Shreve in San Francisco/ Palo Alto lost Patek status

[hutchman]

Originally Posted by Ichiran

What a great collection you have. And a waste you lost all that spending record with this AD

Yes it's extremely frustrating. I was expecting 3 or more pieces in 2022 and Patek doesn't care in the least. In my past experience when a car dealership closes confirmed orders are transfered to another dealer not deleted. Now if I decide to continue to play the Patek game I'll have to buy $300k in worthless jewelry to be considered eligible to start at the bottom.

[Slumdogg]

Originally Posted by hutchman

Yes it's extremely frustrating. I was expecting 3 or more pieces in 2022 and Patek doesn't care in the least. In my past experience when a car dealership closes confirmed orders are transfered to another dealer not deleted. Now if I decide to continue to play the Patek game I'll have to buy $300k in worthless jewelry to be considered eligible to start at the bottom.

Have you tried contacting Patek directly? I'd imagine someone with your purchase history could maybe get a response. You're obviously a collector and a genuine enthusiast, which they claim to value, but who knows


Sent from my iPhone using Tapatalk

[Apheaven]

Fourtane is generally easy to work with. That said, you may want to revisit this later in summer as the market correction will likely deepen and investor type people step away from buying from the AD as it will be an immediate loss should they purchase for resale. Opening the door for the true watch fans.


Sent from my iPhone using Tapatalk

[77T]

Originally Posted by hutchman

Yes it's extremely frustrating. I was expecting 3 or more pieces in 2022 and Patek doesn't care in the least. In my past experience when a car dealership closes confirmed orders are transfered to another dealer not deleted. Now if I decide to continue to play the Patek game I'll have to buy $300k in worthless jewelry to be considered eligible to start at the bottom.

I can imagine your feelings and this idea may have already crossed your mind. Perhaps write personal appeal to Thierry - not an email, but a handwritten appeal. Ask for his introduction of you to the nearest PP dealer as a special collector.

I’d also get with the manager of your now ex-PP AD, Shreve. Surely s/he can coordinate a lunch with you and the manager of the nearby remaining PP AD. This would be a professional courtesy to get you more than an “off-the-street” shopper status there. And to share the 3 models s/he was sourcing for you.

Lastly, if none of that works, you do have an option that doesn’t mean spending $300k worthlessly.

Purchase 2ct loose GIA certified diamonds periodically. They aren’t worthless and can be held until the markup is overridden by future value appreciation.

All are just my in the spirit of sharing ideas. You have one of the best PP collections I’ve seen here. Good on ya…


Sent from my iPhone using Tapatalk Pro

[SBC1986]

Originally Posted by hutchman

Every Patek I own is from Shreve Palo Alto including a few not pictured. Shreve invited me golfing in Half Moon Bay, on a factory tour in Switzerland and to the Expo in NY City. Since I was notified of Shreve's Patek status several weeks ago I have called 4 AD's to introduce myself. No one is in the slightest interested in speaking to me or adding me to a waitlist for anything.

Great collection. I remember the first time this happened to me and I learned the hard way that a different shop doesn't care if you are a Patek or rolex collector. They only care if you have spent money with them. It sucks and I think rolex and Patek need to go direct and get to know their collectors. This is also why the AD loyalty game is a fools errand. On the bright side you have a great collection and it doesn't look like you fell into the trap of buying things you didn't want.

[Jackflash]

This is why I maintain a buying history with two ADs in different cities . It also helps me get my hands on pieces a little faster. Interesting to see how I seem to fall out of favour with one, then the other, but never both at the same time. They’re sometimes a little annoyed I’m ‘cheating on them’ with the other but honestly the way they treat collectors it serves them right. I just don’t get the logic of being allocated a hot piece with virtually no wait, only then to be flatly refused to even being put on a waiting list for another piece the following year!

Currently my reliable AD refuses to even call me back, whereas the former ‘no room on the list for you’ AD has put me on a list. Madness!


Patek 5146G, Patek 5167A, Rolex Daytona 116500LN, Rolex GMT II 116710LN, Rolex Datejust 116200, Rolex Day-Date 228235, Grand Seiko SBGE011, Breitling Intruder Reveil

[dauster]

Originally Posted by Jackflash

This is why I maintain a buying history with two ADs in different cities . It also helps me get my hands on pieces a little faster. Interesting to see how I seem to fall out of favour with one, then the other, but never both at the same time. They’re sometimes a little annoyed I’m ‘cheating on them’ with the other but honestly the way they treat collectors it serves them right. I just don’t get the logic of being allocated a hot piece with virtually no wait, only then to be flatly refused to even being put on a waiting list for another piece the following year!

Currently my reliable AD refuses to even call me back, whereas the former ‘no room on the list for you’ AD has put me on a list. Madness!


Patek 5146G, Patek 5167A, Rolex Daytona 116500LN, Rolex GMT II 116710LN, Rolex Datejust 116200, Rolex Day-Date 228235, Grand Seiko SBGE011, Breitling Intruder Reveil

I’m guessing the answer is simple sometimes there are more important clients in front of you and I’m guessing it changes over time … it’s a business after all. May I ask how many years and number of pieces you bought of each AD ?


Sent from my iPhone using Tapatalk

[fumanku]

The amount of entitlement if thread is astounding.

[dauster]

Originally Posted by fumanku

The amount of entitlement if thread is astounding.

welcome to the forum!!!

you mean spending hundreds of thousands or even millions and working on your relationship while being a fan & supporter of the brand and all of a sudden (with no fault of your own) the AD is cut off doesn't justify people being upset ?

[HMHM]

Wow! What made the legendary Eric Ku to appear on the forum all of a sudden?

[fumanku]

Sucks for many of us in the Bay Area that Shreve closed, but don’t think it’s fair to expect that any special treatment you previously were afforded would be transferred to a new relationship. As for why they were closed, of course only an unsubstantiated rumor at this point but let’s just say when asked to do a remodel, the answer should always be “with pleasure”.

[newonos]

Originally Posted by Jackflash

This is why I maintain a buying history with two ADs in different cities . It also helps me get my hands on pieces a little faster. Interesting to see how I seem to fall out of favour with one, then the other, but never both at the same time. They’re sometimes a little annoyed I’m ‘cheating on them’ with the other but honestly the way they treat collectors it serves them right. I just don’t get the logic of being allocated a hot piece with virtually no wait, only then to be flatly refused to even being put on a waiting list for another piece the following year!

Currently my reliable AD refuses to even call me back, whereas the former ‘no room on the list for you’ AD has put me on a list. Madness!


Patek 5146G, Patek 5167A, Rolex Daytona 116500LN, Rolex GMT II 116710LN, Rolex Datejust 116200, Rolex Day-Date 228235, Grand Seiko SBGE011, Breitling Intruder Reveil

Love it. Stick it to em' Jack Flash!

[newonos]

Since service between AD and patron is placed at issue in this thread, I will add this:

Yes, spending money, being a source of profit is one way to curry favor. But also not being a dick will take you far. I sense that some folks with large wallets have been dicks and wonder why their money is not getting them further. Here's why.

AD has lots of people wanting service. Nice people and dicks. That won't change. Some patrons have big money to spend, and are dicks. And they don't know they're dicks. Others have big money to spend, and are nice and gracious. Who would you rather work with if you're an AD?

I'm in the service industry, and have all sorts of clients. We are always finding ourselves relishing, enjoying the relationships we have with nice people who pay their bills and have manners and grace. We WANT to serve them with excellence. We also find ourselves wanting--even trying--to shed high net worth clients who are difficult, rude, or unkind.

Want to have a good relationship with an AD? Ask him/her about him/herself. Acknowledge them, take a general interest, and above all be gracious. Do it genuinely and you'd be amazed how far that will take you.

[fumanku]

Originally Posted by newonos

Since service between AD and patron is placed at issue in this thread, I will add this:

Yes, spending money, being a source of profit is one way to curry favor. But also not being a dick will take you far. I sense that some folks with large wallets have been dicks and wonder why their money is not getting them further. Here's why.

AD has lots of people wanting service. Nice people and dicks. That won't change. Some patrons have big money to spend, and are dicks. And they don't know they're dicks. Others have big money to spend, and are nice and gracious. Who would you rather work with if you're an AD?

I'm in the service industry, and have all sorts of clients. We are always finding ourselves relishing, enjoying the relationships we have with nice people who pay their bills and have manners and grace. We WANT to serve them with excellence. We also find ourselves wanting--even trying--to shed high net worth clients who are difficult, rude, or unkind.

Want to have a good relationship with an AD? Ask him/her about him/herself. Acknowledge them, take a general interest, and above all be gracious. Do it genuinely and you'd be amazed how far that will take you.

Now this guy absolutely gets it. Couldn’t have said it better myself. Please dm me directly, sir. There is a green 5711 waiting for you. (Just kidding)

[Jackflash]

Originally Posted by dauster

I’m guessing the answer is simple sometimes there are more important clients in front of you and I’m guessing it changes over time … it’s a business after all. May I ask how many years and number of pieces you bought of each AD ?


Sent from my iPhone using Tapatalk

About 10 years with each, and 6 pieces split 50:50


Patek 5146G, Patek 5167A, Rolex Daytona 116500LN, Rolex GMT II 116710LN, Rolex Datejust 116200, Rolex Day-Date 228235, Grand Seiko SBGE011, Breitling Intruder Reveil

[Jackflash]

Originally Posted by fumanku

The amount of entitlement if thread is astounding.

Never realised expecting an AD to call you back after you’ve dropped 6-figures counts as being entitled.


Patek 5146G, Patek 5167A, Rolex Daytona 116500LN, Rolex GMT II 116710LN, Rolex Datejust 116200, Rolex Day-Date 228235, Grand Seiko SBGE011, Breitling Intruder Reveil

[IBDOC]

Originally Posted by Jackflash

Never realised expecting an AD to call you back after you’ve dropped 6-figures counts as being entitled.

Analogy time: It is entitled to expect or demand a status match if your previous Airline/FFP of choice goes bankrupt. ”Do you know how much I’ve flown with X over the years?! DYKWIA??”

Whether one gets the match or not is completely at the whim of the Airline left standing. Hence it would be good with a due dose of humility.

[dchang81]

Not sure how helpful being nice works in this market....or maybe I am a dick....

[Jackflash]

Originally Posted by IBDOC

Analogy time: It is entitled to expect or demand a status match if your previous Airline/FFP of choice goes bankrupt. ”Do you know how much I’ve flown with X over the years?! DYKWIA??”

Whether one gets the match or not is completely at the whim of the Airline left standing. Hence it would be good with a due dose of humility.

Not sure the relevance of the analogy. I was simply stating my AD who is not bankrupt and whom I’ve been a repeat customer for 10 years now doesn’t even call me back


Patek 5146G, Patek 5167A, Rolex Daytona 116500LN, Rolex GMT II 116710LN, Rolex Datejust 116200, Rolex Day-Date 228235, Grand Seiko SBGE011, Breitling Intruder Reveil

[fumanku]

Originally Posted by Jackflash

Not sure the relevance of the analogy. I was simply stating my AD who is not bankrupt and whom I’ve been a repeat customer for 10 years now doesn’t even call me back


Patek 5146G, Patek 5167A, Rolex Daytona 116500LN, Rolex GMT II 116710LN, Rolex Datejust 116200, Rolex Day-Date 228235, Grand Seiko SBGE011, Breitling Intruder Reveil

I wasn't referring to you with my post. I was referring to those that expect/demand XYZ from new dealers they have never worked with.

All customers should be dealt with in a courteous manner, wether a frequent buyer or not. Courtesy however, is different from being allocated watches.

[IBDOC]

Originally Posted by Jackflash

Not sure the relevance of the analogy. I was simply stating my AD who is not bankrupt and whom I’ve been a repeat customer for 10 years now doesn’t even call me back


Patek 5146G, Patek 5167A, Rolex Daytona 116500LN, Rolex GMT II 116710LN, Rolex Datejust 116200, Rolex Day-Date 228235, Grand Seiko SBGE011, Breitling Intruder Reveil

Fumanku that you cited was responding to sentiments relevant to the thread topic as was I. If you’re upset that your AD doesn’t call you back then make a separate thread about it?

[dauster]

Originally Posted by fumanku

I wasn't referring to you with my post. I was referring to those that expect/demand XYZ from new dealers they have never worked with.

All customers should be dealt with in a courteous manner, wether a frequent buyer or not. Courtesy however, is different from being allocated watches.

I think OP and others like him are more upset about Patek Geneva not stepping and helping out ...

[IBDOC]

Originally Posted by dauster

I think OP and others like him are more upset about Patek Geneva not stepping and helping out ...

Don’t really see how it’s inherently more relevant for PP to step in and help out in this situation vs… I dunno, ”I wanna get my first Patek/Nautilus/Rare Handcraft but AD says they won’t sell me one”. If PP values the client in question they would/will step in. If not, then expecting otherwise is indeed quite entitled.

[dauster]

Originally Posted by IBDOC

Don’t really see how it’s inherently more relevant for PP to step in and help out in this situation vs… I dunno, ”I wanna get my first Patek/Nautilus/Rare Handcraft but AD says they won’t sell me one”. If PP values the client in question they would/will step in. If not, then expecting otherwise is indeed quite entitled.

I have no dog in this fight but I just don’t understand why Patek Geneva shouldn’t step in for clients that have a 12 piece collection and lost their AD relationship but I’m over it tbh if that’s entitled so be it


Sent from my iPhone using Tapatalk

[Cloudchaser]

Michael's (SA) demeanor change back in Februrary was the first indication this was happening.

They KNEW this was happening since January but played dumb for as long as they could. The boutique was very clear after January that this is happening with all PP ADs as they move toward a 100% boutique business model. There will be no PP non-boutique sales in short order.

But the Shreve team even deflected direct questions all along.

[SLWoodster]

If it is THE Fumanku, aka one of the bosses of vintage, aka the man with the ability change the entire vintage market for cartier then no. He on a totally diff level.


Fumanku doesn't call dealers. Dealers call Fumanku.


And Fumanku will pay close to market price.

Originally Posted by IBDOC

Fumanku that you cited was responding to sentiments relevant to the thread topic as was I. If you’re upset that your AD doesn’t call you back then make a separate thread about it?

[yessir69]

Originally Posted by Ubiquitous1984

One of my biggest watch-collecting fears (other than running out of cash!) is my AD being de-listed by Patek. The relationship that I have worked hard to build would be gone, and it would be almost impossible to re-build elsewhere.

I feel very sorry for the collectors who are affected by these de-listings.

Same here. I bought three Pateks from my local AD and they lost their account. And I'm not willing to get at the back of the line with all the others in Dallas.

Oh well. First world problems...

[fumanku]

Originally Posted by dauster

I have no dog in this fight but I just don’t understand why Patek Geneva shouldn’t step in for clients that have a 12 piece collection and lost their AD relationship but I’m over it tbh if that’s entitled so be it


Sent from my iPhone using Tapatalk

Patek doesn't allocate the watches, dealers do. Let's be honest here, those 12 pieces are all individually desirable and most people in the group would be happy to even have ONE of them at retail. If you ended up with a box full, you know what? The watch gods were smiling on you and you had a good run. Make a new friend at a new AD and see what happens, but I guarantee simply reading your resume off to them is going to get you nowhere.

[Arthur Daley]

Originally Posted by Cloudchaser

Michael's (SA) demeanor change back in Februrary was the first indication this was happening.

They KNEW this was happening since January but played dumb for as long as they could. The boutique was very clear after January that this is happening with all PP ADs as they move toward a 100% boutique business model. There will be no PP non-boutique sales in short order.

But the Shreve team even deflected direct questions all along.

Is this a prediction or rooted in some unique insight? Meaning, are you in possession of any first hand knowledge that Patek will go PP boutique and eliminate all ADs?

I ask because on the one hand I can understand it: greatly improve money being made by Patek by eliminating AD margin. Would very likely also drive prices up due to difficulty of acquisition- happened with FPJ.

On the other hand: PP have a fairly extensive and entrenched AD network with many loyal customers. Maybe that doesn't matter IF Patek has visibility into individual customer purchase history (which I think they do).

But sure - going direct would be extremely profitable for Patek, I'd imagine.

Sent from my SM-F700U1 using Tapatalk

[HMHM]

Originally Posted by Arthur Daley

Is this a prediction or rooted in some unique insight? Meaning, are you in possession of any first hand knowledge that Patek will go PP boutique and eliminate all ADs?

I ask because on the one hand I can understand it: greatly improve money being made by Patek by eliminating AD margin. Would very likely also drive prices up due to difficulty of acquisition- happened with FPJ.

On the other hand: PP have a fairly extensive and entrenched AD network with many loyal customers. Maybe that doesn't matter IF Patek has visibility into individual customer purchase history (which I think they do).

But sure - going direct would be extremely profitable for Patek, I'd imagine.

Sent from my SM-F700U1 using Tapatalk

If you see TS previous interviews, he has stated numerous times that PP will continue to engage with ADs to cater to their clients across the globe. They currently have no plans to go boutique only route like AP except for the 3 boutiques in Geneva, Paris and London. Future plans may change but that’s the current state. The main risk right now is who is Patek planning to cull in their AD line up. That is everyone’s greatest worry.