Why This Patek Philippe Watch Made Kevin O'Leary Cry

I went watch shopping with Shark Tank investor Kevin O’Leary and the timepiece he purchased brought tears to his eyes.
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O’Leary tells me he’s been waiting for more than a decade to get his hands on the highly sought after blue-faced Patek Philippe Nautilus 5711/1A. This particular Nautilus model has an eight-year waitlist. And since the Swiss watchmaker makes a point of not showing preferential treatment to celebrities: No matter who you think you are you still have to wait for the call.
When O’Leary’s call came, we happened to be shooting a real estate story together for CNBC. On the phone was the CEO of London Jewelers Mark Udell calling to tell O’Leary his time had come, literally. After that brief conversation O’Leary looked happier than I’ve seen him look after he out-negotiates Mark Cuban for a multi-million dollar royalty deal with an entrepreneur on Shark Tank.
“If you’re a watch collector, it’s at the top of your list everywhere in the world and when you see one, the aura drags you right to it. I’ve seen grown men weep in the presence of this watch and that’s never going to end,” said O’Leary.
The tear-inducing timepiece is a sleek remake of the 1976 Nautilus 3700/1A. And the truth is, no one outside of Patek really knows how rare the 5711 is because the watchmaker does not release numbers on how many have been produced since the company started making this model back in 2006.
Why this Nautilus in particular is creating such a stir among wealthy watch aficionados like O’Leary is a bit of mystery, it’s certainly not Patek’s rarest timepiece, nor is it the most complicated. The stainless-steel clad version retails for $29,800, but in Patek’s lineup this model is actually one of the least expensive the company makes.
For the shark whose battle cry is: “You’ve got to know your numbers!” this investment is a bit unusual. Like the rest of us, Kevin has no idea how many 5711s are out there, and that question mark makes betting on the future value of this watch challenging. But here’s what O’Leary says he does know about the 5711, “Everyone wants this watch and NO ONE can get their hands on it.”
He’s also acutely aware that watches as an investment class are on the rise and the values of some rare pieces on the secondary market are skyrocketing.
In the case of the 5711 he’s been circling for a decade, O’Leary says this watch is a great target. That eight-year waitlist and the fact that it’s already trading at more than double its retail value on the secondary market are both clear signs of demand outstripping supply. Also, the fact that this timepiece is made of stainless steel and not gold makes it an outlier for Patek, and the rare steel construction tends to attract collectors. Plus Kevin absolutely loves how this bad boy looks on the wrist and since it’s an investment he’ll wear that’s a major plus. In other words, it all adds up to a Wonderful investment he can’t pass up.
And that’s why O’Leary flies in from Toronto and has his driver whisk him straight out to Udell’s high-end mega-boutique on the “Miracle Mile” in Manhasset, New York.
The 366-mile journey was more than 10 years in the making and when it’s time for Kevin to drop 30 grand on some wrist bling, I tag along with a CNBC camera crew.
O’Leary’s greeted by London Jeweler’s Watch Salon Manager Michael Edelman, who disappears to retrieve the watch from the salon’s high-security safe.
Edelman returns with a dark brown box, and before he can go one step further, Patek’s policy requires he don silky gloves in Patek’s signature shade of brown. Now under O’Leary’s steady gaze the elaborate unboxing begins. Edelman slides off the cover revealing another box wrapped in a soft fabric sheath. When removed it reveals a glossy wooden case with a small silver calatrava cross inlaid at the center.
The anticipation is killing Mr. Wonderful and he can barely contain himself.
“Open that box,” says O’Leary. “I’m freaking out right now, because the moment this box opens and I put this watch on my wrist, I become the envy of just about every billionaire, CEO and celebrity on the planet.”
Edelman unhinges the silver latch and lifts the lid to finally reveal the steel prize inside.
“This is spectacular, wow!” says O’Leary. “It’s just bringing a tear to my eye.”
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I went watch-shopping with Kevin O’Leary - see the Patek Phillipe that made him cry | CNBC Make It.

[@19MAD95]

Guess whose grave I’m going to have to rob

[@jinwoolim5380]

XD

[@OMGz1122]

You need to find out the location of the grave 😂😂

[@roleyondawrist3077]

Hahahahahahaha

[@arnabdeb6904]

😂

[@christoalonzo]

This made me laugh so hard

[@ryantyler44]

Someone of his status doesn’t have to wait 8 years for that watch. Looks like a paid promotion to me but the watch is beautiful.

[@RightWingRadioShow]

Its insulting tbh

[@kevc8835]

He got it for “retail” price, someone else would’ve sold it for more via 2nd market.. Remember, he’s an investor ; )

[@RightWingRadioShow]

@@kevc8835 lmfao

[@ryantyler44]

Christy Fernando Wait lists are dependent on purchase history. If you have never bought from their boutique before it might be a few years wait but if you’ve spent multiple hundreds of thousands of dollars then they will bump your name up the list.

[@TheEasyRail]

Yes, people with even his "status" has to wait for Pateks that is what makes Patek so unique. 5711 is not even an application piece where you need to get confirmation from the Stern family that you and your watch collection is worthy of the piece.

[@sleepeatdrive7619]

Is video is legit. Anyone can buy that watch used for $80,000 BUT hardly anyone can get one straight from the Patek dealer brand new for $30,000. I’m happy for him and commend him for waiting and not spending the extra $50,000 to get it 10 years ago.

[@nguyendh92]

The nautilus only gets hyped recently. 5 years ago it was around 20,000 in the used market.

[@SolomFoz]

Spending 30k for a 50k profit after 8 years at minimum is just plain stupidity. You can invest this kind of money in stock market and get much more than that.

[@sleepeatdrive7619]

Hundred beast Kaido yes anyone can, the opportunity is there on used watches. But not everyone has the financial ability to do it.

[@byFolkZ]

@Hundred beast Kaido Google it, there's more then 14 million millionairs in the United States.

[@a1bells501]

I. Fawzy so what profit is profit. Many ppl don’t even invest at all. Besides maybe the main reason he bought it is because he likes it. If he likes it he can buy it then when he gets bored he can sell it later in the future at a profit. The amount of profit wouldn’t really matter if the main reason for purchasing the Watch was not for investment purposes. It’s not like a guy like him needs $50k profit anyways dudes worth $400m+ .

[@shewonwilson8704]

Profit first.....then happy tears!

[@matty00926]

Watch isn't my cup of tea but I can appreciate getting emotional about acquiring your holy grail

[@waltheisenberg5620]

Funny, I had the same feeling in 2010 when just about all of the classic thin cased Rolex 16610 Submariners were just about all gone from the AD's and replaced with the new maxi case ceramic 116610LN Submariner we have today which I still haven't warmed up to. After searching many AD's, I ended up finding one dealer 150 miles away that had one and was offering at the normal retail of $6000 without price gouging. When I arrived, they pulled it from the safe and after speaking with the sales lady, she gave me a 8% discount and threw in a extra link for my larger wrist at no charge which she really didn't have to do considering how sought after it was with the new ceramic models rolling in. The classic 16610 was only made a few years with the RolexRolex rehaut engraving which probably drove demand a bit as transition models tend to hold a slight price premium in the collector market years down the road.

[@Tae.B.]

To be honest, i dont see anything special about that watch......plus they have watches that are much more expensive than that. So what is so special about this watch you have to wait all those years again?

[@SupremeProductionsYT]

It's a PATEK.

[@Tae.B.]

@Cassian Im not talking about the watch itself. Im speaking of anything that is expensive that you have to wait for such as prebooking month in advance for restaraunts. Im all for luxury for those who can afford it but some things are just too much when less would do them just fine. And im sure this watch doesnt cure cancer

[@dafranjames5396]

He can afford whatever watch he wants, the waitlist of 8 years makes the watch more rare then say a 200 thousand dollar watch. This is because time is money.

[@Tae.B.]

@@dafranjames5396 That waitlist is only to give rich people the idea of the watch being "special", but still, the watch is just a watch. It doesnt cure cancer

[@dafranjames5396]

Michael B Of course not but it makes it rare.

[@TheWantedghost]

I have been waiting for my 40 euro edifice watch more than 1 year , because I didn’t had a money to buy now im proud i own it

[@mlr3268]

Good for you man! Always proud to see people getting their grail, either that’s 40$ or 40,000$. Edifice are a decent Casio line too, which makes it even better. Kudos

[@morningwaves]

Hard to believe that someone with his purchase history potential would have to wait 8 years. I've seen him buy several FP Journe's at a time which are much rarer than a Nautilus.

[@JosePena-oe3be]

30k isn't half as bad as to when I hear my favorite rapper talk about spending 100k+ on 1 watch lol! Not to even mention that he could easily make double in profit than what he got it for.

[@nishantprakash5928]

Rappers apply diamonds on their watches. Which reduces it's value by more than 50%, not to mention, they do it to flex only. If anything, Rappers who ice out their watches are lunkheads.

[@davecohn5546]

Nothing could be more inexplicable than the human capacity for creating illusions of value and worth.

[@dduchovny2270]

!save

[@nczioox1116]

Just look at crypto and NFTs

[@vashmetfranz6697]

Everything that money can buy, phones, food, bike, car, are priced based on the illusion of value and worth. This video is not a special case.

[@walidzein1]

Sad reality indeed

[@Andreitism]

Patek, truly the kings' watch

[@visho8979]

I respect this guy. He's wise and honest. But I'm getting tired of seeing him in my suggested content.

[@harg8939]

The 5711 was not difficult to get back in 2010-11. So his actuation of waiting for x years is hard to believe.

[@XKillerX25]

I bet it gives the same time as my Walmart watch ;)

[@danielelim8276]

Bryan Abad thing is your Walmart watch is a battery operated meaning it’s more accurate.

[@3222841]

try and sell your watch for 3 times the retail then?

[@Kjohny44]

some person among 100k+ who watched this will definitely try to dig that 5711 out of the ground for sure

[@dneuman7455]

Rings and cuff links can really set off a watch even tie pin can compliment jewelry.

[@KCJbomberFTW]

I thought there would have been a red bracelet involved if he was waiting that long

[@vinceslapchopper]

To me, that's ten years lost not enjoying the watch just to be able to flex in front of everyone that you bought it at MSRP. If it meant so much to him, he would have bought it preowned and enjoyed it for what it is, a watch and not an investment.

[@DonLee1980]

"Nothing brings a tear to my eye like making money" - says the guy who told everyone to invest with FTX.

[@talljohn5350]

Patek has some beautiful watches but I just don’t see it in this model. I can appreciate what it is but to each their own I guess.

[@cecielhelder5923]

I remember in 2008 mulling over buying this, for around $15k or the 116520 I had been on the list for since 2005. No list for the 5711 at the time. Daytona was $8900, much cheaper and I liked its looks better. The Patek you need to see up-close to really appreciate. Stunning watch but crazy seeing these go for $150k+ these days.

[@AK-ct9pd]

1:02 That evil laugh

[@vicenteguzmanp]

Two years later, the watch is worth close to $120,000. Amazing watch and even better investment. Bravo Kevin.

[@eshrafe]

this watch is literally like my DREAM watch but im only 17 this year and by the time (if only) i’m able to afford this watch the price would be like 200-350k

[@BernardBonomo]

Excited to film Kevin this week here in Miami!

[@AlShaul]

Sounds like BS to me…for someone who makes a lot of $$$ he’s not spending $30,000 on a watch and waiting 10yrs…he’s spending over $300,000 and waiting 10 min.

[@garssympa500]

Kevin knows that if he sold it on the after-market, Patek Philippe would never sell him another watch.

[@Phunkiedeknition]

I have two of them superglued to each other. Double envy

[@DouglasLee9]

That is a beautiful watch!

[@iWh15tl3]

Can't take it with you O'Leary.

[@andresi8692]

Sorry, but Kevin O'Leary's exaggerating *everything* here. It wasn't even 6 years ago that you could walk into any authorized Patek Philippe retailer and purchase a Nautilus if you so wanted one. The hype only started exploding in 2015/2016 and after. 8-year waiting lists? No, not really, not even today. If you're a loyal client, you'll get it far sooner. If you're not a loyal client, you won't get it at all.

[@natureboyricflair8555]

Glad he’s keeping it and not flipping it! Mr wonderful doesn’t need 50k.. he could walk outside and give it to a stranger and it would be less financially impacting than most of us losing a $100 bill.

[@SkoolyRatt]

I just found this watch in a rental car and I'm not even into watches or material items

[@Sakurazuki139]

I got mine BNIB 5711 in 1 month :) I am nowhere near his status but very lucky indeed.

[@KCJbomberFTW]

Yeah why did he have to wait 8 years?? Just to get it from Patek themselves?

[@chrisalbadine3737]

RELAX THE WATCH IS A STIFF

[@ShaqShalom]

Oh... A watch.

[@kimani3597]

Blueface baby.. yeah ight

[@vika0194]

Rare, sure. But it looks completely ordinary.

[@CapitanTavish]

Kevin grand seiko value for money O’Leary

[@havefunbesafe]

Sharks dont cry.

[@sinjon]

This is a guy who admittedly had his watches stolen twice

[@victor8794]

its no where near 80k on the secondary market. you can get a new one for $50k very easily.

[@The_real_Mr_Ghost]

rolex daytona is king

[@sirgeorgioalastrata4104]

No it isnt

[@chadallen8490]

Nice watch, but definitely not the envy of a millionaire. More like the envy of middle class....

[@yourhistorianofficial]

Is he buying watch or selling it?

[@FJX716]

Where can you talk to someone about finding one of these, that’s what I want to know.

[@liang306]

A watch designed look like electric watch.

[@ernistifer]

Pay over retain man - don’t be cheap or wait 8 years. Knowing you you didn’t wait that long

[@chris5k132]

That watch will worth a million very soon in the future.

[@erosson27]

Did he change it to a red band?

[@the7311]

This guy isn’t as rich as you think.

[@stevesolo16]

Does this watch have the Gem face?

[@AlIegory]

artificial shortage

[@NukeVSPuke]

Crocodile tears

[@leeattwood5443]

THE PRICE I EXPECT

[@vgcamara]

$30k and has that horrible date wheel 🙄 No one believes he waited 10 years for this watch. this is all staged

[@TheAlphaBeast007]

I have the same watch but its BUTEK PHILIP

[@chartliner]

There are lots of watches that are better looking than that one for a lot less money, that watch his homely.

[@mattglass8247]

Now they have stopped making them, 30,000 just turned to 100,000 or more 🤘🏻

[@JeremyIan]

Way to keep rubbing it into the poor, CNBC. Way to go...

[@dneuman7455]

I have cheap Bulova watch its broken bought it 10 years ago. Its a square face in yellow gold with diamond chip noon. I might wore it about week.

[@dneuman7455]

It was an I grabber so I quit wearing it I thought I might get rolled in surrey. Lol just kidding it was suit watch. Real thin mechanics on it battery and wind up. Looked pretty spiffy with citron gem in a silver ring .😆 the gem set off the watch . It was very powerful tool for sales.

[@dneuman7455]

Kinda like the golden pen power.

[@kaderize5730]

For a watch. Think about that

[@funnyshortvideos2954]

Ugly watch honestly

[@igo0di]

Beautiful

[@300iqwizard5]

It will be mine........... Oh yes it will be mine.

[@vickyalexandersieto]

How much patek pay for this ad?🤔

[@Hasan9t]

Zero. They don't need ads.

[@cascooter]

It’s sad that all he sees is dollar signs and that it what “brings a tear to his eye”. Pathetic.

[@enterauh72bx]

Im buying a shovel Kevin lol 😂 2 shovels

[@neverforget1447]

Sorry, can't take it to the afterlife.

[@fatinnoor2422]

Dude, it's just a watch. I don't find anything fascinating with it.

[@rivernorthhomes]

Sorry but that is an ugly looking watch and so are AP's.. nothing beats a classic looking Rolex

[@brandonnixon7105]

No one waits 8 years for this. If you do your a chump. Patek has its clients, they get what they want. Your probably a nobody to the brand if you are on a waitlist.

[@laozdruni6856]

My 180$ timex looks better than that but than again the Falcon Eye is a product of beauty

[@rapbenny]

Great Video

[@shaqattack3525]

Phillip Matek too much sauce.

[@whitebuffalo4904]

Hey Kev, hope you declared the 5711 crossing back into Canada! :)

[@JustinCarter]

It won't come with you in the afterlife.

[@judgethe8046]

At his age get a life if you have to wait 8 years for a watch drive yourself.

[@unleashingpotential-psycho9433]

nice :)

[@khuramzahid]

Placebo

[@denmark39]

Envie drives this man...😩

[@ag-bk5wf]

Looks like a Fossil.

[@AlmostGod007]

Waiting for 10 years what a liar he is !

[@robbryant52]

It's a watch for god's sake

[@leonkorno3927]

That you can flip lol

[@vbr20]

Doesnt Bill Gates wear a cheap watch?

[@dr6932]

vbr20 he also owns a $100Mil+ home. What’s your point?

[@gandrew5363]

Can’t stand this guy.

[@MikeyFFA500]

What a garbage clickbait title...

[@TheDominator74]

First world problems. So superficial. Uuh look at my watch. No I am So happy for him. We are all gona die and 2020 has shown mother natures powers. But at least he got his watch.

[@infinityprodinc]

this watch looks so ugly...common

[@nassimtokyo]

Fantastic watch, but recession is coming, 30000 $ in a stainless watch !!!! OMG, you can buy a small unit with a fully fridge.... tough time is coming

[@ramboxlegacy14]

People with $1bil+ net worth don’t care about the working class recession.

[@mattrkelly]

christ, its not even that good...

[@CommandoMaster]

It's a good investment for Kevin because he knows he's getting 50k for free upfront.

[@akajiblubb2401]

wow one of the uglier patek watches ive seen so far. why this one?

[@iamdavis012686]

Ugh, that watch looks boring and ugly. Glad he wasted so much money on that....

[@evilmanua]

meh

[@pejpm]

He seems like a nice guy, but he knows absolutely nothing about watches. First of all, the 5711 has been ‘impossible’ to find only for a few years now. The idea that he’s been pursuing it for a decade is just absolute nonsense. It’s always been popular, but it’s only relatively recently that they’ve been selling for the crazy prices we see today. Second, like the Daytona and the AP RO and the FPJ CB, the recent scarcity has fueled the market and now you have thousands of dickheads who now suddenly want them, just because they’re hard to find.

[@lgiraldo2587]

Pejpm, Absolutely right. 5711/1A is RARE!! It is Nonsense.. Lmao.. Anything that you can buy off a website that lists DOZENS of the so called "RARE" item (even over retail) it is no RARE in my books.. same goes for SS rolex... Lol

[@pejpm]

luis giraldo exactly. He should try finding a Dufour Simplicity!

[@ANonyMouse627]

I bet the watch salesman is just smiling and nodding but in his mind he doesn't fathom ever putting down $30k for a watch.

[@nursultantulyakbay7070]

I bought this same watch for $15 at a flea market in Istanbul and didn't have to wait 8 years ;)

[@shaunong7125]

Fakes are for losers....smdh

[@Tylshel]

I used to look upto to Kevin but it's obvious after watching this video that he's a sellout. A smart guy would never buy into this marketing crap. It's just a watch, nobody cares unless it has ios or android in it. Scam for old people.

[@coolstuffunboxings1127]

@Jorn Navarre Yeau but you can get the battery changed out. Just open it up

[@watchclog2979]

I got one in 2 years but hey ho