Breaking News - Price Drop on 5711!

[AK797]

Chronext, the big Euro dealer, has actually cut the price of the 5711 by 2%. Not seen this before. They were probably pushing too hard, but still have another one there for over £40K. Still looks like a possible ceiling.

https://www.chronext.co.uk/patek-phi...-1a-010/M02538

[brandrea]

[tyler1980]

either that or now someone will think it's a deal and they need to jump on it quick

[AK797]

I've noticed the price of the 5711R has stagnated at £43K now for a couple of months as well. 5167 has also been at £20K for a few months.

[scarlet knight]

US stock market has been lower, erratic, US interest rates rising. Connection?

Or was the price reduction a typo?

[LAFLARE]

Why is there one for 41K and another for 37.6 when they are both the same watch in the same condition?

[jrs146]

Originally Posted by scarlet knight

US stock market has been lower, erratic, US interest rates rising. Connection?



Or was the price reduction a typo?

Could be. But it seems way to quick for a price adjustment based on these factors. Interesting though.


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[tyler1980]

Originally Posted by LAFLARE

Why is there one for 41K and another for 37.6 when they are both the same watch in the same condition?

because when you call they can say, "sorry we just sold that one, but we do have another one available"

... or one just came with the travel case instead of the wood box since its a cheap Patek

[thomaspp]

Funny. I actually think that crazy market has finally topped out though. I can see a premium being paid for 5711 5712s etc but not like it has been....


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[PJ S]

……

[Vipes]

You got me good.

[HorologyK]

Whatever


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[tng11]

Neil wins the "clickbait of the day" award!

[tonupbklyn]

Originally Posted by AK797

I've noticed the price of the 5711R has stagnated at £43K now for a couple of months as well. 5167 has also been at £20K for a few months.

still looking for one below retail...unlikely?
i feel the R model doesn't have the kind of rabid demand as the SS variants of 5711/12.

[tyler1980]

Originally Posted by tonupbklyn

still looking for one below retail...unlikely?
i feel the R model doesn't have the kind of rabid demand as the SS variants of 5711/12.

i doubt you will get a discount but a £4k spread on retail vs secondary can probably be negotiated down a bit.

IMO that spread isnt big enough to make it flippable as dealers are going to offer below retail on a new one if you are selling. That should make it easier to source at retail, in theory.

[Sam Philip]

They have even listed 5146G and R versions above MSRP. Those watches are readily available at ADs and can be had from the AD with a very decent discount.

[dmash]

Hopefully this is the beginning of the downward spiral. I actually thought it would last a little bit longer though. Feel sorry for guys who paid these ridiculous markups thinking it would continuously climb, nothing is forever, especially when it’s something still in production.

[tyler1980]

Originally Posted by dmash

Hopefully this is the beginning of the downward spiral. I actually thought it would last a little bit longer though. Feel sorry for guys who paid these ridiculous markups thinking it would continuously climb, nothing is forever, especially when it’s something still in production.

2% off of an already above market price isnt a downward spiral. Its more in line with the rest of the secondary dealers.

I think the rise is about topped out, but its still listed at almost $53k. i think 50k ish is a pretty stable number until the global economy tanks.

the other one they have is listed closer to $60k... so i think they found the market resistance

[incontrol]

I thought this would happen sooner rather than later. Now let’s see if Patek increases production a little to cash in on the new pricing.


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[JR16]

For a second the thread title got me excited that PP reversed their recent 20% price increase ... :sigh:


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[dmash]

Originally Posted by tyler1980

2% off of an already above market price isnt a downward spiral. Its more in line with the rest of the secondary dealers.

I think the rise is about topped out, but its still listed at almost $53k. i think 50k ish is a pretty stable number until the global economy tanks.

the other one they have is listed closer to $60k... so i think they found the market resistance

Hence me stating ‘hopefully this is the start’