Visit to the AP Boston Boutique . . .

[Mach]

Today, I decided to visit the AP Boston Boutique, which has been opened since November.

Previously, I've had the opportunity to see the Code 11:59 in the flesh:


However, I have not seen the latest editions with unorthodox two-tone cases and smoked lacquered dials. That is, until today. I finally had the opportunity to see the chronograph with the smoked grey sunburst lacquered dial:






This is definitely a piece that needs to be seen in person to fully appreciate. It's difficult to capture the details with the boutique lighting. It's quite stunning!

IMHO at this price point, I think it should be issued on a deployant strap. I would like to see the case diameter and thickness reduced. I'm also not convinced yet with the hands. But, overall, I believe AP is moving in the right direction with the Code 11:59.

[David5807]

Was there anything there to see besides the 11:59? I was outside the store today myself contemplating going in, but then said what's the point lol. Was I mistaken OP?

[Mach]

Originally Posted by David5807

Was there anything there to see besides the 11:59? I was outside the store today myself contemplating going in, but then said what's the point lol. Was I mistaken OP?

Unfortunately, David, you were not mistaken! They had 5 of them on display. There were no ROs to take a look at.

Best,
Mark

[10XRolex]

Definitely a stunner. But as others have said, the price is a bit harsh. Even more so with the most recent price increase. But I would still like to have it.

[David5807]

Originally Posted by 10XRolex

Definitely a stunner. But as others have said, the price is a bit harsh. Even more so with the most recent price increase. But I would still like to have it.

What are these going for nowadays?

[dauster]

Originally Posted by David5807

What are these going for nowadays?

47k plus tax.... indeed harsh

[yidarmy]

Can somebody tell me their expectations for visiting an AP owned boutique? I have never purchased from one before, but live close to the one in Bal Harbour. What is exactly available that one can purchase in store? I'm assuming that Royal Oaks are not, but everything else might be? Sorry for the newbie question, but you need to make an appointment these days to get into the boutique and I'm looking for a general overview. Thank you. :)

[winst]

Nice watch but looks like a dinner plate on your wrist unfortunately.

[dauster]

Originally Posted by yidarmy

Can somebody tell me their expectations for visiting an AP owned boutique? I have never purchased from one before, but live close to the one in Bal Harbour. What is exactly available that one can purchase in store? I'm assuming that Royal Oaks are not, but everything else might be? Sorry for the newbie question, but you need to make an appointment these days to get into the boutique and I'm looking for a general overview. Thank you. :)

Just call them and ask, chances are not much will be available and don’t expect any discounts on anything.

[chiscott_29]

I love the Code, but I can’t justify $48k for the Chrono. It just seems there are so many better options out there at that price point. Specifically, if you are open to pre-owned.

The pickings seem to be VERY slim at AP right now. Reports suggest that it’s only just Codes inside the boutiques. No Offshores. No diamond bezels.

I am not sure if that’s by design, or if we’re just in the real “pit” of the shortage that has been exacerbated by the pandemic.


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[David5807]

Originally Posted by dauster

47k plus tax.... indeed harsh

Yesh! Not even on a bracelet too!

[yidarmy]

Interesting, thanks for the replies. I also think there is a lot of "new found" wealth in this pandemic between the stock market & crypto and people have no where to spend their money as they are not taking international vacations. The resale of exotic cars, watches, and collectibles has to be at an all time high.

[watchucallit]

I am going to be out in Boston for a month and will definitely make a trip there and check it out

[Fleetlord]

Originally Posted by chiscott_29

I love the Code, but I can’t justify $48k for the Chrono. It just seems there are so many better options out there at that price point. Specifically, if you are open to pre-owned.

The pickings seem to be VERY slim at AP right now. Reports suggest that it’s only just Codes inside the boutiques. No Offshores. No diamond bezels.

I am not sure if that’s by design, or if we’re just in the real “pit” of the shortage that has been exacerbated by the pandemic.


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Probably a bit of both. AP sees the Code 11:59 as the perfect and "chosen" reference to serve as an introduction to the brand through the boutique channel!

[alexlt730512]

Been a longer time AP fan since early 2000 and totally agreed with you that 11.59 is something that you would need to check out in person then immediately that you will realize the beauty and the workmanship that AP has done for this line. It has so many details from the case design lugs and even screws. Not even mentioning about the vertical clutch for the fly back chrono.

[Mbbgysam]

Wearing mine today — it has so much dimensionality in person!!

[Uros]

Originally Posted by Mbbgysam

Wearing mine today — it has so much dimensionality in person!!

Looks great from this angle!


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[NYG1121]

It is an interesting watch for sure in person, especially the chrono and it does NOT photograph well. It is trying to fit this hybrid space between a dress and a sports watch and can be worn casually. I would have preferred it to be a tad smaller and a lower price point to get me interested.

[Swaye]

Originally Posted by NYG1121

It is an interesting watch for sure in person, especially the chrono and it does NOT photograph well. It is trying to fit this hybrid space between a dress and a sports watch and can be worn casually. I would have preferred it to be a tad smaller and a lower price point to get me interested.

My exact thoughts. Wish it was a touch smaller and priced 15% lower and I'd be interested.

[Mach]

Originally Posted by Mbbgysam

Wearing mine today — it has so much dimensionality in person!!

That's a great shot! Congratulations!

[Mach]

Originally Posted by NYG1121

It is an interesting watch for sure in person, especially the chrono and it does NOT photograph well. It is trying to fit this hybrid space between a dress and a sports watch and can be worn casually. I would have preferred it to be a tad smaller and a lower price point to get me interested.

Originally Posted by Swaye

My exact thoughts. Wish it was a touch smaller and priced 15% lower and I'd be interested.

I'm in the same camp! I felt it wears larger than the actual case dimensions. AP needs to shave a few mm's off the diameter, the thickness . . . and, of course, some $$$$ of the MSRP.

[dauster]

Originally Posted by Swaye

My exact thoughts. Wish it was a touch smaller and priced 15% lower and I'd be interested.

well you should get more than 15% off going grey but I assume you like it because it opens the door for other watches at AP - I feel the same way btw.

[Swaye]

Originally Posted by dauster

well you should get more than 15% off going grey but I assume you like it because it opens the door for other watches at AP - I feel the same way btw.

Yeah I just like buying from the Boutique when I can. I enjoy the experience. I have purchased both a 42mm ROO and a ROC from the Boston AP Boutique. Love the team there. I have really warmed to Code's and like quite a few of them. But they are just a tad too big and are really competing with some nice pieces at their price points. For just a couple grand more than that Code I can get a platinum Lune from FPJ in a svelte 40mm package.

[Mbbgysam]

Originally Posted by Uros

Looks great from this angle!


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Originally Posted by Mach

That's a great shot! Congratulations!

Thanks! Of all my watches, this one is by far the hardest to get good shots of.

[fspfsp]

Agreed, the Code 11:59 line needs to be seen and held in person to fully appreciate them, pictures don't do them justice.

I think across the industry we are now hitting the fully blow of covid. Manufacturers had finished products they could trickle out over the past year. But, with that stock gone, and ~month closures we are seeing the effects at the Boutiques/ADs now.

[dauster]

Originally Posted by fspfsp

Agreed, the Code 11:59 line needs to be seen and held in person to fully appreciate them, pictures don't do them justice.

I think across the industry we are now hitting the fully blow of covid. Manufacturers had finished products they could trickle out over the past year. But, with that stock gone, and ~month closures we are seeing the effects at the Boutiques/ADs now.

agreed, vegas boutique sent me a video yesterday, all cases empty, they have four watches in the whole boutique.

[GreenLantern]

I wonder if we're going to start seeing ADs go under due to no stock to sell. Can't sell anything, can't generate cash flow, can't pay bills.

[chiscott_29]

Originally Posted by GreenLantern

I wonder if we're going to start seeing ADs go under due to no stock to sell. Can't sell anything, can't generate cash flow, can't pay bills.

I sincerely doubt things are bad. Just because we don’t see the watches doesn’t mean they aren’t getting things to sell. Things like stainless steel models haven’t been in the case in years. And remember, the margins are 38 to 42% on average so there’s plenty of money to be made from entry level Tag Heuer to 6 figure Patek complications.

Most AD’s these days sell other things besides Rolex or Patek. So, I’m not going to shed a tear for them yet. It is unfortunate that the pandemic is likely weighing on inventory and ancillary sales associated with having things in a show case, but until I see a bunch of people trying to sell their authorized dealerships, I’ll assume they’re going to be just fine.


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[GreenLantern]

Originally Posted by chiscott_29

I sincerely doubt things are bad. Just because we don’t see the watches doesn’t mean they aren’t getting things to sell. Things like stainless steel models haven’t been in the case in years. And remember, the margins are 38 to 42% on average so there’s plenty of money to be made from entry level Tag Heuer to 6 figure Patek complications.

Most AD’s these days sell other things besides Rolex or Patek. So, I’m not going to shed a tear for them yet. It is unfortunate that the pandemic is likely weighing on inventory and ancillary sales associated with having things in a show case, but until I see a bunch of people trying to sell their authorized dealerships, I’ll assume they’re going to be just fine.

I hear you, but, here's the thing... Most ADs other things besides Rolex and Patek usually just sit in their display case. Unless they've ventured in the (currently) lucrative direction of selling pre-owned pieces (in order to maintain at least some inventory), I'd wager they aren't moving as many pieces as they once used to.

Single brand boutiques are even worse off.

AP Vegas has only 4 pieces left in stock? Next shipment isn't for another couple weeks, most likely.

Where's the cash flow to keep paying rent at The Shops at Crystals / Aria?

[chiscott_29]

Originally Posted by GreenLantern

Where's the cash flow to keep paying rent at The Shops at Crystals / Aria?

I’m certain the brands (in this case, AP) are helping foot some of the costs of doing business.

Your point is taken and valid for sure. It’s just I don’t think anyone is in danger (yet).

I mean if things get too bad maybe AP will give them a 15407. Surely they can walk it out the back door in return for $100k