• Rolex Watches Worth $5 Million Each: Four Unique Daytonas Inspired by the Seasons to Go Under the Hammer for Charity

  Rolex is officially putting four one-of-a-kind Cosmograph Daytona chronographs up for auction, each inspired by one of the four seasons. The exclusive collection will be sold by London auction house Phillips, with proceeds benefiting the Roger Federer Foundation and Re, the environmental organization co-founded by Leonardo DiCaprio...

• Small Rolexes, Big Money: Why Women’s Watches Are Breaking Records on the Secondary Market

  The secondary watch market is seeing a dramatic surge in demand — and prices — for smaller women’s and classic Rolex models, according to Robb Report...

• Cartier Takes the Mask Off the Tank Américaine: The Iconic Watch Becomes a Skeleton for the First Time

  Cartier has unveiled the Tank Américaine in a skeletonized version for the first time, exposing the movement that has traditionally remained hidden behind the dial. At the same time, the maison has introduced a new version of the watch featuring a striking gradient burgundy dial...

• Forgotten for 90 Years — Then Worth a Fortune: Abandoned Patek Philippe Watch Sells for £59,000

  A rare 1930s Patek Philippe watch that had spent decades gathering dust among old jewelry in a deceased woman’s jewelry box has sold at auction for an astonishing £59,000...

• The World’s Most Expensive Neighborhood: $550 Million Apartments, Formula 1 Stars and Billionaires

  A new symbol of ultra-luxury has emerged on the French Riviera: Mareterra, a man-made district built directly on the Mediterranean Sea. Villas and apartments here are selling for more than $200 million, with prices reaching as much as $12,900 per square foot. Among the residents and property owners are billionaires, Formula 1 stars and other members of the global elite, drawn not only by luxury and prestige but also by Monaco’s lack of personal income tax, Forbes reports...

• $1.2 Million for a Piece of History: Joe DiMaggio’s Famous Patek Philippe Hits the Market

  A piece of legendary baseball history could soon belong to any collector — provided they are willing to pay $1.2 million...

• Beyond Time and Eras: The $500,000-Plus Watch Designed to Keep Time for 1,000 Years

  Independent Swiss watchmaker Urwerk has never played by the traditional rules of horology. Now, the brand has reimagined one of its most ambitious concepts, unveiling a one-of-a-kind UR-1001 Amadeus pocket watch, according to Forbes...

• Samsung Ordered to Pay Swatch $11.6 Million for Copying Luxury Watch Designs

  The High Court in London has ordered South Korean technology giant Samsung to pay Swiss watchmaking group Swatch $11.6 million for allowing pirated versions of luxury watch dials to be offered for its smartwatches...

Swiss maker of the luxury watches coveted by collectors, Patek Philippe SA, has raised prices across its entire line, bucking an industry trend of slowing growth, Fashion Network reports.

The Geneva-based company, known for its Grand Complications, Calatrava business watches, and Nautilus sports watches, has increased prices by an average of about 7% since the beginning of February. The price of the 5236 platinum perpetual calendar, for example, has risen to $152,803.

A Patek Philippe spokesperson confirmed the February price increase and said it applies to all models and regions.

Swiss watchmakers have been aggressively raising prices amid an unprecedented boom during and after the pandemic, but the industry is now facing a slowdown in demand.

Chairman and controlling shareholder of Richemont, owner of the Cartier and Vacheron Constantin brands, Johann Rupert said earlier that luxury goods makers may not be able to raise prices for two years.

Swatch Group AG, maker of Omega and Breguet, said last month that price increases in 2023 would not be enough to offset the strength of the Swiss franc.

The Patek price increase follows industry giant Rolex's decision in January to raise prices on some models in the UK by around 4%, while leaving US prices unchanged. Rolex produces more than 1 million watches a year, while Patek produces about 70,000.

Also, Patek has discontinued several models in its line, including the popular stainless steel Aquanaut Travel Time, according to watch enthusiast website Hodinkee.

Follow NEWS.am STYLE on Facebook, Twitter and Instagram