Thierry Stern explains, “For Patek, we have a lot of reserve cash, and when we had to shut down for a month and a half … it was OK. I knew I had to decrease the quantity [of watches produced] for the year. The target was about 60,000 to 65,000 pieces. I c...
I have no numbers for 2020 yet, but I can tell you that Patek's 2019 official production was of roughly 62,000 watches (of which 8k manual wind, 47k automatic, and 7k quartz for ladies models). So if a 30% decrease is the expectation by the end of the yea...
...I would not be happy about paying $90k for a watch with a movement that is machine-finished. Even if it is finished by hand later on at some level. I would rather buy independent even though those watches are quickly climbing out of sight price-wise......
By: Spangles - Dr. Tabby : November 25th, 2020-10:56
Up to annual calendars and sport watches, at least. As for machine finishing with a hand-finishing final step, that is the way things are done even for most independents, as I'm sure you know. Even Roger W Smith is using CNC machines and Philippe Dufour i...
...but afterward I would want that machine-cut piece to be finished by a person and not left 'as is' or finished further by yet another machine. Don't get me wrong, I really like many PP watches. But if I had FU money (I don't) I would buy a PP watch and ...
Dear Mr. Stern, The most important fact is that the quality and style of your product is maintained. We are all sorry for the international misfortunes hovering from above. Firstly I wish better health conditions to all on our planet...and I am glad that ...
For me the big question is whether the pandemic has negatively affected demand so much that the 30% decrease in production represents too many watches for the market.