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Today, 01:33 AM | #1 |
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Join Date: Sep 2023
Real Name: Watch Lover
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Thierry Stern’s Comments, Stallone’s Auction Approved By Patek, Lisa Jones Background
Hi All
There has been much buzz about Thierry Stern’s recent comments in response to criticism about the Cubitus, specifically where he says “the haters will never own a Patek”. A very unorthodox response from a leader when facing critique and not being well received as many blogs are viewing this as pretentious and arrogant. Having said that I’ve seen posts on here in the past where Mr Stern made comments at private events stating “Patek is only for the elite” and what he considered non-elite are people who are not relevant to the brand. Interestingly enough that post quickly got locked. We also saw Sylvester Stallone auction his brand new fully sealed rare pieces recently and Patek did not directly comment on this matter but made cryptic statements about it saying it was disappointed when any collector does such things and they strive to make sure they sell these pieces to people who will not do such things. I call BS on this public statement by Patek because Stallone has been selling his ultra rare Patek’s for years and Patek was well aware of this yet they continue allocating to him, see 14 min on this video where Avi & Co confirms this https://m.youtube.com/watch?v=vZAC2e...NlciBtaWNoYWVs So Patek has not been entirely honest with the public and its core customer base relative to allocations, what it frowns upon, and enabling and encouraging flipping to create more hype on its own brand. Lisa Jones president of Patek Philippe USA comes from an auction house background. Prior to joining Patek she worked for Christie’s auction house. There is more than enough evidence to show Patek has no dislike for its new highly rare allocated pieces being auctioned at “inflated” prices, and it actually enables “certain collectors” to do this so an inflated price sticks to the brand thus driving more revenue for the company and helping to sell all of its pieces. The Stallone auction did not play out as well as Patek had anticipated as the 6300G piece sold for a mere $5.4 million. After fees that’s close to the high 3’s and very close to retail. Patek is not seeing the 5X returns on such strategic execution of celebrity auctions, and we continue to be in a downward trend of secondary pricing with demand continuing to fall from peaked levels. So in conclusion with Mr Stern’s controversial and somewhat arrogant comments in recent years, combined with failed executions of the brand trying to inflate its own brands value and price per piece with such auctions, and the Cubitus being viewed by the majority as “lazy” and “unimaginative” for a brand like Patek’s caliber do you all think these are the early signs of Patek Philippe losing some prestige and its place as the number 1 watch brand in the world? Patek will always sell watches and is cemented in horological history and prestige. But nothing remains number 1 forever so my question is more around its place and number in horological prestige. Would love to hear your thoughts. |
Today, 01:59 AM | #2 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Dec 2010
Real Name: PaulG
Location: Georgia
Posts: 41,763
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I have been critical of PP's decisions on the Aquanaut's role. But I'm not a hater and I own a Calatrava.
Out of context quotes are a minefield so won't comment on that hater quip. I tend to agree that Stallone's approach is counterproductive to more different people buying a Patek. But it is his right to sell any of his watches. It reflects more on his choice of PP versus another high-end brand like RM. Sent from my iPhone using Tapatalk Pro
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Today, 02:05 AM | #3 |
"TRF" Member
Join Date: Dec 2022
Location: Basel
Posts: 151
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Sometimes even i, as an arrogant person, i like arrogant people. And with TS as CEO i m sure PP will stay far ahead of all others! Buy ur APs, Mosers or what ever-please get happy with. Who do you "haters" think you re?! Its "only" a new design and not your company! You can also take yourself for too important and this is said by a (sometimes) arrogant person!
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Today, 03:36 AM | #4 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Mar 2020
Real Name: A-Aron
Location: Utah
Watch: 126710BLNR 226570
Posts: 2,187
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I’m not sure there is much context to digest here .. I’m not saying he’s wrong , but these comments are off putting by most standards
In other news , PP modernized their slogan to coincide with the release of the Cubitus : “You never really own a Patek Philippe. You just wish you did , you poor piece of shit “ Sent from my iPhone using Tapatalk |
Today, 03:39 AM | #5 |
"TRF" Member
Join Date: Jun 2017
Location: Los Angeles
Watch: 3970
Posts: 3,875
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Saw this on IG- chuckled abit Sent from my iPhone using Tapatalk |
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