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Kadhytia · 17 February 2015, 12:00 AM

Quote:

Originally Posted by benlee

That's an interesting perspective. In order for demand to keep up, there must be more and more wealthy people that can afford and want to buy a PP at the price PP wants to sell. Or prices must fall to drive demand which is what is happening.

Out of the 55,000 pieces, about 10,000 are ladies quartz? That still leaves 45,000 pieces for mechanical pieces in production which is more than AP, Lange and VC combined if I am not wrong.

I am afraid that the reality of the younger affluent generations are shying away from Patek. Aiming their collection towards Richard Mille, MB&F, and AP ROOs.

scrappy · 17 February 2015, 12:08 AM

Quote:

Originally Posted by Kadhytia

I am afraid that the reality of the younger affluent generations are shying away from Patek. Aiming their collection towards Richard Mille, MB&F, and AP ROOs.

I agree with this. The question is - what's Patek going to do about it? The 5960/1a is supposed to be sporty and appeal to a younger client, but I'm pretty sure many would still prefer an AP or RM. Perhaps their preferences are different in Asia and Europe?

benlee · 17 February 2015, 12:10 AM

Quote:

Originally Posted by scrappy

I agree with this. The question is - what's Patek going to do about it? The 5960/1a is supposed to be sporty and appeal to a younger client, but I'm pretty sure many would still prefer an AP or RM. Perhaps their preferences are different in Asia and Europe?

In Asia, it's AP / PP and to a certain extent RM depending on age. They usually start with a AP ROO and when they gets older ( and richer ) then gradually move to Patek and sometimes RM. Patek Nautilus is very popular and much desired over here. At least that's the impression I got.

Kadhytia · 17 February 2015, 12:29 AM

Noting the classical approach on Patek's advertisement materials, I figure they should at least target the younger generation. I dont mean product placement, but to diversify the media a little.

jon_jon · 17 February 2015, 02:17 AM

Quote:

Originally Posted by benlee

That's an interesting perspective. In order for demand to keep up, there must be more and more wealthy people that can afford and want to buy a PP at the price PP wants to sell. Or prices must fall to drive demand which is what is happening.

Out of the 55,000 pieces, about 10,000 are ladies quartz? That still leaves 45,000 pieces for mechanical pieces in production which is more than AP, Lange and VC combined if I am not wrong.

I believe a growing number of wealthy Chinese are buying Patek watches more than ever. Compared to just a few years ago, more ADs around the world are hiring Chinese speaking sales people to cater to this growing group of collectors.

jenniferjanef · 17 February 2015, 07:21 PM

Quote:

Originally Posted by Kadhytia

I am afraid that the reality of the younger affluent generations are shying away from Patek. Aiming their collection towards Richard Mille, MB&F, and AP ROOs.

Yeah.. Not sure about MB&F, this is one of those few brands that I rather buy pre-owned than brand new. Saw too many preowned in absolutely MINT condition at more than 50% off retail yet no buyer for them! ...

I bought my RM33 brand new from boutique and is the most comfortble watch I own. Very stealthy too.

to RM.

James

tom2517 · 17 February 2015, 07:47 PM

Quote:

Originally Posted by jenniferjanef

Yeah.. Not sure about MB&F, this is one of those few brands that I rather buy pre-owned than brand new. Saw too many preowned in absolutely MINT condition at more than 50% off retail yet no buyer for them! ...

I bought my RM33 brand new from boutique and is the most comfortble watch I own. Very stealthy too.

to RM.

James

That's the problem with indies, save for a few most don't hold values well, that's one of the biggest reason people don't buy indies.

jenniferjanef · 17 February 2015, 09:32 PM

Quote:

Originally Posted by tom2517

That's the problem with indies, save for a few most don't hold values well, that's one of the biggest reason people don't buy indies.

UR-210 my favorite urwerk.. Tried on the rose gold version.. Didn't close the deal cos Jane can't wear the watch comfortably.. I share my watches with my mrs so I only buy watches that she can wear comfortably too. Great wrist shot Tom! Thank you for sharing!

Best wishes to you on the coming CNY! 恭贺新禧！吉祥如意！
James

Passionata · 17 February 2015, 09:51 PM

Quote:

Originally Posted by jenniferjanef

UR-210 my favorite urwerk.. Tried on the rose gold version.. Didn't close the deal cos Jane can't wear the watch comfortably.. I share my watches with my mrs so I only buy watches that she can wear comfortably too. Great wrist shot Tom! Thank you for sharing!

Best wishes to you on the coming CNY! 恭贺新禧！吉祥如意！
James

Do you ?! How do they look ?Can t find such a scratched piece in my collection-incl. never polished vintage- as my wife s year old DJ

tom2517 · 17 February 2015, 11:08 PM

Quote:

Originally Posted by jenniferjanef

UR-210 my favorite urwerk.. Tried on the rose gold version.. Didn't close the deal cos Jane can't wear the watch comfortably.. I share my watches with my mrs so I only buy watches that she can wear comfortably too. Great wrist shot Tom! Thank you for sharing!

Best wishes to you on the coming CNY! 恭贺新禧！吉祥如意！
James

Thanks James!

texex91 · 17 February 2015, 11:43 PM

Quote:

Originally Posted by jenniferjanef

I bought my RM33 brand new from boutique and is the most comfortble watch I own. Very stealthy too.

to RM.

James

lmcgbaj · 18 February 2015, 01:24 AM

Quote:

Originally Posted by thomaspp

This makes it sound Patek may very well drop prices in the US by another smaller amount later in the year.... Yes I am happy with the decrease as I will save a couple grand on my 5711 this year. But this makes me a little nervous about buying a complicated Patek later this year (which has also been in the plans)......

I agree with you. I feel the same way. I have one incoming in two week but going for seconds is a bit scary. Maybe I should wait for end of year.

Cheers,
George

lmcgbaj · 18 February 2015, 01:37 AM

Quote:

Originally Posted by HL65

Ben and the 5205R like yours with white dial is also a gorgeous reference and not a lot around either. In fact it is more legible than the hard to read black dial so I can see why one would prefer it. As I have said all along it isn't as if they are increasing production so those pieces that have been hard to source will stay hard to source... :

I agree. The 5205 that Ben has is simply stunning. So crisp and clean and very very easy to read.

conkers · 18 February 2015, 11:51 AM

I share my Hublot Tourbillon with the Mrs as the strap is so easy to adjust but certainly none of the others although I do see her looking wistfully at my RMs from time to time!

Makau · 18 February 2015, 12:49 PM

Quote:

Originally Posted by HL65

Well 5131 now discontinued so off the table for currents. Clearly the ones with greatest demand are ones with smallest production and those are as follows regardless if you like them or not:

5980/1R and R, 5711, 5235, 5990, 5205R black, 5960/1A, 5167, 5164, Anniversary pieces, etc. Again as Myo and I have stated more serious collectors remain focused on earlier and higher demand retired pieces. I again think the market for vintage and those pieces will continue to grow. There is so much information out there for us all so doing homework very important!

Main thing is to buy what you love and will enjoy regardless of anything else!

Fantastic info. Thanks Ken. Your knowledge and insight are huge assets to the forum.

Kadhytia · 1 March 2015, 02:46 AM

Walked in to an AD they said 9% not 7% decrease. I am confused now.

HL65 · 1 March 2015, 03:19 AM

Quote:

Originally Posted by Kadhytia

Walked in to an AD they said 9% not 7% decrease. I am confused now.

They are wrong it is 7% without a doubt no need to be confused they are.

Kadhytia · 1 March 2015, 04:10 AM

Quote:

Originally Posted by HL65

They are wrong it is 7% without a doubt no need to be confused they are.

Thanks for the clarification again.

irish john · 1 March 2015, 07:14 AM

Was asking my local ,yesterday ,,, no price reduction whatsoever ,,, in fact i think the price has risen , a 5167
€18700 ,,,,,,,
As for a 5711 i asked for one in 3 years time , and i was told he would keep them for regular customers
So basically he told me he would never sell one to me !!!!!

HL65 · 1 March 2015, 07:17 AM

Quote:

Originally Posted by irish john

Was asking my local ,yesterday ,,, no price reduction whatsoever ,,, in fact i think the price has risen , a 5167
€18700 ,,,,,,,
As for a 5711 i asked for one in 3 years time , and i was told he would keep them for regular customers
So basically he told me he would never sell one to me !!!!!

Europe had 7% price increase. Go back and read earlier in thread and you can see which countries had increase and decrease.

Flex368 · 1 March 2015, 07:44 PM

Quote:

Originally Posted by irish john

Was asking my local ,yesterday ,,, no price reduction whatsoever ,,, in fact i think the price has risen , a 5167
€18700

The list price after the recent increase for a 5167 in Germany is now 16410 EUR, my AD confirmed this a few days ago. Maybe your AD was talking about the bracelet version?

BillA · 2 March 2015, 07:19 AM

AD in NJ confirmed to me that the 5167a with rubber strap dropped from $20,300 to $18,900. He told that Patek did not give him any price adjustment on his inventory. He was willing to discount.

HL65 · 2 March 2015, 08:01 AM

Quote:

Originally Posted by BillA

AD in NJ confirmed to me that the 5167a with rubber strap dropped from $20,300 to $18,900. He told that Patek did not give him any price adjustment on his inventory. He was willing to discount.

Inventory bought and paid for and they took 7% hit here as well. Problem is many AD's have glut of tough to move pieces and they need to move them through to end user. As I say Patek is a tale of two cities and unfortunately for most AD's they have lots of the wrong ones. Tough pieces to get will stay tough pieces to get and hopefully Patek can move this glut of watches and get back to business. I feel they are and have been off target so hopefully they get back on track. I am afraid though that the very best days are behind and not ahead.

RussW · 2 March 2015, 08:17 AM

Quote:

Originally Posted by HL65

Inventory bought and paid for and they took 7% hit here as well. Problem is many AD's have glut of tough to move pieces and they need to move them through to end user. As I say Patek is a tale of two cities and unfortunately for most AD's they have lots of the wrong ones. Tough pieces to get will stay tough pieces to get and hopefully Patek can move this glut of watches and get back to business. I feel they are and have been off target so hopefully they get back on track. I am afraid though that the very best days are behind and not ahead.

I think Patek are still producing some great watches 5131 (until recently), 5711, 5980/1r, 5235 and 5960 to name a few. I hear you though re the 5970 and 5070 and I do hope Patek can capture the hearts and minds of big collectors again in the future.

HL65 · 2 March 2015, 08:31 AM

Quote:

Originally Posted by RussW

I think Patek are still producing some great watches 5131 (until recently), 5711, 5980/1r, 5235 and 5960 to name a few. I hear you though re the 5970 and 5070 and I do hope Patek can capture the hearts and minds of big collectors again in the future.

You just named all ones from the tale of the right city.

Lots of misses though and I think the 175th for most part spoke to that. Just one guys opinion but what do I know.

RussW · 2 March 2015, 08:43 AM

Quote:

Originally Posted by HL65

You just named all ones from the tale of the right city.

Lots of misses though and I think the 175th for most part spoke to that. Just one guys opinion but what do I know.

Also all ones (apart from 5131) from your amazing collection

I've been meaning to ask - how do you view the 5990? You've had it a few months but you don't seem to talk about it.

HL65 · 2 March 2015, 09:02 AM

Quote:

Originally Posted by RussW

Also all ones (apart from 5131) from your amazing collection

I've been meaning to ask - how do you view the 5990? You've had it a few months but you don't seem to talk about it.

Nice watch but when I put on SS Nautilus I always reach for the 5711. I have my go to watches and they vary depending on my taste. I usually like wearing 5970, 5070 and now 5110 to work as I tend to dress up and they just work. Thanks too my friend!

mailman · 2 March 2015, 11:35 AM

Quote:

Originally Posted by HL65

Inventory bought and paid for and they took 7% hit here as well. Problem is many AD's have glut of tough to move pieces and they need to move them through to end user. As I say Patek is a tale of two cities and unfortunately for most AD's they have lots of the wrong ones. Tough pieces to get will stay tough pieces to get and hopefully Patek can move this glut of watches and get back to business. I feel they are and have been off target so hopefully they get back on track. I am afraid though that the very best days are behind and not ahead.

Are AD's required to keep a certain amount on hand in inventory? Would that be a reason for hard to move pieces, other than just not any interest in them?

HL65 · 2 March 2015, 12:19 PM

Quote:

Originally Posted by mailman

Are AD's required to keep a certain amount on hand in inventory? Would that be a reason for hard to move pieces, other than just not any interest in them?

They have to take the bad to get the good! So more inventory they take better pieces they will get my friend.

mailman · 2 March 2015, 12:26 PM

Quote:

Originally Posted by HL65

They have to take the bad to get the good! So more inventory they take better pieces they will get my friend.

Makes sense

17 February 2015, 12:29 AM	#364
Kadhytia "TRF" Member Join Date: Jul 2013 Location: SoCal & Jakarta Watch: ROLEX, AP, and PP Posts: 916	Noting the classical approach on Patek's advertisement materials, I figure they should at least target the younger generation. I dont mean product placement, but to diversify the media a little.

18 February 2015, 11:51 AM	#374
conkers "TRF" Member Join Date: Feb 2013 Real Name: Roger Location: Hong Kong Watch: Too many! Posts: 6,012	I share my Hublot Tourbillon with the Mrs as the strap is so easy to adjust but certainly none of the others although I do see her looking wistfully at my RMs from time to time!

1 March 2015, 02:46 AM	#376
Kadhytia "TRF" Member Join Date: Jul 2013 Location: SoCal & Jakarta Watch: ROLEX, AP, and PP Posts: 916	Walked in to an AD they said 9% not 7% decrease. I am confused now.

1 March 2015, 07:14 AM	#379
irish john "TRF" Member Join Date: Jun 2014 Real Name: john Location: ireland Watch: Rolex ,PP Posts: 701	Was asking my local ,yesterday ,,, no price reduction whatsoever ,,, in fact i think the price has risen , a 5167 €18700 ,,,,,,, As for a 5711 i asked for one in 3 years time , and i was told he would keep them for regular customers So basically he told me he would never sell one to me !!!!!

2 March 2015, 07:19 AM	#382
BillA 2024 Pledge Member Join Date: Mar 2007 Location: US Posts: 3,665	AD in NJ confirmed to me that the 5167a with rubber strap dropped from $20,300 to $18,900. He told that Patek did not give him any price adjustment on his inventory. He was willing to discount.

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