Advice on a used 5140P

[MrBenF]

Hi, I’d like to get some advice on a used 5140P.

My local dealer has one that’s recently come in. It’s the platinum model with a blue face. The watch (sold 5/2012) is in (almost) lnib condition although:
- no sapphire back, only solid
- no papers, only extract from archives
- no box
- no accessories

Normally, I’d only be interested if it comes complete with papers and all accessories. But in this case, the asking price already takes all that into account and is attractive (USD44k).

Does anyone know if it’s possible to purchase a replacement sapphire back?

At that price, is it worth doing?

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[subtona]

too much and i wouldn't considering all the issues.

[MrBenF]

I’m not familiar with the market price for this model but on C24 asking price is >70k for 5140Ps with a full set.


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[LitzDoc]

Originally Posted by MrBenF

Hi, I’d like to get some advice on a used 5140P.

My local dealer has one that’s recently come in. It’s the platinum model with a blue face. The watch (sold 5/2012) is in (almost) lnib condition although:
- no sapphire back, only solid
- no papers, only extract from archives
- no box
- no accessories

Normally, I’d only be interested if it comes complete with papers and all accessories. But in this case, the asking price already takes all that into account and is attractive (USD44k).

Does anyone know if it’s possible to purchase a replacement sapphire back?

At that price, is it worth doing?

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Patek will not issue a new sapphire back.
Since the watch is greater than five years old you can get an archive certificate from Patek for CHFr.150
If you can get the watch closer to or below $40,000 I would do it.
Is the dealer reputable? Will he give you any aftermarket warranty? Where ddid he acquire the watch?



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[jon_jon]

$44k USD seems like a fabulous price if you are buying the watch to wear and not for investment or resale. This is less than 3940P!

You won't be able to get a replacement sapphire caseback. The watch normally comes with a winder case, which is a bit larger than regular Patek watch boxes.

[benzng]

haggle to $40k. i think thats a good price for a perp and a platinum at that

[psv]

Lovely piece, but you better be in love with it for life, because selling it as a private party without the goodies (you know how PP owners are...) will be very tough. At $40K, you get a grand complication platinum Patek at an attractive price, but it better be a keeper.

[MrBenF]

Originally Posted by LitzDoc

Patek will not issue a new sapphire back.
Since the watch is greater than five years old you can get an archive certificate from Patek for CHFr.150
If you can get the watch closer to or below $40,000 I would do it.
Is the dealer reputable? Will he give you any aftermarket warranty? Where ddid he acquire the watch?

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It comes with an extract (sales dated 5.2012) but no other paperwork.

The dealer is reputable and they offer a 12 months warranty. In terms of provenance, it’s explained that ‘a client of theirs purchased the watch in Japan as is (with the missing bits). This client is a collector of many Pateks.’ Given it’s watch only and missing all the goodies, it does bring up the obvious questions.



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[MrBenF]

Originally Posted by jon_jon

$44k USD seems like a fabulous price if you are buying the watch to wear and not for investment or resale. This is less than 3940P!

You won't be able to get a replacement sapphire caseback. The watch normally comes with a winder case, which is a bit larger than regular Patek watch boxes.

Of all the missing bits, the ones that hold the most value:
1. COG
2. Spare back. In this case the sapphire one

I’ve the Patek winder cases. They pop up from time-time on C24 and eBay so can always get one.

About a replacement sapphire back, the dealer will make some enquires so I’ll see what he comes back with.

For the sapphire back, does anyone know if they’re inscribed with a serial number to match the case? For example, there’s a 3940G sapphire back on eBay:
https://www.ebay.com.au/itm/Patek-Ph...97.m4902.l9144



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[subtona]

Originally Posted by MrBenF

I’m not familiar with the market price for this model but on C24 asking price is >70k for 5140Ps with a full set.


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My rule of thumb for C24 is they generally advertise 20% higher than available through direct sources, this would put a full set around 54K

Minus another 20% to 30% for no box & papers etc
Ballpark 44K on the high end and 38K on the low end.

Hitting a mark of 40K would be a fair deal.

If you found yourself losing interest and traded into something else, you could make it work.

[subtona]

Originally Posted by MrBenF

Of all the missing bits, the ones that hold the most value:
1. COG
2. Spare back. In this case the sapphire one

I’ve the Patek winder cases. They pop up from time-time on C24 and eBay so can always get one.

About a replacement sapphire back, the dealer will make some enquires so I’ll see what he comes back with.

For the sapphire back, does anyone know if they’re inscribed with a serial number to match the case? For example, there’s a 3940G sapphire back on eBay:
https://www.ebay.com.au/itm/Patek-Ph...97.m4902.l9144



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There are no serial numbers on the casebacks of my 5940.

[subtona]

Originally Posted by jon_jon

...The watch normally comes with a winder case, which is a bit larger than regular Patek watch boxes.

Not sure if the 5140 was offered this way but have seen the 5940 offered with on option of regular case and pin buckle vs. winder case and deployant.

Side note, was recently in Patek service and they told me they were switching to a different type of winder case.

[MrBenF]

Originally Posted by subtona

There are no serial numbers on the casebacks of my 5940.

The inscriptions is on the inside. Can you pls take another look? Thanks.

Originally Posted by subtona

Not sure if the 5140 was offered this way but have seen the 5940 offered with on option of regular case and pin buckle vs. winder case and deployant.



Side note, was recently in Patek service and they told me they were switching to a different type of winder case.

The watch comes with a deployant and I guess the winder box.

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[thomaspp]

Originally Posted by subtona

too much and i wouldn't considering all the issues.

That. Wise man


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[gmstevenson]

Having previously owned an incomplete set of a high end Patek I would advise against it. Even if you think it is a keeper now and that you are getting a good deal, I suspect it will end up bothering you at some point that you have an incomplete set. And it will be very difficult to move if you decide at some point that it isn't for you.

[nyc2la]

I used to own the 5140p. While it’s a great daily, I wouldn’t buy the watch with all that is missing in this instance.

I wouldn’t rule out a 3940p if you can find one in minty condition. That would be my preference as I think the dial is cleaner.

Here are some pics of my now gone 5140p.

[Codik]

What a stunning watch!

But I would never buy a “naked” watch. I’d worry it was stolen and to have created a demand for stolen Pateks.

[subtona]

Originally Posted by subtona

There are no serial numbers on the casebacks of my 5940.

Originally Posted by MrBenF

The inscriptions is on the inside. Can you pls take another look? Thanks

Just checked, I stand corrected Yes indeed the Saphire case back has an inscription on it. I currently have the metal caseback in the watch.
Markings included are serial number, model number “Patek Philippe geneve” and hallmarks including “750”

Awful pic compounded with low res but it’s there.

[da2880]

Avoid it like a plague my friend, I know exactly the watch in question and know the owner(not personally)who consigned it to VWC also. Too many red flags!


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[MrBenF]

Originally Posted by subtona

Just checked, I stand corrected Yes indeed the Saphire case back has an inscription on it. I currently have the metal caseback in the watch.
Markings included are serial number, model number “Patek Philippe geneve” and hallmarks including “750”

Awful pic compounded with low res but it’s there.

Thanks Gus!


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[MrBenF]

Originally Posted by nyc2la

I used to own the 5140p. While it’s a great daily, I wouldn’t buy the watch with all that is missing in this instance.

I wouldn’t rule out a 3940p if you can find one in minty condition. That would be my preference as I think the dial is cleaner.

Here are some pics of my now gone 5140p.

Hi Stephen, I thought you still have the 5140P...didn’t realise you’ve traded it.

WRT the 3940, I do prefer that over the 5140 because of the dial layouts.

But there’s one reservation I have. Buying a watch of that age (3940 was discontinued in 2006), most of the examples I have seen do not have service history. And given the cost and turn-around time for servicing I don’t want any nasty surprises.

I say that in the context that there’s a 3940 currently for sale. I’d seriously consider it but I’m aware that it’s had some issues with the movement and been sent back to Geneva for servicing *2 in the last 2-3 years. This episode has made me reconsider the 3940.

Does anyone have tips about what to look for when buying a used watch (complications, >= 10 years old)?


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