Price increase on 1 Feb

[Kittayos]

I was told since early January but I did 't see anyone mention it. It's going up 6-7% this time.

[PT_91]

Globally?

[Chelsea1986]

Around 5% I was told in the UK

[Ubiquitous1984]

HS closes down my AD, and on his way out of the room turns around and says ... "One more thing, price of the brick is going up!"

[LJubel328]

Again? Any insight into whether it'll be across the whole line or select pieces?

At this rate, I wouldn't be surprised if AD cases start filling back up.

[PT_91]

Price increase in Switzerland seems quite moderate, cannot speak for all references though. 5167A went from CHF 20'500 to CHF 20'750

[Mbbgysam]

New prices are on the US Patek site. I spot-checked a few against the WoS site and the price differences are minimal, for example:
5811/1G $69,785 to $70,110 (+0.5%)
5320G $97,581 to $98,160 (+0.6%)

[HMHM]

I think those who live in the UK will be pretty shock when they check the new prices….

[Eyas]

New prices are up on the uk website with some hefty increases - 5990/1R now £101,930. The 5980s have disappeared so seems that rumour was accurate.

[Eyas]

Originally Posted by HMHM

I think those who live in the UK will be pretty shock when they check the new prices….

Yup I just checked!!!

[Ashj52]

Pretty significant increase I feel for the UK!

[Jutch]

Originally Posted by Ashj52

Pretty significant increase I feel for the UK!

Tell me about it..the 5205G I bought in September for £46,190 is now £49,300.


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[Partekular]

Presumably PP are trying to capture some of the Grey flipper market margins….

Just when PP Grey prices are falling….

There again the shrinking number of stores and the pressure on those remaining to upgrade their interiors (see shrunken number London outlets - and eg WofS Regent Street improvements) and the sheer cost of the PP Bond Street Boutique enlargement - all have to be paid for.

PP might also be trying to reduce the number of people on their “wait list” by driving them away.

It will be interesting to see how Chrono 24 and Watch Charts prices move.

[ts3]

Minor adjustments of mostly less than 1% in Germany. In light of the FX developments last year I am even more surprised by the UK increase. Clearly they must feel their UK customers continue to be well off compared to the Germans.

[bob101]

It seems pretty crazy and grey is certainly the way to go for me.

[Crob1]

Originally Posted by Jutch

Tell me about it..the 5205G I bought in September for £46,190 is now £49,300.


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OMG... that's a huge difference.

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[ButtButt]

Singapore also saw some hefty increases... 5326G went up by almost $10K (~9%).

[bob101]

Yeah. 46500 for a 6119g ouch. The 5226 is 58500 sgd too..

[Giangos]

Over 6% increase in Australia


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[HMHM]

Honestly, with the current market conditions, and most likely it will get worse, Patek are shooting themselves in the foot with such steep hike. A lot of the dress watches are already going for massive discounts on the grey market.

[Partekular]

looking at a few prices - UK price hike just under 7%

5811 56,190 > 60,050
5224 46,190 > 49,350

[ts3]

Originally Posted by Partekular

looking at a few prices - UK price hike just under 7%

5811 56,190 > 60,050
5224 46,190 > 49,350

At current FX the old GBP prices above were quite a bit lower than the EUR prices in Germany. The massive UK price hike (and the absence of a similar hike in the EUR prices) may well have been implemented to eliminate that imbalance.

[johnsonsxusfrt]

Originally Posted by HMHM

Honestly, with the current market conditions, and most likely it will get worse, Patek are shooting themselves in the foot with such steep hike. A lot of the dress watches are already going for massive discounts on the grey market.

100% spot on. Only a Handful of models are commanding premiums, the market correction is still under way.

[salnuaimi]

Originally Posted by Mbbgysam

New prices are on the US Patek site. I spot-checked a few against the WoS site and the price differences are minimal, for example:
5811/1G $69,785 to $70,110 (+0.5%)
5320G $97,581 to $98,160 (+0.6%)

Those are the CHF Adjustments only

[mjolnir2thor]

Checked the price increase for a 5226G which went from $40,220 to $40,420 so it was a pretty negligible increase.

[ScouseJim]

I'm after a 5205G, and the price here in the UK has increased by nearly 7% :-(

[LJubel328]

Originally Posted by Partekular

Presumably PP are trying to capture some of the Grey flipper market margins….

Just when PP Grey prices are falling….

There again the shrinking number of stores and the pressure on those remaining to upgrade their interiors (see shrunken number London outlets - and eg WofS Regent Street improvements) and the sheer cost of the PP Bond Street Boutique enlargement - all have to be paid for.

PP might also be trying to reduce the number of people on their “wait list” by driving them away.

It will be interesting to see how Chrono 24 and Watch Charts prices move.

I wouldn't be surprised in the least if some grey dealers try to bump their prices in tandem with Patek's price increase. They have been able to do so in the last few years, but with not much inventory moving at current levels, I'm not sure whether they'll be able to get away with it this year. They will be sitting on their inventory even longer.

Originally Posted by mjolnir2thor

Checked the price increase for a 5226G which went from $40,220 to $40,420 so it was a pretty negligible increase.

Ya, U.S. wasn't bad. I really feel for our UK customers on here.

[pam66]

Originally Posted by johnsonsxusfrt

100% spot on. Only a Handful of models are commanding premiums, the market correction is still under way.

in very many cases the dress watches are just forced side-buys to sports watches, so they can potentially still push the prices up.