Quote:
Originally Posted by josephvman
I don't have a dog in this hunt, other than it's nice to know that the 5167 I bought two years ago appears to be worth more than I paid for it.
I did recently have an interesting conversation with a collector/trader who owns many millions of dollars in Pateks and is connected with dealers/collectors worldwide. He thinks the current pricing is insanity and his argument for this being a bubble is that he doesn't believe end-users are paying these prices to buy and wear the watches. He thinks the run-up is nothing more than watches moving sideways amongst resellers. He's already being offered pieces at significantly less than the current asking prices on the market, but passing since he just doesn't think there are real buyers at the prevailing asking prices.
I'm curious if anyone here knows a buyer who paid $45k for a 5711 recently?
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And that really is an excellent point. There are likely a few that have sold. However, I'm watching many on Chrono24 and sure, there are lots of people looking, but few appear to be selling.