Iconic watches storytelling to outperform
Source : https://monochrome-watches.com/omega-speedmaster-60th-anniversary-omega-baselworld-2017-predictions/
Despite the scary luxury watch industry crisis some brands are outperforming and three of the most iconic luxury watches in the world have turned some decades in the last months.
Patek Philippe Aquanaut turned its 40 last year, Rolex Sea Dweller 50 and Omega Speedmaster 60 this year.
Source : https://monochrome-watches.com/rolex-sea-dweller-43mm-126600-single-red-baselworld-2017
Iconic watches to boost sales and brand image
All of them are « The Iconic Watch » for the related brand.
I won’t write about the history of these watches as it will take other decades for each of them and also because they don’t need any presentation. I will tell you that nowadays in the watchmaking market if a brand has an icon among its models, that brand is blessed and can survive and be profitable, even in these periods where the market has dropped about 20% for the range of price between 3,500 CHF and 50,000 CHF. Having an icon will give the brand the chance to have an everlasting cash cow, advertising it whenever there will be the anniversary of that model, filling pages of magazines, newspapers, specialized blogs and so on, having a huge return in term of buzz and awareness.
Decades of storytelling
Just imagine the storytelling about the date of birth of an iconic model, all the version across years of that model, limited editions to speak about. Then having an icon really drives crazy all the collectors of that brand and that watch and the anniversary edition are usually sold at a higher retail price and are the must have at auctions for collectors, increasing the average price of the brand and leveraging also other models maybe less known.
The price of iconic vintage watches in the second hand market or auctions is between 5 and 10 time higher the original one, at least ! A lot of brand finally understood it and so, not having an icon, are trying to « invent » it, investigating their historic archives or designing brand new models,but looking like iconic models of other brands, just thinking about all the vintage “submariner” style seen at Baselworld 2017 or models like the Autavia from Tag Heuer, the Fifty Fathoms from Blancpain, Tudor Heritage Black Bay, Breitling Super Ocean Heritage, the list is quite long.
Source : https://monochrome-watches.com/tag-heuer-reintroduce-autavia-2017
Source : https://www.breitling.com/fr/models/superocean-heritage/superocean-heritage-46/
For a luxury brand is of vital importance to have an icon, a model which will be a must have for watch collectors and vintage watch collectors, a watch masterpiece able to tell the time but above all the history of the brand.