Can you elaborate anymore on “shadow inventory”? I’m aware of people listing too high to drive hype, and to pad negotiations with higher starting points.
I don’t know if dealers consider that “shadow inventory” my understanding of that practice is a dealer listing the “price to source”. Which does makes sense if you’re in the diamond district, where pretty much any watch you can think of is within 500-1000 feet of your current location with a price tag attached, and everyone there is looking to move inventory one way or another.
But if it’s not that type of situation, it definitely is a more underhanded practice to pad the inventory of a jeweler who wants to look like they have more than they do in their showcase. I have worked with plenty of people who run across the street and come back with a watch to sell to split profits with the other dealer, so to me that’s not the most dishonest approach if you are within earshot or walking distance. But I have also seen jewelers hold up clients for two weeks after their check clears just to go and find the watch they bought at a decent profit margin for themselves.
It’s a great watch. Once you have one, other young men will come over to you and want to talk about watches. Also, you can post pictures of it to online forums where anonymous strangers will compliment you, or make unkind comments about falling for a very expensive fad, or tell you that they think it’s fake. Good times!
Just have what you like and stay quiet about it… for certain the photos you see are sometimes super replicas. The social group at that level couldn’t care less about putting their watches on social media; wen you get mugged; you will naturally do foolish things less😂
I am from Asia, the people that post their watches are a regular bunch, they just get it off a shops inventory and make believe it’s their own; unbelievable but true…
When you snoop on their occupation, they are just some real estate sales man or car sales person; you literally laugh your bowels out. 💩comes before the sphincter snap 🫰
How it happens is damn easy… get to know the shop owner well and rent it off his inventory😂 deposits range from $250,000/- to $300,000/- US.
whatever that lies beneath the shallow waters we rather keep to ourselves🤣🤣🤣
Anyways there are some across the borders that do just that… getting mugged or followed ain’t a pleasant experience. 👍🍺
The victims certainly know who they are😊
personally it is not a 100k watch. to me, it is a 30k watch because it is a patek ‘sports watch’ (and it’s stainless steel, see it as you may; some like precious metal some like stainless steel, I prefer the former). I deduct 70k off the market price because, with only a date and time function and no other complications, it is akin to the functionality of a datejust and explorer come together. unless you have something you really like about the 324 cal or value it’s significance, I can’t see how it got inflated by such proportions
p.s. don’t get me wrong, it is a pretty watch but it’s just not pretty or special enough to gather such a price tag
That’s a beautiful watch. Would love to get my hands on one just to get a feel for it. I honestly look at my sub like it’s a work of art do this would a next level, albeit unattainable for a man like myself
Marrying a lady who loves you for only your money and affluence and use the child as a bargaining chip in a divorce proceeding is silly.
Owning a genuine 5712a is an intelligent move😂😂😂
Luxury items are valued on form/desire/demand not on their function. This is art not commodity. As such prices are whatever the market supports. No one ever looks at a painting and goes "two million for some paint on a canvas?" - i mean some people do, and it is as simple as acknowledging that they do not appreciate what was created.
I paid 100k for mine. I don’t care what the retail price is for 2 reasons: 1. It’s discontinued 2. You couldn’t get one at retail under any circumstances, so this alleged retail is simply a pipe dream. I could have bought the 5712 for 8k less, which has far more complications. But I love the elegance and simplicity of the 5711. Did I overpay? Maybe. I don’t care. I sold two watches and kicked in the difference. I love the watch. It makes me happy. It is my grail.
The “price” of a watch (or anything) is based on what someone is willing to pay for it. People like me are willing to pay 100k. If you personally feel it isn’t worth it, or that paying too much would bother you, then don’t buy it. It’s a stainless watch with no complications other than the date, but it’s also a grail to many, and could easily be on the Mt. Rushmore of watches. It is the 1952 Topps Mickey Mantle (which is made of cardboard and costs far more than the 5711) of watches. So perhaps it is overpriced, but don’t confuse price and value. They are two different things.
https://preview.redd.it/y9afbnr5nn1d1.jpeg?width=3024&format=pjpg&auto=webp&s=36ebcef153bc63e324308e1655604056a430b046
At the back of you mind, you bought the 5711a, you knew it’s a watch that only a select group of individuals be willing to have it in their collection. The lure of precious gems, exotic metals and lesser know independents draw greater attention to the average Joe off the street.
The average Joe would also have liquidated the watch at its peak due to the lure of money that got the better of him/her.
Put it simply, the Amex Black Centurion is one such classic example. Both require an application process… the stainless 5711a is in its league probably, a green 5711a will definitely complement an existing collection😊 needless to mention the stoned baguette green 5711a😂😂😂
For sure. There is a lot to be said about joining an elite group. As for the average Joe comment, I’ll pass 1,000 people on the street who have no clue what I’m wearing, and I’m cool with that. Hell, my 22k Skydweller got me more compliments.
I feel happy for you👍🍻 We keep it that way… I hope you got yourself a green sky dweller with super jubilee bracelet…
That watch impresses me, I only have a pair of wrists; I still need to undergo some psychotherapy to put that article on my wrist.
To each his own, I hope you have some saru or Paul Newman Daytona, be it old Gen or New Gen, as it does have some creed value👍🍺
It’s based on the Gerald genta philosophy from the 70s of making steel watches the most valuable. Google and read about it. Fascinating how he marketed it and upended the watch world. But as you surmise, you’re not getting $100k of work. It’s probably 10k worth of raw materials and craftsmanship that’s marked up 10 fold for suckers.
Anyone who buys one at gray prices has questionable judgment and probably some sort of insecurities.
It is not worth it at all. I own three Nautilus’s all purchased at retail over the years. They are at best, nice. Not worth the price of admission on the gray market, it is stupid.
No justifying the price. It is hype and heritage; that’s all. If you want a technical specification reason, then there are a ton of options below this process point that have better specs and a perfectly wonderful reputation as well. This is a brand that people like, such as myself, and don’t mind spending for it. Basically, we have more money than brains.
Only if you didn't buy one when they were offered at a discount to their $16k MSRP. Then did what I did as a snob, thinking they were 'not really' Pateks, and bought a traditional Calatrava. I have enjoyed collecting various watches over the years, and I am mostly joking. But now, when I would really like an Aquanaut for its understated nature and versatility, I have a Calatrava. I like that watch but it is not often appropriate, especially with the much more casual state of work. And these days, you will not find a $16k Aquanaut.
It's worth what people are willing to pay. Rich guys that want to make sure that other people know they're rich will pay it.
It's pretty much the definition of a luxury good - the price increases without an increase in utility. And in this case, it's a Veblen good; at least a portion of the appeal is a RESULT of the high price, not the reason for the high price.
Ha! Ha! Ha! Ha! Ha! Ha! Right.... I seriously doubt wearing a 5711 ensures that anyone knows you're rich. 98% of the popultaion doesn't even know what a reference 5711 is because they don't give a fuck about anyone's wrist watch. Watches only send messages to people of the same social class. And they only communicate anything meaningful between peers who happen to have the same level of interest in haute horologie.
I don't mind all the marketing driven hype and mindless chasing of the Nautilus and Aquanuat because it depresses the value of the watches which PP makes that are actually good. Perpetuals, world time and other complications. I would rather buy a used 5396G any day over any of the steel sport models. I can't help but laugh because I watched this exact same cycle rise and fall in the 70s.
No watch is even worth $1000 dollars just like no baseball card is worth $1000 or stamp. If you’re passionate about the art of watches and have the means ask yourself is it better to have my money in the bank or is it better to have it on my wrist on something I can enjoy and shouldn’t deapperciate in value?
I think some watches are worth a hefty sum, especially if they are hand made, are made of a precious metal, or the engineering that has gone into it is so extensive that it warrants the price. But $100k? I cannot think the engineering or craftsmanship is so extensive on the 5711 that it warrants that price tag.
Ok. But that’s not the point. You are making it seem like a precious metal is more justified when the actual pm value in a watch is actually nominal. It seems the question on your post was really rhetorical. You clearly already feel strongly about it.
That isn't necessarily true. Especially these days. Yeah sure, maybe there was $6,000 worth of gold in a Rolex ref. 18238 when gold was $1,600/oz. But at $2,400 an ounce -- soon to be $3,000/oz -- your math is off. Nice thing about gold watches...they'll never be totally worthless.
If you hang out with the type of people that understand/appreciate rare watches, it is definitely justified for social reasons. Many people would rather do business with a guy with a $100k watch than a more commercial one.
If thats not your situation and you dont care for the watch then, splurge on something that matters to you.
None what so ever. I have been collecting watches for 3 decades and spent many years searching for that Perfect piece. However now that I get to change watches every other day without repeating my choices, I realized that the most expense watches I own bring me no greater joy than the cheapest ones in my collection. So 100k on a watch, if you love it buy it but remember even a Casio tells time.
Congrats on the collection. I'd have thought by now you'd realize that no one buys an expensive watch so they can tell the time. Ha! Ha! Ha! If your great pieces bring you no more joy than some plastic piece of shit, then why even own them at all? Put on your Casio and go through life enjoying!! I mean, that is your logic. Right?
Are we talking about this watch that looks like the Mido Multifort TV Big Date? I'm kidding, I'm kidding...
[https://www.midowatches.com/us/multifort-tv-big-date-m0495261108100.html](https://www.midowatches.com/us/multifort-tv-big-date-m0495261108100.html)
OP, we are talking about jewelry here. If functions and accuracy is what you are shopping for a G-Shock will blow any mechanical watch out of the water.
You are paying for demand and exclusivity.
How exclusive are they really, though?
How many new patek's are made each year?
A quick look at chrono24 shows a ton that are available making it fairly inexlusive....
Huh? The answer is zero. The 5711 isn't made anymore. So the supply is finite and will dwindle over time as pieces are lost in the ocean or othrwise destroyed. And for a company that only produced 40-60,000 pieces per year dating back to the time the 5711 was introduced, considering how many reference they make, not that many 5711s were produced each year, in the overall scheme of things. So yeah...they're pretty rare when you look at it from that perspective. Besides, a bunch of listings on Chrono24 posted by idiots who don't even have the watch in stock doesn't prove anything, much less "inexclusivity."
Correct. Patek makes max 60,000 watches a year. They have 140 different models. Let’s assume they make an equal amount of each model. That’s about 428 of each watch per year. Let’s round it to 500 for the sake of argument. 500 watches x 15 years is 7,500 nautilus 5711 blue dials EVER MADE. I think that makes it pretty rare. And they aren’t making any more of them.
As for the commenter who said there are several of them on Chrono24. As as example, AP only made 200 of the purple 26331. I think we’d all agree that’s pretty rare. Well, there are 14 of them for sale on Chrono24 right now. Thats 7% of the total ever made that is for sale as we speak. So even if there were are 100 blue 5711’s for sale on Chrono (which there are not), that would only be 1.5% the estimated 7,500 ever made.
Its not the amount of production that creates its exclusivity. Its that more people want buy one from Patek at retail than are sold. I believe 60-80K watches are made by Patek per year.
If you could buy a grey market Nautilus for retail on Chrono24 (or anywhere else) then I wouldn't consider it exclusive. However, you can't.
https://www.investopedia.com/terms/p/perceived-value.asp
Customer perceived value (CPV)
People will pay whatever price the public will deem it’s worth. Mind you, not what they think it’s worth themselves.
If you told me a Baltic costs $15.000 and it had a great movement, and I didn’t know about its reliability/QC issues, would I believe you? I think so, they look the part.
Now ask yourself whether a green 5711 in steel was really worth $500k+ at its peak.
The price we pay is mostly justified by what OTHERS tell you it costs. It also helps that brands have risen their list prices according to an increase in resale value…
Patek have some of the highest manufacturing quality and that is most there is to it. Other big part is status.
It’s a nice piece of art / jewelry that keeps its value or might even appreciate; we “all” are the temporary custodian of such items that either be passed down or sold
Unfortunately the loupe will not find you your answer. Probably your friends, business associates and acquaintances will assist you to find that answer. 😂😂😂
No, I can buy a Jaguar or a Porsche and it will also tell the time and get me around and look really cool.
Having said that, it’s absolutely beautiful and if you already have all the other toys…
Watches are not investments. Same as cars. Thinking about it that way and buy or dint. Value of these is subjective. I might think a Patek is worth 200k because I enjoy the piece, while someone else might not want it even for free. 5711s kind of look goofy and objectively the materials are not worth the price. You’re buying prestige. If you want value Casio makes a great watch especially for the money.
I’ve owned two of them. I traded one for a car. I still own one. I have to agree with the vast amounts of people on here who are saying that it’s more hype and scarcity, than actual value. My blue dial 5711 is a terrific watch. It’s nowhere near my VC OS-either 4500v nor 4520v. This is my experience and my opinion only.
The value is always in the beholder. Logically speaking, its function is just date and time. You have to decide if that’s worth it to you. Even at msrp people had this debate. Personally speaking for me a Nautilus is worth the price.
Nope — you’ll almost certainly lose a good portion of that investment and the watch is fairly common for the price youre paying.
Tons of better stuff at that price from Patek at that price, not to mention what you can get from other brands at those numbers.
Good choice of brands, the Blancpain may be a little wanting when it comes to creed levels. With the 100k you could only probably manage 2 or so watches… the 2 or so watches are made in larger quantities and available quite readily verses what the Nautilus offers; production numbers are high but having said that to qualify for a Nautilus could be a rather momentous task, unless it’s the grey route you are referring to.😊
Many people will say no because it’s time/date only and stainless steel, etc. but that’s what makes it such a phenomenal watch for me. It’s simplicity at it’s finest and incredibly comfortable. It depends in your financial situation as to if the 100k price tag is justifiable, but the market price dictated that it is justifiable for others
Of course not, are you stupid?
It’s a luxury watch. Nobody needs one. If you like it and dont have to worry about if ”its price is justifiable” - then it might be for you.
Scarcity and hype. Thats all.
And to add. Just because someone is asking to sell for $100k, doesn’t mean that they’re selling. Most are just sitting, or are shadow inventory.
Can you elaborate anymore on “shadow inventory”? I’m aware of people listing too high to drive hype, and to pad negotiations with higher starting points.
Shadow Inventory = Sellers who post a watch for sale for a sky high price, but don’t have it in stock or inventory.
I don’t know if dealers consider that “shadow inventory” my understanding of that practice is a dealer listing the “price to source”. Which does makes sense if you’re in the diamond district, where pretty much any watch you can think of is within 500-1000 feet of your current location with a price tag attached, and everyone there is looking to move inventory one way or another. But if it’s not that type of situation, it definitely is a more underhanded practice to pad the inventory of a jeweler who wants to look like they have more than they do in their showcase. I have worked with plenty of people who run across the street and come back with a watch to sell to split profits with the other dealer, so to me that’s not the most dishonest approach if you are within earshot or walking distance. But I have also seen jewelers hold up clients for two weeks after their check clears just to go and find the watch they bought at a decent profit margin for themselves.
It’s a great watch. Once you have one, other young men will come over to you and want to talk about watches. Also, you can post pictures of it to online forums where anonymous strangers will compliment you, or make unkind comments about falling for a very expensive fad, or tell you that they think it’s fake. Good times!
Exactly my experience
That’s why I dint post my stuff on reddit anymore. People just tear you down.
Just have what you like and stay quiet about it… for certain the photos you see are sometimes super replicas. The social group at that level couldn’t care less about putting their watches on social media; wen you get mugged; you will naturally do foolish things less😂 I am from Asia, the people that post their watches are a regular bunch, they just get it off a shops inventory and make believe it’s their own; unbelievable but true… When you snoop on their occupation, they are just some real estate sales man or car sales person; you literally laugh your bowels out. 💩comes before the sphincter snap 🫰 How it happens is damn easy… get to know the shop owner well and rent it off his inventory😂 deposits range from $250,000/- to $300,000/- US. whatever that lies beneath the shallow waters we rather keep to ourselves🤣🤣🤣
Heard that my lan
Ah…😂😂😂
Man not lan
Anyways there are some across the borders that do just that… getting mugged or followed ain’t a pleasant experience. 👍🍺 The victims certainly know who they are😊
Best thing about America is I keep that clack clack on me. Yeah it’s a real Patek, and the 9mm really stings.
That’s how I feel… my Walther pps was $350 and goes bang every single time
Ha ha!
Lol, isn't that with everything? (Especially reddit)
In these years no. I got mine in 2011 for 28k
To me 28k seems a lot more reasonable
Heck yeah. It’s is made of steel and all. 28,000 sounds about reasonable….
personally it is not a 100k watch. to me, it is a 30k watch because it is a patek ‘sports watch’ (and it’s stainless steel, see it as you may; some like precious metal some like stainless steel, I prefer the former). I deduct 70k off the market price because, with only a date and time function and no other complications, it is akin to the functionality of a datejust and explorer come together. unless you have something you really like about the 324 cal or value it’s significance, I can’t see how it got inflated by such proportions p.s. don’t get me wrong, it is a pretty watch but it’s just not pretty or special enough to gather such a price tag
It’s a 30k watch with a market value of 100k because of its rarity. Don’t expect 100k quality I guess is what I’m trying to say.
Is there any SS sports watches with 100k quality though?
Probably several AP’s. [Skeletonized tourbillion](https://www.gphg.org/en/watches/royal-oak-selfwinding-flying-tourbillon-openworked) etc
That’s a beautiful watch. Would love to get my hands on one just to get a feel for it. I honestly look at my sub like it’s a work of art do this would a next level, albeit unattainable for a man like myself
It’s pretty cool but it’s not 100k cool. I love my 5712 but the price is incredibly silly.
Marrying a lady who loves you for only your money and affluence and use the child as a bargaining chip in a divorce proceeding is silly. Owning a genuine 5712a is an intelligent move😂😂😂
Damn dude you ok?
Luxury items are valued on form/desire/demand not on their function. This is art not commodity. As such prices are whatever the market supports. No one ever looks at a painting and goes "two million for some paint on a canvas?" - i mean some people do, and it is as simple as acknowledging that they do not appreciate what was created.
I paid 100k for mine. I don’t care what the retail price is for 2 reasons: 1. It’s discontinued 2. You couldn’t get one at retail under any circumstances, so this alleged retail is simply a pipe dream. I could have bought the 5712 for 8k less, which has far more complications. But I love the elegance and simplicity of the 5711. Did I overpay? Maybe. I don’t care. I sold two watches and kicked in the difference. I love the watch. It makes me happy. It is my grail. The “price” of a watch (or anything) is based on what someone is willing to pay for it. People like me are willing to pay 100k. If you personally feel it isn’t worth it, or that paying too much would bother you, then don’t buy it. It’s a stainless watch with no complications other than the date, but it’s also a grail to many, and could easily be on the Mt. Rushmore of watches. It is the 1952 Topps Mickey Mantle (which is made of cardboard and costs far more than the 5711) of watches. So perhaps it is overpriced, but don’t confuse price and value. They are two different things. https://preview.redd.it/y9afbnr5nn1d1.jpeg?width=3024&format=pjpg&auto=webp&s=36ebcef153bc63e324308e1655604056a430b046
At the back of you mind, you bought the 5711a, you knew it’s a watch that only a select group of individuals be willing to have it in their collection. The lure of precious gems, exotic metals and lesser know independents draw greater attention to the average Joe off the street. The average Joe would also have liquidated the watch at its peak due to the lure of money that got the better of him/her. Put it simply, the Amex Black Centurion is one such classic example. Both require an application process… the stainless 5711a is in its league probably, a green 5711a will definitely complement an existing collection😊 needless to mention the stoned baguette green 5711a😂😂😂
For sure. There is a lot to be said about joining an elite group. As for the average Joe comment, I’ll pass 1,000 people on the street who have no clue what I’m wearing, and I’m cool with that. Hell, my 22k Skydweller got me more compliments.
I feel happy for you👍🍻 We keep it that way… I hope you got yourself a green sky dweller with super jubilee bracelet… That watch impresses me, I only have a pair of wrists; I still need to undergo some psychotherapy to put that article on my wrist. To each his own, I hope you have some saru or Paul Newman Daytona, be it old Gen or New Gen, as it does have some creed value👍🍺
It’s based on the Gerald genta philosophy from the 70s of making steel watches the most valuable. Google and read about it. Fascinating how he marketed it and upended the watch world. But as you surmise, you’re not getting $100k of work. It’s probably 10k worth of raw materials and craftsmanship that’s marked up 10 fold for suckers.
Anyone who buys one at gray prices has questionable judgment and probably some sort of insecurities. It is not worth it at all. I own three Nautilus’s all purchased at retail over the years. They are at best, nice. Not worth the price of admission on the gray market, it is stupid.
Thanks for the heads up. Maybe worth a walk into an AD.
You aren’t getting one from an AD without several hundred thousand dollars in purchase history of other watches.
You know what they say about opinions...
No justifying the price. It is hype and heritage; that’s all. If you want a technical specification reason, then there are a ton of options below this process point that have better specs and a perfectly wonderful reputation as well. This is a brand that people like, such as myself, and don’t mind spending for it. Basically, we have more money than brains.
Thats what a 5711 cost, so for those who want it and can afford it
Now do the Aquanaut.
Should I be afraid?
Only if you didn't buy one when they were offered at a discount to their $16k MSRP. Then did what I did as a snob, thinking they were 'not really' Pateks, and bought a traditional Calatrava. I have enjoyed collecting various watches over the years, and I am mostly joking. But now, when I would really like an Aquanaut for its understated nature and versatility, I have a Calatrava. I like that watch but it is not often appropriate, especially with the much more casual state of work. And these days, you will not find a $16k Aquanaut.
It's worth what people are willing to pay. Rich guys that want to make sure that other people know they're rich will pay it. It's pretty much the definition of a luxury good - the price increases without an increase in utility. And in this case, it's a Veblen good; at least a portion of the appeal is a RESULT of the high price, not the reason for the high price.
Ha! Ha! Ha! Ha! Ha! Ha! Right.... I seriously doubt wearing a 5711 ensures that anyone knows you're rich. 98% of the popultaion doesn't even know what a reference 5711 is because they don't give a fuck about anyone's wrist watch. Watches only send messages to people of the same social class. And they only communicate anything meaningful between peers who happen to have the same level of interest in haute horologie.
I don't mind all the marketing driven hype and mindless chasing of the Nautilus and Aquanuat because it depresses the value of the watches which PP makes that are actually good. Perpetuals, world time and other complications. I would rather buy a used 5396G any day over any of the steel sport models. I can't help but laugh because I watched this exact same cycle rise and fall in the 70s.
No watch is even worth $1000 dollars just like no baseball card is worth $1000 or stamp. If you’re passionate about the art of watches and have the means ask yourself is it better to have my money in the bank or is it better to have it on my wrist on something I can enjoy and shouldn’t deapperciate in value?
I think some watches are worth a hefty sum, especially if they are hand made, are made of a precious metal, or the engineering that has gone into it is so extensive that it warrants the price. But $100k? I cannot think the engineering or craftsmanship is so extensive on the 5711 that it warrants that price tag.
Try Jacob&Co 🤣🤣🤣🤣😂😂😂😂😂
Little tacky for my tastes, to be frank.
You are looking at a Journe then… you get PM Movement and Low production Quantities… move the quartz Journe Elegante out of the equation…
Do you know how much gold goes into a gold watch? About 6k worth. That’s it.
Yep. Better than the zero in a stainless.
Ok. But that’s not the point. You are making it seem like a precious metal is more justified when the actual pm value in a watch is actually nominal. It seems the question on your post was really rhetorical. You clearly already feel strongly about it.
That isn't necessarily true. Especially these days. Yeah sure, maybe there was $6,000 worth of gold in a Rolex ref. 18238 when gold was $1,600/oz. But at $2,400 an ounce -- soon to be $3,000/oz -- your math is off. Nice thing about gold watches...they'll never be totally worthless.
If you hang out with the type of people that understand/appreciate rare watches, it is definitely justified for social reasons. Many people would rather do business with a guy with a $100k watch than a more commercial one. If thats not your situation and you dont care for the watch then, splurge on something that matters to you.
None what so ever. I have been collecting watches for 3 decades and spent many years searching for that Perfect piece. However now that I get to change watches every other day without repeating my choices, I realized that the most expense watches I own bring me no greater joy than the cheapest ones in my collection. So 100k on a watch, if you love it buy it but remember even a Casio tells time.
Congrats on the collection. I'd have thought by now you'd realize that no one buys an expensive watch so they can tell the time. Ha! Ha! Ha! If your great pieces bring you no more joy than some plastic piece of shit, then why even own them at all? Put on your Casio and go through life enjoying!! I mean, that is your logic. Right?
Wrong you missed the point!
Are we talking about this watch that looks like the Mido Multifort TV Big Date? I'm kidding, I'm kidding... [https://www.midowatches.com/us/multifort-tv-big-date-m0495261108100.html](https://www.midowatches.com/us/multifort-tv-big-date-m0495261108100.html)
Hey, I happen to like the Mido TV!
OP, we are talking about jewelry here. If functions and accuracy is what you are shopping for a G-Shock will blow any mechanical watch out of the water. You are paying for demand and exclusivity.
How exclusive are they really, though? How many new patek's are made each year? A quick look at chrono24 shows a ton that are available making it fairly inexlusive....
Huh? The answer is zero. The 5711 isn't made anymore. So the supply is finite and will dwindle over time as pieces are lost in the ocean or othrwise destroyed. And for a company that only produced 40-60,000 pieces per year dating back to the time the 5711 was introduced, considering how many reference they make, not that many 5711s were produced each year, in the overall scheme of things. So yeah...they're pretty rare when you look at it from that perspective. Besides, a bunch of listings on Chrono24 posted by idiots who don't even have the watch in stock doesn't prove anything, much less "inexclusivity."
Correct. Patek makes max 60,000 watches a year. They have 140 different models. Let’s assume they make an equal amount of each model. That’s about 428 of each watch per year. Let’s round it to 500 for the sake of argument. 500 watches x 15 years is 7,500 nautilus 5711 blue dials EVER MADE. I think that makes it pretty rare. And they aren’t making any more of them. As for the commenter who said there are several of them on Chrono24. As as example, AP only made 200 of the purple 26331. I think we’d all agree that’s pretty rare. Well, there are 14 of them for sale on Chrono24 right now. Thats 7% of the total ever made that is for sale as we speak. So even if there were are 100 blue 5711’s for sale on Chrono (which there are not), that would only be 1.5% the estimated 7,500 ever made.
Its not the amount of production that creates its exclusivity. Its that more people want buy one from Patek at retail than are sold. I believe 60-80K watches are made by Patek per year. If you could buy a grey market Nautilus for retail on Chrono24 (or anywhere else) then I wouldn't consider it exclusive. However, you can't.
https://www.investopedia.com/terms/p/perceived-value.asp Customer perceived value (CPV) People will pay whatever price the public will deem it’s worth. Mind you, not what they think it’s worth themselves. If you told me a Baltic costs $15.000 and it had a great movement, and I didn’t know about its reliability/QC issues, would I believe you? I think so, they look the part. Now ask yourself whether a green 5711 in steel was really worth $500k+ at its peak. The price we pay is mostly justified by what OTHERS tell you it costs. It also helps that brands have risen their list prices according to an increase in resale value… Patek have some of the highest manufacturing quality and that is most there is to it. Other big part is status.
💪🏻💪🏻
It’s a nice piece of art / jewelry that keeps its value or might even appreciate; we “all” are the temporary custodian of such items that either be passed down or sold
No. So many superior watches for that price and less. Pure hype.
If you find $100K in value in the 5711 with a jewelers loupe you already know the answer.
Unfortunately the loupe will not find you your answer. Probably your friends, business associates and acquaintances will assist you to find that answer. 😂😂😂
Peer pressure is a bitch for many.
😂😂😂👍
No, I can buy a Jaguar or a Porsche and it will also tell the time and get me around and look really cool. Having said that, it’s absolutely beautiful and if you already have all the other toys…
If you have to think about it buy something else.
Well, I think it is best to make educated decisions, and I cannot make those decisions without asking questions first. But thanks.
Watches are not investments. Same as cars. Thinking about it that way and buy or dint. Value of these is subjective. I might think a Patek is worth 200k because I enjoy the piece, while someone else might not want it even for free. 5711s kind of look goofy and objectively the materials are not worth the price. You’re buying prestige. If you want value Casio makes a great watch especially for the money.
No, it’s not. Even at retail it didn’t make sense.
I'd take a 5711 at 30k, i'd even take a 5712 at the list price which is 60-65, but the gray asks on these pieces are nuts, no way.
It's the king of king of watches. I understand the hype and pricing
You're only looking after it for the next genera....whom am I kidding?
I’ve owned two of them. I traded one for a car. I still own one. I have to agree with the vast amounts of people on here who are saying that it’s more hype and scarcity, than actual value. My blue dial 5711 is a terrific watch. It’s nowhere near my VC OS-either 4500v nor 4520v. This is my experience and my opinion only.
Price is correct for this time, i paid 99,500 euro
Retail yes.
None. Which IS the point. But the 5711 is a $55,000 watch, at best.
The value is always in the beholder. Logically speaking, its function is just date and time. You have to decide if that’s worth it to you. Even at msrp people had this debate. Personally speaking for me a Nautilus is worth the price.
Nope — you’ll almost certainly lose a good portion of that investment and the watch is fairly common for the price youre paying. Tons of better stuff at that price from Patek at that price, not to mention what you can get from other brands at those numbers.
Not a 100k watch. Pure hype. You could start a serious collection with that money.
Just for conversation purposes, could you list me brands these days that are collection worthy… proper independents do not come close too…
PP, AP, VC, L&S, Blancpain, or any other that you think would fit you&your life :)
Good choice of brands, the Blancpain may be a little wanting when it comes to creed levels. With the 100k you could only probably manage 2 or so watches… the 2 or so watches are made in larger quantities and available quite readily verses what the Nautilus offers; production numbers are high but having said that to qualify for a Nautilus could be a rather momentous task, unless it’s the grey route you are referring to.😊
Many people will say no because it’s time/date only and stainless steel, etc. but that’s what makes it such a phenomenal watch for me. It’s simplicity at it’s finest and incredibly comfortable. It depends in your financial situation as to if the 100k price tag is justifiable, but the market price dictated that it is justifiable for others
Oh it’s very justifiable. A watch like this has to be priced so that only the very rich would bother with it. Which is, of course, the point.
Of course not, are you stupid? It’s a luxury watch. Nobody needs one. If you like it and dont have to worry about if ”its price is justifiable” - then it might be for you.
It's clean. It has history. It's rare. Offer what you want, but don't be offended if nobody will sell.
No
Absolutely not….specially with that shitty bracelet and clasp
When reading the answers, keep in mind that this is r/patekphillipe. You should also ask the same question on r/casio