PATEK PHILIPPE Just Made a BOLD PRICE INCREASE !!

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PATEK PHILIPPE Just Made a BOLD PRICE INCREASE !!
As early as last April, Swiss watch execs shared that the market was “slowing down.” Although exports of timepieces reportedly rose 7.6 percent in 2023, the rate of sales slumped to 3.6 percent in the second half of the year from 11.8 percent in the first half. Despite this, one of the industry’s top manufacturers, Patek Philippe, is now bucking the trend with increased prices.
The Swiss watchmaker raised prices across its model lines globally on February 1, Bloomberg reports. Information on its website indicates that prices have gone up by an average of about 7 percent. The 5236 perpetual calendar now comes with a $10,000 increase, formerly priced at £113,330 ($142,064), that now retails for £121,100 ($152,803). Experts say Patek’s price hikes shows it believes it has sufficient brand and pricing power to offset rising input costs and a strong Swiss franc without spoiling demand for its watches.
The news follows Rolex’s 2024 price hike in the U.K. Last month, the watchmaker raised rates at English dealers by an average of about 4 percent at the start of the year, according to a report by analysts at Barclays. For perspective, the Rolex Air King jumped from £6,250 (about $7,919) in 2023 to £6,500 ($8,206) this year. Rolex prices at U.S. dealers were not increased this year, but in 2023, both U.S. and U.K. prices for the brand jumped by an average of 2.5 percent. During and coming out of the pandemic, Swiss watchmakers increased their prices amid an unprecedented boom. Well-heeled consumers have since pulled back on the purchase of luxury timepieces, largely due to rising interest rates and a general slowdown in consumer spending, Fortune claims. Omega and Breguet parent company, Swatch Group AP, said in a statement last month that its 2023 prices were not enough to offset the strength of the Swiss franc. With Patek’s latest hikes now effective across all model lines and regions, only time will tell how the shift effects its year-end results. If you found Lux Report after watching videos by Archie Luxury AC3 Live Stream , Paul Thorpe watch dealer, Watchfinder, Timepiece Gentleman Anthony Farrer, grand caliber , Teddy Baldassarre, Federico Talks Watches , CRM Jewelers , Watch Eric , Timeless Watch Channel, Roman Sharf Grey Market Dealer , Hodinkee , Producer Michael , Tim Write , Timepiece Trading TGV The Urban Gentry , Trotters , Bark and Jack or any other watch channels then welcome to the watch community.
The watchmaker has reportedly discontinued several timepieces in its lineup, including the Aquanaut Travel Time, as a result of its changes this month. But don’t fret. At last year’s Watches & Wonders showcase, it unveiled a host of exciting new novelties for you to strap on your wrist. It also released seven new jeweled watches last fall that are ideal for making a statement. And, Patek Philippe president, Thierry Stern, promised a new collection for 2024, so stay tuned.
#patekphilippe #patek #watches

[@happinesscompilation5252]

The market slows down and they decide to increase prices. As a result, the market will slow down even further cause no one will buy unnecessary thing that's even more expensive.

[@bronsondeliac2625]

I'm new to watch collecting & here's something i don't fully understand: after a certain price point, say $500, what differences are in the higher price tiers? What does a $2000 watch do differently than a $500? What about a $20,000? I can understand if there's complications or precious metals, but like a stainless steel Rolex for instance 🤔

[@nicoperez9984]

its the same with anything in life. its the brand name people care about

[@rouge-gsd3061]

Most of the time as the price goes up more is done by hand and less by hand, along with more exotic dial and movement options. A good way to see the difference is to look at a seagull movement, a jlc standard movement, and an A. Lange sohne movement.
But if you're only worried about pure function and are happy with highend machine finishing, then the max price is around 10k before getting into more art pieces without needing a major brand name.

[@New_Jax_City]

Nice Luxy!

[@THEUNSEENREPORT]

Thanks! 😁

[@andrewgiblin3468]

Who cares you can’t buy there watches in their boutiques anyway. It’s completely irrelevant.

[@Bdigital9482]

Yes, you can, making a best selling album, spend a million a month with them, get your name on Hollywood walk of fame, grease some palms, BOOM you can now purchase at a boutique. Also, remember, there’s no such thing as bad press on your journey.