5811 flipper auction..

[Partekular]

https://www.watchcollecting.com/for-...-nautilus-5811

£118.000 plus 6% fee plus VAT in UK

[HMHM]

Hopefully its PP themselves that bought it to trace the flipper. After all that's what TS said they are doing.

[Partekular]

Originally Posted by HMHM

Hopefully its PP themselves that bought it to trace the flipper. After all that's what TS said they are doing.

Let’s hope so!

[theHat]

Originally Posted by HMHM

Hopefully its PP themselves that bought it to trace the flipper. After all that's what TS said they are doing.

As the AD is visible on the certificate and they are unlikely to have received more than 1 of the 5811, I'm sure Patek knows exactly who has flipped this.

[raclaims]

Not that great of a result for a brand new piece highly in demand

[HMHM]

Originally Posted by raclaims

Not that great of a result for a brand new piece highly in demand

Indeed! I went to the website and other watches were doing below expectation as well!

[Partekular]

Market prices can be found here…

https://watchcharts.com/watches/search?q=PATEK%205172g

https://www.hodinkee.com/articles/hype-watch-2022

The auction company is not a huge multi national so perhaps it might get flipped again by the buyer if it reaches a larger audience?

[watchgeezer]

i'm surprised that the reserve was set low enough to let that go at that price

[LJubel328]

There is another that was listed earlier today that’s not too far off from the auction result. Generally, pieces move quickly in Moda if priced right but it’s appears to be sitting.


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[rolehex]

Originally Posted by HMHM

Hopefully its PP themselves that bought it to trace the flipper. After all that's what TS said they are doing.

Interesting. That may deter the habitual flipper.

[Russell996]

Originally Posted by Partekular

https://www.watchcollecting.com/for-...-nautilus-5811

£118.000 plus 6% fee plus VAT in UK

Originally Posted by HMHM

Hopefully its PP themselves that bought it to trace the flipper. After all that's what TS said they are doing.

There is no need, the advert doxed the AD.

The image is now changed but the original advert showed a reflection in the box of the dealer name on the papers and they are now expecting/having a lengthy discussion with Patek. It was brought to my attention by a Patek AD (not the seller of the 5811) who showed me the image so the details are definitely known by the powers that be at Patek.

[Apheaven]

Auctioning a new Patek is possibly the quickest path to terminating one’s relationship with their AD. There are so many other paths one could take if such a disposition is required.


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[newonos]

AD could well have sold it to a regular, who already full with his favorite references, decided to flip this to cover previous spends. I recall in Stern's interview on flippers, PP would want a convo w the AD to find out what happened. I would expect that here, but not necessarily a relationship termination unless there are exacerbating circumstances.

[7sins]

Doesn't make any sense to me, why risk being black listed for a small profit. Have to imagine someone who can afford this watch, ~$50k is a drop in the bucket for them

[Rickkk]

AD relationship won't get terminated unless they were reckless as the AD was when they sold a green Patek and didn't even open it from the transport box. I bet this is just someone that let their AD down

[Rickkk]

Originally Posted by hmhm

hopefully its pp themselves that bought it to trace the flipper. After all that's what ts said they are doing.

ts?

[Chiboy]

Originally Posted by Rickkk

ts?

Thierry Stern, Patek President and Grand Poobah.

[JC180]

I feel sorry for the AD if they sold it to a regular in good faith, its not just Patek that know, its the entire dealer list and many in the watch game that will no doubt be discussing this amongst themselves. Highly embarrassing and damaging to their reputation.

If on the other hand it was something other than a case of misplaced faith in a customer, I should imagine they will be in some seriously hot water with PP and well deserved at that.

[raclaims]

I mean there’s a blue 5990 for sale too
I guess the new releases maybe aren’t coveted as long term holds who knows

[Rickkk]

Originally Posted by Chiboy

Thierry Stern, Patek President and Grand Poobah.

Dunno how I missed that

[PT_91]

Originally Posted by raclaims

I mean there’s a blue 5990 for sale too
I guess the new releases maybe aren’t coveted as long term holds who knows

That also made me scratch my head..

[Calatrava r]

At the end of the day, this sale allowed someone to own this watch at a somewhat reasonable price who probably had zero chance of obtaining the watch new from an AD at any price. Great day for the buyer. Hopefully, we get an incoming.

[newonos]

Originally Posted by JC180

I feel sorry for the AD if they sold it to a regular in good faith, its not just Patek that know, its the entire dealer list and many in the watch game that will no doubt be discussing this amongst themselves. Highly embarrassing and damaging to their reputation.

If on the other hand it was something other than a case of misplaced faith in a customer, I should imagine they will be in some seriously hot water with PP and well deserved at that.

Huh. Maybe this explains why some ADs are, as perceived by littles, a bit standoffish, or not just ready to hand over merchandise for cash, and instead prefer to get to know their client. Don't blame them. [probs will get flamed for this comment by some. So be it.]

[newonos]

Originally Posted by Calatrava r

At the end of the day, this sale allowed someone to own this watch at a somewhat reasonable price who probably had zero chance of obtaining the watch new from an AD at any price. Great day for the buyer. Hopefully, we get an incoming.

Pretty sure this guy--whoever he (or she) is--won't be getting any application pieces!

[raclaims]

Just saw another 5811 go for sale at a grey

Maybe they delivered a lot more than we realize

[samuel019]

I’ve seen every new PP release list on Moda.

Even the Rainbow Aquanaut.

[samuel019]

Also seen a 5905R list on Moda dated the exact same timeframe I inquired with an A D that’s 15 minutes down the road with there store on the papers.

I screenshot it and sent it to the S A I was working with and I said “damn ____ I would’ve had at least kept it. He said yeah we have already spoke to that customer and he’s been “dealt with”

Do I believe him? Not really.

Certificate was dated within the same month/2 months I inquired. Was told we have no PP models in and boom I see the exact watch I asked about being listed on freaking Moda. WTF..

[Partekular]

Originally Posted by Russell996

There is no need, the advert doxed the AD.

The image is now changed but the original advert showed a reflection in the box of the dealer name on the papers and they are now expecting/having a lengthy discussion with Patek. It was brought to my attention by a Patek AD (not the seller of the 5811) who showed me the image so the details are definitely known by the powers that be at Patek.

Any chance you might provide an AD location or as near as…? London West, East, Central, South or North?

[Russell996]

Originally Posted by Partekular

Any chance you might provide an AD location or as near as…? London West, East, Central, South or North?

It's not a secret, the auction doxed the dealer. I feel for the AD in this situation.

[77T]

We shouldn’t disregard a sales associate working in league with the original buyer for a quick gain. I can’t presume to judge the factors that led to the watch’s ultimate destination in an open auction.

I revere the brand, and their efforts at protecting it from flipping, but owners do have a right to sell their possessions as well.

It’s a difficult balance to strike.


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