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Patek and Cartier Ladies’ Watches

James Lowe, Watch and Jewellery Specialist

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In general, and in contrast to gentlemen’s watches, the price of a ladies’ watch tends to reflect the value in the precious metal, the decorative elements such as diamonds plus the manufacturing costs rather than the complexity of the movement. Today’s price per ounce for gold bullion is $1500, in 2002 (when Gordon Brown was selling off some of the UK gold reserves) the price was around $350, so there’s a four-fold increase in material cost to consider. Another huge factor, especially in ladies’ luxury watches, is of course the big brand name premium.


Patek Philippe

Patek Philippe produce only around 62,000 watches per year and according to Patek company policy, only 10% are made in steel. This is because the company considers itself a luxury product maker rather than a sports’ product maker like Rolex. Of the 6,500 or so steel watches produced, the majority are from the ladies’ Twenty4 range. This results in the gents’ steel watches like the Nautilus models being in very short supply, hence the huge price premiums for this model on the secondary market. The Twenty4 range was introduced around 2000 and has proved very popular but always with a standard quartz movement. However, last year a circular cased automatic model was introduced. The two Patek examples here are the cheapest and most expensive in the range.


Ladies’ Twenty4 steel bracelet watch with diamonds reference 4910/10A.

2002 £3,950

2008 £5,920

2019 £9,550


Ladies’ Twenty4 18 carat gold bracelet watch with diamonds reference 4910/11R

2002 £9,450

2008 £20,850

2019 £32,560



Cartier introduced the Panthere range of watches in 1983 to compliment the Panthere jewellery range, and it proved to be a very successful model which was discontinued about 10 years ago but relaunched in 2017. It has remained virtually unchanged (apart from its retail price!!) – and although some of the larger models have automatic movements the smaller model which we illustrate here has retained its standard quartz movement.


Ladies’ Panthere 18 carat yellow gold bracelet watch, mini size, reference W25034B9

2002 £5,900

2008 £9,750

2019 £17,800



Ladies’ Tank Francaise steel bracelet watch, mini size, reference W51008Q3

2002 £1,550

2008 £1,920

2019 £2,890

All the major brands have an understandable policy of refreshing or slightly altering the models in their watch ranges on a regular basis, which does at least give them a chance to nudge the retail prices up regularly. This result in a wide gap between a current retail price and the secondhand/auction value of a five or so year old example. It is therefore very important for both the insured and the insurer to establish whether the insurance cover is on a ‘new for old’ or a ‘second hand replacement value’.