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New York, NY--Patek Philippe is expected to reduce U.S. retail prices by as much as 8% on select models beginning February 1, according to a report by Hodinkee. Prices in other regions are expected to increase by approximately 4%.

[Image via iStock.com/baona]

The changes follow a reduction in U.S. tariffs on Swiss imports to 15% from 39%. Per the outlet, sources said prices for high-value and appointment-only models in the U.S. will fall by about 3.4%, and retailer margins will increase by three to four percentage points. The sources requested anonymity because they are not authorized to discuss the company's pricing decisions publicly. Patek Philippe had raised U.S. prices by about 15% in 2025 after the higher tariff rate was implemented. 

Luxury watch prices increased sharply in 2025 amid higher costs tied to tariffs, a stronger Swiss franc, and rising gold prices, which exceeded $4,500 per ounce. The report noted that brands including Cartier, Rolex, Omega, and Tudor also raised prices during the year.

At the start of 2026, Rolex increased U.S. prices by an average of 8%, with larger increases for gold models. Reports of Patek Philippe's planned U.S. price reductions were first published by Kingflum and the ScrewDownCrown blog on Substack and later confirmed by Hodinkee through multiple U.S.-based authorized retailers.

Based in Geneva, Patek Philippe reports estimated annual revenue of about CHF 2.3 billion and produces approximately 72,000 watches annually, with an average sales price of about $50,000.

Read more in this Hodinkee report here.