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Patek Philippe: Watch Perfection - [Business Breakdowns, REPLAY]
Manage episode 493460084 series 2906026
Content provided by Colossus, Colossus | Investing, and Business Podcasts. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Colossus, Colossus | Investing, and Business Podcasts or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
This is Matt Reustle. Today we are replaying our Breakdown of Patek Philippe. You never own a Patek Philippe. You merely watch over it for the next generation. I'll say it's the best marketing campaign in history, a campaign appropriate for the world's premier watchmaker and a watchmaker worthy of a Business Breakdown.
Our guest today is John Reardon from Collectability. John has worked at Sotheby's, the auction house, and spent a decade at Patek Philippe in the early 2000s. He continues to write for Patek Philippe Magazine while he has launched Collectability, a brand dedicated to vintage and preowned Patek Philippe.
We cover what makes Patek such a special brand. There is an almost 200-year history in craftsmanship and countless patents (like that self-winding mechanism that powers all automatic watches today.) What Philippe Stern did in 1989 could be worthy of a 10-episode series, so there is much to learn from this episode. Please enjoy this breakdown of Patek Philippe.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
-----
Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @JoinColossus | @zbfuss | @ReustleMatt
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes
(00:00:00) Welcome to Business Breakdowns
(00:02:41) The main differences between Patek Philippe and Rolex
(00:06:32) An introduction to Patek Philippe’s brand
(00:08:47) The founding story of the business
(00:11:14) Henry Graves and the watches that he made for the brand
(00:16:46) The production process for making a Patek Philippe watch
(00:19:56) A look at the 1989 and its importance to the business
(00:22:08) The types of people who were interested in the brand and purchasing at auction in 1989
(00:24:41) An overview of the successful marketing campaigns of the 1990s
(00:27:26) Patek’s strategy at auctions, embracing both consignment and buying
(00:30:38) The general size and scope of the Patek Philippe secondary market
(00:32:20) The brand’s perspective of the secondary market and whether it affects the way they market new items
(00:36:47) John’s personal experience working at Patek Philippe
(00:40:36) The company’s distribution strategy
(00:43:42) Breaking down the points of sale, branded dealers versus authorized dealers
(00:44:29) The mindset behind consolidating dealers and the exclusivity it created as a byproduct
(00:46:22) How the LVMH acquisition of Tiffany has affected Patek Philippe
(00:49:18) The potential of Patek Philippe being acquired by another company
(00:53:48) Lessons learned from Patek Philippe
236 episodes
Share
Manage episode 493460084 series 2906026
Content provided by Colossus, Colossus | Investing, and Business Podcasts. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Colossus, Colossus | Investing, and Business Podcasts or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
This is Matt Reustle. Today we are replaying our Breakdown of Patek Philippe. You never own a Patek Philippe. You merely watch over it for the next generation. I'll say it's the best marketing campaign in history, a campaign appropriate for the world's premier watchmaker and a watchmaker worthy of a Business Breakdown.
Our guest today is John Reardon from Collectability. John has worked at Sotheby's, the auction house, and spent a decade at Patek Philippe in the early 2000s. He continues to write for Patek Philippe Magazine while he has launched Collectability, a brand dedicated to vintage and preowned Patek Philippe.
We cover what makes Patek such a special brand. There is an almost 200-year history in craftsmanship and countless patents (like that self-winding mechanism that powers all automatic watches today.) What Philippe Stern did in 1989 could be worthy of a 10-episode series, so there is much to learn from this episode. Please enjoy this breakdown of Patek Philippe.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
-----
Business Breakdowns is a property of Colossus, LLC. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @JoinColossus | @zbfuss | @ReustleMatt
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes
(00:00:00) Welcome to Business Breakdowns
(00:02:41) The main differences between Patek Philippe and Rolex
(00:06:32) An introduction to Patek Philippe’s brand
(00:08:47) The founding story of the business
(00:11:14) Henry Graves and the watches that he made for the brand
(00:16:46) The production process for making a Patek Philippe watch
(00:19:56) A look at the 1989 and its importance to the business
(00:22:08) The types of people who were interested in the brand and purchasing at auction in 1989
(00:24:41) An overview of the successful marketing campaigns of the 1990s
(00:27:26) Patek’s strategy at auctions, embracing both consignment and buying
(00:30:38) The general size and scope of the Patek Philippe secondary market
(00:32:20) The brand’s perspective of the secondary market and whether it affects the way they market new items
(00:36:47) John’s personal experience working at Patek Philippe
(00:40:36) The company’s distribution strategy
(00:43:42) Breaking down the points of sale, branded dealers versus authorized dealers
(00:44:29) The mindset behind consolidating dealers and the exclusivity it created as a byproduct
(00:46:22) How the LVMH acquisition of Tiffany has affected Patek Philippe
(00:49:18) The potential of Patek Philippe being acquired by another company
(00:53:48) Lessons learned from Patek Philippe
236 episodes
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Similar to Business Breakdowns
Capitalmind looks at stocks, bonds, funds and the macro to bring you their view on the Indian financial markets. We discuss all things related to investing at our focussed podcast that keeps it simple. For more, go to capitalmind.in and to invest with us, visit capitalmindwealth.com
…
continue reading
It didn’t all change in March 2020. Not really. The UK high street has been in the throes of a gradual revolution for decades. From the rise of ecommerce, to the birth of mobile, social commerce, and a growing emphasis on experience, change has been underway for a while. In fact for many, the pandemic has acted as a wake-up call. Digital transformation was no longer a ‘nice to have’ but a matter of survival. Necessity sparked innovation and customers are enjoying more flexibility and conveni ...
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continue reading
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continue reading
Best friends Joel and Matt are the co-hosts of How to Money which is all about providing the knowledge & tools that normal folks need to thrive in areas like debt payoff, DIY investing, and crucial money tricks that will provide continuous help along your journey. We believe that access to unbiased and jargon-free personal finance guidance is more necessary than ever before. When you handle your money in a purposeful, thoughtful way that works for your lifestyle, you can really start living ...
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continue reading
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