Patek Philippe has announced another price adjustment in the United States, with retail prices increasing by up to 15%. This adjustment follows the 39% tariff policy imposed on Swiss watchmakers on August 7, 2025, marking the brand's third price increase in the U.S. this year.

For collectors, this represents a significant shift. Patek Philippe typically adjusts prices only once annually, yet three increases have already occurred in 2025, underscoring how currency fluctuations and trade policies are directly impacting the luxury watch market.

A Timeline of Price Increases in 2025

• First time, prices increased due to rising gold prices and the appreciation of the Swiss franc.
  
  

• Then later, second increase followed after the U.S. introduced a 10% tariff on imported Swiss watches.
  
  

• This time, the latest adjustment came in the form of a 15% increase, directly linked to the new 39% tariff on Swiss watchmakers.
  
  

Unlike the U.S., other countries did not adjust prices, so the latest price adjustment impact only on U.S. consumers.

Implications for Collectors and the Market

Patek Philippe's official retail prices remained unchanged in many international markets, but saw a 15% increase in the US market. This has created a significant price disparity between US retail prices and those in other regions. This situation is likely to stimulate the gray market, with consumers turning to international retailers and resellers seeking lower prices overseas. Long-term, this could fuel price increases in the U.S. pre-owned market, particularly for popular models like the Nautilus and Aquanaut.

How Other Swiss Brands Are Responding

Patek Philippe isn't alone in responding to tariff pressures: Omega plans to increase its U.S. retail prices by 10% starting October 1, 2025, according to an authorized Omega retailer. This signals a potential broader adjustment across the Swiss luxury watch industry as other manufacturers consider how to respond to the rising costs of doing business in the U.S. market.

Patek Philippe has raised its prices in the United States three times in less than nine months, an unprecedented move for the brand. While the international market remains flat, American collectors and buyers are already feeling the impact through rising retail and pre-owned prices. While the price increases highlight the enduring demand for Patek Philippe among serious collectors, they also raise important questions: how much longer can American buyers tolerate price increases, and how will other Swiss brands respond in the future?