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Mark, I agree with you...
May 31, 2015,08:35 AM
Mark, I agree with you and I am sure Patek has done a lot of research to ensure that the prices of these special pieces are as 'correct' as possible.
Sham
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Patek Philippe Grand Exhibition First photos of special editions
By: Miranda : May 27th, 2015-07:31
Dear Patekaholics, The first thing I have to say is....if you can....you must go to the Grand exhibition, it was unbelievable, pieces from the museum you would have to go to the museum to see, rare art crafts, watchmakers, the Grand Chime...where do I beg...
Looking closer
By: dr.kol : May 31st, 2015-12:57
your watch seems to have painted numerals. Right? And the new one applied Breguet numerals. So they are not the same. Best, Kari
Let's hope for the best
By: dr.kol : June 1st, 2015-02:51
The numbers can be either stampped or hand painted. Best, Kari
Thank you Imran
By: Bruno.M1 : May 27th, 2015-09:17
Wish I was in London :-)
Thanks Imran
By: sham1 : May 27th, 2015-11:34
for the excellent post and photos! Any idea about pricing for these special edition watches? Thank you. Sham
that's a decision I do not understand
By: Bruno.M1 : May 28th, 2015-09:52
I spoke 2 or 3 guys who were in London and indeed, it seems like they made 5 or so extra 5070 and 5970 ( or was it 3970?) I honestly don't understand and even don't like this. a discontinued reference should stay discontinued. No reason is imo good enough...
The information is just partly wrong...
By: dr.kol : May 28th, 2015-10:24
I spoke with one of Patek's executives and they had, i.e. 5070P a couple of pieces left in Geneva. Those were released now. But the prices.... I need to recover. Best, Kari
I am no§t §a spoke person of Patek.
By: dr.kol : May 28th, 2015-14:37
I am just telling what I was told. And that does not include a statement if I believe it or not. Best, Kari
To be exact:
By: dr.kol : May 28th, 2015-14:39
5070P GBP 111,120 or € 152,330. Best, Kari
I made the question to a Patek executive
By: dr.kol : May 28th, 2015-14:54
who surely knows about 5070P. And he replied that they had some old production watches left. I do not know if the answer is right or wrong. Best, Kari
Ok thank you
By: Mark in Paris : May 28th, 2015-14:55
It can still be 5070P but with a different dial. We'll have more details in the next few days I imagine. Cheers, Mark
Ooor...
By: Fricks : May 30th, 2015-06:56
... you might get a 2nd chance of getting finally the 5070P at list price? :))
They probably said "Why not?"
By: 2muchtimeonmyhands : May 28th, 2015-10:36
All the references being reissued have appreciated astronomically, and as most are sold already, why shouldn't Patek cash-in on this? If I am right in thinking there are 6 reissued models, that's 30 pieces. Each of which will probably sell for many times ...
First, nothing is confirmed
By: Mark in Paris : May 28th, 2015-11:39
and to answer your question, I think that they can "cah-in" as you said but it would be with a high cost on the brands image. The image of Patek Philippe is built on steadyness, honesty and reliability of his history and the decision they took since the b...
Let's make the maths at least partly correct...
By: dr.kol : May 30th, 2015-16:54
There are 15 references meaning totally 75 watches. The average price is £ 92,328 meaning around £ 76,940 net of VAT. The margin of the AD is 50% so net for Patek per watch is £ 38,470. This gives us a total turnover of £ 2,885,000 but that's not the prof...
It was just an estimate
By: 2muchtimeonmyhands : May 30th, 2015-19:33
I didn't know the prices when I posted that and I have to say, the list prices were far less than I expected. I was also unaware at the time that the Lemania movements were old unused stock. Given this information, it certainly doesn't seem like Patek hav...
Naturally hey also make money.
By: dr.kol : May 31st, 2015-00:11
But that's the intention of each and every corporation. I could say that with our tankers I from my small part try to secure the energy supply of all countries. I could also say straight that I acquire tankers in order to make more money i.e. to buy overl...
They are definitely on display in London
By: 2muchtimeonmyhands : May 28th, 2015-13:10
Patekaholic and Patekcollector have pictures on Instagram. The description mentions 5 pieces for sale for each one. I don't know if they really are for sale or just for display but they seem to fairly reputable members of other forums so I don't know why ...
There is a huge difference...
By: Mark in Paris : May 28th, 2015-14:49
...between unveilling 5 watches from an existing model (and not reference) and layout and making a kind of anniversary model with a different layout (dial color etc...). Here it seems the watches are new and not the same reference than the 2000's ones. Th...
I took a photo of the price list.
By: dr.kol : May 28th, 2015-14:51
It's late in London and I have an early flight but here they come all prices in GBP: 3940G-029 66,670 3940R-027 66,670 3940EP-046 162,970 3970ER- 028 133,340 5050J-019 74,080 5059G-018 81,490 5059J-017 74,080 5059P-018 92,500 5059R-017 81,490 5070G-014 88...
That's one kind of logic...
By: dr.kol : May 31st, 2015-00:18
But I still can't see what has it to do with 5170. When making a special version of 3940 with 240Q movement and 5140 is having the same movement, can we draw a conclusion that Patek values more the 240Q movements used in 3940 more than the ones used in 51...
Do you know one who does ?
By: Mark in Paris : May 31st, 2015-08:32
In the > 10 K, I don't. There is much more in a watch than its intrinsic value. Sometimes it is justified (and sometimes not).
Like stated earlier, I'm not a spokesperson of Patek
By: dr.kol : May 31st, 2015-08:57
But saying that they would operate in a different way than any other commercial manufacturer would be hypocrisy. I would like to buy 5070P but there are two problems. First of all, I don't think that Patek would allocate one for me. Secondly, I would neve...
Good choice!
By: Fricks : June 2nd, 2015-04:39
About the targa 4gts! The last naturally aspirated carrera, in targa even better. About the price of the 5070P, 150k might seem a lot, but on the other hand, the price might go even further up. As much as i love the porsche and i would prefer it to the 50...
For me it was easy.
By: dr.kol : June 2nd, 2015-05:06
I got a very good offer of a new GTS and I took really nearly all equipment plus a lot of leather & cargo. In this case the Targa 4 GTS is quite exactly €2 k less than 5070. I have a couple of watches but only on Porsche. So it was nicer to get a fun ...
"Values" of watches is a big debate...
By: Fricks : June 2nd, 2015-06:26
... Beside the general increase in the whole watch industry with more and more expensive models. There is on top of that some crazy prices in auctions where its clear there is some manipulations behind the curtain. At some point, it stops to make sense, p...
Totally metallic black
By: dr.kol : June 2nd, 2015-08:42
and inside black leather, carbon, red stitching and red seat belts. The point for me is that how can such a 1,500 kilos of very high engineering plus a lot of leather cost less than a watch with common, although well finnished movement. It's totally insan...
well, explain me why
By: Bruno.M1 : June 2nd, 2015-09:33
some paintings are sold for millions, ten million and a hundred million It's canvas , paint and a few hours work. There are pens, tableware, audio, everything you want …. that cost more than a Porsche Why the hell would somebody pay hundreds of thousands ...
Just because the mankind is crazy.
By: dr.kol : June 2nd, 2015-09:47
You listed a couple of examples and there are more in all fields of human life. Just have a look at international politics. I am a dedicated fan of Patek Philippe. However, I have huge difficulties to understand their pricing of the "Special Edition" 5070...
What is art
By: Time to watch : June 3rd, 2015-06:53
To one person may not be considered art by another, but trying to determine what is art and what isn't is purely subjective and up to the viewer. I'll enjoy my art, and if someone doesn't agree with me that's fine. It's not art because someone else says i...
true true true....
By: Fricks : June 2nd, 2015-09:58
... i believe it will burst too, about modern Patek, i think it already started to slow down. About the porsche, great choice of color, it enhance the silver bridge specific to the targa.
Mark,
By: dr.kol : June 2nd, 2015-14:11
very often I agree with you but not now. The prices of the highest end watches have nothing to do with reality. This means that there's a heck of a bubble in the pricing. At the moment the high end watches are fashionable luxury items but if they go out o...
Kari, we don't seem to be of different opinion on that matter.
By: Mark in Paris : June 2nd, 2015-14:23
I completly agree on what you wrote. I don't know if it will happen but there is a risk indeed. However, I won't buy at any price and when the bubbule bursts I may be there but I don't think it will kill the brand for all that. What you cal "the investors...
Okay, we mostly agree.
By: dr.kol : June 2nd, 2015-14:32
My point is that the Brands commit a suicide by pricing some of their products above sensible levels. And this development is fast escalating. Best, Kari
Nicolas has a point here...
By: Fricks : May 31st, 2015-05:55
... We are not talking about 2nd market, but official list price, it makes a big difference. Patek shouldn't price this series based on what 2nd market prices them. They shouldn't be released in the 1st place, but as they are, they should be priced accord...
I fully disagree
By: Mark in Paris : May 31st, 2015-08:29
especially when you say it has to be sold the price from the last official price back then Fricks. The material cost have changed, the machines, tools, settings have changed, the CHF had changed, the market and the prices on this market have very signific...
Mark, I agree with you...
By: sham1 : May 31st, 2015-08:35
Mark, I agree with you and I am sure Patek has done a lot of research to ensure that the prices of these special pieces are as 'correct' as possible. Sham
i like your dedication...
By: Fricks : May 31st, 2015-09:36
... to the brand. However i like that brand too, this is just wrong. About the prices, don't worry for them Mark, their margin isn't that tied. With the quantity and price of gold or platine it's not what's going to come into play. Just look at the price ...
There are two different subjects Fricks
By: Mark in Paris : May 31st, 2015-09:56
My answer was concerning your previous statement about the price level. Hence, the first part of your last answer. I just wanted to say that if we took the 2005-2009 5070's prices and tried to tell what this price represent today (actualization but also r...
yes, not really concerned actually...
By: Fricks : May 31st, 2015-10:17
... as i will not buy any of these. Its about the track they are taking. Again, what worries me more : where is the limit? What's next? Btw, that 5270G munich was really not tempting... Thanks god! :))
Again,
By: dr.kol : May 31st, 2015-09:02
I'm not here to defend Patek. I guess they are selling their last Lemania based movements and they have valued those pretty high. We also need to remember that the dial of the watches are not the same as the standard versions. When it comes to 3940, the p...
Not only Patek...
By: Fricks : May 31st, 2015-06:06
... its the market that clearly does, one goes at a premium while the other trades at a discount ... Patek maybe trying to take advantage of it? But they've shot themselves in the foot, by kind of admitting that lemania's are more desirable that the new i...
yes, i take it with a smile...
By: Fricks : May 31st, 2015-07:43
... like all rookie's mistake are. You know who must be smiling and feeling a tad more confident? Rolex!
Well, it remains a surprise,
By: Mark in Paris : May 31st, 2015-09:18
especially when we look back at the 175th pieces and, before that, the 2013 Munich 5270. From the little I could see these 5070, 5970, 3970 seem to be beautiful pieces. Taking into account the context and then asking why it was launched remains a mystery ...
About 175th...
By: Fricks : May 31st, 2015-09:55
... its a commemoration, so its a natural to make a collection for the anniversary. The munich 5270G was the 1st sign... As much as i can understand the 5130 munich, or shangai, etc... i do not about the 5270G. It is not a model to "toy" around with color...
I agree Fricks
By: Mark in Paris : May 31st, 2015-10:04
I would like to know what is the strategy concerning these events (Munich and London) which have not been treated the same way. For the Munich 5270, well, I think it is a question of taste. If they had made another kind of dial, maybe more appealing (but ...
More photos
By: watch-fan : June 1st, 2015-09:18
These are some of my photos. I am lucky to ride on one of these cars. ...
Too many people
By: watch-fan : June 2nd, 2015-02:35
I have no idea what are available for sale. Too many people on the dinner party. Do not like it very much. It seems to me it is for public,not for VIP. I am not allow to touch watches. Wasting my time.