5056p

[LienTN]

Hi,

I am a newbie here.

Can you please help me? I've been offered this watch, 5056P. It's in excellent condition, was made in year 2000. It comes with box and certificate of origin and a receipt from Sotheby's.

The seller is asking for USD 40k. Is this a fair price?

Thank you.

[Benzsiam]

If you don’t have to pay tax seems like a fair price.

You can check on Chrono24 for market price.

It depends on condition too.

[LienTN]

Originally Posted by Benzsiam

If you don’t have to pay tax seems like a fair price.

You can check on Chrono24 for market price.

It depends on condition too.

Thank you for replying. No, no tax on top of the USD40k.

Prices on Chrono24 seem to be on par. But I am a newbie to the watch market, so am not sure about prices.

Condition is excellent.

[jon_jon]

Prices have been increasing on discontinued Patek watches over the past couple of years. For a 20+ year old watch, you may want to ask if it has been serviced. Also consider the more modern 5146P, which has been produced for many years and recently discontinued.

[LienTN]

Originally Posted by jon_jon

Prices have been increasing on discontinued Patek watches over the past couple of years. For a 20+ year old watch, you may want to ask if it has been serviced. Also consider the more modern 5146P, which has been produced for many years and recently discontinued.

**duplicate post **

[LienTN]

Originally Posted by jon_jon

Prices have been increasing on discontinued Patek watches over the past couple of years. For a 20+ year old watch, you may want to ask if it has been serviced. Also consider the more modern 5146P, which has been produced for many years and recently discontinued.

Thanks so much for reply, Jon.

This is from a private individual, a friend. He only has this model.

Is this still a good watch to get? And I know there's no guarantee but the price "should" continue to go up, do you think?

He says it's been serviced. He's just checking to see when exactly. Good point!

[Will89]

I have had my 5056P for about 3 years now. It is a beautiful watch but it wears on the smaller side. I would advise you try it on first if you can. It did grow on me overtime but when I originally received it I thought I made a mistake ordering it. My 5146G for instance feels much bigger despite only being 39mm vs 37mm on the 5056p.
I paid $38,000 for a like-new so it is a piece you buy because you love (as it should be) Great value for money overall. Good luck with the decision.

[LienTN]

Originally Posted by Will89

I have had my 5056P for about 3 years now. It is a beautiful watch but it wears on the smaller side. I would advise you try it on first if you can. It did grow on me overtime but when I originally received it I thought I made a mistake ordering it. My 5146G for instance feels much bigger despite only being 39mm vs 37mm on the 5056p.
I paid $38,000 for a like-new so it is a piece you buy because you love (as it should be) Great value for money overall. Good luck with the decision.

Thank you so much for replying, Will.

I am a woman and also have tiny wrists. So 37mm is prob right for me maybe even a tad big; and I will have a chance to try it on before buying it. A friend is selling it. Glad you think it's a beautiful watch. I'm gonna try and offer 37k to my friend, as it is a used piece though he says it's in excellent condition. Agreed that it's great value for money.

[Benzsiam]

I think 37k should be fair price for both of you. If she sell to the dealer, she will get less.

[jeffnar]

I had this watch and traded in for a 5205R black dial because it fit too small on my wrist. It is a beautiful watch for the money and also do not forget Patek made less than 1,000 of them which makes them more rare.

I agree with Will89 that it is a great value for money and also a watch you buy to really enjoy Patek at its best, a rare complicated dress watch in platinum that was produced in low numbers.

I would also do a search in the US, and try to find a trusted seller who has one for sale, even if just to compare.

Good luck!

[LienTN]

Thank you, Benzsiam and Jeffnar. You've both made excellent points. I shall go into negotiation armed with very useful knowlege.

[roadie1]

I had a 5056P many years ago. I think I paid 20ish at Wempe NYC on a weekend trip with my wife just before our daughter was born. Sold it for mid 20’s I think. It was a cool smaller piece. Wish I had kept it.


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[kanwind]

I had a 5056P before, it is a nice watch with platinum, the diamond on the 6 o’clock always smile to me, but finally i sold it to raise fund for purchasing 5320G and 5712R in pair
It maybe a little small for now man watch standard, but it is a nice watch if u accept 37mm

[kanwind]

I had a 5056P before and finally sold it to raise fund for purchasing 5320G and 5712R in pair
5056P is a really nice watch and you know platinum is so expensive in PP watch, it is the only platinum man watch that i can afford, and also the diamond near 6 o’clock seem slways seem smile to me,
It is a hard decision to sell it, but no method in order to raise fund gor my 5320 and 5712,
5056P is a little small for now man watch standard and if u can accept 37mm, it is a nice watch