Theologians might not agree, but a growing number of people with a taste for traditional, handcrafted mechanical watches are turning to Patek Philippe even though the venerable Geneva company faces an increasing number of competitors in the lucrative high-priced-watch field. If you're not familiar with expensive watches, think of it this way: When you see an oversize, flashy, diamond-­encrusted watch packed with bells and whistles, it's probably not a Patek Philippe. But if you see an elegant, straightforward watch that looks like it could have been made from the finest materials 100 years ago, you may be looking at a genuine Patek. Its trend is antitrend.

MOST PREMIUM-WATCH companies, even those with venerable names that can be traced back to the early days of pocket watches, are today owned by conglomerates that market not only watches but other luxury items, be they fountain pens or Champagne. Many buy their watch movements off the shelf from companies that produce tens of thousands of movements each year, allowing them to focus on decoration, presentation, and marketing rather than the inner workings of the actual watch mechanism.

In contrast, Patek Philippe produces virtually all of the tiny individual pieces needed for the assembly of a handcrafted timepiece in its headquarters on the outskirts of Geneva, in a modern building where the lobby atrium is decorated with a ceiling-high bas-relief of the company's most famous complicated movement, the Caliber 89. This makes their production process more time-consuming and more personal. The development of a new model may take four to five years or more - too slow to keep up with fashion, but painstaking­ enough to ensure that the piece will last 50 years or more. The value of the watches is indisputable; a recent Vox magazine survey of the 10 most expensive vintage watches sold at auction found that Patek Philippe made all 10. The most expensive sold for more than $4 million.