Patek Philippe

about the limited special re-editions released during the recent London Grand Exhibition? Some interesting watches were released with special dials like 3940G, 5070G & P, etc. I'm sure that we all agree about the prices but let's focus just on the watches... 

so it will remain very hard to give a fair opinion. If I could sum-up my thoughts, I would say: - I'd love to have something nearly unique and quite original compared to the standard production. - It seems that some dials are looking very good, so certain... 

Yes, there were pieces I liked a lot: 5070G, 3940G (except the dial configuration is from 5140) and naturally 5070P - a Grail Watch. But there are two minor issues: the availability and $. My life is not easy nowadays. I missed a watch which is already di... 

Kari - as mentioned elsewhere will try to post some more photos but, to answer your question, it came in a lacquered dark hardwood presentation box with built in winder (battery and mains).

the standard version. What about the paperwork? Best, Kari

but I was not so convinced by the 3940s. I found the dial colours to be very nice, but I don't understand the decision to put a 5140 (style) dial in a 3940. The 3940 was, to me anyway, one of the most beautiful contemporary perpetual calendars around and ... 

Best, Kari

However, pictures are available when searching for the same. I did that. Best, Kari

The 5970 & 5070 are gorgeous. Especially the salmon dials I like a lot. Now I found a source that mentioned the prices: PP wants for this 5070G 125'000.00 Euro??? Did I miss anything? The 5070G was around 40 Euro when it was launched then. Right? Now ... 

I think that, first, the 5070, out in 1998, was priced 40K at a time there wasn't € yet, and the market was completly different and not as powerful as lately. Hence, doubling the price is not something difficult to think of. Furthermore, they are launched... 

Market Economy. I also like 5070G & 5070P. Best, Kari

I think a traditional and family lead company like PP should live different values! The should charge what is the worth it and not look to the market like this: "We are THE Collectors brand and for that reason "everything goes!" We have seen so many bubbl... 

For collectors who wish to buy the 5070 now, they would voice that prices are high. Take the perspective of the current owner of the 5070, they would speak to justify the asking price of the current 5070. And they are certainly happy price are heading Nor... 

I'm not a judge, just an average consumer. I do not like the prices of these pieces but the question is not if I like or not because naturally I would always like to pay less. For me the real question is "Would I buy if I would get an opportunity? And if ... 

This all depends on whether we are speaking of a decision of the head, or of the heart. Probably in most of our cases it is a little bit of both, but the question is "which takes the lead?". In my case, it is the heart: I love these watches for what they ... 

Are we approaching the end of the Watch Bubble? I think that a sign of a bubble is that the profit margins have grown to a level exceeding remarkably the margins of other main industries. My question is that will the watches be cheaper in the future? Or a... 

and we can't talk about bubbles just because prices have risen very much. It mainly depends on the brand's appeal and the evolution of the potential customer volumes. Some brands are maybe reaching their limit while others will still be sought after. And ... 

as an economist I can't agree. With all bubbles the explanations are quite similar. Watchmaking is something we all love. However, it's an industry among other industries and at the moment the profit margins are obviously exceptionally high. These margins... 

and I'm not an economist. And it is interesting to give a thought to your definition which explains the new comers "blossoming". In the mean time, I think that a brand which is well settled and which has difficulties supplying the demand is on a very diff... 

My crystal ball is very bright when it comes to oil trade and oil tankers. However, it's a bit foggy when speaking about watches. What did Patek do i.e. during WWII? They produced steel Calatrava. In the case of Patek, their highest margins are in Grand C... 

This is an interesting exercize to forecast what could be Patek's policy in the future. There are many ways to lower a watch price but I'm not sure that the difference between steel and gold is significant, even for a 17K watch. But the decrease in value ... 

Please check the prices of 5960P vs. 5960/1A. Metal plays a very limited role there. Something like enlarged 5120A or 5196A could win a bunch of new clients and a steel case would be a perfect excuse to lower the current price of the same reference. Plus ... 

it could be a good way to lower the prices in a more significant extent without giving the impression to go reverse. Cheers, Mark

Best, Kari

i.e. that is it s luxury good. In other words, not necessary. Which means that I assume that Patek will feel (negative) repercussions if the watch market as a whole experiences a 'bursting bubble' syndrome. I would imagine that (i) quite a number of luxur... 

I like the way your thoughts are proceeding. And I liked very much the second last sentence. Best, Kari

The burst can be "needed" indeed but I guess it can remain soft (or not). One thing I don't follow in your comments is why Patek will particularly be concerned? I would have felt that as it has a strong collector/customer base it may be a little safer tha... 

this is what I referred to. Of course, I do not have insight information about the exact percentage of Patek Philippes bought for that reason, but I guess it is safe to assume this being a sizeable fraction. IF the watch market experiences a shock, then i... 

Well, my feeling is that the "speculators" retreat impact won't be that obvious as every type of cusomers may step back. It is a bit like a deflation period: people postpone their purchase as they think the prices will be even lower as time goes by, the s... 

I am angry! It's not very becoming to them. Would I buy this watch? I love it. Would I pay this ugly price, a price with a premium like flippers ask? I don't know...perhaps not, because I would feel misused with my deep love for timepieces, especially for... 

I'm sure you'll have many other oppurtunities of getting the one you want in the future in the standard collection. This is something I'm also looking forward to. Cheers, Mark

After all, it all depends on their clients. If they are ok to buy it, then, the price was right. Now, if I find it smart from a respectable brand like Patek, that is another question. Elegance doesn't always work with business. Best, Nicolas

Words on the street, the special edition will come with Portfolio certificate. Which will include photo of the dial as well as photo for the movement in a large leather folder. The box will be the same as the normal production.

You hear a lot in Hong Kong and that's good. I have tried to ask Patek but got no clear replies. Best, Kari

This is all very interesting. Below is based on empirical observation, not because I have been drinking the PP "Kool Aid": (i) PP must be entitled to make a profit. Without that, there would be no innovation. I would rather the putative "flipper" mark-up ... 

D-oh "Thierry", not "Philippe" - sorry.

Best, Kari