HauteHippie Posted October 18, 2010 Report Share Posted October 18, 2010 http://blogs.wsj.com/scene/2010/10/18/valuations-why-is-this-watch-worth-312000/ Purists prefer Patek Philippe, says Vanessa Herrera, deputy director for Sotheby Quote Link to comment Share on other sites More sharing options...
Polynomial Posted October 18, 2010 Report Share Posted October 18, 2010 Why is This Watch Worth $312,000? Because it comes with a strap Quote Link to comment Share on other sites More sharing options...
slickdick Posted October 18, 2010 Report Share Posted October 18, 2010 (edited) 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 October 18, 2010 by slickdick Quote Link to comment Share on other sites More sharing options...
Toadtorrent Posted October 19, 2010 Report Share Posted October 19, 2010 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: $2B??? I mean really, I wouldn't pay more than $1.89B for that...some people. Quote Link to comment Share on other sites More sharing options...
PeteM Posted October 19, 2010 Report Share Posted October 19, 2010 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 !!!! Quote Link to comment Share on other sites More sharing options...
crystalcranium Posted October 19, 2010 Report Share Posted October 19, 2010 It's a gorgeous, platnium repeater made by an iconic company but I agree, 300K is outrageous...and it will find buyers among the "I'm so rich I can do this" group. If this were an IWC or JLC, I doubt it would go for more than 75K. Quote Link to comment Share on other sites More sharing options...
praetor Posted October 20, 2010 Report Share Posted October 20, 2010 (edited) 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 October 20, 2010 by praetor Quote Link to comment Share on other sites More sharing options...
KB Posted October 20, 2010 Report Share Posted October 20, 2010 Pateks make the best sounding minute repeaters You would pay 300K for a nice sounding watch? I could buy the Melbourne Symphony Orchestra for that kind of money. Ken Quote Link to comment Share on other sites More sharing options...
praetor Posted October 20, 2010 Report Share Posted October 20, 2010 we're lucky that we don't collect paintings or art of that nature. would you pay millions of dollars for something like this? Quote Link to comment Share on other sites More sharing options...
PeteM Posted October 21, 2010 Report Share Posted October 21, 2010 How about $1.3 Million ? Quote Link to comment Share on other sites More sharing options...
HauteHippie Posted October 21, 2010 Author Report Share Posted October 21, 2010 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! Quote Link to comment Share on other sites More sharing options...
PeteM Posted October 21, 2010 Report Share Posted October 21, 2010 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 :) Quote Link to comment Share on other sites More sharing options...
slickdick Posted October 21, 2010 Report Share Posted October 21, 2010 Well... the complication is very usefull if you lost your eye sight. And if your blind you wont mind an ugly watch Quote Link to comment Share on other sites More sharing options...
automatico Posted October 21, 2010 Report Share Posted October 21, 2010 "Why is This Watch Worth $312,000?" Maybe because it counts off the hours and minutes same as a $300 Citizen Eco-Drive minute repeater. Quote Link to comment Share on other sites More sharing options...
HauteHippie Posted October 21, 2010 Author Report Share Posted October 21, 2010 "Why is This Watch Worth $312,000?" Maybe because it counts off the hours and minutes same as a $300 Citizen Eco-Drive minute repeater. Same function.... VERRRY different methods used in achieving it. But given the choice, I'd pick the $300 version, anyhow. Quote Link to comment Share on other sites More sharing options...
subbiesrock Posted February 2, 2011 Report Share Posted February 2, 2011 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... ) 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. Quote Link to comment Share on other sites More sharing options...
scottosaurus Posted February 6, 2011 Report Share Posted February 6, 2011 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! Quote Link to comment Share on other sites More sharing options...
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