Advice from Current PP Collectors

[FrogWatch]

Good morning, I am sure this question has been asked here in the past but I can't find a recent thread in today's watch climate. I have been collecting Rolex for years now (12 total references) but haven't been able to break into the PP market. I was able to buy my wife a 5067A-001 from our local AD several years back but now that AD isn't associated with PP anymore. My question is, what are some introductory pieces that will help me start a good nice collection and build rapport with an AD? Any that aren't super allocated? Do you suggest I go t the nearest town? Or try a bigger city like NYC, LA, etc...? Any idea of how much miscellaneous spending I need to do in the store to "help" the relationship? I have never had to do this for Rolex as I started collecting before the craze and have several AD close that I have great rapport with.

Any guidance and insight will be greatly appreciated.

Cheers!

[JMac6]

In my view, I would go to an AD in a nearby town over a big city. And when you go to that AD, come in with a plan. I would suggest calling ahead and making an appointment with someone in ownership, if you can, or someone with a serious history at the store. Specifically, say these are the watches that I want, I know that some are harder to get than others, I am not asking for the hardest watches to get, and these are some that I am willing to buy right now. Say that you will order jewelry from them (and follow through with it) and, if applicable, other watches that you are interested in. Make it clear that you are serious - and, to that end, be prepared to hand over your plastic.

If you make it clear that you are not messing around, that you have 12 Rolexes, that you want to branch into PP, that you are not looking for hot watches, and that you are prepared to wait, I think that will go a long way.

This is the roadmap I took, and a year later (a PP, Rolex, and some small jewelry later), I have a great relationship with an AD. Be patient and be respectful and be willing to show that you are not screwing with them. In short, treat them like a business partner.

Personally, I have really enjoyed getting to know my AD, and it's been fun to see hot pieces, etc.

[FrogWatch]

Originally Posted by JMac6

In my view, I would go to an AD in a nearby town over a big city. And when you go to that AD, come in with a plan. I would suggest calling ahead and making an appointment with someone in ownership, if you can, or someone with a serious history at the store. Specifically, say these are the watches that I want, I know that some are harder to get than others, I am not asking for the hardest watches to get, and these are some that I am willing to buy right now. Say that you will order jewelry from them (and follow through with it) and, if applicable, other watches that you are interested in. Make it clear that you are serious - and, to that end, be prepared to hand over your plastic.

If you make it clear that you are not messing around, that you have 12 Rolexes, that you want to branch into PP, that you are not looking for hot watches, and that you are prepared to wait, I think that will go a long way.

This is the roadmap I took, and a year later (a PP, Rolex, and some small jewelry later), I have a great relationship with an AD. Be patient and be respectful and be willing to show that you are not screwing with them. In short, treat them like a business partner.

Personally, I have really enjoyed getting to know my AD, and it's been fun to see hot pieces, etc.

Thanks for the insight. Appreciate it.

[JMac6]

Originally Posted by FrogWatch

Thanks for the insight. Appreciate it.

No problem. Smaller ADs, in my view, are a bit more skittish when it comes to new buyers. However, smaller ADs have a lot more difficulty meeting PP quota, so if you can convince them you are not jerking them around, I think you will have a good shot.

[srvrf]

I think there is an emphasis on selling to local buyers. So whatever the nearest AD or two is a good place to start.


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[santiago]

Purchase Jewelry; a significant quantity if you can. It's really quite simple when you think about it: most AD's can sell all of the watches they have, to literally anyone who walks in the door because demand far exceeds supply. But if you want to get on the AD's good side, buy jewelry too. (assuming they are a jeweler)

[newonos]

I wrote my AD a note on a piece of paper. It said, "will you sell me a 5067A-001? [] yes [] no [] maybe" then handed it to him and ran out of the store all embarrassed. Worked like a charm.

[MadSpaniard]

I will never understand the rationale behind buying stuff you don't want for a better chance of buying what you do want. And frankly, any AD that makes such a suggestion to me can just eff all the way off.

Don't play the game, don't get pimped.

The advice I would offer is always the same: treat the AD with respect, don't try to game them or take advantage of them, be sincere in your purchase request, and strive to be a legitimate customer who is buying because you love the watch — not because others are impressed with the watch.

Of course, the AD should be respectful and sincere with you as well — this should be a two-way street.

It's OK if the AD can't fulfill your sincere purchase request. In that event, try to be understanding of their position. And it's OK to buy jewelry, if that's what you really want.

But if you're buying extra stuff just to and make friends, consider for a moment that anyone asking you to do so is not your friend.

[JMac6]

Originally Posted by MadSpaniard

I will never understand the rationale behind buying stuff you don't want for a better chance of buying what you do want. And frankly, any AD that makes such a suggestion to me can just eff all the way off.

Don't play the game, don't get pimped.

The advice I would offer is always the same: treat the AD with respect, don't try to game them or take advantage of them, be sincere in your purchase request, and strive to be a legitimate customer who is buying because you love the watch — not because others are impressed with the watch.

Of course, the AD should be respectful and sincere with you as well — this should be a two-way street.

It's OK if the AD can't fulfill your sincere purchase request. In that event, try to be understanding of their position. And it's OK to buy jewelry, if that's what you really want.

But if you're buying extra stuff just to and make friends, consider for a moment that anyone asking you to do so is not your friend.

I agree with this.

However, I do think it is unreasonable, in this climate, to go in and ask for a 5712 or a 5167 etc. If that is your purchase request, then you are not being sincere in my opinion.

A small point regarding jewelry. Yes, ADs love when you buy jewelry because the profit margins are higher. But do not underestimate the value in buying a Patek. Patek requests that an AD sell a certain number of Pateks per year, and a lot of smaller ADs have to work to meet that amount. Each AD has to sell less desirable watches, and a sale of such a watch is worthwhile.

[FrogWatch]

Originally Posted by JMac6

I agree with this.

However, I do think it is unreasonable, in this climate, to go in and ask for a 5712 or a 5167 etc. If that is your purchase request, then you are not being sincere in my opinion.

A small point regarding jewelry. Yes, ADs love when you buy jewelry because the profit margins are higher. But do not underestimate the value in buying a Patek. Patek requests that an AD sell a certain number of Pateks per year, and a lot of smaller ADs have to work to meet that amount. Each AD has to sell less desirable watches, and a sale of such a watch is worthwhile.

No, those higher allocated pieces would not be my first desire. Ultimately, maybe. Really would love a 6119G or even a sportier 5226G

[JMac6]

Originally Posted by FrogWatch

No, those higher allocated pieces would not be my first desire. Ultimately, maybe. Really would love a 6119G or even a sportier 5226G

Out of curiosity, where (generally) are you located?

I think you could get a 6119G with a minor wait. The 5226G, that one is up in the air. I think in a year or two you could get the 5226G.

[dauster]

Originally Posted by FrogWatch

No, those higher allocated pieces would not be my first desire. Ultimately, maybe. Really would love a 6119G or even a sportier 5226G

6119G should be doable with some patience 5226G might take a while since it was just released but maybe in a year or two.

[FrogWatch]

Originally Posted by JMac6

Out of curiosity, where (generally) are you located?

I think you could get a 6119G with a minor wait. The 5226G, that one is up in the air. I think in a year or two you could get the 5226G.

I'm in north Texas

[jon_jon]

This question of "New To Patek buying first Patek" comes up here as often as a similar thread in the Rolex subforum. We are living in some weird times, not just for watches, but in many parts of the US, the housing market and auto market is crazy. Using conventional wisdom, one would say wait out this crazy time period. And in due time, I do believe there will be some improved inventory. Just like many economists predict, perhaps there will be a recession coming in 2023 and more people will limit discretionary spending, like luxury watches.

My advice would be to visit as many ADs as possible to see which ones are willing to work with you. Inquiring by phone or email is still very different from the face to face interaction when it comes to Patek ADs. You can easily do phone or internet transactions with re-sellers, but Patek ADs are still old fashioned. Some get so many inquiries for the Nautilus and Aquanaut, that automatically they will ignore you if that is your first question. Do some homework and read about the history of Patek and the current as well as discontinued models. Many ADs can tell if you are a real enthusiast or one of the thousands who are following the "hype" people see on social media.

[FrogWatch]

Originally Posted by jon_jon

This question of "New To Patek buying first Patek" comes up here as often as a similar thread in the Rolex subforum. We are living in some weird times, not just for watches, but in many parts of the US, the housing market and auto market is crazy. Using conventional wisdom, one would say wait out this crazy time period. And in due time, I do believe there will be some improved inventory. Just like many economists predict, perhaps there will be a recession coming in 2023 and more people will limit discretionary spending, like luxury watches.

My advice would be to visit as many ADs as possible to see which ones are willing to work with you. Inquiring by phone or email is still very different from the face to face interaction when it comes to Patek ADs. You can easily do phone or internet transactions with re-sellers, but Patek ADs are still old fashioned. Some get so many inquiries for the Nautilus and Aquanaut, that automatically they will ignore you if that is your first question. Do some homework and read about the history of Patek and the current as well as discontinued models. Many ADs can tell if you are a real enthusiast or one of the thousands who are following the "hype" people see on social media.

Well said and I agree with a lot of your points. Appreciate the reply.

Haven't ventured too much out of the Rolex or JLC world. Having such a great relationship with a couple Rolex AD's has led me to still be able to acquire pieces in these crazy past couple years. That said, venturing into PP (which I have admired for awhile) is definitely uncharted. I was able to get my wife a 5067A rather easily because of my Rolex relationship with a joint AD. Since they have lost PP AD status I am back to the beginning and haven't really wanted to try another AD until now.

[Chute]

Originally Posted by FrogWatch

I'm in north Texas

I’d visit DeBoulle in Dallas and see how they treat you.
A 6119g should not be too hard to acquire.

[JMac6]

Originally Posted by jon_jon

This question of "New To Patek buying first Patek" comes up here as often as a similar thread in the Rolex subforum. We are living in some weird times, not just for watches, but in many parts of the US, the housing market and auto market is crazy. Using conventional wisdom, one would say wait out this crazy time period. And in due time, I do believe there will be some improved inventory. Just like many economists predict, perhaps there will be a recession coming in 2023 and more people will limit discretionary spending, like luxury watches.

My advice would be to visit as many ADs as possible to see which ones are willing to work with you. Inquiring by phone or email is still very different from the face to face interaction when it comes to Patek ADs. You can easily do phone or internet transactions with re-sellers, but Patek ADs are still old fashioned. Some get so many inquiries for the Nautilus and Aquanaut, that automatically they will ignore you if that is your first question. Do some homework and read about the history of Patek and the current as well as discontinued models. Many ADs can tell if you are a real enthusiast or one of the thousands who are following the "hype" people see on social media.

The "wait out this crazy time period" is an interesting point.

I think that the crazy level of interest in this hobby will abate. It has to. And I believe that will hit the fringe hype pieces hard.

However, I do wonder whether interest will abate in PP to pre-2017/18 levels. At the end of the day, there are only 60,000 watches made per year, and there is a whole lot of demand! And with the rich getting richer, and previously underdeveloped parts of the world developing, there are a whole lot of mouths to feed (or wrists to adorn).

[Vasco]

There has definitely been a strong rise of demand since the last 6-7 years and even more visible since the last 2 years.

Like in many cycles, there are periods of excess (at the top and at the bottom) that aren't the neutral balanced position of a market. We can say the same for inflation, mortgage etc...

However, I believe that a part of this unusual demand will stay as it has brought newcomers who might discover watchmaking and like it the way we do here. How many? That's the question. However, compared to a 60K production, it might remain significant.

The good thing is that it has pushed many other less successful references on the wrist of people. Hence, it leads (with the help of the wider straps offer) to experience and, with time, enjoy things we might not have been thinking of like classical Calatravas, Gondolos, Ellipses, etc...

Hence, it might be that buyers may now consider something else than an Aquanaut or a Nautilus. Of course, those successful models will still be in strong demand but there will be more appeal for other watches.

I think that this market has been a good thing for these unloved pieces.

Hence OP, I would also consider waiting a little before buying, visitng ADs from time to time (a visit once every 4 months for instance), they will see your interest and consistency. Then you might have a good surprise.

Of course, you can buy today at current prices (secondary market) but there are chances that it will decrease when the excessive trend softens.

[FrogWatch]

Thanks for all the insight guys. Appreciate it.