Very astute observations. I particularly enjoyed your analysis in part 3. It was well received to be reminded that Patek had to build its reputation in a fiercely competitive environment for the battle of observatory awards. The way Patek dominated chronometer competitions served to be hugely rewarding for the reputation of the company. It’s something people tend to forget today. Patek’s name was built on excellence - and an unrelenting pursuit of it. Beyond the stories and the nobility connection (which of course tremendously helped), the fact that they could proudly claim as much as they did with what they produced solidified their right to the top for decades to come. People tend to forget the power of word-of-mouth. In the late 90s and 2000s, the precursor to the explosion of interest we see with Patek today, were knowledgable enthusiasts and connoisseurs serving as living advertisements. The foundation was set. When enough big collectors tell you the same thing, or with such conviction, eventually you will turn your sights if only for a glance. I see something similar happening with FPJ today.