Patek Philippe

Yesterday, I spent a very pleasant day in London with a couple of friends visiting various watch shops. Including both vintage and new watches.

Thus the retailers have some inventory. I guss the situation is not the same in FE.

My dealer has 5 Patek watches in stock.... FIVE! (And believe me, we're not talking about a small dealer)

He's screaming for more pieces.

If this is correct Tony, Patek should give more pieces to some dealers and less to others

and ADs and grays have good amount of inventory, and they are not moving. even new ones like 5170s etc are available. even older models lile 5070s and 5970s are now on the market, sealed and some unnamed.

we Chinese are not stupid -... we know when prices are too high and overdone. VC which was relatively underpriced versus Pateks are moving and low inventory levels.

best,

Horo

This message has been edited by Hororgasm on 2012-07-12 06:18:34

5960's in both blue & grey dials in at least 3 AD's

5170 in two AD's

All the metals for the 5140

5159 and the newer 5496

Plenty of 5726 and 5205 in both coloured dials

5980 both old and newer coloured date combiantion

5130 WG.

And may I add that I took the opportunity to visit the watch department at Harrods and boy has that greatly improved since I last went there.

It has got many new brands, including Lange & Sohne, RM, plus many olds such as AP, JLC, Hublot, Rolex Cartier etc, etc, etc 

An example, he's a dealer who got 1 5070P and 2 5970 P .... I know several dealers who did not get a 5070P and if they got a 5970P , it was only one piece

These pieces are pieces you get in your shop when you do good business.  He also sold the ultra complicated pieces like the 5207, 10 days tourbillon, skymoon tourbillon, and I saw several repeaters at his store.

Like said.... now he has only 5 watches in stock :-(

 

The economy stinks in so many parts of the world, so really, this comes as no surprise at all and I would suspect it to continue for a while.

Adding to the problem has been a hint of arrogance instead of gratitude that has found its way into the high-end watch industry.  There is a point where folks have had enough.  Enough of the very high price points and all the hoops to jump through to be allowed to spend mega bucks on a watch, especially in difficult times. I feel certain many dealers and customers are fed up with this way of doing business.

The next few years will very interesting to see what happens.

Let us see what will happen in the near future, but the current prices are for people who can say:

"How lovely! I buy it!" ... and nothing else.

I wonder how many are left who can do so.

Those who know the market and have cash to spare will only buy the "collectors items" from Patek.

Anything under 100K or not price on request: will end in the window.



Moritz

nt

No message body

As far as Pateks go, there hasn't been a slow down in the market. Although there aren't many dealers here, the influx of tourists from China has been keeping the high-end Patek market alive. And by the end of year, Tiffany, at the Ala Moana store will have a mini Patek Boutique.

Aloha,

Bob

this may be temporary because there is saturation of the market...

and that the Patek market is really not affected by the 'economy' because there will always be a segment/market (even half percent of the richest ) that will buy/desire a Patek...

and that the price ratio/proportion of high-end watches are almost the same level as it was 20 yrs ago e.g. the simplest Calatrava was 4 times more expensive than a GMT Rolex back then (at least in the Philippines);

in marketing ultra luxury products, economy and products are secondary...its always ideas.

Just my thoughts (I may be wrong)

No message body

In this part of the world. Nowadays I am able to spot 5712g, 5711/1a in white face, 5980, 5167r in the AD.
I would like to believe that there is cautious optimism by the consumers because of the lingering issues in Europe and the U.S.