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21 October 2014, 09:10 AM | #1 |
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Guidance, 5131
A gold 5131 is my grail. I'm ready to start working on getting one.
I intend to keep it until it's handed down. I works for me at retail, but on the secondary market I can't touch it. I know it's an application piece and something I can't just walk in and purchase. So my questions are. How do I go about being considered a viable option when I submit an application? How many watches does one normally have to purchase prior to being accepted for a 5131? Is it completely out of the realm of possibility to be accepted with the 5131 being the first Patek purchase? Generally what do I need to do to put myself in a position to get a 5131 at retail. I'm looking at this as a multi year process for myself. Thank you. |
21 October 2014, 10:09 AM | #2 |
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Do you have an existing relationship with a PP dealer? If you do, then they will give you a sense of likelihood and timing. If you don't it will be very arduous I expect and I wouldn't know where to start! Some people have been waiting 5 years plus and still no sign.
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21 October 2014, 10:12 AM | #3 | |
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To my knowledge these allocations are very hard to come by for big ADs, and they in turn have a long list of established clients beating down the doors for one. Getting a 5131 allocation as your first patek sounds highly improbable but I applaud your decisiveness and wish you luck in finding one Good luck Jason |
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21 October 2014, 10:25 AM | #4 |
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It isn't an application piece, but the limited production makes it behave as such.
You need an AD that is willing to fight for you. They have to call henri Stern and beg constantly. If you don't have that type of relationship with your AD, you have no chance.
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21 October 2014, 10:32 AM | #5 |
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I fully expect to need to establish a relationship with an AD. To include the purchase of one or more watches. Which is actually a cheaper way to go than going through my favorite trusted seller, who is able to get one now.
Ideal would be to just get on a waiting list somehow. Next best would be to buy a 5227 and as part of the deal have an application submitted (which is my hope). My intent is to purchase a 5227 as my first Patek anyway. I had started the process with a trusted seller, then decided maybe I'm better off going to an AD if my goal is a 5131. My hope is that I don't need to buy a pile of watches just to get on a list, because that unfortunately doesn't work for me financially. Just trying to sort it all out. I'm afraid it will be untouchable for me. Just trying to get a feel for it before I dip my toe in the Patek water. |
21 October 2014, 10:33 AM | #6 | |
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I looked up all the U.S. dealers. Maybe I can phone and beg the guy in Fargo. |
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21 October 2014, 11:12 AM | #7 | |
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I've had employees of Patek Boutiques, within large well known watch stores, try and sell me their allocations for over $170k. It gets pretty slimy when it comes to some watches...
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21 October 2014, 11:14 AM | #8 |
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all you have to do is direct the Patek AD to this thread and they will know you are the real deal, resulting in them happily handing one over to you:)
seriously, i would be guided by the AD, don't assume it is a no without sitting down at the AD and making your intentions known. you never know. |
21 October 2014, 12:22 PM | #9 | |
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Of course on the application, you write down all the Patek watches you own, so if someone writes down none, I doubt if the application will be approved by Patek. I don't think Henri Stern determines allocation for the US market. AFAIK, Geneva determines the allocation of these watches directly. |
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21 October 2014, 02:15 PM | #10 | |
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I feel a little like an intruder when it comes to the Patek club. I have relatively modest means, but want this watch. Just looking for some input here first. Thank you all. |
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21 October 2014, 03:14 PM | #11 | |
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I am sorry but you are incorrect. The 5131 is an application piece. I know as I had to complete an application about 14 months before taking delivery of mine. The AD has a big influence with HSWA. HSWA will defer to the judgement of the AD as to the legitimacy of the buyer, i.e. not a flipper. |
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21 October 2014, 04:43 PM | #12 |
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I posted this question to the PIC of Patek Geneva when I visited their boutique back in July this year. Contrary to common understanding, you do not really have to be a very big buyer or own many pieces in order to be eligible to apply for an Application pieces. A good track record consistently with a single POS ( ie AD ) and no past records of flipping are key considerations for Patek when deciding who to award the limited application pieces.
An AD that will vouch for you will help a lot to speed up the process. Still, for this particular model, due to such high demand and limited production, a waiting period of 3 years or longer is not uncommon. |
22 October 2014, 12:20 AM | #13 | |
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The 5131 is indeed an application piece. If you want to have a real shot at the watch here is how it goes. #1 you need to establish a relationship with a high volume Patek AD. If you go to an AD that has a very limited amount of watches they will have very little priority getting one from patek. #2 you need to purchase Several watches I would say 3 minimum to get on the list and have the AD push Patek for you. Don't forget once you are on the list there will be others in front of you. If you are at the top of the list general wait is 1-2.5yrs depending on your dealers "pull" #3 pray As far as getting one on your first go around trust me it will not happen at retail |
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22 October 2014, 01:15 AM | #14 |
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yea, good luck without referring a 1M plus, plus buying about 300-500K for yourself
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22 October 2014, 01:47 AM | #15 | |
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If this is true, better to pay the premium on the grey market, and go back to Plan A for the 5227. For a guy not routinely purchasing from an AD at retail, I don't see the point. That is, unless you really really like the increased odds you'll land an application piece. |
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22 October 2014, 02:35 AM | #16 | |
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Thank you. I loved your thread on your visit to the boutique. Do you think it would be beneficial to buy from the Geneva boutique as opposed to a US dealer if I had the ability to get there very inexpensively? Would it increase my chances? |
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22 October 2014, 03:06 AM | #17 |
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Are you reading the posts at all, or selectively ignoring parts and entire posts?
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22 October 2014, 03:56 AM | #18 | |
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I'm not at all trying to be dense, but I asked if it would be better to deal with a boutique. Ben stated that his question at a boutique and the answer he received indicated one didn't need to necessarily be a high volume buyer to have an application accepted. I made an assumption that a Patek Boutique has a closer relationship than an AD with the factory. So my thinking is I can fly for free, maybe I would be beneficial to start a purchase history with a boutique as opposed to a US dealer. I am prepared to need to buy, which I want anyway, two watches. I'm simply trying to put myself in the best position to also have an application accepted for a 5131. If that's simply not possible I can live with that. Maybe I missed something in the thread. I am not just looking for information that confirms what I want to hear. |
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22 October 2014, 04:00 AM | #19 |
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22 October 2014, 04:28 AM | #20 |
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Ain't gonna happen pal. Sorry to be blunt. But sometimes people need to hear the truth rather than political correct BS. Secondary is your only option, unless you start buying a bunch of Patek's from your AD whom does not have a long list.
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22 October 2014, 04:44 AM | #21 |
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x2
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22 October 2014, 04:50 AM | #22 |
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22 October 2014, 06:19 AM | #23 |
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Application piece is a myth sometimes. You might be given a chance to put your name on a list but there's no guarantee that an AD will actually submit your application. Even if it does, you might be the 30th person. To be considered among the top lists, like many above said, you have to gain a long established relationship with a spectacular past purchase. These kind of watches have to be pushed and frequently inquired by someone with high regards.
You never know when your turn is about to be given, this watch might be announced discontinuation. Good luck, |
22 October 2014, 07:16 AM | #24 |
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Guidance, 5131
All can say is that this is all good advice but don't give up. Go chase it. If you don't ask, you don't get. 😀
Barring that, become friends with Thierry Stern. LOL. Sent from my iPhone using Tapatalk |
22 October 2014, 07:52 AM | #25 |
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X100! It is an application piece and I have spent plenty at my AD before my application was submitted and approved! Not one or two watches but many and expensive ones at that! It takes a long while and based on what you have posted you have no chance...Sorry but that is the truth. Your best bet is and only true chance of acquiring one is in secondary market and for substantial premium. That is why the premium is there as ones chances to get one at AD slim.
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22 October 2014, 08:28 AM | #26 | |
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It's also not really a suprise. I'll look forward to drooling over the pictures you will post Ken. |
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22 October 2014, 08:32 AM | #27 |
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22 October 2014, 01:08 PM | #28 |
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your best bet is researching early 70's films starring Linda Lovelace, then make the trip to Geneva
translation: how far are u willing to go? |
22 October 2014, 05:08 PM | #29 |
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23 October 2014, 02:11 AM | #30 |
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Amazing watch. Thank you. Sent from my iPhone using Tapatalk
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