Patek - 2020 releases to be postponed to next year

[Oryx]

I have heard from a very reliable source that Patek has decided to cancel releasing any watches this year due to the COVID-19 issues.

Instead they will have a bigger event for 2021 - combining two years worth of releases.

[Toffeeman]

This year will not be a good year for any releases given the global economic situation. Not a surprise move.

[JJ WA]

It is totally understandable, but sad...

[Calatrava r]

Probably makes a lot of sense. I suspect they will remain closed beyond the normal release time anyway so production of new releases would have been delayed for this year.

[AK797]

With most of us in isolation and bored it would not be a bad idea to online/IG release these for our viewing over the next couple of months, even if we can't buy them for another few months after that.

[Oryx]

Originally Posted by AK797

With most of us in isolation and bored it would not be a bad idea to online/IG release these for our viewing over the next couple of months, even if we can't buy them for another few months after that.

I agree - would give us something to occupy ourselves with at least

[raclaims]

If there is a somewhat rapid rebound used pieces will skyrocket

[AK797]

Originally Posted by raclaims

If there is a somewhat rapid rebound used pieces will skyrocket

Oh, for sure, greys will be looking to restore the old world asap, but will the punters once bitten now be shy to their machinations...

[KBM]

That'd be a shame. As Neil said, better to let the new models trickle out through social media and keep collectors interested.

[SBC1986]

Originally Posted by kauebm

That'd be a shame. As Neil said, better to let the new models trickle out through social media and keep collectors interested.

I agree it would be a shame. It also highlights that they are more commercially concerned vs a company that is creative, appreciates their customers, and carrying on regardless.

[jcoltrane]

Originally Posted by Oryx

I have heard from a very reliable source that Patek has decided to cancel releasing any watches this year due to the COVID-19 issues.

Not giving enthusiasts a reason to remain excited about the brand while everything is depressed is a mistake. Supposedly, the 2020 Rolex releases will be out relatively soon, so we'll see if either is true.

[AK797]

Originally Posted by kauebm

That'd be a shame. As Neil said, better to let the new models trickle out through social media and keep collectors interested.

Yes, they were planning to do it anyway so it would be no hardship for PP, Rolex etc, and it would be a social service for the tens of thousands of enthusiasts now stuck at home.

[golfski]

Originally Posted by kauebm

That'd be a shame. As Neil said, better to let the new models trickle out through social media and keep collectors interested.

I’m not sure I follow this line of thinking. On this site, most collectors have many more pieces from the previous 100+ years than from 2019-now. As if a small variation of an existing product line is what is needed to keep collectors happy?!?!? Most of these threads only talk about the 5711, 5167, 517x variants. Not to mention they’ve had a few limited editions pop up throughout the year.

I think one big reason could be ensuring those new references, being even more limited and hard to get, don’t skyrocket to some arbitrary value because they cane out during this time. Not to mention, they may not even had time to complete manufacturing and design on them before the shit down!

[Calatrava r]

Originally Posted by golfski

I’m not sure I follow this line of thinking. On this site, most collectors have many more pieces from the previous 100+ years than from 2019-now. As if a small variation of an existing product line is what is needed to keep collectors happy?!?!? Most of these threads only talk about the 5711, 5167, 517x variants. Not to mention they’ve had a few limited editions pop up throughout the year.

I think one big reason could be ensuring those new references, being even more limited and hard to get, don’t skyrocket to some arbitrary value because they cane out during this time. Not to mention, they may not even had time to complete manufacturing and design on them before the shit down!

It may actually be the opposite. This crisis is terrible for the already crushed watch market. The manufacturers would gladly take a year off from supplying new models to allow the glut of unsold inventory at dealers to be sold down to avoid buy backs. While this is not as much so for Patek, now is not the time to release new dress watch models which will tank on the market with the current crisis.

[AK797]

Case in point, AP have just released a new model and that has sparked up the AP forum which has been pretty dead for the last few weeks as has this forum.

[francoamerican]

One justification for the delay is the importance of the models being release perhaps?

I would expect the 5296 replacement is a relatively high volume and core model.

I also agree with most of you who argue that many customers don't get a chance to see models in person before they decide to buy them these days and that it would build interest to at least see releases taking place digitally.

[benlee]

Sensible thing to do. Doubt most of us are that concern with watches right now.

[Calatrava r]

Originally Posted by AK797

Case in point, AP have just released a new model and that has sparked up the AP forum which has been pretty dead for the last few weeks as has this forum.

A TT dress watch will really stir the pot. I guess. What is AP thinking?

[enjoythemusic]

Hopefully this gives them time to service pieces a bit faster.

[pam66]

Originally Posted by Calatrava r

A TT dress watch will really stir the pot. I guess. What is AP thinking?

i think the new AP is a very very good looking piece.

[scurfa]

Originally Posted by pam66

i think the new AP is a very very good looking piece.

Me too but Patek have similar vintage two tone chronograph models, I wonder if they have one planned also and AP have pipped them to the post.


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[AK797]

Originally Posted by Calatrava r

A TT dress watch will really stir the pot. I guess. What is AP thinking?

It is crazy as the introduction, hopefully the universal neg reaction will guarantee the SS and gold models are following in swift order.

[JJ WA]

Is the postponement now confirmed? There have been some posts on Instagram suggesting so, but I see nothing on PP's website nor on news watch sites.

[Oryx]

i don’t think PP have made any formal announcement but have intimated this to their AD network

[WatchPro.com]

Originally Posted by Oryx

i don’t think PP have made any formal announcement but have intimated this to their AD network

100% certain. I had it confirmed by three ADs

[STLBrax]

I realize that PP makes its own rules but I wonder why it hasn't made this information public. I know people who want to buy a PP but are a little concerned that PP will release a model that will make them regret the decision. It seems that announcing the cancellation will get these people off the fence. This is particularly true of a model that's been rumored for an upgrade for a long time like the 5196p.

[LJubel328]

Originally Posted by STLBrax

I realize that PP makes its own rules but I wonder why it hasn't made this information public. I know people who want to buy a PP but are a little concerned that PP will release a model that will make them regret the decision. It seems that announcing the cancellation will get these people off the fence. This is particularly true of a model that's been rumored for an upgrade for a long time like the 5196p.

My guess is they are waiting it out to see how the virus plays out over the next couple of weeks.

On another note, it is nice to see a fellow Missourian on here!

[T3F]

If this is true, it really bums me out -- watch releases are something I've really been looking forward to because, well, there's not much else to do right now.

I apologize if this offends anyone and I'm not meaning to call anyone a liar, but I'm still not 100% convinced this is accurate. For one, I think Patek would issue a public statement because everyone is expecting new releases. Additionally, from a logistical standpoint, it also doesn't fully add up to me. They've been working on this year's releases for years now, and probably have been preparing to produce them for the last year or two. I would be surprised if production hadn't yet started in some capacity, but either way, they've already ordered a ton of parts, committed to future orders, retooled, discontinued other models, etc., and at this point, IF the manufacture is open, it would make much more sense logistically, financially, etc. to just launch them now than to delay. Now, if the manufacture ends up being closed for months on end, then I understand why they'd delay the launch.

[Jamhot]

It makes sense to postpone. Who is actually going out to try some new watches anyway? ADs & the factory are closed.

[Fat_ninja]

Oh well. Less for me to buy. Then again I haven’t even purchased any of this year or lasts years models