Patek Philippe

Dje
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Much of what you write make great sense

Hi,

I don't agree to everything but indeed the main point IMO too is that we see many looked after PPs on the grey market because there is a high demand for these watches.

The PP management has been very successful to defend (no longer establish, it has been so long established...) the value and love/appeal of the PP brand in the last 2 decades and it has found a very receptive market demand. This demand now means that PP can't apparently produce enough hot sellers to lower the demand on the short term.

Please keep in mind that there are something like 500 PP ADs in the world. PP makes around 40 000 watches a year. I don't know exactly how many but I think that's around plus or minus 5 000 from the 40 000.  Among these 500 there are many important point of sale that sell watches every week, if not every day!

PP's production has not increased a lot in the last 2 decades, at least compared to the demand on the world watch market.

Obviously with PP being a #1 brand, if not the #1 brand  in the upscale  market, in terms of brand image, you can easily imagine that as a customer you are not assured to easily find any model, specially the hot models.

With the uncertainties on the future of the market (and the difficulties to hire qualified people) I don't see PP doubling its production to avoid waiting lists and stop speculation. There is speculation (grey market as an example) because some people are ready to pay more than msrp to get a watch right away. Keep in mind that it is a recent phenomenon for PP and there is no certainty that it will last!

Certainly if you are a true PP and watch lover that general love around PP is no good for you! Still you can't say that it is PP's fault if their watches are great, their marketing is efficient. They are just successful, that's their role!

Cheers

Dje