The Watch Appreciation Thread - Part two (Rolex, Patek Philippe, Audemars Piguet, Jaeger LeCoultre,

[Krish the Fish]

Good luck! The blue dial SS Sky Dweller is supposedly one of the hardest Rolex watches to get.

Thanks! I’m willing to wait, and I’m unwilling to pay over retail so I guess that makes me need that willingness to wait. My current watch rotation is a 114300 rhodium dial OP, a Tank LC WGTA0011, IWC x The Rake bronze Pilot, and 2254.50 seamaster so I think the skydweller would fit nicely in the mix, more so than the sub. But beggars can’t be choosers and I’m well aware of my begging status

 

[Dino944]

Interesting and tragic story:

Stopped by my AD today to put my name down on the “list” for the 6711 (unconfirmed reference number). Sadly, they’re losing Patek and now I’ll likely not get one - ever - unless I want to drop $100,000 or more with another Patek dealer or pay close to that for a secondary market Nautilus (will do neither).

Now... How’d they lose the account? That’s the real story. While monitoring secondary markets, as Patek and Rolex always do, Patek spotted a desirable Nautilus reference on a grey market dealer’a website. They traced the certificate and found out that my AD sold it to a customer days before. In other words, they caught a ******* flipper loser ****, and now my AD is fucked, and my Patek expansion dreams along with it. I ******* hate flippers.

Wow, seems like a rather draconian measure if it was a single instance. I wonder if it has happened several times involving this same AD, and finally Patek got tired of it. Really sorry to see that you lost your in for a new Patek "6711." Its really frustrating to build a good relationship with an AD only to have other people screw it up for the rest of us.

 

[Dino944]

Ferrari does this with some of their limited production models.

Of course, as mentioned already, it’s a matter of tracking.

With Ferrari they punished the flippers not the dealerships. I believe it wasn't just with their limited editions, it was basically any of the high demand 2 seat cars. At least as of a few years ago, in the US they made people sign a contract giving the dealership the first right of refusal to buy the car back if a buyer wants to sell within (I believe the first year or two). They handled flippers who violated their policies by suing to enforce the contract, and also by putting the flippers names on a "Do not sell list." Meaning once you got caught flipping -no Ferrari AD would sell you a new car ever again.

Tracking is probably easier though with these cars. They go in for at least an oil change/service every year, and the cost of service for the first 7 years at an authorized dealership is included in the purchase price of the car. So the minute the second buyer shows up for service, Ferrari knows a sale has happened. Watches typically don't need to be serviced for several years.

 

[beargonefishing]

For some reason I still remember the license plate the blond right guy had on his corvette on Beverly Hills 90210. It was I8A4RE.

 

[Texasmade]

With Ferrari they punished the flippers not the dealerships. I believe it wasn't just with their limited editions, it was basically any of the high demand 2 seat cars. At least as of a few years ago, in the US they made people sign a contract giving the dealership the first right of refusal to buy the car back if a buyer wants to sell within (I believe the first year or two). They handled flippers who violated their policies by suing to enforce the contract, and also by putting the flippers names on a "Do not sell list." Meaning once you got caught flipping -no Ferrari AD would sell you a new car ever again.

Tracking is probably easier though with these cars. They go in for at least an oil change/service every year, and the cost of service for the first 7 years at an authorized dealership is included in the purchase price of the car. So the minute the second buyer shows up for service, Ferrari knows a sale has happened. Watches typically don't need to be serviced for several years.

It also helps that cars have to be registered while watches don't.

 

[Phileas Fogg]

With Ferrari they punished the flippers not the dealerships. I believe it wasn't just with their limited editions, it was basically any of the high demand 2 seat cars. At least as of a few years ago, in the US they made people sign a contract giving the dealership the first right of refusal to buy the car back if a buyer wants to sell within (I believe the first year or two). They handled flippers who violated their policies by suing to enforce the contract, and also by putting the flippers names on a "Do not sell list." Meaning once you got caught flipping -no Ferrari AD would sell you a new car ever again.

Tracking is probably easier though with these cars. They go in for at least an oil change/service every year, and the cost of service for the first 7 years at an authorized dealership is included in the purchase price of the car. So the minute the second buyer shows up for service, Ferrari knows a sale has happened. Watches typically don't need to be serviced for several years.

isn’t that because they bought straight from Ferrari?

Kevin O’Leary, whatever one wants to think of him, is on record as saying he gets his watches straight from the source and would consider it a betrayal of trust if he sold the watch or otherwise flipped it. He also said he’s upfront about whether the watch is for himself or a gift.

I suppose the allure of making a buck is pretty high and strong. It just seems like an odd way to do it as one would burn bridges very quickly.

 

[Dino944]

It also helps that cars have to be registered while watches don't.

True, plus the dealer network has the original buyers name in their computer system.

Also the market for new Ferraris is smaller than that of new Pateks and Rolex watches. In a local region, people in the business often know who owns or originally bought certain cars as the specs are often unique. Dealers often host several car events and they attend a lot of car events, thereby seeing who has the cars they sold.

isn’t that because they bought straight from Ferrari?

Kevin O’Leary, whatever one wants to think of him, is on record as saying he gets his watches straight from the source and would consider it a betrayal of trust if he sold the watch or otherwise flipped it. He also said he’s upfront about whether the watch is for himself or a gift.

I suppose the allure of making a buck is pretty high and strong. It just seems like an odd way to do it as one would burn bridges very quickly.

Yes, its because they bought a car from a Ferrari dealership.

Personally, I've never understood the allure of buying and flipping a watch for what is often a modest profit. For example, if you buy a steel Daytona for around $13K and sell it for say $26K the next day. You made $13K. You can't even buy a new Toyota Corolla for that. Even if someone bought a new Patek 5711 and flipped it the next day, clearing a nice nest egg of more than twice the MSRP, generally people that can afford these have a reasonably high income and a high standard of living, so it isn't as if the flipper can retire by selling it. Sure you can use the money for other things. However, as you said, you will burn a lot of bridges and eventually you won't be able to get products to keep and wear or to flip.

 

[Ambulance Chaser]

President Biden wore a Rolex Datejust to his Inauguration yesterday. Even the POTUS doesn't have the pull to buy a SS Rolex sports model without a pre-existing relationship with an AD.

 

[mak1277]

President Biden wore a Rolex Datejust to his Inauguration yesterday. Even the POTUS doesn't have the pull to buy a SS Rolex sports model without a pre-existing relationship with an AD.

I, for one, am happy that he wore what he wanted, and didn't go for something cheap (ahem, Clinton, Obama) just to not appear wealthy.

 

[Texasmade]

President Biden also owns an Omega Speedmaster Pro and Seamaster Pro. Nice collection of watches that aren't super high-end.

 

[9thsymph]

Looking forward to Biden rocking a white gold Daydate. He won't, of course, but that would be cool...

 

[Phileas Fogg]

I, for one, am happy that he wore what he wanted, and didn't go for something cheap (ahem, Clinton, Obama) just to not appear wealthy.

Well, when Clinton and Obama came to office they didn’t have money. Joe did.

Politics aside, he’s always been a snappy dresser. His casual outfits are always pretty formulaic but his suits are well cut.

It will be nice trying to spot what watch he’s wearing when in public.

 

[LA Guy]

President Biden also owns an Omega Speedmaster Pro and Seamaster Pro. Nice collection of watches that aren't super high-end.

A Misokoshi Speedmaster is my daily wearer (Though honestly, I haven't worn a watch in a while).

 

[LA Guy]

I, for one, am happy that he wore what he wanted, and didn't go for something cheap (ahem, Clinton, Obama) just to not appear wealthy.

A Datejust or Speedmaster are not really expensive watces. They are well within the reach of most moderately affluent people. It's not as though he made a show either way, either by wearing a Casio or a rainbow Daytona.

 

[Texasmade]

A Misokoshi Speedmaster is my daily wearer (Thohgh honestly, I haven't worn a watch in a while).

Modded Speedmaster or a true Mitsukoshi?

My daily was my Seamaster 300M Pro (about 4 years) until I got my AP RO 15400. I wore that nearly everyday for about 3 years. Since C19, I've been mainly wearing my Seamaster or Speedy FOIS.