true. One thing is for sure. Prices on the secondary market have gone nuts. And I mean even more nuts than before.

In many ways, this was inevitable. The Ref 5711 was a victim of its own insatiable popularity. The wait time from authorized retailers used to be around 10 years on average. Before they stopped taking orders. A fact which caused countless headaches for the brand. They even raised retail prices on all steel Nautilus models by 20% in 2018 to try and discourage demand. To no avail. Then again, there were plenty of people willing to pay more than twice retail on the secondary market to get one. So a 20% uplift seems like a bargain.

For context, recommended retail in the US of a Patek Philippe Nautilus Ref 5711/1A with navy blue dial was USD 30,620. The average price on the secondary market up until recently was USD 85,000+. In the wake of the model’s retirement, that’s now jumped to USD 95,000+ and rising. This raises an obvious question: why is the steel Patek Philippe Nautilus so valuable?

steel luxury sports watch doesn’t begin with Patek Philippe. Instead, it is another member of the Holy Trinity, Audemars Piguet, that takes that honour.

By now everyone knows the story. And the key ingredients that created this unlikely recipe for success. A quartz crisis. A company – Audemars Piguet – in desperate need of a new watch to turn around its failing fortunes. And a gifted designer – Gérald Genta – who was about to turn the watch world on its head.

In a single night he conceived an era-defining watch, the Royal Oak Jumbo Ref 5042ST. Audemars Piguet unveiled its Hail Mary steel watch at the 1972 Baselworld fair. Putting everything on the line. And, in the process creating an entire new category; the steel luxury sports watch.

From an aesthetic point of view, this is about as simple as a three-hander with date gets. The ultimate exercise in restraint. It looks all but identical to the original Nautilus Ref 3700/1. There is little happening on the dial and yet it is so attractive.

On the reverse, a sapphire caseback reveals the manufacture Caliber 324 SC inside. This self-winding movement incorporates several of Patek Philippe’s innovations. These include the four-spoke Gyromax® balance wheel and its slotted poising weights. And the Spiromax® balance-spring in Silinvar®. The latter maintaining the oscillations at a frequency of 28,800 vibrations per hour.

Equipped with a central rotor in 21K gold, the movement offers a power reserve of 45 hours. The finishing is also above reproach. Côtes de Genève, circular graining, bevelled steel parts and bridges. This movement bears the Patek Philippe seal for good reason.

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