Help me switch dealers and maybe make an ”opening bundle”

[Tjaeng]

Greetings from Europe! First post, hope it’s not too onerous.

So my relationship with my present Patek AD (”A”) has come to a timely end after ~5 Years and about $1M of Rolex and Patek purchased. I have shifted most of my buying activity to another dealer (B) who however does not carry Patek. There is another small, family owned Patek AD in town (C) (Small as in total annual turnover <$10M) who I’d like to strike up a relationship with. I need some help with on how to go about it in the right way since I’ve got no experience doing it properly. As in, have never gotten any greasing or bundle offer from (A) despite purchasing plenty of hard-to-move Rolex and Patek from them. (A) quoting a delivery time of 6-8mo (!) for a frikkin OEM 5524 strap while (C) ordered it for me and got it in less than a week, was the last drop. They also indicated that they would be grateful to have me switch over. My sales situation anxiety took over at that point and I paid for the strap and left. So, here’s the deal:

I’m an omnivore. I have previously paid MSRP for a 5296g and a 5524g with (A). With (C) the strap and another one incoming is the only business I’ve done.

I’m in the market for a 5930G but those have a notoriously big gap (around 25-30%) between msrp and market price. In my local situation that would be around $20K of discrepancy. I know that (C) carries at least 2 in their store and that they aren’t exactly selling like hot cakes. Would the best course of action to

1. Offer to yoink it at MSRP with an implicit (or explicit?) agreement to get the inside track on a sport steel model? What would be a reasonable greasing on the 5212-5167-5711-5712-5726-5990-5740 scale?

2. Offer to yoink the 5930g and some other window dressing crap (my wife would probably like a 4897g) and ask for a bundle discount?

3. Haggle on the 5930G. How close to the 25-30% mark dare I go?

All three would lead to satisfactory results on my end. I’m just unsure as to what alternative an average small time AD would prefer? I’m notoriously soft at negotiating so I’d rather have a prepared strategy and go in firm on that. My end game in the long run would be to be able to hit the Pre-Salon application/anal probe ceiling. I.e 5270P or some such but no fantasy pieces.

Sorry for Wall of text and thank you for a wonderful resource of information.
Cheers
Tjaeng

[Pateks]

So you buy 200k or watches a year for the last 5 years and you are asking internet strangers on how to buy a Patek? Seems it should be the other way around.

[Tjaeng]

Originally Posted by Pateks

So you buy 200k or watches a year for the last 5 years and you are asking internet strangers on how to buy a Patek? Seems it should be the other way around.

Indeed. Unfortunately I just don’t have a single haggling och negotiating fibre in my being. Better late than never to learn, I suppose?

[martinr]

What does yoink mean?

[PPcollector]

Originally Posted by Pateks

So you buy 200k or watches a year for the last 5 years and you are asking internet strangers on how to buy a Patek? Seems it should be the other way around.

Agreed! How is it possible that you made over $1m in purchases from A yet you have not asked for a SS Patek? Are we talking USD $1m or some other form of currency?

[Tjaeng]

Originally Posted by martinr

What does yoink mean?

From Urban Dictionary: (can’t post links yet):

Yoink

An exclamation that, when uttered in conjunction with taking an object, immediately transfers ownership from the original owner to the person using the word regardless of previous property rights.

Though I cherished my automobile, I had to purchase a new one when my second cousin came up from behind me and politely exclaimed, "Yoink" while taking my car keys.


I think it was originally popularized by The Simpsons in the 90s..

[Tjaeng]

Originally Posted by Pateks

So you buy 200k or watches a year for the last 5 years and you are asking internet strangers on how to buy a Patek? Seems it should be the other way around.

Originally Posted by PPcollector

Agreed! How is it possible that you made over $1m in purchases from A yet you have not asked for a SS Patek? Are we talking USD $1m or some other form of currency?

Correct. Most of this period I was not interested in PP and didn’t purchase any of those either. I had my main contact (acquaintance in private as well) who was in charge of Rolex sales and basically acted as my personal broker as well. She then moved on to another job and I was basically left with no real purchase experience at all even though there had been a great many purchases. And without my contact I never managed to strike up a rapport with the owner. Who, to be fair, is known to be a grade A j*ck*ss who lost AD priviliges with another group/brand due to excessive grey market dealings.

And honestly, you guys can’t fault me for thinking that PP dealer relationships and power dynamics are Byzantine. Because they are. Just wanna get a little basic knowledge before heading into the fray.

[martinr]

Just walk in and shout yoink and whatever you want will be yours. Or am I missing something?

[Tjaeng]

Originally Posted by martinr

Just walk in and shout yoink and whatever you want will be yours. Or am I missing something?

Yes. You missed the part where a noobie was asking for advice and your first instinct was to be condescending.

[martinr]

I gave you great advice.

[Bruce_Wayne]

If you are trying to establish a relationship i would go in with your number 2 strategy. If your budget remains the same as your historical budget, focus on one brand and one AD.


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[AK797]

You sound like Del Boy after he won the lottery.

[Pateks]

I don’t understand this thread. I don’t even know how to answer or help you. If you have the means to spend a million on watches and can’t figure out how to buy a patek, I don’t think anyone here can offer advice that will be helpful.

[PPcollector]

Originally Posted by Pateks

I don’t understand this thread. I don’t even know how to answer or help you. If you have the means to spend a million on watches and can’t figure out how to buy a patek, I don’t think anyone here can offer advice that will be helpful.

Exactly!

[77T]

Camus had nothing on this...


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[cantdrive55]

Originally Posted by Pateks

I don’t understand this thread. I don’t even know how to answer or help you. If you have the means to spend a million on watches and can’t figure out how to buy a patek, I don’t think anyone here can offer advice that will be helpful.

Perhaps one of the ways he got into the position to be able to spend a million dollars on watches was by asking questions.

A few suggestions:

1. Deal only with the owner of the AD and just be honest with them about your enthusiasm for watches, and your desire to build a new relationship.
2. Establish a relationship such that they know you are knowledgeable, without being arrogant. Or condescending. Like other “experts” can be.
3. Buy something you want that your AD has that’s not unobtainable - maybe a complicated dress watch - or even some nice jewelry for your significant other.
4. Ask for a fair price and buy at the price they say they will sell, if it’s reasonably fair. Don’t negotiate.
5. Play the long game. Don’t prevaricate. Don’t be a Richard Noggin - like so many others.

This approach has worked well for me over the years with ADs of the Patek, Lange and Rolex watches I wanted, resulting in a 5712, 5990, 5167 and 5164, plus six other less desirable - but still great - PP watches in the last year, three of which I gave to my children.

But in the words of comedian Dennis Miller: “That’s just my opinion - and I could be wrong.”

Unfortunate on the condescending and arrogant remarks you’ve received - hopefully you can separate the wheat from the chaff in the posts here and get what you’re looking for.

Good luck - but most of all - HAVE FUN!

[wb55]

Originally Posted by AK797

You sound like Del Boy after he won the lottery.

He's bought $1m of watches over 5 years from Mickey Pearce and now he doesn't know how to pop into the shop and use his card at the till like a normal person.

[Bruce_Wayne]

Originally Posted by cantdrive55

Perhaps one of the ways he got into the position to be able to spend a million dollars on watches was by asking questions.

A few suggestions:

1. Deal only with the owner of the AD and just be honest with them about your enthusiasm for watches, and your desire to build a new relationship.
2. Establish a relationship such that they know you are knowledgeable, without being arrogant. Or condescending. Like other “experts” can be.
3. Buy something you want that your AD has that’s not unobtainable - maybe a complicated dress watch - or even some nice jewelry for your significant other.
4. Ask for a fair price and buy at the price they say they will sell, if it’s reasonably fair. Don’t negotiate.
5. Play the long game. Don’t prevaricate. Don’t be a Richard Noggin - like so many others.

This approach has worked well for me over the years with ADs of the Patek, Lange and Rolex watches I wanted, resulting in a 5712, 5990, 5167 and 5164, plus six other less desirable - but still great - PP watches in the last year, three of which I gave to my children.

But in the words of comedian Dennis Miller: “That’s just my opinion - and I could be wrong.”

Unfortunate on the condescending and arrogant remarks you’ve received - hopefully you can separate the wheat from the chaff in the posts here and get what you’re looking for.

Good luck - but most of all - HAVE FUN!

^^ This

Just like all relationships it takes time, but is typically worth it in the end

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[El Cascarrabias]

Originally Posted by Tjaeng

From Urban Dictionary: (can’t post links yet):

Yoink

An exclamation that, when uttered in conjunction with taking an object, immediately transfers ownership from the original owner to the person using the word regardless of previous property rights.

Though I cherished my automobile, I had to purchase a new one when my second cousin came up from behind me and politely exclaimed, "Yoink" while taking my car keys.


I think it was originally popularized by The Simpsons in the 90s..

Amazing what one can learn here!

[Pateks]

Originally Posted by cantdrive55

Perhaps one of the ways he got into the position to be able to spend a million dollars on watches was by asking questions.

A few suggestions:

1. Deal only with the owner of the AD and just be honest with them about your enthusiasm for watches, and your desire to build a new relationship.
2. Establish a relationship such that they know you are knowledgeable, without being arrogant. Or condescending. Like other “experts” can be.
3. Buy something you want that your AD has that’s not unobtainable - maybe a complicated dress watch - or even some nice jewelry for your significant other.
4. Ask for a fair price and buy at the price they say they will sell, if it’s reasonably fair. Don’t negotiate.
5. Play the long game. Don’t prevaricate. Don’t be a Richard Noggin - like so many others.

This approach has worked well for me over the years with ADs of the Patek, Lange and Rolex watches I wanted, resulting in a 5712, 5990, 5167 and 5164, plus six other less desirable - but still great - PP watches in the last year, three of which I gave to my children.

But in the words of comedian Dennis Miller: “That’s just my opinion - and I could be wrong.”

Unfortunate on the condescending and arrogant remarks you’ve received - hopefully you can separate the wheat from the chaff in the posts here and get what you’re looking for.

Good luck - but most of all - HAVE FUN!

He got in a position to spend a million on watches by asking questions? I assumed he got in that position by using a credit card or wiring money.

Go figure.

[martinr]

Originally Posted by El Cascarrabias

Amazing what one can learn here!

According to one of the OP’s defenders you’re being a “Richard Noggin”.

[cascavel]

Since you live in Europe, go to Geneva and spend a few hundred thousand Euros at one of the established Patek dealers there. Haggle over the prices, they won't respect you if you don't. They'll be your new AD and, eventually, they will come across with some "allocations".
Sell all of your Rolexes to raise funds, if necessary, for this campaign and , whatever you do, don't wear a Rolex when you are shopping for a Patek.

[Tjaeng]

Thank you for the advice! And to forum poobahs who make fun of people who are simply new to the game: you do you.

[AnalyseLindsay]

Look i would just be careful of whatever you yoink at the dealer

[AK797]

Originally Posted by wb55

He's bought $1m of watches over 5 years from Mickey Pearce and now he doesn't know how to pop into the shop and use his card at the till like a normal person.

Mickey Pearce, bet he never thought he'd get a name check on the Rolex forum back when he was interviewing candidates for a double glazing job at Burger King.

[jon_jon]

Something in the story is missing here. If you spent a million on Patek and Rolex how much was on Patek and how much on Rolex? OP said he bought a 5296 and 5524 - any other Pateks? If those were the only Patek references purchased, then you have started a relationship with a Patek AD, but not a major client. Does that mean you spent over 900k on Rolex?

People often mix their spending amount on Patek and Rolex and say I spent xxx amount purchasing both. But in reality, ADs will separate Patek buyers and Rolex buyers. People are inherently a Rolex buyer who may purchase a Patek or two. Or someone is mainly a Patek buyer, who also likes and buys Rolex.

Just because you spent a lot on Rolex at an AD, I wouldn't assume that the AD considers you a good Patek client.

I would say, start slow with a new Patek AD. It takes time to develop a Patek AD relationship. Some forum members had to do it for various reasons, like their AD lost their Patek license or they had a falling out with the AD owner/manager. It is a business for the ADs, but good interpersonal skills do help in the long run for both sides.

[Tjaeng]

Originally Posted by jon_jon

Something in the story is missing here. If you spent a million on Patek and Rolex how much was on Patek and how much on Rolex? OP said he bought a 5296 and 5524 - any other Pateks? If those were the only Patek references purchased, then you have started a relationship with a Patek AD, but not a major client. Does that mean you spent over 900k on Rolex?

People often mix their spending amount on Patek and Rolex and say I spent xxx amount purchasing both. But in reality, ADs will separate Patek buyers and Rolex buyers. People are inherently a Rolex buyer who may purchase a Patek or two. Or someone is mainly a Patek buyer, who also likes and buys Rolex.

Just because you spent a lot on Rolex at an AD, I wouldn't assume that the AD considers you a good Patek client.

I would say, start slow with a new Patek AD. It takes time to develop a Patek AD relationship. Some forum members had to do it for various reasons, like their AD lost their Patek license or they had a falling out with the AD owner/manager. It is a business for the ADs, but good interpersonal skills do help in the long run for both sides.

Correct, apart from 5296 and 5524 the only Patek I’ve purhased from that AD was a quartz Twenty-4. The rest is maybe 80% Rolex. I never considered the possibility that Patek is also keeping tabs and not just the AD, which puts your advice in context. I’m probably going to do the switch anyway but seeing as the new AD (doesn’t carry Rolex) has a turnover that can’t equate to many watches sold per year I am a little concerned as to whether there will be any possibility to be allocated any hard-to-get pieces. That seeing as the store maybe doesn’t receive a reasonable number of Nautilii etc. to begin with. I guess the Patek-heavy grey dealer in town is also receptive to money+loyalty. Probably need to mull it over some more.

[B01fan]

I think the biggest risk is that the smaller AD loses its Patek account - as Patek has been cutting its doors in recent years.

The ADs in bigger cities who buy tens of millions of product each year, are probably less likely to lose their AD status. But of course harder to be a truly “top” customer at one of those places.

[Pateks]

Originally Posted by B01fan

I think the biggest risk is that the smaller AD loses its Patek account - as Patek has been cutting its doors in recent years.

The ADs in bigger cities who buy tens of millions of product each year, are probably less likely to lose their AD status. But of course harder to be a truly “top” customer at one of those places.

Spend 200k a year and you will easily become a top client anywhere.

[np2016]

If your spending six figures on timepieces a year at an AD you will become a top priority customer instantly unless your a flipper or ungrateful douchebag customer.