Every February, Patek Philippe traditionally announces a price increase across its collection. It is a routine that collectors and retailers have come to expect. But in February 2026, things are different. In a rare and strategic shift, Patek Philippe has officially announced an 8% decrease in U.S. retail prices, a move driven not by low demand but by adjustments to recent tariff changes.

A Quick Recap: What Happened With U.S. Tariffs on Swiss Watches

To fully understand this price decrease, we need to rewind to 2025. During President Trump’s second term, a new wave of tariffs was imposed on various imported goods, including Swiss luxury watches. Brands like Rolex, Patek Philippe, Omega, and Audemars Piguet were all caught in the crossfire.

In April 2025, a 31% tariff was imposed on certain Swiss goods, including watches. That rate was hiked even further in September, reaching a staggering 39%. For high-value luxury watches, this created significant pricing pressure in the U.S. market.

But in November 2025, representatives from the Swiss watch industry held a critical meeting with President Trump. As a result, the tariffs were revised downward to a more manageable 15%. This update brought major relief to Swiss watchmakers, who had been absorbing or passing along unprecedented costs for most of the year.

How the Tariffs Have Affected Patek Philippe Pricing

The impact of these tariffs was quickly reflected in U.S. retail pricing. Patek Philippe responded proactively to the 39% tariff by raising U.S. retail prices by 15%, on top of a prior price increase earlier that year due to currency fluctuations and material costs. Altogether, retail prices surged by nearly 21% in 2025, the most aggressive hike the brand has seen in decades.

For the U.S. secondary market, which closely follows domestic retail prices, these increases initially sparked concerns. Would collectors hold off on purchases in hopes of future price drops? Surprisingly, demand for Patek Philippe remained strong, even as prices climbed. Waitlists remained long, and the brand's core collector base showed little hesitation in acquiring new pieces, reflecting the strength of the Patek name and the loyalty of its global clientele.

Patek Phillipe Nautilus 5811 Price Affected By Tariff

Will Other Brands Follow? So Far, No.

Brands like Rolex and Omega have not decreased their U.S. retail prices in response to the tariff revisions. In fact, Rolex implemented an average price increase of 7% in January 2026, maintaining its long-standing tradition of annual hikes.

This divergence underscores how rare Patek’s move really is. Once luxury brands raise prices, they very rarely reverse them, especially when demand is strong. Patek’s decision appears not only bold but tactical. It’s an effort to sustain momentum in the U.S., align with global pricing, and possibly grow market share among serious collectors.

Considering the recent increase in gold values, this 8% drop seems carefully calculated. We don’t expect further pricing changes from Patek Philippe in 2026 unless there are significant shifts in trade policy, inflation, or raw material costs.

Final Thoughts: A Smart Time to Buy?

The adjusted U.S. retail pricing from Patek Philippe appears to be a rational response to current conditions. It reflects the 15 % tariff now in place, the rise in gold prices, and ongoing demand from serious collectors.

By cutting prices in a market where most brands continue to raise them, Patek Philippe shows that it values its long-term customers. It’s a move that benefits collectors and stands in contrast to brands like Rolex and others, which have continued to increase prices regardless of trade conditions.