The Rolex Forums   The Rolex Watch

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Old 15 May 2018, 11:19 AM   #1
watchfan0529
"TRF" Member
 
Join Date: Mar 2018
Location: Geneva
Posts: 132
Who's buying the 5711/1a at $50k?

Hi folks,

Out of curiosity..anybody here actually paying the premium for the 5711 at +$50k? I've always been curious what type of people are buying at the upper limit..are there WIS buying at this level or these are just people riding the speculation?

Thanks for your views in advance.
watchfan0529 is offline   Reply With Quote
Old 15 May 2018, 03:40 PM   #2
tyler1980
"TRF" Member
 
tyler1980's Avatar
 
Join Date: Apr 2015
Location: Houston
Posts: 17,622
i don't think a lot of people would be admitting it if they did, but I think its a lot of people who just got tired of waiting or who don't want to get on a list now.

pay 20k and save 5 years of wait isn't the worst value proposition if you really want the watch... people pay more to skip the lines at disneyland too. Same thing.
__________________
Instagram: tyler.watches
current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition)
tyler1980 is offline   Reply With Quote
Old 15 May 2018, 05:11 PM   #3
sensui
2024 Pledge Member
 
sensui's Avatar
 
Join Date: Jan 2016
Location: San Diego, CA
Posts: 12,344
I highly doubt people buying at these premiums are speculating. They just don't want to wait and have the money...most of which I highly doubt are really collectors/wis.
sensui is offline   Reply With Quote
Old 15 May 2018, 06:08 PM   #4
tyler1980
"TRF" Member
 
tyler1980's Avatar
 
Join Date: Apr 2015
Location: Houston
Posts: 17,622
Quote:
Originally Posted by sensui View Post
I highly doubt people buying at these premiums are speculating. They just don't want to wait and have the money...most of which I highly doubt are really collectors/wis.
i agree to an extent. I know of a few WIS who have done just that though. They are more small time collectors. Big time collector WIS dont need to as their collection ensures they get these watches at retail. So as far as WIS not doing this, i just think its more a matter of collection scale more than anything, not that a serious watch enthusiast would automatically not buy at a huge premium.
__________________
Instagram: tyler.watches
current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition)
tyler1980 is offline   Reply With Quote
Old 15 May 2018, 06:11 PM   #5
Ichiran
2024 Pledge Member
 
Ichiran's Avatar
 
Join Date: Jan 2018
Real Name: Michael
Location: Dotonbori
Watch: Mostly blue dials
Posts: 7,516
Quote:
Originally Posted by tyler1980 View Post
i don't think a lot of people would be admitting it if they did, but I think its a lot of people who just got tired of waiting or who don't want to get on a list now.

pay 20k and save 5 years of wait isn't the worst value proposition if you really want the watch... people pay more to skip the lines at disneyland too. Same thing.
I know of some people who are happy to wait 2-5 years for the 5711, but many do not have a relationship with an AD and the wait might be infinite

That's how the 50+ value comes about.
Ichiran is online now   Reply With Quote
Old 15 May 2018, 06:17 PM   #6
tyler1980
"TRF" Member
 
tyler1980's Avatar
 
Join Date: Apr 2015
Location: Houston
Posts: 17,622
Quote:
Originally Posted by Ichiran View Post
I know of some people who are happy to wait 2-5 years for the 5711, but many do not have a relationship with an AD and the wait might be infinite

That's how the 50+ value comes about.
exactly. A definite wait time is easier to justify waiting. Waiting for a call that may never come changes the strategy.

I remember here last year that people were laughing at 37k 5711's. Now that is pretty much where the retail price is. So its a gamble to wait, just the same as its a gamble to buy at inflated prices.
__________________
Instagram: tyler.watches
current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition)
tyler1980 is offline   Reply With Quote
Old 15 May 2018, 06:29 PM   #7
bbturbo
"TRF" Member
 
Join Date: Dec 2014
Location: Asia
Posts: 53
Quote:
Originally Posted by Ichiran View Post
I know of some people who are happy to wait 2-5 years for the 5711, but many do not have a relationship with an AD and the wait might be infinite

That's how the 50+ value comes about.
From where I come from, they don't even put your name on the list if you want to.... I've asked and reply is; we get maybe 2 and if lucky 3 a year from Geneva. The waiting list is now 15 or more. Pointless to take in more because it will be 6-8 years just to fulfill/clear current list.

In short, impossible to buy retail here unless you are the creme de la creme customer.
bbturbo is offline   Reply With Quote
Old 15 May 2018, 09:39 PM   #8
JR16
2024 Pledge Member
 
Join Date: Jan 2013
Location: USA
Posts: 6,174
I think in general most won’t pay $50k but it only takes a few to keep price offerings at that level , and money is all relative . Personally I wouldn’t pay 60% over retail , but I have a decent-sized collection and am on a list w my AD so I can stomach the wait even though I know it will likely be a few years as my AD only gets 2-3/ year (it’s been a year so far). But for someone who really wants the 5711 and values it the same as other $50k watches he/she sees around and has an income 10x mine, I see no reason why they wouldn’t spend the $50k.


Sent from my iPhone using Tapatalk Pro
JR16 is offline   Reply With Quote
Old 15 May 2018, 10:20 PM   #9
turborolex
"TRF" Member
 
turborolex's Avatar
 
Join Date: Sep 2013
Real Name: H.
Location: USA
Posts: 564
What about the rappers that bling them out, are they on a list, or do their “people” just buy grey?


Sent from my iPhone using Tapatalk
__________________
current collection: Patek 5712, Patek 5726 (white), Patek 5990, Patek 5524G, Rolex 116500 (white & black), AP 26331ST (Blue).
turborolex is offline   Reply With Quote
Old 15 May 2018, 11:10 PM   #10
Timelover
Banned
 
Join Date: May 2018
Location: .
Posts: 86
Quote:
Originally Posted by turborolex View Post
What about the rappers that bling them out, are they on a list, or do their “people” just buy grey?


Sent from my iPhone using Tapatalk
They are obviously privileged customers for Patek - money talks
Timelover is offline   Reply With Quote
Old 15 May 2018, 11:25 PM   #11
tyler1980
"TRF" Member
 
tyler1980's Avatar
 
Join Date: Apr 2015
Location: Houston
Posts: 17,622
Quote:
Originally Posted by turborolex View Post
What about the rappers that bling them out, are they on a list, or do their “people” just buy grey?


Sent from my iPhone using Tapatalk
they are probably leased. Like the lambos, bentleys, and the mansions. In general most celebrities who are in the image game, not just rappers lease most of the stuff. I would be willing to bet there are high end jewelers who do just that.
__________________
Instagram: tyler.watches
current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition)
tyler1980 is offline   Reply With Quote
Old 16 May 2018, 01:20 AM   #12
AK797
2024 Pledge Member
 
AK797's Avatar
 
Join Date: Feb 2010
Real Name: Neil
Location: UK
Watch: ing ships roll in
Posts: 59,066
Quote:
Originally Posted by tyler1980 View Post
i don't think a lot of people would be admitting it if they did, but I think its a lot of people who just got tired of waiting or who don't want to get on a list now.

pay 20k and save 5 years of wait isn't the worst value proposition if you really want the watch... people pay more to skip the lines at disneyland too. Same thing.
Before I would never have thought of paying more to avoid queues such as at Theme Parks etc, but nowadays I probably would, I just hate wasting time, and with watches I don't mind waiting as long as there is an end date, but not in perpetuity.
AK797 is offline   Reply With Quote
Old 16 May 2018, 01:42 AM   #13
GB-man
2024 Pledge Member
 
GB-man's Avatar
 
Join Date: Nov 2012
Location: USA
Watch: addiction issues
Posts: 36,815
People with money to burn.
__________________
GB-man is offline   Reply With Quote
Old 16 May 2018, 01:57 AM   #14
Swearengen
"TRF" Member
 
Swearengen's Avatar
 
Join Date: Aug 2010
Real Name: Gabriel
Location: London, UK
Posts: 1,808
I think I can beat $50k

https://www.watchcentre.com/product/...1-1a-010/16594

Just a tad over $57k of your American Dollars
__________________

1680 1675 16800 16570 16710 17000 16613 17013

Gone but not forgotten 16610LV 1016
16234
Swearengen is online now   Reply With Quote
Old 16 May 2018, 02:05 AM   #15
Sam Philip
Banned
 
Join Date: Apr 2012
Location: UK
Posts: 4,345
Quote:
Originally Posted by Swearengen View Post
I think I can beat $50k

https://www.watchcentre.com/product/...1-1a-010/16594

Just a tad over $57k of your American Dollars
It has been there for a while, obviously not moving at that price.
Sam Philip is offline   Reply With Quote
Old 16 May 2018, 02:54 AM   #16
Greenp
"TRF" Member
 
Join Date: Feb 2012
Location: USA
Posts: 223
Went to Disneyland, Fastpass costs $10/person/day ($40 for my family). Worth it to me. It basically allowed me to squeeze in 3 extra rides per day.
Maybe for a rich person, $50k is like that $40 to me.

Quote:
Originally Posted by AK797 View Post
Before I would never have thought of paying more to avoid queues such as at Theme Parks etc, but nowadays I probably would, I just hate wasting time, and with watches I don't mind waiting as long as there is an end date, but not in perpetuity.
Greenp is offline   Reply With Quote
Old 16 May 2018, 03:02 AM   #17
tyler1980
"TRF" Member
 
tyler1980's Avatar
 
Join Date: Apr 2015
Location: Houston
Posts: 17,622
Quote:
Originally Posted by Greenp View Post
Went to Disneyland, Fastpass costs $10/person/day ($40 for my family). Worth it to me. It basically allowed me to squeeze in 3 extra rides per day.
Maybe for a rich person, $50k is like that $40 to me.
20k (which is the roughly premium) over a hypothetical 5 year wait is 4k per year... and over the past 2 years the prices have grown way over that rate. So in 5 years its not inconceivable for that to be close to retail pricing if Patek keeps raising the price to try to match market prices.

But for sure if this keeps up paying 50k is probably less than the secondary prices when you finally give up and then look at the secondary market. I wouldn't do it personally, but i absolutely wouldn't fault anyone who did.
__________________
Instagram: tyler.watches
current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition)
tyler1980 is offline   Reply With Quote
Old 16 May 2018, 03:21 AM   #18
DLRIDES
2024 Pledge Member
 
DLRIDES's Avatar
 
Join Date: Jan 2017
Real Name: Don
Location: NC/WY
Watch: Me
Posts: 4,586
Quote:
Originally Posted by watchfan0529 View Post
Hi folks,

Out of curiosity..anybody here actually paying the premium for the 5711 at +$50k?

Many, but will never admit it on a forum.



I've always been curious what type of people are buying at the upper limit..are there WIS buying at this level or these are just people riding the speculation?

Merely trend followers with plentiful resources.
__________________
”When citizens learn to vote themselves the treasury, they limit prosperity.”
DLRIDES is offline   Reply With Quote
Old 16 May 2018, 04:05 AM   #19
Kittayos
"TRF" Member
 
Join Date: Aug 2013
Location: Bkk
Posts: 307
It's about current value vs future value. How do you know wihin the next 5 years this model will not be discontinued. If you have one now and someone is offering 50k with a 20k profit, will you really sell it knowing one day you might wait it back. You think you can just walk into any Patek AD and put your name on the wait list or ask your previous AD again where you once scored 5711, unlikely imo.

Premium on 5711 is not bad at all.
In asia, 50k is a market price. It costs more indeed nowadays.
Kittayos is offline   Reply With Quote
Old 16 May 2018, 06:55 AM   #20
waspy1
Banned
 
Join Date: Oct 2011
Real Name: Jeff
Location: Home!
Posts: 1,259
If you know you’ll get it at retail in 5 years you may choose to wait it out. But unless you know for sure, why take the risk? Just pay up and know the downside risk is no worse than any similarly priced luxury watch.


Sent from my iPhone using Tapatalk
waspy1 is offline   Reply With Quote
Old 16 May 2018, 07:02 AM   #21
turborolex
"TRF" Member
 
turborolex's Avatar
 
Join Date: Sep 2013
Real Name: H.
Location: USA
Posts: 564
Quote:
Originally Posted by tyler1980 View Post
they are probably leased. Like the lambos, bentleys, and the mansions. In general most celebrities who are in the image game, not just rappers lease most of the stuff. I would be willing to bet there are high end jewelers who do just that.


Didn’t know that....I’m pretty sure you’re right about the dealers leasing too.


Sent from my iPhone using Tapatalk
__________________
current collection: Patek 5712, Patek 5726 (white), Patek 5990, Patek 5524G, Rolex 116500 (white & black), AP 26331ST (Blue).
turborolex is offline   Reply With Quote
Old 16 May 2018, 09:53 AM   #22
Ichiran
2024 Pledge Member
 
Ichiran's Avatar
 
Join Date: Jan 2018
Real Name: Michael
Location: Dotonbori
Watch: Mostly blue dials
Posts: 7,516
There are also instances where people managed to flip their equally popular watches for profit, and don't mind paying the market price for a 5711. The same people who benefited from the law of demand-supply
Ichiran is online now   Reply With Quote
Old 16 May 2018, 11:09 AM   #23
soundserious
"TRF" Member
 
Join Date: Aug 2011
Location: usofmfa
Posts: 3,157
People probably sell out of something and get into a 5711. Like a Lange Dato or something similar.
__________________
Instagram: soundsoserious
soundserious is offline   Reply With Quote
Old 17 May 2018, 06:08 AM   #24
g3ncs
"TRF" Member
 
Join Date: May 2018
Location: Hong Kong
Watch: Patek Philippe
Posts: 20
I know I paid about 45k for my 5712/1a in apri. I dont see the nautilus price dropping anytime soon, tbh its still the ideal choice for most people at this price range.
g3ncs is offline   Reply With Quote
Old 17 May 2018, 07:53 AM   #25
Pimpsy
"TRF" Member
 
Join Date: Jan 2009
Location: New Jersey
Watch: PP 5712/1A
Posts: 516
Every so often a person comes along who simply wants the watch without the wait and can afford to throw down the extra $ for immediate gratification. Dealers sitting on these watches and asking $57K are hoping to get lucky with one of these guys, while watching the market slowly appreciate in the meantime.

Sadly, as long as demand doesn't crash, it's a very profitable strategy so I don't expect it to change.
Pimpsy is offline   Reply With Quote
Old 17 May 2018, 07:55 AM   #26
Pimpsy
"TRF" Member
 
Join Date: Jan 2009
Location: New Jersey
Watch: PP 5712/1A
Posts: 516
Quote:
Originally Posted by g3ncs View Post
I know I paid about 45k for my 5712/1a in apri. I dont see the nautilus price dropping anytime soon, tbh its still the ideal choice for most people at this price range.
I think for many people $5K is preferable to a multi year wait. I got lucky and bought at retail from my AD (who is awesome) but otherwise I would have considered a small premium also.
Pimpsy is offline   Reply With Quote
Old 17 May 2018, 02:08 PM   #27
chhatre9
"TRF" Member
 
Join Date: Sep 2011
Location: US
Posts: 103
I'm so mad. I bought a white dial no complication for 21k 2 years ago. It's now for sale on govberg for literally 50k.....That's your grey market daytona right there.
chhatre9 is offline   Reply With Quote
Old 18 May 2018, 12:16 AM   #28
jrs146
"TRF" Member
 
jrs146's Avatar
 
Join Date: Aug 2011
Real Name: Josh
Location: Lost in time
Watch: Me Nae Nae
Posts: 9,821
Quote:
Originally Posted by Pimpsy View Post
I think for many people $5K is preferable to a multi year wait. I got lucky and bought at retail from my AD (who is awesome) but otherwise I would have considered a small premium also.


I was “lucky” to get my 5712 a few days ago for retail. However maybe I would have been better off paying a premium before the price hike. I bet I could have gotten one for less than 40k if I had jumped on it a year ago, heck maybe even 6 months ago... if we only had a crystal ball.


Sent from my iPhone using Tapatalk
__________________
"Sometimes the songs that we hear are just songs of our own."
-Jerome J. Garcia, Robert C. Hunter
jrs146 is offline   Reply With Quote
Old 18 May 2018, 12:22 AM   #29
tng11
"TRF" Member
 
Join Date: Jun 2016
Location: N/A
Posts: 3,629
Quote:
Originally Posted by jrs146 View Post
I was “lucky” to get my 5712 a few days ago for retail. However maybe I would have been better off paying a premium before the price hike. I bet I could have gotten one for less than 40k if I had jumped on it a year ago, heck maybe even 6 months ago... if we only had a crystal ball.


Sent from my iPhone using Tapatalk
Ahh... this brings back bad memories for me. I turned down a double sealed one for $36K last August as I thought that was too much to pay. I passed on multiple BNIB examples in the low 40s all the way through up to December. 6 months later, I still don't have a 5712 in my hands and there's no firm ETA on when I will ever get one. I'm wishing I just paid the premium in December and gotten over with it.
tng11 is offline   Reply With Quote
Old 18 May 2018, 12:24 AM   #30
jrs146
"TRF" Member
 
jrs146's Avatar
 
Join Date: Aug 2011
Real Name: Josh
Location: Lost in time
Watch: Me Nae Nae
Posts: 9,821
Quote:
Originally Posted by tng11 View Post
Ahh... this brings back bad memories for me. I turned down a double sealed one for $36K last August as I thought that was too much to pay. I passed on multiple BNIB examples in the low 40s all the way through up to December. 6 months later, I still don't have a 5712 in my hands and there's no firm ETA on when I will ever get one. I'm wishing I just paid the premium in December and gotten over with it.


Oh well! Maybe jump on one now. They seem to be in the high 40’s used. With MSRP at 40k it’s not that bad. I really did want want get mine from an AD with my name on the warranty. So I guess I paid a “premium” for that compared to getting one used before the price hike. Ah... enough talk about price. More time enjoying these great watches!


Sent from my iPhone using Tapatalk
__________________
"Sometimes the songs that we hear are just songs of our own."
-Jerome J. Garcia, Robert C. Hunter
jrs146 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Takuya Watches

Bobs Watches

My Watch LLC

OCWatches

DavidSW Watches

Coronet


*Banners Of The Month*
This space is provided to horological resources.





Copyright ©2004-2024, The Rolex Forums. All Rights Reserved.

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Rolex is a registered trademark of ROLEX USA. The Rolex Forums is not affiliated with ROLEX USA in any way.