Patek Philippe

Since the recent currency value significantly changes, there is a rumor saying Patek is soon going to adjust the watch price in Europe. It that true? for which denomination currencies will adjust? EUR? CHF? or even GBP?

Appreciate your information!

 

This message has been edited by Dje on 2010-06-15 01:27:04

I doubt that seriously--although nothing shocks me anymore! The dollar was weak here in the US for a long time vs. the Euro and other world currencies--they certainly did not adjust prices downward for us here! Currency fluctuations are normal and the market adjusts where it should over time. To try and raise prices during a worldwide recession when many high end watches aren't selling is a poor strategy that will only lead to inventory buildups. Just my opinion....

There is talk about this for the past two weeks.

Reason being that the price of gold and platinum has appreciated iover these two years.

Apparently that is why delivery is delayed  till August for the 2010 models.

Henry

      

I'm told it will be 5%, because of the Euro.

we should be expecting a minimum 8% UP from the European market.  Date of increase will be July 1st, 2010.

will UK raise?  how much percentage? many thanks!

Unfortunately price will increase in Italy  of 11% from July,1.

Really a bad news!

Fabio

"from a little bird" - 6 to 10% increase.

 

Henry

if the price goes up because of the price of gold and platinum. it seems that the price should go up in the US too. What percentage?

And it's not going to be just 5%. It will be 15%.

But the Euro is heading lower still, so don't be surprised if they raise it another 15% later this year.

Back when I heard that Patek was still trying to decide whether or not to do the 15% increase, I raised
the question of how many people from the US are planning to take a trip to Europe this Summer to buy
a watch. I think Patek realizes keeping the price low in Europe would be bad for business in the
United States.

By the way, those in the know have been hedging their Euro positions recently. It doesn't take a
Nobel laureate Economist to figure out that $100 in the US buys almost exactly the same amount of
goods as 100 Euros in Europe. Right now the Euro trades at $1.22 per Euro, so the Euro is 22%
overpriced and propped up currently by Germany. But, it can't last.
Eric von Schonberg

you tend to forget that the US government wants a stronger Euro so their exports can be more desirable.....

The US Government is not in any position to want much of anything these days.
Eric von Schonberg

Hi,

I would appreciate if you could limit your participation to horology subjects, thank you!

Dje