mec
48
"Limited Edition" is a Meaningless Term
Oct 13, 2013,15:07 PM
As an attorney who represents many reputable and well-known clients in the art world, I must tell you that at least in the United States the term "limited edition" is essentially meaningless. I had the unfortunate experience of representing an art collector who purchased many expensive works of a famous artist, who denominated these works as "limited editions". The artist later decided, however, to make additional prints of these so-called "limited editions", infuriating my client, who had paid a premium for what he believed would be works limited in number. A federal court ruled against my client, holding that a "limited edition" simply means an edition of works limited at the point in time in which they were created; in theory, one could produce a second limited edition of the same work the very next day.
I believe that this concept applies not just to art but to all manner of goods denominated as part of a "limited edition". While ethical manufacturers--and I will assume that Patek falls in this category--honor the spirit of the term and do not create more than the number in a particular edition, they are not legally bound to do so. In short, I wouldn't put much stock in anything that claims to be part of a "limited edition".
Comments:
view entire thread
Every Patek a limited edition ? Thoughts ?
By: akitaishi : October 13th, 2013-10:09
Is every Patek released for only a certain number of years before it is discontinued ? Is there a regular Patek that exist since it was introduced and always in production as long as there is a demand ? Suppose every Patek is only released for a couple of...
It is only a Limited Edition ...
By: small-luxury-world : October 13th, 2013-10:23
if there is a defined amount of watches from the beginning. Even when some brands increase it afterwards, but that is another story ;-) Oliver
Limited production...
By: Fricks : October 13th, 2013-11:04
... about the 5270G i cannot believe that what was mentioned here about the new dial will be a limited edition. For the simple reason that Patek never makes limited editions except for commemorations of an AD, or for some anniversary. About the advanced r...
"Limited Edition" is a Meaningless Term
By: mec : October 13th, 2013-15:07
As an attorney who represents many reputable and well-known clients in the art world, I must tell you that at least in the United States the term "limited edition" is essentially meaningless. I had the unfortunate experience of representing an art collect...
En France
By: mec : October 14th, 2013-07:34
Je pense que c'est la meme histoire, malheureusement, cher confrere (?). (Just some lawyer talk between lawyers :-) )
In the past
By: dr.kol : October 13th, 2013-23:19
Patek Philippe watches were limited production pieces. Nowadays the total output of PP is so huge that just some Grand Complications can be considered as limited production watches. Think about 5167, 5711, 5712, 5196, etc. The total production of these wa...
Patek does make
By: Time to watch : October 14th, 2013-00:04
Limited editions, however they usually won't disclose how many they have made publicly nor will they number any of their watches. Here's an example and a link from patek themselves. If you scroll down a ways you will come across some watches. all the be...
Limited Edition ......
By: tic-toc : October 14th, 2013-00:09
....... in my own interpretation, limited edition suppose to mean a small amount in a short time. But this is just so far reach now, that i also feel, this really is meaningless. Every watch company for some reason at every production every year, has at l...
which is sad...
By: akitaishi : October 14th, 2013-08:55
because the label "Limited Edition" is gradually losing its meaning. Not like it had a great deal of meaning to begin with. Through the responses, the LE tag is open to perceptions and interpretation. And watch collectors inevitably gets attracted to watc...
Destruction of the means of production
By: mec : October 14th, 2013-09:20
would be the only way to ensure that what is denominated a "limited edition" is indeed limited to the numbers made at the time of production. In the case of sculpture, for example, destruction of the casts used to make bronzes achieves this goal. The only...
