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ragsk · 28 January 2021, 08:52 AM

Quote:

Originally Posted by rockdrock

For those that know the Patek AD game: are ADs expecting residual 5711s to come out throughout this year? Or once this news hit, ADs dried up?

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My AD expects to get a some more this year.

JerBear · 28 January 2021, 09:06 AM

Quote:

Originally Posted by ragsk

My AD expects to get a some more this year.

That'd be fantastic. I'm reaching out to mine with this question. I was told I was next in line

Ichiran · 28 January 2021, 04:25 PM

Quote:

Originally Posted by JerBear

That'd be fantastic. I'm reaching out to mine with this question. I was told I was next in line

Early congrats!

That's a 120k gift.

GreenLantern · 28 January 2021, 04:32 PM

There's usually some still in the production line (scheduled for production) when the run-out list hits.

Dwindles pretty fast, though.

cascavel · 29 January 2021, 02:31 AM

Quote:

Originally Posted by Ichiran

Early congrats!

That's a 120k gift.

And therein lies the problem.

Busyboy · 29 January 2021, 02:45 AM

Quote:

Originally Posted by Ichiran

Early congrats!

That's a 120k gift.

The remaining lucky few

Waited longer but got the sweetest fruits

Busyboy · 29 January 2021, 02:46 AM

Quote:

Originally Posted by cascavel

And therein lies the problem.

Is it a problem?

I think it's human nature and successful business model bouncing off each other

V25V · 29 January 2021, 02:50 AM

Quote:

Originally Posted by Busyboy

Is it a problem?

I think it's human nature and successful business model bouncing off each other

Think he means the AD would know this and the "list" may change.

Busyboy · 29 January 2021, 02:58 AM

Quote:

Originally Posted by V25V

Think he means the AD would know this and the "list" may change.

Roger that

Interpretation

ragsk · 29 January 2021, 03:00 AM

Quote:

Originally Posted by V25V

Think he means the AD would know this and the "list" may change.

I thought he was referring to the wider Nautilus overvaluation issue no?

V25V · 29 January 2021, 03:14 AM

Quote:

Originally Posted by ragsk

I thought he was referring to the wider Nautilus overvaluation issue no?

Possible. Either way, all viable concerns and true of the world we live in at the present.

JerBear · 29 January 2021, 04:22 AM

Quote:

Originally Posted by Ichiran

Early congrats!

That's a 120k gift.

Thanks, though I would never sell (promise).

But I doubt my AD gets another 5711. Hopefully, this puts me near the top of the list for the new reference (fingers crossed)

cascavel · 29 January 2021, 05:19 AM

Quote:

Originally Posted by V25V

Think he means the AD would know this and the "list" may change.

Exactly. I wonder how ADs will deal with the concept of handing out a, lets call it, $90,000 gift to any client at all? Maybe at Tourneau there isn't a lot of wiggle room, ditto for Tiffany where it's a $150,000 gift.
Perhaps a lot of new 5711s will find their way to the pre-owned counter at ADs, where they are repriced, or go directly to the gray market where the AD can get a cut of the profit. Lots of folks have done much worse things for a lot less money.

fatderek · 10 June 2021, 05:05 PM

Quote:

Originally Posted by GeraldGentaFan

I like price hikes on everything I already own : )

Ichiran · 6 November 2021, 05:30 PM

Yesterday at the Geneva Watch Auction, a 2016 5711 blue was auctioned for CHF 113,400 ~ USD 124,300. The amount was inclusive of 26% buyer's premium (hammer price was CHF 90,000 ~ USD 98,700).

https://www.phillips.com/detail/pate...pe/CH080221/69

GreenLantern · 6 November 2021, 06:29 PM

I miss the days when no one knew what I was wearing when I wore my 5711.

"Hey, that's a really nice Seiko!"

ts3 · 6 November 2021, 06:32 PM

Quote:

Originally Posted by Ichiran

Yesterday at the Geneva Watch Auction, a 2016 5711 blue was auctioned for CHF 113,400 ~ USD 124,300. The amount was inclusive of 26% buyer's premium (hammer price was CHF 90,000 ~ USD 98,700).

https://www.phillips.com/detail/pate...pe/CH080221/69

This one was more in line than a lot of other results at that particular auction. I assume the seller will end up with sth like USD 75-80k after fees?!

ts3 · 6 November 2021, 06:36 PM

Quote:

Originally Posted by GreenLantern

I miss the days when no one knew what I was wearing when I wore my 5711.

"Hey, that's a really nice Seiko!"

This is a regular complaint on here but for me it hasn't been an issue. I have been wearing my 5711 a lot over the past 18 months and exactly once a stranger asked about my watch. And I am living in the city and not in the Alps near me.

joa · 6 November 2021, 08:20 PM

Quote:

Originally Posted by ts3

This one was more in line than a lot of other results at that particular auction. I assume the seller will end up with sth like USD 75-80k after fees?!

i guess USD 82k (CHF 75k), as Phillips takes not just 26% from the buyer but also 17% from the seller.

Selling there without a proper reserve price set is dangerous, would not recommend.

Ichiran · 6 November 2021, 08:57 PM

Quote:

Originally Posted by ts3

This one was more in line than a lot of other results at that particular auction. I assume the seller will end up with sth like USD 75-80k after fees?!

Quote:

Originally Posted by joa

i guess USD 82k (CHF 75k), as Phillips takes not just 26% from the buyer but also 17% from the seller.

Wow 17% seller plus 26% buyer's. That's a sound business model.

cascavel · 6 November 2021, 08:58 PM

Quote:

Originally Posted by ts3

This is a regular complaint on here but for me it hasn't been an issue. I have been wearing my 5711 a lot over the past 18 months and exactly once a stranger asked about my watch. And I am living in the city and not in the Alps near me.

It's the same here in the Western wilderness. No one notices my Nautilus and only once, when I was wearing a Daytona, has anyone commented on a watch I was wearing. I have had a couple of folks ask me what time it was but that wasn't particularly scary.

GreenLantern · 7 November 2021, 01:11 AM

Quote:

Originally Posted by Ichiran

Wow 17% seller plus 26% buyer's. That's a sound business model.

Auction houses are the greatest scam in my opinion.

But, I know I'm going to get a lot of flack for saying that. Auction houses are also deeply ingrained in the high-end "everything" world (cars, art, collectibles, watches, jewelry).

scurfa · 7 November 2021, 01:36 AM

Not all the auctions are the same regarding fees, I have one that gives me the full sales price and they click on the buyers fee, some charge 10% after a certain amount and the larger ones charge the whopper fees, it’s worth mentioning that a lot of the record prices are realised on the watches (or art) that belongs to the auction house itself.

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shaunylw · 7 November 2021, 01:59 AM

Quote:

Originally Posted by joa

i guess USD 82k (CHF 75k), as Phillips takes not just 26% from the buyer but also 17% from the seller.

Selling there without a proper reserve price set is dangerous, would not recommend.

Sounds like phillips is asking for someone to take their business away. They don’t provide a service worth 43%, what a joke.

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qrc36 · 7 November 2021, 02:11 AM

It's definitely not 17% for the seller, at least not when selling a hot Patek or Rolex piece.

I recently auctioned off a hot piece via Phillips, was charged 4% commission.

shaunylw · 7 November 2021, 03:30 AM

Quote:

Originally Posted by qrc36

It's definitely not 17% for the seller, at least not when selling a hot Patek or Rolex piece.

I recently auctioned off a hot piece via Phillips, was charged 4% commission.

4% seems incredibly fair

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joa · 7 November 2021, 04:17 AM

i stand corrected, i mixed up philipsauctions and phillips..! (was looking at this: https://www.philipsauctions.com.au/sellers.html )

thanks for the info @qrc36 !

joa · 8 November 2021, 06:32 AM

talking about the phillips auction from this weekend - what's your take on it?

https://www.phillips.com/auctions/auction/CH080221

it seems to me (subjectively) that todays (Nov 7 '21) session had more enthusiastic bidding than the Friday session (Nov 5 '21).

On some vintage pieces the buyers had no inhibitions to write huge checks... a Roles for 1.7 Mio or so...

And, it was, let's say .. interesting... to see that somebody paid, fees included, CHF 144'900 (USD 158'700) for a white dial 5711.. No limited edition or so, just a plain white 5711 from 2016.

GreenLantern · 8 November 2021, 10:36 AM

Quote:

Originally Posted by joa

talking about the phillips auction from this weekend - what's your take on it?

https://www.phillips.com/auctions/auction/CH080221

it seems to me (subjectively) that todays (Nov 7 '21) session had more enthusiastic bidding than the Friday session (Nov 5 '21).

On some vintage pieces the buyers had no inhibitions to write huge checks... a Roles for 1.7 Mio or so...

And, it was, let's say .. interesting... to see that somebody paid, fees included, CHF 144'900 (USD 158'700) for a white dial 5711.. No limited edition or so, just a plain white 5711 from 2016.

Just too much money floating around these days. People don't know where to put it, so everything gets inflated.

Ichiran · 8 November 2021, 11:21 AM

Not forgetting the still-in-production 5740 and 5990/1R that both were sold for CHF 352,800 ~ USD 386,640 inclusive of buyer's premium.

7 November 2021, 01:36 AM	#203
scurfa "TRF" Member Join Date: Jul 2007 Location: Sunderland Posts: 1,264	Not all the auctions are the same regarding fees, I have one that gives me the full sales price and they click on the buyers fee, some charge 10% after a certain amount and the larger ones charge the whopper fees, it’s worth mentioning that a lot of the record prices are realised on the watches (or art) that belongs to the auction house itself. Sent from my iPhone using Tapatalk __________________ Instagram @scurfawatches

7 November 2021, 04:17 AM	#207
joa "TRF" Member Join Date: Jun 2021 Location: Europe Posts: 498	i stand corrected, i mixed up philipsauctions and phillips..! (was looking at this: https://www.philipsauctions.com.au/sellers.html ) thanks for the info @qrc36 ! __________________ RLX: 116520 White, 116520 Black, 116710BLNR, 126710BLRO, 116400, 126610LN, 114060 \| AP: 15300ST \| PP: 5711/1A-011, 5146G-010

8 November 2021, 06:32 AM	#208
joa "TRF" Member Join Date: Jun 2021 Location: Europe Posts: 498	talking about the phillips auction from this weekend - what's your take on it? https://www.phillips.com/auctions/auction/CH080221 it seems to me (subjectively) that todays (Nov 7 '21) session had more enthusiastic bidding than the Friday session (Nov 5 '21). On some vintage pieces the buyers had no inhibitions to write huge checks... a Roles for 1.7 Mio or so... And, it was, let's say .. interesting... to see that somebody paid, fees included, CHF 144'900 (USD 158'700) for a white dial 5711.. No limited edition or so, just a plain white 5711 from 2016. __________________ RLX: 116520 White, 116520 Black, 116710BLNR, 126710BLRO, 116400, 126610LN, 114060 \| AP: 15300ST \| PP: 5711/1A-011, 5146G-010

28 January 2021, 04:32 PM	#184
GreenLantern "TRF" Member Join Date: Oct 2016 Location: Montana Posts: 3,223	There's usually some still in the production line (scheduled for production) when the run-out list hits. Dwindles pretty fast, though.

6 November 2021, 05:30 PM	#195
Ichiran 2024 Pledge Member Join Date: Jan 2018 Real Name: Michael Location: Dotonbori Watch: Mostly blue dials Posts: 7,710	Yesterday at the Geneva Watch Auction, a 2016 5711 blue was auctioned for CHF 113,400 ~ USD 124,300. The amount was inclusive of 26% buyer's premium (hammer price was CHF 90,000 ~ USD 98,700). https://www.phillips.com/detail/pate...pe/CH080221/69

6 November 2021, 06:29 PM	#196
GreenLantern "TRF" Member Join Date: Oct 2016 Location: Montana Posts: 3,223	I miss the days when no one knew what I was wearing when I wore my 5711. "Hey, that's a really nice Seiko!"

7 November 2021, 02:11 AM	#205
qrc36 "TRF" Member Join Date: Nov 2016 Location: HKG Posts: 275	It's definitely not 17% for the seller, at least not when selling a hot Patek or Rolex piece. I recently auctioned off a hot piece via Phillips, was charged 4% commission.

8 November 2021, 11:21 AM	#210
Ichiran 2024 Pledge Member Join Date: Jan 2018 Real Name: Michael Location: Dotonbori Watch: Mostly blue dials Posts: 7,710	Not forgetting the still-in-production 5740 and 5990/1R that both were sold for CHF 352,800 ~ USD 386,640 inclusive of buyer's premium.

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