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Patek Philippe

Yes, No, Maybe...

 

My AD has had a 5980 for a while now and can't sell it. He offered it to me when it first arrived and yesterday, as my wife bought a mid-sized Datejust from him, he brought the 5980 out and asked me to try it on. Frankly I was surprised in the fact that the watch did not impress me at all.

He is selling at more than double the list price and also told me that he will now only sell a 5711 at list if the client buys a second Patek at the time of purchase.

Do I find this scandalous coming from an Authorized Dealer? At first view, yes I do. But then I remind myself that no one in my region complains that most AD's here will give up to 35% discounts on Pateks as a matter of course so the door swings both ways.

I'm sure Patek is more than aware of the premiums being practiced by their AD network as they are aware that the prices being asked for any of the new Nautilus watches is based on the quantitative production Patek has decided on...it's all part of the business beginning in Switzerland and ending with the final customer.


noble

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27 Comments view entire thread 

I've been offered a 5980 from my AD

 
By: Mostel : September 17th, 2007-18:36
He is asking a MAJOR premium, but it is still a LOT less than the asking prices of the gray market. On the one hand, it is exciting to be offered the watch. It's a weird and unique Patek, which will IMHO, go only up in value, etc, etc. But in the final an... 

No No No

 
By: MTF : September 18th, 2007-09:45
Patek Philippe would be appaled that profiteering is being suggested by an authorised dealer. That premium will NOT be seen by Patek Philippe because they already received his 'appropriate' low cost of goods through the normal distributor channels. Patek ... 

AD

 
By: roberto : September 18th, 2007-10:44
You know, PP may well be appalled but I have seen a 5980 recently with August 07 papers from one of the PP boutiques and in December I saw a 5004P with November 06 papers from another PP boutique. If their own boutiques which they own and in theory can sc... 

NOT RIGHT !!!!!

 
By: David-S-W : September 19th, 2007-06:56
Mostel, I do not think it is right for an AD to charge a premium . ARE THEY CRAZY. Keep in mind that the AD pays the cost and clears a good margin of profit. Making double profit is uncalled for. I know a couple AD that will make you buy a PP of equal val... 

This is eye opening

 
By: Mostel : September 19th, 2007-07:44
Thanks to everyone who responded. You know, not long ago, a different AD asked me for above list on a 5970, which I thought was totally outrageous. He then asked me to BUY A 2nd watch if I did not want to pay above list for the 5970. Repeat: this is a dif... 

Who is it?

 
By: M. : September 19th, 2007-08:55
actually quite interested in were the AD is from....

I meant

 
By: David-S-W : September 19th, 2007-10:19
"offer" to sell you a 5980 if you buy a PP of equal value.......

A minor dissent

 
By: vitalsigns : September 20th, 2007-10:05
If you are a big enough and loyal enough customer (in your mind), certainly I can understand your frustration and disappointment. If you are not a big enough or loyal enough customer (in the AD's mind), then I can partly understand the high price since ra... 

My Experience

 
By: M Segal : September 21st, 2007-05:52
I posted a similar situation on another Patek board. I was quickly shot down by other posters for not having finalized the details before ordering. Now the AD I purchased from has seen my business for the past ten years and I have purchased MANY watches f... 

Agreed

 
By: Mostel : September 21st, 2007-08:19
It's a racket in some ways... but the AD's side is not fully understood either. In my conversation with him, I continued to learn his side of it, which was not entirely BS, IMHO. At this time in Patek history, the price is more important than the watch. H...