Govberg asking US$37.5k for LNIB Blue 5711. What is going on?!

[RussW]

A very interesting interview with Thierry Stern on Timezone. One interesting comment was this:

Thierry Stern: The 7-8 year cycle is not a rule, instead we try to get a sense of the market. And the evolution for the client is different. Now people like to buy watches all the time. Watches like the Nautilus are iconic watches, they like that. I am not sure whether, if I stop producing the Nautilus, people will like that. Sometimes I ask myself: Should I stop producing the Nautilus? Because if we made a lot of them, this will also be dangerous. Should we apply the rule of the 7 year cycle? No, we have to follow the trend of our time but also apply limits. The 7 year cycle is a good guide. We can always make something new. We can rethink the dial or the movement. We can't rethink the design. That's impossible - but we can do something similar. One day the Nautilus will be stopped, I will have to make that decision. It could be a disaster for our clients, but we would have made enough Nautilus and we will introduce something better.

Prices for the Nautilus will be even more crazy when that day comes!

[Hollister]

Originally Posted by dmash

x2

I don't own one, don't even want one, but when this watch goes out of production, it will rocket in value. It's already way over retail and they are still making them.

[Tomas Eriksson]

Grey dealers here in Sweden have gotten those prices for 5711 for quite a while... I myself witnessed one being sold for that amount back in april.

[jonathan17]

Originally Posted by Giggsy11

In the UK people are paying at those prices...

In Singapore too, i think..

[dmash]

Originally Posted by Hollister

I don't own one, don't even want one, but when this watch goes out of production, it will rocket in value. It's already way over retail and they are still making them.

I don't disagree that WHEN it's discontinued they will be worth a pretty penny.......however, per your comment, in a couple (2) years a 5711 will be worth 50k. That was the words I'm 'marking'. Highly doubt the most in demand model by PP is going to get discontinued by 2019




Honestly, I don't even know why Stern is saying he would discontinue it. It's an iconic Genta design, the Nautilus is sometimes the only PP model certain people know. It's like AP discontinuing the Royal Oak and only selling Offshores. Does this not seem sort of silly to most others on here? I don't get it........

Would they discontinue the Aquanaut too since it has a similar case? The entire 'sport' line would get revamped? That just sounds disastrous....

[Hollister]

Originally Posted by dmash

I don't disagree that WHEN it's discontinued they will be worth a pretty penny.......however, per your comment, in a couple (2) years a 5711 will be worth 50k. That was the words I'm 'marking'. Highly doubt the most in demand model by PP is going to get discontinued by 2019

OK, let's see. I think it will be discontinued, but even today, and still in production, they are already pushing 40k.

[Hollister]

Originally Posted by Tony64

Agree. It's simple free market capitalism. Ultimately it's the consumer who sets the price.

Govberg's not a new kid on the block. They're an established brick and mortar operation that's well respected and quite successful. Unless it's somehow an oversight on their part, I'd assume they know what they're doing.

Unlike most of us here, they do this for a living.

This.

[HorologyK]

Originally Posted by dmash

I don't disagree that WHEN it's discontinued they will be worth a pretty penny.......however, per your comment, in a couple (2) years a 5711 will be worth 50k. That was the words I'm 'marking'. Highly doubt the most in demand model by PP is going to get discontinued by 2019




Honestly, I don't even know why Stern is saying he would discontinue it. It's an iconic Genta design, the Nautilus is sometimes the only PP model certain people know. It's like AP discontinuing the Royal Oak and only selling Offshores. Does this not seem sort of silly to most others on here? I don't get it........

Would they discontinue the Aquanaut too since it has a similar case? The entire 'sport' line would get revamped? That just sounds disastrous....

B/C he doesn't want to be known as a one watch company. Read his past interviews over the years.

[dmash]

Originally Posted by HorologyK

B/C he doesn't want to be known as a one watch company. Read his past interviews over the years.

Yeah, yeah of course, I'm aware. My 'why' was more of I just don't understand him wanting to get rid of it based on that. As long as he kept production at a stable level they would never become a '1 watch' company. Also, sport watches are what people like now, they're exponentially more popular than dressy counterparts. Just would be sort of shocking to see PP completely rid themselves of their most popular piece in that sport category. Idk though, I just really like the Nautilus, I'm biased.

What intrigues me the most is him stating that they may bring out something new. PP being more of a traditional company with timeless designs, I haven't a clue what they would bring to the table.

[AK797]

Originally Posted by RussW

A very interesting interview with Thierry Stern on Timezone. One interesting comment was this:

Thierry Stern: The 7-8 year cycle is not a rule, instead we try to get a sense of the market. And the evolution for the client is different. Now people like to buy watches all the time. Watches like the Nautilus are iconic watches, they like that. I am not sure whether, if I stop producing the Nautilus, people will like that. Sometimes I ask myself: Should I stop producing the Nautilus? Because if we made a lot of them, this will also be dangerous. Should we apply the rule of the 7 year cycle? No, we have to follow the trend of our time but also apply limits. The 7 year cycle is a good guide. We can always make something new. We can rethink the dial or the movement. We can't rethink the design. That's impossible - but we can do something similar. One day the Nautilus will be stopped, I will have to make that decision. It could be a disaster for our clients, but we would have made enough Nautilus and we will introduce something better.

Prices for the Nautilus will be even more crazy when that day comes!

What's the something better in sports? Doubtful they have the chops. Subs, ROs and Nautilus' are here for a long time.

[ufboy73]

Originally Posted by AK797

What's the something better in sports? Doubtful they have the chops. Subs, ROs and Nautilus' are here for a long time.

Time for their Offshore...

That pilot watch was the beginning...lol (maybe)

[PJ S]

Originally Posted by AK797

What's the something better in sports? Doubtful they have the chops. Subs, ROs and Nautilus' are here for a long time.

New line of Pilot watches in 39 and 42mm sizes, with the usual array of complications that look a mess because they'll still use the 324 variants instead of creating a case-size appropriate caliber.

[dmash]

Originally Posted by ufboy73

Time for their Offhsore...

That pilot watch was the beginning...lol (maybe)

Originally Posted by PJ S

New line of Pilot watches in 39 and 42mm sizes, with the usual array of complications that look a mess because they'll still use the 324 variants instead of creating a case-size appropriate caliber.

Please no. I hate Pilot style watches, the Nautilus is far from it. That would be awful if Pilot style was PP's sole sport offering.

[RussW]

Originally Posted by AK797

What's the something better in sports? Doubtful they have the chops. Subs, ROs and Nautilus' are here for a long time.

It's a pretty bold statement to say they could make something better. Aquanaut is a great watch, but (for me) not as good as the Nautilus. The Neptune doesn't do it for me either. This could be Thierry's greatest challenge.

The Nautilus has been around for 40 years, so not sure why it should be discontinued in the future, as long as production continues to be controlled.

[Hollister]

Originally Posted by RussW

It's a pretty bold statement to say they could make something better. Aquanaut is a great watch, but (for me) not as good as the Nautilus. The Neptune doesn't do it for me either. This could be Thierry's greatest challenge.

The Nautilus has been around for 40 years, so not sure why it should be discontinued in the future, as long as production continues to be controlled.

Just jack up the case to 42 mm, and the job's a good 'un. No more 5711.

[dmash]

Originally Posted by Hollister

Just jack up the case to 42 mm, and the job's a good 'un. No more 5711.

Stern's interview in 3 years:

'Bigger is better'

[RussW]

Originally Posted by Hollister

Just jack up the case to 42 mm, and the job's a good 'un. No more 5711.

Maybe the 5976 was testing the water for larger Nautiluses.

[Lordofrolex]

insane!!

[Magwitch]

And their website is filled with the word "deployment." Makes one wonder.

[Calatrava r]

When I started a thread asking if now is the right time to sell, I was seeing all these crazy high prices.

[Silver Bullet]

Originally Posted by Magwitch

And their website is filled with the word "deployment." Makes one wonder.

Lol. That drives me crazy about their website. They should know better!

[GB-man]

Originally Posted by Hollister

They'll be 50k in a couple of years, mark my words.

Ok I'll hold you to that.

Thierry saying he will undoubtedly discontinue the nautilus is just further proof of his gross incompetence. Introduce a new generation of nautilus of course but discontinue it? That would be ludicrous.

[PJ S]

Originally Posted by dmash

Please no. I hate Pilot style watches, the Nautilus is far from it. That would be awful if Pilot style was PP's sole sport offering.

Who said anything about sole? The Aquanaut will carry on as is.
In my estimation, Thierry hasn’t said this as a casual off-the-cuff remark, but a low-key heads-up, and without something already in prototype form, being fine-tuned in readiness for serial production.
To that end, I’d estimate the timeline for introduction being 2-3 years away, otherwise why even mention such a thing, and I don’t foresee the need for Patek to watch where the price of the Nautilus goes in light of this “announcement”, as an exercise to gauge where the replacement’s price could be set.
Moreover, if he were to vacate his mortal coil before making his decision, is his successor duty bound or locked in to going forth with it or would he be free to decide if the Nautilus line continues or even increases in output to meet demand, with other 324-based lines being reduced pro-rata?

It’s an odd remark to make, especially if the timeframe was 5 years away, at the earliest, since it’s not as if the Nautilus is struggling to sell and this is an attempt to boost sales of a flagging line.
I also wonder if he thinks Gerald Genta has had his fair share of time in the limelight, or is fed up with the constant association with Audemars Piguet’s Royal Oak – the lack of Genta’s penmanship on the Aquanaut hasn’t been an issue for it. So, with the right design, Patek could possibly forge a new icon, which makes TS either a very astute individual, or an absolute idiot that slew the golden goose – I’m free to change my mind with hindsight but, at present, I’d be more inclined to favour the latter as opposed to the former.
It’ll be very interesting to see what actually transpires.

[RussW]

Originally Posted by PJ S

Who said anything about sole – the Aquanaut will carry on as is.
In my estimation, Thierry hasn’t said this as a casual off-the-cuff remark, but a low-key heads-up, and without something already in prototype form, being fine-tuned in readiness for serial production.
To that end, I’d estimate the timeline for introduction being 2-3 years away, otherwise why even mention such a thing, and I don’t foresee the need for Patek to watch where the price of the Nautilus goes in light of this “announcement”, as an exercise to gauge where the replacement’s price could be set.
Moreover, if he were to vacate his mortal coil before making his decision, is his successor duty bound or locked in to going forth with it or would he be free to decide if the Nautilus line continues or even increases in output to meet demand, with other 324-based lines being reduced pro-rata?

It’s an odd remark to make, especially if the timeframe was 5 years away, at the earliest, since it’s not as if the Nautilus is struggling to sell and this is an attempt to boost sales of a flagging line.
I also wonder if he thinks Gerald Genta has had his fair share of time in the limelight, or is fed up with the constant association with Audemars Piguet’s Royal Oak – the lack of Genta’s penmanship on the Aquanaut hasn’t been an issue for it. So, with the right design, Patek could possibly forge a new icon, which makes TS either a very astute individual, or an absolute idiot that slew the golden goose.
It’ll be very interesting to see what actually transpires.

Like I said, Thierry's greatest challenge. I hope he has something fairly spectacular in mind. Even then, it takes time to build a new icon, so short term I'm sure he'd get a lot of criticism.

[GB-man]

Originally Posted by RussW

Like I said, Thierry's greatest challenge. I hope he has something fairly spectacular in mind. Even then, it takes time to build a new icon, so short term I'm sure he'd get a lot of criticism.

A lot of criticism is an understatement!

The industry is flailing and the global economy is overdue for a recession. Cutting your most in demand watch among collectors both young and old is laughable.

I would love for Patek to introduce new sports watches though...but alongside the nautilus not in place of it.

[jon_jon]

Originally Posted by Hollister

I don't own one, don't even want one, but when this watch goes out of production, it will rocket in value. It's already way over retail and they are still making them.

My prediction is that Patek will introduce a larger SS Nautilus and that will be the one everyone will be after. This will result in the 5711/1A prices falling below current list price. Pretty much every Patek watch is getting larger and the Nautilus will not be an exception. The current 5711/1A size is not that big by today's standard.

[enjoythemusic]

Smart seller, GB knows someone might jump for it. Its only money, think Saud.

[soundserious]

Originally Posted by GB-man

A lot of criticism is an understatement!

The industry is flailing and the global economy is overdue for a recession. Cutting your most in demand watch among collectors both young and old is laughable.

I would love for Patek to introduce new sports watches though...but alongside the nautilus not in place of it.

Are you fighting for the right to pay nearly $30,000 for a simple stainless steel mechanical wristwatch at retail price? The whole thing is outrageous, and the only thing that makes it tick is demand.

Cutting the "most in demand watch" and replacing it with one at double the price creates massive demand not just for the old one but also the new one.

I wouldn't sell mine for 37.5, no intelligent collector would. A flipper? Sure.

[AK797]

Originally Posted by RussW

It's a pretty bold statement to say they could make something better. Aquanaut is a great watch, but (for me) not as good as the Nautilus. The Neptune doesn't do it for me either. This could be Thierry's greatest challenge.

The Nautilus has been around for 40 years, so not sure why it should be discontinued in the future, as long as production continues to be controlled.

If they genuinely think they have a design that will be as popular but not very derivative of another sports model then I will be surprised. Hope this is not going to just become a Big Bang / ROO debate in the years to come. The new Pilot looks good but it is pretty basic, its main asset is its price and it is certainly no replacement for the Nautilus, so that's no future signifier. My best guess is Thierry is trying to take the pressure of the Nautilus by trying to signal that other models may be coming, and if sales go fantastically well he might then be able to disco the Naut, which does seem his personal mission, but I highly doubt this future will materialise for him.

[Hairdude1]

Geez