patekova
1431
Gordon, this an extremely well written, fair minded and factual presentation of of a problem that has caused great consternation for many.
Apr 26, 2024,22:43 PM
Thierry hits the crux of the benefit and dilemma succinctly: “sustained demand which we cannot satisfy”.ADs are basically in an untenable situation - Very limited supply and both existing and potentially new clients clamoring to buy a Patek.
Clearly Thierry is totally against “bundling” which he describes as “blackmail”, but his definition of bundling refers to being forced to buy watches from OTHER brands and/or jewelry.
Being required to build a relationship by buying presumably lesser desired Pateks before getting the more highly desired ones, is not considered bundling. Nor apparently is it discouraged. It is also understandable.
Patek is trying to be fair as are most ADs, but dealing with demand far in excess of supply is a truly vexatious situation. I’ve thought long and hard about how to resolve this “problem” and have come up empty.
I do think a rapidly changing market may help. Secondary market prices are way, way down and this may lead to diminished demand from speculators who think they can flip a watch for a quick profit and from “investors” who have been burned.
Anyway, great post on a timely and controversial topic!
Best, Patekova