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23 February 2020, 04:33 AM | #1 |
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5970P popularity during production
How popular was the 5970P while it was produced and available at ADs?
Was it like the 5270P in that it is considered a special/beautiful piece by many, but not selling aggressively? Or was it super popular and desirable when in production? Anyone here with experience buying a 5970P new from an AD? |
23 February 2020, 04:57 AM | #2 |
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5970P popularity during production
Way different to a 5270p. Most ordered sold very quickly and if there were any left un allocated sold instantly after being discontinued (dont think there were really any sitting). The application pieces now really only apply to enamel worldtime, minuet repeaters, tourbillion and the grandmaster chime. Split seconds & PCC are depending on region, just supplied to AD’s as normal
I think the 5270p would sell better if it was a true salmon colour as when i saw it, looked more golden. The blackened gold numerals & hands probably play some part also as its more sporty than traditional My AD received 2-3 5270p’s so far so you can assume there will be approximately around 1,000 of them if not more. 5970p is around the 500 mark so Patek these days have been overproducing on the grand comps Sent from my iPhone using Tapatalk |
23 February 2020, 06:31 AM | #3 |
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Patek had limited number of ebauches from Lemania that they could use to produce the 5970, 5070, 5004, etc. So production numbers were limited. After Patek designed their 100% in-house chrono movement, their production numbers ramped up for the 5270, 5170 and 5204.
At the time of 5970P, they were quite in demand, partly due to low supply and it was produced for only a short time period. The previous 3970P used the same movement as the 5970P, but in a smaller case. It was produced for a longer time period as well. |
23 February 2020, 07:11 AM | #4 |
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Do you guys/ladies think that the 5270P will sell out immediately when they announce their discontinuation?
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23 February 2020, 08:17 AM | #5 |
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Probably not. Introduced in 2018 and has not been declared to be discontinued for 2020 so at the minimum 3 yr production. Great for value for a platinum modern PCC with a very nice case design that's larger than the 5970 which is more like a 39mm on the wrist.
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23 February 2020, 10:06 AM | #6 |
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5270 has never ever really sold well. And market values for it appear to be typically worse than other >$100k Patek grand complications.
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23 February 2020, 11:04 AM | #7 |
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What is the going grey market price for a 5270p in the US? Swiss tax free is 155 so presumably well below 150 will be possible in due course?
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23 February 2020, 01:07 PM | #8 | |
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I saw a listing around that from watches of Mayfair I think in HK? The 5270/1R going for cheap too. Much like the modern Daytona it’s hard to ignore the sub dials not sitting at 9-3. I have a picture of a 2499 in my home office and my wife goes look there’s daddy’s watch. I said yes mommy I’ll take one for my birthday. Get your checkbook. Hard to ignore how much better their designs get the further back you go.
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23 February 2020, 01:30 PM | #9 | |
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Thanks yes in the grey market for sure but I was asking from an AD perspective.
Agree with your comments on designs completely. Quote:
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23 February 2020, 02:38 PM | #10 |
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Can't afford either but if I can, surely the 5270p. It's one of the very few watches that felt and looked special when I handled it. A truly sublime timepiece.
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23 February 2020, 03:16 PM | #11 |
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5970s were launched during a time where dress watches were still popular and before the big SS Sports watch hype. 5270s long term value remain to be seen although I heard they are selling poorly, both retail and on grey market .Something not so right if one can see a 5270P on display at PP ADs.
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23 February 2020, 10:36 PM | #12 |
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23 February 2020, 11:11 PM | #13 |
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23 February 2020, 11:45 PM | #14 |
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I don't see anything wrong with it being in a case. Thats like saying no Mercedes dealer should ever have an s63 in the showroom. This is pateks flagship grand comp but it's not some obscure rarity.
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24 February 2020, 12:43 AM | #15 |
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Whole different market back then during the 5970 production. These were the grails back then. SS sports were just sitting unsold. The platinum reference was probably completely pre-sold. The yellow gold 5970 is the most rare of the metals.
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24 February 2020, 12:47 AM | #16 | |
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24 February 2020, 02:43 PM | #17 |
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I think the price is always a thing that we should not forget...... but only when its in production.
The problem with the 5270P is, that its very difficut to make photos where you can see how beautiful that piece is. I think its the same thing as with the 5170P, during it was in production nobody want that piece, now it will be sold soon over the list price because its one of the most beautiful chronographs. The 5270P is different but one of the most interesting calendars from Patek. Longer you have it on the wrist more you like it, i never believe... but that's true. |
24 February 2020, 08:27 PM | #18 |
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I think that the comparative (financial) underperformance of the 5270 VS 5970 has less to do with modern tastes changing or the beauty of the respective pieces.
It's to do with over production. They've built too many PCC's. They were never in the window. They should never be in the window. They were grails. They should still be grails. As an owner of a 5070 and a 5170, I can categorically tell you, the new pieces are in many cases sensationally beautiful (especially the 5170p) with a movement to match. But if you build orders of magnitude more then they won't be as special. An F355 in 1997 was a mind blowing sight in London. 488's are left out on the street all year round with barely a glance. |
24 February 2020, 09:38 PM | #19 | |
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24 February 2020, 11:37 PM | #20 |
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Problem with the P is the G.
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24 February 2020, 11:50 PM | #21 | |
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I secretly wish that the appearance of the abundance was due to no interest, not over production... I love the 5270 series. The world isn’t ready for it yet. Haha |
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25 February 2020, 12:01 AM | #22 | |
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25 February 2020, 12:15 AM | #23 |
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Tim just reviewed one for Watchbox this morning. Nice watch, I don't know what Tim is asking but is probably the market price.
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25 February 2020, 12:42 AM | #24 |
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In Euro it’s around 80k+
In USD it’s around 90k+ The thing is when it was in production you was able to pick it up for 65k€ and it was on Stock. Now the most available pieces are all over 80k€ Actually it’s nearly a year discounted and the price is still climbing.... all other hyped watches loose a lot, in the last 5 month. I think the 5270P with the salomon dial is a typical PP, but it’s very very heavy to make correct photos how the watch looks in real. It’s the same thing like with the 5170P.... 2018 ... (90% from the photos where ) |
28 February 2020, 02:42 AM | #25 |
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Production for Patek 5970P was limited and most sort after because that was the last with the Lemenia movement. Then it was replaced with Patek’s own movement in Patek 5270P now with the salmon dial. Like Rolex’ Daytona withe the zenith movement it is more sort after than Rolex‘S own movement in the current model.
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14 April 2024, 02:55 PM | #26 |
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Good morning to all, I have been looking around for a 5970P and it seems that they are all priced above 300k now. Are people actually transacting at these values? I know that compared to the 5980/1Rs and the 5740s trading at not so far range, it seems still « logical », however the 5970s have been stable for a long while and seems recently repriced upwards (so did 3970s by a lot)
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14 April 2024, 07:21 PM | #27 | |
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As a sidenote, I think that, due to its lower production (nobody knows but that should be close from the truth) vs number of people being interested by watches, the 5970P (last Lemania-based Chrono-QP) would, like the 5070P, remain quite in demand. |
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14 April 2024, 10:29 PM | #28 |
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Saw one listed at 245k on moda a couple months back. Most online are listed at 290-300k. Based on this info I suspect market price is somewhere in between. 250-275
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15 April 2024, 07:05 AM | #29 |
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Here is one under 300k cool watch
https://www.europeanwatch.com/watch/...Pla-51643.html Sent from my iPhone using Tapatalk |
22 April 2024, 12:27 AM | #30 |
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5970P popularity during production
Thank you all, will update if I proceed. I had a chance to meet someone this week with a 5004, tough choice between a 5970P and 5004P
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