Wednesday, November 14, 2018

Buying a Patek Philippe



Buying a Patek Philippe is a life time investment. I must take it seriously.

Buying a Patek Philippe watch isnt simple as just you have the money or a diamond credit card. 

For the most intricate styles, called Grand Complications, or the popular Nautilus and Aquanaut sport models, potential buyers must submit to an application process. The Stern family, which has owned the company since 1932, reviews each application to judge whether a prospective owner has a proven track record with the company and appreciates the fine craftsmanship of each timepiece.
In Hong Kong, only known few of my friends had successfully bought a Nautilus Ref 5712 and Ref 5711.
If you are a doctor, artists, movie star, business man, professor would be an easier way to be qualified as the buyer. The process is to leave you name card at any Patek Philippe shop and name the model
You want, they will submit to the general Manager in the Hong Kong head office to evaluate if they would sell it to you at SRP. 
Friend of mine has successfully obtained a Ref 5712R on his birthday Dec 2017 even with less ten percent discount! That was his best birthday gift! So if yuh can not get it within z6 months of two years. You may go to buy from open market with a premium. 

The auction route isnt much easier. Patek Philippe easily beats all other fine watchmakers when it comes to record-setting hammer prices, and pieces continue to appreciate in value, as much as 100 times the original price. Its estimated that less than one million watches have been produced since the company was founded over 175 years ago, whereas Rolex makes close to one millions watch within the years 2006. Even Rolex has reduced their production volume. Rolex still
Produces as many as 800,000 watches in 2017.

This making Patek Philippe watches among the rarest timepieces on the market.
With all the hoop-jumping required to buy the real thing, there is some fake stuff in the market.

What are the telltale signs a Patek Philippe is fake?

Firstly, many fake watch does have extra printed function on the dial whereas authentic Patek doesnt have.

For example, platinum Patek Philippe watches carry a distinctive single diamond setting between the lugs at 6 oclock. The brand does not expose the Tourbillon complication or even balance wheels, outside of skeletonized versions, and with the exception of rare, limited edition pieces, Patek Philippe does not use eponymous casebacks. 

Contrary to a lot of other high-end Swiss watches A Lange Jaeger Lecoutle, Patek does not blue their screws. Many counterfeits have blue screws. Simply you can see blue screw. Those are Fake Patek!

Looking at the movement of a Patek Philippe, we expect to see only the highest quality bevelling and fine hand-finishing.

Each one takes about four to twelve months of production, totaling between 50 to 200 separate assembly process, and after each step the parts are cleaned in an ultrasound bath with special
Cleaning agents. 

All modern Patek Philippe watches use sapphire crystals. The texture often found on the dials and bezels is not stamped, but will be done by hand using a technique known as guilloché. 

Most of these unique elements of quality are requirements of the Geneva Seal, as an independent Swiss agent, known for their mark of quality excellence.

Patek Philippe keeps all reference numbers and serial numbers within the watch. The watchs reference number and serial number are engraved on the inside of the caseback. 

On Patek Philippe with sapphire crystal casebacks, the movements serial number and the calibre number can be seen. The watchs reference and serial are still contained on the inside of the caseback. 

Fake Patek Philippes will often have model or serial numbers visible directly on the caseback. Depending on the age of the timepiece and the type of movement, the case should be stamped with either the Geneva Seal or their own Patek Philipe seal.

What distinguishes Patek Philippe from other watchmakers?
Precision Patek Philippe has mastered the art of fine watchmaking and their standards set them apart from their competitors 

Patek Philippe is still family-owned company. The independence for unlimited freedom and passion on design. Highly tradition and retaining good values.

Start to do your research and purchase a Patek for you and your family members now! 


Patek Philippe timepieces are always a classic!

HK Snob 

5 comments:

Anonymous said...

Thank you for sharing.
But isn't it also true that the service / maintenance fees are very high and hinder its capability as an investment?

HK Snob said...

Not at all
First of all PP has a super fine movement.
The duration between two service is longer than you can expect.
Second I used to have master doing Patek overhaul service for me!
Not because of money but I can get the watch much faster!
In Patek a watch like this will take you three months for overhaul!

HK Snob said...

Not at all
First of all PP has a super fine movement.
The duration between two service is longer than you can expect.
Second I used to have master doing Patek overhaul service for me!
Not because of money but I can get the watch much faster!
In Patek a watch like this will take you three months for overhaul!

Kenny said...

Hi, i have 18348 rolex day date i want to sell for cash as I need emergency fund my wife is very sick. Do you have any suggestion where I can sell the watch to for best price? I need to sell it today. If you have wechat contact we can connect faster.

Kenny said...

Hi, i have been reading your blong for quiet some time. This might be a long shot but. i am currently travelling in Hk and I need emergency funds as my family member is having illness. I need to sell 18348 rolex day date from 90’s today. Do you have any suggestion where I should take it to. Or you know anyone would buy for top dollar? I have been to pawn shops and watch stores they were offering 80000 range which i see it retails for 100k-120k depends on shops. Watch only no paper. Mint condition. Please help me. I will pay comission to you. Wechat id would be fastest or email works as well. Thank you

Kenny