Application for Minute Repeater

[Ichiran]

Love the sound made by Patek's cathedral gongs.

My AD represented that all applications for minute repeater are approved at Patek HQ. Once approved, successful applicants will pay 50% as deposit, and the rest 3 to 4 years later upon completion.

Does anyone know what is Patek's criteria for their approval of minute repeaters? My SE doesn't know for sure but he said Patek HQ has approved the application for another customer who already owned a 5204.

Any input would be appreciated. Thanks.

[codecow]

I’d just apply and see what happens. You have been to Patek HQ before?

[Ichiran]

Originally Posted by codecow

I’d just apply and see what happens. You have been to Patek HQ before?

I'm going to the Salon and Museum in September but otherwise have never been there before. Do you think visiting in person helps?

[jamestucker]

Originally Posted by Ichiran

Love the sound made by Patek's cathedral gongs.

My AD represented that all applications for minute repeater are approved at Patek HQ. Once approved, successful applicants will pay 50% as deposit, and the rest 3 to 4 years later upon completion.

Does anyone know what is Patek's criteria for their approval of minute repeaters? My SE doesn't know for sure but he said Patek HQ has approved the application for another customer who already owned a 5204.

Any input would be appreciated. Thanks.

My AD said the applicant needs to have at least 10 pieces including at least 1 grand complication and at least a 3 year history with the same AD. Not all minute repeaters are approved by Patek. Waiting lists are 'closed' for pieces like 5531G, 6301P, 6002R, Grand master chime and possibly for 5316/50P, 5374/300P.

Price upon completion is usually different to the price on application. A friend of mine obtained a 5208P as his first minute repeater and he had to pay around £40000 extra when it was delivered around 2 - 3 years after the application was approved.

[HMHM]

Sorry Michael. Don’t own one unfortunately. But I think with what you have, it’s certainly a possibility for you. I don’t think there’s a fixed criteria for a MR allocation. Obviously the more Patek you have (which you do), the better. But a lot of it also depends on the AD making a strong case for you from what I’ve heard.

If I can be honest, I think you are the top echelon of Patek collectors already. The only thing left is the factory tour invite? If you get that, I think a MR is most certainly within grasp. All the best in your quest for the MR!

[Calatrava r]

They want customers who have bought several, at least 2 to 3, watches in the past and still own those watches they bought. They do not want the MRs coming on the used market soon after purchase. Selling of the watch by the original owner, devalues the whole heirloom idea and significance of the piece, in their view, given the time and effort required to make one and their selectivity of customers.

Having at least one grand complication is a must.

[brandrea]

Originally Posted by jamestucker

My AD said the applicant needs to have at least 10 pieces including at least 1 grand complication and at least a 3 year history with the same AD. Not all minute repeaters are approved by Patek. Waiting lists are 'closed' for pieces like 5531G, 6301P, 6002R, Grand master chime and possibly for 5316/50P, 5374/300P.

Price upon completion is usually different to the price on application. A friend of mine obtained a 5208P as his first minute repeater and he had to pay around £40000 extra when it was delivered around 2 - 3 years after the application was approved.

That’s really great information

[Ichiran]

Originally Posted by jamestucker

Price upon completion is usually different to the price on application. A friend of mine obtained a 5208P as his first minute repeater and he had to pay around £40000 extra when it was delivered around 2 - 3 years after the application was approved.

Thanks! This is an extremely valuable info.

Originally Posted by HMHM

The only thing left is the factory tour invite? If you get that, I think a MR is most certainly within grasp. All the best in your quest for the MR!

Thanks for your well wishes! I'm still deliberating over which MR to go for, hence the trip there to see them. I haven't been there before.

[codecow]

Originally Posted by Ichiran

I'm going to the Salon and Museum in September but otherwise have never been there before. Do you think visiting in person helps?

I think so. Once I went on their hosted tour I felt like I could get anything I could pay for and ended up getting my 5131R and 5522. Guessing if I had bought a 5270 or something like that I could probably get just about anything. I think at the time they were probably running US applications through HSWA first and they were on the same trip so they will have met you and know you personally. Not sure whether they handle things differently in other regions.

[Ichiran]

Originally Posted by codecow

I think so. Once I went on their hosted tour I felt like I could get anything I could pay for and ended up getting my 5131R and 5522. Guessing if I had bought a 5270 or something like that I could probably get just about anything. I think at the time they were probably running US applications through HSWA first and they were on the same trip so they will have met you and know you personally. Not sure whether they handle things differently in other regions.

I'm not aware if the Patek agent (Geneva Master Time) here and my AD still organize such trips to Geneva in recent times. Oftentimes they organize events locally for collectors instead, but I understand what you are saying about them knowing me.

Thanks for your input. The cost is another hurdle for me which I have to budget though

[Russell996]

[QUOTE=Ichiran;12836442]Love the sound made by Patek's cathedral gongs.]

Good hunting.

[GGGMT]

OP and Michael: keep us apprised of your journey, as it’ll probably be the closest I get!


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[uniqueMR]

Originally Posted by jamestucker

My AD said the applicant needs to have at least 10 pieces including at least 1 grand complication and at least a 3 year history with the same AD.

Price upon completion is usually different to the price on application and delivered around 2-3 years after the application was approved.

This is correct, spot on!!

And importantly, your Patek AD "needs" to make a strong case for you. AD plays a major role. Good Luck Michael. You deservie it!!

[unotaz]

If you only have one grand comp in your collection, then your chance of getting a minute repeater is very slim. Ideally, Patek wants you own a perpetual, perpetual chrono, celestial/or split second, before applying for a minute repeater.

Having 10 watches in your collection is just the minimum requirement. If you have 9 nautilus/aquanaut/calatravas + 1 grand comp, is not the same as having 1 celestial, 1 perpetual, 1 perpetual chrono, 1 split second chrono perpetual, 1 rare handcraft and a few nautilus/aquanaut.

Doing the factory tour and going with your AD along with your country's Patek reps to Geneva for a week will add a significant amount of bonus points in your application profile.

Originally Posted by Ichiran

Love the sound made by Patek's cathedral gongs.

My AD represented that all applications for minute repeater are approved at Patek HQ. Once approved, successful applicants will pay 50% as deposit, and the rest 3 to 4 years later upon completion.

Does anyone know what is Patek's criteria for their approval of minute repeaters? My SE doesn't know for sure but he said Patek HQ has approved the application for another customer who already owned a 5204.

Any input would be appreciated. Thanks.

[GGGMT]

Originally Posted by unotaz

If you only have one grand comp in your collection, then your chance of getting a minute repeater is very slim. Ideally, Patek wants you own a perpetual, perpetual chrono, celestial/or split second, before applying for a minute repeater.

Having 10 watches in your collection is just the minimum requirement. If you have 9 nautilus/aquanaut/calatravas + 1 grand comp, is not the same as having 1 celestial, 1 perpetual, 1 perpetual chrono, 1 split second chrono perpetual, 1 rare handcraft and a few nautilus/aquanaut.

Doing the factory tour and going with your AD along with your country's Patek reps to Geneva for a week will add a significant amount of bonus points in your application profile.

Curious, what if any of your acquisitions have been on the secondary market?


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[HMHM]

Originally Posted by GGGMT

Curious, what if any of your acquisitions have been on the secondary market?


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In the eyes of the Patek Law, one is innocent until proven guilty. You can sell 20 pieces and be a free man. The moment the Patek AD finds out, that’s when you have a lot of answering to do, especially if it’s within the first year…. Post warranty no one really bothers anymore, unless it’s something special. Then good luck. Of course, if one is a VVVVIP with 75 Patek and sold 5, many eyes are shut.

[azizu]

Originally Posted by Ichiran

Love the sound made by Patek's cathedral gongs.

My AD represented that all applications for minute repeater are approved at Patek HQ. Once approved, successful applicants will pay 50% as deposit, and the rest 3 to 4 years later upon completion.

Does anyone know what is Patek's criteria for their approval of minute repeaters? My SE doesn't know for sure but he said Patek HQ has approved the application for another customer who already owned a 5204.

Any input would be appreciated. Thanks.

I went to the Saloon not too long ago and was really disappointed. The reception was very very very cold. I got to do tons of tours in many different manufactures and independents but not Patek. I also went to the museum and wasn’t impressed. In the SA own words, the Saloon is like any other AD, they get allocated certain pieces every year and they sell it to their locals and perhaps other VVIP that have had profile over the years. The only benefit to visiting the Saloon is you can try any piece. But that’s it


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[unotaz]

As long the ones you sold falls outside of the 3-4 years mark, so that your AD didn't get in trouble for you selling, then you are fine.

Put it this way. If you sell your 5990 after a year of ownership and your AD gets red flagged for it from Patek corporate, then your AD won't be filing that application for you anyways

Originally Posted by GGGMT

Curious, what if any of your acquisitions have been on the secondary market?


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[unotaz]

That is correct. Going to the Geneva salon is not the same as doing the full factory tour at PP6 and the factory dial up north. Two completely different things.

Geneva salon is just a watch retailer. So there are no brownie points there.

Also, anybody can go tour the Patek Museum. But as part of the factory tour hosted by Patek, there is a special VIP tour of the Patek Museum and the Museum will be closed off to public for a few hours while you are there.

Originally Posted by azizu

I went to the Saloon not too long ago and was really disappointed. The reception was very very very cold. I got to do tons of tours in many different manufactures and independents but not Patek. I also went to the museum and wasn’t impressed. In the SA own words, the Saloon is like any other AD, they get allocated certain pieces every year and they sell it to their locals and perhaps other VVIP that have had profile over the years. The only benefit to visiting the Saloon is you can try any piece. But that’s it


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[Watchdoyouwant?]

Originally Posted by unotaz

That is correct. Going to the Geneva salon is not the same as doing the full factory tour at PP6 and the factory dial up north. Two completely different things.

Geneva salon is just a watch retailer. So there are no brownie points there.

Also, anybody can go tour the Patek Museum. But as part of the factory tour hosted by Patek, there is a special VIP tour of the Patek Museum and the Museum will be closed off to public for a few hours while you are there.

So how does one get invited to go on the full factory tour? What’s the cost of entry in terms of prior acquisitions?

[GGGMT]

Originally Posted by unotaz

As long the ones you sold falls outside of the 3-4 years mark, so that your AD didn't get in trouble for you selling, then you are fine.

Put it this way. If you sell your 5990 after a year of ownership and your AD gets red flagged for it from Patek corporate, then your AD won't be filing that application for you anyways

Thank you for the reply. I had some auto dictation failures. My question actually was: what if any of one’s acquisitions are from the secondary market? Disqualified? Do all acquisition have to be through an AD?


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[Ichiran]

Originally Posted by Russell996

Good hunting.

Originally Posted by GGGMT

keep us apprised of your journey, as it’ll probably be the closest I get!

Originally Posted by uniqueMR

This is correct, spot on!!

And importantly, your Patek AD "needs" to make a strong case for you. AD plays a major role. Good Luck Michael. You deservie it!!

Originally Posted by azizu

I went to the Saloon not too long ago and was really disappointed. The reception was very very very cold. I got to do tons of tours in many different manufactures and independents but not Patek. I also went to the museum and wasn’t impressed. In the SA own words, the Saloon is like any other AD, they get allocated certain pieces every year and they sell it to their locals and perhaps other VVIP that have had profile over the years. The only benefit to visiting the Saloon is you can try any piece. But that’s it

Thank you all for your well wishes! I'm still undecided which MR to go for but will have an idea after my Geneva visit

[Ichiran]

Originally Posted by unotaz

If you only have one grand comp in your collection, then your chance of getting a minute repeater is very slim. Ideally, Patek wants you own a perpetual, perpetual chrono, celestial/or split second, before applying for a minute repeater.

Having 10 watches in your collection is just the minimum requirement. If you have 9 nautilus/aquanaut/calatravas + 1 grand comp, is not the same as having 1 celestial, 1 perpetual, 1 perpetual chrono, 1 split second chrono perpetual, 1 rare handcraft and a few nautilus/aquanaut.

Doing the factory tour and going with your AD along with your country's Patek reps to Geneva for a week will add a significant amount of bonus points in your application profile.

Thank you for your detailed response! Appreciate it!

My AD seems to be hinting I need a SS before the MR. I'm quite interested in the 5204 green anyway hence it will not be a problem, but the concern is the MR I want may get discontinued before I am allocated the 5204. First World problem I know

[unotaz]

No impact from Patek's perspective.

As long as your AD doesn't mind a few pieces of your collection are from secondary market and they are willing to go to bat for you, Patek won't care.

Originally Posted by GGGMT

Thank you for the reply. I had some auto dictation failures. My question actually was: what if any of one’s acquisitions are from the secondary market? Disqualified? Do all acquisition have to be through an AD?


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[unotaz]

Every region/country is different. I can only speak for my country (US). Patek allocates 2 tours a year for the US dealers. We went last July, so the next time my dealer will be allowed to go again will be in 2042 or later.

My dealer paid for our entire trip, from our first class tickets to our food/hotels. It was definitely a trip of a lifetime for our group!

I have heard other dealers only paid for food and accommodations, while the customer had to pay for air fare. Each dealer handles it differently.

Originally Posted by Watchdoyouwant?

So how does one get invited to go on the full factory tour? What’s the cost of entry in terms of prior acquisitions?

[codecow]

Originally Posted by Watchdoyouwant?

So how does one get invited to go on the full factory tour? What’s the cost of entry in terms of prior acquisitions?

Your AD needs to have it set up. We had one younger couple on our tour where the guy just had something like a 5960 and that’s it. I don’t think they even had a lot of jewelry or anything. On the opposite end we had a bunch of big ballers and at least one huge collector with maybe 20 pieces including GCs, he got a unique piece rare handcraft from the NYC show.

[Watchdoyouwant?]

Originally Posted by codecow

Your AD needs to have it set up. We had one younger couple on our tour where the guy just had something like a 5960 and that’s it. I don’t think they even had a lot of jewelry or anything. On the opposite end we had a bunch of big ballers and at least one huge collector with maybe 20 pieces including GCs, he got a unique piece rare handcraft from the NYC show.

So you’re saying there is hope!

[codecow]

Originally Posted by Watchdoyouwant?

So you’re saying there is hope!

I guess, if you can make an impression with your AD somehow and end up on the list.

[Ichiran]

Originally Posted by codecow

I guess, if you can make an impression with your AD somehow and end up on the list.

I think it is up to Patek to decide, and also Patek's relationship with the AD of the customer plays a part. If the AD promotes the brand regularly, renovates regularly, do due diligence on customers for flipping, then whoever the AD promotes will have a greater weightage too.

[Russell996]

Originally Posted by azizu

I went to the Saloon not too long ago and was really disappointed. The reception was very very very cold. I got to do tons of tours in many different manufactures and independents but not Patek. I also went to the museum and wasn’t impressed. In the SA own words, the Saloon is like any other AD, they get allocated certain pieces every year and they sell it to their locals and perhaps other VVIP that have had profile over the years. The only benefit to visiting the Saloon is you can try any piece. But that’s it


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How can you of failed to be impressed by the museum- was it shut?