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WatchProSite|Market|Digest

Patek Philippe

More and More Shame!

 

Hi.  I agree with all of you.  I am one of those suckers that truly appreciate the Patek quality and it's superior watches and the reason why I am complaining is that I can't get my hands on their nice pieces.   It is not the price I am complaining about - it is the availability which is clearly not the problem.  The problem is that even if a grey market dealer is selling a watch for half of the retail - I would NOT buy it due to the many risks involved.  However,  when I inquired all the grey dealers...the prices they quoted were very close to retail or a small amount over retail .  My question is this....if people are willing to pay a higher price for these watches - then why doesn't Patek just raise the prices?  Why not price them at Market value?  I would much rather pay a higher price ( which I always do ) and get it from the authorized dealer.   The supply is there - just in the wrong hands.  Many of you said, that some people buy from authorized dealers...and then "flip" them to a grey market dealer for a higher price.....which clearly shows that these watches are under priced.  Let Patek raise the prices to the market level so all of us have a chance to buy them.  If we buy them at market value - we would not flip them and basically eliminate the grey market.

This is the same question I ask about professional sports league owners.  For example....why do the Yankees sell tickets at lower the market price?  By doing this - they feed the "scalpers" .  So, for me to go to a game....I have to wheel and deal outside the stadium and risk getting arrested!  I would much rather have the Yankees raise the price - and I buy directly from them!

The more these people try to control price....the bigger the black market becomes!  Capitolism!  Let the market forces control price and supply and demand will even out!

 

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25 Comments view entire thread 

Real Shame

 
By: Shak : August 18th, 2008-22:47
I was recently in New York and was just walking and browsing in the Diamond District. To my surprise, I saw at least six 5070's. three 5970's, several 3970's, 5960's, and many other complications displayed in various shops. When asked, they were all rough... 

priced at retail?

 
By: jonrus : August 19th, 2008-20:34
are you referring the prices to the current "gray market prices"? If such is the case, it's not surprising. I'm sure some collectors will happily part with their watch for some profit. On the other hand, if priced at the last MSRP of each watch, then it's... 

More Shame

 
By: Shak : August 20th, 2008-00:03
The gentleman that posted his faboulous colleciton of multiple datographs and and an incredible collection of Patek Chronos is indeed a very lucky man. He mentioned that out of all his superb collection, the Patek slpit second Chrono ( 5004 ) and the Lang... 

This game is going to be harder and harder to play... (if you still want to play)...

 
By: happy_wis : August 20th, 2008-04:09
If you can see a lot of these hot watches in the grey dealers, it does not mean that Patek made a lot of these. It just happens that the grey dealers have collected a lot of these from various channels; It also means that the grey dealers can sell these w... 

Much of what you write make great sense

 
By: Dje : August 20th, 2008-05:53
Hi, I don't agree to everything but indeed the main point IMO too is that we see many looked after PPs on the grey market because there is a high demand for these watches. The PP management has been very successful to defend (no longer establish, it has b... 

not for sale ...

 
By: Bruno.M1 : August 20th, 2008-08:34
I can't say anything about the Tiffany store but what you said about the exibition in Thailand, this happens all the time. The thing is that those watches are not for sale. Patek (and other brands) want to show those pieces to the public, that way you get... 

More and More Shame!

 
By: Shak : August 20th, 2008-11:02
Hi. I agree with all of you. I am one of those suckers that truly appreciate the Patek quality and it's superior watches and the reason why I am complaining is that I can't get my hands on their nice pieces. It is not the price I am complaining about - it... 

grey market

 
By: ariarec : August 20th, 2008-13:09
Ever since passing the diamond district shops in NYC I have been going back and forth deciding whether or not to by from Grey Market or AD. I would like to share with you what I decided: I am going to buy Grey Market, because the price was about 25% less ... 

Market value: what a fiction!

 
By: AFK : August 20th, 2008-15:38
Market values, price justifications etc.are all irrelevant issues as so called "aspiration brands" are concerned. For many of us, the holy suffering of waiting for the uncertain delivery through the AD, worths above anything. Whereas for many of us, world... 

no way near retail for 5970

 
By: eric.vonschonberg : August 21st, 2008-01:28
Do you mean to say you found a Patek 5970 for close to the retail price of the authorized dealer - the price it was sold before it was discontinued, which I believe was $105K? If it were really selling for that low, when they are selling for close to $200... 

Agree...

 
By: mendezj : August 23rd, 2008-17:24
Maybe PP watches at a price point over $150,000 need to be applied for and all that nonsense. But that's just mind games that they play with rich people. However, just check any of the most popular gray market sites and you'll find that the most plentiful... 

More...

 
By: mendezj : August 23rd, 2008-17:45
The gray market is simply a way of moving merchandise that is not moving at the outlets where it's supposed to be sold. Moreover, some years ago PP tightened their quota requirements for retailers which resulted in more watches on the gray market. Now, th... 

How it all works ...

 
By: eric.vonschonberg : August 25th, 2008-22:38
Anyone who has been to lots of Patek ADs will notice that you rarely ever see a hot Patek in their front display. The pieces they have in their front display languish for months, but many end up getting bought by some naive customers who think buying anyt...