At Patek Philippe, the Nautilus Ref 5711, which originally retailed for $30,000, but now easily commands six figures. Patek’s president Thierry Stern said “I have still no idea why suddenly, the success [of this watch] came so fast and went so high, but what I know is that I do not want to be a mono-product company. So this is why I stopped the 5711. We made enough of it.”

For all of the beauty and craftsmanship that goes into a $500 Swiss watch, those are generally competing with something that’s both more utilitarian and multifunctional, the Apple Watch.

Patek Philippe - Nautilus 5711 Green Dial 57111A-014-1

Patek Philippe – Nautilus 5711 Green Dial 57111A-014-1