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Audemars Piguet CEO François-Henry Bennahmias Will Leave AP In 2023
He'll leave behind a company transformed by his vision.
874 articles · 4 videos found · page 8 of 30
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He'll leave behind a company transformed by his vision.
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The Astronomic Souveraine has its eyes on the stars but remains firmly down-to-earth.
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The indie superstar's 2022 hero piece highlights the influence of early 2000s watchmaking.
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We're headed down to Havana to navigate price hikes and quartz qualifiers.
SJX Watches
A newcomer to the world of watch auctions, Loupe This was founded by a pair of industry veterans and operates in a distinctly 21st century manner: sales are conducted entirely online, with about ten watches on the block at any one time. The offerings on Loupe This are diverse. In December 2021 it sold an example of our Habring2 Erwin “Star” for US$15,400 including fees, while the latest to go under the hammer are two interesting, long-discontinued watches from notable watchmakers based in Geneva – but otherwise radically different. One is the a Rolex Milgauss ref. 1019 – in pristine, “new old stock” condition – and the other, an F.P. Journe Octa Chronographe 38 mm. Rolex Milgauss ref. 1019 Produced from 1960 to 1988, the ref. 1019 was the longest-running reference of the Milgauss, the brand’s famous magnetism-resistant watch conceived for engineers and nuclear scientists. Despite the lengthy production run, the ref. 1019 is relatively rare because the model wasn’t produced in sizeable numbers for the simple reason that it didn’t sell well. In fact, Rolex discontinued the Milgauss altogether in 1988, before reviving it some two decades later. While the rarity certainly boosts its appeal, the ref. 1019 is attractive and unusual for being one of the most fuss-free Rolex “Professional” sports watch. The ref. 1019 is also the simplest version of the Milgauss, doing without the rotating bezel or “lightning” seconds hand found on earlier models. It ...
Hodinkee
Everything old is new again, again.
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A deep dive into a watch nicknamed for an Oscar winner.
Quill & Pad
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? 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.
SJX Watches
Digital time displays might seem like a modern invention but they have been found in watches since the early 1800s. Digital displays are found in clocks from even farther back – Lange’s trademark oversized date was inspired by the five-minute, digital clock built by Ferdinand-Adolph Lange for Dresden’s Semper opera house that opened in 1841. But the biggest advances in mechanical digital time displays – with jumping indications – all arrived soon after the turn of the millennium. And the most important are just three – the A. Lange & Söhne Zeitwerk, F.P. Journe Vagabondage III, and Harry Winston Opus 3 – and now we’re going to put them side by side. The five-minute clock that sits just above the stage in the Semperoper, showing 07:30 pm. Photo – A. Lange & Söhne An new, old idea Watches with a single digital display, namely a jumping hours, date as far back as the early 19th century. Enough of them were made that such pocket watches appear regularly at auction. But a single digital display does not a digital watch make. The watch with a jumping, double-digital time display – and hence a true digital watch – was invented in 1883 when Austrian engineer Josef Pallweber patented a mechanism that indicated the time with discs, read through two windows, one for the hours and other, the minutes. He licensed the patent to a handful of watch brands, though it is IWC that is most closely associated with the Pallweber display. At the same time, it is importa...
Revolution
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Revisiting three of the top independent watchmakers working today.
Quill & Pad
Many people believe resonance to be very rare, when in fact every single timekeeping device (yes, even quartz) is a resonant mechanism. But clocks and watches featuring resonance as we generally understand it in watchmaking are few and far between. In the last few decades, less than a handful of highly skilled watchmakers have taken up the challenge of creating a resonance watch. Here, Joshua Munchow looks at the pros and cons of the different approaches taken by the three leaders in this technology.
It's a good day to be independent.
Two watches of enormous horological and historical importance, from a single collection.
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The 20th anniversary Chronomètre à Résonance is the most technically advanced yet.
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A bonanza from Bonanzaville.
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This is rare air for independent watchmaking.
European art and American technology in one watch.
Revolution
Deployant
The watch has a very useful complication. It is equipped with a motion sensor. When the watch is still for 35 mins, the hands stop. And will revert to the correct time after motion is detected. New this year, in grade 5 titanium. Two versions 40mm (CHF 12,400 set w 2 rows of diamonds) andRead More
Revolution
Revolution
SJX Watches
Watches for ELA brings together a selection of charitable lots within Christie’s upcoming Rare Watches auction on November 9th in Geneva. Proceeds will benefit the European Leukodystrophies Association (ELA), which supports research into leukodystrophies and helps families affected by these rare genetic diseases. François-Henri Pinault, scion of the family that owns Christie’s, is a board member and longtime supporter of ELA. One of the most notable lots is football great Zinedine Zidane’s personal Cartier Pasha, donated as part of his longstanding commitment to the European charity. While his contribution is a watch he has owned for decades, the other watches on offer were created as unique pieces specifically for Watches for ELA. Zinedine Zidane’s personal Cartier Pasha Lot 130 – Atælier Haute Complication Dual Time Art for ELA Vladimir Victor Négault founded Atælier Haute Complication in 2018 after 14 years at F.P. Journe, where his work in the research and development department included building 3D models and animations of the brand’s movements. This was an unusually advantageous training ground for the aspiring independent, who struck out on his own in 2018. Launched in 2022, the brand’s debut watch offered an unusual take on the dual time complication. Its proprietary hand-wound calibre was based on the going train of the proven Peseux 7001, but with a unique bridge architecture and dual time display. The 41 mm stainless steel ELA edition relocates...
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Former Audemars Piguet Chief Executive François-Henri Bennahmias unveiled details of a new watch brand called N3W5 that will launch in late 2027 and draw on some significant names from the Swiss industry for the design, production, and craftsmanship. Called 'N3W5' - an acronym for 'North, East, West, South' and pronounced 'NEWS,' the new marque will launch at Dubai Watch Week next year, the Honourable Merchants Group, the Bennahmias-led luxury brand constellation, said in a statement. Watch prices for the first models will start at about CHF 20,000, and production will commence at 'several thousand pieces' in the first year. A second collection will debut in 2028, according to the company's plans. François-Henri Bennahmias at an event in Crissier, Switzerland, introducing The Honourable Merchants Group. The news of N3W5 comes as pressure and speculation have mounted as to what Bennahmias, who led AP for more than a decade and oversaw a period of spectacular sales growth to more than CHF 2.3 billion for the family-owned brand, would do next in the watch world. At a flashy event near Lausanne last year, Bennahmias unveiled his vision for THMG, a new, multi-brand luxury brand group backed by private investors that promised a new philosophy of work, innovation, products, and sustainability in the luxury space. The charismatic executive said the new group would not be driven solely by profit and that at THMG, "we want to change the world of business. It is a mission," Be...
SJX Watches
Phillips’ spring auction season wraps up with The Hong Kong Watch Auction: XXII on May 30 – 31. As is now the norm, independent watchmakers have carved out a significant section of the catalogue including the usual suspects from F.P. Journe and Philippe Dufour, as well as rare showings from under-the-radar makers like Oscillon and Yosuke Sekiguchi. Lot 878 – Oscillon L’instant de Vérité Despite how hot the indie segment has become, Oscillon has largely stayed under the radar, perhaps due to its intensely cerebral nature, or because the brand only produces about five watches per year. The duo behind the brand, Dominique Buser and Cyrano Devanthey, are collectors of pre-computerised watchmaking machines. Their collection is so extensive that they can produce all movement parts – save for the jewels and shock protection – under their own roof using these machines. Even putting this context aside, the watches themselves are still mechanically interesting. The most striking detail is the bowtie-shaped balance, which is harder to poise and less aerodynamic than a conventional annular balance, but looks much cooler. L’instant de Vérité uses an unusual tensator constant-force spring. To explain this, consider a tape measure. The force required to pull more length from a tape measure doesn’t noticeably increase regardless of the length already paid out. Now imagine hooking the end of the tape to a pulley, so that turning the pulley (winding) pulls tape out, and ...
SJX Watches
A menagerie of exotic movements features in Christie’s upcoming Hong Kong auction, Important Watches: Featuring “Kronos: Titans of Time”, “The Eternity” and “The Chronicle” Collections, from Double Splits and double movements to torque management and monitoring. Lot 2352 – F.P. Journe Chronomètre À Résonance (Brass Movement) While the current iteration of the Chronomètre À Résonance is far more elaborate, using a differential to split the trains — each of which contains its own constant force device — this early F.P. Journe Chronomètre À Résonance with its 18k pink gold dial was much more ambitious in its time, developed by an upstart restorationist from Paris in a market that was hostile to independent brands compared to today. Resonance timepieces, or more accurately, those using coupled oscillators, can be traced all the way back to Christiaan Huygens, also known for inventing the pendulum clock and many, many contributions to mathematics and the sciences. He described the coupling of his pendulum clocks as an “an odd kind of sympathy” and sought to exploit this dampening effect to make pendulum clocks viable at sea, though this was ultimately unsuccessful. It would take more than a hundred years for Abraham-Louis Breguet — often hailed as the greatest watchmaker — to bring this phenomena to a watch, and then almost two hundred more for arguably the greatest living watchmaker to bring it to the wrist. That was, of course, François-P...
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What We Know French watchmaking is on an absolute tear lately. Even setting aside F.P. Journe (yes, he's based in Switzerland, but he is French), there's a growing list of brands pushing things forward in interesting ways. Two of the more relevant names in this case are Baltic and SpaceOne, the latter a collaboration between Théo Auffret of Auffret Paris and Guillaume Laidet, who has played a major role in reviving some major brands. Both have become important players in the more affordable end of independent watchmaking, but from very different angles. SpaceOne leans heavily futuristic, while Baltic—and Auffret more broadly—tend to stay rooted in classic design. That's what makes the new Seconde Majure from Baltic x SpaceOne so interesting. It feels like the watch someone with more traditional tastes, like me, has been waiting for. The Seconde Majeure might not come as a surprise to everyone. Baltic and SpaceOne were showing the watch around during Time to Watches in Geneva a few weeks ago, and they also sent over a prototype for me to preview ahead of launch. One quick note there: all of the photos I took were with the crown pulled out, so keep that in mind as you scroll through. For everyone else, you might need to catch up pretty quickly, especially since the watch is only available for a very limited time. But what you'll quickly see is that the watch is attractive for something affordable. And remarkably compact. Measuring 38.5mm by 12.5mm with a 47.5mm lug-to-l...
SJX Watches
Episode 31 of the SJX Podcast digs into two major industry reports - one from Vontobel on the primary market and one from EveryWatch on the secondary - and what they reveal about where value is concentrating in the watch industry. SJX and Brandon discuss the K-shaped nature of the market, the dominance of F.P. Journe among independents, and Cartier’s remarkable ability to sell across every price tier. The discussion also touches on the role of emotion in driving purchase decisions, the financialisation of the hobby, and why market reports have limited utility for collectors. Listen now on Apple Podcasts, Spotify, and YouTube.
SJX Watches
Independent watchmaker Armin Strom has upgraded its flagship complication with a precious stone dial. The Mirrored Force Resonance Ruby is a five-piece limited edition with a dial cut from natural ruby. Initial thoughts Armin Strom is arguably the second-most prominent watchmaker (after F.P. Journe) to successfully bring “resonance” watches to market. We extensively covered the subject of coupled oscillator watches recently, which examines Armin Strom’s unique approach to achieving this mysterious effect. Within this narrow niche, Armin Strom’s Mirrored Force series is certainly the broadest collection of resonance watches on the market, with multiple movements and many variations exploiting the almost magic coupling between two sprung balances. This new limited edition employs the familiar in-house caliber ARF21, which connects the two hairspring by a long, swivelling blade spring - dubbed the Resonance Clutch Spring. While the movement is certainly well known, this particular iteration of the watch is quite surprising: a thin slice of natural ruby serves as the dial, with all the imperfections and liveliness of a natural mineral. Using a ruby dial is not only aesthetically appealing but poetic for a mechanical watch. The jewels serving as bearings inside every movement are synthetic rubies - a fancy sort of industrial mineral glass. The uneven bright pink and violet shades of the Mirrored Force Resonance Ruby’s dial assure us there is nothing artificial...
SJX Watches
Resonance watches are among the most elusive machines in modern watchmaking. Creations such as F.P. Journe’s Chronomètre à Résonance perform well at auctions, commanding high prices. While their rarity and appeal are undeniable, watches that purport to harness resonance tend to be viewed with a degree of skepticism. A measure of skepticism is understandable - the concept of sprung balances becoming almost magically coupled is anything but straightforward and requires a profound understanding of oscillators in general. This story seeks to shed some light on the concept of coupled oscillators by explaining the two models of coupling and explore the nuances of each system. Before exploring resonance, the reader is encouraged to review the basics of sprung oscillators and isochronism in order to become more familiar with the hairspring and balance wheel model. The F.P. Journe Chronomètre à Résonance Souscription No. 2 sold for more than CHF3 million in November 2025. A confusion of terms First, the term resonance itself requires definition. In classical physics (mechanics, electrical engineering, signal processing, etc.) resonance is a phenomenon where a system vibrates under the influence of an external driving force that matches the system’s eigenfrequency (natural frequency). This is to say that a system at rest, which includes mass and spring elements, can be excited into a state of resonance by an external force when particular conditions are met. An imp...
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