Watchfinder driving market prices upwards in a pretty despicable way, IMHO. Who buys from them? Fair question.
https://www.watchfinder.co.uk/Patek%...38fec3d&rank=2
What on earth is going on here? Yes I know it's supply and demand but....wow!
Watchfinder driving market prices upwards in a pretty despicable way, IMHO. Who buys from them? Fair question.
Retail price £25,960
Our price £94,950
Lol
A fool and his money…
I am not sure if they are being bought at these prices.
If they are, then good for the dealers and the buyers. I would never buy at these inflated prices but am not unduly worked up, if some do.
“That’s sick. How much? Naked or complete?” (Or is that the other channel?)
You are right, there is money sloshing around, £25 or £100 Gs to the very wealthy, probably makes no difference. What else are they going to spend it on? Taxes for universal health care?
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Patek have been trading above for some time, factor in they make a lot less and modes either DC'd of expect to the prices has gone up further.
The Platinum Daytona is just following the overall rolex market. Gone are the days of WF having it at retail or below.
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.....
Last edited by SteveM112; 4th July 2021 at 13:27.
That kind of money for the super rich is just drop in ocean.
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Once things go over retail its a silly game played by those impressed by the value not the object. I know the majority of people who buy the ‘desirable/exclusive/over RRP watches want them because they are expensive only and perceive they will profit from them.
To truly profit from an item you need to enjoy it and disregard what its worth, Ive worn (through previous job) Platinum Daytona’s, 5711’s, etc for extended periods, when they were £45k and £15k respectively I didnt see the value and would not have spent my own money on them so the willy waving price inflation only serves to confirm why I wouldn’t want one personally and those impressed by the value are slightly deluded, materiel focussed and possibly quite shallow. So the saying goes ‘How do you know there’s a Patek 5711 owner in the room?, Oh he will tell you!’
Theres literally waves of people who brought a Daytona for £11k sold it for £15k who now wish they had kept it to sell for £25k and likewise with 5711’s and there’s also a load of people who wish they had brought one when they were cheaper but seriously they never wanted them, if they did they would not have sold them regardless of price and if they really wanted one they would have brought one when cheaper. If a 5711 was £3k no one would be interested.
RIAC
"Owning one is almost as satisfying as making one." ~ Rolex 1973
I see the "guaranteed buy back for what you paid in 2 years" offers have all evaporated - probably what started the asset/trinket blurring/speculation in the first place.
My friend bought two of these (one for him, one for a friend) at 30% discount from a UK AD around 6/7 years ago
He paid around £35k. Identical watch. Probably on the old old guarantee (does that make it more valuable?)
The world needs its head checked
Green Dial Nautilus 5711 Madness
https://thetruthaboutwatches.com/202...-5711-madness/
"Owning one is almost as satisfying as making one." ~ Rolex 1973
Called at a shop yesterday and the owner wasn't wearing his 2006 Kermit but had on a 2007 casino royale PO he had got that week. Told me the shop he got it from had obtained a Patel Travel time new for a customer and it was selling for over 120k
Take a look at the prices of the PM nautilus (40th anniversary one)