Audemars Piguet Code 11:59 Perpetual Acquisition

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GreatPilot@me.com shares a significant acquisition: an Audemars Piguet Code 11:59 Perpetual, secured with a promise for a future Stainless Steel Double Balancier Openworks. This post offers rare insights into AP's distribution strategy, including production numbers for the Code 11:59 collection and the brand's shift towards boutique-only sales.

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Hello all, thank you all for the help holding my AD’s feet to the fire to get what was promised me, the SS Double Balancier Openworks. I did purchase the Code 11:59 but with a promise and subsequent follow-up email I would get the first SS Openworks they receive in 2020. Not exactly getting the next SS Openworks but I’m satisfied with the compromise.

Actually after seeing and trying on the Perpetual I loved it so I’m happy to have it in my collection. So news for AP, I learned from the AD and higher ups, there are only going to be 1875 (give or take) Code 11:59 models made for the entire 13 watch collection, at least for this year, celebrating their beginnng in 1875. I was not told it was a limited edition but in the case of the Perpetual there will probably be less than 100 of them and probably all will be sold out mid year with 50 AP boutiques. I was also told they are shutting down ALL other AD’s (Westime etc) and starting new boutiques while keeping their porduction to 40,000 watches meaning there will be more watches for boutiques for now until they add more new Boutiques. Most anything you want is “Boutique Only’ so not sure how the shutting down of AD’s and adding more Boutiques (slowly) will affect available...Jim

Key Points from the Discussion

The author's decision to compromise on the Code 11:59 Perpetual was influenced by maintaining a long-standing relationship with the AD, who previously delivered hard-to-get pieces like the SS 15202 and titanium/platinum chrono.
The Code 11:59 collection is reportedly limited to approximately 1875 pieces across all 13 models for its launch year, with perpetual calendar models potentially numbering less than 100, making them scarce.
Audemars Piguet is transitioning to a boutique-only sales model, shutting down other Authorized Dealers and slowly opening new boutiques, while maintaining a total production of 40,000 watches.
Some collectors view the bundling of less popular models like the 11:59 with highly sought-after pieces as a strategy to create artificial scarcity and declare the new collection a success.
The strategy of requiring purchases of less desirable models to gain access to popular ones highlights an 'ugly truth' of the luxury industry, where customer relationships are transactional and constantly renegotiated.
The Audemars Piguet Code 11:59 Perpetual is considered by some to be the best design within the entire 11:59 collection, fitting the aesthetic perfectly.

The Discussion

Clueless_Collector

Apr 2, 2019

Boutiques only means no discounts, which I like...

then they don’t have to produce more watches which goes to grey markets. All prices are fix and similar across continents so consumers don’t need to shop around and/or later regret prices dropped or lower in another place. I prefer this trend, but it’s just me....congratulations and thanks for the news. I hope they are not using you to spread the code 11.59 is going to be very limited and hard to get, sought after etc...🤣😂

redcorals

Apr 3, 2019

Dont the discounts come from the ADs pocket anyways? Net Net AP makes the same via AD or Boutique if you take fixed costs into ac - maybe a bit more perhaps with full control. I..

think they cud get serious about pre-owned AP watches.

Clueless_Collector

Apr 3, 2019

Yes, but if Boutiques sells directly to consumers, they will make even larger margin, hence my comment they don't have to make too many...

to get the same or better revenues/margin. I also feel if they allow trade-ins of their own or group pre-owned watches, I am willing to do the trade too, skip the middle man.

GreatPilot@me.com

Apr 3, 2019

Honestly I like all the ADs I deal with

But I like AP’s overall company approach to make more $$ with less even though it will hurt the AD’s. It would be great if they would take trades but they haven’t went there with me...Jim

GreatPilot@me.com

Apr 3, 2019

yes the discounts come

From the boutique or AD’s pockets but AP has a plan to use those discounts to enhance the customer experience, say a good customer gets a trip to the factory instead of a $7,000 discount or?...Jim

GreatPilot@me.com

Apr 3, 2019

Hi Raymond

The informatioon I received about the limited number of Code 11:59 pieces across all 13 models came from both the boutique and regional manger I deal with, it is true. I think the way this will play out is the Code 11:59 will be a slow go for awhile but it makes sense if they keep Total production at the same level, (what I was told) the Code 11:59 will become scarce at least for the high end complications. Time will tell if my prediction comes true but I really liked the perpetual in the flesh,

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Audemars Piguet Code 11:59 Perpetual Acquisition

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