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25 March 2021, 07:13 PM | #91 |
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Too much emotion in this thread. Its just a watch fellas. If you love it, keep it. If you bought it as an investment, you can take advantage of market price to trade for a 5270/5970 which you could argue are undervalued.
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25 March 2021, 08:19 PM | #92 |
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Assuming you could buy LEAPS puts on the 5711, would you have loaded the boat with $70K puts and now be aboard a sinking boat? No? $80K puts?
Thank you Mwireless for reminding us of Tesla. Is Dick Chanos still short? |
25 March 2021, 08:23 PM | #93 |
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Was your first Nautilus a 5711? There were lots of Nautilii sitting around dealers cases in 2015 and some were offered at big discounts, the 5980 for example.
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25 March 2021, 08:26 PM | #94 |
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Yeah I don’t get it. The hype is real no doubt. I honestly don’t get it at all. I would honestly no joke not even wear that watch. I find it plain and honestly just not that good looking. There are so many other PP I would wear before that one. $150k for an entry level SS watch is just plain hype, nothing more.
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26 March 2021, 12:13 AM | #95 | |||
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They were around... I think smaller markets had an advantage with this kind of stuff. |
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26 March 2021, 01:57 AM | #96 | |
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Are you comparing Tesla stock to watches I’d be doubling down. 3 year options. Tag me in 2024 and call me out for being wrong.
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26 March 2021, 03:25 AM | #97 |
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No, I'm not comparing Tesla stock to watches although there is a similarity in the sense that price trends and manias can go on for longer than folks expect them to, and players bank accounts can empty out before a trend runs its course. The events that stimulated the price surges in the 5711 were, to me at least, unexpected, beginning with the popularity of SS in general and ending with the cancellation of the white dial and then the blue dial. Along the way I have been tempted to sell or trade mine but have failed to do so out of an excess of inertia which is, usually, what saves me from myself.
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26 March 2021, 07:58 AM | #98 |
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Wow, great thread OP and all. Thanks for the read.
My headspace is 100% where you are at OP. And as Ichiran pointed out, carrying cost of insurance or knowing in the back of my mind the watch is practically irreplaceable has deflated some of the joy. Not sure where I'll land with the same dilemma, but for now I look down at the wrist and can't bear parting even at these prices. -- Oops, wrong thread. Sorry all. |
26 March 2021, 11:37 AM | #99 |
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Let's say hypothetically, you have the blue 5711 and you are fairly confident that you will be allocated the farewell 5711 and in due time the replacement, would you keep all 3?
I understand that all 3 would very likely be different watches but for some, it more of what the watches present rather than the watch. Taking that into consideration as well, what would you do? |
26 March 2021, 12:07 PM | #100 | |
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26 March 2021, 07:41 PM | #101 | |
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I used to live in New Jersey so I know what Pimpsy's talking about, they just love display cases and monk music in NJ. It's one of the many reasons I left. Hopefully, in Melbourne, you do things differently. |
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26 March 2021, 10:31 PM | #102 | |
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I think the watch was always produced right in line with actual demand until around 2017-2018 when rappers decided they all wanted Pateks for some reason. Then everyone on IG wanted one to show off. Patek simply never produced or planned to produce enough to meet the new demand. I know exactly zero people who have entertained paying market for one now. Back and forth between dealers and to the IG crowd who thinks they are actually worthy of the price. I am of full belief they will release a modernized variant in due time. Probably for 50k after tax.
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26 March 2021, 10:50 PM | #103 | |
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For sure. I suspect the 5711 is not overpriced because it's a nice watch but because it became a status symbol of the newly affluent. Once they move on, and they always do, it will cool off. I heard Patek discussed a couple times on Sirius yesterday. Future & Young Thug Ayy, what kinda water is that? That's Patek water (It's Philippe water) Lil Uzi Vert I had to get a Louis, a bag or two It is no one that is bad as you We got new Pateks on Pateks, too Made it straight to the top, got a whole lot to lose
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26 March 2021, 11:57 PM | #104 | |
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27 March 2021, 12:01 AM | #105 | |
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More generally though, I paid ~£18,000 RRP. I bet if I'd been daft enough to pay the current advertised prices, I'd consider it the most beautiful thing I'd ever ever seen. |
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27 March 2021, 12:22 AM | #106 | |
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Interesting post. Some of what you say is right, some of it is wrong. The Nautilus/Aqua has expanded PP brand awareness to a hitherto uninterested market demographic. Problem is PP can't exploit that. To do so, would involve increasing production which they physically cannot do without compromising quality (something which they're already struggling with at just current production levels) AND more importantly doing so will will destroy brand equity. IMO you're seeing this brand expansion as "keeping PP relevant." I think that's entirely wrong. I think what you're not seeing is that PP's dollars come from collectors and enthusiasts from all over the world who don't really care about PP's sports models. I keep saying it, but the market in different countries is radically different to, for example, the USA. The reason that your lovely 5270 has lost so much money is that TS has produced far too many of them. He's fluffed a LOT of references in different ways. The 5270 most of all. So many variants, so many dials, so much volume. This compares very unfavourably with the availability of the 5970 which was produced in much much smaller quantities - the 5970p in particular was a very difficult watch to get. Same with 5170 vs 5070. The latter was made in puny quantities. Same with 5204 vs 5004. The latter was almost built to order with less than 20 leaving the factory every year. THAT is the issue with the current GCs. Mr Stern has made too many. I think demand for them is the same as it ever was. I just hope he doesn't repeat the mistake with its successors. However, this overproduction should not be conflated with 'Fitness 'InstaTubers' demanding Nautilus and pushing prices ever higher and representing the underlying demand for PP - these guys don't - just like the stock market, this isn't a "new paradigm"! |
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27 March 2021, 03:01 AM | #107 | |
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27 March 2021, 04:40 AM | #108 | |
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Time will tell. You don’t shoot the horse you rode in on. I would bet cash money there will be a sub 50k msrp replacement with upgrades. 6711 or whatever the nomenclature. The very idea of getting allocated one is pulling their basic AC/PC/WT inventory through and without those carrots a lot of shelfies will remain shelfies. I know Pateks bread and butter is high net worth individuals but crushing their AD networks golden goose makes little sense to me.
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27 March 2021, 06:27 AM | #109 | |
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Hi In November 2020, I was very fortunate to acquire a 5711 with the new caliber 330. That is a rarity, and I imagine that in time, it will be a very, very rare 5711 and hard to come by. Enviado desde mi iPhone utilizando Tapatalk |
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27 March 2021, 09:08 AM | #110 |
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that this guy has been a member for two years and this is what motivated him to write a first post. Says a lot about the current market indeed.
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27 March 2021, 09:28 AM | #111 | |
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I never participate, but I read you what I can ... I am not a writer for much, but I wanted to comment on it .... I don't care what they can pay for 5711, I don't sell Enviado desde mi iPhone utilizando Tapatalk |
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27 March 2021, 09:38 AM | #112 | |
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27 March 2021, 10:07 AM | #113 | |
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27 March 2021, 01:48 PM | #114 | |
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This is a free forum for all to comment. Welcome and congratulations on your 5711 Sent from my iPhone using Tapatalk |
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27 March 2021, 02:52 PM | #115 | |
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around silicon, annual spending of less than a million USD, you are just another "regular" customer. unlike to see 5740. sad |
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27 March 2021, 05:03 PM | #116 | |
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Who does your friend buy with? THG or Cortina? |
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27 March 2021, 07:10 PM | #117 | |
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MB&F recently launched the 10 year anniversary LMX and the EVO. Both cool looking watches. Congratulations on your ownership of MB&F. |
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27 March 2021, 07:29 PM | #118 | |
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Thanks! I didn't mean anything with my comment, rather as brands they are so different. |
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27 March 2021, 07:37 PM | #119 |
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It’s all relative though... I know he has 4 Pateks. One is a 5712G on a strap. But in a grand scale of things compared to the really big players worldwide his would appear insignificant. I visited the Patek London boutique and the SA told me they have clients who spent a total of £20m with them.
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27 March 2021, 08:11 PM | #120 |
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Yes, it is relative but I suspect with the smaller countries like Malaysia it it easier when it comes to allocation. Contrary to what ADs tell us, they and not Patek decides on who gets allocated what. The 5740 is a hard one. Like the 5270p salmon, each boutique receives about 2 a year. So this means 4 a year for Cortina in Malaysia. I was given an opportunity to buy the 5167SG and the 6007a but I am still waiting for my 5740. Sent from my SM-G985F using Tapatalk |
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