Patek Philippe

I didn't dare to say 'cheap'

Here's why...

I'm browsing through a pretty old catalog. Not what we should call vintage but since it was printed in  1996/1997 I think I can say it's an older catalog. It's nice to see some discontinued models. But the really important thing is that it still had a 1996/1997 pricelist. when I look at some watches - discontinued or not - I am almost shocked by their price. Let me give you a few examples

3970E --> 59.000 euro

5004 --> 110.000 euro !!

5050 --> 38.000 euro

Guys 13 years ago euro 60K  for a 3970 and euro 110K for the 5004. In case of the 5004 it went up by ONLY 40% in 13 years ! I could be wrong but I have the impression that most other brands dubbled or trippled their prices the last 13 - 14 years. 13 years ago a Rolex GMT was yours for less than 2500 euro, today it will cost you 5500 euro, Panerais were available for 1700 euro.

So, am I missing something or  did Patek not rise their prices like several other manufacturers did ?

It's really that simple.

maybe you misunderstood my post or maybe I wasn't clear but I really didn't want to talk about investments

ago and stocked until now. So the price registered in the book is almost the same. LOL +++++++

Whatever, we like them a lot ))

Cheers

Patrickh

I don't recall the conversion factor at that time, but I am fairly confident that the Euro cost less than a Dollar. I recall a trip to Austria wherein a Euro was approximately 75 cents. 2001 or 2002? Might this be part of your answer?

William C

We should look at the Swiss Franc, EUR/USD doesn't matter because when they leav the factory the price will be quoted in CHF

But that might indeed  be a part of the reason

Over the last 13 years we have lived through a huge bubble. What I do not like is the inelasticness of prices. We saw global markets loose ~35% of their value, yet whether it is Patek Philippe, petrol or steak, we do not see these prices follow the markets and likewise correct.  So, the cost of goods inflates while purchasing power and available captial declines...Not a positive picture for the collector.

--

Richard.

This message has been edited by =RWK= on 2010-03-08 17:17:43

There is lesser room for growth unless it's really rare and very unique from the dress.

Who would pay for a common vintage calatrava (for eg.) if they are priced 100k upwards if you use the normal inflation to adjust a today's value?

Rollie on the hand is different. They are really more affordable vs patek then.

Perhaps the pricing depends on their Patek's Profit Margin.

Or it could be their "discreet" target audience.

Rolex goes up because of its"popularity",

Or maybe they just want to nice guys!

Forty percent in thirteen years? That's right around three percent each year. Sounds good to me.

Aloha,

Bob