Horolonomics

Let's get some preliminaries out of the way: I don't particularly admire or respect how Patek CEO Thierry Stern responded to criticism of Cubitus, the brand's newest release. Three pocket watches on display during the 2017 Patek Philippe Grand Exhibition in NYC. Here's what he said : “The haters are mostly people who have never had a Patek and never will, so that doesn’t bother me.” Does this remark seem filled with hubris and disrespect for potential buyers? Yes. Will it matter for Patek financially? I don't think so. Let me explain. In order to understand the financial side of watch brands, we should never forget that retail buyers are not their customers (with some rare exceptions). I know that sounds crazy, but it is 5,000% true. For a brand like Patek, the primary watch market is financially mediated. There is a third party standing between brands in Switzerland and collectors. Namely, Patek sells to authorized dealers, they don't sell to collectors.

Screenshot from a video of the Apollo 14 crew during their luner transit in space. Astronaut Mitchell smiles at the camera, his Rolex GMT Master "Pepsi" on his right wrist. The crew was "hamming it up" over shaving their beards. Question: if you're a) really into watches and you b) learn about a watch that is older than you that has travelled more than 400,000 miles through the vastness of space to the surface of the moon and back and c) discover the watch is within easy driving distance, what do you do? Answer: you get in the car, drive to the watch, and you check it out. So that's what I did. The watch in question is a Rolex GMT Master reference 1675 "Pepsi." This particular GMT Master has out-of-this world provenance. Literally. And I thank the team at RR Auctions for granting me some time to check it out, they were gracious and generous hosts. Here's the deal: on January 31, 1971, NASA astronaut CAPT Ed Mitchell, PhD USN launched