5270P picture thread

[Russell996]

Originally Posted by Kittayos

If you walk into many ADs in Asia and Ocenia, I'm certain a load of them are willing to provide you 5370p. Regardless of its difficulty to obtain, the market itself for this piece is very soft. It is no longer an application piece. If it is claimed as an application piece, no way for a first time buyer (even a 2nd or 3rd) to get an approval to purchase it. You have to be a long term customer which normally takes years to build. So the term application piece is somewhat misinterpreted in a way.

Not true, application pieces can be purchased by first time Patek buyers. The process is application and approval not an absolute requirement to have a 'history of Patek pieces'. History of course helps but there are many wonderful brands and Patek well understand watch passion.

[Chiboy]

Originally Posted by Russell996

Not true, application pieces can be purchased by first time Patek buyers. The process is application and approval not an absolute requirement to have a 'history of Patek pieces'. History of course helps but there are many wonderful brands and Patek well understand watch passion.

I'm wondering if "application piece" really boils down to "We would like to control who buys this. Unless we don't have a waitlist, in which case if your check will clear, you're in."

[nyc2la]

I love that some of the watches being discussed are polarizing. Many of today’s darlings were once ridiculed, available at ADs, or sat for a long time.

Remember, none of us know the future, so those that claim with certainty the fate of a watch are just blowhards. Opinions are welcome and great, but opining that you know is just silly.

Buy what you love. Of course, it obviously helps to buy it right. No one wants to overpay. There are ways to reduce your cost basis. Discounts, favorable tax savings, access to desirable pieces, etc.


And now, back to our regularly scheduled program.

[Russell996]

Originally Posted by nyc2la

I love that some of the watches being discussed are polarizing. Many of today’s darlings were once ridiculed, available at ADs, or sat for a long time.

Remember, none of us know the future, so those that claim with certainty the fate of a watch are just blowhards. Opinions are welcome and great, but opining that you know is just silly.

Buy what you love. Of course, it obviously helps to buy it right. No one wants to overpay. There are ways to reduce your cost basis. Discounts, favorable tax savings, access to desirable pieces, etc.


And now, back to our regularly scheduled program.

Todays scheduled program is a beauty.

[Chiboy]

I am trying to get a handle on how much of TRF buy watches due to love for and appreciation of watches versus buying for collectibility reasons. I understand that when purchasing a watch that costs as much as a Berkshire Hathaway A share, cost and future value is a consideration. But I hate to think on an enthusiast forum that investment potential is too much of a driver.

[zahain]

Originally Posted by Chiboy

I am trying to get a handle on how much of TRF buy watches due to love for and appreciation of watches versus buying for collectibility reasons. I understand that when purchasing a watch that costs as much as a Berkshire Hathaway A share, cost and future value is a consideration. But I hate to think on an enthusiast forum that investment potential is too much of a driver.

Its not so much investment potential at this price point but everyone likes to know whatever they purchased at (retail) is what they get out if they ever wanted to sell. Id say very few expect it to make profit being modern and not a vintage reference. People also like to know when its a grand complication, Patek should stick to small/limited production which hasn’t been the case as of recent times with production numbers being unclear and once application pieces becoming a regular order for an AD.


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[Chiboy]

Originally Posted by zahain

Its not so much investment potential at this price point but everyone likes to know whatever they purchased at (retail) is what they get out if they ever wanted to sell. Id say very few expect it to make profit being modern and not a vintage reference. People also like to know when its a grand complication, Patek should stick to small/limited production which hasn’t been the case as of recent times with production numbers being unclear and once application pieces becoming a regular order for an AD.

I see. FWIW, my comments were not intended for you or anyone else in particular. I guess there's just more of a "limited edition" guessing aspect to high end PP purchases than I realized.

I see more of these discussions on the Rolex section where people debate endlessly the collectibility of a BLNR that may or may not be discontinued or changed and which there are 50k or 100k in existence (I have no idea really).

[jcoltrane]

Originally Posted by zahain

Its not so much investment potential at this price point but everyone likes to know whatever they purchased at (retail) is what they get out if they ever wanted to sell. Id say very few expect it to make profit being modern and not a vintage reference. People also like to know when its a grand complication, Patek should stick to small/limited production which hasn’t been the case as of recent times with production numbers being unclear and once application pieces becoming a regular order for an AD.

This is the correct answer. People on TRF by-in-large aren't flippers, just enthusiasts that also don't want to get their ass handed to them on resale if they ever decide to sell a watch.

This issue with Patek grand comps will continue until many of the TS pieces are proven to hold their value longer-term. Right now it's a self-fulfilling prophecy:

1. Low confidence in TS
2. Supply outweighs demand
3. Grey prices below retail
4. Back to step 1

Russell996 is correct, though, most of the stuff on Chrono24 isn't real. There aren't really a few dozen brand-new 5370P for sale. There are absolutely deals to be had, but most of the sellers will take your money and *then* locate a piece for you.

There will always be people that money doesn't matter, but there's clearly another layer of folks that would buy grand comps if they kept most of their value. My assumption is none of the former visit TRF and likely all of the latter do, that's why these conversations come up regularly

[jumpmandk]

+1 [B]Russell996 is correct, though, most of the stuff on Chrono24 isn't real. There aren't really a few dozen brand-new 5370P for sale. There are absolutely deals to be had, but most of the sellers will take your money and *then* locate a piece for you.

Originally Posted by jcoltrane

This is the correct answer. People on TRF by-in-large aren't flippers, just enthusiasts that also don't want to get their ass handed to them on resale if they ever decide to sell a watch.

This issue with Patek grand comps will continue until many of the TS pieces are proven to hold their value longer-term. Right now it's a self-fulfilling prophecy:

1. Low confidence in TS
2. Supply outweighs demand
3. Grey prices below retail
4. Back to step 1

Russell996 is correct, though, most of the stuff on Chrono24 isn't real. There aren't really a few dozen brand-new 5370P for sale. There are absolutely deals to be had, but most of the sellers will take your money and *then* locate a piece for you.

There will always be people that money doesn't matter, but there's clearly another layer of folks that would buy grand comps if they kept most of their value. My assumption is none of the former visit TRF and likely all of the latter do, that's why these conversations come up regularly

[jumpmandk]

I love this piece, I keep coming back for the photos

[raclaims]

Russell you are going to love the 5370P...I wear mine nearly every single day since I got it and all the rest of my watches collect dust.

It's an amazing piece and everything you'd hope it would be and more.

I did an application but I did get mine fairly quickly.

I'd be happy selling all of my other pateks, etc, and just have one sports watch and the 5370p...yes I like it that much.

[nyc2la]

Originally Posted by raclaims

Russell you are going to love the 5370P...I wear mine nearly every single day since I got it and all the rest of my watches collect dust.

It's an amazing piece and everything you'd hope it would be and more.

I did an application but I did get mine fairly quickly.

I'd be happy selling all of my other pateks, etc, and just have one sports watch and the 5370p...yes I like it that much.

While I'm not trying to compare the 5270p and the 5370p, I've already considered further reduction to get to my PCC and one Rolex sports watch. I'm not ready for that drastic of a move, but I have similar affection for my 5270p, which has been my daily since its arrival, and I have limited interest in any other Pateks at this time. Enjoy yours!

[tng11]

Originally Posted by zahain

It is interesting to know how allocations for the grand complications are. I know for a fact my AD has had 3-4 5370p’s. I cant confirm if the one i am interested in purchasing is the 3rd or this is the 4th one he’s received. When I asked him (i deal with the owner) he says he orders directly and doesn’t need to apply for a customer. I will confirm later how many total he has actually gotten but i know at the very least 3. It makes me wonder if there has been over 100 produced as its confusing on production quantity and how many are currently sitting at AD’s.


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I have seen them on display, for sale at an AD in Seoul and Sydney. They also had the 5204P and 5204/1R. I think whether it is an application piece or not depends on the market.

[Ichiran]

Chill. I would not let others' perception of production volume, market demand, investment potential and secondary price dilute the love for my watch.

There are not too many things in life superior to wearing that salmon 5270p on your wrist...

[thomaspp]

Originally Posted by tng11

I have seen them on display, for sale at an AD in Seoul and Sydney. They also had the 5204P and 5204/1R. I think whether it is an application piece or not depends on the market.

literally "on display"? a 5204p and 5270P?

[tom2517]

Originally Posted by Russell996

Not true, application pieces can be purchased by first time Patek buyers. The process is application and approval not an absolute requirement to have a 'history of Patek pieces'. History of course helps but there are many wonderful brands and Patek well understand watch passion.

Yeah I second that, application pieces can be purchased by first time buyers.

[nyc2la]

Originally Posted by Ichiran

Chill. I would not let others' perception of production volume, market demand, investment potential and secondary price dilute the love for my watch.

There are not too many things in life superior to wearing that salmon 5270p on your wrist...

Unphased, my friend. As mentioned, this is an end-game piece for me that will be worn and enjoyed, and then passed on to my little big-guy when the time is right. He'll have many memories of this watch on my wrist, and hopefully that makes it even more special for him.

[tng11]

Originally Posted by thomaspp

literally "on display"? a 5204p and 5270P?

Correct.



And a celestial:



The 5370P was in an inside display case.

[tng11]

Sorry to detract from the thread, but that 5270P is stunning Steve. Wear it in good health. I had the chance to check it out in Geneva back in May and thought it was incredible, especially how the dial is a chameleon and changes hue and tone with different lighting.

[KBM]

Apologies if this has been discussed in the thread earlier, but in you opinion, what would the chances be of a black dialed 5270p come next Basel?

[Ichiran]

Originally Posted by nyc2la

Unphased, my friend. As mentioned, this is an end-game piece for me that will be worn and enjoyed, and then passed on to my little big-guy when the time is right. He'll have many memories of this watch on my wrist, and hopefully that makes it even more special for him.

Lucky boy!

[zahain]

Originally Posted by kauebm

Apologies if this has been discussed in the thread earlier, but in you opinion, what would the chances be of a black dialed 5270p come next Basel?

Unlikely but there is always a chance a top VIP customer special orders one in a black dial.

[Peterwurks]

Joke was that i was offered by my AD a piece (5270P) but i rejected it,two days later i called back to enquire if it is still possible to obtain it and it is gone.
Biggest mistake ever

[antelope]

Stunning!!

[nyc2la]

Happy Friday and HAGWE!

[Russell996]

Originally Posted by nyc2la

Happy Friday and HAGWE!

[Dlindsay]

It has been only a couple of months since the 5270P has hit the market and it has already been listed below retail by greys. Very good deals will be available in the next couple of years.

[Russell996]

Originally Posted by Dlindsay

It has been only a couple of months since the 5270P has hit the market and it has already been listed below retail by greys. Very good deals will be available in the next couple of years.

I have to disagree - I simply don’t buy into the argument that past PP pieces of similar style performed differently when new. The piece is selling on the grey market for just below retail, however it is a current piece and the grey price is much higher than many will pay new with VAT rebates. This is a piece that retails at £140k + so the market is always going to be limited compared to much lower priced pieces and will always command strong residuals especially when it is discontinued.
I have a constant mental battle with myself that I turned mine down but it simply didn’t suit me - still love it and congrats to all those who have one or are expecting one.

[nyc2la]

Originally Posted by Russell996

I have to disagree - I simply don’t buy into the argument that past PP pieces of similar style performed differently when new. The piece is selling on the grey market for just below retail, however it is a current piece and the grey price is much higher than many will pay new with VAT rebates. This is a piece that retails at £140k + so the market is always going to be limited compared to much lower priced pieces and will always command strong residuals especially when it is discontinued.

I have a constant mental battle with myself that I turned mine down but it simply didn’t suit me - still love it and congrats to all those who have one or are expecting one.

^^ Wise words.

[nyc2la]

Such a warm feel to this watch.