In business terminology this term is used for a series of watches, which was created exclusively for the needs of a particular customer. Such customer may be a natural person, a legal entity, a closed group of individuals, or any hobby or sport club.
A private series may be designed as:
- Closed - "Private Limited Edition"
A series of this kind gives individuals an opportunity to create a so-called ancestral watch; watches that are available only to family members. These watches are a unique gift for an anniversary or other significant events. Moreover, it may also be a symbol to younger members of the family for occasions when reaching a certain stage of maturity. In this case, the watches serve as a present to celebrate adulthood, graduation, wedding, or just any opportunity that the family recognizes to be an important achievement.
For groups of individuals the “Private Edition” is a way of streamlining the production and thus reducing the costs of the final product. At the same time other customers may be completely excluded from access to the final product, or at least such access may be granted only under certain conditions.
For legal entities, on the other hand, it gives the possibility to create new business series which may be used as gifts to award employees who have demonstrated extraordinary skills (for example, saving the company from losses, contributing to a significant improvement in efficiency, or positively representing the company in the public).
Moreover, companies may use the private series as a very valuable present for their business partners or clients. The value of such gesture is significantly higher than is the case with conventional watches, purchased in common watchmaking shops. By having watches produced that are not readily available and in addition having them personalized with the name of each recipient, you indicate that your business partner or customer is of such a great value to you – a value that cannot be expressed just by way of money. Namely, the production of such watch will require your co-authorship in regard to the design.
In case of leisure and sport clubs, the private series may be used as a form of representing the club membership.