A few years ago, Tiffany & Co. began offering a limited edition Patek Philippe Nautilus 5711 with a dial in the jeweler’s signature robin’s-egg blue. Patek crafted 170 of them, a tribute to the number of years the brands had worked together. Tiffany’s hope was that the buzzy timepiece would help attract – and retain – high-end shoppers who weren’t already regular customers.

Yet the Blue Dial — as it became known — was never for sale in the traditional sense. Demand was so high that Tiffany executives, including Americas head Christopher Kilaniotis, realized clients would be willing to spend millions of dollars on other jewelry for the chance to buy the coveted watch, which was priced at $52,635.

Bloomberg News consumer reporter Jeannette Neumann details the fallout after salespeople at the iconic jeweler were reportedly instructed to guide wealthier patrons toward spending $2 million to $3 million with no guarantee of access to the coveted timepiece. Jeannette speaks with Tim Stenovec and Norah Mulinda on Bloomberg Businessweek Daily.

A few years ago, Tiffany &amp; Co. began offering a limited edition Patek Philippe Nautilus 5711 with a dial in the jeweler&rsquo;s signature robin&rsquo;s-egg blue. Patek crafted 170 of them, a tribute to the number of years the brands had worked together. Tiffany&rsquo;s hope was that the buzzy timepiece would help attract &ndash; and retain &ndash; high-end shoppers who weren&rsquo;t already regular customers. Yet the Blue Dial &mdash; as it became known &mdash; was never for sale in the traditional sense. Demand was so high that Tiffany executives, including Americas head Christopher Kilaniotis, realized clients would be willing to spend millions of dollars on other jewelry for the chance to buy the coveted watch, which was priced at $52,635. Bloomberg News consumer reporter Jeannette Neumann details the fallout after salespeople at the iconic jeweler were reportedly instructed to guide wealthier patrons toward spending $2 million to $3 million with no guarantee of access to the coveted timepiece. Jeannette speaks with Tim Stenovec and Norah Mulinda on Bloomberg Businessweek Daily.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

ICYMI: Tiffany Angers Rich Clients Who Wanted to Buy a Rare Patek Watch

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