4% global price increase on all new Pateks effective June 1st, 2019

[Fat_ninja]

Originally Posted by GeraldGentaFan

When people are paying 100% over list, 4% is hardly going to make a difference.

The people paying up in the secondary are not on a list :)


Im a big fan of patek raising prices to find the line...ive said before that They need to find the line. If customers dont leave...they are Leaving too much on the table.


They should get to the line straddle it

[benlee]

Some price adjustment is probably reasonable given the insane demand for some PPs. I think AP has also done it. I am quite surprised Rolex have not increased at all.

[zahain]

Originally Posted by Fat_ninja

The list just got shorter :)

*longer

there you go, now its correct

[Fat_ninja]

Originally Posted by benlee

Some price adjustment is probably reasonable given the insane demand for some PPs. I think AP has also done it. I am quite surprised Rolex have not increased at all.

Rolex did... they essentially made all SS models unobtainable. Thereby shhifting mix of sales up. By discontinueing the GMT II and intoducing the nee BLNR. Explorer 1 have waitlist. And now people talking about seeing TT GMT’s. And buying PM pieces.

If i buy a ferrari, will you sell me the honda type R?

[danestaff]

Look everybody who is hating against the idea of a price increase, means they are on the list for 1

The people who ain't and own pateks well your stock has just gone up

If your employment you all want a pay rise each year I'm sure, so just suck it up

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[Fat_ninja]

Originally Posted by danestaff

Look everybody who is hating against the idea of a price increase, means they are on the list for 1

The people who ain't and own pateks well your stock has just gone up

If your employment you all want a pay rise each year I'm sure, so just suck it up

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I believe the secondary market helps price discovery... people should not complain about it and realize that its helping to be transparency. Patek and rolex im sure embraces it as much as people complain about it.


Its like talking about the world pre AL Gore inventing the internet lol


Btw missed that u went to Hermes... wife bought the ugliest bag from one of our Hermes relationships... the other hermes relationship is upsey about it... lol.

[benlee]

Originally Posted by Fat_ninja

Rolex did... they essentially made all SS models unobtainable. Thereby shhifting mix of sales up. By discontinueing the GMT II and intoducing the nee BLNR. Explorer 1 have waitlist. And now people talking about seeing TT GMT’s. And buying PM pieces.

If i buy a ferrari, will you sell me the honda type R?

Valid point, but I don't think they have actually increased the MSRP officially for existing models. That's what I mean. Maybe they prefer it this way as it's working out very well for Rolex like you said.

[danestaff]

Originally Posted by Fat_ninja

I believe the secondary market helps price discovery... people should not complain about it and realize that its helping to be transparency. Patek and rolex im sure embraces it as much as people complain about it.


Its like talking about the world pre AL Gore inventing the internet lol


Btw missed that u went to Hermes... wife bought the ugliest bag from one of our Hermes relationships... the other hermes relationship is upsey about it... lol.

Indeed

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[Fat_ninja]

Originally Posted by danestaff

Indeed

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I knew u remembered the pre internet days which is why ive always been impress with your use of the ipone lol.

[danestaff]

Originally Posted by Fat_ninja

I knew u remembered the pre internet days which is why ive always been impress with your use of the ipone lol.

Arrr magazine for porn, VHS or even beta max

The good old days

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[Rwatcher]

Txt my AD also, he said at the Basel meetings it was indeed mentioned but % not confirmed with them. They await the email.

[AK797]

Originally Posted by benlee

Some price adjustment is probably reasonable given the insane demand for some PPs. I think AP has also done it. I am quite surprised Rolex have not increased at all.

Rolex are the great sadists or masochists depending on which side of the cash register you are on... or their ageing board are just still fast asleep.

[KWongyaowarat]

I would be happy to buy even they increase the price by 50% for those hot models if they can make the waiting list shorter!!

[Louribal]

Glad I paid in full for my wife’s 7118!

[bonsai-man]

Originally Posted by Louribal

Glad I paid in full for my wife’s 7118!

If you are waiting for an allocation from an AD the price you pay will be the full MSRP at the time of delivery to the AD, regardless of whether you paid in advance in full.

If an increase does occur on June 1st you can choose to pay the balance or pass unless the AD is willing to take the hit for you.

Sorry for the downer, but it happened to me

[jrs146]

4% is nothing. Wasn’t the last price increase of the 5711/5712 20%? Sure didn’t hurt sales at all!


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[jrs146]

Originally Posted by bonsai-man

If you are waiting for an allocation from an AD the price you pay will be the full MSRP at the time of delivery to the AD, regardless of whether you paid in advance in full.



If an increase does occur on June 1st you can choose to pay the balance or pass unless the AD is willing to take the hit for you.



Sorry for the downer, but it happened to me

This happened to me on my 5712. I was on a wait list. The price went up I think ok the first day of May. I got my call several days later. It’s funny because Patek must have starved the market. Raised prices. And then sent a fresh allocation to their ADs right after.


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[mobster600]

If they have inventory sure, I’ll pay the 4% but I want the watch yesterday.

[JR16]

Originally Posted by jrs146

4% is nothing. Wasn’t the last price increase of the 5711/5712 20%? Sure didn’t hurt sales at all!


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4% seems merciful in comparison!


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[GB-man]

Originally Posted by JR16

4% seems merciful in comparison!


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Lest we forget they also cut prices like 7% across the board in the USA anyways circa 2013-2014.

[JR16]

Originally Posted by GB-man

Lest we forget they also cut prices like 7% across the board in the USA anyways circa 2013-2014.

Good point. Alas, I missed out on the good ‘ol days!


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[bonsai-man]

Originally Posted by JR16

Good point. Alas, I missed out on the good ‘ol days!


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Yes, I remember that, I think they expected other brands to follow but they weren’t so stupid and didn’t.

I think they got a lot of stick for it and promptly raised the prices the following year. For me PP are reassuringly expensive, admitting to your customers they are overpriced with a “price correction” sends the wrong message imo.

[Louribal]

Originally Posted by bonsai-man

If you are waiting for an allocation from an AD the price you pay will be the full MSRP at the time of delivery to the AD, regardless of whether you paid in advance in full.

If an increase does occur on June 1st you can choose to pay the balance or pass unless the AD is willing to take the hit for you.

Sorry for the downer, but it happened to me

Hopefully my AD will take the hit! We’ll see

[vlps]

inflation is 3%, a 4% increase in a luxury market is normal

[rollyp]

Originally Posted by GB-man

Lest we forget they also cut prices like 7% across the board in the USA anyways circa 2013-2014.

Originally Posted by bonsai-man

Yes, I remember that, I think they expected other brands to follow but they weren’t so stupid and didn’t.

I think they got a lot of stick for it and promptly raised the prices the following year. For me PP are reassuringly expensive, admitting to your customers they are overpriced with a “price correction” sends the wrong message imo.

I recall the price cut happening around February 2015 and they've kept prices steady since, save the 5711 and 5712. If that's correct then 4% after 4 years ain't so bad.

[bonsai-man]

Originally Posted by rollyp

I recall the price cut happening around February 2015 and they've kept prices steady since, save the 5711 and 5712. If that's correct then 4% after 4 years ain't so bad.

Not quite low and steady for 4 years, at least in the UK

Mar 2015 - 10% decrease all models
Aug 2016 - 10% increase all models
Sep 2017 - 5.5% increase all models
Mar 2018 - 20% 5711a and 5712a only
Jun 2019 - unconfirmed

[whuang29]

Heard it from my AD as well

[Calatrava r]

Doesn't Patek make an official company statement on price changes? Seems like they did when they cut prices 7 percent in some countries. Until we hear from PP nothing is certain.

[bonsai-man]

Originally Posted by Calatrava r

Doesn't Patek make an official company statement on price changes? Seems like they did when they cut prices 7 percent in some countries. Until we hear from PP nothing is certain.

Not sure about an official PP statement, they did for the reduction to explain why. I guess they needed to retain customer confidence in the brand, I’m not sure it helped though. I wasn’t happy at the time having a substantial reduction less than a month after I pulled the trigger. PP never acknowledged or replied to any of my messages, I should have written to TS via snail mail in hind sight.

Strangely though my next allocation arrived 12 days after the 20% increase, but that’s PP you pay to play I guess.

Nothing is certain with rumours, usually the price leaks out a few days early not usually months. I always go by the price on the PP website or catalogue only, as AD’s say lots of things.

[Russell996]

AD’s were officially told at Basel - there is no doubt!

All new Basel pieces were released at the increased price point, the price of these pieces will not change.