First Green-Dialed Patek Philippe Nautilus Appears at Auction - Still Sealed

[sgwatchguy]

Someone is trending…

[Greenp]

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[liljctl]

Originally Posted by Russell996

Clubhouse chat .

Should have sold it to Twitter for 4B.

[liljctl]

Originally Posted by HMHM

From what I 'heard from my AD', Patek's punishment to ADs whose watches are found on the grey market shortly after release is that they will not get any sports models for 3 years. I was told that when I bought my watch recently and they advised to keep the watch at least for 2 years until the warranty expires but no way am I selling the watch.

I sold a 5968A a few months after getting it. GMT actually contacted my AD to ask if I wasn't satisfied with it.

I said, that Aquanaut was just not for me. I think they took my explanation at face value.

[liljctl]

Originally Posted by HMHM

From what I 'heard from my AD', Patek's punishment to ADs whose watches are found on the grey market shortly after release is that they will not get any sports models for 3 years. I was told that when I bought my watch recently and they advised to keep the watch at least for 2 years until the warranty expires but no way am I selling the watch.

I sold a 5968A a few months after getting it. GMT actually contacted my AD to ask if I wasn't satisfied with it.

I said, that Aquanaut was just not for me. I think they took my explanation at face value.

[martinr]

Watch Collecting Lifestyle published an article today about this sale. Apparently the Spanish AD can’t be punished. They received the watch before they decided to permanently close or retire. The owners son is the one that sold it. That explains why it was sealed and why they don’t care about repercussions. And really TRF members, if it was your business and the opportunity came up to make a quick $450K tell me you wouldn’t do the same thing.

[fsprow]

Congratulations to the seller, buyer and Patek.

[Ichiran]

If the AD is not a going concern then the whole story is self-explanatory. And if I were to make a guess, there seems to be some bad blood between the dealership and Patek prior to this.

[stylinleems]

Just read the below, seems plausible. I don't agree with it but an easy way to make a lot of money.

https://www.watchcollectinglifestyle...-to-antiquorum

[ryehn]

Just pure insanity.. but that's what Patek is making the market be.

[martinr]

Originally Posted by Ichiran

If the AD is not a going concern then the whole story is self-explanatory. And if I were to make a guess, there seems to be some bad blood between the dealership and Patek prior to this.

If you were to make a guess? Based on what would you assume “bad blood”. There’s nothing in that article to suggest anything like bad blood. How about some facts Ichiran. Or even how about some reason for your innuendo that’s based on nothing. Waiting.

[Ichiran]

Originally Posted by martinr

If you were to make a guess? Based on what would you assume “bad blood”. There’s nothing in that article to suggest anything like bad blood. How about some facts Ichiran. Or even how about some reason for your innuendo that’s based on nothing. Waiting.

It's my guess and I don't feel like sharing.

[martinr]

Originally Posted by Ichiran

It's my guess and I don't feel like sharing.

Ok with me but why the thumbs down? You brought it up in the first place.

[GreenLantern]

I am surprised Patek would even send a Green 5711 to an AD that was about to shut down a week or two later.

[Ichiran]

Originally Posted by martinr

Ok with me but why the thumbs down? You brought it up in the first place.

If my friends here want to discuss it privately, I will share my thoughts outside of this thread.

[77T]

Originally Posted by Ichiran

If the AD is not a going concern then the whole story is self-explanatory. And if I were to make a guess, there seems to be some bad blood between the dealership and Patek prior to this.

I don’t know about that but the AD sent a thank you out saying they were retiring and closing that particular shop. IIRC it’s somewhere in Spain.


Sent from my iPhone using Tapatalk Pro

[GreenLantern]

Originally Posted by Ichiran

If the AD is not a going concern then the whole story is self-explanatory. And if I were to make a guess, there seems to be some bad blood between the dealership and Patek prior to this.

Feels that way. Curious that Patek would still allocate them a Green 5711, though?

I mean, my AD got one. Just one. And it went to someone who's spent 10x what I have, and who's also almost twice my age (and has been buying Patek from them for 3x my time). I don't blame them at all.

[Ichiran]

Originally Posted by GreenLantern

Feels that way. Curious that Patek would still allocate them a Green 5711, though?

If I assume this piece is supposed to go to a VIP of the AD, then it is plausible.

[GreenLantern]

Originally Posted by Ichiran

If I assume this piece is supposed to go to a VIP of the AD, then it is plausible.

Makes sense.

Except, the AD was going bust in a few weeks, and the VIP is related to the ownership of the AD?

Although perhaps they (Patek) didn't know the connection.

[liljctl]

Originally Posted by GreenLantern

Makes sense.

Except, the AD was going bust in a few weeks, and the VIP is related to the ownership of the AD?

Although perhaps they (Patek) didn't know the connection.

My AD tells me that Patek allocates to the ADs and they then decide.

When they tell you that GMT decides, it usually to get someone off their backs.

[HMHM]

Originally Posted by liljctl

My AD tells me that Patek allocates to the ADs and they then decide.

When they tell you that GMT decides, it usually to get someone off their backs.

TS has been pretty consistent about this - they distribute watches to AD, AD decides who gets the watch. Unless it’s a very very special rare watch like MR. I think he did mention it in one of the interviews.

[HMHM]

Originally Posted by liljctl

I sold a 5968A a few months after getting it. GMT actually contacted my AD to ask if I wasn't satisfied with it.

I said, that Aquanaut was just not for me. I think they took my explanation at face value.

How did they find out you sold it? I think it’s different for every individual. Of course if they know you well and you keep all your watches then a one-off sale might be forgiven. But if another guy flips it within 3 months with little history then that’s a different story I supposed.

[IBDOC]

Originally Posted by liljctl

My AD tells me that Patek allocates to the ADs and they then decide.

When they tell you that GMT decides, it usually to get someone off their backs.

Excuse the ignorance, but what does GMT stand for?

[liljctl]

Originally Posted by IBDOC

Excuse the ignorance, but what does GMT stand for?

I believe it's a wholly owned PP subsidiary based out of SG.

Sent from my SM-G985F using Tapatalk

[liljctl]

Originally Posted by HMHM

How did they find out you sold it? I think it’s different for every individual. Of course if they know you well and you keep all your watches then a one-off sale might be forgiven. But if another guy flips it within 3 months with little history then that’s a different story I supposed.

Sold it to a dealer in SG. Not entirely clear who they found out.

Unfortunately we buy a lot of watches unsighted nowadays.

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[cascavel]

Originally Posted by martinr

Watch Collecting Lifestyle published an article today about this sale. Apparently the Spanish AD can’t be punished. They received the watch before they decided to permanently close or retire. The owners son is the one that sold it. That explains why it was sealed and why they don’t care about repercussions. And really TRF members, if it was your business and the opportunity came up to make a quick $450K tell me you wouldn’t do the same thing.

I can absolutely assure you that in this situation I would spend as many sleepless nights as necessary to figure out a way to keep this watch for myself and, somehow, sell it and retain the money. If I owned an AD I would keep ALL of the 5711 green dials allocated to me locked up in my safe since, from my perspective, I see no upside in selling them to clients only further risks.
Additionally, I'm intrigued that people are incensed that someone would spend $490K on a $35K watch while others are aghast that someone would take the risk of selling their allocation simply to profit from it.
I wonder how many illegal drug deals net this kind of profit, and they certainly entail greater risk than being scolded by Patek.

[ts3]

The soon to be an ex-AD's son got a 5711 green while TS said his own son(s) can't get it.

[Ichiran]

Originally Posted by ts3

The soon to be an ex-AD's son got a 5711 green while TS said his own son(s) can't get it.

Meanwhile, some customers from Catalonia who just purchased 1 or 2 minute repeater(s) are wondering if that is supposedly his/her green 5711 at Antiquorum.

[Berettameier]

And Antiquorum will never ever get any hot pieces with real names in the papers. They made a big mistake in showing serial no. and owners name.

Would you trust them and give them your personal data to spread around the world?!

[HMHM]

Originally Posted by Berettameier

And Antiquorum will never ever get any hot pieces with real names in the papers. They made a big mistake in showing serial no. and owners name.

Would you trust them and give them your personal data to spread around the world?!

Was it a mistake? or on purpose?
I don't think it was a mistake. Antiquoroum has done previous auctions before and nothing was leaked. I can't helped but feel there is something going on deeper than we know.