Is the Patek made of platinum? The precious metal could be the difference...
Unobtainium is the only metal that can make up that much of a difference.
I've recently begun to love the Patek Aquanaut, but not enough to pony up $25K or more for one. The PP pictured here is, IMHO, plain to the point of being hideous. i get the concept of minimalist design. I appreciate it, hence my love of the Omega Speedmaster. But that Patek has nothing going for it besides the fact that somebody is willing to pay over $100k for it.
Unobtainium is the only metal that can make up that much of a difference.
I've recently begun to love the Patek Aquanaut, but not enough to pony up $25K or more for one. The PP pictured here is, IMHO, plain to the point of being hideous. i get the concept of minimalist design. I appreciate it, hence my love of the Omega Speedmaster. But that Patek has nothing going for it besides the fact that somebody is willing to pay over $100k for it.
I've actually had experience with an original PP Ref 3700 SS Nautilus, it was the first high grade watch I owned. In 1979 the MSRP of the Nautilus was $3,750, I bought mine from an AD in Houston, TX for $3,000 + tax for a total of $3,180. I tired of it fairly quickly, the bracelet was stiff, the watch was large and flat and didn't sit that well on my 7.5" wrist. Frankly, I thought the design and execution boring. After 10 years I tried to sell it and NO ONE wanted it, I eventually consigned it to Sotheby's in NYC and I barely got my money back after my 10 years of ownership. For years the Nautilus was a shunned example, always playing second fiddle to Genta's greatest design, the AP Royal Oak. Even PP didn't advertise it, it was a dead design.
Now, 40 years later examples seem to be going for the asking price around $100,000. Let's do a little math boys and girls. The 40 year annual rate of return for this watch is just around 9.0%. $3,180 x 1.09^40.
Let's look at the S&P500 over the same 40 year period: 8.7% annual average return, just a little less. You would have been on sounder ground just investing in the market because history had shown that the market goes up over an extended period of time, but there was ZERO evidence in 1979 that buying a steel PP would be an investment. The Nautilus was not a bad investment, but how many original owners are out there? Answer, not many.
Don't be fooled, the PP Nautilus' current value is due to pushing and prodding by insiders (PP the company and other people). They buy and flip them when the next fool believes the price will keep going up on this tulip, I mean watch. It's a game that average people can't play because they don't have an inside track on what the next gimmick is. Patek Philippe is a master at playing this game. A few people benefit using OPM.....Other People's Money. Play at your own risk.
A Steel Patek Ref.5980 cost in 2010 around 30K.
Today it costs 90K.
This watches (Nautilus) are not more a hobby and enjoyment.
Only investment and unbelievable prices...
They are toys for rich people. Collecting watches is not a hobby for the average man.
to me the difference in cost between these two watches is a mute point as a watch must first satisfy (me) how it looks (esthetics) and the PP fails (me) in that regard, so (my) attention is grabbed by the 125 .. and thus the Omega becomes (my) preference.
I'm sure many of you may of already seen this around on the web but their is currently an original Cork box for this beauty at a asking price of $100,000 so a box is as expensive as the watch. I really can't get behind the mindset that anyone must have to think that in anyway makes any sense at all.
I'm sure many of you may of already seen this around on the web but their is currently an original Cork box for this beauty at a asking price of $100,000 so a box is as expensive as the watch. I really can't get behind the mindset that anyone must have to think that in anyway makes any sense at all.
