Patek AD historical trend

[SeeDweller]

Originally Posted by MangoTree1

Nice story and a fantastic watch! Congrats!

Thank you!
We’ve really enjoyed the watch journey, of course, and for obvious reasons.

The other comment about closing our AD is certainly worrisome, but they’ve just opened the Carmel Boutique a couple years ago, so I suspect that it won’t be first on their hit list. Indeed, Kern Jewelers will be opening up the new Patek Boutique in SF in just a few months.
(Despite closure of Shreve, who had been PP for >100yrs!)

So it makes you wonder “why” certain AD’s get closed?? Maybe there’s back stories that we don’t know? Maybe some selling behind the back door and green changing hands? I’m not sure but often there’s more to the story that might explain things, eh?


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[llngoc]

Originally Posted by brandrea

Pretty soon we will have to fly to Switzerland to buy our watches

Geneva only serves locals now. Someone I know who'd been with the Geneva Salon for years was told to find her own local AD after the pandemic. Lucky for her that her family has a long history of jewelry purchases from an AD.

[mpytel]

I bought my first Patek from Betterridge in Aspen in 2023 (I live in Denver.) Received an email today that Betteridge is no longer a Patek AD as of Jan 7th. Super sad. Spent two years farming relationship to get Calatrava Travel Time Pilot with hopes of something that had a complication around the corner.

[byow]

Originally Posted by llngoc

Geneva only serves locals now. Someone I know who'd been with the Geneva Salon for years was told to find her own local AD after the pandemic. Lucky for her that her family has a long history of jewelry purchases from an AD.

I know several PP collectors who are not « locals » but acquire their watches from the Salons.

[codecow]

Originally Posted by mpytel

I bought my first Patek from Betterridge in Aspen in 2023 (I live in Denver.) Received an email today that Betteridge is no longer a Patek AD as of Jan 7th. Super sad. Spent two years farming relationship to get Calatrava Travel Time Pilot with hopes of something that had a complication around the corner.

On the plus side, you got a watch you hopefully like.

On the minus side you’re back to zero.

[llngoc]

Originally Posted by byow

I know several PP collectors who are not « locals » but acquire their watches from the Salons.

How *big* is their collection? I am sure if they have already have many application pieces through the Geneva Salon, there will be exceptions.

[Pw92676]

Originally Posted by SeeDweller

(I know: …. Pictures, or it didn’t happen!)


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Huge congrats!!!!

[Phlippe]

Originally Posted by mpytel

I bought my first Patek from Betterridge in Aspen in 2023 (I live in Denver.) Received an email today that Betteridge is no longer a Patek AD as of Jan 7th. Super sad. Spent two years farming relationship to get Calatrava Travel Time Pilot with hopes of something that had a complication around the corner.

Not a surprise with Betteridge sale to WOS back in the fall of 2019 at the watch market peak. I was recently told at a different WOS location that WOS has gone to a company wide wait list so if you put your name down for a Rolex at two locations you can be black listed. Betteridge also use to sell JLC but they lost that brand earlier this year too. It doesn’t surprise me to hear Patek Philippe pulled out of the Aspen store. Sorry you lost your source.

[ts3]

Originally Posted by llngoc

How *big* is their collection? I am sure if they have already have many application pieces through the Geneva Salon, there will be exceptions.

In 2019 they told me they serve locals plus people flying in on their own jets from around the world. No luck. I had arrived on Lufthansa.

[llngoc]

Originally Posted by ts3

In 2019 they told me they serve locals plus people flying in on their own jets from around the world. No luck. I had arrived on Lufthansa.

Are you serious about the jet part?

[Divingdeep87]

Originally Posted by llngoc

Are you serious about the jet part?

It’s a thing trust me. My AD showed me one of the first 5811 and said I couldn’t get it because the customer witch it was for, couldn’t land his private jet because of fog.

[llngoc]

Originally Posted by Divingdeep87

It’s a thing trust me. My AD showed me one of the first 5811 and said I couldn’t get it because the customer witch it was for, couldn’t land his private jet because of fog.

Is this the AD or the Geneva Salon? I was told Salon only serves local but not sure for ADs.

[scurfa]

If you fit the profile you won’t have any problem buying.

[dauster]

Originally Posted by bob101

Yeah on another thread we talked about this. It does seem crazy that some clients are spending upwards of 1m USD then being told their AD has lost relationship with Patek. There is no invitation to contact x AD to continue “watch journey with Patek” or welcome to list some pieces you’d like and come to Geneva perhaps etc etc even for these vip clients. No thank you for your business here are some options.. Would that happen if you were a big client with car companies? Hermes? I don’t know. It certainly is off putting for former customers to even bother to start with Patek again.

I talked to HSWA rep at a Patek event and trust me if you spent $1m they will take care of you. Of course if you bought two Pateks they don’t care but if Patek HQ knows you you will be fine


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[dauster]

Originally Posted by SeeDweller

(I know: …. Pictures, or it didn’t happen!)


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Awesome congratulations!!!


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[dauster]

Originally Posted by scurfa

It’s a huge own goal in my opinion and idea dreamt up in the high times, it will backfire in the dry times.

I’ve lost my local AD and have come to the conclusion that I won’t be buying another new Patek, no contact from Patek to say thank you for being a customer your local dealer has gone here is your new contact for sales and servicing in another area.

I was invited to a Breitling event a few weeks ago and that’s a brand I’ve never looked at before, it made me realise how important it is to have a shop nearby, I really appreciated that night and took great interest in their range.

Ok you are right but jeez breitling really ?!?! Let’s be honest Patek can sell their 65k watches in china and India alone probably and they barely have any point of sales in that region. They made it clear that they are a watch maker that and not a retail company - maybe it will backfire but I highly doubt it frankly


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[scurfa]

Originally Posted by dauster

Ok you are right but jeez breitling really ?!?! Let’s be honest Patek can sell their 65k watches in china and India alone probably and they barely have any point of sales in that region. They made it clear that they are a watch maker that and not a retail company - maybe it will backfire but I highly doubt it frankly


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I was using Breitling as an example, a local dealer holding events can create interest and if you don’t have one the interest goes, I’m sure Patek can sell all their watches at the minute.


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[SeeDweller]

Originally Posted by dauster

Awesome congratulations!!!


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Thank you, Robert!
Hope you’re doing well.

Biggest problem is that I don’t wear this very often…. Kinda afraid to get it used. When I want to steep up a little, I wear the 5167, and swap out the straps and having fun. BUT, there’s few events that I feel the 5811 is “the right watch” for the day.
(It’s a first world problem!).

See you soon!


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[llngoc]

Originally Posted by scurfa

It’s a huge own goal in my opinion and idea dreamt up in the high times, it will backfire in the dry times.

I’ve lost my local AD and have come to the conclusion that I won’t be buying another new Patek, no contact from Patek to say thank you for being a customer your local dealer has gone here is your new contact for sales and servicing in another area.

I was invited to a Breitling event a few weeks ago and that’s a brand I’ve never looked at before, it made me realise how important it is to have a shop nearby, I really appreciated that night and took great interest in their range.

Same boat here. My long term AD is expecting to find out if he is losing his dealership soon and if indeed he is, I think my Patek journey will end. I had a long talk with him and it seems like Patek is expecting AD to invest in standalone boutique in a high end shopping district. Even though he just remodeled and got a store-in-store set up just two years ago. He thinks that Patek feels that his store location is not lavish enough.

[dauster]

Originally Posted by SeeDweller

Thank you, Robert!
Hope you’re doing well.

Biggest problem is that I don’t wear this very often…. Kinda afraid to get it used. When I want to steep up a little, I wear the 5167, and swap out the straps and having fun. BUT, there’s few events that I feel the 5811 is “the right watch” for the day.
(It’s a first world problem!).

See you soon!


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Happy New Year - yes definitely a first world
Problem;) enjoy !!! It’s definitely a Banger !!!


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[dauster]

Originally Posted by scurfa

I was using Breitling as an example, a local dealer holding events can create interest and if you don’t have one the interest goes, I’m sure Patek can sell all their watches at the minute.


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Makes sense you have a good point !!! Local events definitely can make a difference but probably more important for less hot watch companies


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[llngoc]

Anyone knows when will the ADs find out if they will be cut this year?

[byow]

Originally Posted by llngoc

How *big* is their collection? I am sure if they have already have many application pieces through the Geneva Salon, there will be exceptions.

It is difficult to explain, but try to think about these collectors as people who can buy ten PP GC in one day.

Originally Posted by ts3

In 2019 they told me they serve locals plus people flying in on their own jets from around the world. No luck. I had arrived on Lufthansa.

I cannot say whether the jet is the decisive criterion, but, yes, there are « non-local » clients flying on their jets to collect a timepiece or several, for that matter.

Originally Posted by llngoc

Is this the AD or the Geneva Salon? I was told Salon only serves local but not sure for ADs.

All the three Salons sell « coveted » timepieces to « non-locals ».

Originally Posted by scurfa

If you fit the profile you won’t have any problem buying.

This is partly true for some timepieces, but the right introduction matters more.

[John Doyle]

Originally Posted by byow

It is difficult to explain, but try to think about these collectors as people who can buy ten PP GC in one day.



I cannot say whether the jet is the decisive criterion, but, yes, there are « non-local » clients flying on their jets to collect a timepiece or several, for that matter.

All the three Salons sell « coveted » timepieces to « non-locals ».



This is partly true for some timepieces, but the right introduction matters more.

The first point is extremely exaggerated, who buys 10 GC in one shot. This 100% would raise eyebrows and i would be very surprised if Patek Salons agree to sell that many signature watches to one person unless this person is super famous or well connected / grey dealer. Of course Patek is in the business of selling watches and anything is possible but I highly doubt things would go down this way. Anyway if that's the case, and we know Patek doesn't make THAT many GCs, then it means that Patek would sell hard to get models to people who can't get GCs because of these big whales - even better! (if what you say is really true).

[byow]

Originally Posted by John Doyle

The first point is extremely exaggerated, who buys 10 GC in one shot. This 100% would raise eyebrows and i would be very surprised if Patek Salons agree to sell that many signature watches to one person unless this person is super famous or well connected / grey dealer. Of course Patek is in the business of selling watches and anything is possible but I highly doubt things would go down this way. Anyway if that's the case, and we know Patek doesn't make THAT many GCs, then it means that Patek would sell hard to get models to people who can't get GCs because of these big whales - even better! (if what you say is really true).

PP has not always been the hottest watch brand.

All GC are neither « signature pieces », if by that you are referring to « allocation pieces », nor historically « hard to get models ».

The collectors I mention have not started to call themselves this way in the last seven years. They have been loyal to PP for decades.

If the « 10 GC » image is uncomfortable, let’s say that these collectors have « pièces uniques » in their collections and PP does not limit their contacts to one visit of the Manufacture per year.

They also sometimes fly with their jets to get their timepiece.

Finally, I do not think that they are « whales ».

[russ86]

A numbers are only going to get smaller and smaller

[Aviela.W]

Originally Posted by SeeDweller

(I know: …. Pictures, or it didn’t happen!)


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Great story, nice watch!

[Tzachi]

Originally Posted by brandrea

Pretty soon we will have to fly to Switzerland to buy our watches

They are here at your service :-)

[llngoc]

Just got the sad news that my AD is no longer. And now only 296 ADs are left globally. Well, time to move on and say bye to the brand…

[mickyd329]

Originally Posted by llngoc

Just got the sad news that my AD is no longer. And now only 296 ADs are left globally. Well, time to move on and say bye to the brand…

That's just terrible! Sorry to hear.