Categories
These watches are design concepts. None of these organizations has ordered one.
David Siegel, watch concierge
I produce limited editions of fine watches for companies, nonprofits, and other organizations.
I work with clients to produce limited unforgettable timepiece collections for their organizations. Independent Swiss watchmakers build each edition, and the organization can give the watches as thank-you gifts or sell them to their most treasured donors, customers, members, and others. We can also make very limited editions for auctions, special gift rewards, etc. This are not promo items, they are treasures that pass from generation to generation. This enhances the brand and brings in more money. One run of 50 watches can bring $5 million in profit to the organization, and the buyers will be thrilled.
These watches are design concepts. None of these organizations has ordered one.
We manage each project in four phases.
The client pays a nonrefundable $100,000. We talk on Zoom, get their artwork and concepts, write a brief. We spend hundreds of hours to research options, talk with watchmakers, commission renderings, put a full plan document together. Then I go in-person to present three watches at three price points in a two-hour meeting.
The client picks a concept and configures the edition. Then they sign the master production agreement. We only work with extremely reputable manufacturers who have been in business for decades.
The client pays us another $100,000 to create a special website they can use to show the concept, make a video, put all the agreement documents online, let customers configure their watches, and take 50% deposits. The deposits repay the client's $200,000 investment and book the production run.
Buyers pay their balances when their watches are ready to ship. We collect our fee, and the client keeps the remaining revenue. Then the client decides whether to order more.
The client pays a nonrefundable briefing fee of $100,000. The fee pays for all our work up to and including the presentation. We can charge less for a client who wants a simple design, but in our experience it's the fantastic designs that bring in the most money, because logo-wear looks cheap. Our goal is to create heirlooms, not promo pieces. The work in this phase takes hundreds of hours of research, negotiations, rendering, and business planning.
Rights and artwork: We collect the client's official artwork, style guides, and brand standards. The client owns the rights to every design we create for them.
Design brief: We can work on Zoom to put together the brief.
Watchmakers: We find the three or four independent Swiss watchmakers best suited to the concept, vet them, and reserve production slots.
Renderings and video: We commission photorealistic 3D renderings.
Deliverable: The client receives a bound project plan, the options, timeline, and a financial model for its executives to approve.
The TWO-hour presentation
Discovery ends in a two-hour meeting with the client's executives. We present three watches at three price points, and the client decides every parameter in the meeting. The second half of the meeting is working through the contract so it's ready to sign.
Each design comes in three versions at three prices.
About $220,000
The watchmaker decorates one of its standard watches for the client, with colored diamonds, an image on the dial, or custom hands.
About $280,000
The watchmaker adds a custom coin dial or a special treatment, such as etching. This depends on the goal of the project.
Custom, $350,000+. The watchmaker designs a unique complication made for the client, such as a game or a moving figure. This can also be a fantastically ambitious work that draws a lot of attention in the watch world and sells for closer to $1-2 million. We can also make unique pieces or pairs of watches to sell at auction to raise money - for example, one unique piece per year auctioned at the annual gala.
Main considerations for the various options:
To learn more about the options, read Considerations and Complications on this site.
These figures show how a typical project might go in round figures. At the presentation, the client will receive an exact proposal built on the watchmaker's quote.
| Per watch | 20 watches | Share of retail | |
|---|---|---|---|
| Retail revenue Deposit | $220,000 $110,000 | $4,400,000 $2,200,000 | 100.0% 50% |
| Watchmaker's price | $77,000 | $1,540,000 | 35.0% |
| Our producer fee (15%) | $33,000 | $660,000 | 15.0% |
| Discovery and website fees | $10,000 | $200,000 | 4.5% |
| Client profit | $100,000 | $2,000,000 | 45.5% |
If the client orders the other 30 watches, the edition reaches 50. The client pays each $100,000 fee only once, so the two fees spread across all 50 watches.
| Per watch | 50 watches | Share of retail | |
|---|---|---|---|
| Retail revenue Deposit | $220,000 $110,000 | $11,000,000 $5,500,000 | 100.0% 50% |
| Watchmaker's price | $77,000 | $3,850,000 | 35.0% |
| Our producer fee (15%) | $33,000 | $1,650,000 | 15.0% |
| Discovery and website fees | $4,000 | $200,000 | 1.8% |
| Client profit | $106,000 | $5,300,000 | 48.2% |
In a batch of 50 watches at $220,000 each, the client makes $5.3 million profit.
| When | What happens |
|---|---|
| Day 1 | Initial discovery fee paid |
| 3 months later | Presentation |
| 2 weeks later | Contracts signed |
| 1 month later | Presale website goes up, certain people notified |
| 1 month later | Presale closes |
| 5 months later | Final payment called |
| 6 months later | Watches begin shipping |
| 9 months later | All of the first batch is shipped out |
At any time, we can open the rest of the allocation for sale under similar terms.
Your words go here.