Trying to to buy a "mega-watch". Budget £40,000. Help!

[CKQC]

drainbrain said:

It is indeed and the op could have had it at the lower price if he'd responded to the email from the seller he requested to be put in touch with.

But as that seller said, "his loss".

Hi DB, I was very grateful to get in touch and I did. Unfortunately, the email went to my junk and I didn't see it till the next day. I hope I haven't offended you in any way, that was not my intention and thank you again.

Perhaps not the worst outcome in a way, as my preference is for a 5940J (not G, but I'd consider one if it was at a price I couldn't refuse).

Some lovely pictures here. http://www.watchprosite.com/page-wf.forumpost/fi-1...

Edited by CKQC on Saturday 4th November 20:18

[drainbrain]

CKQC said:

Hi DB, I was very grateful to get in touch and I did. Unfortunately, the email went to my junk and I didn't see it till the next day. I hope I haven't offended you in any way, that was not my intention and thank you again.

Edited by CKQC on Saturday 4th November 20:18

Absolutely no problem to me and certainly no offence. Seller wasn't bothered as he got the price from the dealer. And anyway, as you say the wg 5940 wasn't your preferred choice anyway.

[CKQC]

Quick question.

If I were to buy a watch in Germany and bring it into the UK, would there be duty to pay on it at customs? I would want to make the mistake of not factoring that in, or worse still, end up getting stopped at customs because I didn't know the rules.

My understanding is that you walk through the green channel as long as it is for yourself?

https://www.gov.uk/duty-free-goods/arrivals-from-e...

Edited by CKQC on Sunday 5th November 10:33

[PJ S]

Nope, you’ll have already paid VAT in Germany, albeit at 19%, but hopefully the discount negotiated will offset the 1.5% difference and travel costs.

[220]

PJ S said:

Nope, you’ll have already paid VAT in Germany, albeit at 19%, but hopefully the discount negotiated will offset the 1.5% difference and travel costs.

VAT hasn't been 17.5% in years he's actually 1% better off.

[sad61t]

It will be interesting to see what happens next year. Back to the days of buying duty free on EU mainland and then having to go through the red channel?

[PJ S]

220 said:

VAT hasn't been 17.5% in years he's actually 1% better off.

You’re right – don’t know what the hell I was thinking!
Monumental brain fart… just put me out to pasture or turn me into glue!

[Nijius Maximus Nain]

CKQC said:

So in sum, I can walk thought the green channel like a boss! Just need to find a watch now...

Any luck my friend? I'm looking for a watch myself and have just finished reading this thread...

Did you follow through and buy something?

[Armitage.Shanks]

Nijius Maximus Nain said:

CKQC said:

So in sum, I can walk thought the green channel like a boss! Just need to find a watch now...

Any luck my friend? I'm looking for a watch myself and have just finished reading this thread...

Did you follow through and buy something?

Probably followed through after his mum swung open the curtains in his bedroom to wake him up with a cup of tea.

[Nijius Maximus Nain]

Armitage.Shanks said:

Probably followed through after his mum swung open the curtains in his bedroom to wake him up with a cup of tea.

I'm hoping this whole thread wasn't just one big wind up (pun intended)....

[Tresco]

has been an interesting thread which I sense is genuine.

[Doofus]

Tresco said:

has been an interesting thread which I sense is genuine.

I don't

[CKQC]

Tresco said:

has been an interesting thread which I sense is genuine.

Thank you Tresco, it is a pity that you even had to say that. Good to see certain posters living up to the forum names though - fit for the toilet and not very bright indeed.

Nijius Maximus Nain said:

I'm hoping this whole thread wasn't just one big wind up (pun intended)....

Ha, pun appreciated.

As I have consistently done, I will ignore the "PH standard" jealous have-nots/pricks that infect this forum, but I'm happy to to answer your genuine question.

I have come close but still haven't bought. I bid on this watch http://www.sothebys.com/en/auctions/ecatalogue/201... at Sothebys which showed me that these watches are potentially overpriced on the open market. I am biding my time till another one comes up at an auction or the open market has a price adjustment. Even with the buyer's premium, the watch is cheaper at auction by some way than the sellers on places on like Chrono24, let alone WoS. This particular watch had full papers, letters of authenticity and a further 16 month left on the warranty. It sold at USD 35,000 which was bang on the upper estimate (the price of USD 43,000 you see is the price with BP). It was a very useful exercise for me to see where the "true" value of a used watch lies.

I love these watches, but they are not popular (I can't understand what the obsession with the Nautilus is about, to the cost of any other PP), so the market will correct itself and the equilibrium price will eventually reflect supply and demand. I'm not going to be the mug who pays well over the odds, when I have evidence that these can be bought for less. In fact, a couple of (unauthorised) dealers have been in touch offering new watches at much reduced prices, so perhaps, the market correction is already underway. The PP 5040 is a similar shape and that is now trading at the £20k level. This is a superior watch, with a superior movement, but it is an indication that £60,000 new (and not much less used/old stock) doesn't seem to be holding up.

I'm not in a hurry to buy, because I want to "buy right", so I'll get there in time and will update when it happens. Some people on here have beenvery helpful.

This thread has been a great help in generally discussing thoughts with enthusiasts and settling on my choice of 5940.

Edited by CKQC on Tuesday 9th January 16:21

[PJ S]

^
Maybe knock off another £2-3K to make up for no warranty remaining and cover the cost of a service in a year or two?

https://www.chrono24.co.uk/patekphilippe/quantieme...

[dimots]

CKQC said:

Ha, pun appreciated.

As I have consistently done, I will ignore the "PH standard" jealous have-nots/pricks that infect this forum, but I'm happy to to answer your genuine question.

I have come close but still haven't bought. I bid on this watch http://www.sothebys.com/en/auctions/ecatalogue/201... at Sothebys which showed me that these watches are potentially overpriced on the open market. I am biding my time till another one comes up at an auction or the open market has a price adjustment. Even with the buyer's premium, the watch is cheaper at auction by some way than the sellers on places on like Chrono24, let alone WoS. This particular watch had full papers, letters of authenticity and a further 16 month left on the warranty. It sold at USD 35,000 which was bang on the upper estimate (the price of USD 43,000 you see is the price with BP). It was a very useful exercise for me to see where the "true" value of a used watch lies.

I love these watches, but they are not popular (I can't understand what the obsession with the Nautilus is about, to the cost of any other PP), so the market will correct itself and the equilibrium price will eventually reflect supply and demand. I'm not going to be the mug who pays well over the odds, when I have evidence that these can be bought for less. In fact, a couple of (unauthorised) dealers have been in touch offering new watches at much reduced prices, so perhaps, the market correction is already underway. The PP 5040 is a similar shape and that is now trading at the £20k level. This is a superior watch, with a superior movement, but it is an indication that £60,000 new (and not much less used/old stock) doesn't seem to be holding up.

I'm not in a hurry to buy, because I want to "buy right", so I'll get there in time and will update when it happens. Some people on here have beenvery helpful.

This thread has been a great help in generally discussing thoughts with enthusiasts and settling on my choice of 5940.

Edited by CKQC on Tuesday 9th January 16:21

Hate to say it,. but you don't buy one of these for 'value', you buy it because you love it. If you buy to make money it will probably disappoint.

You can say the PP 5040 is a 'better' watch if you like, but it doesn't look as nice and it isn't as much in demand as a result.

I would say don't spend too long rationalising or you will inevitably end up concluding there's really no pojnt buying it at all

(Speaking as someone who has spent similar amounts in the past...and many times had to talk himself out of spending much more haha ;D).

[anonymous-user]

Interesting thread, really hope you manage to find the right watch for you.
One question though, I'm genuinely curious, why ask the question on Pistonheads? Isn't that like joining Watchuseek and asking for advice on which hypercar to buy?

[ZesPak]

Spumfry said:

Interesting thread, really hope you manage to find the right watch for you.
One question though, I'm genuinely curious, why ask the question on Pistonheads? Isn't that like joining Watchuseek and asking for advice on which hypercar to buy?

Maybe he just wanted to be convinced to buy 6 submariners?

[CKQC]

PJ S said:

^
Maybe knock off another £2-3K to make up for no warranty remaining and cover the cost of a service in a year or two?

https://www.chrono24.co.uk/patekphilippe/quantieme...

Hi PJS. I've already examined this watch via a friend who lives in Geneve. Their price is their price even though it's rather scratched and could use a polish. "Real world" picture of the watch below. They weren't interested in negotiating, so I dropped it. I would have been open to it as all the papers checked out, but they aren't realistic with their price.

dimots said:

Hate to say it,. but you don't buy one of these for 'value', you buy it because you love it. If you buy to make money it will probably disappoint.

You can say the PP 5040 is a 'better' watch if you like, but it doesn't look as nice and it isn't as much in demand as a result.

I would say don't spend too long rationalising or you will inevitably end up concluding there's really no pojnt buying it at all

(Speaking as someone who has spent similar amounts in the past...and many times had to talk himself out of spending much more haha ;D).

Hi, I think you have missed my point, or maybe I haven't been very clear. I am not looking for an increase in value as I have no intention of selling it. However, this is a large sum of money to me (thought it may not be to others) and I see no reason for paying over the odds, when a little patience will see me right. I very much enjoy the research and the "hunt"! Also, I think the 5940 is the superior watch not the 5040.

Spumfry said:

Interesting thread, really hope you manage to find the right watch for you.
One question though, I'm genuinely curious, why ask the question on Pistonheads? Isn't that like joining Watchuseek and asking for advice on which hypercar to buy?

Thanks, very kind of you. I don't think I'm alone is saying there are a number of knowledgeable watch enthusiasts on this forum and some have contributed to this thread. I have found it informative and entertaining (!) as have others, so I would happily post here again. Aside from a couple of unusual sorts who offer no value (easily identified through the thread), I've been happy to hear the different views and have some thoughts answered.

Edited by CKQC on Tuesday 9th January 21:57

[dimots]

Ok point clarified and understood! It is a lot
of money to spend on a watch, and if the thrill of acquiring at a great price appeals more than the thrill of acquiring at any cost then you should endeavour to enjoy that aspect of the search as much as possible!

I hope you find what you want, but whatever you do don’t let your head be turned by a ‘bargain’ that compromises what you really want! That’s the impression I got when you mentioned the 5040. As many people can testify buying something you didn’t really want is the best way to double the cost of acquiring what you DO want

[drainbrain]

A low-ish volume mass produced lowish cost nice-ish watch from a "hot" brand:

https://www.chrono24.co.uk/patekphilippe/-perpetua...





A connoisseur's concept of a "mega watch" made by a master. One of two:

http://www.sothebys.com/en/auctions/ecatalogue/201...

Edited by drainbrain on Tuesday 9th January 22:44