Patek Philippe’s CEO On Why The Discontinuation Of The Iconic Blue 5711 Nautilus Was Necessary
As Swiss luxury watchmaker, Patek Philippe, recently looked to launch an olive green version of Patek Philippe’s stainless steel Nautilus watch, the debut also marked the discontinuation of one of its other iconic timepieces, the blue 5711 Nautilus. And so, while the launch of a new collector’s item sparked joy for many, it also marked the end of an era and mixed emotions for luxury watch enthusiasts.
The discontinuation of the iconic blue 5711 Nautilus left many thinking it was a mistake, but Patek Philippe’s CEO, Thierry Stern, deems the move necessary. In an interview with the U.K.’s Telegraph, Stern notes that while many may resent the move, he expects the launch of the green dial version to be would be high.
“Some would say that deciding to stop production of the iconic blue-dial Nautilus Ref. 5711/1A-010 was a mistake, but to me, it was necessary,” said Stern.
Stern notes that the move to forgo the blue dial came with luxury watch collectors in mind.
“We don’t want to produce too many of any single reference as this will lower the value, which is not good for our collectors. Another potential danger with such a strong reference is that it can turn you into a mono-product brand and that is not what I want. If suddenly the market decides that it has had enough of the design, I need to be sure that we have many others in our arsenal. But you know, I’m not stopping the entire Nautilus line, just this one reference. And, of course, I have a plan B. I’m not going to stop such a piece without having another idea — I may be crazy, but not that much. You have to wait a little bit, but, yes, something else is coming.”
Stern also touched on the recent listing that appeared on Antiquorum, featuring a green-dialed Patek Philippe Ref. 5711–1A-014 Nautilus. The listing left many people puzzled as it was not only listed at $34,893 USD — a 900 percent markup, but it was also still sealed in its original plastic factory wrap — something that was stopped in 2017 by the request of Patek Philippe to its dealers.
“We try to avoid selling to people who will flip the watches like this, but it’s not easy to control.” For those upset that they will most likely never get one, Stern slipped in that he himself couldn’t even get one for his own son and that it just adds to the “beauty and myth of Patek Philippe.”
Originally published at https://retailbum.com on July 9, 2021.