Patek Philippe

The 5960 is an awesome watch with some very usual complications, beautiful dial... I have noticed the recent prices at auction to be dropping like a stone for the PT model. Any particular reason? is it an unloved watch?

Any thoughts anyone?

althought the 5980 is more in my budget

I would assume spontaneously: peolpe settle possibly more comfortably with a new RG from the AD instead buying a used one, that also needs

servicing on top for the same price.

Or: the other versions are simply nicer!


Regards

Moritz

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haha! 3970 is the top for me.. I agree with you 100% but here again it is a couple of notches above price wise than the 5960. I actually do prefer smaller size too so to me it is a no brainer but for the price

Watches are like anything in life, very easy to keep stepping up from your price range. You start looking at 5980 and next thing you know you are thinking/dreaming of a 3970!

Why just think/dream of a 3970, the size is great, the dial is simple for so many complications, etc. Was thinking of a 5004R yet the dial seemed a bit to 'cramped' due to the numerals (in other words, not enough 'white space'). So agree, the 3970 is a wonderful timepiece... plus its classic styling and size will endure the sands of time.

lucky you!

is the main cause I heard.  When the Pt model was first introduced, there was such big demand (of course, many just want to flip it to make some bugs) and Patek made as many the market asked for.  Then a few years on, people who are not really watch lovers flood the markert as they want the cashflow.  It is a good watch and at this price, it is a good buy, I am sure the AD will not be able to sell any 5960P at the retail price.  The R model which I have fairs much better and also has a very nice grey dial to go with the pink gold.  A second hand dealer told me the price they offer to take the P and R model is the same whereas the new watch retial prices are miles apart.  I don't think Patek will make the same mistake again, expect new pieces to be always highly priced and in short supply.

are cashing out of the 5970 as well. At a recent auction in HK, I think there were 5 pieces altogether and the last one didn't even reach reserve.

F

Fernando, I want to bring that point out as well.  With the 5270 coming in, 5970 will not have prices going up like crazy anymore, probably perform like the 3970.  I guess the total production vol of 5970 is quite high.

this one is getting more and more expensive, the 5170 didn't stop it

The 5970 was produced from around 2005 to 2010 in limited numbers.  The p came out last in 2009.  I believe the j came out in 2008.  The g and r came out earlier than 2008 but ended by 2007, I believe.   The 3970 was produced from the early 1990's until 2004 so how can the 5970 be over produced?  Pp has limited watchmakers who can make this reference.  Also, look at recent auction prices for the 5970, the premium is well above the 3970.  I think the 5270 will not be as popular.  I have been offered two in the last month and been offered five 5170 in the last year.  For me, I just don't like the design as much to plunk down that much cabbage. This message has been edited by wilson on 2011-12-09 05:54:24

why do you concern yourself with WHY the prices are dropping. there is a old chinese saying "Price rise buyer bitch and moan, Price drop buyer run and hide". if you have been following the auctions, i assume you have been googling and surfing for dealers asking prices online as well. and if you are smart enough to do that, i believe you can draw your own conclusions, why prices are dropping, if at all . I personally never trusted aunction prices, the brands themselves can, and have, in the past bid up their own pieces.

and if you are thinking more in terms of 5980....why not ask and check if 5980 prices has softened, again if at all , and see if there is a buying opportunity here.

I have owned Pateks for many years, and i have seen the ridiculous premiums over lists paid by collectors during the go-go years, yours truly as well. and I seen the crash in 2008, when prices for some Nautilus especially dropped 30% in half year from their highs. i can say that the 5960 was trading(note trading, not retailing) at lofty price levels, not seen since , so i personally do not think there is froth in the resale market. Just to be clear, i am not advocating a purchase or hold back, I am advocating individual comfortable price points to enter the market to buy a desired time piece.

btw gentlemen, a gentle reminder : please note and observe PPro policy on absolute price discussions.

best,

Horo

p.s....i confess...i concorted the old chinese saying....its not that old. -

This message has been edited by Hororgasm on 2011-12-09 05:43:30

But I do feel there is a tiny grain of truth in it...

Best,

Horo

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Best,

Horo

I am fortunate to own this watch for nearly a year now and can't say enough good things about it. I own the blue dial version
and for the past few months it has become my daily wearer, I try to rotate it with my other watches but I'm constantly drawn to
the 5960 - form, functionality and beauty.
With regards to prices, I can't really comment but I reckon a steady rise in the preowned market is inevitable over the next few years.
But this watch is a keeper for me.