The End of the Steel Nautilus 5712—Patek’s Plan Unfolds

Last week, the Steel Nautilus 5712 was discontinued. In true Patek fashion, the model simply disappeared from the website. That’s all the confirmation that’s needed from the manufacture. This following the brand’s discontinuing of the 5711 in 2022. While we had our suspicions, it’s clear now: Patek is systematically eliminating stainless steel sports watches. If you’re still holding out hope for a future steel Nautilus, perhaps it’s time to adjust your expectations. We bid the 5712, at retail, adieu here.

A Slow, Calculated Disappearance

The 5712 has always been a special piece in the Nautilus lineup. Its off-center dial, moon phase, and power reserve indicator made it stand out from the more straightforward 5711, giving collectors something a bit more complicated to chew on. But Patek doesn’t want to be a steel sports watch brand anymore—or at least, they don’t want it to be their calling card. They’ve been gradually pulling back, leaving precious metals and more intricate references in their catalog.

Secondary Market Insanity—Again

If you thought prices for the 5712 were already inflated, just wait. The moment Patek discontinues a popular watch like the 5712, the market goes a little crazy. We saw it happen with the 5711, where prices went from ridiculous to downright obscene. The same thing is will likely happen with the 5712. Collectors who were on the fence are likely now scrambling to secure one before prices hit an entirely new level of unattainability. If you don’t already own one, you’re either going to pay a painful premium or move on entirely. European Watch Company’s CEO Joshua Ganjei predicts that the price increase will not be immediate: “The discontinuation of the Nautilus 5712 was inevitable as Patek Philippe produced the model for almost 20 years. In the short term, many 5712 will come to the market as collectors look to cash in on the hype. We will see the market price come down a bit and slowly rise again over the coming years.”

Is Patek Steering Us Toward the Cubitus?

Then there’s the Cubitus—the new “entry-level” sports watch Patek introduced not too long ago. Call me skeptical, but this whole move feels like a way to push collectors in that direction. Take away the steel Nautilus, create a void, and watch the demand shift. Whether or not the Cubitus lives up to the legacy of the Nautilus is a different conversation altogether. But one thing is clear—Patek wants you to start looking elsewhere.

What’s the Play Now?

If you already own a steel 5712, congratulations. You’re sitting on a future auction house darling. If you don’t, you’ve got a decision to make—chase one now before prices go even further up or start exploring other options. Maybe it’s time to look at gold Nautilus models, or perhaps an Aquanaut if you still want that sporty feel. But one thing’s for sure: the days of the steel Nautilus being remotely accessible—even at a premium—are long gone.

Patek knows exactly what they’re doing. They’ve never been about chasing trends—they set them. And right now, they’re making one thing abundantly clear: if you want a Nautilus, you better be ready to pay up, or you better be willing to adapt.