Discounts at AD

[Chiverz]

Out of pure curiosity, I was wondering about the general consensus about the concept of discounts nowadays (if such things still exists for hot pieces), do you guys still feel comfortable asking the AD for a discount these days? (market crash after all, right?)

Is it something one could/should ask or should we just be grateful to get the pieces we asked for?

Don't shoot me please but you can call me a lunatic

[dauster]

Originally Posted by Chiverz

Out of pure curiosity, I was wondering about the general consensus about the concept of discounts nowadays (if such things still exists for hot pieces), do you guys still feel comfortable asking the AD for a discount these days? (market crash after all, right?)

Is it something one could/should ask or should we just be grateful to get the pieces we asked for?

Don't shoot me please but you can call me a lunatic

I have had some offers from harder to move pieces such as grand comps but I am not in a position to buy them anyway right now. I think discounts will have to come back just look at the secondary market prices for 5270J, 5230P or 5524 we are talking tens of thousands in lower market value vs retail price. also, bundling will probably come back again if it has not already arrived.

[Calatrava r]

I think PP is all over ADs not to discount at the moment. I am sure they would love to offer some accommodation on the complicated watches which lose value in the used market. I would not expect anything from ADs with all the doors being closed.

[johnsonsxusfrt]

Originally Posted by Calatrava r

I think PP is all over ADs not to discount at the moment. I am sure they would love to offer some accommodation on the complicated watches which lose value in the used market. I would not expect anything from ADs with all the doors being closed.

The problem is outside the Nautilus line and a few other select highly rare piece, the rest of the PP's gets killed in the secondary market. I've been eyeing the 5524R but I can't imagine buying one from an AD when they're going for 40% below retail on the secondary market

[bobernet]

Originally Posted by johnsonsxusfrt

The problem is outside the Nautilus line and a few other select highly rare piece, the rest of the PP's gets killed in the secondary market. I've been eyeing the 5524R but I can't imagine buying one from an AD when they're going for 40% below retail on the secondary market

New cars depreciate, too. So, buy secondary, or acknowledge the loss you incur buying new. Watches are fashion items, not an asset class.

[johnsonsxusfrt]

Originally Posted by bobernet

New cars depreciate, too. So, buy secondary, or acknowledge the loss you incur buying new. Watches are fashion items, not an asset class.

wait, I thought we were supposed to play the AD game here. You know, buy a bunch of Patek's from the AD that lose a ton of value in the hopes we can get a 5980 in 5 years LOL!!

[DennTs]

Originally Posted by johnsonsxusfrt

wait, I thought we were supposed to play the AD game here. You know, buy a bunch of Patek's from the AD that lose a ton of value in the hopes we can get a 5980 in 5 years LOL!!

LOL... and if the price of 5980 holds or up in the next 5 years.

I am not entertain any AD right now

[ChetBaker]

Originally Posted by bobernet

New cars depreciate, too. So, buy secondary, or acknowledge the loss you incur buying new. Watches are fashion items, not an asset class.

Of course they are assets. They’re not investments.

[LJubel328]

While there might not be any discounts, bundling is making a comeback. For what it’s worth, which is probably not much, I believe that Patek has shot themselves in the foot.

They significantly reduced their authorized dealer list, leaving many long-time loyal customers feeling neglected, with little to no communication on behalf of the brand—leaving many with a bitter taste in their mouths. This all worked fine with a rising tide. Those loyal customers were forced to establish new relationships with other authorized dealers, coinciding with an influx of late adopters who viewed watches as investments, integrating them into their newly refined asset allocation.

Fast forward to today, most of Patek's current catalogue is selling below MSRP in the secondary market (except for the Nautlilus, Aquanauts, and MRs). Furthermore, customers now have hesitancy concerning whether their AD will retain their Patek relationship in the next year or two when considering purchasing a watch in-store.


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[bob101]

This post is spot on and why I am in no rush to make another AD relationship anymore after losing mine. No options to shop elsewhere and starting from scratch.
Better to just buy the pieces you want used or grey. Don’t expect favours from ADs when there is a good chance they will not deliver what you’re hoping for or lose relationship before they do. Meanwhile prices go up 7% every year? No thanks..

[codecow]

I first found out my AD lost it when there was no retailer mentioned on the cover letter with the Patek magazine.

[Watchguynyc8300]

NY ADs still pretending they have a list of customers and all the watches in display cases are “pre-sold”

Pretty absurd.

[sampelligrino]

Originally Posted by LJubel328

While there might not be any discounts, bundling is making a comeback. For what it’s worth, which is probably not much, I believe that Patek has shot themselves in the foot.

They significantly reduced their authorized dealer list, leaving many long-time loyal customers feeling neglected, with little to no communication on behalf of the brand—leaving many with a bitter taste in their mouths. This all worked fine with a rising tide. Those loyal customers were forced to establish new relationships with other authorized dealers, coinciding with an influx of late adopters who viewed watches as investments, integrating them into their newly refined asset allocation.

Fast forward to today, most of Patek's current catalogue is selling below MSRP in the secondary market (except for the Nautlilus, Aquanauts, and MRs). Furthermore, customers now have hesitancy concerning whether their AD will retain their Patek relationship in the next year or two when considering purchasing a watch in-store.


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Exactly why I never bothered with an AD and solely go grey, get what I want only & shipped to my doorstep next day..

[Turbo Racer]

Originally Posted by LJubel328

While there might not be any discounts, bundling is making a comeback. For what it’s worth, which is probably not much, I believe that Patek has shot themselves in the foot.

They significantly reduced their authorized dealer list, leaving many long-time loyal customers feeling neglected, with little to no communication on behalf of the brand—leaving many with a bitter taste in their mouths. This all worked fine with a rising tide. Those loyal customers were forced to establish new relationships with other authorized dealers, coinciding with an influx of late adopters who viewed watches as investments, integrating them into their newly refined asset allocation.

Fast forward to today, most of Patek's current catalogue is selling below MSRP in the secondary market (except for the Nautlilus, Aquanauts, and MRs). Furthermore, customers now have hesitancy concerning whether their AD will retain their Patek relationship in the next year or two when considering purchasing a watch in-store.


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Really excellent and concise synopsis and a big reason why I have neglected to follow up with my ad.

[johnsonsxusfrt]

the elephant in the room is that many of these ADs have been working a side hustle with the Nautilus line (and recently the aquanauts) and we all know it LOL!! I'll leave it there...

[scurfa]

Originally Posted by LJubel328

While there might not be any discounts, bundling is making a comeback. For what it’s worth, which is probably not much, I believe that Patek has shot themselves in the foot.

They significantly reduced their authorized dealer list, leaving many long-time loyal customers feeling neglected, with little to no communication on behalf of the brand—leaving many with a bitter taste in their mouths. This all worked fine with a rising tide. Those loyal customers were forced to establish new relationships with other authorized dealers, coinciding with an influx of late adopters who viewed watches as investments, integrating them into their newly refined asset allocation.

Fast forward to today, most of Patek's current catalogue is selling below MSRP in the secondary market (except for the Nautlilus, Aquanauts, and MRs). Furthermore, customers now have hesitancy concerning whether their AD will retain their Patek relationship in the next year or two when considering purchasing a watch in-store.


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Any true watch enthusiasts could see this happening, It has put me off any future purchases and caused me to lose interest, I’m back lusting after vintage models.


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[Donjo]

The saleslady at the Geneva Salon was exceptionally dismissive. I explained that after years of purchasing my dealer had gone out of business. She said something in French which translated to "tough luck for you,' and that is what happens in life." She immediately stated that none of the watches were for sale, so what was my purpose coming in the store? I said I wanted to handle some watches I was interested in, and she replied that's what you have a dealer for. I told her that at present, I DO NOT have a dealer. Her reply was to escort us to the door, suggesting we find one. Management of the Museum staff were quite shocked at her behavior. For instance, when I asked her about the type of a movement, she replied that I could look it up just as easy as she could, then she stated, any questions? In my mind I'm thinking yes, "what happened to their brand rep in Geneva."

"

[gm58]

Originally Posted by Donjo

The saleslady at the Geneva Salon was exceptionally dismissive. I explained that after years of purchasing my dealer had gone out of business. She said something in French which translated to "tough luck for you,' and that is what happens in life." She immediately stated that none of the watches were for sale, so what was my purpose coming in the store? I said I wanted to handle some watches I was interested in, and she replied that's what you have a dealer for. I told her that at present, I DO NOT have a dealer. Her reply was to escort us to the door, suggesting we find one. Management of the Museum staff were quite shocked at her behavior. For instance, when I asked her about the type of a movement, she replied that I could look it up just as easy as she could, then she stated, any questions? In my mind I'm thinking yes, "what happened to their brand rep in Geneva."

"

This is shocking! Salons are exactly for handling pieces and showing (even if they are not selling any), the London salon was a good experience as they did sit down with you and show a few simple pieces

[Ichiran]

My own experience at the Geneva Salon was completely opposite from above posters. Despite them knowing I'm not a local and have zero purchase history there, Roberto was warm, respectful, patient and knowledgeable. He showed me all the watches I asked to handle knowing I'm not buying any of them, and described these watches to me in details. When I was walking around the Salon, I saw the other Sales professionals mingling with their customers almost like how RMs in banks deal with their VIPs. I was deeply impressed with their level of service. I even received a free pair of tickets to the Museum which I did not ask for (I went to the Museum before I visited the Salon)

[bob101]

Originally Posted by Donjo

The saleslady at the Geneva Salon was exceptionally dismissive. I explained that after years of purchasing my dealer had gone out of business. She said something in French which translated to "tough luck for you,' and that is what happens in life." She immediately stated that none of the watches were for sale, so what was my purpose coming in the store? I said I wanted to handle some watches I was interested in, and she replied that's what you have a dealer for. I told her that at present, I DO NOT have a dealer. Her reply was to escort us to the door, suggesting we find one. Management of the Museum staff were quite shocked at her behavior. For instance, when I asked her about the type of a movement, she replied that I could look it up just as easy as she could, then she stated, any questions? In my mind I'm thinking yes, "what happened to their brand rep in Geneva."

"

That’s sounds awful. I would have made a complaint about her bad attitude.
Someone like that should not be working for the brand especially in the Geneva salon.

[dchang81]

Yea I kind of imagine parts were left out.....

[sensui]

Originally Posted by Donjo

The saleslady at the Geneva Salon was exceptionally dismissive. I explained that after years of purchasing my dealer had gone out of business. She said something in French which translated to "tough luck for you,' and that is what happens in life." She immediately stated that none of the watches were for sale, so what was my purpose coming in the store? I said I wanted to handle some watches I was interested in, and she replied that's what you have a dealer for. I told her that at present, I DO NOT have a dealer. Her reply was to escort us to the door, suggesting we find one. Management of the Museum staff were quite shocked at her behavior. For instance, when I asked her about the type of a movement, she replied that I could look it up just as easy as she could, then she stated, any questions? In my mind I'm thinking yes, "what happened to their brand rep in Geneva."

"

Crazy thing is....I've had worst service than this in terms of disrespect in a Patek AD....but that was not the salon in Geneva....I'd think anyone would hold them to high standards people would expect from Patek.....very surprising and first I've heard of something like this out of the Geneva Salon. Sorry for your experience and I don't think I have anything I can say to convince you to come back to the brand....I personally wouldn't.

[byow]

Originally Posted by Donjo

The saleslady at the Geneva Salon was exceptionally dismissive. I explained that after years of purchasing my dealer had gone out of business. She said something in French which translated to "tough luck for you,' and that is what happens in life." She immediately stated that none of the watches were for sale, so what was my purpose coming in the store? I said I wanted to handle some watches I was interested in, and she replied that's what you have a dealer for. I told her that at present, I DO NOT have a dealer. Her reply was to escort us to the door, suggesting we find one. Management of the Museum staff were quite shocked at her behavior. For instance, when I asked her about the type of a movement, she replied that I could look it up just as easy as she could, then she stated, any questions? In my mind I'm thinking yes, "what happened to their brand rep in Geneva."

"

This surprises me a lot. Would you by any chance have the name of that person? You can PM if you prefer?

[Donjo]

Originally Posted by byow

This surprises me a lot. Would you by any chance have the name of that person? You can PM if you prefer?

I wasn't allowed in the store more than about 30 seconds. She was a mid30s year old brunette with a bad attitude. She neither offered a business card nor her name.

[byow]

Originally Posted by Donjo

I wasn't allowed in the store more than about 30 seconds. She was a mid30s year old brunette with a bad attitude. She neither offered a business card nor her name.

This is most unusual, especially when there was no other client in the Salons.
Are you sure that person was a SA? Was she standing behind the desk on the left, near the entrance?

[LJubel328]

Originally Posted by Turbo Racer

Really excellent and concise synopsis and a big reason why I have neglected to follow up with my ad.

Originally Posted by scurfa

Any true watch enthusiasts could see this happening, It has put me off any future purchases and caused me to lose interest, I’m back lusting after vintage models.

Me too, I have been lusting over a 5004 - still contemplating which variation.

Originally Posted by Donjo

The saleslady at the Geneva Salon was exceptionally dismissive. I explained that after years of purchasing my dealer had gone out of business. She said something in French which translated to "tough luck for you,' and that is what happens in life." She immediately stated that none of the watches were for sale, so what was my purpose coming in the store? I said I wanted to handle some watches I was interested in, and she replied that's what you have a dealer for. I told her that at present, I DO NOT have a dealer. Her reply was to escort us to the door, suggesting we find one. Management of the Museum staff were quite shocked at her behavior. For instance, when I asked her about the type of a movement, she replied that I could look it up just as easy as she could, then she stated, any questions? In my mind I'm thinking yes, "what happened to their brand rep in Geneva."

I am sorry to hear of your poor interaction. As others have noted, my experience within the Geneva salon was best-in-class. The SA brought me up to another floor and showed me each of the models from my long list and took the time to explain each's historical evolution. She was extremely knowledgeable and even gave me two straps as a parting gift.

[Bartolo]

I think that in November of 2023, the only reason to buy a piece new from an AD that clearly will depreciate the moment you leave the store with it is to "build up" to a status that'll get you something else (Nautilus, Aquanaut, Grand Comp, etc). At your own risk of course that the AD won't go out of business, etc etc etc.

I suspect that many of the very new pieces that hit the secondary market come from buyers such as the above. But it's just a guess. I also guess that some of them come from ADs who know it'll take them a while to sell . . . so they go for the cash at a discount.