Business News: Patek Philippe Is Changing The Way It Issues Extracts From The Archives

Business News: Patek Philippe Is Changing The Way It Issues Extracts From The Archives

Patek Philippe recently sent out a memorandum stating that it has made a few key changes to the way the company handles the process of obtaining Extracts from the Archives. The company issues extracts to owners of watches based on the individual serial numbers pictures of the watch. It doesn’t necessarily guarantee authenticity, but it does allow folks to access the records that Patek Philippe has been keeping since 1839. The service allows customers to request information like, “the type of watch, movement number, caliber, case number, style, type of dial, date of manufacture, date of sale, bracelet type, and additional information if any.”

For now, the service costs CHF 150 and takes twelve weeks. An extract “can be ordered for any Patek Philippe timepiece older than five years,” according to Patek Philippe’s website.

But that’s changing.

In the memo, Patek Philippe announced that starting April 21, only watches sold from 1989 and before are eligible for the service. The price of the service also increased to CHF 500. The good news? The wait time decreased to ten weeks, and in the event the service cannot be performed, Patek will refund the CHF 500. The Swiss company will only issue Extracts from the Archives in English as well.

If multiple sources request an extract for the same watch, only the first request will be honored – and only one extract will be produced every five years per watch.

The move seems like an effort to protect the brand, just like the discontinuation of the 5711. Thierry Stern is stubborn about steel, – and it turns out, Extracts from the Archives, too.

Read the full memo below:

HODINKEE

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