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Patek Philippe

Double sealed 5575G

 

It is quite obvious the AD and the collector who originally received the 175th anniversary watch both knew the watch was going to be re-sold.  The fact it was still double sealed increased the auction sale price of the watch that much more.  I am sure this was not the first time the collector who was allocated this watch sold it to the secondary market.

As somebody mentioned above, supply and demand in a free market will often the price of a product.  However with a production number as high as 1300, I am surprised it doubled the original sales price.  This is getting into the 5131 enamel dial territory price wise.  Hopefully the watch landed in the hands of someone who will truly appreciate the watch, rather than another speculator, waiting for another opportunity to re-sell it at another auction.

 

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17 Comments view entire thread 

Patek 5575G; recent auction result

 
By: abe : April 12th, 2015-11:56
Dear all; It was very interesting to note that at the recently held Sotheby's auction in Hong Kong, a Patek 5575 doubled its pre-sale estimate and sold at a whopping US$129,000!! any thoughts? I am not even sure what the retail price was at introduction. ... 

I guess that Patek Philippe will always be a brand which

 
By: Mark in Paris : April 12th, 2015-14:18
arouses much interest, regarding its legacy or its image etc... This brings unavoidably speculation too. When considering such events as the 175th anniversary, the brand can't do much to protect itself and other collectors who could not purchase such watc... 

Be careful..

 
By: jonrus : April 12th, 2015-17:28
Sometimes, PP will bid and buy them back, just to know who it is that's reselling. I got that from a PP higher up on a dinner conversation.

Patek Bought the Watch?

 
By: patekova : April 13th, 2015-08:03
I don't think so. While it is true Patek may buy a watch on the secondary market for the reason stated, there is absolutely no need to do this at auction. All they need to do is examine the watch/Certificate for the movement # and they have all the inform... 

Mission accomplished by a 175th anniversary marketing piece

 
By: COUNT DE MONET : April 13th, 2015-02:50
Regardless whether the person who had the successful bid was Patek themselves or a private collector: the 175th anniversary marketing piece has delivered. What amazes me is that public production figures of 1.200 can attract such a craze about this piece.... 

Hi Moritz, "Mission accomplished by a 175th anniversary marketing piece"

 
By: GLau : April 13th, 2015-04:46
Based on your interest in the 5975, there should be another mission - the successful auction of a 5975 after you have gotten your allocation :-) Cheers, Gordon

Hi Gordon: "From my dead, cold hands!" as Charlton Heston is saying

 
By: COUNT DE MONET : April 13th, 2015-06:59
I am not sure as how your comment is to be taken but if you are saying that I would auction my 5975 than you are mistaken. It is a kind of sporty challenge for me to get this limited edition from Patek, a trophy, my personal "precious" :-) as Gollum is sa... 

Hi Moritz, my comment was NOT meant to say that...

 
By: GLau : April 13th, 2015-08:05
you would auction off your 5975 Rather, it was meant to 1) wish you luck in getting an allocation of the 5975, and 2) thereafter there would be an auction in which a 5975 (not yours) was sold successfully like the 5575. Hope this post clarifies for you (a... 

wow

 
By: benzng : April 13th, 2015-08:59
my AD informed me, mine is on its way. I don't know if I will/can still get it. Benz

Supply and demand.

 
By: ImranLondon : April 13th, 2015-10:55
Unfortunately the 175th was always gouing to be a problem. Many AD's did not get any and teh1300, were over subscribed. BUT, I can assure you of one thing, the first owner and possibly the AD of that client, will never get another Patek limited edition. A... 

Double sealed 5575G

 
By: jon_jon : April 14th, 2015-19:44
It is quite obvious the AD and the collector who originally received the 175th anniversary watch both knew the watch was going to be re-sold. The fact it was still double sealed increased the auction sale price of the watch that much more. I am sure this ...