Patek Philippe

I’ve been following the 5522 in the markets since launch and values have now exceeded double retail price. I personally don’t get it - 600 pieces is not particularly limited, the design is more Zenith than anything else, and it’s an off the shelf PP movement.
Is it a bubble waiting to burst or an investment grade piece? Question to the more experienced PP collectors out there.

On another note, I recently came across a 5565 in London. Now we’re talking - great dial, great size, steel Calatrava. Similarly priced as the 5522.

If you had to chose between the two...which one and why?

But, if enough people keep sharing the religion your safe as a collector.


I would chose the 5522 because the Calatrava is to classical for me at this moment in life.

I used to work with someone who had over $1 million in Patek watches, some were unworn. Maybe it;s just me but I can't comprehend the prices some Patek watches bring, either new or in the secondary market. I like nice watches but have always viewed Pateks as being "fragile" and probably would not wear one daily if I did own one. I know that is not the case. I do however like the 5522. Would I buy one, not at double the retail price, and not even at the original retail price. Just my .02 worth on this topic.
Tom

That's a surprisingly accurate statement in this context! Definitely a very true statement some of the times!

Throughout Patek history, there have been relatively few steel Calatravas, so finding a modern iteration is quite special.....and one as beautiful as this even more so. Between these two, I would go for the 5565 without any hesitation at all.

A 5565 is the way to go.

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The watch looks empty to me.  I much prefer 5524. So, in your case I would choose 5565.

and that name costs almost $22k.  And that is regular retail, before the secondary market comes into play, and there the price can double, if not more.  Sorry, but no way I'd pay $22k, or more for a stainless steel, time only watch, no matter who makes it..  I know you "get what you pay for" but in this case that may not exactly hold true.  Again, just my .02 on this topic.

I generally think when it comes to luxury items (watch, car etc), value is meaningless as the price is determined by the buyers who are willing to pay anything to satisfy their thirst for that "exclusivity". That essentially gives the manufacturer and dealers the licence to print money; they certainly don't hesitate to act on it either.

So given all that has been said above, what do you collectors think will happen to the values of the 5522 and 5565?

Without getting into specific numbers...some scenario options to chose from for both or either of the watches:

A - goes further up: global demand for luxury is increasing, Asia will continue to add to the global collectors community and push prices up as tastes become more refined

B - value will hold at current levels. It’s already overpriced and there isn’t much headroom for further appreciation.

C - Bubble bursts. Market will wake up and recognize these are standard movements and regular Pateks at the end of the day despite limited numbers. Or because Patek couldn’t resist temptation and started issuing one limited series after another

Thoughts?

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It will begin to sound like a Panerai or Omega!!! That will simply kill the status of the brand. I surely hope that the Sterns don’t go this route.

I don't understand why they felt the need to do another pilot watch clone. What's next? Patek Submariner?

It’s a little bit more exclusive than the 5522 (300 pieces vs 600) and its size is probably easier to wear in every circumstances (36mm vs 42mm). Regarding this latter one, its display movement is a little bit lost in the case for me.

I would go for the 5565.

Best wishes

Alkiro

Alkiro,
thanks for your comments.
If I broaden be scope a bit and ask you for the one and only best Patek dress watch I should buy, which one would you recommend?

My criteria:
Time only, but open to small complications like power reserve and/or date
Minimum 36/37mm
White metal
Some level of water resistance and daily wear robustness
Not older than 1990s

Appreciate your thoughts.

Well, it’s a very difficult question.

But, mixing all your criteria, I think I could opt for a 6000G with a blue dial.

This reference is versatile for me. Both dressy and sporty (especially with its blue dial iteration) so perfect for every situation.

I like a lot its dial layout and the sub second dial at 4/5 which gives it a supplementary cool touch for me. 37mm is a perfect size (not too big nor small) and its movement (240 PS C) is reliable (maybe a lack of power reserve) and very nice with its micro rotor (perfectly integrated in the case).

You have a 3 ATM too which fits your criteria.

What do you think of it?

Best wishes

Alkiro

I know you asked Alkiro but another choice would be the 5227, especially with the black dial. I own this watch and it is stunning with a offices case back and beautiful automatic movement...Jim

Best wishes

Alkiro

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I recall that during the PP special event in the Tiffany Salon approximately 10 years ago, Thierry Stern and Claude Peny were mingling in the event. Both wore the 5565 and proudly
showed them as we were having dinner.

Something was forgotten. However saying that I did (up until last week) consider adding one to the collection as a part of the collection versus a mug have to wear. Would fit in nicely between my vintage looking 5320 And 5524. Stainless Steel calatrava is nice in a collection...But like buying stamps when collecting a set you don't ignore the colours you don't like so I tho k the 5522 might be better for someone who already has a selection of other Patek.

I like the 5522.... I tried to get one but it was not to be.....

Having said that, I also like the 5565 but am yet to see or aquire one.