Why the Tiffany blue Patek Philippe watch wound up so many rich people

South China Morning Post

4 days ago

Tiffany salespeople called them the 'watch monsters'. The obsessives. The wealthy shoppers who were sure they should be among the chosen few to get their hands on a rare timepiece from Patek Philippe.
They descended on Tiffany & Co. a few years ago, when the retailer began offering a limited-edition Patek Philippe Nautilus 5711 with a dial in Tiffany's signature robin's-egg blue.
Patek crafted 170 of them, a tribute to the number of years the brands had worked together. Tiffany hoped that the timepiece would help attract and retain high-end shoppers who were not already regular customers.
Yet the Blue Dial, as it became known, was never for sale in the traditional sense. Demand was so high that Tiffany executives, including Americas head Christopher Kilaniotis, realised clients would be willing to spend millions of dollars on other jewellery for the chance to buy the coveted watch, which was priced at US$52,635.
Salespeople were instructed to guide top prospects toward spending US$2 million to US$3 million, according to people familiar with the sales strategy. No official wait-list. No guarantees.
Only 170 of the 'Blue Dials' were made. Photo: Tiffany & Co.
When the Blue Dial arrived, wealthy shoppers' desire for luxury watches was in overdrive amid a pandemic-era buying frenzy. It instantly became one of the most talked-about objects in the luxury world.