BUSINESS

TIMEPIECES, PASSING THE BATON

Mathilde Binetruy

It has become a buying argument for many clients of investment age: heritage. As the following scene illustrates. Bücherer Boutique, Geneva, July 2022. Raphaël, in his early thirties, strolls past the shop windows accompanied by two of his old friends. He came over from France WE ALSO CONSIDER OUR specifically to buy a watch. However, WATCH AS AN ITEM THAT not just any watch. "So this is my story, I became a father just last week. I've LASTS FOR YEARS, A LINK TO come to buy a watch that I can pass on THE FAMILY, AND A WAY OF to my son." He is speaking on behalf PASSING ON THE BATON. of an entire generation. Acquiring a watch is no longer just a matter of personal pleasure, on the contrary. Henceforth, the joy of buying a timepiece has become less self-centred. We also consider our watch as an item that lasts for years, a link to the family, and a way of passing on the baton, in short. It doesn't have the same meaning. Here, in this instance, there is also an emotional, symbolic element. Patek Philippe was among the earliest to understand the importance of this link between the past and the future. In 1996, the brand launched an advertising campaign with the now famous slogan: "You will never completely own a Patek Philippe. You will just be the custodian for future generations." The image represents a father and son, a mother and daughter, sharing an activity: travelling, learning... Absolute genius of a statement! The advert developed by the Leagas Delaney agency was right on target. Twenty-five years later, it is more relevant than ever, as the 35-45 age group has never been so attached to the idea of "passing on" to the next generation. However, careful, not with just any watch. One is capitalising

ROLEX, PATEK PHILIPPE, AUDEMARS PIGUET, OR EVEN SWATCH: HERITAGE IS THE FUTURE AND SOLID VALUES.

on a desirable and rare piece; this is an investment. There are a number of references in this area: the Cosmograph Daytona, the Submariner, or even the Oyster Perpetual from Rolex, the Royal Oak from Audemars Piguet, and also the Nautilus from Patek Philippe. Should one always opt for a luxury brand? Not necessarily. Another idea would be to buy the bestseller of the year, such as an edition of the Swatch x Omega collaboration in 2022. The new clients are experts on the subject. It used to be that in watchmaking, there were collectors (many), enthusiasts, purists, and speculators. These people constituted the portfolio of the manufacturers with their habits and rituals. The "heritage" consumers joined them. This is refreshing, because the values they advocate - durability, the instinct for preservation, tradition, and so on - are linked to watchmaking and prove that buying a watch is above all a question of emotion. What is important is the desire to reconnect with a memory and re-inscribe it in the present with a material, embodied object. This enables one to recognise where one comes from and to project into the next generation. Montaigne said "It is a way of extending one's being". This is how Raphaël left the Bücherer Boutique with a Rolex Oyster Perpetual and this engraving on the back: "Gabriel, 12-07-22, with all my affection. Daddy".