Patek resales

[ssnet]

I hear people talk about the tremendous resale values ("the best") of Patek Phillippe watches yet they seem to be discounted at grey dealers as much or more than some other high-end brands.

No doubt very nice watches with a great history but where are the high resales? The older watches? Only select models?

[Welshwatchman]

You got it right with the "select models" comment.

Certain models, 3970 / 5960 / 5970 / 5980 etc are bloody nice watches, extremely expensive and made in tiny numbers. Demand is higher than supply and premiums are paid.

When Patek changed the Worldtimer designs the older model's residuals took a turn for the better also.

[rpryan55]

Here is the story on all the resales of all these watches, and why they cost so much now. Read this and become an AD's worst nightmare: http://online.wsj.com/article/SB119178753176051433.html

[haakon59]

While I haven't seen PP watches discounted "more" than other brands, I have seen them many times with discounts. To get a watch which winds up being a collectors item which makes you money later you have to:

1. Predict what watch tastes will be 30 years into the future.
2. Understand how trends will progress between today (when you buy the watch) and then, so you will know exactly when the fashion of collecting will return to seeing the value of your current piece.
3. Have high workmanship to begin with (doesn't necessarily mean expensive, but high workmanship and quality).
4. Pay manufacturers money to keep them from producing newer models of the same one you just bought today. (OK, so I am kidding about this one because this would obviously eliminate the profit.)

Some people are good at guessing these things, but even then, it is likely that only 1 or 2 of their very good guesses wind up actually being a winner for them.

If it were me, I would wear my Patek for the enjoyment of it's craftsmanship and I would do this before I was dead, rather than put it in the safe. Sure, part of life is money, but another part is enjoying the fruits of money too.

[Mort]

If it were me, I would wear my Patek for the enjoyment of it's craftsmanship and I would do this before I was dead, rather than put it in the safe. Sure, part of life is money, but another part is enjoying the fruits of money too. [/QUOTE]

I agree with you 100%. I wear my Patek all the time in the same fashion I wear my Rolex's. Yes I may not swim or hammer nails wearing one, but I still enjoy and wear it in my rotation. I feel it is a shame to buy anything that one has worked hard to get, and put it away and never enjoy it.