Velociphile's Journey into Watches

Adhoc stuff about wristwatches. The technology of horology, escapements and patents to the industry and the market. Try me in Japanese or Chinese

Wednesday, July 05, 2006

Patek Price Benchmark? Massive Discounts? What is going on?

2 for 1?

To the point as ever, Dario discusses Patek price/value equation as a benchmark standard here.
There are several "fellows" out there ....... asking real fortunes for a lot of show and very, very little history. I don't question their excellence, but it is inevitable that I compare their price-tag to Patek or Rolex. .........I ...... consider them good points of comparison when it comes to pricing.

......this "meter" of mine seems to be way off lately, because I just can't agree with some of the prices out there.
I agree despite the inevitable hyping of some of Patek's range and the holding up of its brand equity by hook or by crook. However, at more modest levels (say <$30k) It occured to me that in the latest hunt I have been noticing some really eyepoppingly cheap pieces. I have seen things selling for nearly 60% discount. Not just 'unpopular stuff,' you know, NOS fodder of the future, I mean some pretty desirable items. The prices are 'buy one get one free' levels.... Maybe it's a weak dollar or maybe a sign of something else. The 'normal' level of discount seems to have also shifted to around 40% off. Suggests to me that you can open at way less than half price in your bargaining, but you should be doing that already! More intriguingly, even 'just released' popular items are up to 30% down.

I don't think the bubble will burst though, just slowly go soft. I think the market will split into fragments with the high/super-high end continuing up and only the mid range and below (I mean <$30k) will begin to suffer. Only watches with real intrinsic value content are going to see this out and you don't want to be left holding any overpriced fashionabelle-in-the-pan-watch.

2 Comments:

  • At July 06, 2006, Blogger KronosClub said…

    I guess that one of the reasons might be the unrealistic prices. Or could it be that we are in a "golden age" and there just is too much stuff out there? In the end I can't really find something I like or for huge discounts. Most of the stuff out there at huge discount I am not interested in anyway, unless you have a Double Split at 60% off...:-B

    Careful! When I read that you have the "itch" and you mention 60% discounts I would like to remind you of a TYPICAL male behavior. WE have the tendency, sometimes, to buy according to discounts regardless if we like or need the item. That just happened to me today when I bought a portable GPS at 50% discount. Do I need a portable GPS? No. Do I feel stupid? No, but my girlfriend does... and I do have the feeling that she might be right on this one.

    Keep us updated on what you will scratch that itch with! Good luck and happy hunting.

     
  • At July 06, 2006, Blogger Velociphile said…

    "WE have the tendency, sometimes, to buy according to discounts regardless if we like or need the item."

    Absolutely! However, I think I have a better than average recognition of that, and take forever to choose anything like this anyway. But yes, one's initial reaction is "Crikey, look at that, get one....!"

     

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