Watchmakers charge top dollar not just for the expensivematerials they use, but also for the stellar reputations they have built, and innovation.
LUXURY BEGINS WHERE necessity ends — when you arrive at a point where mere functionality is not enough, and you begin to seek perfection. Most things aren’t perfect, even a lot of luxury goods and services aren’t. However, it’s when they pursue perfection and strive to push boundaries beyond what’s seemingly possible, that they begin to embody what luxury is all about. From Rolex and Land Rover to the Four Seasons and Macallan, luxury is about taking that extra step. And to me, this idea of perfection is in the finer details, best exemplified by the details one can see on the face of a luxury wristwatch.
I grew up in a family surrounded by the business of watches, and a company that made dials, hands and indexes for some of the biggest brands in the world. When you see these elements with a keen eye, in isolation, you notice the finer nuances of what they bring to a timepiece, and you see how every detail informs the overall impact of a fine timekeeping instrument. It really is like a form of art, where colours and materials either complement or contradict each other, as they harmonise in different ways. What has always amazed me is that here is something that people have spent a lot of time perfecting, something I can wear every day on my wrist, and then pass it on to the next generation. There aren’t a lot of things in this world that you can spend money on and say the same thing about. That drew me into the world of watches.
It’s a big world though. Luxury could go from under 1 lakh to 2 crore, and higher. While brands such as Rolex start at about 3 lakh, there are others such as Vacheron Constantin that start at about 15-16 lakh. Of course, this depends on the materials used, features offered, and whether or not the timepieces have high complications. But, more than anything else, it depends on where the brands themselves stand in the world of timekeeping, and on their stories of watchmaking.
Esta historia es de la edición October 21, 2018 de Business Today.
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