whit
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This has been very interesting reading with viewpoints
from this is how it is to exchange rates to visibly perturbed folks who have purchased watches within the past few years.
I would suspect this change is not solely based on exchange rates but reflective of market conditions.
In the past 6-7 years, there has been flurry of increases, some influenced by the price of materials, labor, and I'm sure exchange rates would fit in there somewhere as well, but I believe the market was far more influential in those actions as I believe is this latest change.
I believe the market has sent a strong message that things went too far, too quickly. Other manufacturers are talking about increases, not reductions. Patek's action may be a correction to past increases which were supply/demand opportunities which now are not there as they once were a few years ago.
It will be interesting to see how the market reacts to this and if it has shaken the confidence of Patek owners going forward.
No disscussion without facts, please. Let´s try not to support ...
rumors. Keep in mind we discuss prices here, only via PM or email. Thanks, for understanding! Oliver
hi psychotic, with price reduction then I will definitely...
... not pick up another worldtimer. I am going contrarian. Buy high and sell low !! LOL !! AD told me 175th watches remain the same pricing globally.
price reductions affecting the AD
The AD's whose country currency had price reductions are certainly feeling the heat. They lost a large amount of equity on their inventory, and are concerned that customers who felt the same may not come back for a while. Some are having a fire sale quiet...
You? Selling one of your Precious? I think not!
…Precious… (croaked in my best Gollum voice)
Decrease Confirmed in the U.S.
US 7% Decrease across the board. Hong Kong 7% Decrease Swiss 5% Decrease Asia 3% Decrease Japan 5% Increase
Price list at Rolex forum
someone posted the new HK price list, interested parties can go over there to check it out.
Confirmed
PP has sent a letter to all ADs explaining the 7 percent immediate cut in the USA in effect until June 30 at which time it will be re-evaluated. Tough on the clients who just purchased.
There is an article today on Bloomberg...
Patek Philippe has reduced the prices of its watches by 7 percent in the Americas, effective Feb. 10, in reaction to recent currency fluctuations in Europe and Switzerland. In addition to the Americas price decrease, Patek Philippe is lowering prices by 7...
Duped!
I am certain that is exactly how many Patek customers, especially very recent ones, must feel. (Honestly, how would you have liked to have purchased one of their watches recently to find out today it costs 7% less retail?) The company has sent a very dish...
Marketing tool
Of course they are just marketing tool, the only true core value of a corporation or company is making money, anything they say or do is just a means to an end.
Certainly easy to understand why those
who just purchased a Patek in the US or some other markets would be unhappy in regard to timing. Then again, might still be good they chose Patek---let me know another brand where you take "only" a 7% haircut out the door. And I suppose the guys in the EU...
yes but...
I am in Switzerland and while I do agree with some of your points I think that this was inevitable: at the current euro/chf exchange rate it would make no sense for someone in Switzerland (or a tourist) to buy from here. You have Germany, France and Italy...
Swiss is a tiny part
Of the overall market, so it really doesn't matter that much what the prices are in Switzerland. Asia market is what matter nowadays, there's no denying that Patek overplayed their hand in HK, resulting they have to do two price deductions in the past 3 y...
small but their home market
Switzerland is indeed small but is the country of Patek. I recall reading an interview where Mr Stern explained why their pricing policy was to have always a slightly lower price in Switzerland: they want to encourage visitors to buy in their Geneva and o...
In 2011
During a red hot market Chinese market, Patek HK raised price three times, over 33%. Then in 2013 the market slowed down, Chinese buyers got more wise, and they stopped buying in HK ADs because it's way over priced. So 2013 Patek HK had their first price ...
This is how I felt when Audemars Piguet did this a few years ago.
It was a blow to the stomach for many.
It seems we have now the information needed and therefore ...
we should stop here, without discussions against our own forum rules. Thanks, to all! Price increase or decrease: I am defininetly not a winner on that matter, but I can´t change it anyway. So, it is like it is - good or bad. Oliver
Canada
I'm in Canada and I just ordered a patek 5146G few days ago that is supposed to arrive at end of Feb/Mar. I emailed my dealer yesterday and my reply was that they only received a letter from Patek regarding adjusting prices in different regions. Any chanc...
Your AD should know ...
which price he asks from you ... All I can do for you is to show you the relevant detail from the official letter your AD mentioned: ...
make a phone call
Last time I asked for price list in Vancouver. AD didn't give it to me, he said it only sell the watch to VIP. I heard from a Chinese customer. He was request to buy a diamond to become a VIP before buying a Patek watch. Anyway, I will not buy a watch fro...
model?
which reference were you looking at? even patek have models that keeps sitting on store shelves.
Nice
Sounds like the Hermes model of doing business. Walk in, want a Birkin bag, nope, none available, but was told If i buy a Hermes watch or expensive jewelry, they will get me one.
follow up
My dealer did finally get Canadian prices and they were indeed reduced by 7%. They are willing to reduce my list price (my watch won't be here for a few weeks) but are now not willing to give me any discounts. So basically I'm a bit better off but not by ...
Upset
Having bought a 5940G in December, I am very upset about this. I own 4 Pateks. I never thought this company would lower prices like this. I dont buy them as an investment, but knowing that I could have saved almost $7,000 had I waited a month is extremely...
don't be...think positive and enjoy your gorgeous watch
I think that there are two categories of Patek buyers: these that don't care at all about the price (and many are in this category) and others that want to get the best deal/price. I am not in the first category but, realistically, some of the patek watch...
This has been very interesting reading with viewpoints
from this is how it is to exchange rates to visibly perturbed folks who have purchased watches within the past few years. I would suspect this change is not solely based on exchange rates but reflective of market conditions. In the past 6-7 years, there h...
all Swiss manufacturers are reducing the price in Switzerland and increasing it ...
in Europe. For years the CHF was artificially pegged to 1.20 to the Euro and now it gained 20%. So as a result of this the change is necessary to maintain some uniformity in Europe. Asia is a different story but the increase in Japan doesn't seem to refle...
I see your point and agree with respect to the chaos
the exchange rate had in Switzerland and Europe. I was pondering the actions here in the US which I did not make clear.