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15 May 2018, 11:19 AM | #1 |
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Who's buying the 5711/1a at $50k?
Hi folks,
Out of curiosity..anybody here actually paying the premium for the 5711 at +$50k? I've always been curious what type of people are buying at the upper limit..are there WIS buying at this level or these are just people riding the speculation? Thanks for your views in advance. |
15 May 2018, 03:40 PM | #2 |
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i don't think a lot of people would be admitting it if they did, but I think its a lot of people who just got tired of waiting or who don't want to get on a list now.
pay 20k and save 5 years of wait isn't the worst value proposition if you really want the watch... people pay more to skip the lines at disneyland too. Same thing.
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15 May 2018, 05:11 PM | #3 |
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I highly doubt people buying at these premiums are speculating. They just don't want to wait and have the money...most of which I highly doubt are really collectors/wis.
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15 May 2018, 06:08 PM | #4 |
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i agree to an extent. I know of a few WIS who have done just that though. They are more small time collectors. Big time collector WIS dont need to as their collection ensures they get these watches at retail. So as far as WIS not doing this, i just think its more a matter of collection scale more than anything, not that a serious watch enthusiast would automatically not buy at a huge premium.
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15 May 2018, 06:11 PM | #5 | |
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That's how the 50+ value comes about. |
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15 May 2018, 06:17 PM | #6 | |
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I remember here last year that people were laughing at 37k 5711's. Now that is pretty much where the retail price is. So its a gamble to wait, just the same as its a gamble to buy at inflated prices.
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15 May 2018, 06:29 PM | #7 | |
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In short, impossible to buy retail here unless you are the creme de la creme customer. |
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15 May 2018, 09:39 PM | #8 |
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I think in general most won’t pay $50k but it only takes a few to keep price offerings at that level , and money is all relative . Personally I wouldn’t pay 60% over retail , but I have a decent-sized collection and am on a list w my AD so I can stomach the wait even though I know it will likely be a few years as my AD only gets 2-3/ year (it’s been a year so far). But for someone who really wants the 5711 and values it the same as other $50k watches he/she sees around and has an income 10x mine, I see no reason why they wouldn’t spend the $50k.
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15 May 2018, 10:20 PM | #9 |
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What about the rappers that bling them out, are they on a list, or do their “people” just buy grey?
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15 May 2018, 11:10 PM | #10 |
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15 May 2018, 11:25 PM | #11 |
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they are probably leased. Like the lambos, bentleys, and the mansions. In general most celebrities who are in the image game, not just rappers lease most of the stuff. I would be willing to bet there are high end jewelers who do just that.
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16 May 2018, 01:20 AM | #12 | |
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16 May 2018, 01:42 AM | #13 |
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People with money to burn.
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16 May 2018, 01:57 AM | #14 |
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I think I can beat $50k
https://www.watchcentre.com/product/...1-1a-010/16594 Just a tad over $57k of your American Dollars
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16 May 2018, 02:05 AM | #15 | |
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16 May 2018, 02:54 AM | #16 |
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Went to Disneyland, Fastpass costs $10/person/day ($40 for my family). Worth it to me. It basically allowed me to squeeze in 3 extra rides per day.
Maybe for a rich person, $50k is like that $40 to me. |
16 May 2018, 03:02 AM | #17 | |
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But for sure if this keeps up paying 50k is probably less than the secondary prices when you finally give up and then look at the secondary market. I wouldn't do it personally, but i absolutely wouldn't fault anyone who did.
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16 May 2018, 03:21 AM | #18 | |
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16 May 2018, 04:05 AM | #19 |
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It's about current value vs future value. How do you know wihin the next 5 years this model will not be discontinued. If you have one now and someone is offering 50k with a 20k profit, will you really sell it knowing one day you might wait it back. You think you can just walk into any Patek AD and put your name on the wait list or ask your previous AD again where you once scored 5711, unlikely imo.
Premium on 5711 is not bad at all. In asia, 50k is a market price. It costs more indeed nowadays. |
16 May 2018, 06:55 AM | #20 |
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If you know you’ll get it at retail in 5 years you may choose to wait it out. But unless you know for sure, why take the risk? Just pay up and know the downside risk is no worse than any similarly priced luxury watch.
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16 May 2018, 07:02 AM | #21 | |
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Didn’t know that....I’m pretty sure you’re right about the dealers leasing too. Sent from my iPhone using Tapatalk
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16 May 2018, 09:53 AM | #22 |
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There are also instances where people managed to flip their equally popular watches for profit, and don't mind paying the market price for a 5711. The same people who benefited from the law of demand-supply
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16 May 2018, 11:09 AM | #23 |
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People probably sell out of something and get into a 5711. Like a Lange Dato or something similar.
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17 May 2018, 06:08 AM | #24 |
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I know I paid about 45k for my 5712/1a in apri. I dont see the nautilus price dropping anytime soon, tbh its still the ideal choice for most people at this price range.
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17 May 2018, 07:53 AM | #25 |
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Every so often a person comes along who simply wants the watch without the wait and can afford to throw down the extra $ for immediate gratification. Dealers sitting on these watches and asking $57K are hoping to get lucky with one of these guys, while watching the market slowly appreciate in the meantime.
Sadly, as long as demand doesn't crash, it's a very profitable strategy so I don't expect it to change. |
17 May 2018, 07:55 AM | #26 |
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I think for many people $5K is preferable to a multi year wait. I got lucky and bought at retail from my AD (who is awesome) but otherwise I would have considered a small premium also.
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17 May 2018, 02:08 PM | #27 |
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I'm so mad. I bought a white dial no complication for 21k 2 years ago. It's now for sale on govberg for literally 50k.....That's your grey market daytona right there.
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18 May 2018, 12:16 AM | #28 | |
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I was “lucky” to get my 5712 a few days ago for retail. However maybe I would have been better off paying a premium before the price hike. I bet I could have gotten one for less than 40k if I had jumped on it a year ago, heck maybe even 6 months ago... if we only had a crystal ball. Sent from my iPhone using Tapatalk
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18 May 2018, 12:22 AM | #29 | |
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18 May 2018, 12:24 AM | #30 | |
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Oh well! Maybe jump on one now. They seem to be in the high 40’s used. With MSRP at 40k it’s not that bad. I really did want want get mine from an AD with my name on the warranty. So I guess I paid a “premium” for that compared to getting one used before the price hike. Ah... enough talk about price. More time enjoying these great watches! Sent from my iPhone using Tapatalk
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