Patek Philippe

Dear all;
It was very interesting to note that at the recently held Sotheby's auction in Hong Kong, a Patek 5575 doubled its pre-sale estimate and sold at a whopping US$129,000!!
any thoughts? I am not even sure what the retail price was at introduction.
This particular piece, for some reason has generated the highest interest among the 175th anniversary issues; this would not be my choice if I were to acquire a PP world time; I personally find the 5110P to be the most attractive of all the WTs from Patek; however, the moon phase depiction on 5575 seems very interesting; unfortunately, I have yet to see one in metal.
Just a thought!
Thanks and best regards

I sell mine and with a kiss

arouses much interest, regarding its legacy or its image etc...

This brings unavoidably speculation too. When considering such events as the 175th anniversary, the brand can't do much to protect itself and other collectors who could not purchase such watches in the first place.

As someone who wanted intensely a 5975G, I can only be disapointed to see that some watches fell in the wrong hands but it is impossible to avoid at 100%.

Hence, I can only be glad that Patek Philippe's watches have such success. And it is well deserved.

Cheers, Mark

Sometimes, PP will bid and buy them back, just to know who it is that's reselling.  I got that from a PP higher up on a dinner conversation.

I don't think so. While it is true Patek may buy a watch on the secondary market for the reason stated, there is absolutely no need to do this at auction. All they need to do is examine the watch/Certificate for the movement # and they have all the information they need to trace the watch to the AD and thru the AD to the original purchaser.

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Regardless whether the person who had the successful bid was Patek themselves or a private collector: the 175th anniversary marketing piece has delivered.

What amazes me is that public production figures of 1.200 can attract such a craze about this piece.

It might be also credit to the missing investment opportunities at the moment but under "normal" circumstances such numbers of production should not generate such craze.

Another thought is that Patek is assuming that in the, near, future the demand for such pieces will sour, regardless the relatively high production numbers?

Anyhow, I would have been very happy to have been allocated a 5975 still ...

Moritz

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This message has been edited by COUNT DE MONET on 2015-04-13 03:07:07

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Based on your interest in the 5975, there should be another mission - the successful auction of a 5975 after you have gotten your allocation 

Cheers,

Gordon

I am not sure as how your comment is to be taken but if you are saying that I would auction my 5975 than you are mistaken.

It is a kind of sporty challenge for me to get this limited edition from Patek, a trophy, my personal "precious" as Gollum is saying.

Have experienced the feeling with a Lange so far and wait for the Patek experience too, but in vain I suppose.

Best

Moritz

 

you would auction off your 5975

Rather, it was meant to 1) wish you luck in getting an allocation of the 5975, and 2) thereafter there would be an auction in which a 5975 (not yours) was sold successfully like the 5575.

Hope this post clarifies for you (and others) what I wrote earlier.

Cheers,

Gordon

my AD informed me, mine is on its way. I don't know if I will/can still get it.

Unfortunately the 175th was always gouing to be a problem. Many AD's did not get any and teh1300, were over subscribed.

 

BUT, I can assure you of one thing, the first owner and possibly the AD of that client, will never get another Patek limited edition.

And yes,that comes from the highest authority. Patek were desperate for true enthusiasts to get these pieces. All of the AD's had to submit client lists.

 

Best

Imran

 

It is quite obvious the AD and the collector who originally received the 175th anniversary watch both knew the watch was going to be re-sold.  The fact it was still double sealed increased the auction sale price of the watch that much more.  I am sure this was not the first time the collector who was allocated this watch sold it to the secondary market.

As somebody mentioned above, supply and demand in a free market will often the price of a product.  However with a production number as high as 1300, I am surprised it doubled the original sales price.  This is getting into the 5131 enamel dial territory price wise.  Hopefully the watch landed in the hands of someone who will truly appreciate the watch, rather than another speculator, waiting for another opportunity to re-sell it at another auction.