ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
11 February 2015, 12:04 AM | #61 |
"TRF" Member
Join Date: Dec 2010
Real Name: Mike G
Location: Ohio
Watch: Rolex-Patek-AP
Posts: 3,064
|
|
11 February 2015, 12:19 AM | #62 |
2024 Pledge Member
Join Date: Nov 2012
Location: USA
Watch: addiction issues
Posts: 37,004
|
Cows are flying. Glad I didn't pay msrp or I'd be pissed. Anyone have any info on Canada?
|
11 February 2015, 12:44 AM | #63 |
"TRF" Member
Join Date: Oct 2013
Location: istanbul
Posts: 28
|
Just got of the phone with the Boutique in İstanbul (who sells based on a CHF price list)
After talking with the HQ, they confirmed that USD based list prices are +7%, EUR based list prices are +3%, HKD/Most Asia price lists -3% Please shout if you hear anything different. It is strange that USD prices are increasing less than EUR, given EUR depreciated more against the CHF |
11 February 2015, 12:59 AM | #64 |
"TRF" Member
Join Date: May 2009
Location: Singapore
Posts: 568
|
I am pissed. I jus got a 5711 not too long ago
|
11 February 2015, 01:01 AM | #65 |
"TRF" Member
Join Date: Oct 2013
Location: istanbul
Posts: 28
|
|
11 February 2015, 01:04 AM | #66 |
"TRF" Member
Join Date: May 2007
Location: .
Posts: 17,898
|
No joke.
Just got off the phone with my Patek AD--this is all true. Should have NEW price sheet in the next day or so and will post. |
11 February 2015, 01:06 AM | #67 | |
"TRF" Member
Join Date: Aug 2012
Location: ZRH
Posts: 1,209
|
Quote:
|
|
11 February 2015, 01:10 AM | #68 | |
"TRF" Member
Join Date: Sep 2014
Location: ny
Posts: 147
|
What! That 5711 is only 22.3k usd :O msrp here is 26k last month!
Quote:
|
|
11 February 2015, 01:21 AM | #69 | |
"TRF" Member
Join Date: Jan 2011
Real Name: gus
Location: East Coast
Watch: APK & sometimes Y
Posts: 26,076
|
Quote:
Still a bit of a challenge to find 5711 here in the US.
__________________
|
|
11 February 2015, 01:25 AM | #70 |
"TRF" Member
Join Date: Sep 2014
Location: ny
Posts: 147
|
|
11 February 2015, 01:31 AM | #71 |
2024 Pledge Member
Join Date: Nov 2012
Location: USA
Watch: addiction issues
Posts: 37,004
|
|
11 February 2015, 01:32 AM | #72 |
Banned
Join Date: Apr 2011
Location: USA
Posts: 1,339
|
Just got off the phone with Bettridge in Greenwich, heard the same. ~7% across the board
|
11 February 2015, 01:43 AM | #73 |
TRF Moderator & 2024 DATE-JUST41 Patron
Join Date: Dec 2007
Real Name: Ken
Location: SW Florida
Watch: One on my wrist.
Posts: 63,545
|
Swiss 5% decrease
US 7% decrease Asia 3% decrease Hong Kong 7% decrease Japan 5% increase Letter also states done in order to control all flow into grey market to grey dealers. They also state they will review this in June 2015 and this is temporary fix.
__________________
SPEM SUCCESSUS ALIT |
11 February 2015, 01:46 AM | #74 |
"TRF" Member
Join Date: Apr 2013
Location: HK
Watch: AP ROC, Nautilus
Posts: 1,657
|
I can see why they want to crimp grey dealers for Patek watches. Maybe HK PP watches will finally be sold out - I was wondering what all the fuss was with all the waits for watches when I see 3 5711s in a block and a bunch of hard to find pieces according to his forum. Guess HK was just overpriced!
__________________
"We must use time wisely and forever realize that the time is always ripe to do right" -Nelson Mandela "It is not our abilities that show what we truly are. It is our choices" -Dumbledore Instagram: horolj_ |
11 February 2015, 02:17 AM | #75 |
Banned
Join Date: Apr 2013
Location: USA
Posts: 3,578
|
luckily only 3 of my PP watches are currently being produced which are affected. However, it still is a sore point. Nobody likes to lose 7% in value in one day. My question is what do they do with their customers that payed recently 7% more? Now their product, which is not cheap, is worth 7% less. As others have mentioned, AP did this a few years ago as well. From what I recall, if purchased at an AD, the AD refunded the difference.
|
11 February 2015, 02:22 AM | #76 |
2024 Pledge Member
Join Date: Nov 2012
Location: USA
Watch: addiction issues
Posts: 37,004
|
I feel they are throwing their ADs under the bus at least in the short term. How many pissed off customers bought into a potential increase, and possibly accepted a less aggressive price in the past month.
Not to mention US ADs aren't stocked to the gills like some in Asia etc. And from here we have an admission of further pricing changes in the short term. Removes a touch of that trademark solidarity one feels when putting money into a new patek. Of course just my pondering thoughts. Certainly they know the details on how grey is effecting their supply chain. |
11 February 2015, 02:31 AM | #77 |
"TRF" Member
Join Date: Aug 2013
Location: Europe
Posts: 615
|
The Netherlands confirms +7% for europe/Euro countries.
|
11 February 2015, 02:36 AM | #78 |
"TRF" Member
Join Date: Aug 2013
Location: Toronto
Posts: 83
|
5711 for $22K almost makes it worthwhile to make a trip to HK... almost.
I don't see how this would REALLY affect grey market dealers, like the ones popular on these very forums. Wouldn't they just buy more and the MSRP / grey market price spread be even greater? I do see this killing resale values though. Sorry for you guys who purchased recently. |
11 February 2015, 02:51 AM | #79 |
"TRF" Member
Join Date: Mar 2014
Location: NYC / Milan
Watch: 6263
Posts: 3,938
|
Very helpful, thanks Ken.
|
11 February 2015, 03:03 AM | #80 |
"TRF" Member
Join Date: Sep 2012
Location: NYC/NJ
Posts: 1,107
|
i just placed an order last week with my AD. I am hoping there will be a price adjustment when it arrives next month.
|
11 February 2015, 03:18 AM | #81 |
2024 Pledge Member
Join Date: May 2011
Real Name: Duey
Location: Maui
Watch: Too Many To List
Posts: 3,583
|
Thanks Ken - It looks like it's time to add a PP to the collection pot
|
11 February 2015, 03:22 AM | #82 |
"TRF" Member
Join Date: Jul 2014
Location: Honolulu
Watch: Rolex, PP
Posts: 235
|
This sucks...I just bought my PP in july and now this.... :(
__________________
Patek Philippe 5167, Rolex DJ 116234, Omega Seamaster 300M, Breitling Emergency Mission |
11 February 2015, 03:25 AM | #83 |
"TRF" Member
Join Date: May 2009
Location: Singapore
Posts: 568
|
i kinda lost respect for the company. esp since I got my 5711 a few days back only and now this.
i tht the least they could do is remain status quo and not increase price like the other brands. This will just drive their prdouct's value down. Is PP really that hard up with sales? |
11 February 2015, 03:32 AM | #84 |
"TRF" Member
Join Date: Jan 2011
Real Name: gus
Location: East Coast
Watch: APK & sometimes Y
Posts: 26,076
|
Lots of sour grapes
__________________
|
11 February 2015, 03:32 AM | #85 | |
"TRF" Member
Join Date: Sep 2014
Location: ny
Posts: 147
|
Quote:
i think price decreases hurt a brand's image pretty badly. i'm not aware of other luxury brands doing this (in fact, my gf who has been eyeing a chanel bag, just observed another price increase. for like the 5th year in a row now). anyway PP probably has their reasons but doesn't make us feel better for recent purchasers. |
|
11 February 2015, 03:32 AM | #86 |
Banned
Join Date: Apr 2013
Location: USA
Posts: 3,578
|
|
11 February 2015, 03:39 AM | #87 | |
"TRF" Member
Join Date: Jul 2014
Real Name: Brian
Location: Huntington Beach
Watch: Daytona
Posts: 889
|
Personally I think they're losing their sense of direction, and/or they realize in certain markets they were already too overpriced. My fear is that the price reductions may continue. Problem for me is...why 7% across the board in the U.S.? The same guy that can afford 46k for an annual calendar can afford 50k for an annual calendar. Does it really do anything at all except agitate current owners? Except for what Ken says, and that's to tighten the noose on the grey market. Understandable, but maybe tighten the supply chain and choke the AD's about where they're selling them off to instead of changing prices would have been a better way to do it.
I think Patek is way too behind technologically and perhaps doesn't realize the sensational power of the Internet over their pricing model and how quickly the grey market has access to the entire World through Instagram, Facebook, Google, etc. Quote:
|
|
11 February 2015, 03:43 AM | #88 |
"TRF" Member
Join Date: May 2012
Location: hk
Posts: 691
|
Seems like PP is raising price globally except HK going opposite direction. Any adjustments in Macau I wonder?
|
11 February 2015, 03:48 AM | #89 |
"TRF" Member
Join Date: May 2009
Location: Singapore
Posts: 568
|
I feel its justified. Jus a few days ago, i was negotiating with the AD for a 1-5% discount and was told that pp never lowers its prices and they are controlled. about how prestigious they are and hence their pricing blah blah b Ah I guess its all sales talk. Pp does indeed give discounts! |
11 February 2015, 04:02 AM | #90 | |
"TRF" Member
Join Date: Jul 2014
Real Name: Brian
Location: Huntington Beach
Watch: Daytona
Posts: 889
|
So I wonder then if they're lowering the AD profit margin? Meaning they're reducing MSRP 7% in the U.S., but keeping the dealer invoice the same? That would really curb dealer discounts actually...
Quote:
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.