Your Name on Paperwork?

[Tay821]

I'm planning on picking up my first Patek soon and am wondering if it matters that much if your name isn't on the paperwork when you buy. Do you mind buying used if all papers are there and watch is in mint condition?

I'm trying to figure out if I want to go New (from AD) with my name on the papers, New from a grey dealer, or purchase it used. I realize options 2 or 3 I'd be saving a significant amount of money as the pieces I'm looking at aren't typically discounted much. Looking for advice or first hand story on which route you went. This will be my first Patek and I'll be purchasing to commemorate a professional life event. I'm ~30 and work in a traditional corporate setting. I'd be rotating it with a BLNR (which I can't trade as it was a wedding gift from the wife)

Will be getting an Aquanaut (5167 or 5167r) or Nautilus (5711 or 5712)...I have not decided yet. Realize they're different pieces with very different price points, especially when you compare a 5167 to a 5167r or 5712. 5167 is the easiest on the wallet by far with the 5711 next and 5167r & 5712 over $30k...Would have to wait a bit longer for these two with the higher $$ tag.

I've got a good relationship with the local AD and he'll be able to get what I want (within a few months time after placing the order), however, little to no discount...if I wanted my name on the papers

[ap1]

If you are a keeper I'd go nib. If you may flip then maybe complete set but used / grey may be palatable. For pp I'm AD at this point.

[goog53]

Get the 5711 from an AD. Won't get a discount from grey dealers. That watch will be a keeper for you and if not won't lose much if any. Very versatile to dress up with a suit or down with jeans and t-shirt. Name on papers IMO is no big deal unless the watch is for sure a keeper and on possibly special edition versions. My papers have my name on them and sit in a safe and are never looked at.

[AK797]

I'd go with the AD. I had excellent service from mine and it made buying it that extra bit special, plus he can throw in a watch case or tie just to add to the whole experience, and they can take care of you should you need them later as I needed mine a few weeks ago for a bizarre occurrence.

[jon_jon]

Originally Posted by ap1

If you are a keeper I'd go nib. If you may flip then maybe complete set but used / grey may be palatable. For pp I'm AD at this point.

Agree with this solid advice

If you already have a relationship with an AD, cultivating that relationship over time can be usefu, especially with Patek ADs. If there is a problem with the watch within the warranty period or even afterwards, they will do their best to help. They may also help you get hard to obtain pieces or invite you to special events which can be fun to attend.

If you are only concerned about the price and don't think you will buy another Patek watch, then pre-owned from a gray seller is not a bad idea.

[Tay821]

Originally Posted by jon_jon

Agree with this solid advice

If you already have a relationship with an AD, cultivating that relationship over time can be usefu, especially with Patek ADs. If there is a problem with the watch within the warranty period or even afterwards, they will do their best to help. They may also help you get hard to obtain pieces or invite you to special events which can be fun to attend.

If you are only concerned about the price and don't think you will buy another Patek watch, then pre-owned from a gray seller is not a bad idea.

Thanks for the advice. Having that relationship would be good and the watches that I'm narrowed down to, I can't get much of a discount on "new" even in the grey market so thinking it would be in my best interest to go through an AD and the the whole experience. It would be nice to get some swag as well.

I'll likely be keeping this one since it's to commemorate something...plus if its a Nautilus, there's no reason to flip it down the line

[Tay821]

Originally Posted by jon_jon

Agree with this solid advice

If you already have a relationship with an AD, cultivating that relationship over time can be usefu, especially with Patek ADs. If there is a problem with the watch within the warranty period or even afterwards, they will do their best to help. They may also help you get hard to obtain pieces or invite you to special events which can be fun to attend.

If you are only concerned about the price and don't think you will buy another Patek watch, then pre-owned from a gray seller is not a bad idea.

To respond to your second part, there's a good chance I'd go gray dealer from then on after this one. I'm not the type of person that is going to be buying any limited editions. However price is always a concern though. Especailly when I can pay ~$19k+Tax for an Aqua with my name on papers or pay ~$17.5 or so from a gray dealer here for a BNIB or LNBNIB, which is also okay with me...saves ~$2,500 or so

[enjoythemusic]

Go gray no name. Did it many times and saved a bundle of $$$$ on Pateks. Yes Patek still honors warranty as had them service many timepieces over the past few decades. It matters not if you're keeping it of flipping it, and actually no name has an advantage when you flip it.

[Lordofrolex]

Personally would never buy a new watch again. But everyone is different.

[Tay821]

Originally Posted by enjoythemusic

Go gray no name. Did it many times and saved a bundle of $$$$ on Pateks. Yes Patek still honors warranty as had them service many timepieces over the past few decades. It matters not if you're keeping it of flipping it, and actually no name has an advantage when you flip it.

Forgive me for being thick headed here but When you say no name has an advantage when flipping, what do you mean here?

I'm all for saving money too. Would even take a trip to Europe to save on tax and with the favorable exchange rates

[enjoythemusic]

Some resellers, and secondhand buyers, like 'open papers' versus a name on them. Also, with your name on the papers it could add a privacy issue, if you're concerned about such things.

I also agree if you can save even more then a secondhand Patek can be a good deal. Generally, before I sold the ones here I'd have them serviced and polished. Left them service sealed. Thus service warranty and the buyer was confident of the condition.

Buy smart, save money, and when you sell maximize your advantage.

Example: Am getting an Everose with diamonds DD40 so posted on TFR my desire. Also called a few dealer friends I've done biz with. Dealers chimed in, a few emails and... delivered to my door 33% off brand new with fresh five year warranty (the one I desire can't seem to be found secondhand). Plenty of secondhand Pateks out there, so save as much as you can.

[Tay821]

Originally Posted by enjoythemusic

Some resellers, and secondhand buyers, like 'open papers' versus a name on them. Also, with your name on the papers it could add a privacy issue, if you're concerned about such things.

I also agree if you can save even more then a secondhand Patek can be a good deal. Generally, before I sold the ones here I'd have them serviced and polished. Left them service sealed. Thus service warranty and the buyer was confident of the condition.

Buy smart, save money, and when you sell maximize your advantage.

Example: Am getting an Everose with diamonds DD40 so posted on TFR my desire. Also called a few dealer friends I've done biz with. Dealers chimed in, a few emails and... delivered to my door 33% off brand new with fresh five year warranty (the one I desire can't seem to be found secondhand). Plenty of secondhand Pateks out there, so save as much as you can.

Great advice thank you. Didn't realize you could get a new patek with open papers from a grey dealer or reseller

[locutus49]

This: (5711)

Originally Posted by goog53

Get the 5711 from an AD. Won't get a discount from grey dealers. That watch will be a keeper for you and if not won't lose much if any. Very versatile to dress up with a suit or down with jeans and t-shirt. Name on papers IMO is no big deal unless the watch is for sure a keeper and on possibly special edition versions. My papers have my name on them and sit in a safe and are never looked at.

[enjoythemusic]

Originally Posted by Tay821

Great advice thank you. Didn't realize you could get a new patek with open papers from a grey dealer or reseller

Always glad to help. Decades of experience and learning the hard (and expensive) way has been a good teacher. Patek factory still gets paid in full, you're simply maximizing how much you save on the product. Of course it also depends on the model of watch, as some, like the SS ceramic Daytona, go for more than list due to high demand. Patience can be rewarded. Also, for known highly desired products (Patek, Rolex, etc) that you know will sell over list price, get on AD lists early, buy as many as you can and flip them for profit. If you travel the world, sometimes buying a watch in one country and flipping it in another has financial benefits too.

[Tony64]

I'd want my own name on the papers. Years ago Patek AD's would leave the papers "open" if requested, but for all my recent purchases they've insisted on filling them out per Patek policy. Perhaps it's an attempt to devalue the watch to discourage flippers?