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Patek Philippe

Congratulations Mark,

 

your 5712 is clearly your First Only Watch. Just 15 to go...


Indeed, 5370P is a fantastic watch - it has everything. I have ordered mine and on Thursday over the dinner with Patek's representative I will bargain about the delivery time. 

These London Editions are a very specific case...

There has been a lot of discussion about these including the pricing. First of all, these watches will not influence to the "values" of older 5070 - the dials are different. In YG, RG and WG the differences are clear. In P the old reference is 5070P-001 while the London Edition is 5070P-013. The dial is a bit darker blue and more sun bursted. Anyhow, both the WG and P are fantastic watches but if I would have the opportunity to acquire something, which one would I take? Naturally both... But...

What comes to the pricing, I understand Patek 100%. The watches are priced according to the latest auction results. Still, they have a special dial and I am quite sure that the happy buyers will have their invested funds relatively safe. Furthermore, the last movements and cases Patek can price as they want because they happened to be the owners of the same.

In my daily business I operate a tanker fleet. I have i.e. on time charter a VLCC costing $ 33,000 per day. At the moment the spot market is giving around $ 100,000 per day. Should I take it because it's the market level or should I say "it's not fair, it's too much". Naturally I take what I can! The same applies to Patek Philippe: they try to sell their products with the highest possible prices the market tolerates. If those prices are too high for me, it does not mean that the pricing would be wrong.

The goal of each and every company is to maximise their profits both on short and long run. And we live in an environment called Market Economy.

Right or wrong?

Best, Kari

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