Partners In Time Watch Update by Trent Crowley

The 1st quarter of 2007 ended quietly on all fronts in the watch world.The holiday week has prompted everyone to recheck there inventories and cash positions as we move forward to the next quarter. Dealers worldwide have been very slow since April 1 but that's actually good for the market and dealers to regroup for Basel and Geneva Fair which begins shortly.Everyone is always excited about the new releases forthcoming from the great watch houses.This year will be no different.

As Patek Philippe roles out it's newest watches in Basel the dealers will be in line to place orders that will exceed production.This has been and will continue to be the "modus operandi " of Patek Philippe .Even as Patek Philippe calibrates it's position as a global company and shifting away from it's former standing as a family company I believe the success of the brand will continue strongly in 2007.Bottom line is that Patek Philippe continues to hold the #1 position today in the world for collectible timepieces and everyone wants to be connected with the best.It's holds true for all in the circle of success.

As for trends, I continue to believe in the current production models such as the 5960,5970,5070,5712 and 5980. All of these are blistering hot with both newcomers and oldtimers.Personally,I have added the rose gold 5712 to my collection recently and have not been able to take it off.It's a model that is going to double in value over the next 5 yrs without question.In my humble opinion it's the hottest sport model Patek Philippe ever produced in a crocodile strap and deployant buckle.I think it's a much better trade off for the guy who loves the Rolex strap daytona but is tired of seeing everyone else wearing one.The new 5712 rose or white gold is just plain hot and a must for the purist collector.

All the models above will continue to rise especially the 5960 automatic platinum chronograph.Again,I was not crazy about the watch when it was introduced in 2006 as the dial setup did not suit my personal taste.Well once again I have been shown that my personal taste is not always what counts most.The newcomers just love the piece and now I am a true believer that it will rise to 100k in value in the next few yrs.First of all ,it's the first automatic in house chronograph ever produced by Patek Philippe and that alone makes it a treasure.Secondly,it's solid platinum and weighs a ton and I think undervalued at todays market value of 75k approximately.Anyone willing to pay 75k will happily pay 100k tomorrow if they decide to acquire it.If you don't own one for your collection already then buy one and just put it away.It's a moneymaker for sure.

The vintage Patek market is continuing to go nuts in every sense of the word.Recent auctions yielded mix results for everything and everyone except vintage Patek.A Patek perpetual chrono ref 2499 sold for over 439k US .The fact is that very few great pieces are being offered thereby driving the market steadily higher especially when you see vintage models coming forward with great provenance such as original boxes,papers,books,tags etc.These just demand the highest prices and I believe it will continue as the supply of these rarities is just almost nil.If your a modern Patek Philippe collector you should be focusing more attention to this area.Many modern collectors buy the new pieces and put them in the safe and bring them back out later for resale when the market goes higher and this is great but what makes vintage fun is that you can wear them while watching them soar in value and you have not disturbed the antiquity one bit.One of my clients recently obtained one of the finest collectible ref 591 chronograph's with all the papers etc that you will ever see.Again,the appetite for vintage is only just beginning in my opinion and the best is yet to come.

As for the "toys for the big boys" the Patek Philippe repeaters and tourbillons are continuing to hold fast to their ultimate position as the "cream of the crop" for the elitist collector.I've always said that you can never pay too much if your buying the greatest timepiece in the world.The recent auctions yielded positive results for the ref 5029,5013 and 3974 repeaters.If your lucky enough to own one of these you only have time on your side when it comes to appreciation.
Personally,we have sold several of the ref 5102 celestial models this yr and the price keeps ticking higher with each sale.

While Patek has not indicated it yet I do believe this model is near the end of production and when this news is for sure you will see the stars come out on this model. As for the ultimate Patek Philippe wristwatch, the Ref 5002 Sky Moon Tourbillon is the most undervalued timepiece in the world today.Yes,the price of it separates a lot of collectors but with only 12 pieces in the world today this piece will be worth 2-5M in the yrs ahead.We sold the first one of these in the US in 2003 for 950k and it's only trading slightly higher today much to my surprise.I think it's because Patek has not discontinued it yet but if they hold true to their word then production will end in 2007.When the watch was released in 2001 the original press release stated that Patek would produce 2 watches per yr for 6 yrs with production ending in 2007.I think we will see the end of this watch very soon and when it's announced the price will most likely double in value within 12-24 months.

All in all, 2007 has been a great year for Astorlive and our auction business is growing leaps and bounds. We believe the rest of this year looks very promising for the collectible watch market.My pragmatic nature tells me that nothing continues to move upward without moving downward for natural corrections but I must admit so far I have lost some faith in my ability to forecast this market.I think it's safe to say that we firmly believe in the long term benefits of collecting wristwatches and if your not in the market speculating with grandma's money then you will be fine.