ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

clpski · 16 January 2015, 12:16 PM

I have been saving for my first Patek, and expect to buy around April. So reading the threads today about price increases caused me to do more research, and I stumbled onto this interview with Thierry Stern. He discloses annual production numbers, talks about AD networks and new markets. If it is a repost, my apologies.

http://luxurysociety.com/articles/20...patek-philippe

GB-man · 16 January 2015, 04:01 PM

Good read

My biggest concern is mr stern saying his biggest fear is independence. The day patek falls will be hard to swallow...

Hairdude1 · 16 January 2015, 04:33 PM

Thanks!!

RussW · 16 January 2015, 07:39 PM

Thanks for sharing, very interesting. It would be very sad if patek lost its independence - I really care about that, it's one reason why I would always buy patek above lange. I think at the 175 celebrations Thierry commented they would be independent for at least the next 25 years.

Good luck with your first patek. What are you looking to get?

Racerdj · 16 January 2015, 09:54 PM

Thanks for the link and good luck with your first Patek!

clpski · 16 January 2015, 09:59 PM

It was the Aquanaut that first drew me to Patek, so I visited my local AD thinking that was my choice. However; he had a 5205G, and I loved it. So my debate is do I buy the piece that drew me to the brand, or sell off a Milgaus, GMT2C, Panerai 287 and a JLC Rouge, plus cash and get the 5205G. I am not against consolidating my collection and the 5205G definitely speaks to me, it gave me a new appreciation for the rose gold and black combination. I love the Aquanaut as well. Plus, I feel like the Aquanaut is more versatile. I want to make the right decision, so I have given myself some time.

GB-man · 16 January 2015, 11:06 PM

Quote:

Originally Posted by clpski

It was the Aquanaut that first drew me to Patek, so I visited my local AD thinking that was my choice. However; he had a 5205G, and I loved it. So my debate is do I buy the piece that drew me to the brand, or sell off a Milgaus, GMT2C, Panerai 287 and a JLC Rouge, plus cash and get the 5205G. I am not against consolidating my collection and the 5205G definitely speaks to me, it gave me a new appreciation for the rose gold and black combination. I love the Aquanaut as well. Plus, I feel like the Aquanaut is more versatile. I want to make the right decision, so I have given myself some time.

Smart move chris. Hope you get one soon.

Snow-Dweller · 17 January 2015, 01:55 AM

Thanks for that

Liger187 · 17 January 2015, 04:11 AM

I love this part where he says

"What is also very important in luxury today is the service, especially aftersales service. There is no way that you can say you’re a luxury brand if the aftersales service is not there. It has to be efficient, it really has to be at the highest level.

This is something I do not see quite often, to be frank. Brands claim they are luxury, but what happens when the product is broken? What happens when I need help? Nobody is there. This is where you start to define what constitutes luxury."

I hope that with their announcement of the investment of 450 million into expanding their facility some of it will go into expanding their servicing so that their service times can drop below 6 months.

ispep · 18 January 2015, 03:06 AM

Thank you for sharing the article. It is a great read. Is it just me or is it really difficult to read the article without Mr. Sterns voice in my head?

Tony-GB · 18 January 2015, 08:08 PM

Quote:

Originally Posted by ispep

Is it just me or is it really difficult to read the article without Mr. Sterns voice in my head?

Me too!

Excellent article. Thanks for sharing.

LostinNihon · 18 January 2015, 10:34 PM

This was an excellent read. Quite a contrast, really, to the hub-bub on Hodinkee between John Mayer and IWC. Given that dialogue, this line from Mr. Stern caught my attention:

"But secondly, when you buy a Patek Philippe, you are buying also the spirit of a Swiss company with a specific DNA. I’m not willing to adapt to watch, to be frank. It is not really my task to adapt my brand or my products."

I'd have to say that PP is in very good hands.

RussW · 18 January 2015, 11:13 PM

Quote:

Originally Posted by LostinNihon

This was an excellent read. Quite a contrast, really, to the hub-bub on Hodinkee between John Mayer and IWC. Given that dialogue, this line from Mr. Stern caught my attention:

"But secondly, when you buy a Patek Philippe, you are buying also the spirit of a Swiss company with a specific DNA. I’m not willing to adapt to watch, to be frank. It is not really my task to adapt my brand or my products."

I'd have to say that PP is in very good hands.

You know, I thought exactly the same thing. I hope patek never becomes a "lifestyle brand".

HL65 · 18 January 2015, 11:47 PM

Thanks for sharing excellent interview.

rolexington · 19 January 2015, 09:05 AM

Really surprised that more than 40% of PP watches go to the Middle East, I knew it was a big market, didn't realize it was that big.

Anyone know how prices are there?

otisc · 19 January 2015, 11:20 AM

In full context, he is talking about the day he has to go to a bank for a loan will be his loss of independence.

But Patek just announced plans to invest CHF 450m into new facilities. This is a well run company with cash on hand.

And I can't imagine them ever having to lose their independence. I am sure there will be ups and downs, but how many pieces from their vast museum would they have to auction to get right?

otisc · 19 January 2015, 11:21 AM

Quote:

Originally Posted by rolexington

Really surprised that more than 40% of PP watches go to the Middle East, I knew it was a big market, didn't realize it was that big.

Anyone know how prices are there?

The big market in the Middle East is for pocket watches, which are usually some of Patek's most complicated and expensive.

16 January 2015, 12:16 PM	#1
clpski Banned Join Date: Mar 2010 Location: United States Posts: 157	Interesting Interview with Thierry Stern I have been saving for my first Patek, and expect to buy around April. So reading the threads today about price increases caused me to do more research, and I stumbled onto this interview with Thierry Stern. He discloses annual production numbers, talks about AD networks and new markets. If it is a repost, my apologies. http://luxurysociety.com/articles/20...patek-philippe

16 January 2015, 04:33 PM	#3
Hairdude1 "TRF" Member Join Date: Apr 2012 Real Name: Alex Location: Chicago Watch: AP,PP, Rolex Posts: 37,156	Thanks!! __________________ Instagram: @Hairdude Watches in Collection 5070R, 5522A, 214270 MK1, 228238 16750, 26401, 5711, 116718, 116710LN, 116300, 16710"Coke", 372, 15300, 15703 (All Flipped) Official Member "Perpetual 30" Las Vegas GTG 2016 Official Member "WIS-CON" Las Vegas International GTG 2017 Official Member 'WIS-CON' Las Vegas Int'l GTG 2018

16 January 2015, 09:54 PM	#5
Racerdj 2024 Pledge Member Join Date: Apr 2013 Location: Indianapolis Watch: Patek-Philippe Posts: 16,832	Thanks for the link and good luck with your first Patek! __________________ Rolex and Patek Philippe

17 January 2015, 01:55 AM	#8
Snow-Dweller 2024 Pledge Member Join Date: Mar 2014 Real Name: Clive Location: The Alps Watch: collections change Posts: 6,281	Thanks for that __________________ . The path from WIShood to WISdom can have many turnings... ——————————————————————————————————— . 16803. 16570. 18038. 114300. BB58. GMW-B5000D.

18 January 2015, 11:47 PM	#14
HL65 TRF Moderator & 2024 DATE-JUST41 Patron Join Date: Dec 2007 Real Name: Ken Location: SW Florida Watch: One on my wrist. Posts: 63,487	Thanks for sharing excellent interview. __________________ *SPEM SUCCESSUS ALIT*

16 January 2015, 04:01 PM	#2
GB-man 2024 Pledge Member Join Date: Nov 2012 Location: USA Watch: addiction issues Posts: 36,936	Good read My biggest concern is mr stern saying his biggest fear is independence. The day patek falls will be hard to swallow...

16 January 2015, 07:39 PM	#4
RussW "TRF" Member Join Date: Apr 2012 Location: England Watch: 5990 Posts: 3,341	Thanks for sharing, very interesting. It would be very sad if patek lost its independence - I really care about that, it's one reason why I would always buy patek above lange. I think at the 175 celebrations Thierry commented they would be independent for at least the next 25 years. Good luck with your first patek. What are you looking to get?

16 January 2015, 09:59 PM	#6
clpski Banned Join Date: Mar 2010 Location: United States Posts: 157	It was the Aquanaut that first drew me to Patek, so I visited my local AD thinking that was my choice. However; he had a 5205G, and I loved it. So my debate is do I buy the piece that drew me to the brand, or sell off a Milgaus, GMT2C, Panerai 287 and a JLC Rouge, plus cash and get the 5205G. I am not against consolidating my collection and the 5205G definitely speaks to me, it gave me a new appreciation for the rose gold and black combination. I love the Aquanaut as well. Plus, I feel like the Aquanaut is more versatile. I want to make the right decision, so I have given myself some time.

17 January 2015, 04:11 AM	#9
Liger187 "TRF" Member Join Date: Jul 2012 Location: Los Angeles Posts: 52	I love this part where he says "What is also very important in luxury today is the service, especially aftersales service. There is no way that you can say you’re a luxury brand if the aftersales service is not there. It has to be efficient, it really has to be at the highest level. This is something I do not see quite often, to be frank. Brands claim they are luxury, but what happens when the product is broken? What happens when I need help? Nobody is there. This is where you start to define what constitutes luxury." I hope that with their announcement of the investment of 450 million into expanding their facility some of it will go into expanding their servicing so that their service times can drop below 6 months.

18 January 2015, 03:06 AM	#10
ispep "TRF" Member Join Date: Feb 2007 Location: at home Posts: 351	Thank you for sharing the article. It is a great read. Is it just me or is it really difficult to read the article without Mr. Sterns voice in my head?

18 January 2015, 10:34 PM	#12
LostinNihon "TRF" Member Join Date: Dec 2014 Real Name: John Location: Encinitas, CA Watch: 5712/5164/SBGW253/ Posts: 460	This was an excellent read. Quite a contrast, really, to the hub-bub on Hodinkee between John Mayer and IWC. Given that dialogue, this line from Mr. Stern caught my attention: "But secondly, when you buy a Patek Philippe, you are buying also the spirit of a Swiss company with a specific DNA. I’m not willing to adapt to watch, to be frank. It is not really my task to adapt my brand or my products." I'd have to say that PP is in very good hands.

19 January 2015, 09:05 AM	#15
rolexington "TRF" Member Join Date: May 2012 Real Name: Bobby Location: Newport Beach, CA Watch: the sun Posts: 124	Really surprised that more than 40% of PP watches go to the Middle East, I knew it was a big market, didn't realize it was that big. Anyone know how prices are there?

19 January 2015, 11:20 AM	#16
otisc "TRF" Member Join Date: Oct 2014 Location: Austin, TX Watch: 116610LV HULK Posts: 637	In full context, he is talking about the day he has to go to a bank for a loan will be his loss of independence. But Patek just announced plans to invest CHF 450m into new facilities. This is a well run company with cash on hand. And I can't imagine them ever having to lose their independence. I am sure there will be ups and downs, but how many pieces from their vast museum would they have to auction to get right?

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)