Patek Philippe

Of all the Phillips auction results, this one for the 5370p black dial is most perplexing. This watch sold for 473k USD at Phillips. On the open grey market, it sells for 175k USD. I know we’re not meant to talk about prices on this forum, but this is suc...  

Or else... It allows them to justify high new retail prices... who knows… Best Ø

Though the many, many headlines we'll be seeing is excellent marketing as we drive into the obligatory December mass-consumption event.

That it makes me very suspicious

I don't think Auction Houses can be trusted. My opinion.

And the press touting those sky high charity prices don't help the reality of it all.

+1

If it‘s too good to be true, it‘s usually not true. Will be interesting to see other pre christmas auction results and the reaction of the second hand market.

Seems like dealers or brands are artificially increasing prices to justify higher asks.

It would seem like child play for a seller and a buyer to act together in order to inflate a result. What guardrails exist to prevent excess proceeds from being redistributed after the sale? When both buyers and sellers can benefit from high results that ... 

This price is so far outside the realm of the normal price that I can't see how it benefits anyone.

This is what I said about guardrails to prevent proceeds from being redistributed afterwards

If the scheme was between the buyer and the seller, that's a zero sum game. One will come out ahead, and one will come out behind. Especially when you take into consideration the 27% buyer's premium.

Although dealers I talked to about this result believe it is bogus and aren’t changing their asks

Again, who knows. But I can certainly envision it.

I think there are a ton of examples of this in the auction. My guess is brands bidding up their own results, which many have said they do and everyone knows is a well established thing. It's a relatively cheap way to justify your MSRP.

...I have a friend who owns one so he will be happy : )

...  

that's all

Not only do they now own a fabulous watch, they also own a special example of it: the most expensive 5370P ever sold!

… were also quite robust. It seems the market is recovering. I agree on the 5370, however. The price is a joke, of course.

What’s interesting is the strap shown on auction is not even factory strap…weird all around.

up into the mid 200’s. No idea why.