Thoughts on Patek 5980 Nautilus Chrono?

[mrjnam]

Ok, I'm not a rich guy, but I do have just enough for a 5980 (pics are not of me). I have a few steel Rolexes too. I know people say "Don't buy a watch as an investment; buy it because you like it" but in my situation, if this watch will not hold it's current value (apprx $39,000 used) or appreciate slightly, I just cannot afford to buy it. Here are the factors that are floating around in my mind about this watch:

It was one of two watches to feature Patek's new chronograph movement (along with the 5960p).
It's now discontinued.
Some don't consider Nautilus' a true Patek.
Patek sports watches may increase in popularity as time progresses, due to their bulkier dimensions, like Rolex sports watches?

My questions: Will the 5980 hold it's current $39,000 value and maybe even appreciate? Will it gain popularity? Blue or black dial?

[hiver]

Go for it! Also consider the white dial, far less made and absolute sleeper potential

[GB-man]

I wouldn't bank on it. Highly doubt it will hold or appreciate. Small loss is most likely outcome depending on time horizon.

[martinr]

Nobody can definitively answer your question.

[de66]

Originally Posted by martinr

Nobody can definitively answer your question.

Agreed. But buy what you love.
Blue is most popular colour. I am not much of a chrono fan but find the white to be very sporty and I like the uniformity and balanced looks of the dial. I Have the 5726 because I love calendar and moonphases watches over a chrono, but grey dial as äi know the white would not keep my love for the longhaul.
5980 As an investment that will appreciate or keep its value? Probably not for another decade at least. Appreciating or keeping in value also very much depends on purchasing at the right price, as Ken pointed out in other threads.
At the mentioned price level there are many options and probably lots more that are better from an investment point of view.... But will you like them? If its the 5980 you want shop wprld wide, use the exchange rate advantage if you have any and look for the best deal. If you can find one for less than 39000 them your depreciation is already compensated.

[RyanNL]

So you can buy it but if the watch depreciates 10% in value you cannot afford it anymore? Doesnt make a lot of sense to me.

If you keep it long enough, the listprice will go up alone with secondhand prices. But please dont buy watches with money you might need within two years!

[Lgear080]

Based on your first statement id say pass 100% ...
Your fiscal choices shouldn't be so market driven,
If they are then you clearly should wait.

[mrjnam]

Sounds like the 5980 isn't the best in terms of holding value/appreciation. Any other recommendations in the Patek lineup? My only requirements is that it's about $40k or lower, at least 39mm, and more likely to appreciate than other Pateks in it's price range.

[kilyung]

Who knows but it's trading for less than $39k at the moment.

[JJ WA]

For that budget, size requirement and value retention concerns, I'd go with either a 5711 or 5227G, brand new. You'll save some money and end up with an amazing watch.

[Zuger]

I don't think anyone can definitively say which Patek models will appreciate in value, which will stay the same and which will depreciate in value. Over the long term, by the sheer fact of price increases, I guess all models may potentially "appreciate" in value.

Question then becomes if you do buy the 5980 with your "spare" cash (I hope), how long do you plan to own it? Less than one year? More than one? More than three? Forever?

To err on the side of caution, pick a Patek that you truly love and that you won't mind taking a loss in the future. If you can't live with the latter, postpone the purchase, and put the money in the safest US treasuries. Only then can you be guaranteed the appreciation you are looking for.

[Racerdj]

I love the PP 5980 model and would not advise you to buy one if it must hold its value or appreciate slightly. If you will enjoy it and take the value when selling or trading it, then that's another story. Good luck in your search.

[lapince]

Originally Posted by Lgear080

Based on your first statement id say pass 100% ...
Your fiscal choices shouldn't be so market driven,
If they are then you clearly should wait.

Yep, you need to buy a watch right but to have this as an absolute priority is no good, no one can tell the future, maybe they will release a new 5980-1A with a full blue dial, no more chrono sub dial in a different color, that would put a blow to the demand for the old blue 5980's, no one here sees the future so… about color of course blue

Originally Posted by mrjnam

Sounds like the 5980 isn't the best in terms of holding value/appreciation. Any other recommendations in the Patek lineup? My only requirements is that it's about $40k or lower, at least 39mm, and more likely to appreciate than other Pateks in it's price range.

I bought my 2 for 8% and 14% off retail, one was bought 1 year ago and the other 3 months ago, now at the price point I can sell both in Mint condition for the price for which I got them BNIB, so it's nice but it can go the other way also, just BUY RIGHT, , saver 7.600 euros on the 2 watches in all, not so bad, of course in Europe we have the best grey market prices, 1 was from a german one and the 2nd from an italian one, if you travel it's often the best way as you get tax refund, plus you mail the box home and come back wearing your watch, in some cases it's better to get through AD or salon, in Paris the salon gets 16.9% tax refund as do all Patek AD as they told me, so you can get a great deal

[CWIN]

Not sure about it appreciating in value. If you're stretching to buy it and can't afford to lose anything on it then I would pass.

[mrjnam]

How about the 5170g? It meets my requirements (about 60k for this watch, at least 39mm, and more likely to appreciate than other Pateks in it's price range). Any better choices than the classic looking 5170g?

[AK797]

I was actually just thinking about the cost of some of these watches today as I watched a programme on people living in the extremes of wealth and poverty and I did actually think close to £30K for a steel watch was surely madness just as I looked at the £25K one on my wrist... we must all be a little mad to pay these amounts for merely watches... but then madness makes the world go round.

[red1108nyc]

I personally love it and it is my favorite Patek by far. But, since I can not afford it, I took a pass! All good and it is only what it is.. a watch and not an investment.

[cwilson13]

Maybe look at a 5711 blue or a 5167. Lower price points going in, classic/sporty references and historically pretty stable price wise if you buy right.

[soundserious]

I'll be honest: You can't afford this watch. The prices of these watches will probably hold steady but who knows? Can you afford to service this discontinued model?

Stick to Rolex and keep researching for now.

[AS1]

Originally Posted by AK797

I was actually just thinking about the cost of some of these watches today as I watched a programme on people living in the extremes of wealth and poverty and I did actually think close to £30K for a steel watch was surely madness just as I looked at the £25K one on my wrist... we must all be a little mad to pay these amounts for merely watches... but then madness makes the world go round.

well said Neil, I have these moments myself and wonder what I am thinking spending so much on watches...

[jon_jon]

Originally Posted by mrjnam

Ok, I'm not a rich guy, but I do have just enough for a 5980 (pics are not of me). I have a few steel Rolexes too. I know people say "Don't buy a watch as an investment; buy it because you like it" but in my situation, if this watch will not hold it's current value (apprx $39,000 used) or appreciate slightly, I just cannot afford to buy it. Here are the factors that are floating around in my mind about this watch:

It was one of two watches to feature Patek's new chronograph movement (along with the 5960p).
It's now discontinued.
Some don't consider Nautilus' a true Patek.
Patek sports watches may increase in popularity as time progresses, due to their bulkier dimensions, like Rolex sports watches?

My questions: Will the 5980 hold it's current $39,000 value and maybe even appreciate? Will it gain popularity? Blue or black dial?

I think you just answered your own question by your own statement above. Patek watches are not a necessity and most of us will be fine without one. You already have several Rolex watches to enjoy. Even Rolex watches are not a necessity in life, but they certainly are nice to have.

The 5980/1A was never a watch that was in such a great demand that people were on a wait list to get one. I do not think the demand will increase all of a sudden just because it has been discontinued. If you love the watch and can comfortably afford it without worrying about resale value, I would say go for it. But if you are nervous about resale value and are likely to lose sleep over the financial consequences of this watch purchase, then you should not buy it.

If the question "Can I afford it?" ever comes up in my purchase decision thought process, I pass on the item or wait until I review all my finances and make sure everything is in order.

[AK797]

Originally Posted by AS1

well said Neil, I have these moments myself and wonder what I am thinking spending so much on watches...

Yeah, the only way I justify it is by trying to buy at good prices and knowing that if I need to sell I won't take a big hit.

[kilyung]

When I start questioning the cost of this hobby, I remind myself of all the stupid things I've purchased over the last 30 years. In comparison, watches have been a fantastic buy.

[Socal to az]

Bumping this thread. Thinking about trading in my 5980 blue dial. How are prices doing? I want to apply the funds towards 5524 or 5270r eventually.

[lapince]

Pretty good if you look at chrono24, now at how much lower than advertised prices do they really sell is anyone's guess, you need to contact sellers and get to know IMO
https://www.chrono24.com/en/search/i...earchexplain=1

[Pingparme]

Hi OP, from my own experience, the value you get on flipping a watch really depends on who you sell it to. You will definitely loose money if you sell to a dealer as he/she needs to make a living. If you sell through forums, you need credentials. If you don't hold the watch long enough, the chances are that you might also loose some. It doesn't matter which brand you purchase, even Patek or Rolex (both reputed to be probably the top choices for retaining values), unless you are looking at purchasing hot "mass" items, everything else will be hard to predict. And the higher end you go, meaning the higher the price tag, the less people there are out there who can pick it up, and the market becomes a much smaller place.


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[lapince]

Originally Posted by mrjnam

How about the 5170g? It meets my requirements (about 60k for this watch, at least 39mm, and more likely to appreciate than other Pateks in it's price range). Any better choices than the classic looking 5170g?

Can't imagine why it would gain in value to be honest...

Originally Posted by Pingparme

Hi OP, from my own experience, the value you get on flipping a watch really depends on who you sell it to. You will definitely loose money if you sell to a dealer as he/she needs to make a living. If you sell through forums, you need credentials. If you don't hold the watch long enough, the chances are that you might also loose some. It doesn't matter which brand you purchase, even Patek or Rolex (both reputed to be probably the top choices for retaining values), unless you are looking at purchasing hot "mass" items, everything else will be hard to predict. And the higher end you go, meaning the higher the price tag, the less people there are out there who can pick it up, and the market becomes a much smaller place.


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Very well said man

[srvrf]

I'll add my two cents here and say that while you have the funds to purchase it, it doesn't really seem that you can afford it based on your statement about it needing to hold value.

I've personally lusted after that watch and gold AP ROCs, etc., but when it comes down to it, I'm not at a time or stage where I feel comfortable spending that much for a single watch. In the event that you do have to sell, you easily could lose money and may even have to wait a considerable time to find a buyer. The pool of potential buyers of $40k Pateks is a lot smaller than the pool buying $5-10k Rolexes.


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[Hairdude1]

Get it because you want it no other reason

[Pingparme]

lapince, actually I need to clarify one point which I may have miscommunicated. Selling to dealers may not result in loosing money as I mentioned previously if you purchased at a good price and the item actually increased in value. But you will absoutely not receive full market value selling to a dealer. That was what I wanted to convey.


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