5% official Patek price increase from 1st September

[Mini2]

Originally Posted by mykii

Terrible, salty, opinion.

What AP is doing is no different than any other manufacturer. They have wild demand. It is real. They're no greedier than you are for wanting only their hot models, or Patek or Rolex for wanting to run the best business that they can.

A person wanting hot pieces is the same as a brand wanting to control everything from r+d, manufacture, to retail. Hmmmmm

[Mini2]

Originally Posted by Rickkk

So are Vacheron being ‘greedy’ by making most of their desirable models boutique only then?

They want that direct retail customer, I cant blame them but if I was an AD and they started making certain watches boutique only I wouldnt be happy. How do I keep my core clients if Vacheron just wants to steal them

[Mini2]

Originally Posted by GW44

How are AP being "greedy" please?

Apologies if ive caused offence, I fully appreciate your relationship with AP is very strong.

Its just my opinion

[DK7]

confirmed ?

[Partekular]

Demand exceeds supply > price rises. PP’s are Veblen goods so their rarity is part of the attraction not just the exquisite design and manufacture.

The grey / gray price and flippers may indicate the AD price is too low allowing other non official dealers to cream off profit which ought to go to PP. Judging quite how high prices can be pushed is for PP to try out.

I would rather go to an AD who told me that a piece costs XYZ and there’s a two week wait than be given the run around at a cheaper price and be put on a never reached wait on a waiting list or be tempted/bribed/manipulated into buying a watch I do not want.

PP seem to make it work for them with a production run of 50-60,000 a year. Why would they want to expand even if they could find the skills if they are in profit? Mass production would weaken the exclusivity and desirability. Collectors, who also think they are investing in the watches, would fall away. The second hand market also has to be watched (pun intended) to keep the collectors faith so it’s a delicate balance in marketing game played with the grey / gray marketeers.

Which PP buyer wants to see the prices fall? I don’t!!!

Some of their prices are OTT and once the market feels that they are being taken for a ride they will have to pull back a bit. Look at Hermes Birkin handbags, they are in the same game - Veblen buyers market!

[GW44]

Originally Posted by Mini2

Apologies if ive caused offence, I fully appreciate your relationship with AP is very strong.

Its just my opinion

No offence taken here and my own relationship with the brand has no bearing on asking you to enlarge on your earlier post. It just seemed a rather ill judged comment (on a public forum that watch manufacturers might observe from time to time....) without any real explanation but, maybe, borne of your own frustrations with the pathway into the brand in the UK?

Feel free to explain if you feel you want to, I'm all ears

[Fenrira]

Originally Posted by Partekular

Which PP buyer wants to see the prices fall? I don’t!!!

Some of their prices are OTT and once the market feels that they are being taken for a ride they will have to pull back a bit. Look at Hermes Birkin handbags, they are in the same game - Veblen buyers market!

I do. While I’m not one of those who wishes for everything to crash below retail prices, I don’t enjoy the current situation even though a few of my pieces are worth more than retail. It’s quite disheartening that my AD of many years isn’t even entertaining my interest in any Patek. The best days were those in which one could realistically build a relationship with their AD and eventually acquire their desired piece within a year or two. It preserves the thrill of the chase, market values (though not stupid multiples above retail – I’m thinking more in line with the Birkins’) and brand exclusivity. Lastly, the relatively lower resale values compared to today will undoubtedly weed out many flippers in favour of actual enthusiasts.

[Mini2]

Originally Posted by Fenrira

I do. While I’m not one of those who wishes for everything to crash below retail prices, I don’t enjoy the current situation even though a few of my pieces are worth more than retail. It’s quite disheartening that my AD of many years isn’t even entertaining my interest in any Patek. The best days were those in which one could realistically build a relationship with their AD and eventually acquire their desired piece within a year or two. It preserves the thrill of the chase, market values (though not stupid multiples above retail – I’m thinking more in line with the Birkins’) and brand exclusivity. Lastly, the relatively lower resale values compared to today will undoubtedly weed out many flippers in favour of actual enthusiasts.

Not so long ago relationships were not even spoken they just wanted to sell product.

[Mini2]

Originally Posted by GW44

No offence taken here and my own relationship with the brand has no bearing on asking you to enlarge on your earlier post. It just seemed a rather ill judged comment (on a public forum that watch manufacturers might observe from time to time....) without any real explanation but, maybe, borne of your own frustrations with the pathway into the brand in the UK?

Feel free to explain if you feel you want to, I'm all ears

What I say should have no bearing, Im just some person behind a screen giving my opinion. Regarding brands observing forums this again has no bearing nor would it change my attitude to current markets because I so desperately want a particular watch.

My time on this forum should hold enough weight to distinguish between a modern day collector to a fly by night chancer

[GW44]

Originally Posted by Mini2

What I say should have no bearing, Im just some person behind a screen giving my opinion. Regarding brands observing forums this again has no bearing nor would it change my attitude to current markets because I so desperately want a particular watch.

My time on this forum should hold enough weight to distinguish between a modern day collector to a fly by night chancer

Well, I truly hope you actually get what you want when you step out from behind your screen into the real world.

[Mini2]

Originally Posted by GW44

Well, I truly hope you actually get what you want when you step out from behind your screen into the real world.

[mykii]

Originally Posted by GW44

Well, I truly hope you actually get what you want when you step out from behind your screen into the real world.

This is the true to Mini2!

And lol at it never being about relationships prior. Yes, things weren't crazy like they are now, but AP and PP have always been about relationships.

Also... how ironic is it that Mini2 is in the AP forum complaining that he can't get an AP allocation... I guess my original take on this individual being salty is an understatement:

Originally Posted by Mini2

I cant get anything maybe I need to be more careful what I say on public forums

Can we get back to discussing PP now? And the price hikes? What's the word on this?

[Mini2]

Originally Posted by mykii

This is the true to Mini2!

And lol at it never being about relationships prior. Yes, things weren't crazy like they are now, but AP and PP have always been about relationships.

Also... how ironic is it that Mini2 is in the AP forum complaining that he can't get an AP allocation... I guess my original take on this individual being salty is an understatement:


Can we get back to discussing PP now? And the price hikes? What's the word on this?

What I couldn't get in recent times I might be able to get in coming times. Every cloud has a silver lining.

[Will_L]

My AD says no price increase. Contacted Patek to find out

[Russell996]

Originally Posted by Will_L

My AD says no price increase. Contacted Patek to find out

It’s a Uk price rise. Exchange rate issues.

[llngoc]

Originally Posted by Russell996

It’s a Uk price rise. Exchange rate issues.

Maybe the US will get a price reduction due to strong US dollars?

[QuelleHeureEstIl]

Currencies are now getting back to "normal game" (like pre-covid). So we can expect more price adjustments like this, based on exchange rates only. The move of GBPCHF and EURCHF is impressive

[Mini2]

Maybe they sense further weakness again the £

[gmtlove]

Originally Posted by Russell996

It’s a Uk price rise. Exchange rate issues.

Not only UK. Was confirmed by my AD here in germany also.

[gordon86]

Originally Posted by Fenrira

I do. While I’m not one of those who wishes for everything to crash below retail prices, I don’t enjoy the current situation even though a few of my pieces are worth more than retail. It’s quite disheartening that my AD of many years isn’t even entertaining my interest in any Patek. The best days were those in which one could realistically build a relationship with their AD and eventually acquire their desired piece within a year or two. It preserves the thrill of the chase, market values (though not stupid multiples above retail – I’m thinking more in line with the Birkins’) and brand exclusivity. Lastly, the relatively lower resale values compared to today will undoubtedly weed out many flippers in favour of actual enthusiasts.

Cant help but to agree and I am owner of multiple PP, including the "hot" models. Would love for a normal shopping experience especially if we are spending 10s and even 100s of thousands. Cant wait for the flippers to leave and the store has more inventory to try and choose from (which is starting to happen). Lastly, dont have to go out worried about being robbed :)

[ScouseJim]

Originally Posted by Patton250

Recession only hurts mostly lower middle class. Don’t get me wrong it does hit the middle middle class and the upper middle class as well but mostly the lower middle class.

AND the working class...

[sigma089]

Originally Posted by gmtlove

Not only UK. Was confirmed by my AD here in germany also.

Really? Then it's the third one in a year for Germany imo. That's ridiculous. The last increase was in March imo.

[DK7]

Originally Posted by gmtlove

Not only UK. Was confirmed by my AD here in germany also.

01.09 ?
yet again? how much, each model the same?

[gmtlove]

Yes, 01. September. Dont know if all models are affected and if the raise all the same.

[unotaz]

Yup, confirmed by my dealer as well

[S``]

Originally Posted by sigma089

Really? Then it's the third one in a year for Germany imo. That's ridiculous. The last increase was in March imo.

Not really when you have to convert your earnings to CHF.... Have you seen what the Euro / GBP been doing these past couple of months? I'm surprised they took this long to adjust

[JC180]

Confirmed by my AD today. 5% 1st Sept. Not got any incomings in the interim sadly though just did pick up a 5212a which will now head north of £30k with the price increase.

[Henry14th]

Originally Posted by JC180

Confirmed by my AD today. 5% 1st Sept. Not got any incomings in the interim sadly though just did pick up a 5212a which will now head north of £30k with the price increase.

Nice purchase. It’s such a nice watch I’d say it’s still a bargain at that price.

[Mini2]

Originally Posted by IceOneBro

Isnt this the 2nd set of increases this year?

Another planned for January

[GW44]

Originally Posted by Mini2

Another planned for January

If correct, ouch