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otisc · 17 January 2015, 09:52 AM

WOW - Patek is investing 450 million CHF (approx $430-530 million, depending on how the FOREX smoothes out) on new facilities!

http://www.hodinkee.com/blog/patek-p...es-manufacture

What I wouldn't give for a tour!

locutus49 · 17 January 2015, 09:55 AM

Wow. They must be doing okay financially.

HL65 · 17 January 2015, 10:01 AM

Yes I saw this earlier today...Very nice now we hope it translates to shorter time to have to wait for service of watches. Supposedly it will and this is much needed! Thanks for sharing...Cheers,

thomaspp · 17 January 2015, 11:26 AM

And shorter wait times on getting references!

subtona · 17 January 2015, 11:29 AM

Going more mainstream ?

Could it mean Less rarity and collectibility moving forward?

Or more of a marketing machine like for instance Panerai with over abundance and rehashing of SE models?

Of course I hope not but there has to be a big new plan for increased revenue to pay for this new space.

HL65 · 17 January 2015, 11:55 AM

Quote:

Originally Posted by thomaspp

And shorter wait times on getting references!

As always Patek likes to protect collector market and my guess is there will continue to be easy pieces to get and also harder ones. This is also a good thing as a collector!

Quote:

Originally Posted by subtona

Going more mainstream ?

Could it mean Less rarity and collectibility moving forward?

Or more of a marketing machine like for instance Panerai with over abundance and rehashing of SE models?

Of course I hope not but there has to be a big new plan for increased revenue to pay for this new space.

Wouldn't count on that Gus. Perhaps some interesting research and new pieces which is nothing new to Patek. Also as I said above much needed training for watchmakers to help speed up service time. A year for a perpetual calendar chrono plain crazy. Don't epxect any drastic changes IMHO! That isn't and has never been their strategy. Why would they shift gears now?

kilyung · 17 January 2015, 12:06 PM

Quote:

Originally Posted by HL65

Yes I saw this earlier today...Very nice now we hope it translates to shorter time to have to wait for service of watches. Supposedly it will and this is much needed! Thanks for sharing...Cheers,

Maybe a shorter wait time for your watches. I'm stuck with HSWA for my plebe Patek collection.

autohorology · 17 January 2015, 01:01 PM

I think they know they have a service time problem and it's probably on their agenda to fix. No one should have to wait a year for their prized possession to return from Geneva. That's a substantial amount of life lost without it on your wrist..

benlee · 17 January 2015, 01:05 PM

If building them to improve service turnaround, that's very welcome. But if building it to ram up production, then... it's a very different story. But I guess not, at least while PP still belong to the Sterns family.

RussW · 17 January 2015, 09:16 PM

I'm seeing this as Patek investing in their future, and assuring their independence for the foreseeable future. By paying for this now they won't be reliant on anyone for funding if there are any bad times ahead.

HL65 · 17 January 2015, 09:21 PM

Quote:

Originally Posted by RussW

I'm seeing this as Patek investing in their future, and assuring their independence for the foreseeable future. By paying for this now they won't be reliant on anyone for funding if there are any bad times ahead.

Agree.

SearChart · 17 January 2015, 09:29 PM

Hmm that is good news, increases my chance of getting a job there when I'm done with watchmaking school.

Racerdj · 17 January 2015, 10:32 PM

Looks like a bucket list 'visit'!

texex91 · 18 January 2015, 12:26 AM

Two words--price increase

brandrea · 18 January 2015, 12:33 AM

Quote:

Originally Posted by texex91

Two words--price increase

kilyung · 18 January 2015, 01:05 AM

CHF change + new HQ =

el1125 · 18 January 2015, 01:16 AM

Quote:

Originally Posted by texex91

Two words--price increase

Seems spot on to me

Jabberjaw · 18 January 2015, 04:49 AM

Quote:

Originally Posted by kilyung

CHF change + new HQ =

Lol

incontrol · 18 January 2015, 10:13 AM

Quote:

Originally Posted by kilyung

CHF change + new HQ =

Not what I want to hear, but logical.

17 January 2015, 09:52 AM	#1
otisc "TRF" Member Join Date: Oct 2014 Location: Austin, TX Watch: 116610LV HULK Posts: 637	New Patek HQ WOW - Patek is investing 450 million CHF (approx $430-530 million, depending on how the FOREX smoothes out) on new facilities! http://www.hodinkee.com/blog/patek-p...es-manufacture What I wouldn't give for a tour!

17 January 2015, 10:01 AM	#3
HL65 TRF Moderator & 2024 DATE-JUST41 Patron Join Date: Dec 2007 Real Name: Ken Location: SW Florida Watch: One on my wrist. Posts: 63,478	Yes I saw this earlier today...Very nice now we hope it translates to shorter time to have to wait for service of watches. Supposedly it will and this is much needed! Thanks for sharing...Cheers, __________________ *SPEM SUCCESSUS ALIT*

17 January 2015, 11:26 AM	#4
thomaspp "TRF" Member Join Date: Dec 2010 Location: N/A Posts: 11,136	And shorter wait times on getting references! __________________ Instagram: @watches_anonymous

17 January 2015, 10:32 PM	#13
Racerdj 2024 Pledge Member Join Date: Apr 2013 Location: Indianapolis Watch: Patek-Philippe Posts: 16,832	Looks like a bucket list 'visit'! __________________ Rolex and Patek Philippe

17 January 2015, 09:55 AM	#2
locutus49 Banned Join Date: May 2014 Real Name: John Location: La Jolla, CA Watch: Platona Posts: 12,194	Wow. They must be doing okay financially.

17 January 2015, 11:29 AM	#5
subtona "TRF" Member Join Date: Jan 2011 Real Name: gus Location: East Coast Watch: APK & sometimes Y Posts: 26,040	Going more mainstream ? Could it mean Less rarity and collectibility moving forward? Or more of a marketing machine like for instance Panerai with over abundance and rehashing of SE models? Of course I hope not but there has to be a big new plan for increased revenue to pay for this new space.

17 January 2015, 01:01 PM	#8
autohorology "TRF" Member Join Date: Jul 2014 Real Name: Brian Location: Huntington Beach Watch: Daytona Posts: 889	I think they know they have a service time problem and it's probably on their agenda to fix. No one should have to wait a year for their prized possession to return from Geneva. That's a substantial amount of life lost without it on your wrist..

17 January 2015, 01:05 PM	#9
benlee "TRF" Member Join Date: Dec 2012 Real Name: Ben Location: SIN & JKT Watch: Rolex, AP, PP Posts: 9,873	If building them to improve service turnaround, that's very welcome. But if building it to ram up production, then... it's a very different story. But I guess not, at least while PP still belong to the Sterns family.

17 January 2015, 09:16 PM	#10
RussW "TRF" Member Join Date: Apr 2012 Location: England Watch: 5990 Posts: 3,341	I'm seeing this as Patek investing in their future, and assuring their independence for the foreseeable future. By paying for this now they won't be reliant on anyone for funding if there are any bad times ahead.

18 January 2015, 12:26 AM	#14
texex91 "TRF" Member Join Date: May 2007 Location: . Posts: 17,898	Two words--price increase

18 January 2015, 01:05 AM	#16
kilyung 2024 Pledge Member Join Date: Jul 2009 Location: Cave Watch: Sundial Posts: 33,873	CHF change + new HQ =

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