Patek Philippe’s Thierry Stern on Risk, Passion, and the Nautilus Legacy

Geneva – Thierry Stern, President of Patek Philippe, emphasizes the critical role of passion and a willingness to push boundaries in maintaining the brand’s legacy. Stern’s insights, shared during an exclusive interview at Watches & Wonders 2026, highlight a philosophy where deep appreciation for watchmaking is a fundamental requirement for success within the company.

The Importance of Passion in Watchmaking

Stern asserts that a genuine love for watches is not merely beneficial but essential for anyone working at Patek Philippe. “If you do not like watches, don’t expect to be able to do this job,” he stated during the interview. He believes that clients, being discerning and intimately familiar with their timepieces, can readily detect a lack of genuine enthusiasm from those involved in their creation and service.

Celebrating 50 Years of the Nautilus

2026 marks the 50th anniversary of the Nautilus, Patek Philippe’s iconic model. Launched in 1976, the Nautilus, designed by Gerald Genta, initially faced criticism from traditionalists who considered its design too unconventional. Its porthole-inspired case and integrated bracelet were seen as a departure from Patek Philippe’s established aesthetic. Today, the Nautilus is highly sought after, commanding significant prices and facing extensive waiting lists.

Stern reflects on the initial reaction to the Nautilus, noting, “When the Nautilus was launched, I was six. Everybody who was complaining in 1976 – and believe me, there were many – is long gone.”

Limited-Edition Nautilus Models

To commemorate the milestone anniversary, Patek Philippe has unveiled three limited-edition Nautilus models, including references in white gold and platinum. A whimsical desk clock inspired by the Nautilus design has also been released.

Patek Philippe and Recent Legal Cases

Patek Philippe watches were among the luxury items seized in connection with a S$3 billion money laundering case in Singapore. In August 2025, 466 luxury items, including Patek Philippe and Richard Mille watches, along with 58 gold bars, were handed over to Deloitte for liquidation. Stomp reported on this development. The police had previously seized or taken control of approximately S$1.25 billion in non-cash assets during the investigation.

a Patek Philippe Perpetual Calendar Chronograph Reference 1518, made in 1943, sold for 14.19 million Swiss francs (approximately S$22.9 million) in November 2025, surpassing its previous sale price from nine years prior. The Straits Times detailed this auction result, noting its rarity as one of only four known stainless steel models.

Asset Liquidation and Government Confiscations

As part of the ongoing investigation into the money laundering case, the Singaporean government confiscated 207 properties, 77 vehicles, and over S$1.45 billion in bank accounts, in addition to the seized assets. Business Times reported on these confiscations in early 2024.