Oddly enough, one of the year’s highlights is a quartz watch that costs almost US$17,000 – but it is the most accurate wristwatch ever, rated to run within a second a year and probably less in practice.

The Citizen Caliber 0100 slightly plain but the technology within is mighty impressive. Also impressive is the thought and effort put into developing the movement; that is extremely Japanese. It feels slightly anachronistic given the alternatives that can sync with GPS or radio waves and keep just as good time, but it is still mighty impressive.

The top of the line model is in 18k white gold, explaining the price tag, but fortunately there’s a titanium model with the same movement for half the price.

The Citizen Caliber 0100

The 0100S movement

Sporty-ish and value

For almost exactly the same price, the Bulgari Octo Finissimo Chronograph scores high in terms of value for money. It’s an ultra-thin – really, really thin – chronograph with a second time zone function that continues Bulgari’s streak of extra-flat Octo watches. Though the design is thoroughly modern, its slimness and proportions give it a graceful air.

But at 42mm the case is verges on looking like a biscuit because it is flat and wide. And the thinness of the movement, combined with a rather small balance wheel, inevitably invite questions about its robustness.

The Octo chronograph

That is very flat

More expensive but also strong value for money is the A. Lange & Söhne Odysseus. Looks-wise, it’s a mixed bag – the watch itself is conservative and classical, typical Lange in other words, but the bracelet is ungainly.

But the fit and finish is top class, with the movement being particularly well executed; it is not merely an old movement dressed in athletic wear. Lange incorporated several tangible, technical features, like the increased beat rate and balance bridge, to increase robustness.

The “sport elegant” Lange

The L155.1 inside the Odysseus

Conceived in a similar vein is the Patek Philippe Calatrava Weekly Calendar ref. 5212A. Unusually designed for a Patek Philippe but strongly appealing nonetheless, the Calatrava Weekly Calendar is notable not so much for its intrinsic qualities – a surprisingly degree of thought was put into the relatively simple movement – but the fact that it drops some hints of where the Calatrava collection is going.

Overshadowed by the Nautilus and Aquanaut in recent years, the Calatrava is arguably more historically important, and is scheduled for a rejuvenation, according to sources close to the brand. The line-up has only 10 men’s models at the moment, a historical low, and will probably be see new additions at Baselworld 2020 that are more interesting, like how the Weekly Calendar is.

Ref. 5212A

Another watch that is notable for what it means, rather than what it is, is the new Chanel J12. It’s been cleverly redesigned and will sell in vast numbers, but more importantly, it’s powered by a movement produced by Kenissi, a joint venture between Tudor (which is owned by Rolex) and Chanel. The collaboration between these two giants in the world of luxury brands will probably spawn some interesting products in the years to come, albeit at the gradual, unhurried pace that both brands can well afford.

The expensive stuff

Vacheron Constantin clinches one of the spots for the year with the Twin Beat Perpetual Calendar, which can run in regular or standby mode; in the latter it goes for 65 days on a single wind. Sixty-five days. And in an ordinarily sized watch that’s 42mm by 12.3mm.

It’s an answer to a question no one asked, but it is also clever, inventive and practical in slightly irrational way. Design wise, the dial is a bit of a mishmash and slightly reminiscent of the ultra-complicated Japanese hifi sets of the 1980s. But still, sixty-five days – brilliant.

Brilliant

Another winner in the genre is the Audemars Piguet Royal Oak Perpetual Calendar Ultra-Thin. It’s not as ingenious as the Twin Beat, because it essentially takes an existing idea to the extreme, mainly by cleverly rethinking of the calendar mechanism. But the result is a beautifully proportioned watch that is almost unreal in its thinness.

The Breguet Classique Tourbillon Extra-Plat Squelette 5395, on the other hand, was a surprise in terms of movement decoration. The movement is derived from an existing calibre, but the finishing is done to an impressive degree, one that is rarely seen in mainstream or establishment brands today.

And because it is a skeleton movement, there is so of it that it almost feels like Breguet was trying to demonstrate its prowess by putting in as many hand-finished inward angles in the bridge bevelling as possible.

Lovely details inside the Breguet

The independents

By far the most complicated watch unveiled by an independent watchmaker in 2019, the F.P. Journe Astronomic Souveraine is essentially a wristwatch-sized version of a pocket watch Mr Journe built in the 1980s.

Double-faced and also boasting a minute repeater and tourbillon, the Astronomic Souveraine is primarily about its calendar and astrological functions, which include sidereal time and the equation of time. As Oscar Wilde wrote, “We are all in the gutter, but some of us are looking at the stars.”

The prototype of the Astronomic Souveraine donated to Only Watch

But all of that means the watch is large – 44mm by 13.75mm – so much so it’s the biggest F.P. Journe wristwatch to date. That in turn means the repeater chimes, already gentle in sound due to F.P. Journe’s unusual flat gongs, are slightly muffled.

Taking the opposite tack from F.P. Journe is Greubel Forsey, which debuted the Hand Made 1. According to Greubel Forsey, the watch is “95%” made by hand or using hand-operated tools, which is why it requires some 6,000 hours to finish. That incredible number is due to the fact that, according to Greubel Forsey, the Hand Made 1 is essentially produced just like a prototype – mainly by hand – but to the standards of serially-produced Greubel Forsey watches.

While the number (and price) can be debated, the watch is remarkable in its detail and quality. In fact, certain details appear to be executed to a higher level than standard Greubel Forsey movements, which are already amongst the best on the market. And the Hand Made 1 is also more discreet in size and style than the typical Greubel Forsey watch.

The Hand Made 1

Lovely, lovely finishing

At a different price point is the Moritz Grossmann Hamatic. Elaborate and intricate, the movement is inspired by hammer-winding pocket watches, and is probably the most fantastic self-winding calibre in recent years. And like all other Moritz Grossmann movements, the decoration is done strikingly well.

But the Hamatic, and other Moritz Grossmann watches, are hindered by the company’s confused strategy – exhibit one is the Trump-Kim commemorative watch – and uncertain future.

A modern hammer automatic

Last is the Genus GNS 1, which has an extraordinarily interesting minute display, essentially a mechanical snake that travels on a figure-of-8 track.

Conceived by a watchmaker who spent most of his career working for other brands, the GNS 1 manages to be novel and creative, which is no mean feat in today’s highly saturated market. But its retail price of almost US$300,000 verges on fantasy.  Now priced at just under US$150,000, or half what the initial retail was, the GNS 1 is a fairly reasonable proposition.

The GNS 1

31 million important reasons

And then of course there is the Patek Philippe Grandmaster Chime “Only Watch” ref. 6300A in stainless steel, just because it sold for 31 million Swiss francs.

It’s notably for being the most expensive watch ever, and more broadly, swinging the pendulum back towards modern grand complications as the most valuable timepieces, as opposed to vintage (and mostly sports) watches.

Most contemporary complicated watches have suffered from poor resale value for the last couple of years, and it looks like things might be turning around for the best of them.

Update December 31, 2019: Genus GNS 1 retail price updated.

One of the iconic Swatch watches from its 1980s heyday was the Jelly Fish (ref. GZ010), which was unveiled in 1983, the same year Swatch itself was launched.

A quartz movement entirely exposed in a clear plastic case – accented with brightly coloured hands – the Jelly Fish was a bestseller that encapsulated what Swatch was all about: no-frills but fun watchmaking. The Jelly Fish remained in production, in one form or another – there was even a COSC-certified chronometer limited edition (GK124) in 1990 – for over two decades.

Now the spirit of the Jelly Fish returns as the Big Bold Jelly, essentially the same idea but in a larger watch case.

The Big Bold Jelly features a quartz movement inside a Big Bold case, just like the recent limited editions created in collaboration with fashion label A Bathing Ape (BAPE). The case is a large 47mm in diameter, with the crown unusually positioned at two o’clock.

But just as with the original Jelly Fish, the case is clear plastic, while the band is translucent silicone. And the hands are rendered in bright colours – red, yellow and blue – with a bit more colour provided by the gilded wheels within the movement.

Key facts and price

Big Bold Jelly
Ref. SO27E100

Diameter: 47mm
Height: 11.75mm
Material: Clear plastic
Water resistance: 30m

Movement: Quartz
Functions: Hours, minutes, and seconds

Strap: Silicone with aluminium pin buckle

Availability: At Swatch stores
Price: US$110

For more information, visit Swatch.com.

Breguet is often at its best when it does traditionally styled watches with a twist, something exemplified by the Classique 5175 limited edition made for its Tokyo boutique in 2017. The design was classical, but the dial was blue enamel, instead of the usual white (or occasionally, black). This year Breguet revived the same look – albeit with a date window – for the new Classique 5177, once again in blue enamel.

A longstanding model in the catalogue, the Classique 5177 was launched in 2006, but in more traditional livery – white enamel, or guilloche in either basketweave or hobnail. The latest iteration, however, is the most striking of the lot, managing to be both traditional and different.

Formal dress

At 38mm by 8.8mm, the case is perfectly proportioned as a modern dress watch; not too big and not too small. Like all Breguet watches it has long, narrow lugs, which give it a slightly larger footprint than its dimensions imply.

On the wrist the watch sits graceful and flat, proportions that give it a look of proper formality, especially when combined with its restrained design.

The profile of the traditional Breguet watch case, with a fluted case band and soldered lugs

All the details of the new 5177 are old school, inspired by 19th century Breguet pocket watches. The obvious ones are the Breguet-style numerals and hands, while the less obvious, and more charming, elements include the star-shaped minute markers and the Breguet “secret” signature above six o’clock.

Only faintly visible, the small “secret signature” was devised by Abraham-Louis Breguet as a means of combating counterfeits, which were numerous at the time because of Breguet’s immense success. Now the “secret” signature is lightly etched by laser on modern Breguet watches, and found on both enamel and guilloche dials.

The hands are the usual pomme hands found on Breguet watches since time immemorial, with an especially long counterweight on the opposite end of the seconds hand, giving it a more elegant air. Up close the hands are flat and highly polished; the finish of the hands is sufficient for such a watch, and on par with its peers. Thicker, rounded hands, however, would have really taken it to the next level, but such hands have to be hand made, and are today only found on watches made by a handful of independent watchmakers like Moritz Grossmann.

The “secret” signature is faintly visible just below the hands

And the historical inspiration: the dial on Breguet no. 9, a perpetuelle pocket watch completed in 1791

Nothing about the design is surprising – it is quintessential Breguet, which is a good thing – but the colour scheme is unconventional and appealing. Instead of the common enamel colours, the dial is dark blue, with the markings done in granular, powdered silver paint, matched with rhodium-plated hands, creating a clean, serene look.

Some of that serenity is interrupted by the date window. In its favour, the date disc is the same colour as the dial, with date numerals that are identical in colour to the hour markers, and even in similar typography. As a result, it is not as prominent as the date on other versions of the 5177, but it still gets in the way of the dial aesthetic.

Grand feu enamel

Up close the vitreous enamel dial is smooth, glossy and consistent in colour, with few of the imperfections found on enamel dials. Its quality is illustrated by how the hands reflect perfectly on the dial surface.

But Breguet, along with its sister brands Blancpain and Jaquet Droz, has the advantage of a modern technique for producing enamel dials. The enamel is applied on a ceramic disc with metal backing (as compared to the traditional method of enamel on metal), which reduces defects, like warping for instance, when the enamel is fired in an oven.

Like many of the dials used by the high-end brands of the Swatch Group, this enamel dial is probably produced by Rubattel et Weyermann, a dial maker in La Chaux-de-Fonds that the Swatch Group acquired in 2002.

The movement

Inside the Classique 5177 is the cal. 777Q, which is the same movement found in the model since it was first launched. Despite being a relatively straightforward automatic calibre, it is attractively constructed and finished – done well enough, in fact, that is is one of the better movements in its segment.

The cal. 777Q is notable for being the first Breguet movement to feature silicon components, alongside the cal. 591A unveiled the same year. Both movements were launched in 2006, inside the Classique 5177 and Classique 5197 respectively.

But while the cal. 591A was derived from the decades-old Lemania 8810 (itself based on the Longines 990 of 1977), the cal. 777Q was a newly developed movement, a fact that is obvious in its more elaborate construction as well as longer power reserve of 55 hours (compared to 38 hours for the cal. 591A).

At a distance the cal. 777Q looks like many other Breguet movements, with the view dominated by a full rotor made of 22k gold decorated with guilloche. But up close it reveals several appealingly details, including bridges shaped to emphasise bevelled edges as well as two elongated springs for the winding mechanism.

The rotor is white gold to match the case

All of the engraved markings on the bridges are gilded as is typical for Breguet

The springs for the winding mechanism, with the single barrel visible below: one is a winding click spring for the barrel ratchet wheel, while the other engages the crown winding wheel

One of the most attractive details are the two inward angles found on the going train bridge, right next to the balance wheel, which reveal the degree of hand finishing on the movement.

The movement also features a free-sprung balance wheel with four regulating weights

Like many other current Breguet movements – including those in top-of-the-line models like the new 5395 skeleton tourbillon – the cal. 777Q has a silicon escapement. The escape wheel and pallet fork are in silicon, although the pallet jewels are traditional rubies.

While the silicon parts no doubt confer performance advantages on the movement, primarily in terms of greater efficiency due to the light weight and negligible friction, they feel a bit too high tech compared to the rest of the movement, which is still quite traditional.

Concluding thoughts

The Classique 5177 is a beautiful in both finish and design, possessed of the quintessential Breguet style, but being slightly more contemporary because of its unusual blue enamel dial. Even though the date window does look out of place, and I do wish it wasn’t there, it doesn’t detract from the quality of the watch.

And for what it costs, just under US$24,000, the 5177 is competitively priced against the competition, essentially because it has higher specs for the same price. Comparable watches by Vacheron Constantin, for instance, cost about the same, but do not have an enamel dial. In short, the Classique 5177 is one of the most compelling buys in its class.

Key facts and price

Breguet Classique 5177 in blue enamel
Ref. 5177BB/2Y/9V6

Diameter: 38 mm
Height: 8.8 mm
Material: 18k white gold
Water resistance: 30 m

Movement: 777Q
Functions: Hours, minutes, seconds, and date
Winding: Automatic
Frequency: 28,800 beats per hour (4 Hz)
Power reserve: 55 hours

Strap: Crocodile with 18k gold pin buckle

Availability: At Breguet boutiques and authorised retailers
Price: US$23,700

For more information, visit Breguet.com.

Correction January 23, 2020: The cal. 777Q runs at 4 Hz, and not 3 Hz as stated in an earlier version of the article.

Before the monumental Grand Complication was launched in 2013 – essentially a wristwatch remake of a pocket watch sized like a pocket watch – the most complicated A. Lange & Söhne was the Tourbograph. Launched in 2005, it combined a split-seconds chronograph with a tourbillon regulator as well as a chain and fusee.

A limited edition of 51 watches conceived as a tribute to the Günter Blümlein (1943-2001), revered for having reestablished A. Lange & Söhne after the fall of the Berlin Wall, the Tourbograph was powered by the L903.0 movement, made up of 465 parts, excluding the tiny chain. Cased in platinum, it was the original Lange uber-complication; a later edition of 50 pieces had a honey gold case, followed by an even more complex version with a perpetual calendar.

Same but different

Level up

But Lange went one better and made a singular example of the ultimate Tourbograph, which was the most expensive Lange at the time.

This Tourbograph was a unique piece set with 202 diamonds on the case – including one brilliant-cut diamond on the crown – and 175 on the bracelet, for a total of 377 diamonds weighing 40.6 carats. Diamonds aside, it is also unique as the only Tourbograph known that’s fitted to a matching platinum bracelet.

Unveiled in 2009, it was made for Dubail, destined for its flagship store – which opened just the year before – on the Place Vendome, the posh square in Paris that is home to the Hotel Ritz and grand French jewellers like Cartier and Boucheron.

The Paris retailer has long had a good relationship with the German watchmaker. In fact, the Lange boutique in Paris – opened in 2013 as the brand’s second boutique in Europe – is owned and operated by Dubail.

The crown is topped with a brilliant-cut diamond cabochon

Priced at €1.2 million, or about US$1.7 million at the time, the unique Tourbograph was eventually sold and disappeared into one of the world’s most important Lange collections. But it emerged recently for a moment when the owner was in Singapore.

In good company

In the metal the watch is big, heavy and sparkly, but also boasts a subtle detail that Lange fans would appreciate – the markings and numerals on the dial are dark blue, in the same colour as the blued steel hands. This feature is unique, as the standard version of the Tourbograph has plainer, black markings and numerals.

Next to the standard Tourbograph with black numerals

After its brief excursion outside, the gem-set Tourbograph returned home, where it will remain for a long time to come.

Update December 26, 2019: Additional photos included.

I rarely write “listicles” but the holidays are always a good excuse for one: a run through of the year’s wants. It’s a wish list of watches I desire, and in a handful of instance bought, and not about the most significant or notable watches (which will be published just before the year’s end).

Surprisingly the list is a pretty short one, and heavier on affordable watches than top of the line ones. That’s perhaps reflective of both the state of the industry – often saturated and occasionally unimaginative – and the fact that I’ve seen quite a lot. That being said, sometimes it’s the simple and affordable that surprises, like the Tudor P01, or something from an expected corner, like the Chanel Monsieur Edition Noire.

High hopes

Even for a price-is-no-object list there are barely any must-haves. The list of candidates was long, but most were crossed out for one reason or another. That also in part reflects the fact that the more expensive a watch is, the higher the standards it should be held to.

The Vacheron Constantin Twin Beat Perpetual Calendar, for instance, is exceptionally interesting and smartly conceived, in fact, it’s one of the year’s best watch in terms of mechanics, but the design is a bit of a let down.

Even in a more affordable tier of complicated watches, the wants come with caveats. The Hermes L’Heure de la Lune is unconventional and poetic, typically Hermes in style. Though its face is elegant, the case profile is less so; it is a bit thick, which is inevitable given the planetary moon phase, but thick nonetheless.

Priced quite similarly to the Hermes is the Moritz Grossmann Hamatic – unquestionably the most impressive and interesting self-winding movement of recent years. Not only is the movement construction novel, the finishing is also top class. But it is hindered by the brand’s uncertain future; though Moritz Grossmann has been amply funded by government grants, the brand’s confused strategy in positioning and products leaves its long term viability questionable.

The Hamatic with “hammer” winding

The Hamatic in detail

The one that does make the list isn’t a complicated but is priced like one: the Rolex Day-Date “Rainbow”. The most appealing version is the least “bling”, sans diamonds on the bezel and bracelet, meaning it just has diamonds on the dial and coloured sapphire hour markers. It’s as subtle as a rainbow gem-set watch for men gets.

The easy buys

At the affordable end of the spectrum, the choices weren’t tough. Tudor takes top place with two watches, the Black Bay P01 and Black Bay Chrono Dark, which are both tremendous value for money. In years past Seiko would inevitably feature here, but with its increasing prices and proliferating limited editions, its watches are less compelling than before.

The P01 is a bit over the top, too chunky and long to be worn easily, but it is something interesting and unusual, even peculiar, in a good way. Importantly, it is backed up by historical legitimacy, as the watch is based on a prototype that never entered production).

On the other hand, the Black Bay Chrono Dark is easy to wear, and conventional in both design and colour. Powered by a high-spec chronograph movement supplied by Breitling, it just offers simple, solid value – the retail is a bit over US$5000 – that is unmatched by any other maker in the same price segment.

Even more affordable is the G-Shock “Full Titanium”. It’s essentially a remake of the original 1983 G-Shock, but with the case and bracelet in black-coated titanium (another version features an engraved, camouflage pattern). The idea in itself is compelling, and the watch is even more compelling in the metal.

But it is let down by a slightly high price – retail is US$1,550 – and the fact that Casio has been relentlessly milking the high-end, “Full Metal” G-Shock, with almost a dozen variants launched since the first, gold-plated model last year, including a whopper in 18k yellow gold that is both preposterous and absolutely cool.

And it’s for that reason that the Panerai Radiomir 8 Days PAM 992 doesn’t make the list. Although it’s relatively well priced, and has the quintessential, old school Panerai look, the brand has done so many limited editions in sum that it substantially erodes the appeal of any single model.

The last of the affordable watches is the MIH Gaïa Watch. Created to raise funds for the Musée International d’Horlogerie (MIH), a timepiece museum in La Chaux-de-Fonds, the Gaïa Watch is in some ways the successor to the better-known MIH Watch of 2005 that was created for the same purpose.

The Gaïa Watch

While the first MIH timepiece was brilliantly conceived – centred on a simple but functional annual calendar devised by Ludwig Oechslin – it was too stark in its minimalism. The new Gaïa Watch is a little bit more finished – in particular, the frame-like lugs have polished, bevelled edges – although it lacks anything in terms of complication, being powered by a straightforward Sellita movement.

In the case of the Gaia it was both wishing for the watch, and also wishing the crowdfunded project would get off the ground. Just last week the MIH announced it had received enough deposits to get going, so the watch will be produced as planned.

Off the beaten path

The year also threw up two unexpected watches from establishment brands; one might even be mislabelled a fashion brand. The first is the Patek Philippe Calatrava Weekly Calendar ref. 5212A, a watch that is quirky in a manner not often seen at the Geneva brand. It features a calendar arranged concentrically around the dial, with the calendar indications being reproductions of a designer’s handwriting.

At the same time, the movement boasts some notable technical improvements, including patented teeth profiles for the calendar wheels, making it a compelling package, albeit one that’s slightly expensive for a steel calendar watch. But going by what insiders are whispering, the Weekly Calendar is merely the opening salvo in a gradual revamp of the entire Calatrava line, which is probably going to get a lot more interesting.

The Patek Philippe Calatrava Weekly Calendar ref. 5212A

And the other is the Chanel Monsieur Édition Noire, a sleek, monochromatic iteration on the wristwatch Romain Gauthier helped conceive. Dressed in matte black ceramic, it’s a stylish, pared back Romain Gauthier of sorts.

Though larger than the gold version of the same, the Edition Noire is slim and discreet on the wrist, being almost all black. It’s almost all black because the case middle is black ceramic, but the bezel and case back are steel; the screws in the back run through the case middle and screw into the bezel. Consequently, the bezel is not quite seamless, it is made up of a black ceramic insert framed by a steel border.

Only Watch

And although the offerings at Only Watch are all one-offs made for charity, they’re worth a mention. There were a couple of standouts at Only Watch, although only a few within reasonable means, at least in terms of the presale estimate.

One was the Akrivia Chronometre Contemporain with a hammered, enamelled dial, because it is more elaborate, richer version of a watch that is normally handsome but a bit plain. But it sold far, far over the estimate, making it a non-contender.

The hammered, enamelled dial of the Akrivia

The other was the Konstantin Chaykin Joker Selfie, a clever, thoughtful evolution of a whimsical watch. Though it retains the silly face that characterises the Joker, this version incorporates many tweaks and features – including a “secret” function  and a movement derived from an observatory chronometer calibre – that illustrate how far Konstantin went in building something unique for a good cause. It sold for 70,000 francs, which is still within the grasp of reason.

The Joker Selfie

The last was one that went under the radar, and sold only a bit above its retail price: the Singer Reimagined Track 1. It’s equipped with a movement that is little understood and under-appreciated, the innovative AgenGraphe chronograph movement developed by Jean-Marc Wiederrecht and his team at Agenhor. And the Only Watch version has a black-coated, Damascus-patterned steel case, giving it an unusual nuance and texture.

And…

I’m on the fence about the A. Lange & Söhne Odysseus. Quality and finishing is excellent, as one expects from Lange, but the styling and execution of the bracelet falls short; the bracelet is too wide where it meets the case, and the ratcheting clasp is too bulky.

The Odysseus

But in the realm of sport-luxury watches, the Odysseus is arguably the best value when measured by quality to price. So I’m not sure if I want one, but really wouldn’t turn one down.

François-Henry Bennahmias is one of the most successful chief executives in Swiss watchmaking: since taking the top job at Audemars Piguet in 2012, revenues at the watchmaker have more than doubled, to well over a billion Swiss francs.

He took some flak earlier this year with the high profile launch of an entirely new line, the Code 11.59, which was widely panned at the time. But Mr Bennahmias appears to have been partially vindicated after the unique Code 11.59 skeleton tourbillon (which I was surprisingly drawn to) sold for a million francs – more than four times its presale high estimate.

But Mr Bennahmias does not seem to be the sort to look back reflectively, he is forging ahead full speed with rolling out new iterations of the Code 11.59, while also working on “huge” and “very cool” collaboration that will be announced in mid 2020.

During a recent visit to Singapore a month ago, Mr Bennahmias discussed the Code 11.59, while dropping a few hints about an upcoming vintage remake, as well as the upcoming partnership.

The interview was edited for clarity and length.

I really like what you have done recently with the Royal Oak Perpetual Calendar Skeleton in black ceramic. At the same time, I hear that there are some updates and extensions planned for the Code 11.59 in 2020. Can you talk anything about that?

No. [With a smile]

Can you say anything about the Code 11.59 for Only Watch, which is a two-tone skeleton of sorts? I saw the watch in Geneva; two-tone doesn’t always work but this one works very well.

First of all, we are still in launch mode [for the Code 11.59]. Now we have a clear vision of where we want to bring the line in the next three to five years.

We have new mechanisms and materials. It’s kind of cool to see the double materials mixed together [in the Only Watch piece]; it’s a new type of “bi-colour” and gives the watch a cool new feel. The Only Watch is just the beginning.

So basically bi-colour is part of the vision for the line.

Yes, and obviously I’ve already seen the prototypes. There are great things to come.

The Code 11.59 for Only Watch featured a two-tone case, and more unusually, a two-tone, skeletonised movement

Now you have the Royal Oak and the Code 11.59. For many of your competitors, a favourite theme now is the historical remake or reissue. Does AP plan to do anything there? You have a great archive, and a great museum.

We’ll see. [With a smile]

We’re going to open [the new] museum in April. There will be a watch created for the opening of the museum. That watch might look more like yesterday, rather than tomorrow.

So that will be just before SIHH next year.

Yes, the museum will be officially open then. We are very pleased with how it turned out; the watchmakers already working in the museum.

You mean the complications department?

Right. And they love it there. It’s a beautiful piece of architecture.

A rendering of the spiral-shaped Audemars Piguet Museum designed by Bjarke Ingels Group (BIG). Image – Audemars Piguet

Besides the museum and the hotel, you also built a new wing to produce the new movements for Code 11.59 automatic and chronograph. Do you plan to roll out these calibres in your other lines?

We’re working on it actually. We’ve never been so busy working on new mechanisms. We have more than nine new calibres in the pipeline.

And the eventual goal is to use in-house movement in all the model lines?

Yes, except if quartz remains [in the line-up]. As far as possible [with mechanical], yes.

How long do you think it will take for you to go entirely in-house for mechanical?

It really depends. Don’t forget, we were at 40,000 watches last year. We’re going to need to increase it for next year, because we’re short [in supply] everywhere. Stores have no inventory; [the shortage] got to a point where it’s too much.

We know that our capacity will not be able to bring us to 55,000 or 60,000 anytime soon. We will need seven years before being able to reach those numbers.

The next big threshold is 50,000. And it will still take us years to get there. If we assess what’s going on, the demand [for our watches] is really close to 46,000, 47,000 pieces. So the 50,000 mark is a no brainer, but we won’t be able to do it overnight.

So what you’re saying is that your goal is to have AP watches be desirable, but not impossible to get?

Not impossible to get, and you know what, we don’t play that game on purpose. We’ve increased our production; in the year 2000, we were at 16,000 watches.

We want to remain very exclusive, but also much more inclusive, in a sense that we do not want to tell customers, “See you in seven years”. We want to bring people to the brand, but they have to wait a little bit.

Amongst the initiatives rolled out by Mr Bennahmias is AP House, a series of boutiques around the world that are built to resemble homes rather than stores, and all located on the upper floors of buildings, instead of the traditional ground floor. Photo – Audemars Piguet

Pictured here is the most recent AP House in London, located on New Bond Street. Photo – Audemars Piguet

One of the most desirable watches is the Extra Thin Royal Oak. What else do you think a watch enthusiast should be looking at besides a steel sports watch and a ceramic perpetual? What do you think should be the next hot thing?

First of all, I do not like to put people in boxes. But I can tell you something: think about all the people who bought the [Royal Oak “Jumbo] 5402 in 1972. Let’s say for argument’s sake that these people now have the choice to do it all over again, knowing what’s going on now.

How many would say, “I don’t like the watch” or “That watch will never work”? So let’s see what’s going to happen with Code.

It’s very common to see people coming back to Audemars Piguet after buying their first watch, so it’s rarely a one-off purchase. Most of the time, it’s two or three watches; it depends on your emotion and what you like to see in your collection.

You mentioned Code and I realized that, increasingly, that Code 11.59s I see on both customers and AP employees have straps in unusual, bright colours, and not the black or blue straps in the catalogue. Is this part of the plan?

Sure, and funny enough, a year and a half ago, when we saw the white dial [Code 11.59 automatic], we thought it would be the watch that would sell the least. Now it’s our number-one bestseller, but it became more of a bestseller when we put bright, lighter-coloured straps on it.

When you have it in red like this, many more people love the watch. It makes it less ostentatious than with black alligator, and it’s a bit cooler.

Now the Code 11.59 has more exciting colours for the straps, but the cases are still only in gold, while your other lines use many other materials. Beyond two-tone gold combinations, do you plan to do Code in other materials?

We’ll see. [Big smile]

Okay, that’s a good hint.

The number one hint? We are going to play with a lot of bi-coloured materials.

The two-tone, red and white gold case of the Code 11.59 made for Only Watch

So less classical and a bit more modern. And, going forward, the focus is basically on the Royal Oak and Code, these will be the two…

And Millenary. We just launched the Millenary Philosophique, which is a really good-looking watch. We have already had great success with it; we have started to see people buying them, so I do believe we have something there. We are now working on the Millenary 4.0; we have good things in the pipeline.

And that will include men’s complication also?

No, Millenary is going to remain a ladies line.

You used to do some jewellery, like Royal Oak jewellery for ladies. Is that still part of the offering?

No, we don’t do it anymore, but it doesn’t mean that we will not come back to that field at some point.

We have a lot of things in the pipeline. And one other thing I’m going to tease you with.

In June next year, in New York, we will announce a huge partnership – huge – with a brand. And people will understand why [New York]. And people will say, “How in the world did they pull that off?” We are going to surprise the world in a very, very cool way.

I look forward to June.

And the story behind it will be a beautiful story to tell.

Because on paper, it should have never happened. Never.

But because of me getting to know someone from something completely different. And then becoming friends with the guy, who opened the door that let us get the deal done.

So I’ll hear from you in seven months?

Before that. We’ll be prepping.

Maybe I’ll speak to you at your event in April and you can tell me more.

Nope, I won’t. [Smiles]

The often quirky or abstract equestrian themes Hermès applies to its watches recently received an unusual twist: its newest pair of timepieces feature dials decorated in ikat, a traditional dyeing and weaving technique usually associated with Indonesian textiles.

Characterised by individually dyed yarns and slightly fuzzy motifs, ikat has been given a touch of gold – literally – in the Slim d’Hermès Cheval Ikat.

Combining the traditional art with modern technology, the dial is decorated with tiny threads, each the third the width of a human hair – some 1,165 of them in total. Each thread is secured on the dial at two points, creating a network of linear, perpendicular threads crisscrossing the dial that form a prancing horse.

The ends of each thread sit in a laser-cut divot on the dial that’s been filled with a drop of 24k gold, which secures the thread while giving the dial a metallic glint.

Offered in two variants – in white or rose gold with dark or light dials respectively – the Cheval Ikat is powered by the H1950, an extra-thin calibre with a micro-rotor made by Vaucher, a movement specialist part owned by Hermes that is probably best known for supplying movements to Richard Mille.

Key facts and price

Slim d’Hermès Cheval Ikat

Diameter: 39.5mm
Material: 18k white or rose gold
Water-resistance: 30m

Movement: H1950
Functions: Hours and minutes
Winding: Automatic
Frequency: 21,600 beats per hour (3Hz)
Power reserve: 42 hours

Strap: Alligator

Limited edition: 36 pieces in each colour
Availability: Only at Hermès boutiques
Price: US$35,100, or 45,400 Singapore dollars

For more information, visit Hermes.com.

The label “independent watchmaking” does not come from watchmakers themselves. Rather, it is an attempt by collectors, and also journalists, to distinguish smaller watch manufacturers from larger luxury companies.

The phrase usually refers to brands or makers that share certain qualities: being niche as opposed to mainstream; having highly creative products made in small quantities; often founded by watchmakers with high horological competence, who are also rather non-commercial, while possessing the idealistic philosophy of an artist.

From this, the important question arises for the watch collector – are resulting timepieces fundamentally more valuable, particularly when compared to watches from big brands that are produced by the thousands and boosted by heavy marketing?

That can only be answered by the collector. The watchmaker, on the other hand, has to balance the pros and cons of being an independent.

Marco Lang in his workshop, located within his home. Photo – Marco Lang

Going independent

Starting up an independent watch brand is quite different from building a more conventional watch company. A watchmaker probably starts with a good idea and from that, builds a very unusual watch. He would like the world to know about his idea, so scrapes together all his savings – maybe even he savings of friends and family – and then exhibits his creation at a fair.

The more business-minded watchmakers might think of market studies or analyse the competition. But sometimes a watch might be built on a whole new concept, one that is much more exciting than a traditional, mainstream timepiece – so there is no comparison. But when something is so avant-garde, the risk in failing to build a successful brand is much higher.

Fortunately, there are many interesting concepts from independent that have found commercial success. After success is found, however, it is up to the founder to remain true to his philosophy.

Creatively, an independent is free to do as he pleases. He is an idealist, so convinced of his idea that he definitely wants to execute it.

A product engineer in a larger company has to convince many people in different departments, from sales to manufacturing, that something is worth pursuing. I have also experienced that myself.

In order to get it done, sometimes the product is a compromise, making it only half as much fun. In contrast, the idealist takes the liberty of being a bit unreasonable.

The business of watchmaking

But that is the nature of things: when a watchmaker sits at the bench and realises his ideas, he has less time to communicate, both with customers and media. This is always a balancing act and a challenge. The financially successful independents have mastered this, but they usually have able watchmakers in the workshop to keep things going while they are doing publicity or marketing.

But while I can say independent watchmakers are more creative and more adventurous in our ideas, I can’t claim that we are better watchmakers. The decision to strike out on your own by starting your own company does not have anything to do with the quality of one’s work.

I have met many great watchmakers who work for established brands and are extremely good at their respective specialties. They are satisfied with what they are doing and would not take the risk of setting up shop on their own.

Also, I have great respect for the watchmakers who are busy with after-sales service and restoration. They tend to have very diverse skills and interests, while gaining the opportunity to see a wide variety of complications and movements.

Doing the math

Financially, being an independent watchmaker is the opposite of fun. Of course, it is not at all bad to be independent of investors, at least initially.

But usually a watchmaker’s own money is just enough for a prototype, and many times it is necessary to develop movements and communicate his brand philosophy, which requires investment.

When I founded Lang & Heyne with Mirko Heyne and Lothar Zieger, we each contributed €40,000. It was all gone after a year, on the very day we drove home from our first exhibition. The following weeks were very difficult weeks.

Fortunately, collectors and dealers made generous down payments on their orders, so my dream managed to come true.

A variety of lathes in Marco’s workshop. Photo – Marco Lang

Evolving into a brand

But when does one stop being an independent? That is a more difficult question.

Is it when an investor sets the tone and determines the direction of the company? If that is the case, then I stopped being an independent artist in 2013.

Or is it only when the company reaches a certain size? A few decades ago, Franck Muller was still sitting at a workbench in the AHCI booth at the Basel fair. Today, the Franck Muller brand would probably not be considered as an independent watchmaker.

As for myself, I can only say that I tried, together with my investor, to develop my artistic concepts in an economical and viable manner. Although we both wanted the best for Lang & Heyne, there were eventually disagreements, so I bore the consequences and left the brand.

Now I have to ask myself, am I an independent watchmaker?

In recent years, I had to struggle a bit with that idea at Lang & Heyne. We tried to optimise the manufacturing processes. as if we were producing the quantities of an industrial company. At some point, watchmakers became administrators; I was more concerned with spreadsheets than watchmaking. That had little to do with the emotion of independent watchmaking.

The time frame from an idea to the finished watch became longer and more complicated, so I needed liberation, and a return to my roots as a watchmaker.

Now I’m free in my thoughts, and I can concentrate on construction and practical work. The work is fun and new ideas are percolating in my head.

If I can produce eight to ten watches a year, even with a small team in the future – that is enough. After all, it is important for the customer that the one watch he buys has the highest qualitative and emotional value.

The current president of the Académie Horlogère des Créateurs Indépendants (AHCI), the author was the cofounder of German independent watchmaker Lang & Heyne, and led the company until mid 2019. He recently started a new brand – Marco Lang – which you can follow on Instagram.

Originally introduced in 2011 as a round, dressy-ish watch that was distinct from most other Richard Mille watches, the RM 33 has now been revamped and looks like, well, other Richard Mille watches. The new RM 33-02 is still round, but is aggressively styled and executed in a striking combination of materials.

Just as it is with Richard Mille’s better known tonneau-shaped watches, the RM 33-02 has an angular, notched bezel, while the case is a sandwich combining carbon composite and gold held together by large, visible screws. The bezel notches at six and 12 are continued onto the integrated rubber strap, which has a fin running down its length, accentuating the sporty look.

The bezel and back are made of Carbon TPT, a carbon composite made by North Thin Ply Technology (NTPT), a Swiss materials specialist that supplies the material for all of Richard Mille’s composite cases.

Layers of carbon fibre within the composite give it a distinctive, striped appearance that is now found on most Richard Mille watches. In between the carbon composite is a case middle in 18k red gold.

Also in red gold are the large Arabic numerals, which sit on a pair of black-coated titanium rings mounted on the base plate of the movement – necessary because the watch has no dial.

Despite the bold styling, the RM 33-02 is a relatively compact watch, measuring just 41.7mm in diameter, and a slim 8.8mm high.

That’s thanks in part to the extra-thin RMXP1 movement inside. It’s an automatic that’s just 2.6mm high. Like most Richard Mille movements, it is produced by Vaucher, but customised for Richard Mille and given open-worked, black-coated bridges, resulting in a monochromatic, technical look.

Key facts and price

Richard Mille RM 33-02

Diameter: 41.7mm
Height: 8.8mm
Material: Carbon TPT and red gold
Water resistance: 30m

Movement: RMXP1
Functions: Hours and minutes
Winding: Automatic

Frequency: 21,600 beats per hour (3Hz)
Power reserve: 45 hours

Strap: Rubber

Limited edition: 140 pieces
Availability: Richard Mille boutiques
Price: US$145,000

For more information, visit Richardmille.com.

News last weekend that Switzerland’s competition regulator, COMCO, also widely known by its German acronym Weko, was weighing a ban on ETA movement sales to third-party brands caused a major stir in the watch industry – and a terse, lengthy response from Swatch Group, ETA’s parent and Switzerland’s biggest watchmaking conglomerate.

The move was ostensibly to allow alternatives to ETA – once Switzerland’s dominant supplier of mechanical movements – to develop. According to the Swatch Group, the ban was entirely without merit, especially given the fact that ETA was no longer the biggest supplier of movements to the industry. That title now belongs to Sellita, which supplied a million movements in 2019, compared to half the number for ETA.

Now COMCO has formalised the year-long ban in an announcement that puts in place a “temporary suspension of the supply of [ETA] mechanical movements to customers”. The ban will be in force until COMCO makes its final decision by the summer of 2020.

The ban, however, allows ETA to sell its movements to existing clients that are small- and medium-sized watch brands, defined as having less than 250 employees, which will probably be of little consolation to ETA. According to a Swatch Group spokesman quoted by Reuters, the majority of ETA’s movement sales are to companies with more than 250 employees, and as a result, ETA foresees it won’t be able to sell any movements next year.

According to the statement, the ban is founded on COMCO’s belief that if ETA was allowed to continue selling movements for one more year, it would have a negative impact on competition within the movement manufacturing industry. At the same time, brand using ETA movements would have had the ample time to diversify their movement supplies since ETA announced its decision to gradually halt movement sales to third parties over a decade ago.

COMCO director Patrick Ducrey, in a comment to Reuters, expressed scepticism that the ban would result in a movement shortage. “Is there really going to be a shortage of watch movements? I’m not sure. There’s also a grey market and brands have built inventories.”

The ban is the latest, and most drastic, development in a years-long dispute between Swatch Group and COMCO that began in 2002, when the movement maker announced it wanted to stop selling movement blanks to brands not part of Swatch Group, which owns marques like Omega, Longines and Tissot.

In an ironic twist, the ban reverses the starting positions of the two adversaries, with Swatch Group now wanting to continue the still-lucrative business of being a major movement supplier, and COMCO wanting it halted in totality.

COMCO has also published its decision in full online.

Sources: Neue Zürcher Zeitung (NZZ) and Reuters

Update December 19, 2019: Article updated to note that ETA is only allowed to sell movements to small- and medium-sized brands, which is a de facto ban on sales.

Update January 7, 2019: The decision allows ETA to sell to small- and medium-sized, but only those that are existing clients.