Patek Philippe & Co. is a Swiss luxury watch manufacture located in Geneva and the Vallée de Joux. Their true rivals are Vacheron Constantin, Audemars Piguet, A. Lange and Sohne, Breguet, and Blancpain.Amongst manufacturers, Patek Philippe & Co. has a long history. Polish watchmaker Antoni Norbert Patek started making pocket watches in 1839 in Geneva, along with his fellow Polish migrant Franciszek Czapek. They separated in 1844, and in 1845 Patek joined with the French watchmaker  Adrien Philippe, inventor of the keyless winding mechanism. In 1851, Patek Philippe & Co was founded.In 1868, Patek Philippe & Co. made their first wristwatch. They have also pioneered the perpetual calendar, split-seconds hand, chronograph, and minute repeater in watches.The company, like other Swiss manufacturers, produces mostly mechanical movements of the automatic and manual wind variety, but has produced quartz watches in the past and even a digital wrist watch, the Ref. 3414. Patek Philippe & Co. is notable for manufacturing its own watch components.Patek Philippe & Co. timepieces have recorded high closing prices in auctions worldwide. A large part of the demand for auction pieces is driven by Patek Philippe themselves, as they are often purchasing in the auction market to add to the collection of the Patek Philippe Museum in Geneva.The company is currently owned by the Stern family, led by Philippe Stern and his son.