First Patek Purchase Advice - 5270p

[Kittayos]

Nope. Directly from the AD but it's a backdoor selling and I can put my name on the paper. Today's price $123,000 USD and with a little negotiation perhaps $122,000 at best.

I bought mine for 145k last year and sold it in March for 136k but got a few bundles by the time I purchased so not a bad deal after all.

[conkers]

Originally Posted by Kittayos

Nope. Directly from the AD but it's a backdoor selling and I can put my name on the paper. Today's price $123,000 USD and with a little negotiation perhaps $122,000 at best.

I bought mine for 145k last year and sold it in March for 136k but got a few bundles by the time I purchased so not a bad deal after all.

Interesting thank you. And do you think the AD is offering this deal to other customers?

[APAP]

Originally Posted by Kittayos

Nope. Directly from the AD but it's a backdoor selling and I can put my name on the paper. Today's price $123,000 USD and with a little negotiation perhaps $122,000 at best.

I bought mine for 145k last year and sold it in March for 136k but got a few bundles by the time I purchased so not a bad deal after all.

Where can I get one at $122K? Can you please put me in touch with this AD?

[Russell996]

Originally Posted by Kittayos

I bought mine for 145k last year and sold it in March for 136k but got a few bundles by the time I purchased so not a bad deal after all.

I thought you paid $155k?

[ap1]

Originally Posted by dauster

holy moly PP really did drop the ball on this one... Like you said it should be an absolute grail watch and I can't believe if I were to buy this at my AD I would loose money immediately... I just found one for $145k on chrono24 which means there is probably some room for negotiations.

Also another thought - the more I read and learn on TRF the more I get the feel that going grey is the way to go. But I am really having trouble with the idea to spend between 20-50k (realistically for me) and just order something over the internet. Call me a romantic but I feel like spending that kind of money should be celebrated in a nice environment while talking and trying on different watches. Just ordering online like my toilet paper from Amazon makes me want the watches less and also I do like the idea of building a relationship with the company/ AD but feel like their actions don't tell me they really want new younger people to buy their product (I am 31). Nothing is available that I want, beautiful complications immediately drop in value etc.

You can get TP on amazon of a brand someone would actually want? Please help me crack the code

[conkers]

Originally Posted by Russell996

I thought you paid $155k?

Yes that is what I thought too from a previous discussion on this piece but it was several months back so maybe my brain was playing tricks with me.

[APAP]

Yes sir that’s what I found - it was 155K. Just have too much time on my hands right now

https://www.rolexforums.com/showpost...51&postcount=2

[Calatrava r]

I would think AD price for their best customers is about 160 plus tax. If you can get one brokered brand new with your name on the papers for 122, the Patek market is in big trouble.

[PPcollector]

I believe it was $155k after conversion to USD last year. Not sure what currency was used but seems like $145k is current for USD according to Kittayos. Maybe that’s where the discrepancy is from?

[Russell996]

Originally Posted by PPcollector

I believe it was $155k after conversion to USD last year. Not sure what currency was used but seems like $145k is current for USD according to Kittayos. Maybe that’s where the discrepancy is from?

Man maths

[Kittayos]

It was 155K when I paid using the exchange rate of USD at that time. Now USD was up 7% against my currency so it’s the right amount, 145k. Yes, I can hook anyone with that but I choose not to since it’s too risky. It’s a country with the largest economy in Europe.

[Kittayos]

Originally Posted by Calatrava r

I would think AD price for their best customers is about 160 plus tax. If you can get one brokered brand new with your name on the papers for 122, the Patek market is in big trouble.

I swear and this price according to experts is likely to fall a bit further. Can even have a date stamp in May or even June since all flights and airports are down at the moment. So be careful at what you are paying and buying now. We stamp the date on the day we pick up.

[Russell996]

Originally Posted by Kittayos

It was 155K when I paid using the exchange rate of USD at that time. Now USD was up 7% against my currency so it’s the right amount, 145k. Yes, I can hook anyone with that but I choose not to since it’s too risky. It’s a country with the largest economy in Europe.

I always use the exchange rate from 1920 when telling my wife the price of watches I’ve just purchased. $5=£1.

[dauster]

Originally Posted by Russell996

I always use the exchange rate from 1920 when telling my wife the price of watches I’ve just purchased. $5=£1.

[conkers]

Originally Posted by Kittayos

It was 155K when I paid using the exchange rate of USD at that time. Now USD was up 7% against my currency so it’s the right amount, 145k. Yes, I can hook anyone with that but I choose not to since it’s too risky. It’s a country with the largest economy in Europe.

So you paid 155 then not 145.

And 122k is apparently achievable but only to you so that is not really the market price. For the rest of us the best price seems to be 145k from the aforementioned seller which is only a 7 per cent discount off Swiss tax free price.

[Kittayos]

Not necessary. Anyone can get that price I'm pretty sure. You just need to find the right AD that's willing to work with you. Even in my country, grey market is only selling for 131k (today's exchange rate) which is the ceiling price now.

Many ADs sell a majority of their inventory to grey market and the guy who buys the whole chunk will flip for 0-10% on average in profit taking (excluding nautilus and aquanaut). It ranges from 4910/1a to minute repeater ones. 10% profit for almost a milion dollar piece is pretty sweet. 0% profit is basically doing an AD's favor. On sport models, they sell with premium but still slightly cheaper so you have a little room for profit. The interesting point is the price he gets on most pieces from these ADs is rock bottom. There's also a tax issue and shipment. I will not go into details. Also a credit on term payment. Pay later. Some AD is so well known that they even have a branch in the US. But of course, you can't do this in the US. I wish I could say a lot more but this is fairly enough. Nasty business indeed.

[Humble michael]

Man I can’t imagine that piece selling for 122 k USD , dealers cost is a little over 120. Just don’t see that happening as that piece is very desirable imo.

[Kittayos]

Not anymore. AD cost is lower than that. I have the figure. If AD is willing to let go at this price, this implies you something about it.

[Bearxj86]

I value all my purchases in hyper-inflationary currency. Under mark to market accounting they are all worth nothing today.... or maybe I just lost all my money? :O

[Bearxj86]

Originally Posted by Kittayos

Nope. Directly from the AD but it's a backdoor selling and I can put my name on the paper. Today's price $123,000 USD and with a little negotiation perhaps $122,000 at best.

I bought mine for 145k last year and sold it in March for 136k but got a few bundles by the time I purchased so not a bad deal after all.

Personally I think your skin color and that dial color are too similar. Not the best look - just me.

As much as I love the salmon color, it won't go with my Azn skin tone and good looks (i kid i kid)

[conkers]

Thank you for the extra information Kittayos. The cheapest I found the last time I was in BKK was 145 from a grey in MBK but that was 9 months ago. I assume you are a local so can push them much harder than a Farang can!

[ts3]

Originally Posted by Kittayos

Not necessary. Anyone can get that price I'm pretty sure. You just need to find the right AD that's willing to work with you. Even in my country, grey market is only selling for 131k (today's exchange rate) which is the ceiling price now.

Many ADs sell a majority of their inventory to grey market and the guy who buys the whole chunk will flip for 0-10% on average in profit taking (excluding nautilus and aquanaut). It ranges from 4910/1a to minute repeater ones. 10% profit for almost a milion dollar piece is pretty sweet. 0% profit is basically doing an AD's favor. On sport models, they sell with premium but still slightly cheaper so you have a little room for profit. The interesting point is the price he gets on most pieces from these ADs is rock bottom. There's also a tax issue and shipment. I will not go into details. Also a credit on term payment. Pay later. Some AD is so well known that they even have a branch in the US. But of course, you can't do this in the US. I wish I could say a lot more but this is fairly enough. Nasty business indeed.

Sounds very nasty. I assume the well known one w the branch in the US is from Europe's largest economy as per your earlier post. Quite a few of their branches lost their AD status recently / last year.

[Kittayos]

Sometimes Patek kindly asks them to close a small one and promises to deliver the same amount of watches they normally receive in 2 shops. It's not entirely losing an AD status under this case. It facilitates both parties.

[dauster]

Originally Posted by Kittayos

Sometimes Patek kindly asks them to close a small one and promises to deliver the same amount of watches they normally receive in 2 shops. It's not entirely losing an AD status under this case. It facilitates both parties.

Love it. Dropping the inside knowledge... keep it coming good sir!

[PPFANBOY]

How is the market for these now? Pretty keen on this one...anyone in the loop?

[jamestucker]

Not a fan of pink dial watches

[mzcloud]

Originally Posted by APAP

Yes sir that’s what I found - it was 155K. Just have too much time on my hands right now

https://www.rolexforums.com/showpost...51&postcount=2

I am not sure if you can get any discount in Canada. Just not a lot of supply here

[watchucallit]

I do not think that is what he is claiming. I think he bought his own for 145K and sold it for a few thousand less than that after 6 months.

I think he said he can now buy them as a grey dealer for 123K (not sure the source though) as the price due to supply/demand has fallen. Would be interested to know how he gets his grey pieces :)

Originally Posted by conkers

Thank you for the post Kittayos. Are you saying that you originally bought yours at 145 but it is now available for 123 from Europe from a grey dealer with someone else’s name on the papers?

[Oneallen]

Originally Posted by mzcloud

I am not sure if you can get any discount in Canada. Just not a lot of supply here

Absolutely no discount and very limited supply.

[Kittayos]

Here's one thing I can share through my experience from some ADs in Europe. The shop owner has 3 clusters of profit - 15%, 25% and 35%.

Those quartz movement pieces tend to be on a high side of profit taking, whereas grand complication is 25% in most cases except 5496, 5140, 5940 so on and so forth (most unwanted models...etc). Minute repeater is 15% of course. I will leave you to figure the number out on nautilus and aquanaut.

The system we do is this. If an AD wants to move quicker on unsold pieces (with little incentives later for us), they will liquidate at cost. Retail price minus initial shipment cost charged by Patek (zero profit) and again minus full VAT which is 19% (x amount ÷ 1.19)= final price. It's a win-win situation.

In other words, 40% off basically. AD gets the money to use as a cash flow and we get the watch, though AD sometimes do 20% discount plus full VAT (they take 5% profit). Can think of 5370p (another hard to sell piece).

For 5270p, when it first came out, expect little discount to zero except full 19% VAT deduction. As time goes by, the piece applies 10%, 15% and xx% off. This implies about its popularity and supply in the market. I have zero regret selling it. I can buy it back at around 122k with my name on it but I won't. I don't really see a much future value of this piece honestly. Patek should have discontinued it.

As a side note, when any AD sells a large number of grand complication pieces, they can automatically ask for more allocation of hot model pieces (rare handcraft, 5711/1p-xx, out of catalogue stuff...etc).