Michael Friedman Out of AP?

[PaulB330]

Received a few messages about this and found it a shocking since I had just met him a few months ago here in NYC. Also hearing that AP let go several people between California and New York at their boutiques due to bribery in the past few months. Anyone else hear the same?

[SRG89]

Not heard about this but interesting about bribery at boutiques.

In the last Phillips auctions the stickered AP pieces they had in it were insane… blue ceramic QP, steel QP, platinum Jumbo.

You just knew they came direct from boutique. I may be cynical but I do think this is what the new pricing structure they bought in was for.
Will allow certain individuals to give x amount over retail and secure some rare pieces.
Us mortals are not privy to those discussions I guess!


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[thekman]

The bribery stuff was mentioned by someone on this forum before.


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[raclaims]

Yep, he's gone...sad!

[HMHM]

Looks like takeover by ?LVMH might be gathering pace?

[metzgergt1]

Curious what the bribery rumors are. Just bribery for allocations?

[VogelPhoenix]

Originally Posted by SRG89

You just knew they came direct from boutique. I may be cynical but I do think this is what the new pricing structure they bought in was for.
Will allow certain individuals to give x amount over retail and secure some rare pieces.

Which "new pricing structure"? I assume you're not referring to the "Non-binding recommended public price in Great Britain (VAT included)." boilerplate legalese that has no practical consequences for boutique pricing.

[SRG89]

Originally Posted by VogelPhoenix

Which "new pricing structure"? I assume you're not referring to the "Non-binding recommended public price in Great Britain (VAT included)." boilerplate legalese that has no practical consequences for boutique pricing.

Yep that’s what I was referring to. Was that only for the UK? Didn’t understand it’s existence If it’s never excercised?

[Vince_76]

What’s the story with Michael? That’s a shame - he was a huge asset

[PaulB330]

Originally Posted by Vince_76

What’s the story with Michael? That’s a shame - he was a huge asset

Taking bribes for allocations is what I was told.

[VogelPhoenix]

Originally Posted by PaulB330

Taking bribes for allocations is what I was told.

Friedman? I heard that he was moving on, but "bribes for allocations" sounds surprising (also not sure how as "head of complications" he would allocate anything).

[maciej]

Originally Posted by VogelPhoenix

Friedman? I heard that he was moving on, but "bribes for allocations" sounds surprising (also not sure how as "head of complications" he would allocate anything).

For any of the complication or highly desirable pieces Michael would be one of the main approvers.

[westbeach]

Originally Posted by PaulB330

Received a few messages about this and found it a shocking since I had just met him a few months ago here in NYC. Also hearing that AP let go several people between California and New York at their boutiques due to bribery in the past few months. Anyone else hear the same?

Are you talking about the boutique in NYC or AP House? If it's the 57th St boutique, I would not be surprised since one of them basically told me to buy from 47th street without even knowing what I was looking for.

[VogelPhoenix]

Originally Posted by SRG89

Yep that’s what I was referring to. Was that only for the UK? Didn’t understand it’s existence If it’s never excercised?

When this appeared (or was noticed) on the website a year ago, a number of people asked their SAs what this meant - and the answer consistently was that boutiques will continue to sell at MSRP ("s" as in suggested). If there's extra money changing hands, it's against AP policy.

[VogelPhoenix]

Originally Posted by maciej

For any of the complication or highly desirable pieces Michael would be one of the main approvers.

Hm. Still seems out of (public) character, but very disappointing if true.

[eiesh]

Originally Posted by PaulB330

Taking bribes for allocations is what I was told.

Maybe the SA got it wrong about Michael Friedman.
Maybe he left on his own, found something better as FHB is leaving at then end of the year & new CEO might want to clean house.

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[Trailboss516]

Originally Posted by VogelPhoenix

"head of complications"

What a fitting name for someone wrapped up in all of these speculations! :)

[VogelPhoenix]

Originally Posted by VogelPhoenix

Hm. Still seems out of (public) character, but very disappointing if true.

Following up, Friedman's LinkedIn still lists his position as AP Head of Complications. So I'd suggest treating any rumors as just that.

[mav3rick]

heard something similar with the AP boutique in KL. SAs were taking $ for allocations.

when a SA suddenly buys a 911 GT3, how can it not be suspicious?

[Vince_76]

Originally Posted by mav3rick

heard something similar with the AP boutique in KL. SAs were taking $ for allocations.

when a SA suddenly buys a 911 GT3, how can it not be suspicious?

That’s insane. Reminds me of drug dealers/gangsters who abstained from flashy items to avoid getting pinched.

I really hope the Friedman rumors aren’t true. Regardless, it’s clear that the hobby has been spoiled by greed and hype, which seems to be the case with some boutiques.

[AEV]

Pity if indeed M.Friedman is leaving. I was thinking he could be the internal candidate for FHB’s role.

[GW44]

Originally Posted by VogelPhoenix

Following up, Friedman's LinkedIn still lists his position as AP Head of Complications. So I'd suggest treating any rumors as just that.

And, personally speaking, I think it’s very poor form for people to speculate (or character assonate) on an open public forum in this manner with no facts presently available.

[AshAP]

Originally Posted by GW44

And, personally speaking, I think it’s very poor form for people to speculate (or character assonate) on an open public forum in this manner with no facts presently available.

Defo, disgraceful actually


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[Rolexavidfan]

Originally Posted by Vince_76

That’s insane. Reminds me of drug dealers/gangsters who abstained from flashy items to avoid getting pinched.

I really hope the Friedman rumors aren’t true. Regardless, it’s clear that the hobby has been spoiled by greed and hype, which seems to be the case with some boutiques.

I hope it is not true.

But then again the change of operating model of direct to consumer plus a host of business changes initiated and implemented by FHB during his CEO term and the watch hypes of the last 5 years or so has certainly put our hobby in a not-so-ideal light. Endless chimes of unobtainability and frustrations may also tend to lower the guardrails of either buyers or sellers once deemed to be impenetrable.


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[macrowatch]

Oph, that's some serious libel if the SA is spreading false rumors. I of course have no idea about the accusation for someone so high up, but for now I'm with Vogel, knew jerk reaction was to check LinkedIn.

Re: GTS in MY...hard to say, maybe just rich family! Lol. But yeah, on MY salary...I could see it happening.

[0xalate]

Originally Posted by mav3rick

heard something similar with the AP boutique in KL. SAs were taking $ for allocations.

when a SA suddenly buys a 911 GT3, how can it not be suspicious?

hmm... is that why the AP boutique was closed over the holidays? Apparently they were doing some revamp but I see no renovations or anything significant done in the store when I visited Starhill.

[Emery]

Originally Posted by 0xalate

hmm... is that why the AP boutique was closed over the holidays? Apparently they were doing some revamp but I see no renovations or anything significant done in the store when I visited Starhill.

Some say the revamp was personnel-related rather than to do with the store for out itself.

[doctoryellow]

AP is just a criminal organization

[serenerabbit]

Originally Posted by PaulB330

Taking bribes for allocations is what I was told.

Originally Posted by doctoryellow

AP is just a criminal organization

Sounds libellous, not nervous to write these public statements?

[Mini2]

If I knew all SA were after bribes just wish they just said how much :)
At least with hookers you know the outcome
Meet a new SA you don't know if you're going to get what you want or not - the mind games haha