Richard Mille is the undisputed master of exploiting what economists call scarcity value.
This is the common sense idea that if you create strong demand for something that is hard to get hold of, people will pay more to get their hands on it.
The French have been doing this since Napoleonic times when they created the appellation d’origine controlee system for wine making that says wine grapes grown on one patch of dirt are three times better than grapes grown in identical dirt on the other side of a farm track.
You are legally prevented from adding to the size of the best vineyards, so wines from that dirt become ultra scarce and rocket in price.
Richard Mille will make only 75 of its RM 50-03 McLaren F1, which it describes as the world’s lightest split-seconds tourbillon chronograph.
Produced in collaboration with the famed Formula 1 constructor, the new Richard Mille calibre is a technical masterpiece offering off-the-chart mechanical performance, the company says.