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#1 |
"TRF" Member
Join Date: Sep 2021
Location: HK
Posts: 1,061
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Is selling a Patek heavily frowned upon?
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? |
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#2 |
"TRF" Member
Join Date: Jul 2007
Location: Sunderland
Posts: 1,285
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If it’s a hot model let them know, they should be fine
Sent from my iPhone using Tapatalk
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Instagram @scurfawatches |
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#3 |
2024 Pledge Member
Join Date: Jul 2018
Location: Santa Fe
Posts: 1,871
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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.
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#4 |
"TRF" Member
Join Date: May 2013
Location: London
Watch: 3800/1J
Posts: 82
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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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#5 |
"TRF" Member
Join Date: Oct 2017
Location: Melbourne
Posts: 189
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Yes it would be.
You are required to look after it for the next generation... SOoO many watches, SOoO little time... |
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#6 |
2024 Pledge Member
Join Date: May 2019
Location: Hobart
Posts: 1,018
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How can you sell something that you are looking after for the next generation.
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2 FA Enabled |
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#7 |
"TRF" Member
Join Date: Oct 2017
Location: Melbourne
Posts: 189
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The question I responded to was:
Is selling a Patek heavily frowned upon? SOoO many watches, SOoO little time... |
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#8 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Nov 2010
Location: North Carolina
Watch: Rolex/Others
Posts: 46,630
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The watch is your property so do with it as you please. The situation you described should not cause a problem.
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#9 |
Banned
Join Date: Dec 2019
Location: -
Posts: 407
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Please be careful it is very dangerous to sell a watch you paid for...
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#10 | |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,892
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Quote:
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__________________
Omega Seamaster SMP300m, Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Breitling Superocean Steelfish, JLC Atmos Transparent Clock |
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#11 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Mar 2013
Location: usa
Posts: 19,372
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Frowned upon by whom, it’s your watch dude
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#12 | |
"TRF" Member
Join Date: Mar 2009
Location: USA
Posts: 4,346
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Quote:
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. |
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#13 |
"TRF" Member
Join Date: Sep 2020
Location: Scotland
Posts: 465
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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. |
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#14 | |
"TRF" Member
Join Date: Jun 2013
Location: Here
Posts: 4,640
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Quote:
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. Sent from my iPhone using Tapatalk |
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#15 | ||
2024 Pledge Member
Join Date: May 2016
Location: UK
Posts: 4,209
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#16 | |
"TRF" Member
Join Date: Apr 2020
Real Name: Jerry
Location: New Orleans
Posts: 693
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Quote:
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♛ 116610LN ♛ 116500LN White ✥ 5167A |
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#17 | |
2024 Pledge Member
Join Date: Apr 2013
Location: USA
Posts: 1,059
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#18 |
"TRF" Member
Join Date: Jan 2020
Real Name: Chris
Location: USA
Watch: ingMe,WatchingYou.
Posts: 1,462
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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.
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#19 |
"TRF" Member
Join Date: Nov 2016
Location: HKG
Posts: 275
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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. |
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#20 | |
"TRF" Member
Join Date: Sep 2021
Location: HK
Posts: 1,061
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Quote:
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. |
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#21 | |
"TRF" Member
Join Date: Jun 2013
Location: Here
Posts: 4,640
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Quote:
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. Sent from my iPhone using Tapatalk |
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#22 |
"TRF" Member
Join Date: Oct 2019
Real Name: HM
Location: 🇲🇾
Posts: 2,441
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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.
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#23 |
"TRF" Member
Join Date: Dec 2013
Location: FL
Watch: platinum sub
Posts: 15,884
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Lol. Not as long as you buy diamonds too.
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If you wind it, they will run. 25 or 6 to 4. |
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#24 |
"TRF" Member
Join Date: Apr 2020
Location: USA
Watch: CHNR/YM/DJ/OP/SUB
Posts: 1,869
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#25 | |
"TRF" Member
Join Date: Nov 2016
Location: HKG
Posts: 275
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Quote:
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. |
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#26 | |
"TRF" Member
Join Date: Sep 2021
Location: HK
Posts: 1,061
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Quote:
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#27 |
"TRF" Member
Join Date: Oct 2016
Location: Montana
Posts: 3,223
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If selling was frowned upon, where do the grey market dealers get their vast inventory, I wonder.
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#28 |
"TRF" Member
Join Date: Jul 2017
Location: London
Posts: 23
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I think if you waited till the warranty time is over , it would be safer to sell without affecting your profile with your AD.
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#29 |
"TRF" Member
Join Date: Aug 2018
Location: Canada
Watch: 5711,Sub,DS,YM42
Posts: 805
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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.
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