PP asking for business cards now?

[qrc36]

Originally Posted by Valedictorian

Meanwhile, I’m a junior partner in a strategy consulting firm. People usually think we’re highly overrated (some like our pptx though). Nevertheless, since I don’t live in HK, that shouldn’t even matter as far as getting a 5711 at retail is concerned.

On a different note: I’m surprised the waiting time can be only around 3 months in this era of 100% mark-up. I haven’t seen a blue dial 5711 in the flesh in years.

I was so surprised too. It was less than 3 months for the 5711 blue. I was totally surprised, as I was expecting at least 1 year even with my connections.

However, my AD said the business card was "too good" and they jumped the queue for him (doctor, head of department for the most expensive private hospital in HK).

I went together with my friend to collect it. It's got the new lettering (post-Baselworld edition) and it looked nice ... but my eyes are set on the 5740 which has a much nicer shade of blue!

[R!$]

It is a method to deter flippers

[joshua182]

The name card thing does apply in Hong Kong ADs.

They do screen their customers, trying to filter out those who intend to resell. not every AD is the same.

Im managed to waitlist decent patek watches in HK because im working here.. incidentally, for a big IB, so card game is decent... lol, it is really like handing over your cv, the whole process...

[tom2517]

This whole business card thing, unless HK ADs are making a big effort to sell to new customers, otherwise why bother? It’s not like they get 5711s by the dozen, if 5711 is as rare as people made it out to be, the ADs would be selling it to people they already know, the VIPs, no need for business card.

But if HK ADs are really using it to give new local customers a chance, well, not a bad idea.

[Burlington]

And people waiting for a 116610 think it’s tough out there

[grimani]

Originally Posted by tom2517

This whole business card thing, unless HK ADs are making a big effort to sell to new customers, otherwise why bother? It’s not like they get 5711s by the dozen, if 5711 is as rare as people made it out to be, the ADs would be selling it to people they already know, the VIPs, no need for business card.

But if HK ADs are really using it to give new local customers a chance, well, not a bad idea.

they definitely sell to new customers

[qrc36]

Apparently PP (the distributor in HK, Libertas) does not want its more popular pieces to be concentrated in the hands of a few people .... so they actually want ADs to source a wider clientele.

For this reason, people who already have 5711 blue (for example) will be placed lower in the queue if they want a 5711 white. Well, that's what the AD says anyway.

[tom2517]

Originally Posted by qrc36

Apparently PP (the distributor in HK, Libertas) does not want its more popular pieces to be concentrated in the hands of a few people .... so they actually want ADs to source a wider clientele.

For this reason, people who already have 5711 blue (for example) will be placed lower in the queue if they want a 5711 white. Well, that's what the AD says anyway.

Yeah like I said above, if this really is the case, good for them. Instead of using it as a reward piece for big collectors or grey dealers, let some normal people (if one can call famous doctors normal) have a chance at it without having to spend hundreds of thousands on other pieces just to get a shot for a 5711.

[quattro100]

I am not a big collector at all but I think the AD here (at least the one I dealt with) definitely work with new clients. My first piece was the 5524G within 30 days earlier this year after they check my card/met me in person. I had not purchased a PP from HK before.

After that I ordered the 7118 for my wife and without much hope, tag the 5711 blue along as well. To my surprise, received both within 6 months, can't be happier. I stop by from time to time when I am nearby to chat with the sales guy on random topics / watches. Always wearing the pieces he sold me.

I guess the system is not perfect but at least they try to get hot pieces to new clientele.

In contrast, I tried the Taiwan AD as well, basically told me that the 5711 will come along with a PC......

[tom2517]

Originally Posted by quattro100

I am not a big collector at all but I think the AD here (at least the one I dealt with) definitely work with new clients. My first piece was the 5524G within 30 days earlier this year after they check my card/met me in person. I had not purchased a PP from HK before.

After that I ordered the 7118 for my wife and without much hope, tag the 5711 blue along as well. To my surprise, received both within 6 months, can't be happier. I stop by from time to time when I am nearby to chat with the sales guy on random topics / watches. Always wearing the pieces he sold me.

I guess the system is not perfect but at least they try to get hot pieces to new clientele.

In contrast, I tried the Taiwan AD as well, basically told me that the 5711 will come along with a PC......

Lol, yeah no such system in Taiwan.

[pereiraex]

Thanks for sharing everyone. I’m hopeful that I will get the 5711 blue sometime his year then, not sure what everyone else has on their name cards but hopefully mine works.

[kitsgq]

Originally Posted by qrc36

It's been going on for the last few years in HK. It's a requirement by Patek. They want people who (appear) to be real buyers and not reselling for profit.

The AD collects the cards, chooses the "best" buyer, and hands the information to Patek.

Patek then chooses the buyer they like, and then when a watch is available, Patek calls the number on the business card to verify that this person exists.
They really do the due diligence, making the call to the workplace and verifying the information.

Once Patek gives the green light, the AD receives the watch and then the watch is sold. The person who gave the card must be there to purchase it. The name on the papers must also match the card.

With the right card, getting a 5711 or 5712 should take less than 3 months. I got my 5711 white that way, and I have helped friends get their 5711 blue and 5712 within 1-2 months of the request.

All 3 of us are (medical) doctors and one of them is a professor at the local university. The other is head of a medical department at the most expensive private hospital here. The AD basically quoted me "3 months" as soon as I told them about my friends' job titles.

My AD keeps telling me to put my name down for a 5711 blue (I already have the white) - she says it's good value and only a 3 month wait - but with the price hike it's not really worth it anymore. I'm saving for the 5740!

That's quite impressive. I had no idea Patek actually was involved in the operational side of selling non application pieces to the end user.

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[tom2517]

Originally Posted by kitsgq

That's quite impressive. I had no idea Patek actually was involved in the operational side of selling non application pieces to the end user.

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I think it’s something HK Patek distributor is doing, not necessarily from Patek themselves.

[pereiraex]

Originally Posted by tom2517

I think it’s something HK Patek distributor is doing, not necessarily from Patek themselves.

Just went to another AD today on Kowloon side who was happy to take my card but when I mentioned that I had already given my cards to other ADs that it might be better for me NOT to submit to the distributor through him as Patek/Libertas did not take too kindly to people who submit cards through multiple ADs. Regardless, had a very nice chat and he seems like someone who I would be happy to work with going forwards.

I double confirmed with the sales rep and he was positive that they give the name cards onto the distributor in order to 'apply' for the watch (in his own words). Hopefully I see a 5711 sometime this year or first half of next!

[jon_jon]

Interesting to hear the 5711/1A has now become an "application" piece, at least in HK.

Its cult status may rival a different application watch - the 5131. I wonder if Libertas actually allocates a 5711 to an AD or to a specific customer applying through the AD.

For the 5131, the allocation process seemed to differ by country and region. In many Asian countries, the 5131 was allocated to an AD. In many European countries, it was allocated to an applicant/client. Whereas in the US, it was some combination of the above two scenarios.

[kitsgq]

Originally Posted by tom2517

I think it’s something HK Patek distributor is doing, not necessarily from Patek themselves.

Makes sense as I can't imagine PP would have the resources to manage that.

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[Wahlberg]

What happens when you are 30-60 years old, retired and got 250 million USD.

You're SOL? Or do you buy the AD?

[A3MED]

Originally Posted by Wahlberg

What happens when you are 30-60 years old, retired and got 250 million USD.

You're SOL? Or do you buy the AD?

You probably wouldn’t have a problem coughing up $50k + for a 5711/12


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[GB-man]

Originally Posted by Wahlberg

What happens when you are 30-60 years old, retired and got 250 million USD.

You're SOL? Or do you buy the AD?

You buy whatever you want.