WatchProSite|Market|Digest

Patek Philippe

Social Media

 
 By: Patekphilippecollector : January 25th, 2017-08:44
I was discussing this thread on another forum with PP today. Whilst they monitor social media they are not in a position to participate in the forums. Thus invariably leads the poster to hold all the power as they cannot refute some of the statements. They shared some examples with me. They realize the power of this medium and that it needs to be recognized and handled but sometimes it's best to be quite than to challenge inaccuracies which just end up being tit for tats

Geneva

 
 By: Patekphilippecollector : January 25th, 2017-08:47
The impression I got from Geneva is that it's PP policy to follow the watch! They were contacting HSWA today to clarify to them. So let's see

+1 [nt]

 
 By: Mark in Paris : January 25th, 2017-09:25
No message body

This received from Patek Philippe SA, via e-mail.

 
 By: anonymous09 : January 25th, 2017-10:20
[quote]
Dear “PJ S”,

Thank you for your mail

Please be advised, the Product Warranty is covered , worldwide, for a period of 24 months from the dated of the purchase.
A Certificate of Origin was issued for any watch. Among other information, it indicates the movement and the case numbers.
It has to be signed and dated by an Authorized Patek Philippe Retailer, the name of the customer must be entered to confirm the authenticity of the watch and validate the guarantee privileges.

Kindly notice, the Certificate of the origin is only issued for this purchase.
The warranty is covering the Product, therefore If the watch is sold, the warranty is still valid for the period after the first purchase.

We trust that we have better clarified the situation and answered your questions.
We wish to thank you once again for contacting us and remain at your entire disposal for any further assistance you may need.

Yours sincerely,

Best regards

O. R.
International Customer Service
‘e-mail address omitted'
[endquote]


My message was as follows…

[quote2]
Hi,

I phoned a few moments ago, in the hope of speaking with a senior level person who could explain the 2-year manufacturer warranty coverage.
My query is in relation to whom the warranty covers during the 2 years after a Patek Philippe timepiece is first purchased.
Specifically, if the original owner sells the timepiece privately or to a watch trader / dealer after 6 months, does the subsequent owner still benefit from the remainder of the 2 year warranty?

On the presumption that Patek Philippe operates like the rest of the watch industry, and the warranty remains with the watch at all times (as long as the owner is a private individual / consumer), then is is correct to say the same policy is applied worldwide?
If not, then which countries or regions are exempt from having the warranty apply to second (or even third) owners?

Thank you very much, and I look forward to receiving your response.
“PJ S”
[endquote2]

Thanks a lot for sharing your request to Patek Philippe SA

 
 By: Mark in Paris : January 25th, 2017-13:53
I think that it is quite clear now.

Now, owners who may hear otherwise should be able to ask their dealer/service center to contact Patek HQ or contact Patek directly.

As I said, I was very surprised and I hope that from now on things will come in order.

Thanks PJ S.

Best, Mark

Gray Market

 
 By: watch-er : January 25th, 2017-07:58
There really is no gray market for PP watches as all the new watches are only sold by authorized agents with the original papers. When you buy an unworn watch at a huge discount from a non Patek retailor they either bought it from a retail purchaser or an authorized retailor. If your name is not on the papers you are really buying a used watch as it has already been sold by the authorized dealer to someone else. . The watch is considered sold when it leaves the authorized retailor. We are seeing a buyer's market now as world wide authorized retailors are letting many watches go at cost to third party retailors whose can provide the watches new with open papers. Known as back door selling in the business.

Than you can safely assume .....

 
 By: watercolors : January 25th, 2017-08:27
that these "Gray market" watches will be covered by third party warranty not Patek's . Cheers Edward

Maybe, maybe not.

 
 By: TheMadDruid : January 25th, 2017-09:59
What I think watch-er is referring to is a "brokerage" system that has grown up around the Patek trade. Quite a few ADs have too many Pateks on hand and can't move them, so no turnover, no money and no new Pateks, or whatever else the dealer sells.
Along comes a broker with a buyer. He gets the dealer to sell him a piece at a substantial discount, maybe at cost, and gets the dealer to stamp the piece as sold to a "straw man". The "straw man" gives the watch to the broker who turns around and sells the watch as used (and unworn), with a legitimate dealer stamp, to his buyer-still at a discount the buyer could not get because he doesn't know where to look. I am pretty sure this would all be legitimate and Patek would honor the warranty, at least anywhere but here in the U.S.-which is illegal as has been pointed out above.

Makes sense.

 
 By: watercolors : January 25th, 2017-11:03
....thank you Padj for this insight. I noticed one US dealer claiming to be a Patek online AD, but they offer only their own warranty. Maybe a loophole . Best Edward

If you get a watch

 
 By: watch-er : January 25th, 2017-13:42
with your name on the papers, no problem with the warranty. But, we do see third party dealers offering their own warranties on new unworn watches. So they may believe the warranty does not follow the watch. I personally do not put much stack in a re-sellers in house warranty. I would prefer PP work on new watches. As Padj stated it is more of a brokerage system than "gray market" as all PP watches are only sold through authorized dealers. By definition they cannot be gray market, they are just being brokered or resold as new by the non PP dealer.
<< Previous Comments Load More Comments >>