amanico
[JLC Moderator]
405908
Things are very simple.
I lived the processus.
While I was at the PP Paris Boutique, someone from Asia was willing to buy a Minute Repeater.
He showed a big interest on one of these striking watches from PP and his Credit Card, for the salesman to understand that he was not jocking.
The salesman told him that no piece of this kind was available for the moment, that he had to fill a document with his name, address, etc... and that Mr Stern himself will give the ok.
The salesman precised that nothing was certain, and that if it would be ok, the waiting time was important.
The gentleman from Asia insisted and his big interest on striking watches, the answer from the salesman was the same.
So the Gentleman asked for a Tourbillon: Same outcome.
So the guy asked for a Chrono, and then the answer was slightly different depending on the fact that the Chrono was automatic or manual.
If Automatic, the chances were big that the gentleman gets one, after a wait of several months ( It was one year ago ).
If manual, same processus than for the minute repeater.
I have to precise that the gentleman was willing ot entirely pay the xxx xxx Euros immediately for the striking watch, even if he had to wait for several years.
The Salesman refused, as per the PP rules.
I can't tell you if it is a good or a bad thing, I would say that it may be both good and bad.
Good, because the distribution of this kind of pieces has to be controled, to avoid the grey market.
Bad, because the outcome of this processus is that you will only find this kind of pieces on the grey market, it wil totally discourage the honest and true passionate collectors to get the piece they dream about.
Best,
Nicolas
This message has been edited by amanico on 2010-11-06 00:54:21
SJX' picture of the minute repeaters has me thinking-
besides the considerable money to purchase one of these minute repeaters, how does one go about obtaining one ? Is it true there is an application process, and what does that involve ?
Things are very simple.
I lived the processus. While I was at the PP Paris Boutique, someone from Asia was willing to buy a Minute Repeater. He showed a big interest on one of these striking watches from PP and his Credit Card, for the salesman to understand that he was not jock...
the next step ?
thank you Nicolas for responding! In the case you describe I wonder if the Asian man had ever purchased a Patek before- My Patek dealer told me ( and I take it with a grain of salt ) that the chances of purchasing a complicated watch go up with the number...
It is not only a question of number of PP pieces you already own, I believe.
In the case of this Asian Gentleman, he said to the Salesman that he already owned a certain number of PP watches. The Salesman answered him that it will certainly help, but that it was all under Mr Stern's decision. So, I think that I' m not the most and...
auction process
My Patek salesman hinted that there would be an auction process in Switzerland after approval from Patek- ie that you would gain approval, and then place bids on these pieces in competition with other approved buyers- hmm.....I wonder if this would make a...
This is the Best way to encourage grey market....
... i guess its all about keeping the customer frustrated to maintain the desire. Most of us want what is not accessible or hard to get. But you gave us a grey answer as well : Its good and bad. So you are for or against it?... and why?
Is frustration a good thing?
As I said, you cannot give a black or white answer. It all depends on who has to answer to this question. Look, I was one of the very first on the 5070P list, and I didn't get it. It was a good thing for my bank account, as I don't buy watches to re sell ...
I don't agree...
... if i may. Things are not coloured, but the way we look at them is. I'd see it like if your bank account matters more than your love of watches, then yes, its a good thing that you didn't get your 5070P. If not, its a bad thing. its that simple IMO. At...
I solved the problem in another way. I got the 5070G. :)
And I didn't buy it from the Boutique, as it seems impossible for me to get anything from the Paris Boutique. But it doesn't matter, what is the most important thing is that I ended with getting one watch I was running after for 5years. Best, Nicolas
Good choice!
i have a weakness for all 5070, but the WG has 2 things that all the others don't have : Its the most "readable" one especially in low light. And the white dial allows you to make very nice combos with diffferent colours of strap. When you'll go back at P...
Last thing
Last thing in the world someone would want after the pain of buying from the PP boutique is go back to the PP boutique. I have had considerably more pleasant dealings with the IRS. ili
To add on what was already answered!
Hi, I've always been much amused by these theories of manipulation (conspiracy?) by Patek Philippe. They would organize the grey market, they would manipulate auctions by buying back watches,....! We can't live of illusions and Patek Philippe can't buy ba...
"Poor is the man whose pleasure...
... depends of the permission of another " Madonna.. Plus i guess that whom Madonna is referring to is harder to resist to.... Lol... Not to drag more on this topic, what you are saying makes some sense, even if i don't agree on all, as i've experienced s...
Well
Hi, I'd love to know what's going on behind the scene, but alas no I don't! I'm not even a Patek Philippe (watch) owner yet, so..... One point I agree is about the saleswoman. I like this theory (and Madonna too)! Have a good week end. Dje
For me, all was good. The coffee was excellent, and the team was friendly.
I have no other ambitions. Best, Nicolas.
Social unfairness wherever you look ! Shocking !
Unbelieveable secenes seem to unfold in these PP boutiques: a member of the social elite is turned down, castrated in his enterprise to buy a commodity that is six figueres worth. Appalling ! But what wonders me more is that the elite member can not see t...
the perception of value must be very important for Patek to charge six figures
"But what wonders me more is that the elite member can not see through this ? " The more immaterial the value of the commodity is, the higher the price for it ." I wonder who here in this forum knows from whom this very, very true statement is ???" your p...
YOU ARE VERY, VERY CLOSE !!!
Not Gordon Gecko alias OLIVER STONE ! But he will know this also, although he was brought up as a stockmarket trader's son in Park Avenue. Oliver Stone is far too educated not to know this !!! Try again ! I give a hint: WHO is the biggest brain in / behin...
Oops. Meant Karl Marx
Das Kapital: Kritik der politischen Ökonomie. Read them both in the same seminar 35 years ago; old memories tend to meld toghether. Park
VERY RIGHT !!! Well done !
Unbelieveable stuff, isn't it ? And it all sounds so basic, logic. I mean not the wording or formulations ofcourse, but the conclusions ! Imagine 1867 (!) written and if you look at the situation now: it is still applicable. It will always be applicable. ...
Yes, there is an application process, or I should say
there was one in place in 2008. Maybe things have changed somewhat since then. I guess you could go through any of the boutiques, but if you went through your dealer, the process was something like this: Full name and address of client Occupation list of ...
Much obliged for this insight into the business ! Regards Moritz [nt]
No message body This message has been edited by COUNT DE MONET on 2010-11-06 11:44:11
No, not yet.
He has purchased several other pieces from one of my former customer's estate, but this year is a big jewelry year for his wife...big birthday, big anniversary, etc. so he is taking care of Momma before he indulges himself. The minute repeater will come t...
The theoretical and the practical
what you describe Whit is the application process that the owners of the minute repeaters had to undergo. That being said, there are differences in practice, say the relationship with the local Patek distributer or retailer, or a relationship with Geneva ...
All of your experiences make me think that...
...the rarity of some (or all???) PP is completely artificial, since it's done only marginally by their technical complexity. If the PP commercial strategy lets her lovers to think so, there's something completely wrong. Now I understand why a lot of "min...
For some watches, my dealer just tells me to...
... forget about it! Despite having acquired several Patek watches from him and having an excellent relationship with my dealer, he tells me that he simply cannot get me some of the watches I am interested in....
Maybe he is selling them elsewhere
If an AD "cannot" get certain models, that may mean he has some grey-market clients who pay appreciably more for them than a local collector who expects at worst catalog price. The rare watch market seems to be dominated by scalpers, just like the show ti...
There may be something to that,
but I can tell you that I had the same experience. I was told that it just wasn't going to happen, no additional orders were going to be accepted for this reference and all had been allocated to other folks. I never sold pieces outside my demographic area...
How it made me feel...
... well first let me make clear that I have absolutely zero reason to believe that my dealer would 'screw' me on this. He knows that I am a serious collector and am actually wearing my watches. He is absolutely paranoid of having his Pateks turn up in th...
A Great Equalizer
As many have mentioned, there is an application process where Mr. Stern must decide if one is worthy of acquiring one of these "grand" grand complications. Regardless of how much money someone may have, Mr. Stern decides if the person can be considered a ...
How about famous folks?
I wonder if Charlie Sheen gets his via ADs? Of course it makes perfect business sense to allocate them to celebs since they get free marketing. Still, a bit painful for me.
grey market???
Maybe Charlie bought his grey market? Didn't want to wait so paid a premium to a grey dealer or someone that didn't want their 5970 anymore.
Getting a minute repeater
Yes it is true. To get one through your regular authorised dealer he will have to so called put in a very strong recommendation like the number of Patek u have in your collection. Most importantly whether he is a serious collector and one that truly appre...