I'm closing a deal with a rarely worn 5940J-001 in excellent condition with box and papers. The solid gold case back was lost by the seller. Price is decent otherwise.

My query is how a missing solid caseback will impact your decision in buying a watch like this? It is, in a way, my grail watch and i also intend to wear it regularly. Please give your opinion and oblige. Regards

 

Notwithstanding the fact that I would never use it - the micro-rotor grand complication movement is beautiful and should be available for viewing...

I would expect a "great" vs. "decent" price for this watch with the solid case back missing. At this level, purchasers are going to pick every nit, and if there is a chance, however small, you'll sell it down the road, that will mater a great deal more.

 

Probably a $1,000 or so. I wonder how the back was lost if everything else is present, usually an extra back would be kept in the box.

 

Thanks for your response. $39k is "decent" or "great" sir? Regards

 

I just couldn't get your message... What you meant by $1000 sir?

 

The price is dinged by $1,000, it wouldn't bother me that much if the back was missing.

 

I think I'm getting around 25% less than what normally it's quoted elsewhere. 1000 is well covered. Your approval matters lot to me. Thanks indeed. Regards

 

As per the seller, it was lost in transit, perhaps at airport, between Singapore to Germany few years back.

 

Since you initially characterized the price as "decent" in the original post, was commenting relative to that. A quick search reveals that current asking prices for these are well higher than US$39k as you noted above, but I have no knowledge of actual sales prices. My comment on future buyers expecting all the bits stands, and the value of the lost caseback is no doubt out of proportion to its actual cost.

 

I'd like to know what replacement gold case back would cost from Patek and base my discount negotiations from there....you never know, the seller may end up having to pay you to take it off his hands

 

I assume that it will be a pretty expensive caseback....

 

As I recall there is a sapphire display back and a gold cover? I think I’d park the cover anyway to see that lovely movement.

 

There's an 18k Patek 5940J caseback on ebay for a buy it now of USD 2500. At least that gives you a ballpark replacement cost

https://www.ebay.com/itm/133396122171

 

I would estimate that if PP would have to remake a back for you, hallmark and engrave the case number and PP name you are looking at $8 to $10k, maybe more. And they may want your watch so they could insure it fits properly. Patek Philippe and early Roger Dubuis used to provide a closed back with their complicated pieces, but dropped that after a couple of years because no one used them. I think the price you are negotiating is fair, when is the last time it was overhauled, if ever? That will cost money. And take time.

 

Irony is that Patek doesn't give you replacement. There is one available at eBay for 2.5k. There are many on Chrono24 and elsewhere for sale without the solid caseback. I thought for some time and closed the deal as at this price and condition this model won't be available to me later. The seller is known to my friend who has huge Patek collection. I think I did the right thing. I'll get watch next month when the seller visits my friend.

 

It was bought in 2017 originally by the seller. He worn it few times. Now he is getting it inspected at Patek boutique for its condition and if it needs service now. Patek normally unofficially recommend 7-10 years period for complications worn occasionally and kept in good condition. He has already reduced prices for service in the last offer.

 

Well then congratulations are in order - so ... Congrats - it's a beautiful piece, enjoy!

Of course you are already aware of Patek's strict policy that you may not actually have title to the watch.


"You never actually own a Patek Philippe. You merely look after it for the next generation.”

 

In fact I intend to own and wear it myself and my daughters have no such interest in watches...