Here we take a look at some of the watches that had an initial lackluster reception, some that recovered in sales against all odds, and others still that provoke ire in watch collectors.
Audemars Piguet’s Royal Oak
When the Audemars Piguet Royal Oak made its big and hotly-anticipated debut in 1972, it was quickly panned by critics.
So the tepid critics’ response and the shocking price meant the Royal Oak’s sales were extremely slow at the beginning; it took a full year for Audemars Piguet to unload the first 1,000 watches. But then sentiment towards the Royal Oak started to change as some well-known and respected collectors started adding the uniquely-shaped AP watch to their collection. Then sales gradually picked up and finally took off.
Today, the juggernaut AP Royal Oak is considered Audemars Piguet’s signature model and a prized piece to own, particularly among discerning collectors.
Panerai X Ferrari, Ferrari Engineered by Officine Panerai
In in the mid-2000s, Panerai was one of the hottest “new” luxury watch brands. The Italian brand had recently been relaunched by the Richemont group and was building up a fresh fan base and sales were soaring.
When the Panerai x Ferrari limited-edition watches first released in 2005, the watches pretty much immediately tanked. The collection’s average price tag was a whopping $10,000; although Panerai watches typically retailed within that range, the Panerai brand name wasn’t even listed on the watch’s dial. Similarly, the Ferrari name did little to convince Panerai fans to snap up these premium watches. In turn, many nonplussed Panerai fans balked at the high cost and dismissed the watches as inferior Panerais.
Needless to say, when the Panerai and Ferrari contract expired in 2010, neither party was eager to renew.
Rolex Reference 6324 Chronograph, the Precursor to the Daytona
So, it’s rather surprising to learn that the Daytona’s predecessor, the Rolex Reference 6324 Chronograph, had a lukewarm reception. The Rolex Ref. 6324 debuted in 1955 and largely sat on shelves as shoppers flocked, instead, to Rolex competitors who had cornered and dominated the chronograph market. The Ref. 6324 enjoyed a very limited run of roughly 500 pieces released a year until it was finally discontinued in 1961.
Now, not only has the modern Daytona evolved into one of Rolex’s most popular and prized models, but the Rolex Ref. 6324 model (also known as the “Pre-Daytona”) is prized as a rare Rolex collector’s item and with resale values starting at $20,000.
The Defy Extreme made its debut in the mid-2000s when then-Zenith CEO Thierry Nataf wanted to break Zenith out of its seemingly dated look with something fresh, bold and daring. Enter the Zenith Defy Xtreme, one of industry’s most contentious watches.
The Zenith Defy Xtreme horrified fans who felt Zenith had totally abandoned its classic aesthetics and was misguidedly chasing after a radically different clientele. The Defy Xtreme was a big sport watch and was emblazoned with Zenith logo and branding. The Defy Xtreme’s existence entirely flew in the face of Zenith’s tradition of elegantly low-key timepieces.
Shortly after the collection’s release and with Zenith sales circling the drain, Nataf was relieved of his duties as CEO.