5522a in the UK... for £60K!

[tyler1980]

Originally Posted by martinr

The watch manufacturers already know who the grey dealers are. From what I've heard regarding AP for example, there's a legit AP dealer in Vegas, Venetzia is the name, they move more than the boutique and they have a grey outlet, lisalisa, that sells online with all documents. So when a manufacturer says they want to stop grey sales they really don't it's all talk.

the online registering is fairly new. They changed the 3rd year warranty condition from getting a pressure test to now actually registering it so thats a big step in the last two years. Now if the warranty for registering the watch will soon be longer than the warranty the watch is sold with thats another big step to increase compliance with the registration system.

They are moving in the right direction so they are not doing nothing.

Reguarding Venetzia i have no idea as they are not an AD according to AP's website. Vagas has a boutique and a store called "The Jewelers", maybe thats the same one?.

Im pretty sure they don't care about reselling of used watches as we all do it or even BNIB low demand watches at discounts. They seem to not like the flipping BNIB above retail as a business.

[Audguy]

this must be a typo?

[Passionata]

Originally Posted by nyc2la

I think Patek would want to know, for a LE in particular, if watches allocated to supposed good customers / collectors were being flipped. I would guess (and I may be wrong) that said good customer would lose the "good". To be fair, if the customer sold it at a later time (unsealed and worn) so be it. Can't (and shouldn't be able to) stop that. But the fact that it's within weeks of delivery and sealed shows the true intention here.

Right ,i think what really piss them off(the manufacturer) that these pieces are sold double sealed but it s also could be that we care more about it than they do.

[martinr]

Venetzia/The Jewelers is the same place Tyler. Back to the 5522, I remember hearing Thierry Stern say he wanted some of them to go to new first time Patek buyers. Seems like there are lots of opinions, on the purist forum they all agree buying a sealed watch like a Patek from a grey dealer is stupid. And like Thomas said anybody can reseal a plastic bag. Then again even legitimate dealers of preowned watches like European Watch Co say in their ad for preowned Patek like new in box. Even 15 year old watches! Practically every one for sale is LNIB.

[ap1]

Originally Posted by martinr

Venetzia/The Jewelers is the same place Tyler. Back to the 5522, I remember hearing Thierry Stern say he wanted some of them to go to new first time Patek buyers. Seems like there are lots of opinions, on the purist forum they all agree buying a sealed watch like a Patek from a grey dealer is stupid. And like Thomas said anybody can reseal a plastic bag. Then again even legitimate dealers of preowned watches like European Watch Co say in their ad for preowned Patek like new in box. Even 15 year old watches! Practically every one for sale is LNIB.

I heard even that one members 5164 with no lume was lnib according to the description

[Socal to az]

I just reread the title of the thread- it's 60k POUNDS- which is like 70k US dollars.
Insane.

[nyc2la]

Originally Posted by Socal to az

I just reread the title of the thread- it's 60k POUNDS- which is like 70k US dollars.
Insane.

$60k USD is pretty insane, too!

[Vipes]

Originally Posted by martinr

Venetzia/The Jewelers is the same place Tyler. Back to the 5522, I remember hearing Thierry Stern say he wanted some of them to go to new first time Patek buyers. Seems like there are lots of opinions, on the purist forum they all agree buying a sealed watch like a Patek from a grey dealer is stupid. And like Thomas said anybody can reseal a plastic bag. Then again even legitimate dealers of preowned watches like European Watch Co say in their ad for preowned Patek like new in box. Even 15 year old watches! Practically every one for sale is LNIB.

Yea, all of their watches are LNIB. I guess they service and polish them to LNIB condition.

[mao-chi]

Originally Posted by GB-man

Can anyone confirm the 5522s are coming with papers already filled in from PP? Trying to assess the dealers ability to back door these.

Yes, the paper was (typed) filled with the new owner's name by PP before shipping to the AD.

According to my AD, for the 5522, PP request (strictly) the store has to keep the plastic bag and the brown shipping box. More, can not resale the watch in certain period (I forgot he said one year? or longer?).

[AK797]

Originally Posted by Socal to az

I just reread the title of the thread- it's 60k POUNDS- which is like 70k US dollars.
Insane.

More like $80K at today's rates.

[Socal to az]

Just spoke to my AD- My 5522 arrives this week. I'll let you guys know about the papers.

[AK797]

Originally Posted by nyc2la

I think Patek would want to know, for a LE in particular, if watches allocated to supposed good customers / collectors were being flipped. I would guess (and I may be wrong) that said good customer would lose the "good". To be fair, if the customer sold it at a later time (unsealed and worn) so be it. Can't (and shouldn't be able to) stop that. But the fact that it's within weeks of delivery and sealed shows the true intention here.

We know Rolex UK are certainly tracking down D500s flipped for profit and then seriously bollocking the ADs involved even when they have sold in good faith to a good customer who then turned mercenary. So it's possible PP could be interested but it took quite a few months for Rolex to get their act together and crack down on straight to grey ADs so not sure PP will bother with this LE or be able to act in time.

[GB-man]

Originally Posted by mao-chi

Yes, the paper was (typed) filled with the new owner's name by PP before shipping to the AD.

According to my AD, for the 5522, PP request (strictly) the store has to keep the plastic bag and the brown shipping box. More, can not resale the watch in certain period (I forgot he said one year? or longer?).

Thanks for answering my question

Just noticed one of the forum 5522s listed at 55,000 usd was marked sold after three days on the market. Who knows what the actual price was but still.

[SMD]

Originally Posted by martinr

The watch manufacturers already know who the grey dealers are. From what I've heard regarding AP for example, there's a legit AP dealer in Vegas, Venetzia is the name, they move more than the boutique and they have a grey outlet, lisalisa, that sells online with all documents. So when a manufacturer says they want to stop grey sales they really don't it's all talk.

Halgene.

I always find it amusing that people think the manufacturer's are desperate to crack down on the grey market. They work hand in glove to move inventory. Marriage of convenience.

[SMD]

Originally Posted by tyler1980

the online registering is fairly new. They changed the 3rd year warranty condition from getting a pressure test to now actually registering it so thats a big step in the last two years. Now if the warranty for registering the watch will soon be longer than the warranty the watch is sold with thats another big step to increase compliance with the registration system.

They are moving in the right direction so they are not doing nothing.

Reguarding Venetzia i have no idea as they are not an AD according to AP's website. Vagas has a boutique and a store called "The Jewelers", maybe thats the same one?.

Im pretty sure they don't care about reselling of used watches as we all do it or even BNIB low demand watches at discounts. They seem to not like the flipping BNIB above retail as a business.

The online registration has been around a lot longer than the past few years.

Venetzia was the name of the place in the Venetian. There were other locations previously (Forum Shops) but now with Westime running the newish boutique not sure what happened to them.

[martinr]

Originally Posted by SMD

Halgene.

I always find it amusing that people think the manufacturer's are desperate to crack down on the grey market. They work hand in glove to move inventory. Marriage of convenience.

Halgene it is. Venetzia is still there, was in there last month with texex.

[Socal to az]

I just returned from Vegas. Stayed at the Pallazo. I think venetizia was the watch shop In The lobby. Had a bunch of aps- wasn't interested so I didn't go in.

[codecow]

Originally Posted by GB-man

Can anyone confirm the 5522s are coming with papers already filled in from PP? Trying to assess the dealers ability to back door these.

The papers on mine came with my name already printed.

[codecow]

Originally Posted by GB-man

Thanks for answering my question

Just noticed one of the forum 5522s listed at 55,000 usd was marked sold after three days on the market. Who knows what the actual price was but still.

Wow they got a deal at 55k. I wouldn't be surprised to see this reference north of 100k.

[thomaspp]

Originally Posted by Socal to az

Just spoke to my AD- My 5522 arrives this week. I'll let you guys know about the papers.

Congrats!


Sent from my iPhone using Tapatalk

[Jason36]

Was with my AD this afternoon picking up a new addition. AD told me Patek released a more substantial directive on Friday of last week about the requirement to not include plastic wrapping or the travel box. It appears the mother ship is clearly following a few of the recently listed 5522s.

[KarlS]

Originally Posted by Jason36

Was with my AD this afternoon picking up a new addition. AD told me Patek released a more substantial directive on Friday of last week about the requirement to not include plastic wrapping or the travel box. It appears the mother ship is clearly following a few of the recently listed 5522s.

That's been out for awhile...not sure why they only got the memo on Friday!

[Jason36]

A second one. With more severe consequences.

[KarlS]

HSWA just paying lip service. They don't actually care who gets the watch. In the U.K. On a LE they hold your papers for 2 years. Kick, shout, be indignant, scream ownership they don't care - u want the watch we hold the papers - you no likey go to an AD elsewhere in the world! Simple, effective and unfortunate!

[GB-man]

Originally Posted by codecow

Wow they got a deal at 55k. I wouldn't be surprised to see this reference north of 100k.

Are you having a go?

[KarlS]

There is a reason why PP has been around so long....this is one of them!! They needed to stimulate the brand. Introduce a very average watch at an affordable price, limit it and watch the feeding frenzy. Think of the 5975 - a vastly superior watch - far more limited and relative obscurity!! The hype around the 5522 is more than PP could ever afford in taking out a spread in the FT!

[Star Ferry]

Originally Posted by codecow

Wow they got a deal at 55k. I wouldn't be surprised to see this reference north of 100k.

I'd go a step further and argue that assigning any monetary value to this reference is wrong. Surely the unit of value should be healthy kidneys or first-born infants

[GB-man]

Originally Posted by KarlS

There is a reason why PP has been around so long....thus is one of them!! They needed to stimulate the brand. Introduce a very average watch at an affordable price, limit it and watch the feeding frenzy. Think of the 5975 - a vastly superior watch - far more limited and relative obscurity!! The hype around the 5522 is more than PP could ever afford in taking out a spread in the FT!

Since collectors seem to like this model, I have to wonder if PP will be having exhibitions annually in different major cities each with their own limited releases?

Whose next? HK?

[codecow]

Originally Posted by Star Ferry

I'd go a step further and argue that assigning any monetary value to this reference is wrong. Surely the unit of value should be healthy kidneys or first-born infants

You sir are a scholar and a gentleman, this is spot on.

[KarlS]

Originally Posted by GB-man

Since collectors seem to like this model, I have to wonder if PP will be having exhibitions annually in different major cities each with their own limited releases?

Whose next? HK?

I think the 5130 provides the evidence! Shanghai, Dubai, Mecca, Edinburgh, Beirut, Qatar or anyone with a bit of dosh!!