Price comparison: Patek Philippe watch

Based in Geneva Switzerland, Patek Philippe is a luxury watch manufacture formed in 1851 whose watches have long been favored by the world’s movers and shakers. In fact, it was in 1851 that the firm began supplying its watches to Queen Victoria and Prince Albert along with the other royal courts of Europe. In addition, Patek Philippe has the distinction of holding the world record for selling the most expensive modern wristwatch at Hong Kong Sotheby's for HK$11.75 million (US$1.49 million) in 2008.

Hence, the Asian Wall Street Journal’s weekly Arbitrage column has recently conducted a survey of prices for a Patek Philippe watch in various cities in Asia and around the world. The survey found that prices were all over the place – that is, highest in Shanghai and New York, consistently low across Europe and lowest in Sydney.

Price Comparison*

Shanghai	225,000 Yen	US$32,958
New York	US$26,753	US$26,753
Singapore	S$36,600	US$26,256
Manila	1.19 Million Pesos	US$25,597
Kuala Lumpur	82,100 Ringgit	US$24,826
Hong Kong	HK$187,500	US$24,158
Tokyo	2.14 Million Yen	US$23,653
Bangkok	765,000 Baht	US$23,621
Brussels	€16,650	US$22,941
Rome	€16,550	US$22,803
Paris	€16,490	US$22,721
Frankfurt	€16,410	US$22,611
London	14,700 Pounds	US$22,388
Sydney	A$22,000	US$20,214

* Calatrava 6000G in white gold. Prices are based upon foreign exchange rates as of March 17, 2010.