Does Patek Philippe have good relationships with it's authorized retailers? (Pt 2)

Luxury brands who sell through retailers need to trust that their retailers will sell their products at MSRP.

In yesterday’s newsletter, I wanted to use WisePricing’s platform to see if Patek Philippe had a good relationship with it’s authorized retailers.

First A Primer

For the purposes of WisePricing when we define a good relationship - we mean are retailers selling products at MSRP because pricing is the single most important factor in luxury brand positioning.

And luxury brands, especially those who don’t sell from their own stores, rely on authorized retailers to sell their products at their MSRP.

And those who don’t are in MSRP violation.

So at WisePricing we have been tracking Patek Philippe’s watches across various retailers to try to answer this question.

For the Aquanaut 5167A this appears to be the case.

What about the Patek Philippe Calatrava 6196P

Now let’s look at the Calatrava 6196P - like the 5167A it’s a very beautiful and expensive watch and like the 5167A it’s average price has also been rising.

If you are wondering what the MSRP is for Calatrava 6196P it’s $56,904.

And according to our data at WisePricing the authorized retailers are selling it at that price…

Data From WisePricing

…For the most part. There’s one exception however (see below).

Data From WisePricing

Our platform shows that one retailer who we have confirmed is an authorized retailer has not increased their price yet to be inline with the MSRP.

So what next?

Well based on our prior data from tracking the Aquanaut 5167A we found that eventually the authorized retailers increased their prices to be consistent with Patek Philippe’s MSRP but the timing was variable (see below).

Data From WisePricing

So I anticipate that eventually this authorized retailer will increase their price that will be inline with Calatrava 6196P’s MSRP because at the moment it’s in violation, which could eventually impact the relationship if it stays this way.

Back to our original question.

So does Patek Philippe have good relationships with it’s authorized retailers?

And I’d say the data from WisePricing suggests that the answer is yes.

But WisePricing was built to make sure that luxury brands can track this to make sure the answer is always yes.

Before you go…

If you are a luxury brand or retailer selling luxury products interested in trying out WisePricing to make more data driven decisions on pricing that can improve margins and maintain trust, email me back for a demo.

If you are also interested in our research and advisory services to help determine pricing for your products, reach out to us to see how we can help you by leveraging our data and platform.