tom2517
300
Very good post
I have been thinking exactly the same thing in regards to Patek.
1. I do think they have gotten too expensive, but Patek today is not the same as say, 10-20 years ago. Nowadays you got Patek salons, massive advertisements (maybe not compare to Rolex, but I see Patek ads all the time in magazines that I read), publicity events, and whatnot, none of which existed or on the same scale as in the older days. A white gold 5270 lists higher than Platinum 5970, and platinum 5270 will almost certainly cross the 200K mark. Is it because it cost so much more to make them? I don't think so. But Patek now operates at a much bigger scale in terms of marketing, and they have also taken the advantage of extremely friendly market to keep on raising the prices and protect their margins.
Anyone can see plenty of Pateks that you would never find at ADs a few years ago available at ADs, and some with discount too. So has the price gotten too high? Definitely.
2. As for volume, maybe it was okay to just raise the price, but Patek also seems to pumping them out more than ever. Yes its still a small number compare to Rolex, but ultra high end market is only so big and can only take so much. Watch companies are not like artists, when Picasso dies, that's it, no more, but Patek will keep on making watches for maybe generations to come, so the amount of Pateks out there will only increase. Vintage 1518s, 2499s, and the likes will always be valuable, because they are original and made in small numbers, but the modern perpetual chronos? I am not so sure, unless Patek can find another hot new market to start buying, otherwise when the China market really slows down, look out.
3. Aesthetics is personal, I don't like most of the new Pateks (especially the engraving ones, seems so gaudy and made for emperor), but maybe others will. I won't dwell on this.
In the end, Patek is a for profit company, they will take advantage when the market is good, and I am sure they will make adjustments when the market turned sour, they have proven that they are very good at playing this game. Just two years before I was talking to a dealer about steel 5980, how they have became from hard to find and selling at a premium, to available with discount at many ADs, and I am sure you all now know, Patek discontinued it last year. Whether this will help with the value of steel 5980 I don't know, but at least we know Patek is not going to sit idle and watch the market collapse.
New Year's Suggestions (Wishes) for Patek Philippe
I have been collecting vintage, modern and current Patek Philippe watches for many years, with an extreme passion for the brand and great appreciation for the innovations, quality, beauty, exclusivity and the long term value that has characterized its wat...
new year suggestions/wishes
well you are entitled to your observations & comments. thanks for sharing. but patek philippe is also a manufacturer they also need to produce in order to make a positive bottom line. but on a positive note they still and i believe make superb timepie...
Thank You
Geross, for taking the time to respond and for your expressing your viewpoints! Yes, Patek makes incredible watches. Couldn't agree more. Patekova
2c ramble
Well put patekova, as a genuine enthusiast for the brand I could not agree more on most of your points. Firstly, the 5960P is an amazing piece, the PP that by far gets the most wrist time here. PP clearly also agreed it was amazing and unfortunately made ...
Just one thought ...
regarding " 3 month delivery period ". In the past it was quite common to get one (almost immediately) from your AD, because they had them in stock. Today no one wants to pay for stock and sometimes I have the impression some ADs are not even interested i...
leather straps
It would make lots of sense to me if PP had a facility inside the EU where one could order straps from. Particularly as PP leather straps are manufacturered in France if my understanding is correct. To have a long delivery period on accessories that needs...
Agree and my experience with Patek straps
I ordered two straps from the London boutique for my 5270G back in early July 2014. I took delivery of one in mid-November and was told the other one should be available before Christmas. I'm still waiting but, ultimately, not a big deal, as I had six str...
exactly
as a client of PP one should not have to wait this long for an accessory that needs regular replacement. would love to see pics of your 5270G wearing different "shoes"
Thank You Keks
for your detailed, and very well reasoned reply. You also bring up additional points which set forth related, very relevant issues. Best, Patekova
Patekova, you mention quite a few valid points.
Some are based on facts (which are easy to agree) and some are based on taste, at least from my personal point of view. The latter probably never was more diffucult to please than today. The target group is more different in age than ever before and all o...
Thank you Oliver
for your intellectually and visually (I love the Snapshot from 2013!) detailed response. Your statement : "The latter probably never was more difficult to please than today. The target group is more different in age than ever before and all of them are co...
Thank you for your...
comments Patekova. I personally like when the movement diameter is proportional to the diameter of the whole watch. For example the movement 324 S C looks kind of small on a 40mm watch with sapphire-crystal case back. Regards Edward
patience ….
Back in 1995 a 3970 was not sought after at all. I still have a lot of magazine from that time because there was no internet. German magazines like 'Uhren' had a lot of nice articles but also a lot of 'for sale ' announces, mostly dealers but also non pro...
Good Point on 3970
How about an even more extreme example - 5020? Very limited appeal during its years of production, very few produced (generally estimated at 250 all metals combined). It was the proverbial "dog" - generally regarded as ugly. All of a sudden a few years af...
"easy to get and ..."
That is quite interesting and maybe it was like this in your market, but not in mine. A friend of mine was happy with his 3940, but for a long time on the list for 3970. Maybe it was too long for him, because when he finally got the call that one is waiti...
I share the same New Year's wishes and
your point of view about high prices, production numbers and availability. In time we will learn whether our concerns are justified or not. I read your article with great interest and want to thank you for sharing it. Happy hunting in 2015!
Thank You!
For taking the time to read my (lengthy) article and for the compliments expressed in your post. My best wishes to you for happy hunting and otherwise in 2015!
What's the problem?
High prices are not the problem...high production and design that is not embraced by the clientele is the problem. The 3970 situation above is an excellent example and provocative point with a great deal of merit. It is true that the watch was not receive...
The Big "IFs"
rolexdoc, In your well reasoned and provocative post you state: "IF it is s true that the new Patek the watches are expensive, made in very high numbers and are designed in a manner that is not so appealing it can be a recipe for disaster now and for ever...
Very good post
I have been thinking exactly the same thing in regards to Patek. 1. I do think they have gotten too expensive, but Patek today is not the same as say, 10-20 years ago. Nowadays you got Patek salons, massive advertisements (maybe not compare to Rolex, but ...
simple wishes
1. Please revert to smaller logos and fonts on the dials. Unless you aim for buyers who have to advertise their newly acqired "status". 2. Dont try to compete with AP ROO in the High Net Worth Chav market. Yes, it might be tempting, but no, we do not need...
The link between PP's attributes
Great post Patekova. Here is my personal view; I do NOT feel that the design of PP has moved away from their traditional values - PP's are still the most conservatively designed fine time pieces in the world and that's what makes them timeless. If you mak...
Very Interesting Perspective
Murcielagoboy, thank you for your reply. Your perceptive, personal opinions present two thought provoking viewpoints, namely 1) Current Patek designs are not only very conservative compared to other brands, they are consistent with Patek's traditional des...
An amateur's view....
Let me say that unlike the author I have never owned a Patek, and I admit that I have not taken the time to look up every watch referenced in the post. I am looking at the other end of the range - I am not concerned with the details of high-range Pateks b...
Your view is more than welcome here and quite a few here ...
will (or already did) share some of your thoughts. Yes, the cal. 215 is small for today and yes it is time to show something bigger. Still you should consider size is only one feature and not a sign of quality. Just because a movement is new or bigger in ...
Yes I see...
... that it is not a matter of quality. For me it is first a simple question of aesthetics, and second the feeling that the case and movement were not designed as a harmonious whole with the loss of purity and integrity of design. Thank you for your messa...
In that case and if we talk about current production ...
your option "must" be VC. "the feeling that the case and movement were not designed as a harmonious whole with the loss of purity and integrity of design" - others just don´t fit (100%) to your criteria. Best, Oliver
What a wonderful, incisive, post.
It's not often that one stumbles upon so well-written and in-depth a critique of the brand represented on the particular Forum; and yet in a manner not a diatribe but as a good-natured attempt at pointing out to whomever will listen, what one long-time co...
A marvelous post, well written with equally interesting responses!
After reading all the posts to date, I find myself wondering from Patek's point of view.. haven't we produced what they wanted? More and interesting complications with larger cases, more steel watches than ever before, a collection so broad as to satisfy ...
font too large
on most new watches. In general the whole world is swamped with a glut of watches. Too much capacity for the current demand. Older pieces that were produced in very low numbers will always be on the right side of the supply and demand equation.