The frenzy for steel sports watches that peaked in 2022 has been challenging for brands whose core expertise lies in precious metal and complicated watches.
In a way, brands like Patek Philippe, Audemars Piguet, and even Vacheron Constantin found themselves in unfamiliar territory. It has not been uncommon in recent years for clients to visit Patek Philippe boutiques only to request Nautilus or Aquanaut models, which are precisely the pieces one simply cannot find in-store!
In 2019, Thierry Stern stated in an interview his intention to limit total steel watch production to between 25% and 30%, likely to protect the brand’s horological heritage and positioning. It is worth noting that the Genevan house removed the steel Nautilus ref. 5711 from its catalog less than two years later. This had only a limited effect on speculation surrounding this watch, whose price remained around €100,000 (versus an official catalog price of approximately €30,000 before its removal).
The discontinuation of the steel Nautilus 5711 coincided with the introduction of the Nautilus reference 5811, now in white gold. With a design very similar to the previous reference, it features a slightly larger diameter, going from 40mm to 41mm. The dial boasts a brighter blue, and the date window now has a white gold surround.
Illustration of the Nautilus 5811 in white gold | Illustration of the manufacture caliber 26-330 S C |
From a technical standpoint, the Nautilus 5811 offers water resistance to 30M and is equipped with the new caliber 26-330 S C, featuring a new stop-seconds function.
As of the time of writing, the catalog price for this white gold version is almost twice that of the 5711, justified in part by the white gold case and bracelet, priced at €71,700. Broadly speaking, while the secondary market price of the 5711 is around three times its (last) catalog price, the 5811’s value is roughly a multiple of two. Although overanalyzing recent strategies may be futile, the introduction of precious alloys in Patek's sports range (white gold, rose gold, platinum) and complications is noteworthy.
The Aquanaut collection has also seen significant developments in recent years, much like the Nautilus, with a focus on precious metals and complicated models. Patek Philippe set the stage in 2017 with the launch of the Aquanaut 5168G, available with a khaki or blue dial, and a 42.2mm white gold case, a considerable enlargement compared to earlier models such as the 5060A (35.6mm), the 5065 (38.8mm) launched in 1998, or even the more contemporary 5167 introduced in 2007 (40.8mm), available in steel or rose gold. For more details on the historical variations of the Aquanaut, an article dedicated to all Aquanaut evolutions is available.
2017 also saw the launch of the Aquanaut 5650G, a 40.8mm white gold Aquanaut part of Patek Philippe's Advanced Research program. In 2018, the 5968, the first version of the Aquanaut Chronograph, was launched in a 42.2mm case and is available in both steel and white gold. The latest iconic models in this Aquanaut range evolution include the Luce (allegedly for “ladies” with a 39.9mm diameter and 10.9mm thickness case!) and one of our favorite modern Aquanauts, the Aquanaut Travel Time in white gold under reference 5164G (note: simultaneous with the discontinuation of the 5164A, the same model in steel).
Unveiled in Munich on October 17, 2024, this new collection marks the end of over 25 years without a new design in the Genevan manufacture.
Although photos “leaked” a few days before the official date, the new Cubitus collection took all collectors by surprise; some even thought the “leaks” were a hoax! Criticized, surprising, too large with a 45mm case, overly inspired by competitors… we’ve seen all imaginable reactions reminiscent of the shock caused by the introduction of the Royal Oak in 1972…
The collection is currently limited to three models, two displaying hours and date, and a third with a large date and moon phase. For the first two:
- Reference 5821/1A steel green dial
- Reference 5821/1AR rose gold and steel blue dial
Introduced in 2019, the caliber 26-330 S C in this collection is shared with the Nautilus 5811, with a different decoration on the 24K gold oscillating weight.
For the complicated watches: Reference 5822P in platinum blue dial
We can’t help but think of the famous dial of the Nautilus 5712, except the power reserve has been replaced with a large date complication, reminiscent of models by Breguet or Vacheron Constantin.
Powered by the legendary caliber 240, born in 1977 in the Ellipse collection, this manufacture movement has always attracted collectors for its extreme thinness despite numerous complications. It bears the reference 240 P S CI J LU and has seen no less than six patent filings, notably for the large date display, which operates in eighteen milliseconds. This is the kind of horological feat that eludes critics of the model.
Illustration of the manufacture caliber 240 P S CI J LU (©Patek Philippe) |
One thing is certain upon handling a 5822P: It is undoubtedly a Patek Philippe with complications, and the finish is decidedly top-notch.
The model comes with a composite fabric strap (the same as on the 5980G), more modern and especially less costly than a platinum bracelet, which would significantly increase the weight of the watch, already quite heavy!
The epitome of chic, as the manufacture reserves for its platinum models, a diamond is set in the case at 6 o’clock. Notably, Patek breaks tradition with the Cubitus collection by introducing a baguette-cut diamond for the first time.
We cannot help but think of the latest version of the steel Nautilus 5711 ref. 5711/1A-014 from 2021 with a limited-edition olive green dial. We might therefore assume that this dial color is currently reserved for models made of steel.
So far, this is the most “accessible” reference with a catalog price of €40,900, targeting a younger clientele despite a significantly higher price than the Nautilus 5711, around €30,000.
Illustration of the steel Nautilus green dial ref. 5711/1A-014 (©Patek Philippe) | Illustration of the steel Cubitus green dial ref. 5821A (©Patek Philippe) |
Considered outdated since the late '90s, we see a strong comeback of watches featuring a gold and steel alloy in brand catalogs.
It’s hard not to see the heritage of the 3700/11 born in 1976, perfectly combining gold and steel in the 5821AR.
Illustration of the Nautilus reference 3700AJ | Illustration of the blue dial Cubitus gold and steel ref. 5821/1AR (©Patek Philippe) |
What can be said about this new Cubitus collection? It would be easy to go along with the crowd and question the added value the Cubitus brings to Patek Philippe’s well-established range and collection. We must remember that the launch of the Royal Oak in 1972 left watch enthusiasts particularly perplexed, and that of the Nautilus in 1976 was equally groundbreaking.
One thing is certain: with the launch of the Cubitus, Patek Philippe has created a buzz and ignited passions, not all of them laudatory. Common criticisms include an overly strong resemblance to the Nautilus, a lack of innovation regarding the dial and bracelet, and proportions that go against current trends, even if they are consistent with the evolution of the Aquanaut and Nautilus over the past two years.
As for us, we must emphasize the impeccable finishing quality (and we expected no less) and adopt a wait-and-see attitude towards the new addition. Thierry Stern strongly rebuked the critics, arguing that these are the very people who will never own a Patek Philippe. As members who know, own, and compare the brand's models, we will simply wait and see.
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