Double sealed 5726/1A for auction

[jamestucker]

https://www.christies.com/lot/lot-64...ssummary&lid=1

Double sealed Patek for auction. Came from a UK AD. I doubt any action would be taken against the AD as they are a big chain with stores in big cities.

[HMHM]

In the second picture, it looks like the seal has been tampered with. How do you know it’s from a big multi store chain AD?

I wouldn’t be surprised if there’s some dirty tricks done here to make it appear as though it is double sealed.

[jamestucker]

Originally Posted by HMHM

In the second picture, it looks like the seal has been tampered with. How do you know it’s from a big multi store chain AD?

I wouldn’t be surprised if there’s some dirty tricks done here to make it appear as though it is double sealed.

There was a photo of the certificate of origin with the retailers name visible on it. That has been removed now

[Ichiran]

This AD could get into trouble with Patek. They are told not to sell Patek in double sealed boxes to customers since a few years back, and this 5726 is a 2023 model. There is no surprise in an auction because all the details of the lot are published (location of retailer and serial number of the watch) in the marketing magazine.

I won't be surprised if this retailer receives a call from a Patek for an explanation. Repercussions could be in the form of dealership removal of 1 store or less shipment of popular models to that retailer.

That customer would be blacklisted by that AD and Patek (for future application models).

[Will_NL]

Originally Posted by jamestucker

There was a photo of the certificate of origin with the retailers name visible on it. That has been removed now

Which one was it ?

[HMHM]

This is the second time a UK AD has been found to have their allocated Nautilus on auction….
First one was EP M with the 5811 and now this…. I strongly feel that Patek should take action against these dealers!

[dchang81]

if it was a UK dealer, prob like the other thread, they know they're losing their status and getting what they can

[jamestucker]

Originally Posted by Ichiran

This AD could get into trouble with Patek. They are told not to sell Patek in double sealed boxes to customers since a few years back, and this 5726 is a 2023 model. There is no surprise in an auction because all the details of the lot are published (location of retailer and serial number of the watch) in the marketing magazine.

I won't be surprised if this retailer receives a call from a Patek for an explanation. Repercussions could be in the form of dealership removal of 1 store or less shipment of popular models to that retailer.

That customer would be blacklisted by that AD and Patek (for future application models).

I don't think Patek will remove the dealership as it came from a well known Big chain which is well known to sell many high grand complication pieces so less shipment of popular models to that retailer is a possibility.

I think Patek will need to show that they did some thing about the AD selling a double sealed Patek as if no action was taken other retailers around the world will start selling double sealed Pateks again.

[Ichiran]

Originally Posted by jamestucker

I don't think Patek will remove the dealership as it came from a well known Big chain which is well known to sell many high grand complication pieces so less shipment of popular models to that retailer is a possibility.

I have seen 2 big AD chains lost 1 out of 5 Patek dealerships each. No reasons were given by Patek. Of course it could be due to reasons other than flipping but big dealers can be cut just like the smaller ones.

[newonos]

If I'm an AD uncertain of my future, I think it would be a reasonable strategy to hold on to one or two low msrp but high grey market pieces. Consolidation prize if PP let's me loose. I'll bet the culprit is not a current AD, but a past AD.

[Unwind_Asia]

Seems very unusual for the UK.

In the past I have bought from several different AD's - all made a big show of taking the boxes away.

[Wahlberg]

Originally Posted by newonos

If I'm an AD uncertain of my future, I think it would be a reasonable strategy to hold on to one or two low msrp but high grey market pieces. Consolidation prize if PP let's me loose. I'll bet the culprit is not a current AD, but a past AD.

What's the point of cashing that extra 100 or 200k? That's peanuts.

[newonos]

Originally Posted by Wahlberg

What's the point of cashing that extra 100 or 200k? That's peanuts.

Hmmm. Make normal markup on a nautilus... can sell at any time. What's that, 30 percent markup?

Or... always keep one on the safe on reserve. Rotate it with newer stock as it comes in. But. If I'm cut loose, I can sell it grey and be not quite as sad in losing my AD status. The extra margin will more than pay the renovations needed to renovate the no longer needed in-store PP branding.

Sure, Id rather play by the rules and keep the brand. But why let go of a high FMV PP at MSRP when I find out my PP future is limited?

[Whodinkedme]

This auction is from the collection of a single owner and there are 18 double sealed Pateks up for sale. We know Patek stipulated watches must be unsealed before leaving retailers several years ago, but this is clearly a mega-VIP and it is not hard to believe there are different rules for some. Patek would easily know who the seller is from the list of watches for sale, especially as there is a 5320G with a "possibly unique" set of arabic numerals (incidentally this is one of the double sealed watches). There are levels to this hobby and some rules do not apply to everyone.

[mrlube1151001]

May be the owner is from middle east

[watchvr]

I was told by Christies, the entire auction is a single-owner auction, the owner is based in the same city as the auction.

When I looked at the Certificates booklet, the guy has at least 5 double-sealed patek from the same AD in UK they range from 2021, 2022 and to the latest Feb.2023. So the AD knows what are they doing. It's not a single case, but rather a systematic feeding the double seal to a single person.

This is so bad for that AD. But for us, there is nothing that can be done. We don't even have a direct email to Patek to report such activities.

[Jamesd20]

Originally Posted by watchvr

I was told by Christies, the entire auction is a single-owner auction, the owner is based in the same city as the auction.

When I looked at the Certificates booklet, the guy has at least 5 double-sealed patek from the same AD in UK they range from 2021, 2022 and to the latest Feb.2023. So the AD knows what are they doing. It's not a single case, but rather a systematic feeding the double seal to a single person.

This is so bad for that AD. But for us, there is nothing that can be done. We don't even have a direct email to Patek to report such activities.

Maybe the owner is the AD