Is selling a Patek heavily frowned upon?

[DonLee]

I’m not talking about flipping a hot watch for the sake of profit, but simply after buying a watch from the AD for a while, you suddenly want to sell it to put towards another but more expensive watch instead. It would be about a break even deal.

Would this be heavily frowned upon?

[scurfa]

If it’s a hot model let them know, they should be fine


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[cascavel]

How is Patek going to find out you sold the watch? Patek doesn't care, this is all a fiction, paranoia. Look on Chrono24 at all the Aquanauts and Nautili that are for sale. If all the people who originally bought those watches from Patek were banned from buying more watches Patek would go out of business.

[flava_1]

I’ve heard from an AD that PP are bidding and putting deposit on stock to see who is selling them. That helps to manage their list as you won’t be invited to buy new models or it affects your standing on waiting lists. I can’t say for sure this is true but this is a fairly well established and reputable dealer.


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[Black_5]

Yes it would be.

You are required to look after it for the next generation...

SOoO many watches, SOoO little time...

[interestedwatcher]

Originally Posted by Black_5

Yes it would be.

You are required to look after it for the next generation...

SOoO many watches, SOoO little time...

How can you sell something that you are looking after for the next generation.

[Black_5]

The question I responded to was:

Is selling a Patek heavily frowned upon?



SOoO many watches, SOoO little time...

[1William]

The watch is your property so do with it as you please. The situation you described should not cause a problem.

[Becweb]

Please be careful it is very dangerous to sell a watch you paid for...

[beshannon]

Originally Posted by DonLee

I’m not talking about flipping a hot watch for the sake of profit, but simply after buying a watch from the AD for a while, you suddenly want to sell it to put towards another but more expensive watch instead. It would be about a break even deal.

Would this be heavily frowned upon?

By whom?

[ap1]

Frowned upon by whom, it’s your watch dude

[jon_jon]

Originally Posted by DonLee

I’m not talking about flipping a hot watch for the sake of profit, but simply after buying a watch from the AD for a while, you suddenly want to sell it to put towards another but more expensive watch instead. It would be about a break even deal.

Would this be heavily frowned upon?

It depends on the watch and how long you keep it before selling. If you do a lot of buying and selling within a short time period, whether the watches are popular ones or not, you can be seen as a reseller.

As you are based in HK, ADs know that HK is the hub of watch resellers and you will be seen as part of the reseller group, rather than a genuine watch enthusiast. That is not necessarily a bad thing as I am sure many/most HK ADs have existing connections with resellers to move their inventory.

[Partekular]

If I was offered and bought a green Nautilus at list price which I could sell at auction for $400,000 I’d never dream of selling it.

I’d just sell it.

Not for the money you understand, I don’t like the model. No worries PP and AD’s, I’d buy a Minute repeater with the profit.

[shaunylw]

Originally Posted by Partekular

If I was offered and bought a green Nautilus at list price which I could sell at auction for $400,000 I’d never dream of selling it.

I’d just sell it.

Not for the money you understand, I don’t like the model. No worries PP and AD’s, I’d buy a Minute repeater with the profit.

Yep, for the current price i would sell it immediately and go on a watch shopping spree. The watches are not all about the money for me but 10x on 35-40k, ya. I’m selling it immediately.


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[Russell996]

Originally Posted by Partekular

If I was offered and bought a green Nautilus at list price which I could sell at auction for $400,000 I’d never dream of selling it.

I’d just sell it.

Not for the money you understand, I don’t like the model. No worries PP and AD’s, I’d buy a Minute repeater with the profit.

Originally Posted by shaunylw

Yep, for the current price i would sell it immediately and go on a watch shopping spree. The watches are not all about the money for me but 10x on 35-40k, ya. I’m selling it immediately.


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There is a responsibility that comes with being offered these pieces in the extreme market we are currently experiencing that extends beyond simply what profit you can take but also needs to take account of your AD’s current and future relationship with Patek.

[JerBear]

Originally Posted by cascavel

How is Patek going to find out you sold the watch? Patek doesn't care, this is all a fiction, paranoia. Look on Chrono24 at all the Aquanauts and Nautili that are for sale. If all the people who originally bought those watches from Patek were banned from buying more watches Patek would go out of business.

Patek absolutely cares. Four months after I purchased my Aquanaut Patek asked my AD for a current copy of my Authenticity Certificate (which I produced). I'm fairly certain they were checking to see if I flipped it.

[Mbbgysam]

Originally Posted by Russell996

There is a responsibility that comes with being offered these pieces in the extreme market we are currently experiencing that extends beyond simply what profit you can take but also needs to take account of your AD’s current and future relationship with Patek.

+1. It's all about trust these days

[RoscoPico]

you'd hope that it's frowned upon by the AD's, at least if you're a repeat flipper. but i really doubt it is.

[qrc36]

Since you're based in HK - yes, ADs will get in trouble if PP finds out you have sold the watch within a short period of time. ADs do not want to take risks and want to sell to a "safe" buyer - someone they know will not sell the watch quickly after buying it.

PP does check - they go to auctions, they go look at watches for sale at second hand dealers - and there are consequences for the AD if they found out you have flipped the watch. The AD will quickly blacklist you and the AD may also have reduced inventory provided to them by PP as a result.

So yes, it is frowned upon. But hey, you are entitled to do whatever you want with your watch. So if you don't care about your relationship with your AD and don't want to get any more pieces, then you can sell whatever you have.

[DonLee]

Originally Posted by qrc36

Since you're based in HK - yes, ADs will get in trouble if PP finds out you have sold the watch within a short period of time. ADs do not want to take risks and want to sell to a "safe" buyer - someone they know will not sell the watch quickly after buying it.

PP does check - they go to auctions, they go look at watches for sale at second hand dealers - and there are consequences for the AD if they found out you have flipped the watch. The AD will quickly blacklist you and the AD may also have reduced inventory provided to them by PP as a result.

So yes, it is frowned upon. But hey, you are entitled to do whatever you want with your watch. So if you don't care about your relationship with your AD and don't want to get any more pieces, then you can sell whatever you have.

That's the thing. "flipping" a watch is a well known term for profiting in selling a hot market watch that you said "you wanted really much" when in fact you wanted to "make money very much". What I'm saying is another watch that I might have to lose a few % in value to sell. It's not the same thing I don't think.

[shaunylw]

Originally Posted by Russell996

There is a responsibility that comes with being offered these pieces in the extreme market we are currently experiencing that extends beyond simply what profit you can take but also needs to take account of your AD’s current and future relationship with Patek.

I’m not being offered one so it’s a bit of a moot point. But for $350,000 in profit the ADs current and future relationship with patek is not important to me. That’s why they won’t make many and won’t offer them to anyone outside of very established long term customers.


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[HMHM]

Generally when your AD sells you an in-demand watch, they would expect you not to sell it in the near future. I can’t speak for others, but my AD did say that give it a minimum of 2 years before moving it on IF I ever want to sell it. I felt it was a reasonable request to not get them into any trouble with Patek as the penalty for the AD if their watches are found on the grey market too quickly after release is that they will not get any sport models for a minimum of 1 year, possibly more. Let’s not wreck other people’s business when they were nice enough to offer you a sought after watch.

[Etschell]

Lol. Not as long as you buy diamonds too.

[GST15]

Originally Posted by Etschell

Lol. Not as long as you buy diamonds too.

I would frown upon it, and heavily.....so its out of the question

[qrc36]

Originally Posted by DonLee

That's the thing. "flipping" a watch is a well known term for profiting in selling a hot market watch that you said "you wanted really much" when in fact you wanted to "make money very much". What I'm saying is another watch that I might have to lose a few % in value to sell. It's not the same thing I don't think.

The intention does not matter to the AD. If you sell something popular, regardless of the reason, it will look bad for the AD. They don't care if you sold it for a profit or for a loss. You are no longer a "safe" customer - you become unreliable in their eyes because you cannot hold on to a watch. Selling something to you will put the AD at risk.

Your reputation at that AD will suffer and your ranking in their system will drop - so less invitations to VIP dinners, less gifts (I've received 3 this year for no reason), no offer to go to Geneva (well with Covid they aren't holding these trips anyway), and lower on the list when you request popular items in the future.

Obviously if you are selling something which is very unpopular, then the AD won't care.

[DonLee]

Originally Posted by qrc36

The intention does not matter to the AD. If you sell something popular, regardless of the reason, it will look bad for the AD. They don't care if you sold it for a profit or for a loss. You are no longer a "safe" customer - you become unreliable in their eyes because you cannot hold on to a watch. Selling something to you will put the AD at risk.

Your reputation at that AD will suffer and your ranking in their system will drop - so less invitations to VIP dinners, less gifts (I've received 3 this year for no reason), no offer to go to Geneva (well with Covid they aren't holding these trips anyway), and lower on the list when you request popular items in the future.

Obviously if you are selling something which is very unpopular, then the AD won't care.

Like I said, if i were to sell the watch, I would likely lose money, then obviously it was not a "popular" sports model.

[GreenLantern]

If selling was frowned upon, where do the grey market dealers get their vast inventory, I wonder.



https://www.youtube.com/watch?v=1FzZ7llgeAU

[Zzoggie]

I think if you waited till the warranty time is over , it would be safer to sell without affecting your profile with your AD.

[szabo_martin]

Patek does follow their pieces. A good friend has over 10 Pateks and he sold a piece years ago. When they considered him on a 5740 they combed his list of pieces and brought up the piece he sold. They let it go since he's spent millions on their products but they did question it. It only matters if you want a hard to get piece in the future. Rule of thmb is let your AD know your plans see what they say. Seems odd to most people, but this is similar on things like limited edition Ferraris and Hermes etc.... if you don't care about your relationship with the AD do whatever you like.