" Because at Patek he'd encounter the most extreme brand age phenomenon: artificial scarcity. You can't just buy a Nautilus. You have to spend years proving your loyalty first by buying your way through multiple tiers of other models, and then spend years on a waiting list. " Strange game, the only winning move is not to play. I've heard other brands do this (Ferrari?) and, of course, there are lines outside "luxury"…
Humans are status-seeking creatures, and status is expressed through signaling. If you're rich and so are the people around you, money alone ceases to be a differentiator. Ultra-luxury brands appeal to this by adding hoops that money alone can't clear: time, loyalty, relationships. The signal shifts from "I can afford this" to "I was invited to spend my money here." Lines outside Louis Vuitton are more down-market, a…
He was aiming at people like the people commenting on this thread and who read the essay.
Also to the startup/entrepreneur founder-types that are actually interested in building a business that makes a qualitative improvement in the market that it works in.
But mechanical watches are very appealing to nerd/geek types as well, purely in terms of the design and engineering of the movements and the precision of the manufacture.
Complications are absolutely pointless, but making a movement that can deliver them is very appealing.