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17 February 2024, 04:39 AM | #1 |
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Ad
Can AD offer Patek hot watches at gray market price ? This is so strange
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17 February 2024, 06:38 AM | #2 |
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Are they "used"? ie - sell them to customer - then take them back in . . .mark up 50% / sell again?
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17 February 2024, 07:13 AM | #3 |
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17 February 2024, 07:35 AM | #4 |
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1. What country are you in, OP?
2. Are these brand new watches or pre-owned watches? Sent from my iPhone using Tapatalk Pro |
17 February 2024, 08:23 AM | #5 |
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Porsche and Ferrari do the same thing. Car comes in the new car front door, manager drives it home for the night, then parks it in the pre owned showroom the next day at a 200k markup.
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17 February 2024, 09:09 AM | #6 |
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Not in the US. At least they are supposed to sell at MSRP.
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17 February 2024, 11:00 AM | #7 | |
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Quote:
The car must be sold to a consumer (which means sales tax and license fees paid. No sales tax up front if leased) and recorded as a sale with the manufacturer in order for it to be considered pre-owned first. The original client can then sell the car back to the dealer or consign it with them at which point, they can ask for more than MSRP. A manager driving the car home and then putting it on the used car lot as a used car is absolutely not true. That would make the car a demo. Still considered a NEW car as far as the manufacturer is concerned, thus the MSRP rule still applies for Ferrari dealers. Not sure where you got that info from.
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17 February 2024, 02:21 PM | #8 | |
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In USA, until the MCO/MSO is exchanged for a car title, the car is new. Sent from my iPhone using Tapatalk Pro
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17 February 2024, 05:07 PM | #9 | |
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Quote:
I believe PP due care about their clients and collectors as much as they care about there AD network. Mater of fact in a previous interview with the CEO Thierry Stern he mentioned that they would continue to deal with them as long as they provide quality service to end client. I believe PP do leave very small margin for exchange rate and local VAT/sales tax but that’s it. No grey market markup is allowed. I know retailers and specific shops that lost there AD rights because of shady deals Sent from my iPhone using Tapatalk
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Current Collection: PP 3700/11AJ, PP 5170G, PP 5320G, PP 5712/1A, APRO 15500, Rolex 116234, Rolex GMT Master2 BLNR, Omega SMP, Baume & Mercier M0A10280 |
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17 February 2024, 06:26 PM | #10 |
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It’s new watch BNIB that will be registered under my name but gray market price :( I want to do it as I prefer to deal with AD than gray dealer and also I will have the name on it . But I find it strange and shady , this is Asia by the way
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17 February 2024, 06:50 PM | #11 | |
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Quote:
https://www.prestonsdiamonds.co.uk/p...patek-philippe |
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17 February 2024, 07:56 PM | #12 |
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Some dealers in Singapore and HK engage in that practice.
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17 February 2024, 08:41 PM | #13 |
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This would imply that the 30% of their ADs they cut over the past few years were all bad apples. I don't know... Where I live there is an obvious pattern - the large city ADs stay on while smaller family-owned and regional ADs get cut.
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17 February 2024, 08:48 PM | #14 | |
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Quote:
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17 February 2024, 09:51 PM | #15 |
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Yes.
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18 February 2024, 04:18 AM | #16 |
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Shady yes but if you really like a hot watch I’d prefer it this way over buying grey since their unworn watches are almost never that
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18 February 2024, 05:04 AM | #17 | |
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Quote:
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18 February 2024, 06:11 AM | #18 |
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Not if new, yes if preowned. I’ve bought both new Pateks and preowned from my AD, but only preowned that were under list.
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21 February 2024, 08:56 AM | #19 |
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So it yes and no answer, I seen an AD who tells you he can give you whatever watch you want but at grey price as they "just sold it and will buy it back from their customer" within the week any model you want.. Sad but true story
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22 February 2024, 11:17 AM | #20 | |
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Quote:
Not necessarily the removed ADs were bad, that’s not what I meant. Some of the could be bad and that’s why they were removed. Other ADs perhaps were not performing to the level that PP desires. It is a business decision in the end of the day, PP reached a point where they no longer have enough pieces for all ADs that show the full depth of their catalog. So they had to do something (in their opinion) Sent from my iPhone using Tapatalk
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Current Collection: PP 3700/11AJ, PP 5170G, PP 5320G, PP 5712/1A, APRO 15500, Rolex 116234, Rolex GMT Master2 BLNR, Omega SMP, Baume & Mercier M0A10280 |
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