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Old 8 August 2020, 04:40 PM   #481
Russell996
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Some say Anna Nicole Smith married for love
You donít believe Patek ever buy back pieces?
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Old 8 August 2020, 04:59 PM   #482
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You donít believe Patek ever buy back pieces?
I have heard that, I have heard they even have a separate unit for that. Is it really true? I don't know. If you go to WF or some other dealers in London you can easily find out from where they get their 5711/5712. Most of those are coming mainly from the same group of ADs. Do they take action? I don't know

We all know that Patek wants people to know their watches appreciate in value and on their magazine they always publish auction prices for big pieces.
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Old 8 August 2020, 05:18 PM   #483
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Some say Anna Nicole Smith married for love
Patek limit their production of rare handicraft (5089 series, dome and MR) to 50 although they received thousands of such requests every Basel. Each of these handicraft is priced at 6 to 7 digits. It seems bizarre why a businessman is limiting his own hot product but that is what they do year after year. I don't understand that but then I also don't own a multi billion century old watch business.

With that, does it seem far fetched they are spending 5 digit to buy back watches?
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Old 8 August 2020, 05:41 PM   #484
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Does Patek actually print the name of the buyer on the certificate of origin and the attestation OR is that done by the AD / buyer themselves at time of purchase?
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Old 8 August 2020, 06:32 PM   #485
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I have heard that, I have heard they even have a separate unit for that. Is it really true? I don't know. If you go to WF or some other dealers in London you can easily find out from where they get their 5711/5712. Most of those are coming mainly from the same group of ADs. Do they take action? I don't know

We all know that Patek wants people to know their watches appreciate in value and on their magazine they always publish auction prices for big pieces.
During interviews Thierry Stern actually told reporters that they do buybacks. How serious they are on the buybacks ??? I do doubt that a bit.

There are a number of variables to consider I think:

1. They are not buying back the watches that fill the AD's windows, then do not care about a Word Time being flipped or sold to a grey by an AD
2. They probably can't buy a hundred watches per year back, I would imagine the have a limited budget for that
3. Patek is dependent on some markets (US, Hong Kong) and in those markets, some AD's are dominant. It is very hard to be angry or retaliate against someone how you are depending on
4. Those big AD chains are, in their turn, depending on some big buyers. If they descide to start flipping..... sjah, what can you do?
5. Patek really only cares about flippers getting the newest, most special allocations and making a lot of money in the early release phase
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Old 8 August 2020, 06:56 PM   #486
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Does Patek actually print the name of the buyer on the certificate of origin and the attestation...
They can and do for certain pieces. My 6007A was sent to the AD with my details already printed on the certificate of origin.
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Old 8 August 2020, 08:05 PM   #487
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They can and do for certain pieces. My 6007A was sent to the AD with my details already printed on the certificate of origin.
Hey Russell,

Do you mind elaborating on how you got selected to purchase such pieces? Just genuinely curious in terms of timelines or how the initial engagement went with your AD. Feel free to PM me if this question drags the whole thread off-topic, but I'm sure many in the forum would be interested too :)
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Old 8 August 2020, 11:22 PM   #488
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They can and do for certain pieces. My 6007A was sent to the AD with my details already printed on the certificate of origin.
Thanks. Thatís what my AD told me too for the 6007A.
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Old 9 August 2020, 03:53 AM   #489
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Hey Russell,

Do you mind elaborating on how you got selected to purchase such pieces? Just genuinely curious in terms of timelines or how the initial engagement went with your AD. Feel free to PM me if this question drags the whole thread off-topic, but I'm sure many in the forum would be interested too :)
Well no secret the UK is different to most markets. UK AD’s were asked to submit a list of interested parties with their recommendations based on their collecting history by a closing date and by noon the next day allocation was complete. All UK pieces were held by Rhone prior to allocation and were ready for despatch to the AD’s within a couple of days with preprinted docs.
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Old 9 August 2020, 07:25 AM   #490
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Well no secret the UK is different to most markets. UK ADís were asked to submit a list of interested parties with their recommendations based on their collecting history by a closing date and by noon the next day allocation was complete. All UK pieces were held by Rhone prior to allocation and were ready for despatch to the ADís within a couple of days with preprinted docs.
Thanks for the information

Do you know how many pieces UK received?
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Old 9 August 2020, 08:24 PM   #491
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They can and do for certain pieces. My 6007A was sent to the AD with my details already printed on the certificate of origin.
Seems like a good system. I’d personally be happy with that if it secured me a watch I very much wished to own and treasure.

How are you enjoying your 6007 Russell? Which gets more wrist time - 6007a or Odysseus?
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Old 13 August 2020, 11:40 PM   #492
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Already 4 on Chono24. I see this settling around low 40s. At least that's what I hope- then I'll buy one!
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Old 13 August 2020, 11:48 PM   #493
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Thanks for the information

Do you know how many pieces UK received?
At least 60
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Old 16 August 2020, 11:10 AM   #494
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At least 60
May I ask how did you find out the numbers
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