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My 50c.
1). The 5131 is not a LE. It's retail is £44750 which makes it cheaper than a 5930 and 5170 as an example. Supply and demand is unbalanced and hence the huge premium. Increase the retail price to £60 000 and maintain supply and you will quickly see the grey market drop off as existing people on the waiting list will drop off and flippers will see no real financial advantage. We can then moan how a watch that even PP thinks is worth £46 can be worth 30% more!,
2). The very fact that a person who spends $2 million doesn't automatically get a 5131 shows that PP are trying a more egalatarian approach. It doesn't mean the guy spending $10 mil gets as many as he wants!;
3). PP has a balancing act in giving good customers access to limited supply pieces to thank them for their patronage. Do they want to do this as a financial subsidy by encouraging flipping? I don't think so....otherwise just start a loyalty program and have tiers!!! There are significant collections in this region where watches are like stamps, you get each model in each metal because you can! They are not double sealed and kept in safes for the intent to sell later - those are not collectors they are investors!
4). Maybe PP can acknowledge investors and allow them sealed boxes but that implies you won't sell them tomorrow!! If you do you are not an investor but a flipper! If you an investor then conditions may apply on time, papers etc...
I can think of hundreds of ways this can be done and there is no one way to keep everyone happy. And yes as some will know I am on the list for the 5131R not because I want the R but I want the watch after R...the P or the 5231P or whatever else but you need to be on a list to stand a chance even if it's 6 years!! RussellW is proof to tenacity!!
The 5575 and 5131 carry similar prices yet there are only 1300, 5575 and I guarantee far more 5131's in circulation and increasing everyday. Some people on the list wouldn't be on the list if they couldn't flip it.
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