Will Pateks keep dropping?

[DonLee]

Originally Posted by enjoythemusic

I'm curious if those who went for the new $400k 1/10th PP chrono are feeling ripped off by FPJ's 1/100th... or the revolutionary new $180k MB&F dual-chrono. The new MB&F is quite a game-changer over old designs imho.

What I heard is that the FPJ's 1/100th is precise, but not accurate.

[llngoc]

Originally Posted by enjoythemusic

I'm curious if those who went for the new $400k 1/10th PP chrono are feeling ripped off by FPJ's 1/100th... or the revolutionary new $180k MB&F dual-chrono. The new MB&F is quite a game-changer over old designs imho.

If my understanding is correct, I don’t think the Centigraph is exactly measuring 1/100 of a second accurately. And in truth, if I am offered one, I would care less about that aspect and snap it up in a heartbeat. 🤣

As for MB&F, the Sequential is indeed an innovation and I did snap one up in a heartbeat. :-)

Also feel good about myself for enabling a friend to get the brass and steel LMX.

[scurfa]

My favourite World Time gets ever further away! retail price is £420k ish

I’m glad I bought the 5230 until I save up $2,250,000 equals £1.8 million, great price for a watch still in the current line up.

[agsstructures]

Originally Posted by GB-man

I wouldn’t touch a sport Patek or AP at secondary pricing with a ten foot pole. I suspect many are headed well below 6 figures again. Just my gut feeling.

If you’re paying msrp then who cares. You should get the same enjoyment as usual.

Spot on

[2nastie]

Maybe I'm completely off but the only Pateks I've noticed dropping are the Nautilus and Aquanaut lines. The dress pieces might have adjusted very slightly but remains strong. Seems like that line has actually done pretty well.

[ts3]

Originally Posted by GB-man

I wouldn’t touch a sport Patek or AP at secondary pricing with a ten foot pole. I suspect many are headed well below 6 figures again. Just my gut feeling.

If you’re paying msrp then who cares. You should get the same enjoyment as usual.

This.

Enjoying while typing.

[helloworldies]

Originally Posted by GB-man

I wouldn’t touch a sport Patek or AP at secondary pricing with a ten foot pole. I suspect many are headed well below 6 figures again. Just my gut feeling.

If you’re paying msrp then who cares. You should get the same enjoyment as usual.

This and add hot Rolex steel too.

[77T]

Originally Posted by beshannon

And the plot thickens

Brian
You are presciently spot on methinks.

Beware brothers and sisters.


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[Coolcamden]

Originally Posted by 2nastie

Maybe I'm completely off but the only Pateks I've noticed dropping are the Nautilus and Aquanaut lines. The dress pieces might have adjusted very slightly but remains strong. Seems like that line has actually done pretty well.

Same here. I’ve been on the look out for a 5320 and a 5270. Not really any noticeable drop.

[joa]

Originally Posted by Coolcamden

Same here. I’ve been on the look out for a 5320 and a 5270. Not really any noticeable drop.

tbh when i noticed the Nautilus price jump a few months back i did not even take it seriously, dismissed it as the aftershocks of the Tiffany auction.. as such, the reversal of that move was to be expected, even in absence of interest rate adjustments

[dchang81]

Originally Posted by Coolcamden

Same here. I’ve been on the look out for a 5320 and a 5270. Not really any noticeable drop.

5320 had a pretty decent drop? Saw one in the high 60s but it sold quickly.

[dauster]

Originally Posted by dchang81

5320 had a pretty decent drop? Saw one in the high 60s but it sold quickly.

Ill wait a little but the 5320 cream dial has been growing on me - maybe I'll snatch one up - my AD had one pre-owned 2 years ago same price but didn't really like it back then...

[dauster]

Originally Posted by scurfa

My favourite World Time gets ever further away! retail price is £420k ish

I’m glad I bought the 5230 until I save up $2,250,000 equals £1.8 million, great price for a watch still in the current line up.

dude on IG I.am.3 or whatever has a 5531R (my favorite PP) - two year wait $570k or so - but he also has a olive 5711 I am just not in that league ...

[Coolcamden]

Originally Posted by dchang81

5320 had a pretty decent drop? Saw one in the high 60s but it sold quickly.

Really? How did I miss it? I monitor C24 several times a day. Still in the mid 80’s.

[ajw45]

Right, truly rare & special PP is still fine, hyped high production sports watches not so much. OP vanished but it's pretty clear that "bunch" does not mean "rare" and "keep dropping" means he's sitting on the hype models. For those hoarding a "bunch" of "rare" and "dropping" PP watches that did so hoping to profit, burn baby burn.

[dchang81]

Originally Posted by Coolcamden

Really? How did I miss it? I monitor C24 several times a day. Still in the mid 80’s.

C24 these days completely meaningless. Only function it has as overpriced "comps"

[Fabes]

Originally Posted by dchang81

C24 these days completely meaningless. Only function it has as overpriced "comps"

Yea C24 prices look quite inflated, where would be good place to look for realistic prices?

[smg8]

From another thread;

Originally Posted by smg8

Auction just ended with a Patek 5726 failing to meet reserve;



Top bid £103k + fees = £109k

Apparently were going for £215k on C24....

[beshannon]

Originally Posted by 77T

Brian
You are presciently spot on methinks.

Beware brothers and sisters.


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[ts3]

Originally Posted by Fabes

Yea C24 prices look quite inflated, where would be good place to look for realistic prices?

I suggest following a preowned dealer who prices stuff to move such as EWC. They also lower the asking price fairly quickly if stuff doesn't move.

In my experience, their asking prices for hot stuff are often at the very bottom of the C24 range. What they are selling for is anyone's guess but I doubt EWC will offer big discounts.

The key issue, however, is their offer price if you want to sell...

[DonLee]

Originally Posted by 2nastie

Maybe I'm completely off but the only Pateks I've noticed dropping are the Nautilus and Aquanaut lines. The dress pieces might have adjusted very slightly but remains strong. Seems like that line has actually done pretty well.

that's because grey dealers and speculators don't collect in bundles of dress watches in hopes to make money.

[QuelleHeureEstIl]

Originally Posted by ts3

I suggest following a preowned dealer who prices stuff to move such as EWC. They also lower the asking price fairly quickly if stuff doesn't move.

In my experience, their asking prices for hot stuff are often at the very bottom of the C24 range. What they are selling for is anyone's guess but I doubt EWC will offer big discounts.

The key issue, however, is their offer price if you want to sell...

Publicly (C24, greys' websites) high offers stay with the hope to catch a fool while keeping the "it is about to rebound" hope. (They already postponed from May to September in some youtube videos.)

If you have access to private groups/forums, you will see that prices are waaaay below the cheapest equivalent on C24. And, even with a lot cheaper prices, references have issues to move.

[ts3]

Originally Posted by QuelleHeureEstIl

Publicly (C24, greys' websites) high offers stay with the hope to catch a fool while keeping the "it is about to rebound" hope. (They already postponed from May to September in some youtube videos.)

If you have access to private groups/forums, you will see that prices are waaaay below the cheapest equivalent on C24. And, even with a lot cheaper prices, references have issues to move.

Sure, just like the offer price from dealers will be way below the cheapest equivalent on C24. In my limited experience sth like 25% below in a healthy market but these days the spread may be a lot higher if they are interested at all.

That said, some dealers adjust prices downward fairly quickly in the hope of keeping stuff moving as bad as it looks to regular visitors.

[QuelleHeureEstIl]

Originally Posted by ts3

Sure, just like the offer price from dealers will be way below the cheapest equivalent on C24. In my limited experience sth like 25% below in a healthy market but these days the spread may be a lot higher if they are interested at all.

That said, some dealers adjust prices downward fairly quickly in the hope of keeping stuff moving as bad as it looks to regular visitors.

All dealers adjust buy prices downward instantly. Not the sell price. A little like the gas stations. ;) But why blame them, they are only traders doing their job. And we, customers, have now Internet to find great educational information and check sources/information. :)

In our grey dealers rhetoric we trust : https://www.youtube.com/watch?v=fzkJGtBZDPM

[HMHM]

Originally Posted by QuelleHeureEstIl

All dealers adjust buy prices downward instantly. Not the sell price. A little like the gas stations. ;) But why blame them, they are only traders doing their job. And we, customers, have now Internet to find great educational information and check sources/information. :)

In our grey dealers rhetoric we trust : https://www.youtube.com/watch?v=fzkJGtBZDPM

His 2nd deal of the day is a bust as well! Going to end in 10 minutes with no buyers for the 2nd day running…
Seriously, if people are not taking the bait for these ‘deals’, who’s buying the 6 figure Nautilus and Aquanaut?

In grey dealers we trust!

[superdog]

More price drops coming.

Lots of folks that were flush, are finding themselves less so.

[77T]

Originally Posted by superdog

Lots of folks that were flush, are finding themselves less so.

Flushed is a better word methinks.
It also describes OP.


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[AbeFroman]

There’s a 5168G sitting in Moda at $98k.

[Yobrooks]

This thread has been very interesting. Healthy corrections are needed and the fact that aquanauts, nautilus and most other pps are so tough to obtain will keep the prices at a premium.

[edhahn44]

Looking at the prices reached at the ongoing NY auction, it seems the correction for the hyped sport models and the less popular dress and vintage watches is rather steep. Not only when looking at PP though.


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