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17 February 2020, 02:43 PM | #31 |
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It seems that PP has very little control over to whom their watches are sold (with the exception of application pieces and perhaps unless the customer is black-listed). It's mostly the ADs making the decision, and since unlike AP, Patek is operating mostly on AD networks, it seems like it's not so much brand loyalty, but more so AD loyalty. ADs seem to open the door for Rolex sports models based on Patek purchase history, and it seems like the concept of loyalty is fluid across brands within an AD.
So as for Patek, I don't necessarily buy the argument that it's about "brand loyalty" as much as how much respect you have for an individual timepiece. Patek watches, especially the sports models, have always been available for purchase to anyone as long as in stock, so I don't think it suddenly became all about loyalty to Patek Philippe corporate with the Nautilus/Aquanaut popularity. However, I do think they're trying to argue for/retain the idea of the importance of respect that people have for their watches, much like how they treat their very special application pieces. I think they acknowledge and understand that their watches can retain/increase/lose value, sharing characteristics from a range of more defined tradable commodities to more ambiguous ones like art. Yet, they don't want people to see it only as a "thing" of which value is mainly dictated by supply/demand, and especially flippers to speculate on their watches. They would rather be happy with customers that can form some sort of long(er) term bond with their watches, whether it's worn once a year or Mr. Stern's 5740-style. I share the sentiment with many here that I think it's very unlikely that Patek will change how the watches are distributed. I honestly don't think there's a right/wrong answer, and it is the way it is, but I am curious to talk more about how they would approach this state philosophically, especially as a company that statedly values more than just profit. For a brand like Patek, is it better if a one-time buyer of a Nautilus wears it everyday as his/her only watch (and therefore, should be given the opportunity to purchase), OR would Patek prefer it that it goes to a "loyal" collector (to reward loyalty and retain business), but it sits in a safe along with 15 other watches? Different people enjoy their watches in different ways (whether daily wearer or safe queen), and no one can define that, but it seems like the economy of doing business is pushing this philosophy in a singular direction! S |
17 February 2020, 02:53 PM | #32 |
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17 February 2020, 03:03 PM | #33 | |
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Quote:
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17 February 2020, 03:08 PM | #34 |
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For a brand like Patek, is it better if a one-time buyer of a Nautilus wears it everyday as his/her only watch (and therefore, should be given the opportunity to purchase), OR would Patek prefer it that it goes to a "loyal" collector (to reward loyalty and retain business), but it sits in a safe along with 15 other watches?
I think this is where the ADs are going, and they want to serve both groups. |
17 February 2020, 03:18 PM | #35 |
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17 February 2020, 03:37 PM | #36 |
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Who is "they"? I assume you mean the AD as Patek does not control the allocation to you except for the rare pieces that require an application. So in this case, you just have a nice dealer.
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17 February 2020, 04:49 PM | #37 |
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17 February 2020, 06:23 PM | #38 |
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PP discontinued the White 5711 so that everyone who passed on one in the hopes of getting a Blue 5711 would regret that decision.
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18 February 2020, 12:55 AM | #39 | |
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I bet you, a time will come when posting a pic of your Rolex sat at wheel of your Bentley, flexing your tatoo-ed muscles, will be so passe, so excruciatingly embarrassing, so meaningless, people will stop doing it. Maybe signalling status will be posts about people at their desks. |
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18 February 2020, 01:00 AM | #40 | |
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This was already done via mediums such as TRF, TZ, TZ-UK, WUS and the likes... Therefore, "flexing" isn't really a new phenomenon. It just became more "mainstream" due to IG, rather than a "WIS" only deal. |
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18 February 2020, 01:45 AM | #41 |
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18 February 2020, 02:33 AM | #42 |
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IG didn't do anything to push prices. Only thing IG has proven is that everyone wants to live a fake life except for the very few that puts their faces out there (Alec Monopoly/Dan Bilzerian and the likes who ACTUALLY do have $). The rest are still poor.
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