Re 5811 availability in Singapore

[321Forever]

I was at Hour Glass at Raffles today. I was told that eligibility for Nautilus and Aquanaut is only after first purchase of a grand complication. I asked how many are there in Singapore who have done that. I was told, “many!”

I asked about the 5811. I was told so far the store has received two. They offer those to potential buyers based on their purchase history. All Patek sales are reviewed at a higher level before being permitted, and it was suggested that it was done at Patek not Hour Glass.

[HMHM]

I would believe that SG has a lot of buyers of Grand complication. The place is really the most competitive place in the world to get a watch. That being said, the approval for a Nautilus/Aquanaut is done by THG themselves, not by Patek. Either the SA is not trained with that information or that’s just blatant BS to deflect the responsibility.

[321Forever]

Originally Posted by HMHM

I would believe that SG has a lot of buyers of Grand complication. The place is really the most competitive place in the world to get a watch. That being said, the approval for a Nautilus/Aquanaut is done by THG themselves, not by Patek. Either the SA is not trained with that information or that’s just blatant BS to deflect the responsibility.

I didn’t ask a direct question so I don’t think she was being evasive.

[GB-man]

Ask Michael he gets all the good stuff there lol

[taxidriver]

Its a company policy now to first check your purchased history record. Sadly for those trying to purchase one will be an great ordeal. Buying a patek now at AD is 10x more harder. So they have to change their slogan from "You never actually own a Patek Philippe. You merely look after it for the next generation. To “You will never actually own a Patek Philippe. You merely reserve for it for the next generation. Lol for now you can only try it and feel it on your wrist.


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[321Forever]

Lol. “You never own a Patek.” Full stop.

My wife’s cousins who are local expressed interest in a Rolex while I was there. They needed to show not just local details but proof of employment. Either a business card or an email with letterhead. I figure this is to confirm local residency and not foreign wealthy who own a Singapore home but work elsewhere?

[Ichiran]

I think it is not important what the AD told us, but more importantly what they can deliver for us.

[crispyness87]

in Singapore, you probably have to buy a bunch of watches from lesser brands before the AD considers you for a Patek grand complication.

[ButtButt]

Originally Posted by jakemeister

Lol. “You never own a Patek.” Full stop.

My wife’s cousins who are local expressed interest in a Rolex while I was there. They needed to show not just local details but proof of employment. Either a business card or an email with letterhead. I figure this is to confirm local residency and not foreign wealthy who own a Singapore home but work elsewhere?

This seems excessive, I’ve never been asked that. At most they casually ask me what I do or if I have a business card.

[jhua94]

I was told to buy a SGD 120,000 Hublot before I can get a CONSIDERATION for a Patek in Singapore.

[321Forever]

I shared this because I find it all very interesting and reflects the dynamics we are now in. When I was there in 2014, you could find steel PP and there were no restrictions to local markets or prior purchase history levels like today.

[patlex]

Originally Posted by jhua94

I was told to buy a SGD 120,000 Hublot before I can get a CONSIDERATION for a Patek in Singapore.

Crazy! I gather that even you pay that 120k, it’s not a guarantee? And worse, they may just “dump” any Patek to you, and not your choice, assuming you are not eyeing for a sports model. What a world we are in now!

[Chiboy]

It's hard to read threads like this and maintain enthusiasm for Patek.

[321Forever]

Originally Posted by Chiboy

It's hard to read threads like this and maintain enthusiasm for Patek.

Sorry. Not my intention in doing that. It’s just how it is right now in one place in the world.

[Chiboy]

Originally Posted by jakemeister

Sorry. Not my intention in doing that. It’s just how it is right now in one place in the world.

Oh, it didn't bother me. Same as it's been for the last number of years. I'm not even sure why I commented on this thread. I like some Pateks but don't feel like my life will be lacking without one. I do hope one day these Patek ADs have the table turned on them. Must be fun to have a business where you sell a $100k thing as soon as you get it by simply making a call and letting the customer know you chose them to buy it! lol

[Vetracer]

I expect once demand for luxury watches subsides, registration of interest will be focused on real enthusiasts. That’s the beauty of market forces, they’re cyclical.

[AperolSpritz]

Yet grey market prices are crashing like a stone and with all the price increases over the last 2 years, they could meet pretty soon.

The mood music in the patek boutiques I visit is changing. But it's not Singapore.

[Calatrava r]

Originally Posted by Vetracer

I expect once demand for luxury watches subsides, registration of interest will be focused on real enthusiasts. That’s the beauty of market forces, they’re cyclical.

Hopefully will happen very soon. Patek is crazy tough to get new right now. To have to buy a Grand Complication to be considered for 5811 is disappointing.