i.e. that is it s luxury good. In other words, not necessary. Which means that I assume that Patek will feel (negative) repercussions if the watch market as a whole experiences a 'bursting bubble' syndrome. I would imagine that (i) quite a number of luxury aficionados (not: watch aficionados!!!!) would switch away from buying watches, (ii) those who buy Patek because it is a relatively safe investment would for sure reduce purchases, and (iii) the number of 'flippers' would be greatly reduced for the same reasons as group (ii) would reduce consumption.