Patek Philippe

So I've always admired Patek..  I first loved the 5110 World Time..  Couldn't afford that back when it retailed for about $16,000 in 2002.. Then I dreamt about the 5036 WG back when it was $22,000 (and out of reach for me) ..  I believe it was 2004 and I saw that one on Ashton Kutcher's wrist.. Figures because he was dating Demi (Moore) and Bruce Willis used to wear Patek's when she was with him.  Man I wanted that watch. So I hunkered down got to work..  had a few good years in my business..  Then in late 2006 I walked into my local Patek AD looking for a 5960 WG or PT and the sales lady (who had helped me select a nice diamond Twenty-four for my wife's birthday) told me she had just gotten a very special watch. She brought the cherrywood case from the vault and it was a 5970 WG..  I have to be honest I knew nothing about this watch at the time.  And my first impression was that it looked rather plain (the pictures in marketing were more vibrant than the piece in person)..  I really wanted the 5960 but bought the 5970 at her urging (well below list) and have never regretted it.. If you want a wound watch it is sure to please (and impress)..   I did part with that watch for 4 months after my daughter dropped it on a marble floor in our hotel on vacation and I had to send it to Patek for new crystal and rhodium replating..  (I highly recomend redoing rhodium plating if you own one of these as they scratch quickly and easily and the factory rhodium is quite thin compared with the ASC replate).

So my shiny 5970 is impressing conisseurs everywhere I go ..  but I'm still really craving the 5960 for it's automatic movement and flourescent hands (try checking the time on a 5970 in the dark.. pain in the a**  ..  and the constant winding is chaffing my fingertips..  you laugh, but you know it's true) .. So imagine my delight 2 weeks ago when Patek releases a batch of 5960's and I picked up my new watch just before Christmas... I am happy...  the sales lady is happy.. Life is good. 

2 days later sales lady who sold me both watches (all three if you count the wife's Twenty-four) tells me that Patek has a 5101p ..  they were going to ship it to an AD who tried to sell it on the gray market..  when Patek discovered this they pulled the watch and shipped it to 'my' AD instead.. and  do I want the watch?  (I have wanted this watch since seeing it on Bruce Wayne's wrist in "Batman Begins")..  I say "hell yeah"  .. So I have to fill in a form..  it goes to Patek..  they approve me (Thanks Thierry!!) .. and the watch arrives..  Certificate is made out in my name..  The case is gorgeous (and huge) and the watch case size is much larger than I imagined from the pictures..  Case nearly straddles my wrist-face and I'm not Asian.  Perversely, this watch is actually more of a daily wearer because nobody notices or cares..  it's so undertated..  I love that.

So after much backstory,  here's the question.  I paid about 25-30% below list on the 5960 and 70..  the 5101 is much closer to gray market price?  My AD is honest as the day is long and they told me they made very little on it.  Is the 5101p discontinuing or simply not in much demand, so the secondary market doesn't ask a premium?  Also..  can anyone reading this take a stab at the production volume on the 5101..  exactly how many of these exist?  Lastly .. does anyone know what the true list is on a 5013..  I've been dreaming about that watch since 2005 ..  My good fortune with these existing watches has built my courage and  i'd like to order a black dial 5013p from the same AD .. but because the piece is rare and production presumably low..  I'd like a price reference point to keep all parties honest.  Lastly any idea on production volume of the 5013?  

Thanks to all.

thanks for sharing your story and what a nice one it is, concluding with a 5101P on your wrist Have heard so many conflicting stories about the 10 day-Tourb. Some say being discontinued, some say not. Some say just selectively being sent out, some say unable to produce to keep up with demand. Can assume that production on that is low, evidenced by relative scarcity in the market. My very limited take on it is that it seems rare because specimens either in AD or elsewhere can easily find a welcome home anytime so people rarely see it laying around.

RE 5013, congrats on that as well. I think pricelist can be had via your AD? I have liked that watch a lot too but alas, it will remain just a dream for me, at least in this lifetime. Sorry couldnt help on your other queries on this matter.

Thanks again for sharing... Enjoy your 5101P!!!

PS I think it was a steel Reverso that was worn in the Batman movie you mentioned

nt

Hi,

Congratulations for your story that is very pleasing to read and that I'm happy to know.

I feel the love you have for your watches and I appreciate the fact that it can happen like that. Mr Thierry Stern has made the right decision approving you, I hope he reads us to know.

I hope we'll see pics of your tourbillon as it is indeed a rare piece and we don't have many opportunities to see it (I've never seen it except at the Basel show).

Thank you for sharing.

Dje

ps: I don't know the list price of the 5013 but I'll try to know. That's one piece I've seen once and it is quite well written in my memory.

I felt exactly the same after reading the post by "nothing but time".

Congrats! Wear your beauties in the best of health.

Cheers,

Edwin

btw, "nothing but time", please give me your e-mail address as I might help you with the question regarding the 5013. you can reach me at e dot heusinkveld at home dot nl.

I wanted to write "I might be able to help you" instead of "I might help you". Apologies for the typo ... .

Edwin

Pictures would be gratefully accepted

Julian

Will try to take some photos this weekend and post..  thanks for compliments and any others with advice on producion would be appreciated.  Sincerely.

when i looked at a 5101 i also tried to take a few dollars off the list price and the AD told me that he does make very little on that piece.  he stated that he does get advertising credit from patek on the $$$ volume of inventory that he sells.

as far as i know, some say production is 10-20 per year, but who knows - it's a keeper any way you look at it.

as far as demand goes, i think that it's on the rise.  two years ago, you could get one from a grey market dealer slightly below cost, now it's over list price from the gray guys. and if it doesn't hit list price at auction, it won't sell.

congratulations, that is a fantastic watch!!!  I also agree that the 5013 is another grail watch!

best,

pat

What a wonderful story and such a good read, to know how far you have come in acquiring your pieces. While I do not have any contribution to make pertaining to your questions, I would like to extend my congratulations to you on your collection of Pateks. Clearly, you love your watches dearly.

Nice trio, BTW!
Thanks for sharing these little monsters.
Nicolas

nt

Hi,

Thank you for your pics. Nice sample of the Patek Philippe production, to say the least! 

Your watches are gorgeous, even if I would haven chosen a 5970R instead of your 5970G, to add some colour!

But the 5101 dial does it in a very subtle way too.

Cheers

Dje
This message has been edited by Dje on 2008-01-12 05:45:48

The 5101 is a beautiful watch, I especially love the sleek case profile when viewed from the side. Wear them in the best of health!

- SJX

WOW!!!!
You are a lucky man.
Lovesss*CL

Thanks sincerely to all..  The two empty slots will be a Patek 5013, hopefully with custom dial (trying to order, [12+mos delivery]) and a Patek 5159WG .. Incidentally,  I have heard 2 unsubstantiated rumors that no 5159's have shipped yet because Patek is having trouble with the dial...  Should ship soon tho.  I like the 5159 because it is so incredibly elegant and that dial is just timeless (it almost has a steampunk feel to it) ..  just wonderful.  The case will be 2mm bigger than the 5059 which I liked very much too, but which just didn't have the correct 'presence'.

I think I'm going to buy a new 'garage' and start picking up some early pieces next, unless Thierry decides to create some more artistic/creative offshoot pieces as he takes over the torch..  then I'll pray like a humble man and hope to get on the list for what will surely be very emotional and special pieces.

The only watch I like outside of Patek is the triple-gold Rolex Daytona.  A friend of mine wears one as his main daily-wear wristwatch and it is a stunning piece.  He gets compliments everywhere he goes.