NW_Rich
32
Their business model
I don't have any deep insight into PP's business model, but I'd suspect the high prices on non-watch items has something to do with keeping their dealer channel happy (and profitable). I suspect most of their dealers only sell a PP watch once in a long while. While they get a great payday when that happens, it may not offset the cost of carrying such expensive items. The service side probably helps the dealer with these carrying costs. Of course, many dealers are also jewelers who love to have PP customers on their mailing list! But still, the dealer hopes the PP line is, in and of itself, at least break even.
What is Patek trying to tell me about their brand through price signals?
The recent 'Why we love Patek' threads have been interesting and certainly highlight the core attributes of the brand that us collectors love. I’m amazed that a brand like Patek can stir up such intense feelings amongst collectors and I think it’s importa...
I know have a slight headache.
All that was a little complicated for me. Nothing really harsh against PP in the end, but not sure about the message that was trying to be conveyed. Conclusion: PP's are really nice, but they don't come cheap. Did I get it right? Best regards, George
Agreed, it is overthinking...
..and for the record my experience with Patek ADs, their USA service dept, etc has been excellent. There is a saying, "Some people know the price of everything and the value of nothing." Whilst i do not feel this applies to the original poster, it seems t...
That some people
are sadists and some masochists and others are ready to look for other options Best D
I would not say you're overthinking the whole thing.
Evidently, you've had experiences which have led you to this thought which others here, may or may not have experienced. If you have been around watches for more than 12 years or so, it is very easy to realize the many changes which have taken place. I co...
To be clear - I'm not whinging about prices
I want to be clear - it's not the monetary cost that I object to per se. Economists think about prices in this way all the time - they're just looking at it slightly differently to your average customer. Think of it this way - when running a business you ...
What you are describing here is what Luxury should be.
" Personally, I miss the firm who was receptive and accommodating to a client's wishes and appreciative of the efforts of those handling their products where doing the right thing by taking care the client and maintaining the integrity of the firm had a h...
What Patek cannot control
Exchange rates. The Swiss Franc vs a basket of currencies is over-valued. While PP might have hedged currency better there are some things you just can't control. I'm sure they don't want to suffocate their markets with unreasonable pricing but what they ...
Logical points but listen to what Patek is saying...
These are all logical points from a retail standpoint. However the target audience for PP is idealised in their advertisements - let's listen to what they are saying: they say that if you are a deeply successful and a connoisseur of the finer things in li...
Excellent point.
You captured the essence of this forum. The current PP target audience (by the company) is certainly not here nor at the Patek events organized by various ADs. The latter is a good PR for the massess. PP recognizes well that whatever the price they set, t...
perhaps you're right
"their target audience is not posting, they are living their life with a PP on their wrist" Perhaps you're right - I should post less and live more! No more cattle -class for me, it's first class or nothing baby!
"target audience for PP is idealised in their advertisements"
No, that is not quite right. These are aspirational ads which create an image that the target buyer can imagine that they are a part of. The visual cues of wealth, class, status may be of the top 0.1%, but the message is "they wear these watches, and if y...
it's not the price fo the watches I'm interested in..
The price of the watches can be boiled down to supply and demand. It's the other stuff that I don't understand. Clearly I'm upset at the amount I've been quoted for a strap but this prompted me to ask why I was quoted that amount. Supply and demand doesn'...
They are saying....
1) if you can't afford me, you don't deserve me. Why not....it's a legit way to price one's products to attract only the desired customer pool. 2) if you can afford me, you should be able to afford maintaining me. Why not.....it's a legit way of making su...
Their business model
I don't have any deep insight into PP's business model, but I'd suspect the high prices on non-watch items has something to do with keeping their dealer channel happy (and profitable). I suspect most of their dealers only sell a PP watch once in a long wh...
Horo - I asked Harrison last night....
His response to my 5970R was - "Daddy, this is to regular - I want all the URWERKS Dad - yeah, just get me URWERKS in every color - when Patek makes a spaceship watch, I'll want one then, ok. Tell Mr. Patek to make a spaceship for you so you can give it t...
Now it is definate....Urwerks are the watches for the next generation, not Pateks!
Howdy mate, Harrison is a lucky kid...got a headstart and a horologically minded dad. Best, Horo
"If the client doesn't complain about the bill, you're charging too little."
Thus said an eminent attorney of my acquaintance. Patek certainly is in business to make money, so it's hard to fault them for charging as much as possible. I'm confident that they charge based on mathematical analysis: they may make more profit selling, ...