Market
Cozmopak's original post on the Patek Philippe 5370P black dial auction result at Phillips highlights a significant market anomaly that warrants closer examination. His observation of a nearly threefold price discrepancy between auction and grey market values for the same reference prompts a critical discussion on market dynamics and potential influences. This deep dive into a specific Patek Philippe transaction offers valuable insights into the opaque world of high-end watch auctions.
The Patek Philippe Reference 5370 is a split-seconds chronograph, a complication highly regarded in horology. It stands out in the Patek Philippe collection for its focus on a technically demanding chronograph mechanism without additional complications, presented in a classic and refined aesthetic. This reference appeals to collectors who prioritize mechanical complexity and traditional watchmaking.
The watch features a 41 mm case, available in either 18k white gold or 18k rose gold, with a polished bezel. It is equipped with the manual-winding caliber CHR 29-535 PS, a movement known for its innovative split-seconds mechanism and column-wheel control. The power reserve is approximately 65 hours. A sapphire crystal protects the dial and offers a view of the movement through the case back. Water resistance is rated at 30 meters.
This reference is notable for its enamel dial, offered in black or white, which provides a depth and finish characteristic of high-end watchmaking. The 5370 appeals to collectors seeking a pure expression of a grand complication chronograph from Patek Philippe, valuing its technical execution and understated design. It represents a significant offering within the brand's complicated watch lineup.
Or else... It allows them to justify high new retail prices... who knows… Best Ø
Though the many, many headlines we'll be seeing is excellent marketing as we drive into the obligatory December mass-consumption event.
That it makes me very suspicious
If it‘s too good to be true, it‘s usually not true. Will be interesting to see other pre christmas auction results and the reaction of the second hand market.
Seems like dealers or brands are artificially increasing prices to justify higher asks.
I don't think Auction Houses can be trusted. My opinion.
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