Patek Boutique / AD survival skills

[tyler1980]

Originally Posted by tom2517

Yep, they do this all the time, I see it a lot in Asia.

I wanted to buy a 5131P and was told I need to buy a diamond studded Nautilus, plus another unpopular piece in order to get the 5131P at MSRP.

On top of that, many of the ADs sells ultra popular models at a premium. It's against the rules but hard to prove.

not to rehash the other controversial thread, but its been pretty mush established its not against the "rules". Personally, i would not give an AD like that my business and would vote with my wallet. They can do what they want, and so can you.

[SpeedyTuomas]

Originally Posted by tyler1980

not to rehash the other controversial thread, but its been pretty mush established its not against the "rules". Personally, i would not give an AD like that my business and would vote with my wallet. They can do what they want, and so can you.

I agree. Although I would even entertain the idea of reporting it to PP, even if it would not be against any specific rules..just seems wrong.

[JorgeCCW]

I think the market for grand complications and complications is steady, that's a niche for a connoisseur that can afford to to buy them. The Sport watches in the other hand is a broader market, where its not only more accessible, relatively speaking (lets say 40k and below) but also has more mass appeal. So the demand on this bracket (sport watches) is always gonna be high, so it makes sense for PP to tweak their supply (not good for the AD), win win for PP.
I think in the long run PP will adjust the supply to go back to normal, because they need the AD's. Unless this is just a way to get rid of AD's from PP........ don't we love to speculate when we really have no basis to say things

[thomaspp]

Originally Posted by JorgeCCW

I think the market for grand complications and complications is steady, that's a niche for a connoisseur that can afford to to buy them. The Sport watches in the other hand is a broader market, where its not only more accessible, relatively speaking (lets say 40k and below) but also has more mass appeal. So the demand on this bracket (sport watches) is always gonna be high, so it makes sense for PP to tweak their supply (not good for the AD), win win for PP.
I think in the long run PP will adjust the supply to go back to normal, because they need the AD's. Unless this is just a way to get rid of AD's from PP........ don't we love to speculate when we really have no basis to say things

I believe the market for minute repeaters and other "big" watches is slow at the moment.

[CKL1213]

Controlling PP sports supply : Yes I believe PP do so

Buy other PP model to get a 5711 : No I don't think PP allow that, is the AD trying to rip us

[tom2517]

Originally Posted by CKL1213

Controlling PP sports supply : Yes I believe PP do so

Buy other PP model to get a 5711 : No I don't think PP allow that, is the AD trying to rip us

I don't think PP is stupid though, they must know ADs do that, they just turn a blind eye. But I don't really blame them since ADs makes money for them, they are on the same ship.

[Marciano490]

Originally Posted by tom2517

I don't think PP is stupid though, they must know ADs do that, they just turn a blind eye. But I don't really blame them since ADs makes money for them, they are on the same ship.

Ultimately, if they're bundling the nautilus with another Patek, it makes Patek money as well. If they're selling it with jewelry or other brands, I can see Patek being disturbed.

Is Patek moving more to a boutique-centric model like Mille and AP, or are they continuing to use ADs going forward?

[tyler1980]

Originally Posted by Marciano490

Ultimately, if they're bundling the nautilus with another Patek, it makes Patek money as well. If they're selling it with jewelry or other brands, I can see Patek being disturbed.

Is Patek moving more to a boutique-centric model like Mille and AP, or are they continuing to use ADs going forward?

i have no idea, but i hope not. Clearly margins for them would be better with brand owned points of sale but its a big commitment and a lot more overhead costs given the limited number of Salons they currently have. For me I would not use the current Salon in London given the choice, especially if i am paying retail anyway at an AD because at least the AD also sells other brands too so to me the AD relationship is more important to me than a Salon relationship.

[tom2517]

Originally Posted by Marciano490

Ultimately, if they're bundling the nautilus with another Patek, it makes Patek money as well. If they're selling it with jewelry or other brands, I can see Patek being disturbed.

Is Patek moving more to a boutique-centric model like Mille and AP, or are they continuing to use ADs going forward?

In Taiwan they still work with AD but does require them to open a separate area for Patek (just like Rolex), and they do bundle with other Pateks. There are a lot of slow selling Pateks.

[pam66]

Originally Posted by CKL1213

Controlling PP sports supply : Yes I believe PP do so

Buy other PP model to get a 5711 : No I don't think PP allow that, is the AD trying to rip us

there are slightly more subtle ways of doing this. recently i bought a rolex daydate 40 from an AD (at a good discount of course) and after the acquisition i was offered to buy various (currently almost unavailable) rolex sports models (declined) and a swift progress on the steel daytona waiting list (accepted).

[CKL1213]

I guess all this waiting game and bundling game make the brand more exclusive and appealing

[Marciano490]

Originally Posted by CKL1213

I guess all this waiting game and bundling game make the brand more exclusive and appealing

I find it dull, annoying and a turnoff.

[tom2517]

Originally Posted by Marciano490

I find it dull, annoying and a turnoff.

Yes, so like Tyler said I vote with my wallet and went grey.

[tyler1980]

Originally Posted by tom2517

Yes, so like Tyler said I vote with my wallet and went grey.

I didn't go grey, just found a better AD. They are out there. But nothing wrong with grey either especially vs a shady AD.

[MrBenF]

Originally Posted by tom2517

In Taiwan they still work with AD but does require them to open a separate area for Patek (just like Rolex), and they do bundle with other Pateks. There are a lot of slow selling Pateks.

2/3 local ADs have set aside a separate area for Patek. The 3rd is a small store (casino).


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[tom2517]

Originally Posted by tyler1980

I didn't go grey, just found a better AD. They are out there. But nothing wrong with grey either especially vs a shady AD.

Can’t just walk into a new AD and ask for 5131P though.

[GB-man]

Originally Posted by tom2517

Can’t just walk into a new AD and ask for 5131P though.

You can if you bring a million dollars to order other stuff

[CKL1213]

Originally Posted by tom2517

Yes, so like Tyler said I vote with my wallet and went grey.

No doubt grey can get the watch faster but sometimes chunking out the amount of money for a Patek we want to sit inside the AD or Boutique and sip some Patek coffee and enjoy the moment.

Going grey we most probably end up in Starbucks but we don't have to wait 3 years

[tom2517]

Originally Posted by CKL1213

No doubt grey can get the watch faster but sometimes chunking out the amount of money for a Patek we want to sit inside the AD or Boutique and sip some Patek coffee and enjoy the moment.

Going grey we most probably end up in Starbucks but we don't have to wait 3 years

To get 5131P at AD one would need to chunking out a lot of money. The bottom line is, do I want to pay a little premium for a grey 5131P or do I want to spend a lot of money buying Patek watches that I don’t want just so I get a shot on a 5131P.

Like I said above, one AD wanted me to to buy two Pateks in order for me to get 5131P. A diamond studded Nautilus and another slow selling Patek.

I’m not a frequent buyer of Pateks, so I have next to zero relationships with AD, but when I do want to buy a Patek, often times it’s a hard to get piece like 5970P and this time, 5131P.

[kronomentro]

Of course PP also raised their prices in last 10 years to combat that 2nd hand prices were higher than retail. They certainly keep production of SS sport watches low to further create demand. Certainly Hermes is known to use the same strategy with the Birkin.