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The Swatch Group

Largest Swiss watch employer (~17,000 staff). 18 brands from Breguet/Blancpain at the top to Swatch at entry. ETA SA + Nivarox-FAR. Hayek family controls.

Sotheby’s to Sell A. Lange & Söhne 1815 Service Watch in Steel [Withdrawn] SJX Watches
A. Lange & Sohne Nov 18, 2019

Sotheby’s to Sell A. Lange & Söhne 1815 Service Watch in Steel [Withdrawn]

Long before the Odysseus “sport-elegant” watch, A. Lange & Söhne already had a serially produced timepiece in stainless steel. In the late 1990s, just as the brand was rapidly gaining traction as the preeminent German watchmaker – remember that it had only unveiled its wristwatch collection in 1994 – the company rolled out the fabled 1815 service watch. (NB: Sotheby’s has withdrawn the watch from the sale.) The rationale behind the watch was simple: a loaner for clients who had sent in their Lange wristwatch for servicing. Staying true to the exceptionally high standards the start-up brand had established for itself, the loaner was not a disposable or cut-rate watch. It was a time-only 1815 that was almost identical to the standard model – with the same highly finished movement and solid silver dial – except the case was steel while the dial was black with white markings, a colour not available on the regular production watch. Note the case back engraving. Photo – Sotheby’s Reputedly around 80-120 of these service watches were made. They were produced in small batches over a period, perhaps over a handful of years from the late 1990s to the early 2000s. The number might not seem like much, but with the company being relatively new at the time, the number of watches returned for servicing was presumably quite small. The movement in the service watch is finished to exactly the same level as that on a standard watch. Photo – Sotheby’s The 1815 serv...

Highlights: Phillips Hong Kong Watch Auction – Complications and Enamel SJX Watches
Vacheron Constantin minute repeater pictured above Nov 18, 2019

Highlights: Phillips Hong Kong Watch Auction – Complications and Enamel

Happening in just over a week, the Phillips Hong Kong watch auction is a 321-lot event spread over two days. Notably, the first session is an evening sale titled First, made up of 52 watches consigned by their original owners. The offerings in First, as well as the main sale the next day, are diverse array ranging from a possibly unique Patek Philippe Sky Moon Tourbillon with a black dial, and a wonderfully elegant Vacheron Constantin minute repeater (pictured above) – both consigned by the first owners no less – to vintage sports Rolex watches and Omega Speedmasters. The Sky Moon Tourbillon ref. 5002G Another original owner Patek Philippe grand complication, the ref. 5033P Here we cover some of the complicated watch highlights, while other vintage and sports watches will be featured in a subsequent article. The full catalogue is available on Phillips.com. First, lot 833 – Vacheron Constantin Traditionnelle Perpetual Calendar Chronograph One of the best values in the segment of perpetual calendar chronographs is a pre-owned Vacheron Constantin Traditionnelle Perpetual Calendar Chronograph. This example is in platinum, with a largish 43mm case that is suited to today’s taste for larger watches. The layout is traditional for a perpetual calendar chronograph, though the calendar windows are slightly small relative to the size of the dial. But this has a decorative flourish few of its peers have: the moon phase is a hand-engraved disc of white gold that features a tiny...

Dubai Watch Week Returns – Nov 20-24 SJX Watches
Grand Seiko Nov 17, 2019

Dubai Watch Week Returns – Nov 20-24

Returning for the fifth time, Dubai Watch Week (DWW) will take place from November 20-24, once again at the Dubai International Financial Centre (DIFC), a sprawling complex of offices, shops, restaurants, and three hotels, which is entirely self contained, making a visit to DWW easy to plan. As is tradition, the event includes exhibitions, watchmaking classes, and talks. Amongst the speakers will be Masayuki Hirota, an eminent Japanese watch journalist and the editor of Chronos Japan, who will be speaking about Grand Seiko. And DWW once again includes the Horology Forum, a series of panel discussions that take place daily. Panellists this year include journalists like Ariel Adams of aBlogtoWatch, watchmakers like Philippe Dufour and Stephen Forsey; brand chiefs including Karl-Friedrich Scheufele of Chopard, Jean-Claude Biver of LVMH, and Benoit Minitiens of Ressence; as well as watch collectors like San Francisco-based Jeffrey Kingston, and Aldis Hodge, an American actor who is also a jury member of the Grand Prix d’Horlogerie de Geneve. And naturally the speakers’ roster also includes prominent local personalities, including collector Hamdan Al Hudaidi and Mohammed Abdulmagied Seddiqi, chief commercial officer of Seddiqi Holding, the parent company of DWW’s organiser. A panel session at DWW 2018 And some newcomers Rolex is taking part for the first time in DWW, and bringing along with it the Oyster Perpetual Submariner exhibition, a series of displays within a sh...

Highlights: Christie’s Hong Kong Watch Auction Fall 2019 SJX Watches
Audemars Piguet Jules Audemars Equation Nov 15, 2019

Highlights: Christie’s Hong Kong Watch Auction Fall 2019

After a record-setting auction weekend in Geneva, the action moves to Hong Kong in the last week of November. Chatter about the Hong Kong auctions this year are dominated by one watch, the Patek Philippe ref. 2523 twin-crown world time in pink gold with a blue enamel dial, because it carries the highest pre-sale estimate in watch auction history of 55m-110m Hong Kong dollars, or about US$7m-14m. Instead of being sold along with the rest of the watches on November 27, it will be the opening lot in the evening sale of 20th century and contemporary art on November 23. With the top lot in the evening sale – Five Nudes by Sanyu – having an estimate of HK$250m-550m dollars, or about US$32m-70m, the twin-crown world time hardly looks out of place. The Audemars Piguet Jules Audemars Equation of Time But the ref. 2523 aside, the rest of the Christie’s sale is made up of 239 more affordable timepieces, including an ultra-rare Patek Philippe ref. 3651 chronograph and a value-buy Audemars Piguet Jules Audemars Equation of Time in platinum. Here’s a look at highlights from the sale. And the full catalogue can be found here. Lot 2298 – Patek Philippe Nautilus ref. 3800/108G in white gold, with diamonds and emeralds  This is shameless 1990s bling – a Nautilus ref. 3800/108G. The suffix means it’s 18k white gold, fully set with brilliant-cut diamonds and having 11 baguette-cut emeralds for the hour markers. The watch feels weighty in the hand, though the case is compact. An...

RECOMMENDED READING: 14 lessons from Christies’ watch auction expert Time+Tide
Nov 12, 2019

RECOMMENDED READING: 14 lessons from Christies’ watch auction expert

To work at one of the largest international auction houses in the world, you need to know your stuff, which makes you very good at evaluating the world’s rarest watches and also passing that knowledge onto collectors and enthusiasts. One such watch auction expert is Dr Andrew Hildreth, who is responsible for presenting and writing … ContinuedThe post RECOMMENDED READING: 14 lessons from Christies’ watch auction expert appeared first on Time+Tide Watches.

Auction Report: Albert Piguet Double-Balance Resonance Watch Sells for CHF250,000 SJX Watches
Vacheron Constantin Nov 12, 2019

Auction Report: Albert Piguet Double-Balance Resonance Watch Sells for CHF250,000

One of the most interesting lots in the second instalment of Masterworks of Time at Sotheby’s that just concluded was a seemingly unassuming pocket watch with an estimate of just 7,000-10,000 Swiss francs. But the pocket watch contains a movement with a single gear train driving double balance wheels linked by a differential, constructed to keep time according to the principles of resonance. This is one of the very movements that inspired Philippe Dufour to create the Duality. And its appearance at auction comes at an opportune time, with F.P. Journe going to launch an entirely new Resonance movement in 2020. The Philippe Dufour Duality Mr Piguet of Lemania The movement was made by Albert G. Piguet (1914-2000), a noted watchmaker who finished the movement in 1933, just before graduating from the École d’Horlogerie in Le Sentier, then the premiere watchmaking school in the Vallee de Joux. He joined movement maker Lemania after graduation, and eventually rose to technical director. Piguet stayed in that role from 1948 to 1980, during which he helped develop numerous calibres, including the important CH27 chronograph movement that later became the cal. 321 found in the early Omega Speedmaster Moonwatch, and also the cal. 2310 used by the likes of Patek Philippe and Vacheron Constantin. Piguet’s 1933 pocket watch movement is just one of six produced between 1932 and 1934 by students at the watchmaking school, working under the tutelage of headmaster Marcel Builleumi...

Tudor’s Black Bay Ceramic One sold for a ridiculous amount at Only Watch 2019 Time+Tide
Tudor s Black Bay Ceramic Nov 11, 2019

Tudor’s Black Bay Ceramic One sold for a ridiculous amount at Only Watch 2019

If history is anything to go by, we shouldn’t have been surprised at news coming out of Only Watch 2019 that Tudor’s entry into the charitable auction, the Black Bay Ceramic One, had sold for a staggering 350,000 CHF ($515,000 AUD). In fact, for Tudor’s third pièce unique entered into Only Watch to do anything … ContinuedThe post Tudor’s Black Bay Ceramic One sold for a ridiculous amount at Only Watch 2019 appeared first on Time+Tide Watches.

Auction Report: What Went Down at Only Watch 2019 SJX Watches
Audemars Piguet chief executive Francois-Henri Bennahmias Nov 11, 2019

Auction Report: What Went Down at Only Watch 2019

Only Watch 2019 is the biggest watch auction ever – and it was the most exciting sale in a notably quiet Geneva auction season – with 50 lots selling for 38.59m Swiss francs. The last Only Watch auction in 2017 raised a mere 9.29m francs in comparison. And of course 31m francs of that came from just one watch, the Patek Philippe Grandmaster Chime in steel, which went to a determined buyer from Asia bidding via telephone with Wei-Ting Jud of Christie’s London. Presided over by Christie’s jewellery department head Rahul Kadakia, the best watch auctioneer who is not a watch specialist, the saleroom in Geneva’s Four Seasons Hotel des Bergues was jam-packed, so full even Audemars Piguet chief executive Francois-Henri Bennahmias had to stand. And there was even a famous face in attendance, or at least in the same building – former Thai prime minister Thaksin Shinawatra, who is a a known watch collector, was spotted in the lobby of the hotel. Luc Pettavino, who founded only watch after his late son was stricken by Duchenne muscular dystrophy, the very disease that Only Watch raises funds to research a cure. Photo – Alex Teuscher Photography Though the Patek Philippe accounted for most of the sale proceeds – which all go to a medical charity – the other 49 lots in the auction still sold for an average of 155,000 Swiss francs, which is well above the average for a watch auction. The Antiquorum watch auction that took place a day later, for instance, averaged only...

Highlights: Phillips Geneva Watch Auction X SJX Watches
Patek Philippe ref 1463 Nov 10, 2019

Highlights: Phillips Geneva Watch Auction X

With the Double Signed theme auction out of the way, here are a few highlights from Phillips’ Geneva watch auction, including a Lange Zeitwerk that might be a value buy, and a steel Rolex Day-Date prototype. Lot 145 – Lange Zeitwerk in rose gold The Zeitwerk is unquestionably a modern classic – notably, it is probably the most reliable digital display watch on the market – and is relatively good value on the secondary market, selling for a chunk off retail. This example is in rose gold, and is complete with all boxes and paperwork. It was first sold in 2011, and obviously wasn’t worn much sine then. The estimate is just 20,000-40,000 Swiss francs. Lot 179 – Patek Philippe ref. 1463 in steel One of the top lots in the sale, this is a ref. 1463 “Tasti Tondi”, an early water-resistant chronograph by Patek Philippe. But this is in steel, of which only 67 are known, with a two-tone dial, furthering reducing the number known to just 17. The watch is in excellent condition, with a sharply preserved case and original dial, although the dial might have been cleaned in the distant past. The estimate is 300,000-600,000 francs. Lot 209 – Patek Philippe ref. 1518 in yellow gold The ref. 1518 is a landmark, being the first serially produced chronograph with perpetual calendar. This is a good example of the ref. 1518, almost the quintessential version of the model with a yellow gold case. It is clean and in good condition, albeit showing a little bit of age on the dial,...

Top 3 most expensive watches sold at Only Watch 2019, also featuring Audemars Piguet and F.P. Journe Time+Tide
Audemars Piguet Nov 9, 2019

Top 3 most expensive watches sold at Only Watch 2019, also featuring Audemars Piguet and F.P. Journe

Patek Philippe’s entry into Only Watch 2019, the one-of-a-kind stainless steel Patek Philippe Grandmaster Chime ref. 6300A, has just smashed, in fact obliterated, the record for the most expensive watch ever sold at auction. But it wasn’t just the Patek that stretched into the seven-figure stratosphere at the charitable auction last night, as two other … ContinuedThe post Top 3 most expensive watches sold at Only Watch 2019, also featuring Audemars Piguet and F.P. Journe appeared first on Time+Tide Watches.

WATCH DISASTERS #1 – Ken’s prodigal GMT-Master II Time+Tide
Nov 9, 2019

WATCH DISASTERS #1 – Ken’s prodigal GMT-Master II

Watch Disasters is a new series on Time+Tide that describes, in chilling detail, incidences when owning an expensive watch goes wrong. This is not going to be comfortable reading, so prepare for the pain. Admittedly, this is a bit of a soft start. The ‘prodigal’ in the title gives it away. If you have a … ContinuedThe post WATCH DISASTERS #1 – Ken’s prodigal GMT-Master II appeared first on Time+Tide Watches.

Breguet has nailed it for Only Watch 2019 Time+Tide
Breguet has nailed it Nov 7, 2019

Breguet has nailed it for Only Watch 2019

Only Watch 2019 is now less than 24 hours away from kicking off, and Breguet has really knocked it out of the park with their entry in this year’s charitable auction. The Breguet Type XX Only Watch 2019 is, I think we can all agree, a handsome timepiece, and that’s largely because the pièce unique … ContinuedThe post Breguet has nailed it for Only Watch 2019 appeared first on Time+Tide Watches.

Hands-On: Audemars Piguet Code 11.59 Tourbillon Openworked “Only Watch” SJX Watches
Audemars Piguet Code 11.59 Tourbillon Openworked Nov 7, 2019

Hands-On: Audemars Piguet Code 11.59 Tourbillon Openworked “Only Watch”

At Only Watch 2017, Audemars Piguet’s Royal Oak Perpetual Calendar in black ceramic – but with a one-off blue dial – sold for a whopping 800,000 Swiss francs, with two phone bidders driving it to nearly seven times the high estimate. It was the third most expensive watch in the sale. This year’s contribution is no Royal Oak – far from it – but it’s surprisingly worthy of a second look. In fact, it’s probably the best-looking watch to emerge from the brand’s often criticised Code 11.59 line. Amidst the flak heaped upon it, the Code 11.59 range had a couple of standouts, including the Tourbillon Openworked. And that’s where AP started for Only Watch 2019. The Tourbillon Openworked Only Watch retains the slim, beautifully finished skeleton movement, eschewing the contentious Code 11.59 dial altogether. And the movement has a two-tone finish that smartly highlights the most important mechanical components. To match the movement, the Only Watch edition features a two-tone case that does justice to the Code 11.59 construction in a way the uniform colour of the standard models simply couldn’t. Superbly constructed In terms of size, the case is identical to the standard model – 41mm by 10.7mm. Beyond immediate impressions, the case is wonderfully constructed with a subtle and intriguing mix of shapes and finishing made obvious by the two-tone materials. The octagonal case middle is pink gold, while the rest of the case, including the lugs, are white gold,...

Up Close: Konstantin Chaykin Joker Selfie for Only Watch 2019 SJX Watches
Konstantin Chaykin Nov 5, 2019

Up Close: Konstantin Chaykin Joker Selfie for Only Watch 2019

Though the Konstantin Chaykin Joker Selfie was already explained in great detail by Bjorn Meijer a couple of weeks ago, it’s compelling enough for a second, quick look, since I just received a new set of photos. Konstantin’s standard Joker (or Clown) wristwatch is well known, while also being fairly straight forward mechanically. The one-off Joker Selfie he created for the upcoming Only Watch charity auction is fundamentally and dramatically different, although the shares the familiar funny face. To start with the case is made of bulat, a high carbon steel alloy better known as Wootz steel. Sometimes incorrectly known as Damascus steel, bulat is an alloy with a patterned surface that’s a result of the metals mixed within. The irregular structure of the alloy, combined with its hardness, means it was a challenge to make the Joker Selfie case. Konstantin only completed the case after two discarded cases due to structural problems that emerged after machining. The Joker Selfie tells the time like the standard Joker, with the pupils in each eye pointing to the time, with a moon phase display incorporated into the mouth of the clown. And it has the day of the week, indicated with emoticons, much like Alain Silberstein’s trademark “smileday”, at 12 o’clock. But it also has an additional “secret” display, with a swivelling lever under the dial that covers either the hours or the day of the week display. It’s a gravity-activated mechanism that shows the hours ...

Hands-On: George Daniels Anniversary Watch in White Gold SJX Watches
Omega Nov 3, 2019

Hands-On: George Daniels Anniversary Watch in White Gold

Though extremely rare, the George Daniels Anniversary Watch is a familiar timepiece because it has been widely covered and is arguably the signature George Daniels wristwatch. Though the Daniels Millennium was made in larger numbers, it was powered by a modified Omega (and by extension, ETA) movement. In contrast, the Anniversary relies on a proprietary movement designed by Daniels and his protege Roger W. Smith – and it’s almost a visual twin of the one-off Daniels chronograph wristwatch. But the basic architecture of the Anniversary movement comes from the movement in Series 2, the trademark Roger W. Smith timepiece, which was launched in 2006, three years before the Anniversary. The white gold Anniversary next to the owner’s other example in yellow gold The quintessential Daniels Anniversary is in yellow gold, of which 35 were made. But when first launched in 2009, the Anniversary series was also meant to encompass four box sets of four watches each, made up of one watch in each colour of gold and another in platinum. The sets were never produced, however, individual watches originally destined to be part of the sets were. Owned by a noted collector who acquired it direct from the George Daniels trust, this Anniversary in white gold is one of them. And it is the only Anniversary ever made in white gold so far. On the wrist of the owner Though identical in design to the yellow gold Anniversary, the white gold watch looks more contemporary by virtue of its colour. ...

Hands-On: Urwerk x De Bethune Moon Satellite for Only Watch 2019 SJX Watches
De Bethune Moon Satellite Nov 1, 2019

Hands-On: Urwerk x De Bethune Moon Satellite for Only Watch 2019

The collaboration between Urwerk and De Bethune for the upcoming Only Watch is pretty straightforward: an Urwerk wandering hours time display module mounted on a De Bethune base movement, and housed in a De Bethune case. But it works, and the Moon Satellite is one of the coolest watches of the charity auction. Conceptually the Moon Satellite is similar to the Arpal One made for the last Only Watch. Long and sleek, the Arpal One was a collaboration between Urwerk and Laurent Ferrier that looked good, but with an enormous case – it was 60.8m long – that was much too large. The Moon Satellite, on the other hand, is just right. That’s because the case is derived from De Bethune DB28, which is a large watch but one with a smallish footprint and sprung, pivoted lugs that allow it to hug the wrist. The Moon Satellite is slightly larger than a DB28, but almost the same on the wrist. Entirely in mirror polished titanium, the case looks like a helmet for a warrior robot. Its shape is asymmetric – angular on the lower half and rounded at the top – in order to accommodate the time display. It’s reminiscent of a helmet, but instantly recognisable as coming from Urwerk, having the U-shaped crystal first found on the Urwerk UR-103 and now on the UR-105. Coincidentally, both Urwerk and De Bethune position the crowns on most of their watches at 12 o’clock, and so there it is. Though it has a similar shape to the standard Urwerk crown, the Moon Satellite crown is flat, so tha...

Hands-On: Breguet Type 20 for Only Watch 2019 SJX Watches
Breguet Type 20 Oct 29, 2019

Hands-On: Breguet Type 20 for Only Watch 2019

Breguet’s contribution to the most recent Only Watch auction in 2017 was a unique, enlarged version of its inventive in-line perpetual calendar that had the calendar indications arranged in a column vertically across the dial. Though clever and unusual, the watch was probably too esoteric and classical for current tastes, and it sold for 110,000 Swiss francs, just 10% above the high estimate, reputedly to a discerning collector in Australia. This year’s upcoming Only Watch, however, includes a very different Breguet that should sell for a multiple of its estimate. The Type 20 for Only Watch 2019 is essentially a spot-on replica of the two-register aviator’s chronograph Breguet supplied to the French military from the mid 1950s – exactly the type of watch that is desirable now. Specifically, it’s a remake of the first generation Type 20, which was marked “5101/54” on the case back, denoting the order number, “5101”, and the year of 1954. More specifically, it’s based on the Type 20 made for the French air force, distinguished by equal-sized sub-dials; watches for the naval air arm had oversized minute counters. Named after the French military specification for pilot’s chronographs, itself derived from the Second World War German air force chronograph design, the original Type 20s were produced by a variety of watchmakers, including Vixa, Dodane, and Auricoste. Breguet examples, however, are the most valuable. Note that “Type XX” refers to the same...

Up Close: Akrivia Rexhep Rexhepi Chronomètre Contemporain “Only Watch” SJX Watches
F.P. Journe Astronomic Blue Oct 25, 2019

Up Close: Akrivia Rexhep Rexhepi Chronomètre Contemporain “Only Watch”

Independent watchmakers are a major presence at Only Watch 2019, accounting for almost half the 50 lots in the charity auction coming. Importantly, two of them will probably end up in the top five by value – the F.P. Journe Astronomic Blue and the Rexhep Rexhepi Chronomètre Contemporain “Only Watch”. While the Astronomic Blue is the most complicated wristwatch F.P. Journe has ever made, the Chronomètre Contemporain “Only Watch” is a time-only watch, with a suitably modest estimate of 40,000-60,000 Swiss francs, though it’ll probably sell for five to seven times the low estimate. Hammered, and enamelled The key element that sets the “Only Watch” edition apart from the standard Chronomètre Contemporain is the dial. Completely unique because of the technique – used here for the first time in an Akrivia watch – the dial combines the surfaces finish of Akrivia’s two distinct collections: the hand-hammered decoration of the contemporary AK line and the vitreous enamel of the classic Rexhep Rexhepi range, named after the brand’s founder. Several attempts were required to get a perfect dial – Rexhep showed me one of the rejects with a cloudy finish in September – but the result is quietly impressive. Note that it is hammered and then enamelled, but not hammered enamel. Ordinarily a new dial colour doesn’t mean very much, but because the Chronomètre Contemporain regarded, and Rexhep has kept his promise not to do variations or custom orders of th...