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WatchProSite|Market|Digest

Patek Philippe

Prices are a bit crazy but I pay them !!

 

I am also concerned about the bubble in watches, particulary Pateks.  They have always been expensive, but prices both new and resale continue to climb.  I do not intend to sell any of my watches, but it is nice to know that several are worth more than I paid on the secondary market.   I know that trees do not grow to the sky and that anyone who buys at today's high prices has a very low probability of seeing their watch appreciate.  I assume that the premiums in the secondary market for a few hot watches ie 5980 will evaporate in the near future as supply matches up with demand. Anytime I can buy a "hot" watch at my AD I assume that supply is finally matching demand.  With some patience I have gotten most everything I want from an AD, but the latest price increases from Patek will cause me to pause some of my purchases at least for a while.

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10 Comments view entire thread 

Crazy auction price!

 
By: happy_wis : April 10th, 2008-08:44
Latest crazy auction price.... just auctioned today in Hong Kong.... 5565A USD 65,746 (Limited Steel Calatrava) 5105P 78,085 (Limited Model) 5712G 47,236 5959P 463,689 (Split Second) 5101P 247,750 (10 Days Tourbillon) 5102G 401,992 (Sky Chart. Super Crazy...  

Is it just me...

 
By: Rob : April 10th, 2008-16:05
or did someone get a good deal on some of the pieces? Would have imagined way higher prices on the 5101P, 5013P and the Sky Moon Tourb given the current market's fascination with grand comp PPs. Thanks for sharing...

Prices are actually "Higher" than posted...

 
By: nothing but time : April 12th, 2008-08:47
These really are crazy prices because they probably represent the hammer price.. There is still a buyer's premium, purchase tax or duty and insurance/shipping to physically get the watch onto the buyer's wrist. If you're in America and you bought the 5101... 

The 5959P is almost the price of a 3939H. That is insane. I wonder

 
By: jasny : April 13th, 2008-07:34
how Patek prices can keep going? Could it end up like the US real estate market? The part I understand is what they are going for now. What I do not understand is where can they go from here? A 20% increase would put the 5140 at 90k for an entry level, le...