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In-Depth: Patek Philippe Grande Sonnerie Ref. 6301P-001 SJX Watches
Patek Philippe Grande Sonnerie Ref 6301P-001 Jan 12, 2021

In-Depth: Patek Philippe Grande Sonnerie Ref. 6301P-001

Patek Philippe closed 2020 in a big way with the launch of the Grande Sonnerie ref. 6301P-001 in November. The most complicated wristwatch unveiled by the Geneva watchmaker in recent years, the Grande Sonnerie is a grande and petite sonnerie carillon. With last year’s Geneva watch fair cancelled, the brand unveiled its new releases one by one throughout the year, starting with the limited-edition Calatrava ref. 6007A in June, allowing each new model to be in stores as soon as it was announced. The Grande Sonnerie ref. 6301P-001 was no different, albeit on a tiny scale, with reputedly only a handful available in each region – all sold before the launch. Initial thoughts An impressively large watch, the ref. 6301P feels like a modern-day grand complication. The size is a consequence of the wide and complex movement, so the watch has good proportions all things considered. But the styling is classical, incorporating many elements from vintage Patek Philippe watches – and also the ref. 5370P split-seconds chronograph – which gives it an elegant appearance, something helped by the relative thinness of the case. Still, it is clearly a contemporary watch – Patek Philippe rarely does exact remakes of vintage watches – with details that mark it out as such, including the recessed case band and the luminous hands. The fact that the watch is contemporary is evident in the movement, which looks and functions like a modern calibre, reflecting Patek Philippe’s measured,...

Highlights: Independent Watchmaking at Phillips’ ‘Retrospective: 2000 – 2020’ SJX Watches
Patek Philippe ref 5970. And Nov 5, 2020

Highlights: Independent Watchmaking at Phillips’ ‘Retrospective: 2000 – 2020’

Taking place this weekend as a live auction with only cameras, telephones, and online bidding, Retrospective: 2000 – 2020 is a thematic sale that happens the day after Phillips’ Geneva watch auction. The second sale curated with Blackbird, both the publisher of a watch magazine as well as the agent for Ferrari in Hong Kong, Retrospective: 2000 – 2020 is self explanatory: contemporary wristwatches produced in the past 20 years. The 95 lots that make up the sale are a selection of the important, interesting, and intriguing from the last two decades, including obvious candidates like the Rolex Daytona and Patek Philippe ref. 5970. And the sale also includes notable watches that usually go under the radar, like the Breguet Classique Chronometrie 7727 with magnetic balance pivots (which is possibly the most accurate Swiss-made mechanical watch of the 21st century). The Breguet Classique Chronometrie 7727 (lot 258) Importantly, the line up also encompasses a diverse selection of independent watchmaking, reflecting the rise of these niche watchmakers. Here’s a roundup of highlights from independent watchmakers, which include the Philippe Dufour Simplicity 20th Anniversary and the ultra-rare Opus Eleven. The selection includes the worthy Seiko Credor Eichi II and Lange 1 25th Anniversary. Neither comes from an independent watchmaker, but both are as close as it gets for establishment brands. Lot 206 – Philippe Dufour Simplicity 20th Anniversary No. 00/20 Philippe Dufour...

Watchmaking: How the Art of Precision Regulation Became a Science SJX Watches
Ulysse Nardin Oct 14, 2020

Watchmaking: How the Art of Precision Regulation Became a Science

They were once the horological elite, credited with magical powers. The precision timers who tuned the watches for the observatory trials in the 1960s and 1970s are now a dwindling band in the twilight of their lives. In those days, when mechanical precision rather than mechanical complication determined the value of a watch, precision timing was a post-graduate discipline that took a lifetime to master. Before he died last October in his 90th year, one old timer, François Mercier of Le Locle, described what he had to do to win prizes for his employers, initially Ulysse Nardin and then the hairspring spring manufacturer Spiraux Réunis. First, he had to identify the most faultless spring, calculate and shape the terminal curve, pin it up to the staff of a previously poised balance wheel. Then he would shift balance screws by hundredths of a millimetre, adjust forces and inertia in micrograms, to move a fraction of a second closer to the unattainable goal of a true and constant time. An overcoil hairspring in a contemporary Voutilainen Vingt-8 Temperature compensation  The biggest challenge was to compensate for the effects of temperature changes on the steel alloy springs of old. As the temperature rose, the spring would lose its elasticity and beat more slowly. Such springs needed a compensation balance made of two metals each having a different coefficient of expansion. Rising temperatures would cause the cut ends of the balance rim to curl inwards, thereby increasing...

VIDEO: The Hublot Spirit of Big Bang Meca-10 King Gold with 240 hours power reserve is testosterone-drenched tech at its absolute finest Time+Tide
Hublot Spirit Oct 6, 2020

VIDEO: The Hublot Spirit of Big Bang Meca-10 King Gold with 240 hours power reserve is testosterone-drenched tech at its absolute finest

Editor’s note: As I go to post this review, something very sad just dawned on me. It’s been over three years since I’ve had a holiday as long as the power reserve of this watch. Which is 10 days. Ten. Days. Which means this watch would still be ticking after one wind upon my return … ContinuedThe post VIDEO: The Hublot Spirit of Big Bang Meca-10 King Gold with 240 hours power reserve is testosterone-drenched tech at its absolute finest appeared first on Time+Tide Watches.

Petermann Bédat Seconde Morte: Dead Seconds, Independently (Video) Quill & Pad
Petermann Bédat Sep 17, 2020

Petermann Bédat Seconde Morte: Dead Seconds, Independently (Video)

Petermann Bédat is a young company comprising a youthful duo of independent watchmakers by the names of Gaël Petermann and Florian Bédat. Their first watch features a deadbeat style of seconds created with the help of grand master Dominique Renaud. Our friends at The Watches TV hosted Gaël Petermann and Florian Bédat in their Geneva studio to find out more. Watch their talk here!

INTRODUCING: The legend of the Rolex Submariner Date 41mm Ref.126610LN grows (by 1mm) Time+Tide
Rolex Submariner Date 41mm Ref.126610LN Sep 5, 2020

INTRODUCING: The legend of the Rolex Submariner Date 41mm Ref.126610LN grows (by 1mm)

Shock. That’s been the general consensus for the last few days among our enthusiast community. Rolex has just unveiled the all-new Rolex Submariner Date 41mm Ref.126610LN, and they’ve made one of the biggest changes to the dive watch in its 51 years of existence. For the first time in the legendary moniker’s history, the Oyster … ContinuedThe post INTRODUCING: The legend of the Rolex Submariner Date 41mm Ref.126610LN grows (by 1mm) appeared first on Time+Tide Watches.

Business News: Watches & Wonders Shanghai to Happen September 2020 SJX Watches
Vacheron Constantin all owned Jul 23, 2020

Business News: Watches & Wonders Shanghai to Happen September 2020

With its Geneva debut in April 2020 cancelled due to the COVID-19 pandemic, the watch fair once known as SIHH is moving to Shanghai. Its organisers have just announced Watches & Wonders Shanghai will take place from September 9-13, 2020 at West Bund Art Center. W&W; Shanghai will see only 11 brands take part, down from 30 at the Geneva event. The exhibiting brands are A. Lange & Söhne, Baume & Mercier, Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, and Vacheron Constantin – all owned by Swiss luxury group Richemont – as well as independently-owned brands Parmigiani Fleurier and Purnell. Like the original fair in Geneva, the Shanghai event will be invite-only, and will include new product launches, talks, as well as watchmaking classes. Alongside the physical exhibition in Shanghai, W&W; will also unveil the new products on its website. With the Chinese watch market now in the midst of a sharp upturn post-pandemic – evidenced in the results of both Richemont and the Swatch Group – China is likely the single largest national market for luxury watches that is operating close to normal, making the migration of the event from Geneva to Shanghai eminently logical.  

Business News: Richemont Sales Halve in First Quarter of 2020 SJX Watches
Panerai suffered from widespread store Jul 16, 2020

Business News: Richemont Sales Halve in First Quarter of 2020

Just days after the Swatch Group posted dismal half-year results, Richemont reported predictably poor sales for its first quarter, with revenue falling 47% to €1.99 billion compared to a year earlier. Like its rival the Swatch Group, Richemont was hit hard by the COVID-19 pandemic. The owner of almost two dozen watch and jewellery brands, including Cartier, IWC and Panerai, suffered from widespread store and distribution centre closures, a worldwide halt in tourism, and dampened consumer interest in many of markets, although China was a bright spot. Degrees of resilience The group’s business across the world was affected to varying degrees from region to region, depending on a combination of factors, namely the duration of closures, tourist spending, and spending of the domestic buyers. Although Richemont reported double-digit sales declines across all regions, distribution channels and business areas, the decreases were less pronounced in the Middle East, Africa, and Asia Pacific – the latter benefitted from a 47% year-on-year growth in sales in China, which exited its lockdown earlier than the rest of the world. China’s performance helped keep sales in the Asia Pacific resilient, to a degree. Sales in the region decreased by 29% at actual exchange rates to €277m, declining in all Asian markets, except China. Amongst the hardest hit were Japan and the Americas, where sales dropped 62% and 60% respectively due to widespread closure. The 2020 Cartier Privé Tank...

Business News: Swatch Group Sales Plunge on Pandemic Closures SJX Watches
Longines had Jul 14, 2020

Business News: Swatch Group Sales Plunge on Pandemic Closures

Swiss watchmaking conglomerate Swatch Group just announced its half-year 2020 results and unsurprisingly, it took a huge hit due to the COVID-19 pandemic. Although the group, which owns brands like Omega and Longines, had a good start in January with an operating margin of 17.3% – with the watch and jewellery brands performing a bit better than movement- and component-production division – the lockdown progressively imposed across the world since February severely impacted sales, leading to a steep declines in revenue and half-year operating loss, a first for the group. Group sales for the first half plunged 43.4% at constant exchange rates from a year earlier, resulting in an operating loss of CHF327m, compared to a profit of CHF547m for the same period in 2019. Most of the drop in sales was attributed to the lockdowns in most countries, resulting in widespread store closures. The Swatch Group saw up to 80% of both its own boutiques and third-party retailers close, meaning it had to rely on partially “partially feasible” e-commerce. And even after lockdowns were lifted, the group permanently vacated some of its retail space, as evidenced by disputes with its former landlord in Hong Kong, which has sued the Swatch Group for several million in allegedly unpaid rent. Due to its swiftly-streamlining retail network, the group’s employee count was trimmed by 6.5% since December 2019 to approximately 33,700 employees. This was also confirmed by anecdotal evidence fro...

Understanding Resonance, Featuring The F.P. Journe Chronomètre à Résonance, Armin Strom Mirrored Force Resonance, And Haldimann H2 Flying Resonance – Reprise Quill & Pad
F.P. Journe Chronomètre à Résonance Armin Jul 11, 2020

Understanding Resonance, Featuring The F.P. Journe Chronomètre à Résonance, Armin Strom Mirrored Force Resonance, And Haldimann H2 Flying Resonance – Reprise

Resonance. No, it is not a Tesla-themed Evanescence cover band. Resonance is a physics principle that, to be honest, most people will never need to know to go about their daily lives. So what is all the hubbub about resonance these days? It’s a word that is, even in the watch world, so mysterious and rare that it is heard only once or twice a decade. In this article Joshua Munchow explains how resonance works and why it matters.

Up Close: Patek Philippe Calatrava Ref. 6007A “New Manufacture 2019” SJX Watches
Patek Philippe Calatrava Ref 6007A “New Jun 21, 2020

Up Close: Patek Philippe Calatrava Ref. 6007A “New Manufacture 2019”

Unveiled just a day ago, the Patek Philippe Calatrava ref. 6007A “New Manufacture 2019” is a commemorative edition for the completion of the brand’s huge headquarters in Geneva. Though it is a just time-and-date watch, the ref. 6007A has a few interesting details that set it apart from the typical Calatrava, and all the details come together nicely for a refreshingly modern – and expensive – Calatrava. While the launch of the ref. 6007A was largely a surprise, in some other ways it wasn’t. When Patek Philippe debuted the Calatrava ref. 5212A Weekly Calendar a year ago, it was a quirky outlier amidst the formality of the Calatrava line. But insiders revealed that the Weekly Calendar was a hint about the Calatrava’s future. While endowed with such a long history that “Calatrava” is almost a synonym for a thin, classical dress watch, the Calatrava line was getting old fashioned. Featuring hand-writing inspired markings on the dial, the Weekly Calendar marked a new design direction for the line. At the same time, the Calatrava collection has been trimmed significantly, leaving just four men’s Calatrava references (the refs. 5196, 5227, 5297, and 6006), and now the ref. 6007A. The Calatrava ref. 6007A “New Manufacture 2019” The Calatrava ref. 5212A Weekly Calendar Initial thoughts I like the look of the ref. 6007A. It doesn’t look like yet another silver-dial dress watch, which makes is especially appealing for anyone who already has a silver-dial d...

“Jason Statham owns and buys all his IWCs himself,” says IWC CEO in playful interview about the 2020 Portugieser Collection Time+Tide
Rolex Jun 9, 2020

“Jason Statham owns and buys all his IWCs himself,” says IWC CEO in playful interview about the 2020 Portugieser Collection

“I haven’t read your article yet about which action stars are wearing which watches,” IWC CEO Chris Grainger-Herr begins the interview by saying. “I just very much hope you haven’t got Jason Statham in there with his one Rolex in that one film, even though he buys and owns all his IWCs himself and wears … ContinuedThe post “Jason Statham owns and buys all his IWCs himself,” says IWC CEO in playful interview about the 2020 Portugieser Collection appeared first on Time+Tide Watches.

Phillips to Offer F.P. Journe Souscription Tourbillon and Resonance SJX Watches
Patek Philippe watches from May 18, 2020

Phillips to Offer F.P. Journe Souscription Tourbillon and Resonance

Postponed from its usual mid-May date to end-June, Phillips’ spring watch auction is Geneva is nonetheless the full works, with 214 lots on offer, including the four spectacular Patek Philippe watches from the collection of Jean-Claude Biver, including a ref. 1518 “pink on pink” and a second-series ref. 2499. Also amongst the offerings at the Geneva Watch Auction XI are two important examples of contemporary watchmaking – a pair of F.P. Journe souscription watches consigned by the original owner – Lorenz Bäumer. A jeweller whose workshop is on the storied Place Vendome in Paris, Mr Bäumer is perhaps best known for crafted the tiara worn by Charlene Wittstock when the former Olympic swimmer wed Prince Albert II of Monaco in 2011. But Mr Bäumer is also a watch aficionado who met François-Paul Journe via a mutual friend. Mr Journe had then decided to launch his own brand by taking inspiration from Abraham-Louis Breguet, who had offered clients the opportunity to purchase a newly-developed, fairly-affordable watch by first putting down a deposit – thus “subscribing” to the offer. The jeweller became a “subscriber” and paid the down payment for a Tourbillon Remontoir d’Egalite “Souscription”, subsequently receiving the watch numbered “14/20” on the dial. A year later, Mr Bäumer was approached once again to “subscribe” for the new Chronomètre à Resonance “Souscription”. He took up the offer, and again got the watch number “14”....

Rolex, Patek Philippe, Chanel, Chopard, And Tudor Leave Baselworld: History In The Making Quill & Pad
Patek Philippe Chanel Chopard Apr 14, 2020

Rolex, Patek Philippe, Chanel, Chopard, And Tudor Leave Baselworld: History In The Making

Rolex, Patek Philippe, Chanel, Chopard and Tudor have just announced leaving Baselworld to create a new watch show in Geneva with the Fondation de la Haute Horlogerie's Watches & Wonders. The show will be held in early April 2021 at Geneva's Palexpo. This is going to be one interesting year full of new thoughts and ideas. Get out the popcorn!

Breaking News: Rolex, Patek Philippe, Chanel, Chopard and Tudor Pull Out of Baselworld SJX Watches
Patek Philippe Chanel Chopard Apr 14, 2020

Breaking News: Rolex, Patek Philippe, Chanel, Chopard and Tudor Pull Out of Baselworld

The unravelling of what was once the world’s largest watch and jewellery show has finally reached its unsurprising climax as the biggest exhibitors at Baselworld – Rolex, Patek Philippe, Chanel, Chopard, and Tudor – have just announced their withdrawal from the event. Instead the all-important brands – Rolex is the world’s largest luxury watch brand by turnover – will decamp to Geneva to show their new products at a new, as-yet unnamed watch fair that will merge with Watches & Wonders (W&W;). In the announcement signed by representatives of all five brands, the departing brands cited the “unilateral decisions taken by the management of Baselworld, including the postponement of the Fair in January 2021, as well as its inability to meet the expectations and needs of brands” as reasons for their withdrawal. With that, the centre of gravity for watch trade shows will shift definitely to Geneva, and marking the end of Baselworld as a crucial event on the industry’s calendar. Not only does it call into question the viability of Baselworld, it might even be a mortal blow for the watch fair’s parent company, MCH Group, which also owns Art Basel. Hello Geneva What started with the Swatch Group’s shock exit from Baselworld in 2018 accelerated this year, with the show’s exhibitor’s committee, led by a senior Rolex executive, politely demanding a refund of fees paid for the cancelled 2020 show. The negotiations between exhibitors and fair organisers have ob...

No Baselworld this year, for the first time since World War 1 Time+Tide
Feb 28, 2020

No Baselworld this year, for the first time since World War 1

It was only a day ago that the watch world was reacting to the cancellation of Watches & Wonders Geneva (formerly SIHH), as a result of the increasing spread of the Coronavirus, and wondering if Baselworld would suffer the same fate in 2020. Overnight, the answer was given, as Baselworld announced that it would be … ContinuedThe post No Baselworld this year, for the first time since World War 1 appeared first on Time+Tide Watches.

Breaking News: Baselworld 2020 Cancelled, Becomes Baselworld 2021 [Updated] SJX Watches
Rolex Feb 28, 2020

Breaking News: Baselworld 2020 Cancelled, Becomes Baselworld 2021 [Updated]

On a fast-moving Friday that started with the first case of the COVID-19 coronavirus in the city of Basel being diagnosed according to Swiss newspaper Le Temps, the day culminated in the organisers of Baselworld 2020 announcing its postponement to January 2021, essentially cancelling this year’s trade fair. This comes a day after the organisers of Geneva watch fair Watches & Wonders announced it was cancelled, which wipes out the entire year’s calendar for the major watch industry events. Though the Baselworld organisers had initially planned to meet on Monday, March 2, according to an announcement by Hubert J. du Plessix, the president of the event’s exhibitors committee (and also the director of investments and logistics at Rolex), events got ahead of them. The primary catalyst Baselworld’s cancellation was the Swiss government declaring a ban on all gatherings of over 1,000 people, until at least March 15 – which instantly made the Geneva Motor Show, one of the automotive industry’s most important events, a non-starter. Now Baselworld 2021 will take place from January 28 to February 2, with press day happening on January 27. Baselworld managing director Michel Loris-Melikoff, commenting in the announcement of the event’s cancellation, stated “We have found a solution that enables the industry and all our customers to avoid losing a full year and at the same time reset their calendars for the beginning of the year, a period that is conductive to the...

Coronavirus cancels Watches & Wonders 2020, is Baselworld next? Time+Tide
Citizen Feb 27, 2020

Coronavirus cancels Watches & Wonders 2020, is Baselworld next?

Watches & Wonders Geneva (formerly SIHH) has been cancelled in an announcement by the FHH overnight, as a result of the growing concerns around the Coronavirus and its spread throughout the world. This comes off the back of both Citizen and Bulova announcing their withdrawal from Baselworld just days ago, and adds Watches & Wonders … ContinuedThe post Coronavirus cancels Watches & Wonders 2020, is Baselworld next? appeared first on Time+Tide Watches.

‘Arm’s Length Architecture’: Building Blocks To Watchmaking As Exemplified By Some Of Today’s Wristwatches Including Urwerk, Nomos, Mido And Girard-Perregaux – Reprise Quill & Pad
Girard-Perregaux Reprise SIHH 2019 provided Feb 22, 2020

‘Arm’s Length Architecture’: Building Blocks To Watchmaking As Exemplified By Some Of Today’s Wristwatches Including Urwerk, Nomos, Mido And Girard-Perregaux – Reprise

SIHH 2019 provided an instructive example to Tim Mosso of architecture’s low-key role in watch design relative to well-worn tropes. For him it was the third year in a row that parts of Geneva’s Palexpo felt like a Southern California cars-and-coffee event. But there are a few watch brands that do architecture well, and Tim takes a closer look at some of them here.

Panerai Introduces the Luminor Marina Carbotech PAM 1661 SJX Watches
Panerai Introduces Feb 3, 2020

Panerai Introduces the Luminor Marina Carbotech PAM 1661

Three years ago, Panerai introduced the LAB-ID Luminor 1950 Carbotech 3 Days PAM 700, an experimental watch boasting carbon-based innovations inside and out, including ceramic bridges and plates that do away with jewelled bearings as well as a dial coated in carbon nanotubes giving it an absolute black finish. But the LAB-ID was truly experimental, and word has it that only a handful were sold and the planned 50-piece run was never completed. But no doubt due to the popularity of the LAB-ID’s design – and unpopularity of the €50,000 price tag – Panerai has just announced the Luminor Marina Carbotech 44 mm (PAM01661). It’s essentially a smaller, simpler LAB-ID, featuring a case in the same material, as well as blue lume on the dial and hands, but with a straightforward automatic movement without any of the bells and whistles found in the LAB-ID. The Luminor Marina Carbotech 44 mm Depth rated to 300 m, the case is made of Carbotech, a carbon fibre-reinforced polymer produced by compressing thin sheets of carbon fibres at high pressure with a high-end polymer (PEEK), explaining the wave-like appearance of the material. The result is a material that is light and strong, explaining why the large, 44 mm case weighs just 96 grammes, less than half the same case in steel. The LAB-ID of 2017 The watch has a standard Panerai dial, but in the colours of the LAB-ID. Like most Panerai dials, it has a “sandwich” construction, where the hour markers are cut-outs that r...

Business News: Swatch Group Annual Profit Falls with Hong Kong Slowdown SJX Watches
Longines just announced Jan 30, 2020

Business News: Swatch Group Annual Profit Falls with Hong Kong Slowdown

Hong Kong’s political unrest has resulted in the first fall in annual profits at the Swatch Group since 2018. The world’s biggest watchmaking group, which owns brands like Omega and Longines, just announced its 2019 results, showing declines in both sales and profits. Net profit fell 13.7%, while sales declined 1.8% at constant exchange rates, or 2.7% at current rates, to 8.24 billion francs. The drops in profit and sales were primarily due to a drastic contraction of its business in Hong Kong – a city with a population of just 7.4 million – where Swatch Group owns over 90 retail stores, largely catering to shoppers from the China. Sales in Hong Kong for the second half of 2019 fell by 200 million francs. While Hong Kong was the key driver of the decline, it was not the only one. The luxury watch business in general is suffering from anaemic growth, which is also evidenced by the watch division results at diversified luxury groups like LVMH and Kering. On a more positive note, Swatch Group has managed to fulfil its stated aims of reducing operating expenditure and thinning inventory. Operating expenses dipped about 6%, while operating cash flow rose 30% in 2019. And after several consecutive years of growth, the group’s inventories declined by 1% in 2019, to a still-substantial 6.85 billion francs at cost. It’ll be a slow 2020… With Swatch Group predicting the situation in Hong Kong will continue to be “challenging” in 2020, it is in a weaker positio...

Business News: De Grisogono Declares Bankruptcy SJX Watches
Jan 29, 2020

Business News: De Grisogono Declares Bankruptcy

Swiss jeweller De Grisogono, which in its prime was one of the most extravagant brands on the planet, has just filed for bankruptcy in Geneva, as a result of Luanda Leaks, the financial scandal that has engulfed Isabel dos Santos, the daughter of Angola’s former president, reports Swiss newspapers Tribune de Geneve and Le Temps. Luanda Leaks, a trove of leaked documents published by investigative news organisation ICIJ, revealed Angolan state funds were allegedly channeled to Ms dos Santos, helping make her the richest woman in Africa. Even before the leaked documents, Ms dos Santos and her family were already under pressure from her father’s successor, who has vowed to root out corruption in the oil-rich African nation. According to the documents, a portion of went to fund De Grisogono, which was acquired by a Angolan investors in 2012. The investment was led by Ms dos Santos’ husband, Sindika Dokolo, but allegedly funded by Sodiam, Angola’s state-owned diamond company. With De Grisogono continuing to lose money since 2012, the brand’s owners had been hawking De Grisogono for some time with no luck, and Luanda Leaks were the final nail in the coffin – the brand declared bankruptcy on Tuesday, January 28, 2020. The King of Black Diamonds Founded by Fawaz Gruosi in 1993, De Grisogono was perhaps most famous for its incredibly lavish annual party at the Cannes Film Festival – reputedly costing as much as 3 million francs in some years – that everyone who ...