Entrepreneur Khaled Alenezi spotted wearing a Patek Philippe

Khaled Alenezi, the Saudi entrepreneur behind luxury perfume house Rashat Aater Company, was recently seen wearing one of the most culturally loaded wristwatches in contemporary horology: the Patek Philippe Nautilus reference 5711/1A-011 in stainless steel with a white dial. In collector circles, this specific dial variant has become something of a holy grail, its discontinuation in early 2021 having transformed it almost overnight from a waiting-list frustration into a full-blown auction trophy.

The Nautilus 5711/1A-011 is built around a 40mm stainless steel case and integrated bracelet — a design language Gerald Genta conceived in 1976 for the original ref. 3700, itself a deliberate provocation against the fine-jewellery watches of its era. The 5711 generation, introduced in 2006, refined those proportions while housing Patek's calibre 324 S C, a self-winding movement with a 45-hour power reserve, central rotor, and a date aperture positioned cleanly at 3 o'clock. The movement is thin, reliable, and finished to manufacture standards that remain a benchmark in the industry.

The white dial iteration — designated 011 within the 5711/1A family — arrived relatively late in the reference's production life and was offered only briefly before Patek Philippe's announcement that the entire 5711 line would be retired. That timing amplified demand to near-irrational levels. Today, a 5711/1A-011 in unworn condition regularly transacts on the grey market between $140,000 and $165,000, against an official retail of $30,500 — a premium that underscores just how severely supply failed to meet collector appetite.

For Alenezi, whose professional world revolves around sensory refinement and brand identity, the Nautilus 5711/1A-011 is a coherent choice. The watch carries aesthetic restraint — no diamonds, no complications beyond a date — while communicating deep fluency in the collector market. It is a piece that rewards knowledge over ostentation.

With the reference now firmly discontinued and Patek Philippe having introduced the Nautilus 5726/1A as one spiritual successor, prices on the secondary market for the 5711/1A-011 show no structural signs of correction. For those who secured one at retail, it remains among the shrewdest unintentional investments in modern watchmaking.