Pateks Philippe watches fell in early trade, with the watch selling for a mere $8,900 less than its September 2013 price of $12,300.
The company said on Friday that it has no plans to raise its earnings forecast for the quarter and that it expects its sales in 2017 to be flat.
In its earnings report on Thursday, the company said that it is selling 1.2 million watches a week, down from 1.4 million the previous week.
It said that sales in the first half of the year were lower than anticipated, largely due to the impact of Hurricane Maria in Puerto Rico.
Analysts expect the company to report its fourth-quarter results next month.
The watch company said it sold just 1.1 million watches in its first six months of sales in 2016, down slightly from the 1.3 million that it sold in the same period a year earlier.
Patekus said that its sales during the first three months of 2017 were up 4.7% over the same quarter a year ago.
The price of the Patekt Philippe 3-Series watch jumped from $1,300 to $1.2, which was not enough to overcome a 3% drop in the price of a Pateky Philippe 5-Series.
Analyzing the watch market in the past, analysts have said that Patekos Philippe 3 and 5-series watches are more popular than the 3-series of the 6-series watch that the company introduced last year.