ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

pp5575 · 12 May 2017, 09:46 AM

Quote:

Originally Posted by thomaspp

Am I the only one surprised by the perceived availability of this reference? I mean I know some of the Chrono24 listing are from dealers who do not actually have the watch, but I have seen 3 listings fairly recently from folks who I am pretty certain have the watch in hand....

Thomas. You are right. Compare to other models. 5370P is only a few for sale in grey market at the moment.

pp5575 · 12 May 2017, 09:56 AM

Quote:

Originally Posted by texex91

LOL. In US we ask for discounts. They may tell you to leave, but we ask :-)

Don't think one piece will get you much in the US Brian--but maybe. It's nice to tell them of your other pieces, but that money didn't go in their pocket.

Lot's and lot's of US VIP's higher on the list.

BUT asking is free...so do it.

Paul: Maybe I just keep quite to visit the exhibition and return home safely with catalog and price list. Do not bother to look for any AD in the US.

I do not like AD treat me badly without trying to know who I am even I am not his VIP. That is why Jamie has my business for 8 years. I also introduced many clients to him.
There was two AD WHO TRY TO GET MY BUSINESS during the London exhibition because they saw my watch and had a good conversation with Patek artist. I am not going to wear my watch to visit the exhibition and see what happen.

jon_jon · 12 May 2017, 10:02 AM

Quote:

Originally Posted by pp5575

I visited Taipei 101 AD for the first time. I got offered 5131R after conversation with the manager. Only thing the manager asked me is to buy 5271P and another perpetual calendar. I think it is not a bad deal for me for the first visit.

This seems like a reasonable deal as long as both parties were happy with the outcome.

I don't know anything about the Taipei 101 AD and they may have many clients who are looking for watches like the 5271P. However many ADs have a difficult time selling PCs and PCCs. The ADs have to pay for the watches upfront and if they sit around for 6 month or 12 months, it affects cash flow for the AD. ADs will try to tell clients that these watches (e.g. 5271P) are hard to obtain, very special and reserved only for VIP clients. This may be true, but this may also be a tactic to get leverage over the customer into thinking the AD is doing the customer a favor by selling him a rare and hard-to-find piece, and then selling it at full price. So certainly information is king when it comes to negotiating on any deal. However there will always be an imbalance of information with typically the AD having an advantage.

pp5575 · 12 May 2017, 10:13 AM

Quote:

Originally Posted by jon_jon

This seems like a reasonable deal as long as both parties were happy with the outcome.

I don't know anything about the Taipei 101 AD and they may have many clients who are looking for watches like the 5271P. However many ADs have a difficult time selling PCs and PCCs. The ADs have to pay for the watches upfront and if they sit around for 6 month or 12 months, it affects cash flow for the AD. ADs will try to tell clients that these watches (e.g. 5271P) are hard to obtain, very special and reserved only for VIP clients. This may be true, but this may also be a tactic to get leverage over the customer into thinking the AD is doing the customer a favor by selling him a rare and hard-to-find piece, and then thus selling it at full price. So certainly information is king when it comes to negotiating on any deal. However there will always be an imbalance of information with typically the AD having an advantage.

Taipei 101 AD is a Singapore co. and it is one of biggest Patek AD in the world. AD has so many rare watches and clocks. Maybe you can visit it when you have a time to visit Taipei. Taipei 101 is a famous building for all luxury goods from the world.

texex91 · 12 May 2017, 10:33 AM

Quote:

Originally Posted by pp5575

Paul: Maybe I just keep quite to visit the exhibition and return home safely with catalog and price list. Do not bother to look for any AD in the US.

I do not like AD treat me badly without trying to know who I am even I am not his VIP. That is why. There was two AD WHO TRY TO GET MY BUSINESS during the London exhibition because they saw my watch and had a good conversation with Patek artist. I am not going to wear my watch to visit the exhibition and see what happen.

You want a NY exhibition watch, but let's be honest, you only want to know an AD here for that. With that said, I would not expect the red carpet treatment.

You yourself said "Jamie has my business for 8 years". You tend to play the field it seems, but I don't know why. If Jamie is your guy just stick with him and stop asking about other AD's. It's confusing to me.

pp5575 · 12 May 2017, 10:39 AM

Quote:

Originally Posted by texex91

You want a NY exhibition watch, but let's be honest, you only want to know an AD here for that. With that said, I would not expect the red carpet treatment.

You yourself said "Jamie has my business for 8 years". You tend to play the field it seems, but I don't know why. If Jamie is your guy just stick with him and stop asking about other AD's. It's confusing to me.

Jamie can't help me with NY exhibition special watches. He even can't help me with London special watch, Maybe MD does not like me. It is not I want to contact with another AD. It is because he can't get what I want for the exhibition watches.

I do not expect anything from NY exhibition. A try will not going to hurt me.

There is nothing wrong if you can't get business from one person. You should have a chance to try others. Do not take it too serious. It is just a Patek game.

texex91 · 12 May 2017, 10:44 AM

Quote:

Originally Posted by pp5575

Jamie likes me very much, but he can't help me with NY exhibition special watches. He even can't help me with London special watch, Maybe MD does not like me. It is not I want to contact with another AD. It is because he can't get what I want for the exhibition watches.

I do not expect anything from NY exhibition. A try will not going to hurt me. Just try to discuss the exhibition with friends here.

I hope you can get one...can always buy on gray market for more $$ ;-)

Enjoy your trip to NY and bring your best pieces to wear--NYC is dress to impress.

Cheers

pp5575 · 12 May 2017, 11:00 AM

Quote:

Originally Posted by texex91

I hope you can get one...can always buy on gray market for more $$ ;-)

Enjoy your trip to NY and bring your best pieces to wear--NYC is dress to impress.

Cheers

You are right. "can always buy on gray market for more $$ ".

"NYC is dress to impress. " I believe this.

Paul: Thank you for your opinion. I appreciate it.

FlyinM3 · 12 May 2017, 11:17 AM

In all honesty, with all your recent questions and desires, why not fly to Geneva and plea your case with the Sterns directly? I would spend all your energy to build a relationship with the Geneva salon and get a chance to deal with Thierry Stern directly. My 2 cents.

thomaspp · 12 May 2017, 11:32 AM

Quote:

Originally Posted by pp5575

Thomas. You are right. Compare to other models. 5370P is only a few for sale in grey market at the moment.

Yes. But 5370P was supposed to be special. I know that Patek promised big collectors that this watch would be VERY limited and hard to get, promising that in 2015 only two or so examples would make it to the US. Here we are 2 years later.... not so sure that's the case. I absolutely love the 5370P, by far the "best" of the current collection but....

Sent from my iPhone using Tapatalk

martinr · 12 May 2017, 12:04 PM

There is about $95-100K profit in the watch for an AD so if the grey dealers have them for sale for less than retail you know some AD's are selling them for far less than that. If they're so hard to come by and there are so many for sale who is buying them?

thomaspp · 12 May 2017, 12:06 PM

Quote:

Originally Posted by martinr

There is about $95-100K profit in the watch for an AD so if the grey dealers have them for sale for less than retail you know some AD's are selling them for far less than that. If they're so hard to come by and there are so many for sale who is buying them?

You think there is that much profit on this? I believe this is an application watch and less profit on those for ADs I believe

Sent from my iPhone using Tapatalk

pp5575 · 12 May 2017, 01:08 PM

Quote:

Originally Posted by martinr

There is about $95-100K profit in the watch for an AD so if the grey dealers have them for sale for less than retail you know some AD's are selling them for far less than that. If they're so hard to come by and there are so many for sale who is buying them?

Do you mean Patek AD sells their Patek watches through grey market?

pp5575 · 12 May 2017, 01:12 PM

Quote:

Originally Posted by thomaspp

You think there is that much profit on this? I believe this is an application watch and less profit on those for ADs I believe

Sent from my iPhone using Tapatalk

I guess AD has 40% profit of list price. List price is around US250,000 X 40% = 100,000(I guess), Maybe AD has to minus the cost of store, employees and others before it gets its profit.

pp5575 · 12 May 2017, 01:14 PM

Quote:

Originally Posted by thomaspp

Yes. But 5370P was supposed to be special. I know that Patek promised big collectors that this watch would be VERY limited and hard to get, promising that in 2015 only two or so examples would make it to the US. Here we are 2 years later.... not so sure that's the case. I absolutely love the 5370P, by far the "best" of the current collection but....

Sent from my iPhone using Tapatalk

Next time I will become smarter. Always ask early and pay attention to all models before making a choice.

Only two sent to US in 2015? How could the collectors be able to apply for it?

pp5575 · 12 May 2017, 01:19 PM

Quote:

Originally Posted by FlyinM3

In all honesty, with all your recent questions and desires, why not fly to Geneva and plea your case with the Sterns directly? I would spend all your energy to build a relationship with the Geneva salon and get a chance to deal with Thierry Stern directly. My 2 cents.

Do you know how to do that? Is it easy to meet with Thierry Stern? I did have a short conversation with Mr. Thierry Stern in London. I know he is very friendly and busy.

Maybe it is easier to buy from grey market directly.

texasmade · 12 May 2017, 01:36 PM

Quote:

Originally Posted by pp5575

My God. Tax is on top of the list price. I think US customers pay much more than European customers.

Yep. Which is why with the current strong USD, a lot of US citizens are going to Europe to buy luxury goods. Most high-end watch places offer free insured overnight or 2-day shipping to within the US to avoid paying sales tax at the time of purchase.

KarlS · 12 May 2017, 01:43 PM

Quote:

Originally Posted by pp5575

Thank you. So nice here. You can get quick answer without visit any AD.

Sadly no gifts here

jon_jon · 12 May 2017, 01:46 PM

Quote:

Originally Posted by thomaspp

You think there is that much profit on this? I believe this is an application watch and less profit on those for ADs I believe

Sent from my iPhone using Tapatalk

A year or two ago, someone posted wholesale and retail prices of Patek application pieces for the UK market. All of the pieces had a 50% margin. I can't say for sure if US ADs have the same margins, but it can't be that different from the UK market.

pp5575 · 12 May 2017, 01:47 PM

Quote:

Originally Posted by KarlS

Sadly no gifts here

Hi Karls:

already many gifts. It should be enough for me.

KarlS · 12 May 2017, 01:50 PM

On the profits I heard a contrary view from Rhone bit as I didn't record the conversation it's purely hearsay. However the more expensive the watch the GP% actually reduces! There is a sliding scale. I think you will see in one of my posts last year...they seldom get asked a discount on the watches at this level as people at this level are prepared to pay and prepared to pay more to be bumped up the list or be the first!! Lastly there is a reason why it's "price on application" for many pieces. It's negotiated!!

pp5575 · 12 May 2017, 01:50 PM

Quote:

Originally Posted by texasmade

Yep. Which is why with the current strong USD, a lot of US citizens are going to Europe to buy luxury goods. Most high-end watch places offer free insured overnight or 2-day shipping to within the US to avoid paying sales tax at the time of purchase.

I guess Europe has many foreign customers recently. Euro ADs are worry no watches for sales.

KarlS · 12 May 2017, 01:52 PM

Quote:

Originally Posted by pp5575

Hi Karls:

already many gifts. It should be enough for me.

Yes u need to spread the love....I already offered myself up for adoption / marriage etc. and declined. How about early Xmas and send us gifts!!

pp5575 · 12 May 2017, 02:22 PM

Quote:

Originally Posted by KarlS

Yes u need to spread the love....I already offered myself UD for adoption / marriage etc. abd declined. How about early Xmas as send us gifts!!

You told me last time that you have many gifts to put on my golf bag.

martinr · 12 May 2017, 02:24 PM

Quote:

Originally Posted by thomaspp

You think there is that much profit on this? I believe this is an application watch and less profit on those for ADs I believe

Sent from my iPhone using Tapatalk

You may be right, I'm only guessing based on regular AD discount off retail of approximately 40%.
I would only buy the 5370 if I loved it, not as a path to getting a limited piece from the New York exhibition.

pp5575 · 12 May 2017, 02:25 PM

Quote:

Originally Posted by KarlS

On the profits I heard a contrary view from Rhone bit as I didn't record the conversation it's purely hearsay. However the more expensive the watch the GP% actually reduces! There is a sliding scale. I think you will see in one of my posts last year...they seldom get asked a discount on the watches at this level as people at this level are prepared to pay and prepared to pay more to bebumped up the list or. E the first!! Lastly there is a reason why it's "price on application" for many pieces. It's negotiated!!

See this:( I believe the retail price includes VAT)

L1020993.jpg

pp5575 · 12 May 2017, 02:27 PM

Quote:

Originally Posted by martinr

You may be right, I'm only guessing based on regular AD discount off retail of approximately 40%.
I would only buy the 5370 if I loved it, not as a path to getting a limited piece from the New York exhibition.

Good question. I look 5370P photos again and again. It looks nice to me.

It looks it is not easy to get 5370P. Not even mention as a path to getting a LE. Buying a Patek watch is not fun at all. Ha Ha.

KarlS · 12 May 2017, 03:22 PM

Quote:

Originally Posted by thomaspp

You think there is that much profit on this? I believe this is an application watch and less profit on those for ADs I believe

Sent from my iPhone using Tapatalk

That's what I also understand

pp5575 · 12 May 2017, 03:25 PM

Quote:

Originally Posted by KarlS

Yes u need to spread the love....I already offered myself up for adoption / marriage etc. and declined. How about early Xmas and send us gifts!!

You are in London. Go to visit Jamie. maybe he will offer you some gifts.

KarlS · 12 May 2017, 04:37 PM

Quote:

Originally Posted by pp5575

You are in London. Go to visit Jamie. maybe he will offer you some gifts.

I told you I tried...shop closed!!!

12 May 2017, 11:17 AM	#39
FlyinM3 "TRF" Member Join Date: Oct 2013 Real Name: Dan Location: NYC Posts: 807	In all honesty, with all your recent questions and desires, why not fly to Geneva and plea your case with the Sterns directly? I would spend all your energy to build a relationship with the Geneva salon and get a chance to deal with Thierry Stern directly. My 2 cents.

12 May 2017, 12:04 PM	#41
martinr "TRF" Member Join Date: Jan 2013 Location: California Posts: 3,099	There is about $95-100K profit in the watch for an AD so if the grey dealers have them for sale for less than retail you know some AD's are selling them for far less than that. If they're so hard to come by and there are so many for sale who is buying them?

12 May 2017, 01:50 PM	#51
KarlS Banned Join Date: Nov 2015 Real Name: Karl Location: Kuwait Posts: 5,228	On the profits I heard a contrary view from Rhone bit as I didn't record the conversation it's purely hearsay. However the more expensive the watch the GP% actually reduces! There is a sliding scale. I think you will see in one of my posts last year...they seldom get asked a discount on the watches at this level as people at this level are prepared to pay and prepared to pay more to be bumped up the list or be the first!! Lastly there is a reason why it's "price on application" for many pieces. It's negotiated!!

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)