Absolute Watch Novice

[BASA]

Hi There,

I looking into getting my first proper watch. I’ve settled on AP and was looking at the the single dial code 11.59 I was just wondering what the general consensus is in this watch and if it will hold its value medium to long term

Thank you

[huncho]

do you actually like the watch? because if you only care about value retention the code line is not the way to go

[Audevache]

Originally Posted by BASA

Hi There,

I looking into getting my first proper watch. I’ve settled on AP and was looking at the the single dial code 11.59 I was just wondering what the general consensus is in this watch and if it will hold its value medium to long term

Thank you

It depends of which model. The 2023 steel releases currently trade 10-15% below retail. If you want to buy an earlier generation precious medal model you have to go pre-owned as a) they are now discontinued and b) they usually trade quite significantly below retail. The new stamped dial versions in rose gold were just launched some weeks ago. Here’s I’m assuming you want to go 41mm, not 38mm.

Long term value retention is basically crystal ball gazing. Nobody really knows.

I’m personally bullish on the Code, but there is still quite slot of Code hate out there, mainly due to the somewhat suboptimal early gen lacquered dials and the fact that during the Royal Oak craze a lot of people were “encouraged” to buy a Code first, which didn’t help.

I love my steel Code chrono and wear it a lot. If you like it the Code should go ahead, it is a truly special piece.

[dauster]

Originally Posted by BASA

Hi There,

I looking into getting my first proper watch. I’ve settled on AP and was looking at the the single dial code 11.59 I was just wondering what the general consensus is in this watch and if it will hold its value medium to long term

Thank you

just get a pre-owned 15400 or 15500 in SS and for around 30k and call it day. timeless watch. I would not be buying a code

[BASA]

Originally Posted by huncho

do you actually like the watch? because if you only care about value retention the code line is not the way to go

Thank you so much for your insight, so a bit of background, I would like to get a AP as my first time piece as opposed to the standard Rolex, PP etc. but I want a dressier item rather than a Chucky metal strap. Hence why I settled on the code. In terms of value rentention this is a large consideration I wouldn’t want to spend 20K on something which will be half the price in less than half the price in 20years. I’m happy to get a used one as long as it has its box and papers.

[messikens]

Until the blip of the market (COVID) in general value retention of a watch that isn't super limited / super special is a crapshoot at best and a sure money loss at worst.

If you love the watch and you plan on keeping it for 10+ years, a drop in value shouldn't be your consideration.

If it is, then either you don't love the watch as much as you should to buy it and hence shouldn't pull the trigger in the first place

[VogelPhoenix]

Originally Posted by BASA

Thank you so much for your insight, so a bit of background, I would like to get a AP as my first time piece as opposed to the standard Rolex, PP etc. but I want a dressier item rather than a Chucky metal strap. Hence why I settled on the code. In terms of value rentention this is a large consideration I wouldn’t want to spend 20K on something which will be half the price in less than half the price in 20years. I’m happy to get a used one as long as it has its box and papers.

I can't imagine that anybody would tell you with a straight face that they had any idea what the value of a Code (or any other AP) will be in 2044. Lower limit is the melt value of the gold case, if that's what you go for.

[Policylimits_]

Buy a jumbo thin. Will not need another watch after that

[Octagon Guy]

Originally Posted by BASA

Thank you so much for your insight, so a bit of background, I would like to get a AP as my first time piece as opposed to the standard Rolex, PP etc. but I want a dressier item rather than a Chucky metal strap. Hence why I settled on the code. In terms of value rentention this is a large consideration I wouldn’t want to spend 20K on something which will be half the price in less than half the price in 20years. I’m happy to get a used one as long as it has its box and papers.

Saw your post in GS sub forum as well asking about discounts. My feel is that you are still not very firm about getting an AP as your 1st piece. And more importantly, you might not be very prepared to enter the luxury watch market yet. Luxury timepieces are not a necessity nor an investment. Treat what you paid for as sunken cost, just like any enjoyable holiday you take. Any amount you can recover, should you sell, is a bonus. Take your time to explore which brand you really love enough to lose money on and probably you'll be more happy with your purchase.

[AK797]

Originally Posted by dauster

just get a pre-owned 15400 or 15500 in SS and for around 30k and call it day. timeless watch. I would not be buying a code

[huncho]

Originally Posted by Octagon Guy

Saw your post in GS sub forum as well asking about discounts. My feel is that you are still not very firm about getting an AP as your 1st piece. And more importantly, you might not be very prepared to enter the luxury watch market yet. Luxury timepieces are not a necessity nor an investment. Treat what you paid for as sunken cost, just like any enjoyable holiday you take. Any amount you can recover, should you sell, is a bonus. Take your time to explore which brand you really love enough to lose money on and probably you'll be more happy with your purchase.

he's only ever posted in this thread, think you have him confused with someone else lol. but i agree with other posters saying get a RO/ROC instead

[BASA]

Originally Posted by Policylimits_

Buy a jumbo thin. Will not need another watch after that

Royal Oak?

[Policylimits_]

Yes that watch checks both categories

[BASA]

Originally Posted by Octagon Guy

Saw your post in GS sub forum as well asking about discounts. My feel is that you are still not very firm about getting an AP as your 1st piece. And more importantly, you might not be very prepared to enter the luxury watch market yet. Luxury timepieces are not a necessity nor an investment. Treat what you paid for as sunken cost, just like any enjoyable holiday you take. Any amount you can recover, should you sell, is a bonus. Take your time to explore which brand you really love enough to lose money on and probably you'll be more happy with your purchase.

Hi not sure it’s me you are talking about! I’m haven’t posted in any other thread and certainly not asked about discounts, although my next question was regarding reputable online used dealers. One of my motivations other than to enjoy the watches while I can was to leave something for children.
Thanks

[huncho]

Originally Posted by Policylimits_

Yes that watch checks both categories

the jumbo is also $70k. not really something you recommend for a first time buyer

[BASA]

I think my budget will be around $23K so I think a RO is outside my price range!!

[neal.jy]

Given he’s literally said he wants a watch on a strap and not on a metal bracelet, I’m not understanding why folks are recommended a RO over a Code…

I do agree with the other point around value though - OP you should only buy something that you’ll love and enjoy. Go into it assuming you’ll “lose” the full amount of the purchase - the return will be your enjoyment and happiness. If that’s worth it to you, then pull the trigger - otherwise you’ll need to re-think the amount that you’d be ok to lose.


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[l_chissle]

I'd think CODE values won't go down much more from today's grey market prices. Seems like the appreciation of this line is increasing.

[Watchlurker11]

First, you should buy the watch that moves you. rather than on what you think will retain value.

that being said, if you're focused on not taking a major bath on your purchase, i'd advise you to buy used and to buy something that trades used at a meaningful discount to retail (~40%) which probably limits you to the codes.

[Watchlurker11]

Originally Posted by BASA

I would like to get a AP as my first time piece as opposed to the standard Rolex, PP etc. but I want a dressier item rather than a Chucky metal strap. Hence why I settled on the code.

the heart wants what it wants, and i wouldn't want to try to convince you otherwise, but i'm not convinced this is what you really want.

Not wanting "the standard rolex, PP" -- sure. i can understand wanting something different from the crowd. But its unclear why this would lead you to choose a dressier AP as your first watch (it sounds like you're starting from the top down as opposed to finding some old Jules Audemars watch that you love). Not to nitpick language but saying you "settled on the code" doesn't inspire confidence. Do you really not look at a JLC or GO and feel more moved by it than the codes you're looking at?

[VogelPhoenix]

Originally Posted by neal.jy

Given he’s literally said he wants a watch on a strap and not on a metal bracelet, I’m not understanding why folks are recommended a RO over a Code…

yeah, I found those recommendations a bit odd. Don't get what you want, get what everyone else wants....

[Octagon Guy]

Originally Posted by huncho

he's only ever posted in this thread, think you have him confused with someone else lol. but i agree with other posters saying get a RO/ROC instead

My bad. Both their user names are too close. Lol...

Originally Posted by BASA

Hi not sure it’s me you are talking about! I’m haven’t posted in any other thread and certainly not asked about discounts, although my next question was regarding reputable online used dealers. One of my motivations other than to enjoy the watches while I can was to leave something for children.
Thanks

Yes, my bad for mixing up 2 different members with almost similar user names. But my point still stays. Leaving your timepiece as a legacy is leaving momento, a memory of you. Value retention should not be a big consideration. My dad left me a pen he used to carry around. Totally worthless in dollars and cents but super valuable to me as it's sentimental. Buy a watch that you really love and enjoy. That's makes a real sentimental hand down when the time comes.

[Audevache]

Originally Posted by Watchlurker11

the heart wants what it wants, and i wouldn't want to try to convince you otherwise, but i'm not convinced this is what you really want.

Not wanting "the standard rolex, PP" -- sure. i can understand wanting something different from the crowd. But its unclear why this would lead you to choose a dressier AP as your first watch (it sounds like you're starting from the top down as opposed to finding some old Jules Audemars watch that you love). Not to nitpick language but saying you "settled on the code" doesn't inspire confidence. Do you really not look at a JLC or GO and feel more moved by it than the codes you're looking at?

Guys, I actually think that the Code particularly with the new stamped guilloché dials is among the most interesting contemporary non sports (I wouldn’t fully call it a dress watch) watches out there.

There are very few Pateks I’d trade my Code Chrono for. And there is increasing appreciation of what the Code line is and can be among a growing number of collectors.

Yes it has a cringeworthy name, the early dials weren’t great, and AP‘s recent commercial (don’t want to call it bundling) strategy didn’t help. But it is a truly great and very unique first watch that you won’t see a lot of people wearing, I really don’t see why most people here are desperately trying to dissuade the OP from getting one.

[BASA]

Originally Posted by Watchlurker11

the heart wants what it wants, and i wouldn't want to try to convince you otherwise, but i'm not convinced this is what you really want.

Not wanting "the standard rolex, PP" -- sure. i can understand wanting something different from the crowd. But its unclear why this would lead you to choose a dressier AP as your first watch (it sounds like you're starting from the top down as opposed to finding some old Jules Audemars watch that you love). Not to nitpick language but saying you "settled on the code" doesn't inspire confidence. Do you really not look at a JLC or GO and feel more moved by it than the codes you're looking at?

Thank you for your great feedback watch lurker. Maybe settled was the wrong adjective I am completely comfortable with the choice aside from understanding the pro/cons of the code with 1 dial as opposed to multiple. And if that affects potential re-sale value, understand that for you afficienandos my consideration of not wanting something that may still have value I 20 years time is strange but that’s where I am for the reasons I’ve already outlined. However I really appreciate the dialogue and comments. Can you specialise what the JLC or GO are?

Cheers

[BASA]

Hi thank you for your feedback and dialogue guys, really appreciate it. Perhaps I chose the wrong adjective when saying “I’ve settled”. I’m happy with the decision. Unless there is compelling reasons not to, eg. Poor value retention, build quality, or performance. Aside from these considerations My only other issue is regarding the difference between the single dial version and multi dial version. Again comments are welcomed. Thank you all again. Happy to be here.

[rmlovett1]

If you’re going with a Code….id definitely buy pre-owned and then expect the value to
probably drop even more. That way, not much heartache if you decide to sell/trade.
That said….id personally buy based on desire only.

[codecow]

For almost any dressier production watch you’re going to take a big hit buying new.

So I’d expect to lose a bunch if and when you decide to sell.

If you want to mitigate the loss, buy one on the used market and even check with trusted sellers here about getting BNIB (brand new in box). It’s likely one of them will be able to source a sealed one for you. That is where I started with AP.

[Goupax]

Ever since I saw that the bottom part of the lugs was not attached to the case of the Codes, it just reinforced my idea that this model is a dud. Maybe AP did this by design, who knows, but it just screams to me like lousy watchmaking

[Octagon Guy]

Originally Posted by Goupax

Ever since I saw that the bottom part of the lugs was not attached to the case of the Codes, it just reinforced my idea that this model is a dud. Maybe AP did this by design, who knows, but it just screams to me like lousy watchmaking

The point you are making is in fact a major selling point of their superb workmanship involved in constructing the case of the CODE. It's not an easy feat to design it this way and at the same time, secure enough.

[Vipes]

Originally Posted by Octagon Guy

The point you are making is in fact a major selling point of their superb workmanship involved in constructing the case of the CODE. It's not an easy feat to design it this way and at the same time, secure enough.

I agree, don’t understand how this is perceived as “lousy watchmaking”. The Patek did the same for the 5226.