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Old 2 April 2020, 07:13 AM   #1
slcharles
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Patek 5320G

Anyone know why preowned prices are low?
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Old 2 April 2020, 07:21 AM   #2
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Anyone know why preowned prices are low?
Low demand
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Old 2 April 2020, 03:32 PM   #3
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I actually had been thinking the same thing about values and the 5320g. I haven’t seen it in the metal.

It seems so close to being a true long term grail, but the triple lugs and the shiny dial, and large size I think are all a little off perhaps?
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Old 2 April 2020, 06:23 PM   #4
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It's a stunning reference, but Ninja plugged it.

Demand is very low, almost every AD I have been in has this in stock/ window piece.

Grey can pick it up around the 50-55k GBP unworn when AD retail is approx 67k GBP.
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Old 2 April 2020, 07:14 PM   #5
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I actually had been thinking the same thing about values and the 5320g. I haven’t seen it in the metal.

It seems so close to being a true long term grail, but the triple lugs and the shiny dial, and large size I think are all a little off perhaps?
Agree, beautiful 3448/3450 style PC dial layout, but why the dial finish, which almost looked like plastic to me in real life, and the mix of triple stepped lugs, syringe hands, and big pilot-style numerals, and all that in 40mm? I don't think this retro design will stand the test of time.

I'd love to see the same movement in a more minimal 38mm Calatrava-style case w silver dial, baton markers, and dauphine hands.
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Old 2 April 2020, 09:19 PM   #6
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They made too many


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Old 2 April 2020, 10:10 PM   #7
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Originally Posted by Rwatcher View Post
It's a stunning reference, but Ninja plugged it.

Demand is very low, almost every AD I have been in has this in stock/ window piece.

Grey can pick it up around the 50-55k GBP unworn when AD retail is approx 67k GBP.
Pretty much the case for all modern Patek dress watches... I donít know if itís sunk in yet... other than the nautilus 5711a and the expected ripple effect to the derivatives of that....


Patek dress watches really are no different than lange and VC.... the only reason it hung in better the past few years is due to bundling with the nautilus....

itís a dress watch. The world has shifted to become more casual. And as of today people donít go to work and the nautilus prices have been falling.


I might pick up a 5370P when it drops close to 125k
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Old 2 April 2020, 11:43 PM   #8
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Ninja - I just don’t think you’ve specified the reason correctly;

It’s not that the world has got more casual (it may have/it may not), it’s just that the world is more showy - like the 80’s. Sports Pateks (and Rolexes) are far more overt status signalling tools than their dress watch siblings. That is why people want them first and foremost IMO.

That’s one reason why Patek dress watches values are soft.

The other is that Patek just make too many compared to yesteryear. Thierry has made a mess.

That said, Post corona, it may just be a little obscene to step out of your Ferrari wearing a Gold Rolex.... and that’s why my 16808 has gone in exchange for a PP 5127. I just don’t want ANY association with the instaprick crowd.
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Old 2 April 2020, 11:44 PM   #9
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Pretty much the case for all modern Patek dress watches... I donít know if itís sunk in yet... other than the nautilus 5711a and the expected ripple effect to the derivatives of that....


Patek dress watches really are no different than lange and VC.... the only reason it hung in better the past few years is due to bundling with the nautilus....

itís a dress watch. The world has shifted to become more casual. And as of today people donít go to work and the nautilus prices have been falling.


I might pick up a 5370P when it drops close to 125k
I see it differently, the dress watch market is the dress watch market. Dress watch prices haven't really been affected in recent years on the secondary by the sports watch boom except possibly slightly negatively by purchasers doing the unthinkable and bundling a dress piece with the sports piece they actually wanted and then selling the dress piece on. It is the overpriced sports market that is in for a huge realignment. The used dress watch market will be affected by the general level of buying which will be down but the used sports watch market will be decimated due to the immense hype and overpricing it has experienced - 5711 included.
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Old 3 April 2020, 12:45 AM   #10
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I see it differently, the dress watch market is the dress watch market. Dress watch prices haven't really been affected in recent years on the secondary by the sports watch boom except possibly slightly negatively by purchasers doing the unthinkable and bundling a dress piece with the sports piece they actually wanted and then selling the dress piece on. It is the overpriced sports market that is in for a huge realignment. The used dress watch market will be affected by the general level of buying which will be down but the used sports watch market will be decimated due to the immense hype and overpricing it has experienced - 5711 included.
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Old 3 April 2020, 02:45 AM   #11
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It could also be the watch itself. A lot of people commented this watch is retro on steroids. Many people do not want hyper lume on a dress watch. The dial color may turn some people off. I would have preferred this piece in 38 or 38.5 as most Pateks wear big for their size. I had the watch, bought used and sold it shortly afterwards. It just did not work for me. Too big.
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Old 3 April 2020, 02:46 AM   #12
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Originally Posted by Russell996 View Post
I see it differently, the dress watch market is the dress watch market. Dress watch prices haven't really been affected in recent years on the secondary by the sports watch boom except possibly slightly negatively by purchasers doing the unthinkable and bundling a dress piece with the sports piece they actually wanted and then selling the dress piece on. It is the overpriced sports market that is in for a huge realignment. The used dress watch market will be affected by the general level of buying which will be down but the used sports watch market will be decimated due to the immense hype and overpricing it has experienced - 5711 included.

I’m guilty of bundling. It’s also how I invest lol... I think about things in totality...and I am the definition of momentum.But there’s a lot of people like me. I know a bunch of you guys on this forum...lol. It’s just the way the market works when things are hot... That creates artificial demand...that finds its way to secondary market

As for the market being stagnant while the sports market boomed... that tells me (as someone that observed all markets)...excuse my French... it sucked when the market was hot...it probably going to suck more when the market is not.

I do agree the 5711 is a little overhyped... and all of the other nautilus’ which is riding on the coat tails... product extensions only work in a hot market...




Quote:
Originally Posted by Murcielagoboy2 View Post
Ninja - I just don’t think you’ve specified the reason correctly;

It’s not that the world has got more casual (it may have/it may not), it’s just that the world is more showy - like the 80’s. Sports Pateks (and Rolexes) are far more overt status signalling tools than their dress watch siblings. That is why people want them first and foremost IMO.

That’s one reason why Patek dress watches values are soft.

The other is that Patek just make too many compared to yesteryear. Thierry has made a mess.

That said, Post corona, it may just be a little obscene to step out of your Ferrari wearing a Gold Rolex.... and that’s why my 16808 has gone in exchange for a PP 5127. I just don’t want ANY association with the instaprick crowd.

I agree with some points and I disagree with others...
The world is more showy like all guilded periods and if you think a 100-250k Patek dress watch is not showy...we have different definitions of showy. Patek is the definition of opulence.

As for more supply... I agree he should have sized the maket better BUT also remember Rolex has increased production no?

Post recession I wouldn’t want to step out of a ferrari... the term stealth wealth started creeping around which was a silly term personally. Wouldn’t want to be a target.
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Old 3 April 2020, 02:52 AM   #13
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Note the lugs hang off my 6.5 inch wrist.
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Old 3 April 2020, 03:03 AM   #14
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It could also be the watch itself. A lot of people commented this watch is retro on steroids. Many people do not want hyper lume on a dress watch. The dial color may turn some people off. I would have preferred this piece in 38 or 38.5 as most Pateks wear big for their size. I had the watch, bought used and sold it shortly afterwards. It just did not work for me. Too big.
Would agree but all the other dress watches are also weak every single one of them.
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Old 3 April 2020, 04:02 AM   #15
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5170p forever lol. Undervalued
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Old 3 April 2020, 04:03 AM   #16
Murcielagoboy2
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Note the lugs hang off my 6.5 inch wrist.
A lovely looking watch but you're quite right, that IS too big.
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Old 3 April 2020, 04:40 AM   #17
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As for the market being stagnant while the sports market boomed... that tells me (as someone that observed all markets)...excuse my French... it sucked when the market was hot...it probably going to suck more when the market is not.
Well we will see, has the Patek dress watch market really changed that much during the rise of Nautilus and Aquanauts? - I’m not sure it has.

As to whether the dress watch market sucks I guess I’m simply realistic - buy a luxury good with 20% vat added to the price and not expect to lose at least the tax instantly you walk out the store would seem unlikely with most luxury products - it’s not a reflection on the item.
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Old 3 April 2020, 04:56 AM   #18
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I got a chance to see my AD's first 5320G when it was delivered back in January 2018 (or was it 2017)...can't recall what year that model was released. I loved it in pictures and when I saw it in the metal, while I did like it, I didn't like it enough to spend the $83k plus tax at the time. Looking back, I'm glad I passed on it.

However, I was also offered a 5990 at the same time (saw both watches together)...didn't need to bundle, just was given both watches to see if I wanted to buy both or either. In hindsight, I wish I'd picked up the 5990. Oh well.
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Old 3 April 2020, 05:26 AM   #19
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Well we will see, has the Patek dress watch market really changed that much during the rise of Nautilus and Aquanauts? - Iím not sure it has.

As to whether the dress watch market sucks I guess Iím simply realistic - buy a luxury good with 20% vat added to the price and not expect to lose at least the tax instantly you walk out the store would seem unlikely with most luxury products - itís not a reflection on the item.

Yíall europeans are so lucky with that VAT ... but what will be a reality is the Potential 40% unemployment rate in the US and whatever it is in every other country other than China....


Fire sale time for lots and lots of greys... u can see it happening with repo rates collapsing. Even companies are fully drawing down revolvers... no way the normal Grey dealer or some people come out of this unscathed...
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Old 3 April 2020, 05:45 AM   #20
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If you could trade a 5711a for 5320g, who would do it. Precious metal grand complication for 3 hand steel?
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Old 3 April 2020, 06:03 AM   #21
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If you could trade a 5711a for 5320g, who would do it. Precious metal grand complication for 3 hand steel?
Iíd do it but would want 10k back
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Old 3 April 2020, 07:59 AM   #22
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If you could trade a 5711a for 5320g, who would do it. Precious metal grand complication for 3 hand steel?
I would for sure.
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