Price increase

[Helmi]

Lesson learnt the hard way

I am in market for a 5712 and 5711 (white) for more than a year. Throughout this year I was offered 5712 at 3k premium and the white 5711 at 2.5k premium. I turned down both offers and thought I would wait and get both at retail. Now I waited for a year, paid deposit (committed) and now have to pay 12k extra (a price of a Daytona).

Next time I will buy from grey and save myself all this hassle. Thanks PP

[tng11]

Originally Posted by Helmi

Lesson learnt the hard way

I am in market for a 5712 and 5711 (white) for more than a year. Throughout this year I was offered 5712 at 3k premium and the white 5711 at 2.5k premium. I turned down both offers and thought I would wait and get both at retail. Now I waited for a year, paid deposit (committed) and now have to pay 12k extra (a price of a Daytona).

Next time I will buy from grey and save myself all this hassle. Thanks PP

Me too. Could have paid a $3K premium for a BNIB 5712 in September and have been done with it.

Oh well, the way I see it now is I'm saving $33K as I'm walking away completely.

[Helmi]

Originally Posted by tng11

Me too. Could have paid a $3K premium for a BNIB 5712 in September and have been done with it.



Oh well, the way I see it now is I'm saving $33K as I'm walking away completely.

Do you think walking away will make you happy? I thought about it but I feel the itch will remain and I will buy it eventually may be even at higher value. Very undecided

[Passionata]

Originally Posted by andyol1966

My AD has confirmed the price increase is worldwide on the 5711/12.

Same confirmation from my AD too.

Okay and what s now the greys will try to sell the A over the R doubt the market will swallow it ,if PP smart (and they are) they will keep the R price as it is and they lock the secondary prices on the current level with much much less margin to the greys.fantastic job.

[lovetherolex]

Originally Posted by bobernet

Likely means a big shipment of steel Natilus getting invoiced to dealers after the change goes into effect.

Here comes your supply.

Did they need to separate the announcement from the rest of the line to accomplish that?

Presumably they could have announced all together, at Basel, or announced all together pre-Basel. I wonder why the separation.

[bobernet]

Thierry hates the Nautilus. Get the noise over with so it’s not a distraction to the new model introductions he really cares about.

[tng11]

Originally Posted by Helmi

Do you think walking away will make you happy? I thought about it but I feel the itch will remain and I will buy it eventually may be even at higher value. Very undecided

I'm going to eat my words on this one, but yes. I want a 5712 but I don't want it badly enough to pay $40K for it. In the past I've always been averse to paying MSRP for my pieces, but have done so for my 15202, FPJ CB and Hulk so far, so times are a changing.

To hedge my words I'm going to stay on the lists and decide in that moment. If the S&P is on an upswing that day, then I might feel generous enough to forget about that 7K difference.

[lovetherolex]

Originally Posted by Passionata

Same confirmation from my AD too.

Okay and what s now the greys will try to sell the A over the R doubt the market will swallow it ,if PP smart (and they are) they will keep the R price as it is and they lock the secondary prices on the current level with much much less margin to the greys.fantastic job.

That would be a nice job if the greys wouldn’t just raise prices on the r when demand spilled over to those.

[tng11]

Originally Posted by lovetherolex

Did they need to separate the announcement from the rest of the line to accomplish that?

Presumably they could have announced all together, at Basel, or announced all together pre-Basel. I wonder why the separation.

I think it's a brilliant move by them. Other non 5711/5712 models look more attractive now and there'll be a run on those pieces that have been collecting dust in AD showcases in the lead up to Basel.

[Helmi]

Originally Posted by Passionata

Same confirmation from my AD too.

Okay and what s now the greys will try to sell the A over the R doubt the market will swallow it ,if PP smart (and they are) they will keep the R price as it is and they lock the secondary prices on the current level with much much less margin to the greys.fantastic job.

Do you guys think the R 5711 at current prices is better value than ss with new prices? If yes, why?

[SC11]

Originally Posted by lovetherolex

Did they need to separate the announcement from the rest of the line to accomplish that?

Presumably they could have announced all together, at Basel, or announced all together pre-Basel. I wonder why the separation.

Is the price increase with immediate effect?

I’ve been told the UK price on the 5711a goes up on the 1st March

[tyler1980]

Originally Posted by SC11

Is the price increase with immediate effect?

I’ve been told the UK price on the 5711a goes up on the 1st March

does it matter? there is no stock at AD's anyway and if its march 1, i highly doubt Patek is in a hurry to ship any before that date to AD's. So by default, it's with immediate effect.

[SC11]

Originally Posted by tyler1980

does it matter? there is no stock at AD's anyway and if its march 1, i highly doubt Patek is in a hurry to ship any before that date to AD's. So by default, it's with immediate effect.

Well yes!

The comment I quoted asks the question in regards to a further price increase roll out post Basel (end of March)

Doesn’t seem logical for PP to declare a price rise on two models now post dating the 1st of March and then a full range price rise a month later?!

[tyler1980]

Originally Posted by SC11

Well yes!

The comment I quoted asks the question in regards to a further price increase roll out post Basel (end of March)

Doesn’t seem logical for PP to declare a price rise on two models now post dating the 1st of March and then a full range price rise a month later?!

i think there will be more increases of course. I just dont think we are going to get a ton of under the wire incomings pre-price rise.

I think they announced early so the focus at Basel will be on watches and not pricing. It will have time to sink in by the time that arrives and no one will be surprised.

[SC11]

Originally Posted by tyler1980

i think there will be more increases of course. I just dont think we are going to get a ton of under the wire incomings pre-price rise.

I think they announced early so the focus at Basel will be on watches and not pricing. It will have time to sink in by the time that arrives and no one will be surprised.

Who knows!

And from memory the last UK increase was even across the board so maybe they are getting the shockers out the way first?

[DLRIDES]

Originally Posted by Helmi

Lesson learnt the hard way

I am in market for a 5712 and 5711 (white) for more than a year. Throughout this year I was offered 5712 at 3k premium and the white 5711 at 2.5k premium. I turned down both offers and thought I would wait and get both at retail. Now I waited for a year, paid deposit (committed) and now have to pay 12k extra (a price of a Daytona).

Next time I will buy from grey and save myself all this hassle. Thanks PP

My exact situation and thoughts !

My Patek aspirations may now be beyond my current capabilities. :-(

[lovetherolex]

Originally Posted by SC11

Doesn’t seem logical for PP to declare a price rise on two models now post dating the 1st of March and then a full range price rise a month later?!

That does sound strange.

But then a few of those delivering the information have said the rest “will follow” at Basel. How many ways can you read that?

[SC11]

Originally Posted by lovetherolex

That does sound strange.

But then a few of those delivering the information have said the rest “will follow” at Basel. How many ways can you read that?

True!

Guess we’ll all know in due course...

5-10% isn’t ideal but happens! 20% is a kick in the almonds if you ask me!

[lovetherolex]

Originally Posted by SC11

True!

Guess we’ll all know in due course...

5-10% isn’t ideal but happens! 20% is a kick in the almonds if you ask me!

Especially when you've been trying to get your hands on one all this time without being raked over the coals, in one way or another.

Originally Posted by Helmi

I am in market for a 5712 and 5711 (white) for more than a year. Throughout this year I was offered 5712 at 3k premium and the white 5711 at 2.5k premium. I turned down both offers and thought I would wait and get both at retail. Now I waited for a year, paid deposit (committed) and now have to pay 12k extra (a price of a Daytona).

[AK797]

Originally Posted by lovetherolex

If they want to maintain the margins between steel and gold they’ll have to.

It would be pretty surprising if they didn’t raise prices across the board to some degree now, but it’s strange that they felt the urgent need to toss this price increase out ahead of Basel and all the rest like this instead of releasing price updates all at once

I think the reason is to calm the secondary market by saying to buyers we know there is a problem and we are addressing it, so no need to rush out and buy at these high prices and push them even higher. As they make more margin now, an increase in supply can also be implied to keep more downward pressure on prices, as well as confirming the Nautilus is not going to be made extinct.

[AK797]

Originally Posted by tng11

I'm going to eat my words on this one, but yes. I want a 5712 but I don't want it badly enough to pay $40K for it. In the past I've always been averse to paying MSRP for my pieces, but have done so for my 15202, FPJ CB and Hulk so far, so times are a changing.

To hedge my words I'm going to stay on the lists and decide in that moment. If the S&P is on an upswing that day, then I might feel generous enough to forget about that 7K difference.

As they say in the markets, don't let emotions dictate your decisions as prices have too much power, so you're right to wait till you have the watch in hand and then allow your feelings to guide you.

[RussW]

Originally Posted by AK797

I think the reason is to calm the secondary market by saying to buyers we know there is a problem and we are addressing it, so no need to rush out and buy at these high prices and push them even higher. As they make more margin now, an increase in supply can also be implied to keep more downward pressure on prices, as well as confirming the Nautilus is not going to be made extinct.

Do you really think they will increase production? I don’t see that myself and it would be a departure from Thierry’s philosophy he’s stated many times of keeping production low. I’m not sure Patek needs to be chasing margin on the 5711.

[lovetherolex]

Originally Posted by AK797

I think the reason is to calm the secondary market by saying to buyers we know there is a problem and we are addressing it, so no need to rush out and buy at these high prices and push them even higher. As they make more margin now, an increase in supply can also be implied to keep more downward pressure on prices, as well as confirming the Nautilus is not going to be made extinct.

I also think that a substantial increase in supply would be enough of a reversal that it's unlikely.

[tng11]

Originally Posted by AK797

As they say in the markets, don't let emotions dictate your decisions as prices have too much power, so you're right to wait till you have the watch in hand and then allow your feelings to guide you.

Indeed Neil. In the past I turned my nose up at the idea of ever paying MSRP for a watch. When I saw the 15202ST in the flesh and tried it on that rule went out the window for me and it turned out to be the right choice. Better to not cut off my nose to spite face when there's no downside to waiting for that call and then deciding at that time.

[Chiboy]

Originally Posted by tng11

Indeed Neil. In the past I turned my nose up at the idea of ever paying MSRP for a watch. When I saw the 15202ST in the flesh and tried it on that rule went out the window for me and it turned out to be the right choice. Better to not cut off my nose to spite face when there's no downside to waiting for that call and then deciding at that time.

I don’t know. Getting a deposit back feels like getting what Seinfeld would call (upper) “hand.”

I’ve been mulling that for a while with my SS Daytona deposit.

[GB-man]

If this isn’t the best time for PP to drop a white gold 5711/1G I don’t know when is. I don’t expect it but they’d sell like hot cakes.

[tonupbklyn]

good lord, is it really time to sell my 5712?!

[kilyung]

Originally Posted by RussW

Do you really think they will increase production?

I doubt it. That would have the effect of lessening the impact of the price increase.

[kilyung]

Originally Posted by tonupbklyn

good lord, is it really time to sell my 5712?!

Making me seriously contemplate letting my 5711 go.

[soundserious]

Originally Posted by kilyung

Making me seriously contemplate letting my 5711 go.

What would you consider a reasonable price for it? Just wondering.