Gianluca-

This is a fascinating observation, and I would relate the discussion to how soccer is perceived in the US. Even with a successful professional league and having soccer emerge as the second most popular sport in the 15-24 year old demographic, there is still a lot of psychological resistance to the sport: it is un-American, full of faking/diving (a topic that merits a lot of discussion,) only for girls, etc., etc. Clearly the world values soccer more than the US on a relative basis. Does this make soccer an inferior sport in the US, or does it simply reflect cultural bias and a lack of understanding of its essence. That Heuer is not Rolex, is of course, not a flaw, just embedded fear I believe, of what is not that familiar. Italians are incredibly design savvy it seems--and my sense is that once a brand is anointed, be it Rolex or Ferrari or AC Milan, it shall thus always have exalted status. Not all brands can be all things to all people, and that is what makes collecting fascinating. For me, the big money brands are just that--all about money, with little left of interest for the average collector. I think that collectively, we Heuer collectors like being under the radar as Stewart points out. My sense is that in two generations, Heuers will be on a par with the other brands in terms of desirability, based on scarcity alone.