Patek price increase and store closures

[srvrf]

From one of my SAs it sounds like they're dropping 16 ADs this year. That would take 53 down to 37. Nothing on the website yet but that's disappointing for those of us who don't happen to live near a surviving AD.

[Rickkk]

Originally Posted by rolexandlange

I see so many hot AP's flipped for immediate profit. It is as if their control of the distribution process has actually made the right watches reaching the right people even less likely. 15202s and 16202s go to the best customers, and the best customers are flippers, which is sad for the brand that they actually don't know who their real customers are.

Don’t they get blocked/barred/blacklisted when someone scans the card?

[LJubel328]

Originally Posted by GreenLantern

That is seriously rough.

What do we do in these situations? I mean, the years and years of building relationships...

Start over—unfortunately that’s what I’ve had to do. It isn’t been pleasant.


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[Dayhvac]

Go grey, probably cheaper in the long run as opposed to starting over. That's what I did. Got tired of playing new AD's games

[uniqueMR]

We are going to about 30 ADs in states.

[dchang81]

have the dealers losing AD status been notified already?

[carnivor32]

Was just at bucherer Time Machine and no one mentioned losing patek

[srvrf]

Originally Posted by dchang81

have the dealers losing AD status been notified already?

Yes from what I can tell two in the midwest have already been told

[VogelPhoenix]

Originally Posted by Rickkk

Don’t they get blocked/barred/blacklisted when someone scans the card?

That's why people ask for "safe sales" with the buyer promising not to re-register the watch.

[v8plus4]

Originally Posted by LSU-MOOSE

I heard from a friend that my AD lost PP. I texted my SA and he confirmed that they were dropped.

This sucks.

Which AD is this?

[Will_NL]

Originally Posted by dchang81

have the dealers losing AD status been notified already?

Yes, at least one in The Netherlands has been notified

[Rickkk]

Originally Posted by VogelPhoenix

That's why people ask for "safe sales" with the buyer promising not to re-register the watch.

Haha first I've heard of this

[WatchEater666]

Originally Posted by Dayhvac

Go grey, probably cheaper in the long run as opposed to starting over. That's what I did. Got tired of playing new AD's games

Yeah and almost all PP lose value except the steel sports watches and very very limited pieces. So no real point in buying new...

[zeuloa]

Originally Posted by carnivor32

Was just at bucherer Time Machine and no one mentioned losing patek

Bucherer has a long relationship with PP, expanding more than 100 years if I’m not mistaken. I think this one would be one of the last ones to go, even though some of the locations could be asked not to sell PP I guess.

Regarding building new relationships with ADs, I met a collector the other day (at Bucherer just so happens), and he mentioned that ADs in France and Switzerland specifically tend to be much easier to deal with and don’t play games such as “buy this and this before this…”. Not sure how accurate his statement might be, anyone have this experience?

[zeuloa]

Originally Posted by bob101

Same happened to me with Lange and Sincere. Relationship lost once they went boutique only. Last time I went in their boutique they told me had to bundle a few watches
to be considered for a chronograph. You’d think they could track the watches you’ve bought via AD previously but no.
I just gave up with Lange at that point, put me off the brand completely.

Did you try contacting Lange directly? If you had a significant history with the brand I would definitely do this after being told that at one of their boutiques. Might not take you anywhere, but who know it might just get you that chronograph.

[ts3]

Originally Posted by zeuloa

Bucherer has a long relationship with PP, expanding more than 100 years if I’m not mistaken. I think this one would be one of the last ones to go, even though some of the locations could be asked not to sell PP I guess.

Regarding building new relationships with ADs, I met a collector the other day (at Bucherer just so happens), and he mentioned that ADs in France and Switzerland specifically tend to be much easier to deal with and don’t play games such as “buy this and this before this…”. Not sure how accurate his statement might be, anyone have this experience?

Well, no experience but there are no Patek ADs in France. Just the Salon at Place Vendome.

[dauster]

Originally Posted by ts3

Well, no experience but there are no Patek ADs in France. Just the Salon at Place Vendome.

Because Geneva is close enough and Patek clientele is supposed to have enough money for a PJ inside of Europe- just kidding I have still no idea why that is. Germany has so many ADs so has the UK. France with only one Salon doesn’t make any sense to me


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[Vasco]

Originally Posted by dauster

Because Geneva is close enough and Patek clientele is supposed to have enough money for a PJ inside of Europe- just kidding I have still no idea why that is. Germany has so many ADs so has the UK. France with only one Salon doesn’t make any sense to me


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What I understood from the Wempe interview is that nobody seemed to really be motivated to create a nice Patek AD in Paris at the level Patek wanted in the late 1980's/early1990's, hence they decided they had to go by themsleves. It seems they didn't really plan to build a Salon there in the first place (which doesn't surprise me).

[dauster]

Originally Posted by Vasco

What I understood from the Wempe interview is that nobody seemed to really be motivated to create a nice Patek AD in Paris at the level Patek wanted in the late 1980's/early1990's, hence they decided they had to go by themsleves. It seems they didn't really plan to build a Salon there in the first place (which doesn't surprise me).

sure I get it but how about an AD or two in the south of france like Cannes ? Seems like there is enough rich clientele there

[Vasco]

Originally Posted by dauster

sure I get it but how about an AD or two in the south of france like Cannes ? Seems like there is enough rich clientele there

I totally agree I found it odd too. There was one somewhere in the south of France a few years back if I recall correctly. I don't know if they lost the brand or if they closed.

[uniqueMR]

Originally Posted by uniqueMR

We are going to about 30 ADs in states.

We are down to 46 ADs as of April 2023.
Patek just updated their ADs on their website…

[PVR]

For the last 10 years there have been countless threads about not buying grey market, establishing a relationship with your AD, don't feed into the above dealer markups, etc..

Now, all the people who spent hundreds of thousands of dollars with their local AD to establish a long standing relationship are F'ed.

Find the watch you want from any seller, haggle like hell and own the watch you want when you want it. The waiting game and BS these AD's have been putting us through for years is about to come to an end.

I'm happy about it.

[jamestucker]

Originally Posted by uniqueMR

We are down to 46 ADs as of April 2023.
Patek just updated their ADs on their website…

37 ADs in the UK, way too many compared to the USA

[Watchasizer]

I'm personally becoming very turned off and know several people that are upset by Pateks closing of existing ADs without fair warning. They have us create relationships by spending a lot of money and then close without warning. They should assist existing customers on finding a new AD or they will just continue to lose very good customers that have been waiting a long time for pieces just to be left empty handed. How do we know if the next AD we create a relationship will be just shut down out of nowhere ? Bad business practice by Patek.

[srvrf]

Originally Posted by Watchasizer

I'm personally becoming very turned off and know several people that are upset by Pateks closing of existing ADs without fair warning. They have us create relationships by spending a lot of money and then close without warning. They should assist existing customers on finding a new AD or they will just continue to lose very good customers that have been waiting a long time for pieces just to be left empty handed. How do we know if the next AD we create a relationship will be just shut down out of nowhere ? Bad business practice by Patek.

Absolutely, unless you already have a relationship with an AD in NY, Miami, Chicago, LA or Vegas do you feel comfortable trying to re-establish a relationship that will probably be gone in the next couple of years?

[WatchEater666]

Originally Posted by PVR

For the last 10 years there have been countless threads about not buying grey market, establishing a relationship with your AD, don't feed into the above dealer markups, etc..

Now, all the people who spent hundreds of thousands of dollars with their local AD to establish a long standing relationship are F'ed.

Find the watch you want from any seller, haggle like hell and own the watch you want when you want it. The waiting game and BS these AD's have been putting us through for years is about to come to an end.

I'm happy about it.

100%. Some people on here are delusional & cucked lol