The recent announcement of the discontinuation of the iconic Patek Philippe Nautilus ref. 5711 is already having a substantial impact on the price of the sports model — good news if you’re a current owner.
While the retail price of $30,000 USD for the ref. 5711 has long been out of reach for watch enthusiasts looking to own the grail watch, its already inflated pre-discontinuation price of roughly $70,000 USD is quickly following suit. Online watch marketplace Chrono24 reported a 25 percent price jump when the idea of a discontinuation was just a rumor, then went on to experience a further 31 percent increase in the ref. 5711’s price on the day of the announcement.
Now, that magic number for the Nautilus has reached a new selling average of approximately $105,000 USD in just under a month. That’s more than a 50 percent increase in market price. The number of requests to purchase a 5711 last month from Chrono24 also doubled that of any month in 2020. Perhaps news of an updated Nautilus may help cool the market.
In other watch news, H. Moser & Cie takes one last swipe at Apple with the Swiss Alp Watch Final Upgrade.