If you had the cash would you buy a 5711?

[cascavel]

Originally Posted by MadSpaniard

Yep. There's really nothing inherently off-the-scale great about the 5711 (or Aqua), it was intended as a sporty entry-level model, then in recent years social media "influencers" got a hard-on for it and everybody else followed (literally). Now it's become a massive bukake party.

Sure, the 5711 is a nice watch - a very nice watch from a top brand. But let's be real: the only thing truly extraordinary about the 5711 is its market price, which has nothing to do with its intrinsic characteristics as a watch or work of horology.

Let's remember, there are also people that will pay mad loot for toilet paper if Elvis wiped his ass with it. Pause for a moment to consider that: toilet paper, used. I rest my case.

Does that toilet paper come with good provenance? Also, perhaps a DNA test done at a reliable lab? Sort of like a COO.

[Murcielagoboy2]

Originally Posted by Fenrira

Throwing up values like that is so arbitrary. You can insist all you want that the 5711 isn’t even worth its retail price, but I’m willing to wager that if I hypothetically insisted on offering $20k for your 5711, you’d likely scoff in my face. In this scenario, is it really a sub-$20k watch to you?

Yes, in a vacuum complicated dress Pateks would probably be worth more than steel sport ones, but we live in the real world.

No. It's not arbitrary.
Patek's list price tells you how much expertise, labour, finishing, materials, design consideration, and sustainable profit margin go into its manufacture. That list price is based on tangible considerations.
Analogous to a stock based on cash flows, balance sheet, brand and customers.

Hype however is intangible. Hype is a supply/demand imbalance. And given the fickle nature of today capricious luxury goods consumers, that imbalance is more likely to be arbitrary. (After all, go back 5 years and Patek sports were laughed at and offered at discounts). Hot one minute. Not the next.
Analogous to Crypto/NFTs and possibly even TSLA.

That's why I laugh everyday at ***most, but not all*** of the people crying to own a 5711/Nautilus. You were walking past them on your way to Hublot five years ago and you only want one because of the Zeitgeist.

Fabulous watch at list price. Well finished, reliable, versatile, classy.
But at current price it's more like UBERs IPO!

[pav333hp]

Originally Posted by GreenLantern

Do you all know how the Green 5711 hit $400k?

An initial bunch of grey market dealers put out empty ads (or whatever they're called when you put up listings on Chrono24 without actually owning the watch to back it yet) for $380k - $425k right after it was announced.

And, eventually, everyone just jumps on that bandwagon and assumes that's the going rate.

Then, eventually, an auction or two (like we had a couple weeks ago) would happen, and the suckers bidding walk in thinking that's the going rate, and they legitimize it by paying that at a very prestigious auction.

That's how you manipulate pricing in an illiquid market.

Yep! That seems about accurate. Just like they are making up $800 - $900k for the diamond bezel one. I don't think anyone has actually bought one at that price, but grey will push hard to manipulate the market and to flex on IG.

Just watch... in the near future (maybe before or after the Philips auction), a few will pop up on C24 with some astronomical price of $1M+ and people will believe that is the market. It's actually very sad...

[dauster]

Originally Posted by pav333hp

Yep! That seems about accurate. Just like they are making up $800 - $900k for the diamond bezel one. I don't think anyone has actually bought one at that price, but grey will push hard to manipulate the market and to flex on IG.

Just watch... in the near future (maybe before or after the Philips auction), a few will pop up on C24 with some astronomical price of $1M+ and people will believe that is the market. It's actually very sad...

I'm sure some crypto bro has paid that recently

[inadeje]

I have the cash. Not for that run of the mill reference. Another 5980 in YG maybe, but not that 5711.

[subtona]

yes, it is my favorite watch.

it is the watch that is perfectly suited for my day to day. i look forward to wearing it like i did my first submariner. 24/7 for 20 years.

it is also an extremely rare and unique offering in the watch world. the features are available in many other watches but it is seldom if ever all put together in a single watch.

*steel bracelet/sports watch versatility
*significant iconic design and history.
*120m WR
*crown guards
*screw down crown
*excellent legibility
*all in a package that is only 40mm wide x 8.3mm thick


when i am done with my 5711 i hope it tells a heck of a story.

of all the watches i have tried and let go the 5711 was the only one i wanted back, fortunately the circumstances allowed me to reacquire it.

[MadSpaniard]

Originally Posted by GreenLantern

The fact that the market has gone crypto-crazy doesn't imply the watch has greater intrinsic value to me.

It's still a $35k watch. And I remember the days when people would've scoffed at that for a Steel Time/Date only watch with an annoying bracelet clasp.

Originally Posted by MadSpaniard

Yep. There's really nothing inherently off-the-scale great about the 5711 (or Aqua), it was intended as a sporty entry-level model, then in recent years social media "influencers" got a hard-on for it and everybody else followed (literally). Now it's become a massive bukake party.

Sure, the 5711 is a nice watch - a very nice watch from a top brand. But let's be real: the only thing truly extraordinary about the 5711 is its market price, which has nothing to do with its intrinsic characteristics as a watch or work of horology.

Let's remember, there are also people that will pay mad loot for toilet paper if Elvis wiped his ass with it. Pause for a moment to consider that: toilet paper, used. I rest my case.

Originally Posted by cascavel

Does that toilet paper come with good provenance? Also, perhaps a DNA test done at a reliable lab? Sort of like a COO.

@cascavel: Unfortunately, I don't think provenance or certification would change the basic fact that no matter whose ass it squirted out of, it would still be a shit-stain on a piece of toilet paper...

With respect to the 5711, I think the main point is about intrinsic and inherent value. On that score the 5711 is nice, but really not $100k nice, or $400k nice in the case of green. It's not a rare piece by any means, it's not a mechanical marvel, it's not the one and only iconic watch worn daily by Newman, etc.

The 5711 is simply a nice sporty watch and at $35k list it's an expensive luxury watch by any measure, which lately has become the piece de rigueur of the social media set.

Of course, now there's the Uber-Tourist-Tiffany version, which makes one wonder whether the 5711 has finally jumped the shark into full-on meme territory...

[WatchEater666]

No, I’d rather get a Gauthier, Vout, or Gronefeld.

[kultschar]

Do love the 5711 but tempted to trade in for the 5712 since I already own a 5167 and struggle to upgrade that one for a 5164. Not sure if that would be a like for like trade or require additional funds

[subtona]

Originally Posted by kultschar

Do love the 5711 but tempted to trade in for the 5712 since I already own a 5167 and struggle to upgrade that one for a 5164. Not sure if that would be a like for like trade or require additional funds

Would keep both of what you have