Auctioned: PP 5711 Green 1000% ++ Markup

[JacksonRain]

https://www.instagram.com/p/CRltH2oh...um=share_sheet

The thing is a beauty, but it's in production and retails less than 35k but actioned for 490k!

So relative to the markups for the stainless steel Rolex models, the ladder are a bargain!!!

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[Tmac478]

Ridiculous! Beautiful watch but not worth anywhere near 1/2 mil.

[khalifam]

Originally Posted by JacksonRain

https://www.instagram.com/p/CRltH2oh...um=share_sheet

The thing is a beauty, but it's in production and retails less than 35k but actioned for 490k!

So relative to the markups for the stainless steel Rolex models, the ladder are a bargain!!!

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That is absolutely mental. Still in production!!!

I read somewhere the president of PP was saying even his own son can't (allegedly) get the new 5711!



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[JacksonRain]

Originally Posted by khalifam

That is absolutely mental. Still in production!!!

I read somewhere the president of PP was saying even his own son can't (allegedly) get the new 5711!



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Correct. I read that too.

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[Soarer]

Yep, mental is the right word.


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[214270Explorer]

Winner beat me by one dollar.

[khalifam]

Originally Posted by JacksonRain

Correct. I read that too.

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Makes me want one even more

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[cbalster]

Originally Posted by khalifam

That is absolutely mental. Still in production!!!

I read somewhere the president of PP was saying even his own son can't (allegedly) get the new 5711!



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They are marketing geniuses. Of course his son could have one. We are the butt of that joke.

[Old Geezer]

Hey, it's only money. If you are sitting on your $500M yacht sipping champagne, $500K is pocket change

[Grapenut]

"Exclusively available for the best clients of Patek Philippe boutiques."

Could have quickly became one for that amount of spend, and have a lot more great references to show for it. A fool and his money...

[kieselguhr]

You guys are gawking over watch values, meanwhile my 16yo nephew is making more money than I am by selling gifs for tens of thousands of dollars

[dkg1616]

Was this serial #1? Either way ridiculous

[macrowatch]

Originally Posted by kieselguhr

You guys are gawking over watch values, meanwhile my 16yo nephew is making more money than I am by selling gifs for tens of thousands of dollars

That’s a nice % markup too!

[kieselguhr]

Originally Posted by macrowatch

That’s a nice % markup too!

Super proud of him for capitalizing on opportunity at his age!

[Vince_76]

Ridiculous (but beautiful watch, though I prefer the blue). Would love to hear the story behind the winning bidder.

[seosub]

There is a guy I follow on instagram that wears the new green model regularly. Seems like a pretty regular guy - doctor or something along those lines. Must have had a great AD.

[dannyp]

It’s nuts but I’m wondering if people perceive this as similar to the platinum Nautilus that goes for a similar sum: strictly limited production and no more to come when current run is come. After all, the difference in actual material value of the incorporated platinum vs. steel in this context is minimal.

[Corius]

I hope the auction winner gets his watch or we're going to have an awfully long thread about it

[dannyp]

Originally Posted by khalifam

That is absolutely mental. Still in production!!!

I read somewhere the president of PP was saying even his own son can't (allegedly) get the new 5711!



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“I already gave him a white one for high school graduation and a blue last year for Christmas; note the ungrateful little b&$:/rd wants green, too?! Enough! I’m cutting him off! Let him spend his trust fund with great market like everyone else and see what the real world is like!”

Probably sounded better in the original French, though…

[nachopc]

What is going on with green ……….


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[enjoythemusic]

Does anyone actually believe auction houses anymore? I don't, as it appears they are easy to manipulate to generate headlines like this.

[ks58]

A beautiful watch. Wonder if it'll be worth more than 490k one day!

[sparksgmt]

haha, the watch world is upside down right now. More power to the buyer, but this seems foolish for a new watch without any historical connections.

[faz]

This is how you spend easily earned limitless money.

No one who has to work for a living and earn hard earned cash will ever pay that kind of mark up on any watch, never mind a SS Patek.


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[turkeysub93]

Recently watched an interview with Stern where he stated that he did not want the Nautilus to become Patek's identity and that he resents those that hoard watches in their safe rather than wearing them (paraphrasing). Kind of funny to see this as the exact antithesis of that...

[ugoblue]

Talk about arbitrage.

[stockae92]

More power to the guy who can afford to drop that kind of cash on it. If you have more cash rolling in than you can deal with it, paying stupid money for a watch is just like regular people buying a T-Shirt. I say why not. :)

[enjoythemusic]

Hmmmm, maybe my bad. Just realized that's less than 20 BTC (@$1 each). For less than $20, sure, why not.

I wouldn't, but someone seems to have. Good for them!

[Master_Grogu]

Originally Posted by faz

This is how you spend easily earned limitless money.

No one who has to work for a living and earn hard earned cash will ever pay that kind of mark up on any watch, never mind a SS Patek.

Yep. I doubt that kind of buyer would pass a strict KYC/AML check to be honest.

[SDR581]

Well...It IS the very first green PP 5711 produced for sale...So I guess that is their justification for spending an obscene amount amout of $$. Maybe it comes signed as the first production watch with green dial??