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WSJ: Valuations: Why is This Watch Worth $312,000?


HauteHippie

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Well, there is more reason behind the 300k price in this piece versus the 30k price on the recent Panerai 360 offering on another site. Agreed stil pretty stiff at 300k but atleast its platinum and has a minute repeater function, which is still a pricy complication to date.

Edited by slickdick
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It's because this one has a reliable running secs at 6 movement Chief...you should know that by now. ;)

Never underestimate the amount people are willing to pay for exclusivity. Why is it worth >$300K?? Because more than a few people are willing to pay that.

The market price is driven by the existence of merely one buyer. If something sells at any price, that's what it's worth. If it doesn't sell at a given price, it's obviously not worth that.

It amazes me what sells at what prices in the real estate market too. Crazy.

I mean, look at this POS in Mumbai:

the_most_expensive_home_in_the_world.jpg

$2B???

I mean really, I wouldn't pay more than $1.89B for that...some people.

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The valuation is based on the levitation mode that comes with the watch..... surprised no one noticed from the pic!!! ;)

Considering the basic quartz starts at 14K this is probably the mid price range model !!!! :D

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If I were super duper rich watch enthusiast, I too would've spent that amount of money on that watch. Pateks make the best sounding minute repeaters,especially the gold cases from my experience listening to them on youtube videos. It's something to dream about, and so is the enamel dial, any enamel dial is beautiful. But what most people don't know is that Patek makes pocketwatches with minute repeater functions and enamel dials that regularly sells in the $15-$25k range, 10 times less than that of the wristwatch version. It's definitely something on my wish list. Heck, put a strap on a pocket watch, it becomes a wrist watch...isn't that what panerai is doing?

Edited by praetor
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Well I've got to say that the minute repeater is a very cool complication. Something to behold. But it's also a very silly and worthless complication. Nevertheless, I didn't think the sales price was terribly outlandish. I just found the article interesting, and the watch gorgeous!

I agree mate on 99%....but what stood out to me in respect of the article was the analogy of the PP to watches as Bordeaux with wine!!! I am surprised she chose Bordeaux given the other choices to represent exclusivity, quality, history etc etc ;)

The 1% I dont agree on is the watch looking gorgeous though; appreciated but not gorgeous... but thats what makes us human :) :)

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  • 3 months later...

How about $1.3 Million ?

Want to talk value for money? I just saw this exact watch in Gold being sold for the low low price of US$70... :o) that's a saving of $1,299,930!

Shameless I know, but it had to be done :)

As for the 300k Patek, it IS a bit rich, does anyone know what the sticker price was? Or are these released exclusively to auction houses? If so, very very clever marketing strategies being employed by Patek.

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I'm sure for $312,000 the owner could hold it for a few years (while never wearing it, of course) and then sell it at another auction for even more. So yeah, maybe it is worth the price tag. However, watches aren't securities, so for $312,000 there are probably many better ways of getting a higher return on your money.

As for the "art" in that youtube video of the nude fat woman, yuck!

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