When luxury is no longer enough
They are rich, very rich even, and there are more and more of them on the planet wanting to satisfy their need for owning something exclusive. According to the latest census realised by Capgemini and Merrill Lynch, there are in point of fact nearly 100,000 individuals across the five continents with a fortune above 30 million dollars, not including their main home, in other words a population that is increasing at a yearly rate of some 10% while their assets exceed 13,000 billion. Figures to make the heads of not just simple observers swim but above all the whole luxury industry, for which these people represent a privileged customer base with special requirements. There’s no longer any question here of wanting to satisfy demand with standard products, as prestigious as they may be; the absolute consumerist’s quest is directed towards rarity, uniqueness and tailor-made products. Watch making of course makes no exception to these new hunting grounds of the most well-off class on the planet, a watch making that has understand that it’s in its interest to offer timepieces edited in extremely limited series, indeed unique pieces, to correspond to the wishes of aficionados anxious to distinguish themselves from ordinary mortals.
Consequently should we be surprised that for ages now the top of the watch making pyramid has been taking the whole industry from record year to record year? Examples of one single copy of a watch being made and sold in the hour following its presentation are today legion, as "Diamond Emperador Temple" by Piaget or One Million $ BB by Hublot show (read our "Focus"). It’s pointless to say in this context that price is in any way an insurmountable barrier, quite the contrary. The rarer and more expensive the pieces, the more they interest this particular customer base , for whom the purchase of a watch may very well have something in common with one from a submarine that can be fixed to your personal yacht. And if we’re talking about millions, it doesn’t matter! When you like something you don’t think about the price. Watch makers have grasped this concept well. Practically all new brands being created are looking to be the profession’s elite, even if legitimacy isn’t necessarily a reality. When will refinement be on the menu? ■
Christophe Roulet
