Price rise 1st September in UK

[Mini2]

Is this going to be a rise all around the world or just the UK?

[Ubiquitous1984]

Another one?!

[Bazil]

I hope not .. have a couple of watches I’m waiting on …

[Moondoggy]

Price rises on a singular product are irrelevant to the big picture.

[Kittayos]

Was told since late July. It's 3.5% for gold and 1.5% for steel if I recall.

[Kronos88]

I heard the same, my dealer in Italy mentioned prices will increase by ~3% in September.

[Bazil]

Only just had a rise in 1st June …
I escaped a 4% rise on a Daytona … by one day ..

[aa_watch]

Could anyone confirm if PP increase prices twice per year ?

[Ubiquitous1984]

Originally Posted by aa_watch

Could anyone confirm if PP increase prices twice per year ?

No it's ad hoc, some years there are no price rises.

[psheridan72]

Gosh, I wonder have I been really lucky. Collected last week.


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[Doofler]

Just UK ? Hope not EU also


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[Kittayos]

It's likely world wide.

[HMHM]

A mistake if this is true. Sales have slowed down over the last 1 year and the availability is increasing for most models except for Nautilus and Aquanaut. Increasing the price will only lead to discounts from the AD (which is great) but we are essentially back to square one in terms of net pricing.

A 30k watch with 5% increase -> slower turnover -> ADs offer 5% to push a sale through.
What’s the point? In a bull market it might make sense, but in a market where it is gradually turning into buyer’s market, it does not make any sense.

[Partekular]

Could it be that they are trying to hold up grey market PP prices?

[Mini2]

Originally Posted by Partekular

Could it be that they are trying to hold up grey market PP prices?

Grey market prices are falling tho

[Partekular]

Originally Posted by Mini2

Grey market prices are falling tho

They are indeed! That’s my point. If PP’s don’t hold some substantial level of value they lose one of their status support legs. We all know watches are not investments per se but we don’t expect them to crash/depreciate like some luxury SUVs do. Why buy them anticipating leaving them to the next generation if leaving cash would be the better option?

The only PP’s holding up, indeed exceeding RRP, are Nautilus and Aquanaut. The 5172 and 5320 - both amazing pieces - have taken a serious tumble in the last couple of years. I might break the habit of a lifetime and buy grey myself in future.

[HMHM]

But wouldn’t that make the situation worse? The prices of Patek dress watches are sliding down on the secondary market. For those who buy from AD, the delta between new watch prices and that on the secondary market is widen further. This would give more incentive for people to buy on the secondary market rather than direct from AD. One example we can see right in front of us is the situation at AP with the CODE 1159. People are less inclined to buy them from AP despite the carrot of a RO. If the difference is huge between new and pre-owned, I’m afraid ADs will have difficulty convincing customers to buy new despite the allure of an Aquanaut or a Nautilus. All these cash grab from Patek and AP in raising prices so rapidly each year are going to backfire when the economy worsens in my opinion.

[mrlosangeles]

Tell us all what it is that you collected!

Originally Posted by psheridan72

Gosh, I wonder have I been really lucky. Collected last week.


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[kaiserphoenix]

September 1st price increase for Japan as well.

[bogdoc]

Any increase in USA? Not that it will change much but I am getting something on 8/31st!

[mooty]

USA price up 9/1/24

[salnuaimi]

September 1st price increase for DXB as well.

[bogdoc]

Originally Posted by mooty

USA price up 9/1/24

It will be fun to see how much I will save

[bogdoc]

New prices are showing up on their website now!

[dauster]

Originally Posted by HMHM

But wouldn’t that make the situation worse? The prices of Patek dress watches are sliding down on the secondary market. For those who buy from AD, the delta between new watch prices and that on the secondary market is widen further. This would give more incentive for people to buy on the secondary market rather than direct from AD. One example we can see right in front of us is the situation at AP with the CODE 1159. People are less inclined to buy them from AP despite the carrot of a RO. If the difference is huge between new and pre-owned, I’m afraid ADs will have difficulty convincing customers to buy new despite the allure of an Aquanaut or a Nautilus. All these cash grab from Patek and AP in raising prices so rapidly each year are going to backfire when the economy worsens in my opinion.

I feel like these watch companies work at a snail pace like a glacier. I agree, increasing the delta for most dress watches can’t be good across the board but what do I know ?!?!


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[PT_91]

Can confirm for Switzerland, too. E.g. 5167A went from 20'750 to 21'000 Swiss Francs. Was at 20'000 February 2023.

[ButtButt]

I think the 5326G increased by $10K SGD here.

[Ubiquitous1984]

I don’t think the 5740 has gone up in price in the UK.

[Mahatma]

Will price increase get reflected in secondary market for discontinued models?

[Giggsy11]

Picked up my 5968a on thursday 29th.. so saved myself $5000HKD with the price increase on the 1st….