Audacious, arrogant, obscene? Call it what you will, but Patek Philippe increasing prices on Nautilus Steel models by 20% overnight, is going to violently ruffle some feathers.
This week, retailers around the world have been informed that current stock of select Nautilus models, and of course future stock, will see outrageous price hikes. Collectors around the web have already begun to report on confirmed increases with screenshots coming out of Malaysia showing prices for the elusive 5711/1A (Steel Nautilus Navy Dial) rocketing from 98,600 MYR (AUD$32,436) to 118,300 MYR (AUD$38,917) – an increase of 19700 MYR of AUD$6481!
The particular watch in question has a local wait list of roughly six years and is considered to be one of the hardest, if not the hardest watch in the world to obtain. The particular watch in question is already overpriced, a steel three-hander for $33k, now $39k, it’s preposterous.
The second-hand market for Patek and Rolex has reached a state of utter lunacy, with folks happy to part with $50k plus for 5711/1A and $27k for a Ceramic Daytona (more than $10k above retail). I saw one listed and sold on the same day for $56k! What’s worse is that Patek has observed these fools and capitalised on it, and people will still line up to buy it!
Congratulations if you already own one of the watches in question, as its value just went through the roof, but I just can’t stomach the arrogance from Patek. This isn’t boutique level Lange making 3500 watches a year; it’s Patek Philippe making 35000 watches a year, sold on every corner of Hong Kong’s streets.
Christ people it’s just a steel watch that says Patek Philippe on the dial. This ‘must have at all costs’ consumption of brands is bordering on revolting. The brands clearly have too much power, and we must regain it. Unfortunately, that requires some individuality, and obviously some sanity.
The gorgeous photo featured was taken by Mr Andy Green, you can follow him on Instagram here.