The Rolex Forums   The Rolex Watch

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX


Go Back   Rolex Forums - Rolex Watch Forum > Other (non-Rolex) Watch Topics > Patek Philippe Discussion Forum

Reply
 
Thread Tools Display Modes
Old 24 May 2018, 05:20 AM   #31
jrs146
"TRF" Member
 
jrs146's Avatar
 
Join Date: Aug 2011
Real Name: Josh
Location: Lost in time
Watch: Me Nae Nae
Posts: 9,821
Quote:
Originally Posted by tyler1980 View Post
over retail premiums i agree with you. Based on having customers who buy watches in all market conditions i think Patek has the advantage. Patek's target customer has generational wealth or is high enough on the ladder to not be affected in economic down turns the same way other demographic groups are. They use economic downturns to make money where as other people are losing their house.


This is also how I interpreted the statement of patek being more insulated. If there is a major economic correction you will see way less Patek’s for sale compared to Rolex. Just by nature of the people purchasing them. One could assume because Rolex supply could increase more than Patek would, that prices would be quicker to drop on Rolex.


Sent from my iPhone using Tapatalk
__________________
"Sometimes the songs that we hear are just songs of our own."
-Jerome J. Garcia, Robert C. Hunter
jrs146 is offline   Reply With Quote
Old 24 May 2018, 05:37 AM   #32
rw2008
"TRF" Member
 
rw2008's Avatar
 
Join Date: Apr 2016
Location: North Carolina
Watch: Rolex AP Patek
Posts: 659
Quote:
Originally Posted by GB-man View Post
I don’t agree that SS Patek is more insulated than SS Rolex professional subs/GMT/Daytona. Marketing is king and Patek will never have the brand Rolex does nor are they trying.

Safest watch to buy today that’s easy for average joe to obtain, imho is an SS sub date at retail.
I'm not exactly sure how either point applies to insulation during recession times.

With regard to branding, the Patek buying market is already as specialized as it gets. Basically, if your buying a Patek, you already know what a Patek is, regardless of economic condition. So while it's true that Rolex's reach and branding is second to none, I'm not exactly sure why that matters in this hypothetical.
rw2008 is offline   Reply With Quote
Old 24 May 2018, 06:08 AM   #33
Sam Philip
Banned
 
Join Date: Apr 2012
Location: UK
Posts: 4,345
Quote:
Originally Posted by tyler1980 View Post
WF recently refused to buy one, apparently. I think they are having cash flow issues though.
Not surprised they are having cash flow issues. They can't seem to move their "complications" pieces. They still have the 3 5524Gs, 5905P and the 5960G. They also have a 5170P listed at £62750, they must have offered the seller in the region of £50000 so a big hit for a 2017 model.
Sam Philip is offline   Reply With Quote
Old 24 May 2018, 07:21 AM   #34
AK797
2024 Pledge Member
 
AK797's Avatar
 
Join Date: Feb 2010
Real Name: Neil
Location: UK
Watch: ing ships roll in
Posts: 59,068
Quote:
Originally Posted by Sam Philip View Post
Not surprised they are having cash flow issues. They can't seem to move their "complications" pieces. They still have the 3 5524Gs, 5905P and the 5960G. They also have a 5170P listed at £62750, they must have offered the seller in the region of £50000 so a big hit for a 2017 model.
Still 3 5524s? seems like since last year, and they are now having more trouble getting the popular Rolexes in as ADs are shutting down flippers.

As for future insulation, Rolex and PP will do equally well given their primary positions in their respective markets, and a collapse or freefall is just frustrated hyperbole at this point, and any downturn in the next few years will be followed by an upturn a few years after that, so really makes no difference unless you are a trader.
AK797 is online now   Reply With Quote
Old 24 May 2018, 07:27 AM   #35
tyler1980
"TRF" Member
 
tyler1980's Avatar
 
Join Date: Apr 2015
Location: Houston
Posts: 17,622
Quote:
Originally Posted by AK797 View Post
Still 3 5524s? seems like since last year, and they are now having more trouble getting the popular Rolexes in as ADs are shutting down flippers.

As for future insulation, Rolex and PP will do equally well given their primary positions in their respective markets, and a collapse or freefall is just frustrated hyperbole at this point, and any downturn in the next few years will be followed by an upturn a few years after that, so really makes no difference unless you are a trader.
ive never thought the 5524 was particularly flippable. Its pretty rare, but thats because they don't make a lot even in relation to the SS nautilus not because it has a huge market. A 7 year WL at the salon for a 5524 probably just means there are 7 people on the list. A 7 year 5711 waitlist means there are 50 people on the list.

The 5524 premiums come later though. I do think its an odd watch (by Patek standards) and low production watch with a finite production run in WG, especially with the R now being released. Its a long term play if anything.
__________________
Instagram: tyler.watches
current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition)
tyler1980 is offline   Reply With Quote
Old 24 May 2018, 07:51 AM   #36
Hairdude1
"TRF" Member
 
Hairdude1's Avatar
 
Join Date: Apr 2012
Real Name: Alex
Location: Chicago
Watch: AP,PP, Rolex
Posts: 37,156
The market is insane
__________________
Instagram: @Hairdude
Watches in Collection 5070R, 5522A, 214270 MK1, 228238

16750, 26401, 5711, 116718, 116710LN, 116300, 16710"Coke", 372, 15300, 15703 (All Flipped)
Official Member "Perpetual 30" Las Vegas GTG 2016
Official Member "WIS-CON" Las Vegas International GTG 2017
Official Member 'WIS-CON' Las Vegas Int'l GTG 2018
Hairdude1 is offline   Reply With Quote
Old 24 May 2018, 11:26 AM   #37
g3ncs
"TRF" Member
 
Join Date: May 2018
Location: Hong Kong
Watch: Patek Philippe
Posts: 20
Quote:
Originally Posted by tyler1980 View Post
over retail premiums i agree with you. Based on having customers who buy watches in all market conditions i think Patek has the advantage. Patek's target customer/traditional customer has generational wealth or is high enough on the ladder to not be affected in economic down turns the same way other demographic groups are. They use economic downturns to make money where as other people are losing their house.

Obviously not all, but its a different crowd than the typical rolex buyer. I feel out of place sometimes with Patek, not so with Rolex.
well said,
g3ncs is offline   Reply With Quote
Old 24 May 2018, 09:25 PM   #38
chsu74
"TRF" Member
 
Join Date: Jan 2010
Location: CT
Watch: 16710,116520,SLA19
Posts: 405
Quote:
Originally Posted by tyler1980 View Post
over retail premiums i agree with you. Based on having customers who buy watches in all market conditions i think Patek has the advantage. Patek's target customer/traditional customer has generational wealth or is high enough on the ladder to not be affected in economic down turns the same way other demographic groups are. They use economic downturns to make money where as other people are losing their house.

Obviously not all, but its a different crowd than the typical rolex buyer. I feel out of place sometimes with Patek, not so with Rolex.


Disagree. Patek has become fashionable and thus have attracted more cash flow wealth instead of the traditional accumulated wealth customers. The former buying pool will disappear in an economic downturn.
chsu74 is offline   Reply With Quote
Old 24 May 2018, 11:45 PM   #39
rw2008
"TRF" Member
 
rw2008's Avatar
 
Join Date: Apr 2016
Location: North Carolina
Watch: Rolex AP Patek
Posts: 659
Quote:
Originally Posted by chsu74 View Post
Disagree. Patek has become fashionable and thus have attracted more cash flow wealth instead of the traditional accumulated wealth customers. The former buying pool will disappear in an economic downturn.
I think "in addition to" is more appropriate here.
rw2008 is offline   Reply With Quote
Old 25 May 2018, 10:52 AM   #40
Will1979
"TRF" Member
 
Join Date: Jan 2017
Location: Chicago
Posts: 143
Quote:
Originally Posted by chsu74 View Post
Disagree. Patek has become fashionable and thus have attracted more cash flow wealth instead of the traditional accumulated wealth customers. The former buying pool will disappear in an economic downturn.
Agree with this. And on the 57xx, add a bunch more who don’t even have cash flow wealth but realize they can make a quick $10k or more if they get “the call”/lottery ticket.
Will1979 is offline   Reply With Quote
Old 25 May 2018, 10:30 PM   #41
chsu74
"TRF" Member
 
Join Date: Jan 2010
Location: CT
Watch: 16710,116520,SLA19
Posts: 405
Quote:
Originally Posted by rw2008 View Post
I think "in addition to" is more appropriate here.


Agree. Historical sales and demand from the accumulated wealth crowd on SS nautilus is not high. What we are seeing today is also the reason Tiffany is doing well.

This will all go away if you are patient. Thinking that a market correction will come sooner than “my name on a list somewhere call.”
chsu74 is offline   Reply With Quote
Old 25 May 2018, 11:50 PM   #42
Emptywrist
"TRF" Member
 
Join Date: Jan 2017
Location: NW England
Posts: 171
Quote:
Originally Posted by Ichiran View Post
The rappers are buying all the 5711 for busting down.
"Cause you rappers found every way to ruin Pateks"


Sent from my ONEPLUS A3003 using Tapatalk
Emptywrist is offline   Reply With Quote
Old 25 May 2018, 11:52 PM   #43
Ichiran
2024 Pledge Member
 
Ichiran's Avatar
 
Join Date: Jan 2018
Real Name: Michael
Location: Dotonbori
Watch: Mostly blue dials
Posts: 7,516
Quote:
Originally Posted by Emptywrist View Post
"Cause you rappers found every way to ruin Pateks"

Sent from my ONEPLUS A3003 using Tapatalk
"It's a nightmare, yeah"
Ichiran is online now   Reply With Quote
Old 26 May 2018, 11:56 PM   #44
Calatrava r
2024 Pledge Member
 
Join Date: Mar 2017
Location: United States
Watch: Rolex and Patek
Posts: 10,520
Great news for all the posters who say they do not want a Nautilus. They will not have to through all the wait, headache and cost to buy one.
Calatrava r is offline   Reply With Quote
Old 27 May 2018, 12:11 AM   #45
Bearxj86
"TRF" Member
 
Bearxj86's Avatar
 
Join Date: Jun 2017
Location: Los Angeles
Watch: 3970
Posts: 3,793
It's only going to get worse/better depending how you look at it.
Bearxj86 is offline   Reply With Quote
Reply


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

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Takuya Watches

Bobs Watches

My Watch LLC

OCWatches

DavidSW Watches

Coronet


*Banners Of The Month*
This space is provided to horological resources.





Copyright ©2004-2024, The Rolex Forums. All Rights Reserved.

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Rolex is a registered trademark of ROLEX USA. The Rolex Forums is not affiliated with ROLEX USA in any way.