Patek Philippe Cubitus Collection

Today, in Munich, the home of the 2013 Patek Philippe Grand Exhibition, the world’s most important high-end watchmaker unveiled its first new collection in 25 years. This story will be a long one – because there’s a lot to say here. So bear with me and read this whole story before jumping to the comments section to say how much you dont like it or why should anyone care because you can’t get one anyway, please. 

Here is what you need to know. The Cubitus Collection consists of three models: two with time/date and one with a complex new big date movement. Let’s get into the facts first before we begin to analyze and dissect.

Reference 5821/1A – Stainless Steel, Green Dial, Time & Date

Let’s start with what will easily be the most in-demand model – reference 5821A. The A here stands for “acier,” or steel, in English. You have a bracelet that is every bit the Nautilus, complete with the updated micro-adjustable clasp that was introduced on the 5811G – and a new square case that features the same finishing format as the Nautilus. Specifically, “vertical satin-brushed on the flat surface of the bezel, the top of the case and the side links of the bracelet; polished on the bezel chamfer, the sides of the case middle and the central bracelet links.” This allows for a subtle, muted view from the top but for light and reflection to play with the watch from the side. 

The case is 45mm in diameter (but remember it’s square, not round – so traditional sizing notions go out the window) and just 8.3mm thick! That is roughly the same thickness as the 5811G (8.2mm) and thinner than the only remaining men’s steel Nautilus in the collection, the 5712A at 8.52mm. 

The dial is olive green and horizontally ribbed (embossed) with a sunburst finish. Each hour marker is white gold and baton-shaped, just like the hands, with white luminescent coating. There is date window at three o’clock that is also surrounded by white gold. The is a direct nod to the “final” reference 5711/1A-014, a highly limited last run of the famed steel Nautilus with green dial, which was shown in April of 2021. 

Inside the Cubitus 5821A is caliber 26-330 S C, which is a new caliber based on the 26-330; it was first introduced in 2019 in the Nautilus collection and is now seen only in the 5811G. But this new derivation of the existing time-only caliber from Patek has a bit of a party trick – it has a stop-seconds feature. This means when you pull the crown, the seconds hand stops! This allows one to set the time to the second. In vintage lexicon, this is “hacking seconds,” which is a bit of a nod to chronometry nerds – and I think it is a bit of an Easter egg to people like me, who, well, care about this kind of stuff.

The caliber consists of 212 components, one of which is a 22k gold rotor with Cubitus-specific horizontal ribbing. It is a 4 Hz movement, meaning it beats at 28,800 semi-oscillations per hour. It has a power reserve of up to 45 hours.

It is important to note that the bracelet is integrated, not interchangeable, as was rumored. Water resistance is 30m. The price of the 5821A will be $41,243 and it will be available at retailers tomorrow – Friday, October 18th.

Reference 5821/1AR – Stainless Steel & Rose Gold, Blue Dial, Time & Date

The second model in the Cubitus collection is reference 5821/1AR, or the same watch as above, here in a two-tone steel and rose-gold case and bracelet. In this case, the bezel, crown, and central bracelet links are solid gold, and the dial a deep blue.

The price here is $61,276, and like the steel model, will be available at authorized retailers as early as tomorrow.

Reference 5822P – Platinum, Blue Dial, Instantaneous Grand Date, Day, And Moon Phase 

Okay. This is the one people are going to talk about. In fact people are already talking about it, without really knowing what it is. This is a brand new complication for Patek Philippe that includes a grand date at 12 o’clock, plus date, day, and moon phase. It is based on the legendary caliber 240 (used in the 3940, among many others), and most closely resembles what we see in the 5712 Nautilus, with its off-centered moon phase/day display at seven o’clock, and running seconds at five o’clock. Up top, we don’t have a power reserve like we have on the 5712, but this is where it gets far more interesting. 

We have a new type of display for Patek – an instantaneous grand date. This new caliber – 240 PS CI J LU – has no less than six patents to its name, revolving primarily around energy management for the grand date, which is something of an underappreciated technical feat in the world of watchmaking, for all brands – Swiss or otherwise. 

What these patents allow for is a jumping seconds that happens in a flash – 18 milliseconds to be specific – or, by most definitions, instantaneously. Considerable work was spent to ensure that the two numerals, which are indeed two different discs but on the same plane, align perfectly within the dial’s white-gold apertures. The six patents, for those interested, are a tangential brake, a dual-functioning spring, a dual-functioning spring mechanism, a flexible plate, a flexible connector, and a new kind of positioning system. A lot of the new movement was first considered in the far more complex perpetual calendar mechanism found in the in-line perpetual calendar reference 5236. This is a simple calendar, but still very complex – 353 components – and it requires five adjustments per year. 

The dial on the 5822P is blue, and the P is indeed for platinum. The case diameter remains 45mm, and the thickness is now 9.6mm – approximately 1mm thicker than the 5712 – but still on the thin side. That additional room is undoubtedly needed for the jumping date mechanism. The new movement’s functions can be adjusted at any time of the day (a rarity), and there is a satisfying “click” at midnight that advances the date, day, and moon phase all at once.

This most complicated Cubitus is not offered on a bracelet, but instead a blue composite strap with a fabric pattern and contrasting cream stitching – most likely A) because a 45mm platinum-cased watch on a platinum bracelet would be frankly far too heavy for daily wear; and B) to keep the price a bit more in line with the market might deem reasonable. And in what may be the deepest of deep cuts to Patek nerds like me, for the first time, this platinum case has a baguette-cut diamond on the bezel, which, thanks to Malaika, I now have an insane appreciation for. Previously, all platinum Pateks did indeed have a diamond inlaid into the case or bezel, but it was not baguette cut. We see you, Thierry. 

This watch is based on a wholly different caliber than the time/date references, and as such, you have a 22k micro-rotor on the back – again with horizontal finishing in homage to the dial motif of the Cubitus collection. The price of the 5822P will be $88,378, and like the others, will be available at retail Friday, October 18. Oh, and it weighs 95 grams.

Okay, now you have the facts, let’s take a few steps back and discuss how we got here. All three watches feature a two-part case that is enclosed with just two hinges and four screws. 

Before we go deeper into Cubitus itself, let’s consider, for a moment, just what it’s like to be a Patek Philippe retailer today. It is easy in some ways – the watches, in most cases, sell themselves, but in another way, you are asked multiple times a day for things that simply do not exist. And that leads to a sense of mass frustration among your clients and would-be clients. In my chat with Simon Brette at last week’s House of Craft event, he told the audience that he receives approximately 30 requests for an allocation of the Chronomètre Artisans per day via his website, email, and Instagram. He makes but 12 examples per year. When asked how he chooses who the right 12 owners are, he told us that multiple in-person meetings (ideally) and several conversations are required to ensure his 12 CAs per annum go to the proper homes. He does it all himself, personally.

Now imagine that exact same dilemma for every Patek Philippe retailer in every city all around the world. The demand for Patek Philippe’s sports watches (broadly speaking, any Nautilus or Aquanaut men’s pieces in both steel and gold) is simply extraordinary. Indeed, secondary market prices for these watches are off their peaks, but that doesn’t impact demand at retail one iota. The reference 5167A – or time/date Aquanaut in steel retails for about 24,000 Euro. On the secondary market, the average asking price is double that. And what’s more important to many than the doubling of one’s investment, in this case, is the street cred that comes with the ownership of such a watch. It says you not only know watches (because this is a Patek Philippe, after all) and that you are well-to-do (because this is a Patek Philippe, after all), but also that you are well connected enough to get one when everyone else wants one. The Aquanaut and Nautilus are the most requested watches at Patek Philippe retailers by a wide margin, to the point where it has become a genuine operational issue.

In speaking to authorized dealers, a large coastal retailer told me they receive, on average, 50-100 inquiries for a “sports watch” per week, often from people off the street or those with no history with the dealer. Some requests are friendly and playful, others are not. One particular dealer told me that security has to be called no less than two times per week when people get unruly or simply will not leave the establishment without a commitment of an allocation. When I asked a handful of large retailers how many men’s Aquanauts, for example, they received from Patek each year to be sold to clients – the answers ranged from “maybe 5-10” to, at most, 20. Again, that’s per year. So you can see the issue here – dramatically outsized demand for generally unavailable watches at retail.

And Patek boss Thierry Stern has been aware and upfront about this issue for years. In an interview with John Mayer that we ran in Hodinkee Magazine Volume 1 – dating back to summer 2017 – Thierry had this to say about the then new-found demand for Nautilus in steel (at the time, Aquanaut was not yet in frenzied demand, nor was the Nautilus in gold): “It’s important that the steel version be quite rare. I could sell steel watches for a very high price, but then it’s not fair – I know the value of each of those watches, and I have to respect that because it’s about the credibility of the brand.”

Two years later, in 2019, but still pre-COVID boom – our Joe Thompson wrote this story about Stern’s stubbornness with steel. In that story, Thompson reported that Stern was adamant about the Nautilus, steel or otherwise, not becoming the face of the brand. He goes on to cite that Stern’s policy “is to limit its entire steel-watch production to 25% to 30% of its total production. “We say this is the maximum number of steel watches that Patek Philippe should produce every year, and we are going to stick to that,” said Stern.

Now if someone said upwards of one out of three watches made by Patek Philippe is in steel, that wouldn’t feel right, would it? To a collector, no, it feels like, at least to me, maybe 1 out of 10 watches is steel. But that is because Patek’s Twenty-4 collection is primarily steel, and not often cited amongst collectors.

He followed this story with actions.

Less than two years later, the 5711A was discontinued. Actually, it was discontinued completely, and the time-only Nautilus in steel has yet to return, over three years later. When the time/date Nautilus did come back into the collection, it did so as the 5811G, in white gold. And that? Well, in my completely anecdotal, non-scientific estimation, it is far, far rarer and harder to come by at retail than a 5711A ever was (green/Tiffany blue notwithstanding). The time-only Nautilus basically doesn’t exist. The few references of Nautilus that remain in steel – 5712, 5726, 5990 – are seldom seen relics of a collecting world that doesn’t exist anymore, in many ways. The aforementioned 5167A (time/date Aquanaut in steel) is still in the catalog, but not without some diversions into similar watches in precious metals, including the 5168Gs, slightly larger Aquanauts in white gold. And, when the Travel Time Aquanaut (reference 5164A) was discontinued in steel, it was replaced by a white gold model, which leads us to wonder, just how long does the steel Aquanaut have left in the catalog at all? With the introduction of the 5822 Cubitus today, I would venture to guess it doesn’t have long.

As you can see, the efforts from Patek Philippe to move away from not only stainless steel but also the Nautilus and Aquanaut collections entirely have been deliberate, intentional, and longstanding. But they recognize the need for an entry-level watch. Going back to that 2017 interview between Mayer and Stern, here is an excerpt:

Mayer: Are you thinking about the person who is 32, loves Patek Philippe, doesn’t own one yet, and wants to at some point in their life? Does the idea of “entry-level” matter to you?

The idea of a casual, more informal watch – one that might be construed as “entry-level” – is nothing new to Patek Philippe. But it is not something it speaks to often in the way they are today with the launch of Cubitus. Officially, this is the first new line since the women’s Twenty-4 launch in 1999, but more relevantly, the Aquanaut that came out two years earlier is worth exploring because it is a direct progenitor, and, indeed, like the Cubitus, a direct descendent of the Nautilus.

First, it’s important to note that the original Aquanaut (the 5060A and 5060J), were never called an Aquanaut. Instead, it was part of the Nautilus collection. In fact, when the 5065A came out the next year in 1997, it too was part of the Nautilus collection (you can read James’s coverage of early 5060A here), as seen by the period advertisement above. When it launched, it retailed for around $8,000 and came with a rubber strap. According to John Reardon, it was a hit from the beginning.

“When the Aquanaut Ref. 5060A made its public debut in 1996; it was met with great fanfare,” says Reardon. “It was priced well under $8,000 USD, and the watch world loved it from day one. It is important to note that the Aquanaut was intended to be sold to a younger, sportier crowd, but it turns out that everyone wanted it… and seasoned collectors with the right retailer connections were able to gain access first. The Genta-inspired design concept was familiar to everyone already, and the watch was an immediate success. The Italian watch collecting community was the first to embrace it as a huge success, and that literally put the Aquanaut on the map.”

Michael Friedman, formerly head of complications at AP, remembers something differently:

“Patek had achieved so much in regards to complications in the ’80s and ’90s (3974, 3939, 5016, etc.), so the leaning into a more commercially viable ‘entry-level’ steel watch was not expected by many despite it seeming like an obvious move today. It sounds naive to say, but the truth is that many collectors and experts were not thinking of the legacy brands of high-end watches as being on a trajectory of year-over-year growth supported by steel watches, so moves like the Aquanaut and soon after, the Twenty-4, took some time to understand. From the viewpoint of opening up to new clients, new collections, and company growth, Patek Philippe was ahead of the curve and set themselves up beautifully for decades to follow. For the purists and/or complications-focused collectors, it took time to reconcile this ever-broadening approach to products.”

William Massena had this to say:

“The vast majority of the collectors loved it, and especially the Italians, who were still the tastemakers back then. There were a minority of collectors, including me, who thought the watch was a cheap version of a Nautilus with a cheap-looking rubber strap and a weird matching dial.”

Indeed, the Aquanaut was interesting as a fun, daily wear watch for serious collectors, but it was hardly part of the common discussion around Patek Philippe at the time. Thierry Stern told us today in person that while collectors loved the Aquanaut in the beginning, the trade press at the time thought it might mark the end of Patek Philippe as they knew it. It was familiar and accepted but viewed very much as a “beginner’s” watch and its demand was not pronounced at all, really, until the early 2010s. They were available readily at retail.

The same could be said for the Nautilus, from its launch in 1976 – which sold well, but not very well – all the way to the introduction of the 5711 in 2007. For years, the Nautilus and Aquanaut languished as the watches one would buy on their way to a complication. They sat in cases, often selling for a discount. I have a clear memory of a friend who worked at Patek Philippe over 10 years ago – and when her husband wanted to purchase a watch – the only watch her manager would approve to be sold internally was indeed a 5711A. I digress.

The point of this section is to provide context for the Cubitus launch and how it sits in context to the Nautilus from 1976 and the Aquanaut from 1997; it is simply a continuation of an exploration of shaped, sporty watches that still speak to the Patek Philippe collector. And like what I expect we will see in response to Cubitus, the responses for both of these watches were mixed, at best, as well.

I think it’s worth mentioning a few other recent launches here as well that, in my view, really align with Cubitus. The obvious historical firsts in this category were the AP Royal Oak and the Nautilus in the ’70s, but in more recent years, PP’s colleagues in the traditional holy trinity of watchmaking have done similar things in an attempt to bring the average age of their consumer downward – and allow fresh blood into the brand and away from the historical models that had come to define them.

In 2018, the watch community clutched its pearls when Vacheron Constantin introduced the FiftySix collection – a new, entry-level collection that was, at the time, priced as low as $11,700. The feedback then was similar to that of the Aquanaut – that a brand like Vacheron Constantin did not need to make watches at that price point, with that level of quality. The feedback from the “comments section,” which includes but is not limited to those on this site, was fairly negative. Meanwhile, today, FiftySix represents a sizable chunk of Vacheron’s sales and is often the first watch their long-term clients purchase. It should be noted that the FiftySix in gold is also a very strong seller for Vacheron. In short, the FiftySix did exactly what it was supposed to do.

A year later, AP dropped Code 11:59, which set a snark-fest world record. There were calls for then-CEO Francois Bennahmias to resign over it! Now 11:59 features some genuinely in-demand models like the Starwheel and, indeed, the GPHG-award-winning RD4, the most complicated AP ever. It also makes up more than 10% of the company’s sales.

Patek’s mic drop launches.

I’ve just returned from Patek Philippe Germany HQ, where I was one of six American journalists asked to see the pieces live on the day of launch (others being from NYT, Bloomberg, GQ, Esquire, and Robb Report). We were presented with the entire collection by technical director Philippe Barat, and then we sat with Thierry Stern before seeing the watches themselves. It is clear this watch means a lot to all of them. Thierry said he began with two things: first was the simple fact that 85% of watches sold in this world are round – and though he thinks the TAG Heuer Monaco is very cool, he found it too thick – so he wanted to make a square watch, but thin. 

The next thing he had from the outset? The name. “Cubitus” existed before this version of the watch. And what’s more, he told us that the first design he came up with was actually a dress watch – but he realized quickly that he wanted to play in the Aquanaut/Nautilus arena, and continued to iterate until he landed here – with an entirely new family of watches aimed at younger, newer buyers.

Like all things in life, the Cubitus family is nuanced and better in the real than any leaked ad would indicate. And frankly, aesthetically, the one that Patek Philippe is advertising is the least attractive while also being the most interesting – which I suppose can be said for many things in life. The two reference 5821s really feel very much like a square Nautilus. And that is because, frankly, they are – and that’s okay – because the 5711A was an incredibly satisfying watch to own. The two-toned model, which Thierry describes as “the dandy model” (in this way), is fun, though I do wish they’d made a solid gold version of it. If they were to do two-tone, I’d prefer it in steel and yellow, but that’s just personal affinity. 

The green dial 5821 is the clear stand out for me and I’m quite sure will be the one that everyone is after – just like the green dialed Nautilus was when it briefly came to life. This watch is in the exact same shade – a color that Thierry loves. 

When comparing the 5821 to a contemporary 5811, the watches really feel like brothers. And certainly, they are. But if one didn’t know any better, you could think that the 5821 perhaps was born around the same time as the Nautilus and not over fifty years later. As you can see here, the 45mm diameter of the Cubitus versus the 41mm of the Nautilus look about the same in my hand – so sizing should not be a huge concern. The time/date references really do feel like part of the Patek Philippe family already.

And then there is the 5822P. This is clearly the halo piece for the family and, indeed, the one Mr. Stern and Mr. Barat were wearing when we met. It is platinum and complicated, with that new movement tucked inside. Its execution on the strap is practical, and the caliber is impressive. But I do have serious thoughts about the dial layout here – the symmetry of it all, or lack thereof. 

The easiest thing to compare it to is the 5712 Nautilus, which is a hot watch for collectors despite its asymmetry – but it does appear to be more balanced than this new Cubitus. Perhaps it’s the four different-sized hour markers from four to eight o’clock on this watch that throw everything off? I think people will definitely want it because it’s platinum, complicated, and a Patek Philippe, but I do think more attention could’ve been paid to the details on this one in particular. I can certainly respect the engineering put into this caliber, of course.

So now you’ve read all there is to read on the Patek Philippe Cubitus you could possibly want to read – let’s get into what I actually think. 

What I Like About The New Cubitus

1. The collection, on the wrist and in the metal, feels very much part of the Patek Philippe family already.

2. Wonderful dial, movement, case, and bracelet construction, as one would expect.

3. Nice dial/material tones and choices across the family.

4. Use of updated, stop seconds, self-winding movement in 5821 and use of innovative, patent-rich caliber in the 5822.

5. A real sense of pride in the product launch from the people who made it, which is not always the case. But when it’s real, it’s infectious.

What I Don’t Like About The New Cubitus

1. The pricing. As a reminder, it is $88,378 for the calendar in platinum, $61,275 for the bi-metal, and $41,243 for the steel 5821. Before I received this information, I assumed the pricing of the steel – which is probably most relevant to all of us – would be in the low 30s. Instead, it’s in the low 40s. The last time a steel Nautilus was produced – the green dial – the retail price was $34,893. Shortly before that, the retail price of a standard 5711A was in the mid-20s. Now, there’s inflation and simple supply and demand, but this watch didn’t strike me as a $40k watch. Thierry said he was shooting for a 35k CHF watch, and put that way, it sounds better, but beginning with a 4, it feels slightly out of line. For comparison’s sake, that’s about $10,000 more expensive than a current production AP Royal Oak 15510 in steel. Maybe the brand alone is worth it? I’m not sure.

2. The dial design of the 5822P. I love the complexity of the movement, and I’m okay with asymmetry, but I think there could be more time spent tweaking the layout of this dial to make it feel more finished. Frankly, because it was this watch that leaked in the Fortune ad, I think many assumed it was worse for the collection at large. 

3. The need for manual pushers. Again, on the 5822P – I respect the big date and all that went into this watch, but I would’ve hoped that by the year 2024, we’d be at a point where no pushers/manual adjusters are needed. To me, a watch like this should be able to be set by the crown without the use of any tools, and here, three are required. I am quite sure it would’ve been possible had they been able to make a thicker movement, but thinness was a top consideration. So, I understand it, but for Patek, at this price point, I’d like to see it all on the crown, especially considering that it’s a whole new movement.

4. No interchangeable straps. To be clear, the concept was simply a rumor, but again, this is a watch aimed at broadening the appeal, and it’s so easy to do. I would’ve loved to see the whole range be offered with composite, rubber, and bracelet options. Perhaps it’s a bit too “me too” with the Overseas, but you can’t argue with how much versatility it adds to a watch that should have plenty of it.

5. The movement isn’t shaped. When I saw these new models in person, the first thing I wondered was if Patek had replaced the base plates of these calibers with square ones. It isn’t a big deal and doesn’t change anything, but it just would’ve been nice to have a shaped movement in a shaped case.

Why It Doesn’t Matter What I, Or Anyone, Thinks

1. Well, every single Cubitus will sell the moment it touches a retailer’s door. And that’s the world in which we live today.

Further Take Aways From Time With Patek Philippe

While the majority of our chat today with Mr. Stern was around Cubitus, there were some interesting nuggets he dropped casually. First, the Cubitus collection is fully designed through 2039. Second, he doesn’t care about any water resistance past 30mm, and yes, he is actually a diver. Patek Philippe makes 72,000 watches per year, and that will remain the same henceforth, even with Cubitus. It does mean some watches will be dialed back, but he says that has already taken place, and no one will notice anything different. He says he will ask retailers to allocate the Cubitus to new, younger clients, but he knows that the first year, they will go to retailer VIPs. He does think it will be possible to get one after year one, though. 

And finally, and certainly most importantly for any lover of Patek Philippe, Mr. Stern’s son was in attendance today and is beginning to apprentice with his father at the helm of this most important company. Mr. Stern said without any hesitation that he would leave the company to his sons, and they would run it for years to come. If he wanted to sell it to Rolex, LVMH, or anyone else, he easily could – but his children love watches and love the brand, and it will remain with them for the long run. And that is as good of news as any.