The Challenge: Choosing a Patek AD to work with. How does one choose?

[CastorKrieg]

Originally Posted by daOnlyBG

Unfortunately, I'm inclined to agree.

The closer I look, the more I struggle to see why one would pursue any relationship with a Patek Philippe AD in the first place (yes, I know- this makes my original question moot). Perhaps 5-6 years ago it made sense, but today, I do wonder- the prices on everything they have in the showcase has at least a $10K instant depreciation, and for other models, even higher. By the time you've spent enough cash on timepieces (let's say, what, 10-12 pieces?) you could have taken your losses and bought the Nautilus you've always wanted.

That is actually a really good post that uses good, old, solid economics to help people decide. If you really love Patek and many of their watches it makes sense to build a relationship with an AD in hopes of scoring a hot piece (then again - nobody says a trend for SS sport watches will not turn in 5-10-15 years and Nautilus will still be displayed freely in a display case).

But if you are only after that one 5711, 5712, or other hot piece (and you plan on wearing it no matter the value and market perception) - it is probably wiser to just take the hit and buy one on the grey market.

[daOnlyBG]

Originally Posted by Fleetlord

+1

Sometimes I read through these threads and I wonder what the expectations are without actually BUYING anything.

You're absolutely right. If a person desires Patek, then go to the Patek AD and start actually buying Patek's...

Originally Posted by Fleetlord

This is a very important point.

There seems to be this perception that the "whales" who get all the "good stuff" are just wasting their money on "undesirable" watches to achieve purchase status.

This is usually not the case. The people spending all the money, like...actually WANT all those Pateks...so spending the money is very, very easy for them as they are committed to the brand and don't see it as wasteful spending at all..

It's very hard to compete against those who are buying many Patek organically, especially if one is only after the "hawt" stuff...

Fleetlord- with due respect, of course- your comments are missing the point of the conversation entirely.

I'm not asking "how does one get an Aquanaut at MSRP" but rather "how does one select a Patek dealer they can trust"- and eventually "what's the point of even going through an AD if the cost-benefit analysis doesn't make sense at all."

With Rolex, if your AD ends up giving you the runaround or get really finicky on delivering your so-called "grail piece," no problem- you can just find another AD and though it might take a little more time/money, you can eventually get a decent relationship going again.

With Patek, let's be honest- it's easier said than done, and it's not even said "easily" anyway. For the vast majority of people (yes, that includes people who love all of the Patek lines and are passionate about the heritage itself) losing out on the purchase history of 2-3 watches (and all the depreciation that comes with them at MSRP) is just downright tough.

And then there's the topic of depreciation, which many others on the thread have understood what I'm getting at: forget which models I want, or whether my disposable income is $50K or $500K. At the end of the day, what benefit does buying through the AD grant you when it's still cheaper to buy on the secondary market?

And to be fair, some have proposed answers: (1) some Patek ADs will still discount, (2) the considerably wealthy who do pay MSRP do it to be part of some exclusive club, and (3) being part of that "exclusive club" means the manufacturer will eventually grant you some bespoke service.

And to those perfectly valid responses, I say "Great."

[daOnlyBG]

Originally Posted by Dr Process

I really liked what you said here.
...
For what it’s worth, I have heard (so please take with a grain of salt) that Patek will do bespoke pieces for high end clients. Again, total hearsay.

Originally Posted by CastorKrieg

That is actually a really good post that uses good, old, solid economics to help people decide. If you really love Patek and many of their watches it makes sense to build a relationship with an AD in hopes of scoring a hot piece (then again - nobody says a trend for SS sport watches will not turn in 5-10-15 years and Nautilus will still be displayed freely in a display case).

But if you are only after that one 5711, 5712, or other hot piece (and you plan on wearing it no matter the value and market perception) - it is probably wiser to just take the hit and buy one on the grey market.

Thank you both for the kind words.

Just so people don't lose sight of the thread's motivation: I'm actually not interested in any Aquanaut and I'm not enthused by the Nautilus's recent iteration. People often forget that what's in demand changes- and a random piece that's sitting in the window today might be hyped up in the future, or the brand might come out with a new model that people hoard almost immediately. I don't have a crystal ball.

When those situations do arise, I just want to be able to trust that the dealer that I've spent money with won't disappoint.

[Mini2]

Originally Posted by jamestucker

Now you can buy them for less than 40K

Where?
I would love a world time 010 for sub 40k

[GeraldGentaFan]

It also depends on where you live and how many PP dealers are around. I live in an area with many ADs within 2h driving, and over the years have bought with all of them. Yes, I spend a lot of money on watches, but mainly on Patek and Rolex sports models.

I don’t believe in buying with just one AD. I would buy some cheaper watches, Rolex, Breitling, JLC...at various Patek ADs and also ask to be put on the list for the Pateks you like. See how your relationship evolves with the various ADs, and maybe then select, or like me, keep on buying with all of them.

I actively buy at 6 ADs in the same country and it is no issue whatsover.

[Xerxes77]

If you want a relationship with an AD now in this time then need to be prepared for the worst because let’s be honest, every AD have many requests for Nautilus and Aquanaut. Also if you try to buy a watch who they know you don’t want it just to be put on the list for Nautilus I don’t know is the best solution. Because they will know when you sell it and this will not look good in your history.
My AD when give me 5726 blue dial in 2020 with no history told me like this(she was the owner)”I can’t control anybody if they sell his watch after they leave the store, but Patek will know because they keep evidence with all customers”…..,
I think you must read and learn from everyone who write what was good in them story.
It’s not impossible but it’s very hard right now to start a relationship with an AD now also because Patek cut every year more AD and they need to trust in you when they decide to give you a hot piece. Because if you sell it maybe Patek will consider the AD know you are a seller and AD will loose Patek.
I don’t know but maybe Patek want to take the strategy from AP who cut all AD and remain only AP Boutiques. In this scenario they will control all Patek market and the price will be skyrocket…..
I don’t know…… but one thing it’s clear…. You need to try…..nobody can tell you a magic move…..
I wish you good luck!

[ganiccus]

Is this just an exercise in futility OP? I'm not challenging your passion for the hobby but what is your actual watch collection as of right now? In the first post you made 4 years ago, you said you didn't have the income or status to spend 10k for a Rolex watch, so unless you won the lottery in the meantime and judged by your responses in this thread, it seems very unlikely that you are wealthy enough to afford any Patek without stretching you bone dry.

[77T]

Originally Posted by daOnlyBG

Just so people don't lose sight of the thread's motivation: I'm actually not interested in any Aquanaut and I'm not enthused by the Nautilus's recent iteration. People often forget that what's in demand changes- and a random piece that's sitting in the window today might be hyped up in the future, or the brand might come out with a new model that people hoard almost immediately. I don't have a crystal ball.

When those situations do arise, I just want to be able to trust that the dealer that I've spent money with won't disappoint.

This is confusing - we should not lose sight of your motivation?

1. You’re not interested in any Aquanaut.
2. You’re not enthused with the recent Nautilus.
3. Some unnamed piece in the window may be hyped in the future.
4. Patek may come out with a new model people hoard immediately.

But you want “to trust that the dealer that I've spent money with won't disappoint.”

What, pray tell would you have spent your money buying at a Patek AD?




Sent from my iPhone using Tapatalk Pro

[Xerxes77]

Originally Posted by 77T

This is confusing me - we should not lose sight of your motivation?

1. You’re not interested in any Aquanaut.
2. You’re not enthused with the recent Nautilus.
3. Some unnamed piece in the window may be hyped in the future.
4. Patek may come out with a new model people hoard immediately.

But you want “to trust that the dealer that I've spent money with won't disappoint.”

What, pray tell would you have spent your money buying at a Patek AD?




Sent from my iPhone using Tapatalk Pro

Good point

[daOnlyBG]

Originally Posted by ganiccus

Is this just an exercise in futility OP? I'm not challenging your passion for the hobby but what is your actual watch collection as of right now? In the first post you made 4 years ago, you said you didn't have the income or status to spend 10k for a Rolex watch, so unless you won the lottery in the meantime and judged by your responses in this thread, it seems very unlikely that you are wealthy enough to afford any Patek without stretching you bone dry.

Haha, fair enough. Circumstances have changed a lot since then, and I've changed, as well- no lottery needed. I intend to make my first Patek purchase either later this year or early next year- so no, I don't view this as an "exercise in futility" but rather due diligence.

To that end, the questions I'm asking in this thread stand on their own: (1) how does one find a Patek Philippe dealer they can trust, and (2) does it even make sense to buy through the AD?

Both questions are income/budget-agnostic, and despite the responses of several here, I'm thankful that most members caught onto the questions earlier in the thread and provided really good, helpful insight.

[de66]

Originally Posted by daOnlyBG

Hello all.

If you were scoping out several Patek Philippe authorized dealers to choose one that you'd buy from to build your collection- what type of Patek AD would you look for? Any "green flags" as well as "red ones"? Anything you'd ask the AD during your first meet?

See, with Rolex, if one AD wears you out... you can just move onto the next one. From what I understand, Patek Philippe is a little different- you don't want to switch ADs unless you really have to, as I understand the manufacturer keeps a closer eye on who buys what, where.

So, I want to be sure I'm going my diligence before choosing one Patek dealership.

Thanks in advance!

If you have the luxury of choice then choose one that is interested in YOU and one that is (or has staff) that are actually in love with watches.

[daOnlyBG]

Originally Posted by 77T

This is confusing - we should not lose sight of your motivation?

1. You’re not interested in any Aquanaut.
2. You’re not enthused with the recent Nautilus.
3. Some unnamed piece in the window may be hyped in the future.
4. Patek may come out with a new model people hoard immediately.

But you want “to trust that the dealer that I've spent money with won't disappoint.”

What, pray tell would you have spent your money buying at a Patek AD?

I'll try to clear it up for you.

I'm asking how people here choose ADs that they can trust, to help them build/grow their collections. The two local (to me) Rolex/Patek Philippe ADs have developed a notoriety and reputation for sleazy antics and general malfeasance, even among their own loyal customers. I don't intend to make this thread into a "rant" against some ADs (there seems to be no shortage of such posts), so I framed the question into "how does one find a good Patek AD?" I figured many could benefit from that discussion.

A few entries after my original post, I also asked whether it makes sense to buy from the AD altogether, given significant depreciation of whatever's in the showcase, and I mentioned the 5711 for the sake of argument to show that even if one were to buy a 5711, it would be surprisingly cheaper to do so on the secondary market.

If you're asking me what I wish to buy, the answer is easy: I really like the 5196P, despite (what I feel are) a couple shortcomings- and I also really like the 5212A Weekly Calendar. If I were buy the former through an authorized retailer, I would hope that the dealer would look out for me once a 5212A comes along. Current practices at the ADs local to me suggest that they might not.

[Russell996]

Originally Posted by daOnlyBG

I'll try to clear it up for you.

I'm asking how people here choose ADs that they can trust, to help them build/grow their collections. The two local (to me) Rolex/Patek Philippe ADs have developed a notoriety and reputation for sleazy antics and general malfeasance, even among their own loyal customers. I don't intend to make this thread into a "rant" against some ADs (there seems to be no shortage of such posts), so I framed the question into "how does one find a good Patek AD?" I figured many could benefit from that discussion.

A few entries after my original post, I also asked whether it makes sense to buy from the AD altogether, given significant depreciation of whatever's in the showcase, and I mentioned the 5711 for the sake of argument to show that even if one were to buy a 5711, it would be surprisingly cheaper to do so on the secondary market.

If you're asking me what I wish to buy, the answer is easy: I really like the 5196P, despite (what I feel are) a couple shortcomings- and I also really like the 5212A Weekly Calendar. If I were buy the former through an authorized retailer, I would hope that the dealer would look out for me once a 5212A comes along. Current practices at the ADs local to me suggest that they might not.

Have you said where you live? You might get some recommendations based on personal experience if we know where you are based.

[David001]

Originally Posted by daOnlyBG

If you're asking me what I wish to buy, the answer is easy: I really like the 5196P, despite (what I feel are) a couple shortcomings- and I also really like the 5212A Weekly Calendar. If I were buy the former through an authorized retailer, I would hope that the dealer would look out for me once a 5212A comes along. Current practices at the ADs local to me suggest that they might not.

I don't think either are hard to get? Just go in and ask for them. For those watches and values I wouldn't bother sucking up to anyone, if the AD isn't playing then I'd happily buy grey if I wanted them.

I kept asking my AD for a 5196g but he didn't come through, I'd previously bought the J from him and wanted a white gold one as well, so in the end I bought one from a grey dealer with a $5k discount. The SA asked where I got it when he saw it and I told him honestly that if he won't sell me what I want then I'll go somewhere where they will. He tried a lot harder after that.

I'm old fashioned so I'm not too worried about trust or building a loving relationship with a bloke that owns a shop, I just want a mutual exchange of respect and value where he gives me a watch and I give him some money.

This business of nuzzling up to the ear of an assistant in a shop and telling him how wonderful he is and how in love with Patek you are just to buy a watch is not really my cup of tea. Someone should start an App, perhaps WatchTinder

[Mini2]

Watchfinder ��

[JSCP]

It’s more about you than them.

Know about Patek, at least basics, and history.
Then select the type of watches you like and why?

Patek is about refinement, classic, you carry a Patek, you “respect” it. You live it. it’s you(r) watch.

[Mini2]

Originally Posted by Mini2

Watchfinder ��

Meant to say watchtinder **