Horological Meandering

MTF
[PuristS]
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Time for Contemplation

Dear forumners,

I was privileged to have attended the private PuristS session with a gang of PuristS forumners.  It was presented by Mr Alexander Schmiedt, when we could "go deep" into the Montblanc rationale and also "feel" and compare the watches with the targetted rival chronographs - Lange Datograph and LUC Chrono One. 

Thanks SJX for arranging and Montblanc to have extended the invitation to PuristS in the first place.

I did not make an immediate posting because there was so much to absorb and contemplate before the regular "Friday wrist shot frenzy", so (Harry), I would not read too much into the slight delay by other PuristS   (Nice photos, by the way - Harry)

Montblanc has a long (100+ years) heritage as a brand with "some expertise" in craftsmanship and luxury    .........understatement or what?   So, I would not need to wait to see what they are capable of, before making a purchase, if I liked the watches. That'll be like waiting to see if Coca-Cola could make fizzy drinks.

This 3rd tranche of Montblanc watches is pitched at the high-end but also the old-end. Montblanc has been through at last 2 previous levels of watchmaking. Without a doubt, Montblanc management considers these Villeret Collection as Montblanc and not just re-hashed Minerva from 2005. They have respect for the history at Villeret but the fact is that without major backing, there would have been no Montblanc Villeret range, and maybe no Minerva.

It was interesting to note that Minerva was too small to even have quartz watches in it's history; truly this is one brand that can claim "Never has there been a quartz (insert brand here) watch......"

So, what's the deal? Why are they willing to make a loss on every Montblanc Villeret watch...at least at the beginning? Mayhaps, there is some truth in previous speculation on this forum: it's a tester of market and QC check; like Lange did between 1994 and 1999. In 1999, Lange 1 models were sold at cheaper prices new than 2nd hand prices today.

Clearly, Montblanc has acquired a heritage in chronographs and want to focus on that, particularly with the big balance wheels and in-house spirals. They have upped the ante with some black polishing compared to previous functional finishing but (not yet) at Lange levels. Their prices are set appropriately (for 2008) below that of Lange and LUC. Their limitation is production and staffing capacity, especially for the balance wheels, spirals, polishers and watchmakers. Hence, note their avowed strategy to only produce the current Villeret collection for couple of years before "moving on to other things".

That is why they can "make a loss" on the current watches. The costs are already amortised and written off in the purchase of Minerva and the current movement stock from 2005. In fact, even breaking even is a bonus. The real value to the corporation is the R&D and training that is going on now....... plus hiring and training.

Meanwhile, they hone skill sets, build upon the tag line: 'Pure Mechanical Watchmaking', refine their components and then.....really compete with the top rivals. In this business, to compete means beating your rivals on as many points of the value proposition as you can. In fact, I suspect that the Target Product Profile requires Montblanc high-end watches to beat the rivals on each of THEIR strong points for an overall balanced winner.

So, what to do with the current crop of watches? It really depends on whether you have unlimited means, patience and luck. Do you wait until the prices go sky-high for a little better finishing in future? Or just get in early now with quite a nice feeling chronograph? Get in early with a watch that will stop production in a couple of years with potential to become a "historic" piece that marked the begininng of Montblanc haut hologerie....or not, as the case may be.......you've got to "speculate to accumulate" or take the cautious normal route to own yet another common Patek Philippe or Lange (at this low price point). What will it be for YOU?

Hypothetically, if I had to choose a Montblanc:

I preferred the smaller 41mm chronograph movement (monopusher at 2 o'clock), which had a smooth action and crisp break; not far off a Lange Datograph or LUC Chrono One. The larger 47mm coaxial monopusher chronograph has a stronger column wheel spring that (ever so slightly) has more resistance and secondary vibration at the break......not to mention that I don't like big wristwatches......

Regards,

MTF

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