Patek Philippe's new Cubitus watch line hits a $50,000 profit milestone in a record-breaking California auction, as collectors drive demand through the roof.
Digital Worldwide News
November 12, 20224
Patek Philippe's bi-colour Cubitus. The watch sold for $112,500 at a California auction, showcasing skyrocketing demand for this luxury timepiece.
Patek Philippe's Cubitus collection is the latest sensation in the luxury watch market. Though it has been on the market for less than a month, its value is already soaring, especially for buyers and sellers eager to cash in. The buzz around the Cubitus was immediate, with Chrono24, a major online marketplace for luxury watches, quickly filling up with listings. However, most of these were speculative—what industry insiders call “selling pictures”—posted by sellers without actual inventory, hoping to catch a buyer in the high-demand wave.
But in California, the real thing made headlines. Bezel, an online auction house based on the West Coast, recently completed a sale of a bi-colour Cubitus for $112,500, well above its retail price of $61,275. For Bezel, this transaction represented a profit of nearly $50,000, proving just how much demand has outpaced supply.
The Cubitus isn’t an average timepiece. Released by Patek Philippe, a legendary brand in Swiss watchmaking, the square-shaped model is already rare, and demand has skyrocketed, especially in online marketplaces. Bezel’s sale set a new standard, offering a firsthand look at just how valuable these watches have become. While the final hammer price of $112,500 fell slightly below the current listings on Chrono24, where similar bi-colour Cubitus pieces are listed for as high as $130,000, it nonetheless demonstrated the intense interest surrounding this new collection.
Chrono24’s pages are brimming with images of the Cubitus, with prices escalating beyond retail. The all-steel model, sporting an olive green dial, has been similarly advertised, reaching the same ballpark figures. This indicates a sustained demand for all models within the Cubitus line, particularly as more buyers chase a limited number of pieces.
For those not familiar, the Cubitus watch is crafted in two striking styles: all-steel with a green dial, and a bi-colour version in steel and gold. The bi-colour model is particularly notable, appealing to both collectors and first-time buyers. Its unique look blends the classic prestige of gold with the durability of stainless steel, giving it a high-end, contemporary appeal.
Bezel’s recent auction showcased this, with the bi-colour Cubitus taking center stage. Presented as “unworn” and “in pristine condition,” the watch was sold with its original box and papers, authenticating it as a collector’s gem. For buyers, especially those looking to invest in luxury watches, provenance is essential. Bezel’s rigorous authentication process ensures that buyers can trust the quality and authenticity of their purchases, adding to the platform’s growing reputation.
California has become a major market for high-end luxury items, including watches, as Bezel’s auction demonstrates. Bezel’s business model stands out in the market; they act as intermediaries, verifying each piece before completing the sale. This creates a seamless experience for both the consigner and the buyer, building trust with collectors and investors alike.
This role as a middleman is crucial, especially with the high value of luxury watches today. For a Patek Philippe watch selling at more than double its retail price, verification is essential. Bezel’s reputation for accurate, authentic transactions has attracted clients who want the real deal, and this is especially important for the Cubitus collection. Buyers are willing to pay more for the reassurance that their investment is safe.
In the short term, experts believe prices for the Cubitus will remain high. The watch has only been on the market for a few weeks, yet demand shows no signs of slowing. Collectors and speculators are keeping a close watch on each transaction, as every sale could potentially set a new standard for the collection’s market value.
Patek Philippe is no stranger to the luxury resale market. As one of the most revered names in Swiss watchmaking, their collections often gain value over time, and many buyers view them as investments rather than mere accessories. The Cubitus, with its striking square design, has introduced a fresh aesthetic to the brand’s offerings, making it particularly enticing to new buyers who want something different from Patek Philippe’s more traditional models.
The success of Bezel’s auction underscores a larger trend: the rise of online marketplaces in the luxury sector. While in-person auctions once dominated the market, platforms like Bezel offer accessibility and convenience that appeal to modern buyers. They allow buyers to participate in high-value auctions from anywhere in the world, and their rigorous authentication standards help build trust in the process.
Chrono24’s listings show that many luxury watch dealers have moved online, responding to global demand from buyers who may not have easy access to exclusive showrooms. The move to online sales is democratizing access to high-end goods and giving collectors more opportunities to buy, sell, and flip watches, just as Bezel has done with the Cubitus.