PATEK RARE HANDCRAFTS
How does Patek Philippe allocate these Rare Handcrafts?
Tavern in the Alps
pocket watch.
This year we have eighteen unique dome clocks, eight unique pocket
watches and twenty-eight wristwatches, all in limited editions. After
one week at the Baselworld, we had fifty to sixty customers asking to
purchase each dome clock or one of the pocket watches. This is a
fantastic situation, but imagine that in just a few weeks Thierry Stern
has to allocate each piece to just one person. It is almost mission
impossible.
We tried to be fair every year to allocate each piece to a different
customer. This customer has to be a loyal, passionate customer who
we know will enjoy the clock or watch, maybe even exhibit it at home.
Or he will enjoy wearing the wristwatch.
Do you have input into this allocation process?
All the markets across the world get requests from end customers
through their retailers. We also transmit requests from end customers
of the Geneva salon.
The manufacturer has a list of customers who have a piece already
and those who are requesting one for the first time.
And no, the Salon does not get the first choice at these pieces. Patek
Philippe has respect for its retailer network, which I would say is the
opposite of the other groups. Sometimes we have customers who
think they can go to the Geneva salon and get whatever they like. That
is not the case. We have our allocation like a retailer and we have a
long waiting list like a retailer. We are treated like a retailer. This is very
important to the Sterns. We at the Salon also hope we get allocated
some of these pieces as well. Now, in terms of size and number of cus-
tomers, we may have an advantage by proportion.
Just to give you an example, last year we got two dome clocks. So
it’s not like we got all of that production. Of course, last year was a bit
different because of the grand exhibition in New York. So last year half
of the production was allocated for American customers.
Mr. Stern is going to look at the profile of the customer. The custom-
ers here who got our dome clocks were longtime customers who never
got a dome clock previously. In fact, they have requested a dome clock
for many years. One of those customers has been a regular here for
fifteen years, and the other for twenty years.
Patek Philippe Ref. 5531
Minute Repeater
88 | INTERNATIONAL WATCH | FALL 2018
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