5370P , AD or grey market?

[Fishyfishy]

Guys. I am in love with this 5370 with its enamel , breguet number , manual winding split second .however , as stated in the title, This is a very tough question to me. As you can see 5370 isn’t perform very well but PP keeps raising price for this model so there is at least 100k USD difference between the AD and the Grey market .

Would you still purchase it through AD or will you just get it from Grey?

[Russell996]

Originally Posted by Fishyfishy

Guys. I am in love with this 5370 with its enamel , breguet number , manual winding split second .however , as stated in the title, This is a very tough question to me. As you can see 5370 isn’t perform very well but PP keeps raising price for this model so there is at least 100k USD difference between the AD and the Grey market .

Would you still purchase it through AD or will you just get it from Grey?

I have a 5370P purchased new by me from my AD in 2019. It is a beautiful piece, one of my favourites and probably due to recent price rises I would now get my money back.

The answer to your question will depend on your ongoing Patek collecting plans. You will save money currently going secondary and pick up a bargain that at some-point when discontinued I believe will appreciate. The 5370P is the lowest ranked piece made by Patek in its high grand comps department, it is double assembled and without doubt has superior finishing. So you are getting one of Patek's best which due to its complexity has to go back to Geneva to be serviced just like their minute repeaters.

If you wish to be considered by Patek for hard to get pieces in the future then a 5370P is a gateway piece and will count much more highly than anything not from the high grand comps department.
Neither route to acquire is wrong and at the end of the day you are getting a beautiful piece.

[Fishyfishy]

Originally Posted by Russell996

I have a 5370P purchased new by me from my AD in 2019. It is a beautiful piece, one of my favourites and probably due to recent price rises I would now get my money back.

The answer to your question will depend on your ongoing Patek collecting plans. You will save money currently going secondary and pick up a bargain that at some-point when discontinued I believe will appreciate. The 5370P is the lowest ranked piece made by Patek in its high grand comps department, it is double assembled and without doubt has superior finishing. So you are getting one of Patek's best which due to its complexity has to go back to Geneva to be serviced just like their minute repeaters.

If you wish to be considered by Patek for hard to get pieces in the future then a 5370P is a gateway piece and will count much more highly than anything not from the high grand comps department.
Neither route to acquire is wrong and at the end of the day you are getting a beautiful piece.

Other than normal sport model or minute repeater , how would they benefit for the watch collecting process if I purchase from AD?

[dauster]

Originally Posted by Fishyfishy

Other than normal sport model or minute repeater , how would they benefit for the watch collecting process if I purchase from AD?

Rare handcrafts annual releases and or special edition watches green dial nautilus etc baguette diamond 5167


Sent from my iPhone using Tapatalk

[Russell996]

Originally Posted by Fishyfishy

Other than normal sport model or minute repeater , how would they benefit for the watch collecting process if I purchase from AD?

Not sure I understand the question.

I can only speak for the UK, but the point I was making is that the 5370P is allocated by Patek, not your AD, so getting a new 5370P flags you at Patek. This might be totally unimportant to you (or you might already be on their radar) and as such the choice is then simply down to your watch collecting strategy and weighing up saving the money as opposed to getting a name on papers piece.

I would just say, it is only in recent times that any high end watch purchase has become anything but a money pit (sports included), yet many owners still make the choice to buy new without it being in order to get something else. However, as others have stated, if you are after the black dial version then you only have one route to purchase.

[1William]

Beautiful watch. I would go secondary for this piece and enjoy and save.

[johnsonsxusfrt]

MSRP: $297K + Tax
Secondary: $195K for blue / $189K for black

You're saving $100K purchasing grey. I can't imagine a scenario where it's worth buying this at retail, but what is your AD promising to deliver if you purchase this at retail? and are you 100% sure your AD will survive the continued cuts by PP long enough to deliver that piece?

[dbfagan]

If I was spending at that level, I would make sure to do it at a Patek boutique. It may require a flight to Geneva, Paris, or London but you will be building history with Patek directly not an AD that may go under. Total opinion on my part

[FrançoisCzapek]

Originally Posted by dbfagan

If I was spending at that level, I would make sure to do it at a Patek boutique. It may require a flight to Geneva, Paris, or London but you will be building history with Patek directly not an AD that may go under. Total opinion on my part

Have you actually done this?

[dbfagan]

Originally Posted by FrançoisCzapek

Have you actually done this?

No sir I have not. However I do not see a boutique turning away a customer willing to part with 6 figures just because they are not “local”.

[APhound]

I’d go grey on this. I would enjoy it more knowing I saved $100k on it. Some guys like to have their name on the papers. It’s meaningless to me.. Won’t judge you either way, but that’s what would I would do.


Sent from my iPhone using Tapatalk

[agsstructures]

Grey, the savings amounts to a Porsche 911. Can’t imagine a boutique purchase in this case unless you really need a glass of champagne.

[unotaz]

I would go grey market on this piece. That thing is a dog in terms of secondary value.

[GB-man]

If you’re about to spend 7 figures on pateks the next couple years then maybe carefully chose a boutique or retailer and work with them.

If this is sort of THE watch you’re seeking…I would go with a highly reputable grey.

[Fishyfishy]

Thanks everyone for the opinion !
Indeed I’d built enough history with my AD, having just 2 nautilus but with 7 other dress watches including grand complications like 5160/500g. They promised to give me sport watch in next few watches .

So 5370 isn’t the item I would buy for to build relationship with them as I don’t have that unlimited desire To get nautilus nor aquananut . 5370 is just something I would like to collect myself ( esp the black dial ). I believe 5204 is having th same situation as 5370. Indeed i have the answer in my mind but it’s really good to see i share the majority thought ! 5370 would be my next target to get for patek in 2025 !

[GB-man]

If you’re seeking the black dial secondhand is really the only answer unless an AD has one kicking around in the safe. I don’t blame you there. Love the black 5370!

[Ichiran]

Why do you buy your 7 dress watches from your AD if you know they tank 50% the moment you sell them?

[Fishyfishy]

Originally Posted by Ichiran

Why do you buy your 7 dress watches from your AD if you know they tank 50% the moment you sell them?

they did offer me some sport watch but I guess I am
A bit picky (eg I turned down their new offer of the new release 5164G)

And I cleared up my wish list back in 2022 for a year in order to wait for the green 5711 (although failed )

So they are chasing the sport watch to fill up the void now according to my AD.

[Ichiran]

Originally Posted by Fishyfishy

they did offer me some sport watch but I guess I am a bit picky (eg I turned down their new offer of the new release 5164G)

And I cleared up my wish list back in 2022 for a year in order to wait for the green 5711 (although failed )

So they are chasing the sport watch to fill up the void now according to my AD.

Then wouldn't the answer to your thread question be dependent on whether you want a Patek sport allocation like how it was for your 7 dress Patek?

[Fishyfishy]

Originally Posted by Ichiran

Then wouldn't the answer to your thread question be dependent on whether you want a Patek sport allocation like how it was for your 7 dress Patek?

they said would keep allocating me the sport watch (I am waiting 5811, 5261 and 5968) before further purchasing dress watch.

However I have no desire for other sport watches at this moment so that’s why I am thinking the 5370 issue .

[WatchingAustin]

Go to Patek directly if you are interested in more pieces, rare handcrafts, gem set pieces, potential 1 offs, etc.

Buy grey if you want to save money but know it could slightly set back the AD relationship you have built.

[ChetBaker]

Originally Posted by WatchingAustin

Go to Patek directly if you are interested in more pieces, rare handcrafts, gem set pieces, potential 1 offs, etc.

Buy grey if you want to save money but know it could slightly set back the AD relationship you have built.

How? There's no obligation to tell your AD about a grey purchase at all.

[Watchdoyouwant?]

This begs the question: does anyone know how Patek regards grey purchases of grand complications when considering an allocation? Would it matter if a collector bought several discontinued models? Does it move the needle at all?

[Fishyfishy]

By gathering all idea, I think the game has changed for hi end model

IMHO unless Patek is adjusting the price of hi end model like he did in 2015(?), otherwise I cannot see any attractiveness of tanking 100k usd for the same thing (except my name on the cert ) under such market .
At grey market I can get both 5204 and 5370 by adding a bit

[Ichiran]

Originally Posted by Fishyfishy

By gathering all idea, I think the game has changed for hi end model

IMHO unless Patek is adjusting the price of hi end model like he did in 2015(?), otherwise I cannot see any attractiveness of tanking 100k usd for the same thing (except my name on the cert ) under such market .
At grey market I can get both 5204 and 5370 by adding a bit

So are you getting the 5204 or 5370 soon? Pls post pics.

[Fishyfishy]

Originally Posted by Ichiran

So are you getting the 5204 or 5370 soon? Pls post pics.

not so soon due to budget concern. Plan to get either of them next year !I would post them once I get it !

[dauster]

Originally Posted by Fishyfishy

By gathering all idea, I think the game has changed for hi end model

IMHO unless Patek is adjusting the price of hi end model like he did in 2015(?), otherwise I cannot see any attractiveness of tanking 100k usd for the same thing (except my name on the cert ) under such market .
At grey market I can get both 5204 and 5370 by adding a bit

Apologies if I missed it but which 5204 are you wanting to add? I’m not a fan of the grey dial (discontinued) and now green version. I really like the classic RG and absolutely in love with the blue 5370 both are located in another dimension for me financially but man these are absolute end level pieces - I feel fortunate to be able to have tried them on over the years




Sent from my iPhone using Tapatalk

[Fishyfishy]

Originally Posted by dauster

Apologies if I missed it but which 5204 are you wanting to add? I’m not a fan of the grey dial (discontinued) and now green version. I really like the classic RG and absolutely in love with the blue 5370 both are located in another dimension for me financially but man these are absolute end level pieces - I feel fortunate to be able to have tried them on over the years




Sent from my iPhone using Tapatalk

I am a fan of 5204P black dial and the previous rose gold with brown dial

[dauster]

Originally Posted by Fishyfishy

I am a fan of 5204P black dial and the previous rose gold with brown dial

Ok black dial platinum is also amazing- I’m not sure about the brown dial have to check it out


Sent from my iPhone using Tapatalk

[Halothane]

Such a big price difference , I would go grey.


Sent from my iPhone using Tapatalk