Help me switch dealers and maybe make an ”opening bundle”

[Tjaeng]

Edit duplicate post.

[Tjaeng]

Originally Posted by np2016

If your spending six figures on timepieces a year at an AD you will become a top priority customer instantly unless your a flipper or ungrateful douchebag customer.

You’d think so, but being a “top customer” means very little if the main avenue of profitability for arrogant proprietors is to run a self-contained tax refund and grey market sell-off racket. Asking for a unicorn piece and having the owner say “Nah, if we get one of those I’m taking it myself” to your face leaves a certain bitterness in one’s mouth.

[PPcollector]

Originally Posted by Tjaeng

You’d think so, but being a “top customer” means very little if the main avenue of profitability for arrogant proprietors is to run a self-contained tax refund and grey market sell-off racket. Asking for a unicorn piece and having the owner say “Nah, if we get one of those I’m taking it myself” to your face leaves a certain bitterness in one’s mouth.

If that is the case, depending on where you reside in Europe...I would go to a Patek Salon and not deal with any AD. It seems you have the means to start a Patek collection but you just need to find a reputable AD. Going to smaller ADs may mean you are a big fish in a small pond but remember the pond will not get filled with sought after or limited releases regularly. Yet, you fear going to larger ADs you may be disadvantaged because they will hold pieces or flip them. Thus, I recommend going direct and deal with Patek directly through their Salons. This gives you a direct line, although you will be starting from the bottom of the ladder...
Just remember...
“Watch collecting is a passion and not an investment.”

[LJubel328]

Originally Posted by B01fan

I think the biggest risk is that the smaller AD loses its Patek account - as Patek has been cutting its doors in recent years.

The ADs in bigger cities who buy tens of millions of product each year, are probably less likely to lose their AD status. But of course harder to be a truly “top” customer at one of those places.

Exactly this. Happened to me last year. Between me and a few family members we purchased in the low six-figures range worth of timepieces over from August-December. My faather wanted a 5990 and before covid they notified him it was coming in. The virus hit, and then during the store's closure, Patek notified the AD they were losing their license. My father was devastated. Luckily, the AD did come through (or possibly, Patek honored the allocation) and my father received his 5990 for Fathers Day yesterday.

However, my family (and mainly myself since I am the one who really loves timepieces the most) is at square one once again. That being said, I would heavily advise to go to a large AD in a large metropolitan city. I would hate to see any member go through something similar.

[glamorama]

Interesting thread. I'm just thinking to myself how you could get rich in first place if you were truly bad at negotiating

[CKizzy]

You lost me at 'So my relationship with my present Patek AD (”A”) has come to a timely end after ~5 Years and about $1M of Rolex and Patek purchased.'

[Pateks]

Originally Posted by CKizzy

You lost me at 'So my relationship with my present Patek AD (”A”) has come to a timely end after ~5 Years and about $1M of Rolex and Patek purchased.'

Customer: "Hello. I'd like to develop a relationship with you"

Patek AD: "What do you mean by relationship. Im already married and all my sales people are dating"

Customer: "No I'd like to develop a relationship so that I can buy watches"

Patek AD: "Well, we don't offer discounts to family or significant others if that is what you are asking"

Customer: "No, you dont understand, Id like to buy watches from you. I spend couple hundred grand a year on watches"

Patek AD: "So why didnt you say so? Just come and ill show you what we have"

[gqmagic]

Originally Posted by Tjaeng

Greetings from Europe! First post, hope it’s not too onerous.

So my relationship with my present Patek AD (”A”) has come to a timely end after ~5 Years and about $1M of Rolex and Patek purchased.

If this is true, dealer A knows Patek and Rolex dealers he could refer you to.

I had big buyers refer me to their ADs and give me the same love the big buyer got for the 1st purchase (Nautilus).

[fsprow]

Just go to Patek on Rue du Rhône in Geneva and make your deal.

[Humble michael]

Originally Posted by fsprow

Just go to Patek on Rue du Rhône in Geneva and make your deal.

Ha , good luck on that! I was there a few years back and the lady there working with the MOD assured me they would get me a 5168 In about a year. They told me I would have to fly in to pick it up. I agreed. They both told me they changed their minds a couple months later, said hey could only sell to locals . :-(

[dauster]

Originally Posted by jon_jon

Something in the story is missing here. If you spent a million on Patek and Rolex how much was on Patek and how much on Rolex? OP said he bought a 5296 and 5524 - any other Pateks? If those were the only Patek references purchased, then you have started a relationship with a Patek AD, but not a major client. Does that mean you spent over 900k on Rolex?

People often mix their spending amount on Patek and Rolex and say I spent xxx amount purchasing both. But in reality, ADs will separate Patek buyers and Rolex buyers. People are inherently a Rolex buyer who may purchase a Patek or two. Or someone is mainly a Patek buyer, who also likes and buys Rolex.

Just because you spent a lot on Rolex at an AD, I wouldn't assume that the AD considers you a good Patek client.

I would say, start slow with a new Patek AD. It takes time to develop a Patek AD relationship. Some forum members had to do it for various reasons, like their AD lost their Patek license or they had a falling out with the AD owner/manager. It is a business for the ADs, but good interpersonal skills do help in the long run for both sides.

I am not even in the same universe as OP in terms of spending power but I like chatting with people and have some friends with bigger pockets and feel like I have decent idea of what Ads want - namely MONEY and a decent interest in actual watches.
With a $1m budget / purchase history you would even be considered a heavy hitter in San Francisco Tiffany... this story seems odd to me.
Has the OP tried simple asking his current AD for what he wants? I find it impossible to believe that anybody would want to loose a client with that much spending power, unless some other personal issues have happened.

[dauster]

Originally Posted by LJubel328

Exactly this. Happened to me last year. Between me and a few family members we purchased in the low six-figures range worth of timepieces over from August-December. My faather wanted a 5990 and before covid they notified him it was coming in. The virus hit, and then during the store's closure, Patek notified the AD they were losing their license. My father was devastated. Luckily, the AD did come through (or possibly, Patek honored the allocation) and my father received his 5990 for Fathers Day yesterday.

However, my family (and mainly myself since I am the one who really loves timepieces the most) is at square one once again. That being said, I would heavily advise to go to a large AD in a large metropolitan city. I would hate to see any member go through something similar.

PP has no mechanism in place to refer heavy hitter clients to new ADs if their current AD loses its status?

[jon_jon]

Originally Posted by dauster

I am not even in the same universe as OP in terms of spending power but I like chatting with people and have some friends with bigger pockets and feel like I have decent idea of what Ads want - namely MONEY and a decent interest in actual watches.
With a $1m budget / purchase history you would even be considered a heavy hitter in San Francisco Tiffany... this story seems odd to me.
Has the OP tried simple asking his current AD for what he wants? I find it impossible to believe that anybody would want to loose a client with that much spending power, unless some other personal issues have happened.

OP followed up his story by saying he has only purchased 3 Pateks with a total under $100k. This means he spent $900k on Rolex if my math adds up. I can't imagine anyone spending $900k on Rolex in 5 years. However some people are die hard Rolex fans and I imagine someone could buy any and every Rolex watch out there.

If OP spent 900k in Patek, he would certainly be a Patek VIP at that AD. I hear a lot of SF Tiffany Patek clients are the silicon valley crowd that have so much money, they spend a couple thousand grand on a Patek on a whim.

[Apheaven]

Originally Posted by dauster

PP has no mechanism in place to refer heavy hitter clients to new ADs if their current AD loses its status?

Not true. Without going into specifics, but speaking from my personal experience, Patek will refer certain client(s) to a new dealer of one's choice albeit it is not a mechanism per se. That being said, the original poster's purchase level specific to Patek isn't quite at the level (with all due respect).

[dauster]

Originally Posted by Apheaven

Not true. Without going into specifics, but speaking from my personal experience, Patek will refer certain client(s) to a new dealer of one's choice albeit it is not a mechanism per se. That being said, the original poster's purchase level specific to Patek isn't quite at the level (with all due respect).

Yeah just read through the rest of thread. Makes more sense now, even though how many platonas did he buy in five years to get to that level of spending with Rolex ? Maybe a big part was jewelry for the wife or so.
Where do the heavy hitter guys buy in the US? There is no salon| corporate boutique in nyc ? Not sure why I’m asking these questions but I guess it’s aspirational.

[PPcollector]

Originally Posted by dauster

Yeah just read through the rest of thread. Makes more sense now, even though how many platonas did he buy in five years to get to that level of spending with Rolex ? Maybe a big part was jewelry for the wife or so.
Where do the heavy hitter guys buy in the US? There is no salon| corporate boutique in nyc ? Not sure why I’m asking these questions but I guess it’s aspirational.

If you are in CA...check the Patek Boutique in Los Angeles:

https://www.gearys.com/patek-philippe/

Otherwise, can always visit the Tiffany store in SF or LA:

https://www.tiffany.com/watches/pate...e-partnership/

Those retailers are as close as you can be with a direct line to Patek versus having to deal with ADs that may or may not have your best interest in mind.

[dauster]

Originally Posted by PPcollector

If you are in CA...check the Patek Boutique in Los Angeles:

https://www.gearys.com/patek-philippe/

Otherwise, can always visit the Tiffany store in SF or LA:

https://www.tiffany.com/watches/pate...e-partnership/

Those retailers are as close as you can be with a direct line to Patek versus having to deal with ADs that may or may not have your best interest in mind.

Thanks but Tiffany may lose its AD status once Lvmh takeover is completed or has that been debunked ?

[Dyim]

Would love to see group shot of aforementioned watches.