PP Purchase Question

[Keiko1811]

I am looking to acquire my first Patek and its one that caught my attention a few years ago. Its a 5124. My question is the store wont provide the serial number until after I make the purchase. I simply wanted to verify with PP it wasn't stolen. Should I be concerned? The watch does not have box/papers

[dauster]

Originally Posted by Keiko1811

I am looking to acquire my first Patek and its one that caught my attention a few years ago. Its a 5124. My question is the store wont provide the serial number until after I make the purchase. I simply wanted to verify with PP it wasn't stolen. Should I be concerned? The watch does not have box/papers

Is it an AD with a preowned program or a grey dealer? If it’s a grey dealer, I would only trust them if they are very reputable. Then again not sure who actively would fake a 5124 but stolen is a possibility. I would personally get one with box and papers even if it’s $1k or so more. Plenty available on chrono


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[Keiko1811]

Thanks. Its a grey dealer. Supposed to have a good rep but its my first time buying from them.

[Soleless Shoes]

It's my understanding that most reputable dealers secure a copy of the archive from Patek before listing a preowned piece with no papers. The archive relieves a lot of concerns and would confirm it wasn't a reported stolen watch.

[GGGMT]

Originally Posted by Soleless Shoes

It's my understanding that most reputable dealers secure a copy of the archive from Patek before listing a preowned piece with no papers. The archive relieves a lot of concerns and would confirm it wasn't a reported stolen watch.

Totally this. I would not under any circumstances buy a modern PP without BP. If someone had a gun to my head, ok, I’d buy without BP but never ever without an extract from the archives.


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[Calatrava r]

Originally Posted by Soleless Shoes

It's my understanding that most reputable dealers secure a copy of the archive from Patek before listing a preowned piece with no papers. The archive relieves a lot of concerns and would confirm it wasn't a reported stolen watch.

I don't think most dealers do this. It takes quite a while to get the abstract. I see a lot of watches listed for sale with it, with it on order, or no mention of it at all. For ones with an older extract, thefts occurring after the extract was issued would not be on record with PP. I wonder if all thefts are actually reported to PP in any event. Some owners may not think to do it.

[Keiko1811]

This is quite interesting and I appreciate the feedback. I will pass on this one. There just seem to be too many issues. I was able to find the serial number on the watch tonight but still, there seems to be something not quite right. Trusting my gut on this one.