Has the watch world gone mad?

[steeevvvooo]

There is certainly a bubble going on in many asset classes as you only have to look at supercars which have similar dynamics with long waiting lists and favoured customers. I was watching old Top Gears recently as was gobsmacked by how “low” some of the prices were for the then new supercars. 911R and GT3 RS being listed for hundreds of thousands over list at the moment spring to mind.

If you are buying for speculation you should be prepared to take a bath if you get it wrong. I think the best approach I spending money you can afford to not have to touch and owning interesting pieces.

[R!$]

Originally Posted by psv

of course the world has gone mad. i blame Hodinkee and the influx of all the trust fund babies and bankers :-)

[Gh0st0]

Originally Posted by Peggi

After many retailers closed the list for 5711/1A people have been going crazy and signing up for waiting lists for any Nautilus piece, regardless of material

What are they actually selling for? Are people here buying grey market or from AD's?

5711, seen a couple in the mid 40k

[lapince]

Originally Posted by ezinhk

don’t worry, prices will come down when the markets crash...but PP vs bitcoin...lol

I am not comparing the two, but where they are close is that the market seems like a bubble which is just waiting to pop

[Ichiran]

A double-sealed 3712 went for CHF156,250 at the Phillips auction yesterday.

https://www.phillips.com/detail/PATE...PE/CH080218/57

57_001.jpg

[thomaspp]

Originally Posted by Ichiran

A double-sealed 3712 went for CHF156,250 at the Phillips auction yesterday.



https://www.phillips.com/detail/PATE...PE/CH080218/57



Attachment 996821

This to me makes a lot more sense than 5711 prices... and/or Tiffany stamps


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[Daytonaman799]

Yes...crazy for sure

[Hairdude1]

Originally Posted by RussW

Trust me, Bruno (Unknown) is the most knowledgeable member on this forum for all matters 5070 related.

Bruno is the Kid of the 5070

[1688]

Originally Posted by tchaic

Come on recession!!! I want a 5650, 5522, and GULP 5711P non 40th.

Will need a lot more dough now to purchase a 5711P non 40th...

https://www.christies.com/lotfinder/...2-0ec16ed65337

[R!$]

Absolutely ridiculous now

[1688]

The haves and the have nots are now in a much GREATER disparity... This is creating a pool of "wanna be" individuals whom are bidding at these ridiculous prices!
I wonder if these watches will be worn or just left to spend its days in a safe somewhere. I know Patek definitely doesn't look too fondly of their watches being kept in a safe and not seeing the light of day...
Watches NEED to be worn people!!

[daveo5]

Yes Persons buying now will be paying through the nose for their bragging rights.


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[s.m.b.]

Originally Posted by 1688

The haves and the have nots are now in a much GREATER disparity... This is creating a pool of "wanna be" individuals whom are bidding at these ridiculous prices!
I wonder if these watches will be worn or just left to spend its days in a safe somewhere. I know Patek definitely doesn't look too fondly of their watches being kept in a safe and not seeing the light of day...
Watches NEED to be worn people!!

Not that it absolutely matters, but can you explain what you mean buy “wanna be”? Seems to me like the people bidding on and paying market value for hard to get watches would be squarely situated in the “haves” crowd.

[Greenp]

I wonder how much a 5711/P w/ Tiffany stamp would go for?

Originally Posted by 1688

Will need a lot more dough now to purchase a 5711P non 40th...

https://www.christies.com/lotfinder/...2-0ec16ed65337

[vtsnowplow]

are all these sports patek's selling at these high prices? Who is paying $50K for a 5711? I saw some 5167a for $29K.

[msolace]

I was in Hong Kong last week and visited a grey dealer that I usually deal with there. For sale was a pre-owned Nautilus 5980A in SS with White Dial. Final asking price was HK$ 525,000 (US$1 = HK$ 7.8) which ultimately comes down to US$ 67,307 So, I guess this is now the new norm in Patek pricing, and for which we should get used to... Welcome to pure insanity

(I posted a picture of the watch on my Instagram: rolexdelrey)

[dysondiver]

you can ask what you want for anything ,,, getting some one to pay it is a totally different thing.

[1688]

Originally Posted by Greenp

I wonder how much a 5711/P w/ Tiffany stamp would go for?

If a regular 5711 blue dial is $50k and Tiffany dial $125k...

5711P non 40th is $400k, what is the value of this??

[tchaic]

1,000,000

[msolace]

Sorry.. Looked up my notes, it should be HK$ 570,000 which translates to US$ 73,076

Originally Posted by msolace

I was in Hong Kong last week and visited a grey dealer that I usually deal with there. For sale was a pre-owned Nautilus 5980A in SS with White Dial. Final asking price was HK$ 525,000 (US$1 = HK$ 7.8) which ultimately comes down to US$ 67,307 So, I guess this is now the new norm in Patek pricing, and for which we should get used to... Welcome to pure insanity

(I posted a picture of the watch on my Instagram: rolexdelrey)

[msolace]

Originally Posted by tchaic

1,000,000