Patek Philippe

Best wishes

Alkiro

The AD I use is great and very friendly. She told me that Patek has been encouraging this type of behaviour for some time and she felt uncomfortable with it. Despite this, the AD remains a Patek dealer.

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and it just means your valuable business can reward someone else. I wouldn’t deal with a salesperson who thinks he/she has the “keys to the kingdom” and/or makes no effort to win my business. Plenty of other dealers you can take your business to.

Even at a manufacturer’s boutique: I went into the Vacheron boutique about 6 months after the new Overseas were introduced in 2016 (I had called them directly months earlier and asked to be contacted and never got a call back). I asked to see the new Overseas. The woman salesperson came out from the back and said they did not have any. Then I asked when they would. She said she did not know. She didn’t offer any more information. I walked out and I will likely never return to that Vacheron boutique. She was not directly rude but there was no friendliness, no effort shown to be of service and that’s all I need to know that my money should go somewhere else.

there are exceptions but very few who are humble when letting you down...What I know is there is more money than assets available in the world to bid on. Patek gets away with poor customer relationship and service cuz of ltd production, secondary dealers hoarding/propping. So no amount of money can get you an allocation cuz there is always someone bigger better. There is an egoistic flaw in human nature which hates rejection hence the chase begins. There are much better watches at much better value but its a bitcoin world. So most will bid on....

Purchasing a luxury item is generally a relationship-type of experience. With all things being equal, in a "buyers" environment the consumer usually prefers to purchase from an AD he knows and trusts. The same thing is true in the opposite direction in a "sellers" environment. I'm not defending anyone being rude to you, but I disagree with some of the other responses that suggest that every buyer has a right to own some of these coveted pieces. I would ask these people to put themselves in the shoes of the dealer. They're trying to cultivate a loyal group clients that will buy a number of items hopefully for an extended period of time. Very few businesses survive with no repeat customers ... everyone needs their regulars. 

Since you’re considering the 5320G you can obviously afford most of the models offered by Patek. While I don't think anyone needs to purchase items they don't want, if this is the only reference you’re interested in then you’re essentially proving my point. It’s possible you would one day become a loyal repeat buyer for that AD … but also … possibly not? 

Most ADs disqualified themselves by being arrogant and I didn't buy anything there. My AD is now 100km away, but I'm glad, that I kept searching for a good one.

Miranda, it's not Patek's "policy", but actions that result in this behavior from dealers. They are intentionally driving scarcity of watches, a frenzy mentality, and most of the time human nature responds accordingly for people in dealer's shoes. I had another dealer in the Bay Area (Roger has told me the name of this offending dealer) tell me that I would need to buy a 5270 from them before I could order a 5204.

Just to preface, I’m NOT a dealer.
I think it’s important to remember that dealers suffer at the corporate level much like the buyers at the local level. There are simply not enough watches to go around. It’s probable that every AD has several clients capable and eager to own a Minute Repeater … yet, most dealers have sold only a few if they’ve sold any at all. If in their allocation they get some coveted pieces (like the 5320G) it’s in the AD’s best interests to keep their loyal clients happy. I know this sounds terrible for those on the outside, but that’s just the way it works. If the better Patek references were easy to get they wouldn’t be very valuable. If they weren’t valuable they probably wouldn’t generate much interest … and likely we wouldn’t be wasting our time writing about them?

I'm Not going to buy watches, that I don't really want to be able to buy watches that I want.
That's also the reason, why I currently only own one Patek and I bought that one used. (A 5170g, so without Premium). The good Thing is: there are so many nice watches available, I can't wear them all. It doesn't really Hurt to Not get a few interesting ones.

If you're only going to have one the 5170G is a great choice. Enjoy!

After reading your post and the responses, bummer seems to hit the nail on the head.

I was placed in a similar position as a dealer years ago and I can assure you, it was uncomfortable.  More importantly, to subject my clients to this was impossible for me to even consider. 

I am not in a metropolitan area but a rather small demographic area where I knew my clients personally.  I was not what you would call a heavy hitter by any stretch of the imagination but over 27 years, developed a very expanding and loyal Patek following.  I am not going into depth with all that happened but ultimately, I could no longer operate in or subject my clients to this new business environment and withdrew as a dealer.

Success is a wonderful thing but how that success is handled is crucial for it to continue. I suspect some additional thought and behavioral training might be in order.

I certainly understand your frustration and the comments of the others who responded.

 

 

As I visit various ADs and inquire about some popular Patek watches, I usually get one of three responses. (1) There is a long waitlist and they are no longer adding people to the list.  (2) Please write down your name and contact info and we will add you to the list.  Some ADs probably have a legitimate list, but I assume others will never call you, as they were just trying to let you down easy without hurting your feelings.  (3) They are brutally honest like the experience shared above and say they only sell certain pieces to those who have previously purchased several Patek watches from them before.

Regards Seconds.

The conclusion that it’s difficult to establish loyalty if one is not given a chance to participate in the first place couldn’t be more true. I’m not sure, however, if I agree with the premise. I can’t speak for Patek Philippe, but my guess is that they’re looking for enthusiasts of their brand … and not mere collectors trying to pickoff a coveted piece to simply add value to their collection.

Regards Seconds.

I payed you a compliment on you 5146J if I remember

That came out inarticulately and rather smug. I apologize. Besides being a little more polite, I should have more accurately entered my reply after the comment pertaining to having to buy watches that one doesn’t want. That’s really what I was attempting to address. If a collector has a single piece in mind … and of course it’s a coveted piece that guarantees appreciated value … AND has no interest in other Patek references, then he’s probably not a real Patek enthusiast. I’m not a dealer, but I wouldn’t sell a sought after piece with a waiting list to what could be a one-time buyer.

I agree with you if a collector is just chasing one piece he is not a Patek enthusiast.
Regards Seconds.

95% of the easily available Pateks are in my view (I'm sorry for this) completely boring watches, which only Shine due to their high end finishing. On the Other hand 95% of the interesting Pateks are Limited Edition or Limited availability (often from the beginning).
Other Brands also have interesting hard to get Limited Editions, but those usually also have a much Higher number of easily available interesting watches. But that's maybe Just my taste.

Patek Philippe is not for everyone. I totally get what you say about boring ... but for me that's attractive. Very understated ... with a premium on the idea of "exquisite rarity HIDDEN in plain view".

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I was at my AD and they said they have not received their 5320.  but maybe they had and went straight to the buyer?

I think I've purchased about 75% of my Patek Philippe references "Sight Unseen". I've never been disappointed and almost invariably the piece in the flesh exceeds expectations.

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but the Singapore customers will have first shout since the ADs know them. The same thing to be fair happened at the London exhibition when UK customers had first preference of the limited editions available. The problem is I know how passionate the Singaporeans are as watch collectors so there are unlikely to be too many remaining for the rest of us by the time they have placed their orders.

As for my own limited personal experience (which I plan to keep limited, I always bought my Pateks at Italian ADs so far, as in general, at least when it comes to watches, I found them much more transparent and easy to deal with than the *countless* US ADs I spoke with over the years. The moral of the story is, while I bought *all* of my prior Pates at one single AD (the same great guy that delivered me the 5089), the *first time ever* I dropped by my "second" AD in Milan last year, they kindly got me a 5131P... They certainly didn't need me as a customer (it's one of the main retailers in the entire country), but they did choose the sensible --- and rewarding --- business strategy to also value a new interested customer every once in a while, provided of course he had a record with Patek... That was (in my case, as I'm sure in many others) the smart way to do business, and I'll certainly be grateful to them for a long time now!.

Helped you out on the 5131P. It's a no win situation as there may have been a truly long standing client of that AD that may have been desperate for the 5131P which was given to someone else. You benefit and he is miffed!! If there was no deserving client at the AD how does Italy actually allocate their pieces? In UK you almost have to provide your DNA

So of course you better provide a list of your previous Pateks if you want a good piece, but then I believe an AD has some good degree of freedom in choosing their own allocation strategy, which I find a sensitive policy. I agree it might be risky to allocate such a piece to a first-time buyer (in principle, I could have just bought the 5131P and disappeared), but when the AD then is able to fidelize that new client, like in my case, it is a win-win situation. I would have *never* started a long an expensive "Patek relationship" with some new AD in order to get a 5131 after many other pieces I didn't want, like virtually all ADs in the US seem to require before giving you a "big" piece.
Best wishes

Go to other AD or go to the boutique.