Discounts from Patek ADs

[Dr.Teatime]

Gents,
I'm a (relatively) new addition to this forum, and I've loved seeing the discussions.

I'm curious to see if Patek ADs offer discounts and, if so, how much?
I'll qualify by saying that I know/ understand the typical issues, how long the AD had a piece in stock, type of piece etc...

I'm specifically asking about the 5130r, 5712a, 5164a and 5167. These are relatively high demand pieces. So I'm curious if a discount can be obtained.

Thanks for the help

[texex91]

How long have you known your AD?

How many pieces have you purchased from your AD?

What PP pieces have you previously purchased from that AD?

Outside of that you have alternatives such as grays and used market.

Good luck with your hunt.

0-30% based upon your answers.

[incontrol]

Originally Posted by texex91

How long have you known your AD?

How many pieces have you purchased from your AD?

What PP pieces have you previously purchased from that AD?

Outside of that you have alternatives such as grays and used market.

Good luck with you hunt.

Agree with Paul!

[Dr.Teatime]

Can one expect 30% on 5712, 5164 & 5130?
Just curious

Thanks

[jonathan17]

Originally Posted by Dr.Teatime

Can one expect 30% on 5712, 5164 & 5130?
Just curious

Thanks

Straight answer will be No for a 5712a, not even the gray market can offer you such discount.

[Defiancekofb]

Originally Posted by Dr.Teatime

Can one expect 30% on 5712, 5164 & 5130?
Just curious

Thanks

Any Patek SS model is probably 5-10% discount max. PM you can get a higher discount.

Originally Posted by Kittayos

The only reason that you will get such discount is if you buy some big pieces that are difficult to sell. You can ask an AD for a favor in this case.

A friend of mine bought 5370p and 5204p in June this year at full retail price. Only get back in tax refund. AD in return promised to offer him eight 5712r's, one 5575g and a wait list on 5131r expecting to receive in 2017. This AD received nine 5712r this year and apparently 8 of them is gone to my friend. Each time he received them 4 pieces + 4 pieces. I even took a pic of them all. Patek would be pissed knowing this. He sold both 5204p and 5370p with some loss, but gained some money back on 5712r and a few more other references which I can't remember.

This whole Patek market is really screwed up I'm telling you. There are endless people like this and you can never stop them as long as AD wants to sell.

Hey if I was a salesman and could sell close to $300k in watches in one transaction, I would do it. to your friend, I wish I had that kind of coin.

[Defiancekofb]

Originally Posted by Dr.Teatime

Gents,
I'm a (relatively) new addition to this forum, and I've loved seeing the discussions.

I'm curious to see if Patek ADs offer discounts and, if so, how much?
I'll qualify by saying that I know/ understand the typical issues, how long the AD had a piece in stock, type of piece etc...

I'm specifically asking about the 5130r, 5712a, 5164a and 5167. These are relatively high demand pieces. So I'm curious if a discount can be obtained.

Thanks for the help

It depends on the piece and what material it's made of. Most of the steels literally fly out the door or have a long waiting list. So you will pay list on those, but for PM there's a good chance you could get a discount on them.

[Kittayos]

The only reason that you will get such discount is if you buy some big pieces that are difficult to sell. You can ask an AD for a favor in this case.

A friend of mine bought 5370p and 5204p in June this year at full retail price. Only get back in tax refund. AD in return promised to offer him eight 5712r's, one 5575g and a wait list on 5131r expecting to receive in 2017. This AD received nine 5712r this year and apparently 8 of them is gone to my friend. Each time he received them 4 pieces + 4 pieces. I even took a pic of them all. Patek would be pissed knowing this. He sold both 5204p and 5370p with some loss, but gained some money back on 5712r and a few more other references which I can't remember.

This whole Patek market is really screwed up I'm telling you. There are endless people like this and you can never stop them as long as AD wants to sell.

[jon_jon]

Originally Posted by Kittayos

The only reason that you will get such discount is if you buy some big pieces that are difficult to sell. You can ask an AD for a favor in this case.

A friend of mine bought 5370p and 5204p in June this year at full retail price. Only get back in tax refund. AD in return promised to offer him eight 5712r's, one 5575g and a wait list on 5131r expecting to receive in 2017. This AD received nine 5712r this year and apparently 8 of them is gone to my friend. Each time he received them 4 pieces + 4 pieces. I even took a pic of them all. Patek would be pissed knowing this. He sold both 5204p and 5370p with some loss, but gained some money back on 5712r and a few more other references which I can't remember.

This whole Patek market is really screwed up I'm telling you. There are endless people like this and you can never stop them as long as AD wants to sell.

I think Patek wants to limit gray market dealers because of situations like this. They want to sell pieces directly to end clients and not to resellers. Unfortunately the market is not perfect and there will always be a gray market in one form or another.

[KarlS]

Originally Posted by jon_jon

I think Patek wants to limit gray market dealers because of situations like this. They want to sell pieces directly to end clients and not to resellers. Unfortunately the market is not perfect and there will always be a gray market in one form or another.

I agree and certain geographies like the UK very tough on end purchaser and discounts, whereas other markets there appears to be considerable wriggle room. Grey dealers I believe have a role in the pre owned market but when they can carve a niche for themselves in the primary market something ain't working!

[KarlS]

Originally Posted by Kittayos

The only reason that you will get such discount is if you buy some big pieces that are difficult to sell. You can ask an AD for a favor in this case.

A friend of mine bought 5370p and 5204p in June this year at full retail price. Only get back in tax refund. AD in return promised to offer him eight 5712r's, one 5575g and a wait list on 5131r expecting to receive in 2017. This AD received nine 5712r this year and apparently 8 of them is gone to my friend. Each time he received them 4 pieces + 4 pieces. I even took a pic of them all. Patek would be pissed knowing this. He sold both 5204p and 5370p with some loss, but gained some money back on 5712r and a few more other references which I can't remember.

This whole Patek market is really screwed up I'm telling you. There are endless people like this and you can never stop them as long as AD wants to sell.

How can he promise a 5575G when the last was delivered some time ago and it's a LE with Geneva allocating to the buyer not the AD? Something wrong with the story

[lapince]

Originally Posted by KarlS

I agree and certain geographies like the UK very tough on end purchaser and discounts, whereas other markets there appears to be considerable wriggle room. Grey dealers I believe have a role in the pre owned market but when they can carve a niche for themselves in the primary market something ain't working!

Well it's not only PP all brands have tons of unworn pieces on chrono24, but yes it is strange when very in demand pieces are found unworn or even sealed on the grey market, how is that even possible

Originally Posted by KarlS

How can he promise a 5575G when the last was delivered some time ago and it's a LE with Geneva allocating to the buyer not the AD?

Have a hard time understanding that as well, but to be honest the dealer is a fox, 2 expensive pieces sold at retail, 8 5712R's, not the 1A, so not super in demand pieces, for a discount, probably good since the guy sold them for a profit, and a promise for a 5575 and a 5131 for 2017, promise which IMHO will never be fulfilled...

[Russell996]

Originally Posted by Kittayos

The only reason that you will get such discount is if you buy some big pieces that are difficult to sell. You can ask an AD for a favor in this case.

A friend of mine bought 5370p and 5204p in June this year at full retail price. Only get back in tax refund. AD in return promised to offer him eight 5712r's, one 5575g and a wait list on 5131r expecting to receive in 2017. This AD received nine 5712r this year and apparently 8 of them is gone to my friend. Each time he received them 4 pieces + 4 pieces. I even took a pic of them all. Patek would be pissed knowing this. He sold both 5204p and 5370p with some loss, but gained some money back on 5712r and a few more other references which I can't remember.

This whole Patek market is really screwed up I'm telling you. There are endless people like this and you can never stop them as long as AD wants to sell.

It is behaviour like this AD's (assuming story is correct) that Patek's new policies are designed to stop. If my understanding of the UK policy is being rolled out Worldwide then soon this won't be possible.
Being promised a 5575G and a 5131R?


Sent from my iPad using Tapatalk

[Kittayos]

Originally Posted by Russell996

It is behaviour like this AD's (assuming story is correct) that Patek's new policies are designed to stop. If my understanding of the UK policy is being rolled out Worldwide then soon this won't be possible.
Being promised a 5575G and a 5131R?


Sent from my iPad using Tapatalk

Can never be stopped imo. I guarantee you. Even Wempe does this but such stories never roll out to you. A load of 5146 and calatrava never get to sell out. So, if one guy shows up with tight relationship to a manager or someone higher in that AD and commits to buy 7 of them At once, don't you think Wempe does in turn have to compensate or give something special to that particular customer. This is after all better than returning it to Patek in Geneva. Many dead models are obstacles to most ADs even with deep discount.

Anyway, the only thing that Patek can stop the grey dealers is pumping out tons more of popular models, so that the price outside the AD has little or zero premium due to supply and demand. Taking names or submitting names before buying is a joke imo. Most AD I know even advise me you can just bs on the list of what you own or make up a story of what you are currently doing.

440 ADs in total. Yes, you can control them but that is just a minority.

Let the free market run and enjoy what you wear. Perfect competition.

[Russell996]

Originally Posted by Kittayos

Can never be stopped imo. I guarantee you. Even Wempe does this but such stories never roll out to you. A load of 5146 and calatrava never get to sell out. So, if one guy shows up with tight relationship to a manager or someone higher in that AD and commits to buy 7 of them At once, don't you think Wempe does in turn have to compensate or give something special to that particular customer. This is after all better than returning it to Patek in Geneva. Many dead models are obstacles to most ADs even with deep discount.



Anyway, the only thing that Patek can stop the grey dealers is pumping out tons more of popular models, so that the price outside the AD has little or zero premium due to supply and demand. Taking names or submitting names before buying is a joke imo. Most AD I know even advise me you can just bs on the list of what you own or make up a story of what you are currently doing.



440 ADs in total. Yes, you can control them but that is just a minority.



Let the free market run and enjoy what you wear. Perfect competition.

We will see. I applaud Patek for trying to improve the situation, they have to start somewhere.


Sent from my iPad using Tapatalk

[kilyung]

I've gotten deep discounts on all my PPs but I've spent $$$$$ at their store.

[masyv6]

Originally Posted by kilyung

I've gotten deep discounts on all my PPs but I've spent $$$$$ at their store.

That's the best way to get a big discount!

[KarlS]

I got a wallet once

[AK797]

Originally Posted by KarlS

I got a wallet once

Very ironic gesture once they've robbed you of all your cash.

I think 10% is possible on 5712 and 5164. Probably nothing on the 5167.

[KarlS]

Originally Posted by AK797

Very ironic gesture once they've robbed you of all your cash.

I think 10% is possible on 5712 and 5164. Probably nothing on the 5167.

Maybe I can sell it!!!

[Defiancekofb]

Originally Posted by KarlS

I got a wallet once

Show us pics the wallet. Or it never happened.

[kultschar]

8 5712rs? Crazy stuff!

Kind of makes sense why im struggling to get a 5167 or SS 5712 from an AD but the greys can get them in :(

[KarlS]

You didn't explain how he got offered a 5575 from an AD in the last 2 months

[Kittayos]

Originally Posted by KarlS

You didn't explain how he got offered a 5575 from an AD in the last 2 months

For 5204p, he got four 5712r, one 5711/1a.
For 5370p, he received four 5712r, one 5575g (this AD apparently holds it for quite some time before releasing it and it can still be named). We all understand that a customer name has to be sent out to Geneva and Patek there will print it and send back a certificate. Well, that's how things work out in this case. He's is still selling it at the moment for 105k USD double sealed to be exact.

5370p is picked up around March and he sold it in late April with a considerable loss. While committing to get 5204p, he asked the AD to hold it for 3-4 months, so he could find a customer who's willing to pay for big piece.

The plan didn't turn out to be as expected. He lost the money on both pieces. Eight of the 5712r and one 5711/1a are used to compensate the loss on both pieces. Basically, his 5575g is the one that will yield him some profit and of course his 5131r in 2017.

I don't want to go much into details. I am just sharing a story that might interest some of you. If not, I have no intention to fool around or talk gibberish. What's the point for doing that anyway. My annual salary can afford both 5204p and 5370p easily, so I consider myself quite a quality guy here. This guy is a super closed friend of mine. We have been trading a lot of Patek in the past few years.

5131r requires a deposit of 20% and can't guarantee when it will be delivered but the AD expects around some time in 2017. You gotta consider that who would pay these 2 pieces in full retail price with zero discount but tax refund. Would you do that? It's a fair deal for both parties in my view. AD can't find a customer at a price that want to sell, so grey market handles the case.

Believing it or not depends on how much you involve in the world of grey market. That's all I can say.

[Dr.Teatime]

Thanks to everyone for their comments.
A local jeweler was able to source a 5164 at 15% off through some jewelers network.
So, I guess the grey / free market will remain strong.
I'd like to support our local AD (which is a smaller family business) if the price was close. But, I wasn't sure if I would be obnoxious to ask for a discount on these particular references. Clearly, they move well and are unlikely to burden his showcase for too long.

[kultschar]

Originally Posted by Dr.Teatime

Thanks to everyone for their comments.
A local jeweler was able to source a 5164 at 15% off through some jewelers network.
So, I guess the grey / free market will remain strong.
I'd like to support our local AD (which is a smaller family business) if the price was close. But, I wasn't sure if I would be obnoxious to ask for a discount on these particular references. Clearly, they move well and are unlikely to burden his showcase for too long.

Not bad I guess on the 5164 but I guess the least popular of the ones mentioned!

[Defiancekofb]

Originally Posted by Dr.Teatime

Thanks to everyone for their comments.
A local jeweler was able to source a 5164 at 15% off through some jewelers network.
So, I guess the grey / free market will remain strong.
I'd like to support our local AD (which is a smaller family business) if the price was close. But, I wasn't sure if I would be obnoxious to ask for a discount on these particular references. Clearly, they move well and are unlikely to burden his showcase for too long.

You might as well give it a shot and ask. Worst case scenario they say no and you buy it from a gray dealer.

[jon_jon]

Originally Posted by Dr.Teatime

Thanks to everyone for their comments.
A local jeweler was able to source a 5164 at 15% off through some jewelers network.
So, I guess the grey / free market will remain strong.
I'd like to support our local AD (which is a smaller family business) if the price was close. But, I wasn't sure if I would be obnoxious to ask for a discount on these particular references. Clearly, they move well and are unlikely to burden his showcase for too long.

If you are buying more than one piece, definitely ask for a discount. The worst they can say is no. In general smaller ADs located in non-metro areas have a harder time moving certain pieces and may be more willing to work with you on pricing.

[martinr]

What is Patek doing shipping the AD nine 5712R's in a year? That's just dumb and they're asking for them to be sold to a grey dealer. Also, do we really want to eliminate the grey dealers? They offer good prices and make the AD's offer discounts to compete.

[KarlS]

Originally Posted by martinr

What is Patek doing shipping the AD nine 5712R's in a year? That's just dumb and they're asking for them to be sold to a grey dealer. Also, do we really want to eliminate the grey dealers? They offer good prices and make the AD's offer discounts to compete.

Wish I could believe the story!