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Patek Philippe

Yes, I believe Patek does need to bring a substantial,

 

steel-cased watch to the market.  The introduction of the Aquanaut was targeted at that the younger market but seemingly lacked the robust features that the younger market wanted. 

The difficulty I see from Patek's perspective is the cost to develop such a piece which would more than likely demand a new movement which would withstand the rigors of youthful wear, something they have not seemed to be interested in pursuing,  but rather incorporating existing movements in new case designs.  They have many case designs to draw from, as they have successfully brought forth since the 150th Anniversary watches, so I don't believe that issue is as difficult as the development of a new movement which would be unlike anything currently produced. 

But, if you are suggesting a new case design in steel using existing movements, then the issue that arises is the allocation of movements to the steel watch vs. a gold watch and the effects of profitability for the company. 

Without a new movement and simply casing an existing movement in a steel case, the question to answer is if a gold watch is available at $22,000 or you could buy the same basic piece in steel (with a different case design as you proposed) at $18,500-19,000...what would you do?  At these price points, I think the gold versions would outsell the steel models. If you look at Rolex and compare the submariners, the gold version is somewhere in the $30,000 range while the steel version is around $7500.  I feel certain the steel outsells the gold by wide margins.  Those are bracelet versions, looking at strap models llike the datejust, gold on a strap is $17,700 and steel on a bracelet is around $6500. Again, the steel version outsells the gold version by a long shot.  The price points are crucial, and Patek's position is even worse because the difference from steel to gold is not that great because of the movement and their "limited" capacity to produce those movements maintaining the perceived Patek level of quality.

Who knows, maybe Patek will develop a new movement which young folks can "really wear" and will withstand harder wear than the current lineup and show the world that they can bring the Patek level of quality to a durable, more-casual watch as you have described.   

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