I am not sure how you reached the conclusion...

Possibly, PP is catering to this crowd now.

Where, if I understand you correctly, you refer to a crowd that likes daring watches to the point of being ridiculous and thinks the thicker and larger the better.

How did you reach this conclusion or, since you did say possibly, hypothesis?

Is it because of the watch they auctioned at the monaco aucion? If I remember correctly they auctioned a unique rendition of a watch, that is pretty small, that has been in their catalogue for a few year already, but isn't that popular if I remember correctly.

Is it because of the new ref. 5104? Surely the annual production of this piece will be so low that it hardly says anything about the path that PP is going.

Maybe it is the 5960? It is daring (for PP), but not to the point that telling time is being compromised. I also don't think it falls in the category the bigger the better.

You mentioned the 3940. Now look at its successor, the 5140. They increased the watch marginally and it is still as flat as it can be. Now they probably increased it to cater for the crowd that likes bigger watches, but they did it in a way that the watch maintains PP's values. I think that is very admirable.

Regards,
Joram