This week, statements by Thierry Stern, President (and owner) of Patek Philippe, have held the centre stage in discussions among enthusiasts.
After all, the future of the Nautilus collection, i.e. the possible replacement of the last 'object of desire' - the 5711 in steel that has just gone out of production and is already being traded at figures touching 100,000 euros - is a hot topic.
To those who continue to wonder why Stern has decided to discontinue production of the 5711-1A, the president replied directly, in an interview with the Neue Zürcher Zeitung last week: "First of all, I don't want a single model to suddenly make up the 50% or more of our collection and dominate Patek's image", a golden lesson that some brands have yet to learn. There are enough examples of important names being swallowed up by the success of a single model to easily prove Stern right, whose first duty is to preserve the value of the brand and thus protect the collectors who believe and invest in Patek Philippe. Yet not many top managers have the courage to make this same choice.
Regarding the phenomenon of speculation on the steel Nautilus 5711, a jab is directed at the dealers about the endless waiting lists: 'I think our dealers have a responsibility here. They know exactly how many pieces they are receiving. However, they seem to find it difficult to tell a customer that he probably has no chance of getting a Nautilus. Instead, they put him on a waiting list, which gets longer and longer. It's too easy to say that it's Patek Philippe's fault, that they simply don't produce enough watches.
Concluding on 5711, Stern makes an announcement of sorts: 'You don't abandon a model like this without having something new up your sleeve. But I won't talk about that until the watch is launched. What I can tell you, though, is that we like to say goodbye to special watches with a little surprise. So there will be a farewell series of the 5711, which will be a little different. These watches will be produced soon and will be launched this year. I already know it will be another nightmare in terms of demand, but I am counting on my dealers. Contrary to what was published the same day in the New York Times, the House informed us that these watches will not only be distributed in Patek Philippe Salons, but dealers will also receive them in 2021. The wait continues. And the rumours too.
