WATCH AFICIONADO 1-19

True Facet and authorized pre-owned

Interview with Tim Malachard, marketing director, on the shift to direct distribution and more. .......................................................p.8

In contrast with Richard Mille, a gallery with more affordable timepieces, from Swatch to Shinola. .....................................................p.16

The American website is the first to launch partnerships with brands including Zenith and Raymond Weil. .....................................................p.28

DR

Democratic watches DR

Richard Mille, the independent way

WATCH.AFICIONADO

A EUROPA STAR GROUP PUBLICATION

WATCH BUSINESS PAPER | USA VOL. 55 NO. 307 | CHAPTER 1/2019 | WWW.EUROPASTAR.COM

EDITORIAL

The second hand takes the lead by

Serge Maillard

Year in, year out, from Christmas to Valentine's Day, and from winter sales to flash sales, the world consumes: watches, jewellery, luxury, ready-to-wear, products of first, second or third necessity. Marketers are continuously innovating in their incentives to consume, through actions such as Black Friday or Singles’ Day on the huge Chinese market (it literally means "Single Sticks' Holiday").

They say the world is shrinking. But the sociology of the watch has rarely been as polarized as it is today.

In the United States, as in Europe, however, consumerism is now expressed in various forms: as far as watches are concerned, many people are choosing second-hand watches, which are cheaper and have a history and, why not, authenticity.

The growth of the secondary market in the West has been boosted by the Internet. Online sales, which are difficult to estimate, already represent several billion dollars a year in this market. The brands, which for

a long time have fed what was until recently called the "grey market" (now more soberly renamed the "pre-owned market") with their production overstocks, want to regain control of this segment, whether through takeovers (Watchfinder, Richemont), partnerships (with True Facet) or by launching their own certified second-hand service, as is the case with Richard Mille – see our interview with marketing manager Tim Malachard on p. 8 – F.P.Journe, MB&F, the list grows longer each week... In this sense, the secondary market is becoming the most dynamic in the West.

In this issue we highlight some examples of the rise of the second-hand market: that of Phillips, the leading auction house whose presence in the United States is growing (see our interview with Aurel Bacs on p. 14) and of True Facet, a second-hand watch platform that has established partnerships with brands such as Zenith, Fendi and Raymond Weil, to launch “authorized pre-owned” sales (see p.

28). This also encourages companies to investigate their own history and archives, as we highlight for Rado and Baume & Mercier in this issue.

The situation is quite different in emerging markets, however, where wealth is more recent: in Mexico, for example, e-commerce and the secondary market are in their infancy.

There, the appetite for disruptive actors such as Hublot or RJ Watches is very much alive, with a booming market for so-called “super watches”, while the mid-range segment remains rather modest in the country (see our report on p. 24).

A segmentation therefore seems to be in operation today between a developed world that is, for various reasons, moving more and more towards pre-owned – and the good deals that can result from it – and a developing world that, with emerging, and not diminishing, middle classes, displays a strong appetite for novelty and experimentation and is not (yet) very receptive to second-hand.

They say the world is shrinking. But the sociology of the watch has rarely been as polarized as it is today, despite (or perhaps thanks to) globalization.

Chanel: where the movement is dictated by style

by

Pierre Maillard

Since making its grand entrance into the watch industry in 1987 with the appropriately named Première, Chanel has succeeded in projecting a unique style, with precise aesthetic codes executed with exemplary consistency. And, unlike traditional Swiss watchmakers, which have historically put the movement in control, Chanel has placed the movement, the mechanism, entirely in thrall to aesthetics. Function follows form. Or, in other words, the movement is dictated by style.

(Read on page 3)

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COVER STORY

WATCH AFICIONADO | 3

Chanel

Where the movement is dictated by style by

Pierre Maillard

Having climbed the rungs of the ladder that leads to what is conventionally called Haute Horlogerie, Chanel has gained acceptance while constantly reaffirming and reiterating its abiding stylistic codes: black, white, geometric shapes, quilting, pearls, the camellia, etc.

This consistency and rigour have made each of its watch models an enduring success. The famous J12, for example, lends itself to all manner of evolutions without ever de-

viating from its strong and elegant personality.

The latest in line, the transgressive Boy∙Friend, demonstrates these qualities anew with the Calibre 3, which was designed specifically to fit inside the existing watch case.

A skeleton watch This autumn, the Boy∙Friend Skeleton Calibre 3 by Chanel was awarded the Ladies Watch prize at the GPHG. Chanel won the same prize

the previous year, for the Première Squelette Camélia Calibre 2. (Chanel has won a total of five GPHG Grands Prix.) So how can we explain two wins, in two consecutive years, both for skeleton-type mechanical watches, for women?

The term “skeleton” is in fact a traditional horological category, for whose introduction we can thank clockmaker André-Charles Caron who, in 1760, was the first person to do away with a dial, the better to reveal the secrets of the movement beneath. The operation known

as “skeletonising” generally consists of hollowing out as much of the movement’s components and structure as possible to produce the greatest visibility, a bit like mechanical lace-making.

In the vast majority of cases, this operation is executed on an existing movement, which is pierced, cut away, lightened and adapted to produce a particular visual setting.

But Chanel, with its Calibres 2 and 3 that were entirely designed and created in-house, took a completely different approach. >

COVER STORY

4 | WATCH AFICIONADO

CALIBRE 3 Chanel manufactured skeleton mechanical movement with manual winding, displaying hours, minutes and seconds. Power reserve: 55 hours.

Water-resistance: 30 metres. Number of components: 114. Number of rubies: 21.

Frequency: 28,800 vibrations/hour (4 Hz). Motor organ: 1 fixed-clamp barrel.

Anti-shock system for the balance.

Variable inertia balance. Functions: hours, minutes and seconds. Skeleton movement: brass bridge and plates with black ADLC (amorphous diamondlike carbon) edging. Beige gold border attained through galvanic treatment.

Function follows form The traditional watchmaker takes the movement as his starting point.

He looks for the best way of skeletonising it, hollows out the components, adjusts its architecture and finishes the movement in accordance with the style he wants to give to the watch. He then makes sure the case fits, and cases up the completed watch. Although this is a remarkable feat in itself, Chanel takes the opposite approach.

Because of its history – the myth of Chanel, its ascendancy over the world of couture, Paris – Chanel has none of this horological baggage. What it does have is the immense legacy of Gabrielle Chanel, brilliantly preserved and enhanced

by Karl Lagerfeld, and its strong and enduring identity.

Chanel takes style, not technique, as its starting point. And it’s up to the latter to adapt to the former.

In this case, it meant that the movement had to be suspended inside the case of the astutely named Boy∙Friend. The collection launched in 2015 has an androgynous style – some have even called it transgender. It’s a man’s watch, intended for women; women who are now as knowledgeable about mechanical watchmaking as men, but who nevertheless prefer not to have their aesthetics overshadowed by technical considerations.

For Chanel's Watchmaking Studio of Creation, which is where every project begins, the skeleton movement had to conform to the octagonal case shape with its truncated corners. It

also had to appear to be floating inside the case. And as no such movement existed, it had to be created from scratch. Throughout this creative process, the inventiveness and artistry of the watchmakers was dictated by design. This process raised several mechanical conundrums, and led to some cutting-edge research. It took three years to complete.

According to the design brief, the movement was not supposed to disappear entirely; it was merely to fade into the background behind three vertically aligned overlapping circles: three circles that gave the structure its design; three circles that represented the watch’s essence – from top to bottom, the energy accumulated in the barrel spring, the hours and minutes, and the small second; three circles that dictated the architecture of the movement.

All the complex interplay of wheels and gears, adjustments and winding had to be built and arranged to fade into the background, to pull back and leave centre stage to those simple but graphically dominant circles.

The movement was built around a linear construction, which meant that all its components had to be redesigned and readjusted. It's black, all its wheels are solid discs, and there are no visible screws. All that is visible, partially revealed behind the circular bridges, is the heart of the Calibre 3: its escape wheel and balance spring. In order to avoid spoiling the view with the oscillating weight of an automatic, this watch is hand wound. When the crown is turned, a diminutive gear train of slim wheels – the only ones that can be seen – springs into action to send energy into the barrel spring.

COVER STORY

BOY∙FRIEND SKELETON 18k beige gold case and bezel. 18k beige gold crown with onyx cabochon.

Beige gold-plated hands. Shiny black alligator strap with 18k beige gold ardillon buckle. Total gold weight: ~37 g. Dimensions: 37 x 28.6 x 8.40 mm.

WATCH AFICIONADO | 5

COVER STORY

6 | WATCH AFICIONADO

BOY∙FRIEND SKELETON DIAMONDS 18k beige gold case and bezel set with 66 brilliant-cut diamonds. 18k beige gold crown with onyx cabochon.

Beige gold-plated hands. Shiny black alligator strap with 18k beige gold ardillon buckle set with 48 brilliant-cut diamonds. Total gold weight: ~37 g.

Dimensions: 37 x 28.6 x 8.40 mm.

Thus, the Calibre 3 appears to be suspended inside its natural setting, sandwiched between two bevelled sapphire crystals. The beige gold case and the black movement with its gilded edges form a single indivisible whole, a vision of lightness and coherence.

The long road to aesthetic coherence But in order for the style to come through and coherence to be achieved, considerable skill is needed, and cutting-edge research must sometimes be undertaken to find the best technical solution. The disc

wheels, designed by stylists, are a good example. They venture beyond mere functionality to play an additional aesthetic role, underpinning the three circles that dominate and structure the design.

It’s not by chance that most wheels used in watchmaking have spokes.

They provide strength and stiffness, and help to keep them perfectly flat.

The disc wheels that characterise the Calibre 3 are difficult if not impossible to execute using traditional techniques, which is why here they have been created via 3D printing, by a procedure known as galvanic growth. It’s a complex technological procedure that has apparently never before been used for watch movement parts.

Another stylistic element that threw up a considerable technical challenge was the finish of the suspended bridges, which are in a harmonious combination of black ADLC (amorphous diamond-like carbon) coating, and chamfered edges galvanised with beige gold. This single element is subjected to two different treatments, which must seamlessly dovetail together. The ultimate aim is that, stylistically, the movement, bezel and case should form a single sculpture, and the shapes should be defined by just two colours – the unusual muted glow of 18k beige gold, against the black surface treatments.

There’s also the diamond bezel that frames the jewellery version of the Boy∙Friend Skeleton Calibre 3.

An immediate success On its introduction at the Baselworld 2018 watch fair, the Boy∙Friend Skeleton Calibre 3 immediately earned kudos for its horological relevance and its confident styling.

It speaks not only to the superlative technical prowess of Chanel’s watchmaking teams, but also to the faultless good taste that defines Chanel’s style and makes it so timeless.

But the most valuable verdict is probably that delivered by those women for whom this witty and sophisticated Boy∙Friend is intended, and who see in this “transgender mechanical skeleton” a formal purity that will never go out of style.

b e i n g

s w i s s

inspired by the past. shaping the future.

More than Swiss Made.

100% Swiss Crafted.

INTERVIEWS

8 | WATCH AFICIONADO

Richard Mille, absolute independence Why this drastic choice?

The brand has stubbornly followed its own destiny in an era of domination by the groups. Richard Mille has paved the way for success by imposing his own tastes, without letting anyone else dictate his strategies. Interview with Tim Malachard, marketing director of this family business. by

Serge Maillard

If we were to list the three “historical” watch brands with the most consistent and successful strategies, we would reel off the names Rolex, Patek Philippe and Audemars Piguet, with an almost Pavlovian reflex. If we had to perform the same exercise looking at the last two decades, for a new actor, Richard Mille’s name would probably be at the top of the list.

It is enough to look at auctions – the best and most revealing benchmark of the desirability and rating of watchmaking companies over time – and not the frenzy of saturation watch coverage we are subjected to throughout the year. At Phillips, which reigns supreme in this sector, Richard Mille is a serious challenger to the historic “Big Three” – alongside another contemporary champion of independent intransigence, François-Paul Journe.

It is not uncommon for a newly acquired timepiece to immediately lose 40% to 50% of its original value as soon as it leaves the store. However, in the booming preowned market, the brand founded in 2001 is one of the few to main-

We have been announcing this development for several years now.

Our concern is really about how we present the brand to customers.

We now have more than 60 models and eight in-house calibres. We are grateful to the retailers, and acknowledge all their work for the brand. But only Richard Mille’s own stores can show a representative sample of our collections, combined with the factor of the availability of the timepieces. This is less the case in a multi-brand environment.

tain or increase its value, with some of its new products even leading to waiting lists comparable to those of a Nautilus or a GMT-Master II Pepsi.

Is this the reason why Richard Mille has taken the drastic decision to no longer be represented by multibrand stores, and instead to concentrate on his network of boutiques, while simultaneously opting out of the SIHH? As the brand was quietly preparing for its last trade fair in Geneva, Tim Malachard, one of the company’s key managers in charge of marketing, answered our questions.

Europa Star: In 2018 you produced 4,600 watches, a figure that is up from 2017. What is Richard Mille’s maximum limit in terms of volume, for you to retain your exclusivity?

Tim Malachard: Every year, we increase our production volumes by 10% to 15%. In 2019, we should therefore reach a total of 5,200 watches. It is difficult to put a maximum limit on our niche: indeed, with an average price of 200,000 francs, we don’t really have a direct competitor or a reference point! We

“We want to be involved everywhere and at all times.”

By withdrawing from a major trade show and multi-brand points of sale, aren’t you cutting yourself off from the watchmaking ecosystem?

Tim Malachard, marketing director of Richard Mille

certainly do not intend to do “volume”. Our quantities are also determined by store openings, such as our recent opening in New York – our largest store in the world to date – as well as Istanbul and Moscow.

Indeed, you announced your decision to withdraw from the SIHH as of 2020 as a consequence of your desire to distribute your models exclusively through your own stores.

An important clarification on this subject: we are not cutting off links with our most important partners.

Our distribution strategy is now based on boutiques that we control directly, or franchises operated by partners, as is the case in Toronto or Monaco today. We also want to take stakes in franchises. We want to be involved everywhere and at all times. What is certain is that we will no longer be present in multi-brand retail stores by the end of 2019.

We remain very close to the industry. I believe, once again, that the case of Richard Mille is really special in watchmaking. Both the Fondation de la Haute Horlogerie and the retailers understand and respect this choice. I have not heard any criticism on this matter. In our own stores, we can train our sales people and take better care of our customers. We control our sales, margins and image directly. In other sectors, Hermès and Louis Vuitton, for example, chose this path a very long time ago.

INTERVIEWS

WATCH AFICIONADO | 9

©PhilippeLouzon

RM 71-01 Automatic Tourbillon Talisman

The largest Richard Mille flagship store in the world opened last year in New York

What role do you give the internet, in terms of controlling your image and your sales?

We have totally ruled out the idea of selling watches online. This is simply not appropriate for our average price. And you cannot reproduce online the emotion of the physical experience, the emotion of the relationship between the human being and the object that is at the heart of our philosophy. But the digital world is obviously a valuable tool for leading customers to our stores. Moreover, I can reveal some surprising statistics: more than 50% of the people who follow us on social networks are between 20 and 35 years old.

Many brands have been hit by their excessive exposure to the volatile Chinese market. How are your sales divided by region?

We have always maintained a reasonable balance of sales: one third in North America, one third in Europe, the Middle East and Africa, and one third in Asia with 10% in Japan. This has not changed since the beginning! We are not dependent on China, a market that represents less than 5% of our sales since we opened our store in Shanghai six years ago. The segment that has evolved the fastest for us in the last four years is that of the women’s watch: with our many launches, its share has risen from 10% to 25% of our sales today, and could eventually reach 35% or even 40%.

Can you give us some details on the state of your research into new materials, a trademark of Richard Mille?

We now work closely with North Thin Ply Technology in Renens.

With them, we have made significant progress in the development of new materials for watchmaking, including TPT® Carbon and TPT® Quartz. We are just at the start of a highway of possibilities. But this research is not only about aesthetics or marketing: we need to combine strength, lightness, durability and ergonomics.

How do you manage after-sales service, which is a source of frustration for many customers in the industry and a potential time bomb for a number of brands?

We have about ten watchmaking workshops around the world.

We have produced approximately 37,000 watches in 18 years. And we try as much as possible to manage strap changes, waterproofing tests and other operations in-store.

It is mainly the tourbillon models that go back to the factory. We cover 90% of all interventions in our stores. After-sales service has always been one of our investment priorities.

Another sensitive point in the industry is “time to market”.

Some time ago, it was possible to introduce a new product at the

“We are not under any shareholder pressure.

We hold our destiny in our own hands.”

SIHH in January and not deliver anything until the end of the year.

Today, customers demand speed, and we have adapted. For example, the model presented at the Geneva Motor Show last March, the RM 1103 McLaren, was available immediately. The same went for the new women’s collection, the RM 71-01 Talisman. The limited edition RM 53-01 Tourbillon Pablo McDonough presented at SIHH 2018, on the other hand, was not delivered until last summer.

The pre-owned watch market is experiencing strong growth. There is growing interest in Richard Mille at auctions and on online sales platforms. How do you manage this phenomenon? Do you consider it a threat or an opportunity?

Some watches, for example the first Nadal series, are no longer produced, so it is natural that they should be found on the secondary market. We are especially pleased that prices remain at the same level as the new models. Our watch-

es are highly valued over time. A large proportion of our customers have acquired between two and three models. As we have produced 37,000 watches, we can therefore estimate the number of our customers at between 10,000 and 12,000 worldwide. These are reassuring figures for such a young brand, which attest to a solid base of aficionados.

en watches during the year, starting at the SIHH.

Do you plan, as more and more watch brands are doing, to buy and restore pre-owned models yourself?

In fact, we have been offering certified, revised and guaranteed preowned timepieces for two years now, at specific points of sale dedicated to pre-owned products. We are already offering this service in Japan and the United States, and we will gradually roll it out to Europe and Asia.

First, we are committed to remaining independent. Additionally, our workshops in Les Breuleux are being extended and we are hiring staff.

Finally, with regard to brand management, several of us are indeed taking on more and more responsibility.

Mr Mille’s and Mr Guenat’s children are already well represented in the company. This is very important, as the “human” aspect of our company pleases our customers and reassures them. It is a fundamental value.

Can you give us a preview of your plans for 2019, both in terms of watchmaking innovations and strategy?

Indeed, what are the advantages of independence, when we have seen more and more watch brands incorporated into the luxury giants?

Our strategy will involve a production capacity of 5,200 watches and the expansion of our network of boutiques, with openings in Beijing, Boston, Vancouver, Mexico City, Kobe and Nagoya. Our London store will be expanded. Their decoration will also be renovated. In terms of products, we will launch about sev-

We are not under any shareholder pressure. We hold our destiny in our own hands. And I believe that this long-term control is all the more important in our price range and segment, which is unparalleled in the industry. We are all passionate about Richard Mille, both in the workshops and on the retail side.

Mr Mille and Mr Guenat are gradually bringing other members of the management team into the spotlight, including yourself. Is this a sign of an ongoing succession?

What are the company’s long-term management plans?

INTERVIEWS

10 | WATCH AFICIONADO

Rado: a futuristic brand explores its past Since his arrival in 2011, Matthias Breschan, who manages this Swatch Group brand, has focused on new formats and materials and mechanical calibres to increase the company’s clout in Asia. Now, he intends to restore the lustre of Rado’s rich heritage. by

Serge Maillard

Last year, Rado introduced new colours to the ceramic-cased watch that is the company’s specialty. Called True Thinline Nature, this series, produced in partnership with the Grandi Giardini Italiani association, reflects the rich colours of the most beautiful transalpine gardens, evoking the earth, water and vegetation. The base powders from which the ceramic is made influence the final colour of the material. They are heated at a very precise temperature in a process called “sintering”.

Another recent innovation has been the introduction in 2016 of silicon nitride in the HyperChrome Ultra Light model (56 grams), which differs from the zirconium oxide powder used for regular high-tech ceramics. This new ingredient, which is processed at around 1,700 de-

What are your main markets today?

grees Celsius, comes from heavy industry, where it is already used in car brakes and other high-temperature applications. Its main characteristic is its lightness, a quality to which everything on the watch contributes, from the silicon nitride case and the ceramic dial to the aluminium bridges and plate.

These innovations, carried out in collaboration with the Swatch Group’s own centre of excellence in ceramic processing, the Comadur company based in Le Locle, clearly define the profile of Rado, a brand that has made materials research a genuine leitmotiv. But the company founded in 1917 also has a rich heritage whose valuation has lagged behind other Swatch Group heavyweights such as Omega or Longines, as CEO Matthias Breschan acknowledges. The objective is now to systematically exploit Rado’s archives and heritage.

They are located in Asia, with China in the lead. Switzerland is also a very important market. The touch I have brought to Rado since I arrived in 2011 has been to intro-

The company founded in 1917 also has a rich heritage whose valuation has lagged behind other Swatch Group heavyweights such as Omega or Longines, as CEO Matthias Breschan acknowledges.

Matthias Breschan, CEO of Rado

Europa Star: Rado recently celebrated its centenary. Is this an opportunity to study your assets in depth?

Matthias Breschan: Rado has always been the Swatch Group’s “futuristic” brand, with a host of innovations such as the pioneering introduction of the sapphire crystal and the use of ceramics since the 1980s, which earned us our title “Master of Materials”. But we are in the process of compiling a wealth of information on the history of the brand. Within two years, we should be making very interesting use of our archives.

You are already introducing some relaunches....

Tradition 1965

We have indeed reissued the Tradition 1965 watch, inspired by the Manhattan skyline, which takes up the tradition of shaped watches such as the Ceramica. We have launched 1,965 watches driven by an ETA C07 movement. We have also introduced another reissue, dating back to 1962: the HyperChrome Captain Cook, a stainless steel model with a rotating bezel that expresses a very sixties aesthetic.

duce more mainstream models, via round formats and automatics, in order to expand our customer base, especially in Asia. In China, we were penalised by two factors. On the one hand, by concentrating on the decoration of quartz models, we had neglected the fact that men buy mechanical watches first and foremost. On the other hand, the old ceramic processing techniques offered little flexibility, hence the predominance of square formats, which are less conventional and characteristic of a certain generation. All this has changed.

Will this strategy ultimately aim to exceed one billion francs in turnover, as is already the case for Omega, Longines and Tissot within the Swatch Group?

This is clearly an objective. China still has enormous potential. Research into our heritage will also contribute to our development. For example, we found a Rado advertisement in an official newspaper of the People’s Republic from the late 1970s. At that time Rado also had a spot on Chinese television called Rado Quiz. Other major markets are still to be explored. In India, for example, we have historically been pioneers, and today we remain leaders in watch sales. As early as the 1960s, Rado bypassed the problem of high import taxes through the creation of local service centres.

INTERVIEWS

WATCH AFICIONADO | 11

True Thinline Bronze

DiaMaster Petite Seconde COSC

DiaMaster High Line

True Thinline Nature Collection

Will the current vogue for vintage see a return to grace for the shaped watches that were so characteristic of Rado, given that the last two decades have been dominated by more classic round watches?

I believe so. Despite the passage of time, the Rado Original has remained one of our best-selling collections since the 1970s. The way we look at watches has changed in recent years, with a strong public interest in the past: being part of a form of heritage is reassuring for our customers. Everywhere we see a return to simpler values, to nature, to sustainability. Today, Rado can work on the strong designs of its history, while continuing to introduce innovative materials. For us, this is the right formula.

“In China, we were penalised by two elements: not enough mechanical movements and the predominance of square formats, because the old ceramic processing techniques offered little flexibility.”

Speaking of innovations, what are the most interesting areas of exploration at the moment?

The DiaMaster Ceramos is one of the most important watches of the moment, with its monobloc case made out of Ceramos™, a material made of 90% ceramic and 10% 10% metal alloy. What is new is that we are now able to carry out monobloc injections. Monobloc ceramic constructions are already used in the automotive and aerospace industries. This opens up the possibility of designing round, light and ultraflat watches. Ceramic has become a “noble” material, acclaimed by high-end watchmaking. Today, we are charting our own path, which is defined by the introduction of new materials, combined with a certain elegance.

INTERVIEWS

12 | WATCH AFICIONADO

Baume & Mercier: a trip down memory lane The Richemont Group’s accessible brand has a new director, Geoffroy Lefebvre. And all you have to do is look at his private Instagram account to understand that the glorious past of Baume & Mercier will soon be back in the spotlight, in this period of “vintagemania”. by

Serge Maillard

Last year, Baume & Mercier impressed many observers with the new Clifton Baumatic line. Its elegant porcelain dial was as striking to the eye as what was in the case, the first “homemade” mechanical movement. This BM12-1975A calibre with silicon escapement was developed with the support of ValFleurier, which is increasingly becoming the “manufacture” of the entire group, after having participated in the birth of the calibre of the Fiftysix by Vacheron Constantin.

In fact, it represents a departure in the history of Baume & Mercier.

As new boss Geoffroy Lefebvre, an engineering graduate and history buff, explains, it had “never been a calibre manufacturer, but was always among the best in the industry where the decoration part was concerned.” But this departure has a meaning, that of offering a top-of-the-range model for the brand, starting at CHF 2,650, without abandoning its more affordable proposals driven by calibres

with road speed pioneers such as the Shelby Cobra and Indian Motorcycle. Will you continue in this vein?

from ETA or Sellita. Quite simply, a new playground is opening up for Baume & Mercier.

We have already exploited these partnerships comprehensively, and we don’t have any new projects in the pipeline currently. I think too little has been said about the history of Baume & Mercier itself.

This heritage may be more obvious in other Houses, but Baume & Mercier has absolutely nothing to be ashamed of. The first thing I did when I arrived was to lock myself up with 200 heritage pieces in Les Brenets! It was the best way for me to “enter” the brand....

“Today, I almost exclusively post vintage Baume & Mercier models on my Instagram account. Putting this heritage back in the spotlight is clearly part of the strategy.”

Behind the mechanics, there is also the will to go back to history.

Paradoxically, this house, founded in 1830, has maintained a relatively low profile in the vintage segment.

Unlike competitor Longines, for instance, which, in addition to its successful classic models, has achieved good results over the past two years with relaunches. Here too, the playground is vast and promises surprises. We met Geoffroy Lefebvre.

What did you discover?

We see watches with incredible design very early on, such as the Complete Chronographs of the 1950s, the Shogun or the Riviera.

Baume & Mercier has never been a calibre manufacturer, but it has always been among those who have best “dressed” the movements. Its Geoffroy Lefebvre, CEO of Baume & Mercier

Europa Star: At Richemont, you managed the manufacturing division and then went through two Haute Horlogerie houses, Vacheron Constantin and JaegerLeCoultre. Your arrival at Baume & Mercier also coincides with loftier manufacturing ambitions, via the first in-house calibre... Is this just a coincidence?

Geoffroy Lefebvre: Yes, because we are absolutely not going to leave our core range, which lies from 1,000 to 4,500 francs. The whole meaning of Baumatic is precisely to offer the best possible quality, a high value for a moderate price. And to do this, we needed a movement made specifically for us. It allows to gain in performance and precision, and it opens up wonderful prospects for small complications. This is the new pillar of our in-house automatic offer, a platform for the future.

This development would probably not have been possible without ValFleurier, which seems to be gaining in power within the group.

Complete calendar chronograph watch, 1950. Historical piece from Baume & Mercier Museum

It is clear that ten years ago, we would not have had the resources to make an in-house movement.

I know ValFleurier very well because I supervised the unit when I was in charge of the group’s manu-

facturing division. With their support, our brand has succeeded in producing a particularly innovative calibre, which ensures a power reserve of five days and an accuracy of around -4 to +6 seconds per day. The watch requires servicing only every five to seven years, as its mechanism is equipped with new oils that are particularly effective against friction. But the most extraordinary innovation is the silicon composite escapement, with optimised geometry, which increases the autonomy by 30% and offers good resistance to magnetism.

Do you also plan to equip other collections with this in-house calibre?

For the time being, no, because we also want to keep our more affordable proposals, such as the Classima, which starts at 990 francs in quartz, or the Clifton Club, from 1,900 francs when equipped with a standard automatic movement.

Thus, our product pyramid is becoming clearer: today the brand needs coherence, and its core lies with the Classima and the Baumatic.

There is no escape from the phenomenon of vintage re-editions in the industry. But Baume & Mercier has chosen to establish partnerships

“We needed a movement made specifically for us. Ten years ago, we would not have had the resources to make an inhouse calibre.” history is first and foremost that of the meeting between a Jura technician, William Baume, and a Geneva dandy, Paul Mercier, who very early on understood the importance of design in wristwatches. Today, I almost exclusively post vintage Baume & Mercier models on my Instagram account. Bringing this heritage back to the forefront is clearly part of the strategy.

Is a stronger presence in China, where Baume & Mercier seems to lack exposure in comparison to some of its major competitors, also part of this strategy?

It is true that our traditional markets are in Europe and North America.

But we have not confined ourselves to those: we have always been an international brand. In this sense, China is clearly a strategic market.

And with 1,500 points of sale worldwide, Baume & Mercier is committed to continuing to work hand in hand with its partners to serve its end customers.

INTERVIEWS

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Frédérique Constant: “Bridging connection and complication” Frédérique Constant has passed the 30 year mark.

With characteristic discretion and a style that is anything but exuberant, the brand recently acquired by the Citizen group has paradoxically broken down many barriers in the industry, whether through affordable complications or connected mechanical watches. We interviewed its new Managing Director, Niels Eggerding. by

Serge Maillard

Europa Star: You have just celebrated your 30th birthday. Would it be possible to start the same adventure today? There are many watch startups on Kickstarter but these often prove to be one-hit wonders, once they’ve raised their funds....

Niels Eggerding: Let’s not kid ourselves: it would be much more difficult. The competition is fierce. We now have 3,000 points of sale. It would be impossible to create this network today. One of our greatest assets today is clearly our network of partners. We have maintained mutual trust at a time when many brands were opening their own stores. This strategy will not change following Citizen’s acquisition.

How do you coordinate your operations with the group?

We operate according to a simple principle: we share nothing in terms

of production and everything in terms of distribution and sales.

Citizen is not directly involved in the functioning of the brand. On the other hand, they have a huge presence in the United States, a market that is still largely unknown to us. Where we are weak, they are strong. The group provides us with financial and commercial support.

Without them, it would be difficult to grow in the current market conditions.

Will you also collaborate with your retailers when it comes to online sales?

Yes, we will also evolve towards ecommerce in partnership with our retailers. In some countries, such as France, we already have a system that includes retailers in the circuit: the customer can choose to receive the watch at home or pick it up at a retailer. The condition for being approved is that sales are made at full price.

However, in the case of Alpina, you sold connected watches directly via Kickstarter.

Operation AlpinerX on Kickstarter was a success. Above all, beyond the sales of around 3,000 watches for a total of 1.5 million francs, it was about data mining: we were able to collect direct feedback from more than 5,000 customers. This is very valuable, as we learned a lot about the profile and expectations of our end customers. However, this operation will not be repeated: it was destined to be a one-shot operation.

“Since 2015, we have produced 120,000 connected watches.

Without this new niche, we would not have been able to grow.”

What is the share of the connected watch in your total production?

Since 2015, we have produced 120,000 connected watches. Without this new niche, we would not have been able to grow. And it is also a powerful communication tool. We continue to work simultaneously on smartwatches, quartz and mechanical timepieces. Frédérique Constant sells a total of 160,000 watches annually. In addition to the connected watches, we have entered the world

Niels Eggerding, Managing Director of Frédérique Constant

of high-end mechanical complications with a perpetual calendar in 2016 and a flyback chronograph in 2017. In 2018, we introduced a tourbillon with a perpetual calendar, as well as a connected watch with a manufacture mechanical movement.

The bridges between all these universes are multiplying.

“With the Citizen Group, we operate according to a simple principle: we share nothing in terms of production and everything in terms of distribution and sales. (…) Where we are weak, they are strong.”

On the production front, what will your new factory in Plan-lesOuates bring you?

Frédérique Constant Tourbillon Perpetual Calendar

We have room to grow. Production at the new site will start in June 2019. This project rewards Peter and Aletta Stas’ continuous efforts: without making a great deal of noise, they have patiently built a solid company that has earned its watchmaking credentials. The manufac-

ture movement surprised many, as did the connected watches. Today, we have 75 watchmakers on site, working on basic Sellita movements, modified Sellita movements and now in-house calibres, which represent 20% of our production.

You offer a very classic style of watchmaking, with rather timeless codes. At the same time, there is great interest in the market for models with a very strong personality, often reissues from the 1960s and 1970s.

Heritage is an important subject: without wishing to give too much away, I can already tell you that I am working on our heritage for the preparation of a future new collection. For any watch brand, it is much easier to work on past successes that have already proved their worth. But we are still relatively young compared with the industry as a whole.

Some of your direct competitors, such as Raymond Weil and Maurice Lacroix, have decided to miss the Basel fair in March. What about you?

We need Baselworld, it’s an annual industry meeting and a ritual that is very important to us.

INTERVIEWS

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Aurel Bacs: “Brands have shifted from rejection to acceptance” cused you of competing with them; is the competition reversing itself?

The most famous watch auctioneer in the world explores the radical change in the attitude of most brands when it comes to the secondary market, which is booming while sales of new watches are stagnating. If brands are rushing to enhance the value of their historical assets, it is because they now have a clear understanding of where their economic interests lie. by

Serge Maillard

Anyone who attended the last watch sale of 2018 organised by Phillips, “Styled”, in New York, would have understood immediately the extent to which the secondary market has become the real meeting place for watch aficionados. One could sense the enthusiasm and almost physical thrill that are too often lacking during the larger, more formal events organised by brands. It is here that the living, beating, public heart of watchmaking is at its best.

Paradoxically, then, an industry that is trying to look to the future needs to turn to the past to find the freshest, most dynamic and modern image of itself. After all, watchmaking is a matter of time... And time is the ruthless master that will judge the few models that will go down in history, those that will fall under the hammer of Aurel Bacs, setting them apart from the ephemeral existence of most timepieces.

Things have come a long way indeed since the first major thematic auctions organised by Osvaldo Patrizzi in the 1990s. A Phillips sale has become the most visible and prestigious face of a revolution, that of the second-hand watch. Here, collectors’ models often increase their initial value tenfold, while far away, in

No. On the contrary. All these initiatives are complementary, as they give confidence to the market.

Imagine that thanks to the efforts of a manufacturer, its vintage timepieces experience a 10% increase in value. And that one in ten vintage watches no longer comes to us, because they take care of it. With the nine pieces I have left, at 10% added value, I’m compensated for that tenth watch.

the darker corners of the internet, watches change hands for a tenth of their marked price. These are different planets of the same bubbling universe, one we are looking at with increasing interest.

Aurel Bacs shares with us some thoughts on the evolution and possible future of this universe.

Do brands use your services to recover their heritage?

The brands consult us to find out more about the auction market, the community of vintage collectors and their reasoning. Brands have asked us the following question: “We have launched a new product that is waterproof to 100 metres, accurate, reliable, SuperLuminova, guaranteed for two years, priced at 10,000 francs, and a collector pays you 30,000 francs for the same model from the 1950s, which is no longer under warranty, which is smaller, perhaps a little damaged: explain it to us!”

Europa Star: Alongside the launch of the Apple Watch and the fantasies it fosters, vintage watches are doing better than ever. Why? Aurel Bacs: I remember when the Apple Watch arrived, we thought it might be once again, as it was in the 1970s, a sign of a weakening of the mechanical watch. But there is one difference – and it is significant: the debate surrounding the “quartz crisis” was about performance. However, today I don’t know anyone who buys a vintage watch for its performance. People buy it because it is a work of art on the wrist. If I had to give you one word to help you understand watchmaking today, it would be “culture”. And by that, I mean intellectual, emotional and aesthetic stimulation. In the same way, we don’t drink a vintage wine just because we are thirsty, or choose a painting just to cover a white wall!

Aurel Bacs, Senior Consultant at Phillips in association with Bacs & Russo

So you’re saying that, paradoxically, the Apple Watch has actually enhanced the appeal of vintage watches?

I’m grateful to Apple for the launch of their smartwatch, because it’s far easier to appreciate things when they’re set in contrast. We enjoy a cold drink when it’s hot and a hot drink when it’s cold. We have seen an extraordinary rejuvenation in our industry. The new generation wear cheap T-shirts and use disposable phones, and that’s why they’re looking for “content” - I hate the word storytelling, which is closer to fantasy in my eyes. A watch, like a sculpture, is a three-dimensional object. But a vintage mechanical watch also has a fourth dimension: the origin, the history, the uniqueness, the patina, the age...

According to your estimates, what is the size of the global secondary watch market?

conflictual. Today we are working together, because we have all understood that a brand that is proud of its past can neither deny nor ignore its history. Many brands are making extraordinary efforts and significant investments to promote their past.

We can talk in billions of francs.

It’s impossible to find that number. In real estate, it is much easier because there is the land registry. For cars, we can base ourselves on changes to the registration documents. In watchmaking, we have nothing!

So their attitude towards you has changed?

Can we expect to see new auction records? And what room is there for outsiders, alongside the dominant duo of Rolex and Patek Philippe?

How, in your opinion, have the brands’ attitudes evolved in terms of how they manage their heritage?

Today, when we call a factory, we are very well received, unlike twenty years ago! The reaction is immediately: “Mr Bacs, how can we help you? The archives, pictures, an opinion, advice?” We also see more and more brands promoting their vintage collections on social networks. You can’t be proud of a Speedmaster, an Aquatimer or a Memovox and say simultaneously: don’t tell us about our past! I think we’re seeing in contemporary collections that this dialogue also appeals to brands.

I see a huge change. A few brands certainly do not need to change: the Stern family has been embracing its heritage with Patek Philippe for forty years. But most brands, until twenty years ago, considered vintage watches, auction houses and myself to be a disruption, even

The trend is so strong that brands are starting to do your job for you!

Whether it is Vacheron Constantin with its Hour Lounge programme, MB&F, F.P. Journe or Breitling, brands are now buying up vintage models, restoring them and selling them... Twenty years ago, they ac-

I really don’t see any wristwatch on the horizon that could beat the record of 17 million francs established by the Rolex Paul Newman in 2017. Today, we know about 95% of the great Rolexes, about 95% of the great Patek Philippes. I’m not saying that we have reached saturation, but when an average Daytona auctions at over 100,000 francs, I understand that there are collectors who can no longer afford to follow the market, or maybe their wives are starting to put pressure on them!

This is one reason why we are seeing the emergence of vintage models from Zenith, Heuer, Omega, IWC, Tissot, Jaeger-LeCoultre and Longines. With this phenomenon, in the end, the polarisation of sales will decrease, in my opinion.

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Democratic watches The average price of the award-winning watches at the Grand Prix de l’Horlogerie de Genève (GPHG) is CHF260,000. True, this astronomical sum is greatly boosted by a handful of watches costing up to a million Swiss francs or even more. But even so! While that represents the absolute top shelf in watchmaking, it is not, by a long chalk, representative of the watchmaking sector as a whole.

Alongside these exceptional, ultrapublicised pieces reserved for the famous 0,1% of Earthlings, there exists a much more accessible type of watch, often fun and inventive, and affordable by a larger number of people. A democratic watch.

If the watchmaking industry as a whole is to live, the democratic watch sector must thrive.

Let us not lose sight of the wood, with its multitude of different species, for the top-end-of-the-market trees. This vast horological forest is a reservoir of biodiversity without which the watch industry would wilt and ultimately share the same unenviable fate as music boxes: an art which is magnificent in itself, but totally outdated. The trees and the wood need one another in order to flourish.

The average price of the watches presented here is around CHF1,500. A democratic price, we could say. But let us still not forget that what some judge affordable is still inaccessible to many. If the watchmaking industry as a whole is to live, the democratic watch sector must thrive. (PM)

SWATCH SPOT MICKEY

by Damien Hirst - Out of stock The famous, virtuoso British artist Damien Hirst pays a brilliant tribute to Mickey Mouse, born on 18 November 1928. With a few coloured spots, he has reproduced an instantly recognisable figure. And at the same time given a huge boost to Swatch. This 30-something year-old watch is in fine fettle. These two limited editions, one of 1,999 pieces and the other 19,999, were both sold out in a matter of hours. CHF120.

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SHINOLA MICKEY CLASSICS COLLECTION Mickey Mouse is certainly inspiring watchmakers these days. As a tribute to the famous mouse, Detroit-based Shinola is offering five limited editions (of 90 pieces each) and a special edition of its best-selling Runwell models. The five limited editions, designed by artist Jeff Shelly, are directly inspired by some of Walt Disney’s best-known cartoons and come with an original, framed drawing. These collectors' items are retailing at US$2,000. As for the special edition, it is on sale for the price of US$800. Quartz movement in partnership with Ronda.

RALPH LAUREN POLO BEAR Ralph Lauren has a predilection for bears, and you’ll find his embroidered Polo Bears printed or sewn onto ties or pullovers and goodness knows what. Now the plantigrade is moving into watches, with Flag Bear, Martini Bear, Preppy Bear and Spectator Bear. “Each one is inspired by outfits that Ralph Lauren himself wears,” we are told.

With their 42mm steel case, automatic mechanical movement and careful finish, these Polo Bear watches retail from US$1,950.

GUCCI DIVE The head of a cat – an animal renowned for not being over-fond of water – is a curious choice to place at the centre of a diving watch when you think about it. But perhaps that is just one more sign of the overtly disruptive style of the brand, which remains as affordable as ever. 40 or 45mm diameter steel or yellow gold PVD-coated case, rubber strap, ETA quartz movement, waterproof to 200m. CHF1,350.

TIMEX MARLIN SNOOPY AUTOMATIC Snoopy, the philosophical canine dreamer created by Charles M. Schulz, seems to be waiting for time to pass on this silvery dial by Timex. Inspired by the 1960s Marlin model and fitted with an automatic movement of the same name, this mechanical watch with its transparent case back is on sale for the record price of US$249.

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ANONIMO MILITARE CHRONO VINTAGE

TISSOT ALPINE ON BOARD Quartz-powered or mechanical, the Alpine On Board is a dual-use watch: you can wear it on your wrist or place it on the dashboard of your Alpine car in a special holder attached to the car’s multimedia screen.

A niche product? Certainly, but also one way of showing that watchmaking has its own ways of combining instruments and design. The automatic chronograph model is equipped with a beautiful Valjoux movement and sports a vintage, but not nostalgic, look. The three-hand quartz model is more contemporary in style and is very legible once inserted into the dashboard support.

Automatic €1,950 – Quartz from €460.

ETERNA KONTIKI BRONZE In bronze, with a unidirectional rotating bezel and, this year, a very beautiful grained and textured green dial, the 44mm Kon Tiki comes in limited edition of 300. Waterresistant to 200m, this diving watch has a manually wound in-house mechanical movement with a power reserve of 65 hours. A very beautiful timepiece priced at CHF3,100.

Whether in its “Panda” version – eggshellcoloured dial and two black-rimmed subdials – or “Newman” – colouring reversed – the Militare chronometer from Anonimo has conserved one of its trademark features: the crown at 12 o'clock. Both robust and pared-down, with its 12/04/08 dial and its interior railtrack minute scale, this model comes with an automatic movement and a chronograph module specifically developed by the renowned Dubois Dépraz. Sporting an imposing 43.4mm cushion case and mounted on an aged calf-leather strap, the Militare sells at CHF3,890.

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MIDO OCEAN STAR DIVER 600 Perfectly designed, water-resistant to 600m, with a helium valve and powered by the COSC-certified 80SI chronograph calibre with a silicon balance spring, and offering 80 hours of autonomy; further equipped with a crown mounted on a ceramic bezel and engraved with Super-Luminova-filled indices, this highly legible diving watch has all the professional characteristics required to offer a quality/price/performance ratio that probably only an industrial group like the Swatch Group can provide: CHF1,590.

ZRC NORTH ADVENTURE

ORIS BIG CROWN POINTER DATE For its 80th anniversary, the pilot’s watch from Oris – the origins of which date back to 1938 (a historic date) – is made in bronze and ornamented by a deep green dial with a bubble-domed crystal to beautiful effect. With its large crown and date-pointer hand with the inverted red crescent, it seems to have aged not one whit. Waterproof to 50 metres, moderately dimensioned – 40 mm – it is equipped with the excellent automatic Oris 754 movement and retails at a price of CHF1,900. A bargain price for an icon.

CALVIN KLEIN ACHIEVE A contemporary reinterpretation of chronographs from the now vintage 1970s, the Achieve, acclaimed by the brand as "charismatic", is robust, thick and generously dimensioned: the steel case measures 43 x 49.75mm. This quartz chronograph, waterresistant to 50m, has plenty of character and comes with a two-year guarantee. Retailing at the record price of CHF339.

“My equipment is a matter of life and death, and this watch is an essential part of that. For me, it's a practical tool. I can use it as a compass when the sun is out, a calendar whenever I want and a light when I go diving,” says ice diver and adventurer Alban Michon. Inspired

by ZRC’s Grands Fonds model launched at the start of the sixties, this special version was designed in collaboration with the explorer.

It's modest in size, at 40.5mm, but has oversized hands and a large Superluminova regulator. The famous crown at 6 o'clock still appears in this model, and the ETA 2824 movement has been reworked to ensure that it’s still reliable at negative temperatures. The watch also has a uni-directional notched bezel, a reverse winding mechanism and an automatically adjustable “diver” strap. The watch is reviving the great tradition of tool watches.

It’s also totally affordable at €2,790.

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ALPINA ALPINER X Equipped with five sensors, the AlpinerX offers a whole series of functions divided into three categories: Environment, Body, Time & Notifications. The first includes nature-related tools, such as an altimeter, barometer, compass, UV-index indicator (a watchmaking first), thermometer and GPS receiver connected to the app. The second group of functions measures activity and sleep, for example, offering dynamic coaching on the basis of the data as well as smart alarms. Lastly, the Time & Notifications segment guarantees innumerable time-recording options, notifications, a world time function and the possibility of saving data to the cloud.

The fibreglass case with a stainless steel back measures 45mm in diameter; the dial is a classic analogue design encircled by a 360° turning compass bezel. While indicating the hours and minutes, the hands (which are also luminous) sweep to the upper part of the screen if necessary to reveal the information displayed on the digital screen when activated. Shock-resistant and water-resistant to 100 metres. Available for iOS and Android, starting at CHF895.

APPLE WATCH HERMÈS DOUBLE TOUR SERIES 4 Adorning the new Apple Watch Hermès Series 4 are leather, tricolour straps in an unprecedented array of colours made possible by the Hermès artisans' mastery of the art of trimming and reverse stitching. The new, bi-colour dial dreamed up by Apple and Hermès, which matches the colour of the strap, also lends colour to time: as the minute hand turns, so do the colours on the dial. It’s the colours that show the time. Available by order on hermes.com and apple.com, and in a selection of Apple stores and Hermès stores in Germany, Australia, Canada, China, the United Arab Emirates, Spain, the United States, France, Hong Kong, Italy, Japan, United Kingdom, Singapore and Switzerland. CHF1,445.

TAG HEUER CONNECTED MODULAR TAG Heuer is continually adding models to its Modular collection of smartwatches that let you customise the strap, lugs and case and even add a module with an automatic movement. The latest models include a removable 45mm module in sand-blasted grade 5 titanium coated in black titanium carbide, with a black matte-finish ceramic ring on the bezel and a microphone at 3 o'clock; the module is mounted on a matte black ceramic strap. Compatible with Android and iPhone. CHF3,250.

Another model, 41mm this time, with a grade 5 titanium case coated in black PVD, a fixed bevel and black ceramic lugs, with a black matte-finish mesh ceramic strap with H-shaped links is priced at CHF2,950.

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IKEPOD

KLOKERS KLOK-01

Created in 1994 by Olivier Ike and Marc Newson, Ikepod was a stylistic trendsetter, notably with its characteristic Hemipode models. This innovative brand went through tough times, repositioned itself at the high end of the market, then from 2012, when Marc Newson moved on, entered a phase of suspended animation. After changing hands in 2017, the brand is back. The cases, crowns and pushbuttons have remained visually identical, but the dials have been entrusted to Emmanuel Gueit, a designer known primarily for his work on the Royal Oak Offshore from Audemars Piguet.

Relaunched via Kickstarter, these watches have remained true to their innovative spirit, but at a much more affordable price: from €500. Shipping from May 2019.

Recently crowned with the 2019 German Design Award, the KLOK-01 is the brand's first model (it has released others since), launched in 2014 by Nicolas Boutherin and Richard Piras. With the KLOK-01, it is not the hands that turn but three dials – one for the hours, one for the minutes and one for the seconds – that rotate in an anticlockwise direction. A mix of watchmaking expertise, fashion and style, of Swiss precision and French design, Klokers is tracing an unusual path, counter to conventional codes.

The strap mounting system means that all Klokers products are independent, compatible and interchangeable. From €468.

NOMOS ACE X NOMOS CLUB CAMPUS AMSTERDAM LIMITED EDITION

JUNGHANS MEISTER TELEMETER In 1951, Junghans united telemeter and tachymeter features in a chronograph for the first time. The central second hand made it possible to measure both average speed and distance. More than 67 years later, Junghans is presenting a re-edition of this sophisticated-looking watch. Highly legible, it looks not the slightest bit dated. 1830 self-winding movement with a small-seconds dial, 40.8mm steel case with a screwed glass case back, convex Plexiglas with scratchresistant coating. Water-resistant to 30m.

CHF1,990.

In collaboration with Ace Jewelers in Amsterdam, Nomos presents a very beautiful limited edition of its Club Campus Nacht, a 38.5mm steel mechanical watch equipped with the manually wound Alpha in-house movement. In the Amsterdam version mounted on a grey velvet strap, the anthracite dial is highlighted by red indices picked out by a thin white line, and a red seconds hand. This is a nod to the Amsterdam flag, and the overall effect is highly aesthetic. Retailing at €1,400 including tax.

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SEIKO PRESAGE URUSHI BYAKUDAN-NURI LIMITED EDITION A new creation in the Presage collection of fine mechanical watches once again takes its inspiration from Japan’s everlasting fascination with the moon. This new limited edition uses one of the most elaborate lacquer techniques of all, Byakudan-nuri, as well as traditional Urushi, to portray the rich tones of the sky and moon just before dawn.

Byakudan-nuri is a technique that has been used for centuries to decorate Urushi lacquer and, because of the complexity of the craftsmanship involved, was reserved exclusively for use in places and on objects of high status, including temples, shrines and on the armour of Shogun warlords.

The Presage Urushi Byakudan-nuri Limited Edition in steel is available since early December in selected Seiko outlets worldwide. Just 2,000 will be made and each is offered with its own serial number and in a specially designed presentation case. €2,500.

OCHS UND JUNIOR ANNUAL CALENDAR An annual calendar watch accounts for months with 30 or 31 days. The date therefore only requires manual adjustment once per year on March 1st. Conventional annual calendar watches display the date, month and weekday using text and numbers. They have annual calendar functions which are implemented using levers and springs and comprise many parts (Patek Philippe’s uses 154).

Dr. Ludwig Oechslin chose to display the date with analogue dots in order to put the time at the top of the watch’s visual hierarchy, and make the date readable from the same distance as the time. Oechslin invested 3 years developing a new annual calendar function comprising just 3 additional parts, because fewer parts mean fewer interactions and higher reliability. All functions can be set simply using the crown.

Ochs und junior manufactures about 40 annual calendar watches per year. Each watch is sold directly by cofounder Beat Weinmann from the Ochs und junior workshop in Lucerne, Switzerland. From CHF7,400, a real entry-price for such a clever complication.

BAUME & MERCIER CLIFTON BAUMATIC COSC LOUIS VUITTON TAMBOUR WORLD TOUR Inspired by Gaston-Louis Vuitton’s historic collection of luggage labels, the dial of the Tambour World Tour displays these travel stickers on a Monogram or Damier Graphite canvas background. Four models in steel, with easily interchangeable straps and powered by a quartz movement. A colourful, fun watch. €2,300.

Launched at the 2018 SIHH, the Clifton Baumatic is coming along nicely. Elegant, understated, well-designed, and powered by an automatic movement with a silicon balance spring and COSC-certified Powerscape escapement (accurate to -4/+6 seconds a day, individual certificate provided on demand), it offers a respectable power reserve of 120 hours (5 days). Impeccably finished, “requiring no service for at least five years” and affordably priced, the Clifton Baumatic has no lessons to learn from anyone. CHF2,850.

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EMILE CHOURIET SOLEOS A three-dimensional dial with silvery white highlights, a sunburst motif extending all the way to the diamond indices, blued hands, a crenelated crown – everything in this watch design evokes the sun that gives it its name. Sapphire case back, ETA self-winding movement. Date at 3 o’clock, water-resistant to 30m, sapphire crystal. Available in 40mm and 29.5mm. Unbeatably priced, starting at CHF1,190.

HERBELIN DUO The velvety silver of the dial highlighted by elongated Roman numerals lends purity and sobriety to this new timepiece in steel with a yellow gold PVD coating. Apart from the date subdial at 6 o’clock in the men’s model and the diameter of the cases (28mm for hers, 38mm for his), these two watches are identical, symbolising “the complicity of souls”. Quartz movement. €530.

BASTIAN ANTONI TURBULENT The Turbulent is the introductory timepiece from Bastian Antoni, a new brand founded by two men with a passion for design.

45mm in diameter, in stainless steel with a transparent back, a domed sapphire crystal and a sunray-patterned dial with an aperture revealing the balance of the automatic Swiss made SW200-1 movement. The stated ambition of this new player is to offer “the best possible quality for price”. Which is: US$930.

MONFORT BRUCE Montfort Watches presents the first automatic watches with 3D-printed dials in stainless steel. By using 3D printing, they have succeeded in creating a pyramidal texture inspired by the classic Clous de Paris finish at an affordable price – this is a technique that offers unlimited potential for expression. The finish of these dials lends them an almost mineral appearance. It took Montfort and the Digimetal company two years to achieve this result, using a technology known as binder jetting, which uses a special glue to solidify the metal powder in complex forms. The dial is strengthened and made rigid by sintering. The four-piece case is made from hardened stainless steel.

CHF1,990.

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Mexico, an unconventional watch market to Mexico. “As of now, I only deal with independent watchmakers,” says the man who just added De Bethune to his catalogue. “We try to support them as much as possible, because we love this very creative watchmaking. Every year, we also invite a new brand to SIAR, like Le Rhöne last year or Rebellion two years ago.”

A new wave of luxury

The L.U.C Perpetual T Spirit of ‘La Santa Muerte’, a unique piece by Chopard for the SIAR, sold in just six minutes

Its ranking in the official Swiss watch export figures does not reflect its real potential for fine watchmaking and independent brands.

The SIAR exhibition in Mexico City is the get-together of local collectors particularly focused on the most audacious timepieces. by

Serge Maillard

Two of the most famous models in the history of the watch industry can trace their names back to Mexico.

The TAG Heuer Carrera, launched in 1963, was named (just like a famous Porsche) after a car race that took place in the early 1950s, the Carrera Panamericana, which was particularly risky for the pilots as well as spectators. Well before that, in 1884, Girard-Perregaux’s La Esmeralda became the namesake of a watch store in Mexico City: this pocket watch with tourbillon and three gold bridges, the brand’s signature, won the gold medal at the Paris Universal Exhibition five years later and was acquired by then Mexican leader, the authoritarian general Porfirio Diaz.

A key market for brands such as Hublot, MB&F and RJ Watches, the country is a fertile ground for the “new watchmaking” of the 21st century. Ranked 19th among the global destinations for Swiss watches (with

exports reaching an annual value of nearly 200 million francs), Mexico would undoubtedly be several places higher if we looked solely at Haute Horlogerie... even more so if we focused on the SIHH’s Carré des Horlogers!

“Mexico is the number one Latin American watchmaking market, by a considerable margin. It is as important as Brazil, Argentina, Uruguay, Venezuela, Colombia and Peru combined,” says Juan Carlos Suarez, Audemars Piguet’s General Manager for Latin America.

The gang of four Four men in particular have contributed to the emergence of a distinct Mexican watch culture since the 1990s: retailers Ari Berger and Luis Peyrelongue, distributor Ramón González, and publisher Carlos Alonso. “When I started in 1988, we simply couldn’t import watches into Mexico, as brands had

“The last ten years have been frenetic for watchmaking. Many brands have established themselves here since customs tariffs were lowered. And Mexicans buy much more in their home market.”

Ari Berger, retailer to justify local production,” recalls Luis Peyrelongue, whose grandfather had the exclusive rights to distribute Rolex in the country (his competitor at the time was the fa-

mous Esmeralda boutique). In order to meet this requirement, the leading brand had its bracelets manufactured in Mexico.

Ari Berger, director of Berger Joyeros, comes from a family that specialised in gemstones in Europe, before emigrating to Mexico City in the 1940s. “The last ten years have been frenetic for watchmaking,” he says. “Many brands have established themselves here since customs tariffs were lowered. And Mexicans buy much more in their home market.” Today, watch prices are comparable to those in the United States. Only VAT is applied, at a rate of 16%.

“We are all of the same generation, Ari, Luis, Ramon and myself,” explains Carlos Alonso, editor of Tiempo de Relojes and organiser of the annual SIAR exhibition.

“A whole generation determined to change traditional business!” When the Spaniard arrived in Mexico in 1994, the revival of the mechanical watch was starting to gain traction all over the world: “I was in the right place at the right time. Customers wanted more than Rolex, Patek Philippe, Cartier and Omega. The interest also shifted towards new independents such as Franck Muller or Michel Parmigiani.”

Ramón González, CEO of the Raconli group (for a long time the distributor of Audemars Piguet in Mexico, until the brand took direct control), introduced Franck Muller

The signature of a free trade agreement with the European Union in 1997 and then with the EFTA countries (including Switzerland) in 2000 was a turning point for the development of the watch and luxury industry in the country. “A new wave of luxury brands has arrived over the past decade,” notes Stéphanie Martinez, Montblanc’s Mexican market manager. “The increased supply, as well as the appreciation of the dollar, has pushed consumers to buy more and more locally.”

Carlos Alonso points out another important factor: “Mexico is the only Latin American country with stable macroeconomic conditions, not suffering the same upheavals as Argentina, Brazil, Colombia and the Venezuela. Since 1996, annual inflation has been rather low, almost at the level of Western countries.”

The result has been the emergence of major collectors in the country.

“People here are Latins, impulsive in their purchases, passionate! The world’s second largest collector of Piaget timepieces as well as one of the world’s most important collectors of minute repeaters live in Mexico City,” Carlos Alonso explains.

Knowledgeable collectors Marco Tedeschi, manager of RJ Watches, is also familiar with this market, since it is home to his brand’s most important collector. Mexico is among the top three markets for RJ Watches. “We produce timepieces for customers looking for original products,” explains the CEO. “Gold timepieces work well, as do large sizes, at 48 mm or 50 mm. It’s a very masculine market, even though we launched our Hello Kitty model in 2017 at the SIAR!” The brand has devoted entire series of its models to Mexican culture, with its Día de los Muertos and Lucha Libre watches.

Even though the slowdown in the industry since 2014 pushed the biggest retailers to focus on their most important brands, Carlos Alonso believes that “there is still room in Mexico for independent Haute Horlogerie brands.” The number of small watch companies exhibit-

MEGACITIES & HUBS ing at the last edition of the SIAR in October 2018 is a good sign. As is the considerable interest surrounding Ferdinand Berthoud, KarlFriedrich Scheufele’s watchmaking project. Although it produces only a few dozen models per year, it won the jury prize for its FB1 Malaspina unique piece (named after an 18th century explorer of the Americas).

Elodie Thellier, General Manager of TAG Heuer for the Caribbean and Latin America, who also attended the event, shares this enthusiasm: “The Mexican market has the particularity of being very knowledgeable in terms of watches. This is one of the countries where we sell our most expensive productions.” Several dozen TAG Heuer tourbillon timepieces have already been sold there.

Christian Konrad, President of Bulgari for Latin America and the Caribbean, appreciates this market for its “risk-taking” collectors, who dare to think outside the box: “Our Octo Finissimo model, with its unconventional format, works very well here. Breaking the codes is rewarded. It’s very pleasant to work here, because you can push your limits in a market that is not at all traditional or conservative, unlike some of the others!”

The importance of limited editions No wonder, then, that a brand as polarising as Hublot receives a warm welcome. The architect of its development in the region is Rick De La Croix, based in Miami with

WATCH AFICIONADO | 25

“If Patek Philippe doubled the number of its most desired timepieces it sent to Mexico, it would double its sales immediately.”

Carlos Alonso, publisher his group Ares Distributors, which specialises in the distribution of luxury products in Latin America.

“Hublot’s sophisticated sports style fits well with Mexico, which is not a classic market,” he explains.

“We target collectors through VIP events: for example, we brought more than 100 guests from Latin America to the World Cup in Russia.

What is also key is the creation of limited editions.” Hublot is already a recognised champion in this do-

Montblanc 4810 ExoTourbillon Slim Limited Edition Mexico

RJ Watches Día de los Muertos collection in collaboration with tattoo artist Xam, author of the “Sugar Skull”

main, producing several series each year dedicated to the Latino culture.

Zenith, another brand in the LVMH group, has benefited from the “modernisation of the collections over the past two years,” according to Julien Rolao, brand manager for Mexico.

“We already sell a majority of Defy models there. And the average purchase price is high, based on international comparison.”

Not surprisingly, Rolex dominates the Mexican market. Patek Philippe, on the other hand, is not as present as one might imagine... mainly because of product availability, as Carlos Alonso points out: “If Patek Philippe doubled the number of its most desired timepieces it sent to Mexico, it would double its sales immediately.” Ari Berger expresses this differently: “The biggest challenge for us is the waiting lists: the issue is not selling them but actually getting the product from Switzerland!”

The core group of major collectors reflects both the potential of the Mexican market – for Haute Horlogerie and for independents with extravagant creations – and its limits, with a middle class that is struggling to emerge in this country of 130 million inhabitants. “There is a particular bias towards Haute Horlogerie,” confirms Carlos Alonso. “It’s not a big market for entry-level or mid-range.”

In a more affordable price range,

Mido (Swatch Group) benefits from historical strength in Mexico.

No e-commerce, no secondary market Another major challenge is the security of points of sale in a country plagued by violence and arms trafficking linked to drug cartels. This issue partly explains the geographical coverage of luxury, with independent retail stores concentrated in the ultra-chic and secure district of Polanco in Mexico City, while the bulk of the luxury market is operated via major shopping centres such as Palacio de Hierro and Liverpool.

“All our points of sale are located in shopping centres,” says Christian Konrad at Bulgari. “This gives our customers a degree of discretion, because you can’t know they’re coming out of a jewellery store.”

Looking ahead, what are the main drivers of growth for the Mexican watch market? Surprisingly, while e-commerce is making waves everywhere else, particularly in the United States, it is not yet a hot topic in Mexico. “We are pioneers since we have had a local online sales platform since 2017,” explains Stéphanie Martinez at Montblanc.

“But there are a number of complications: banks often reject credit cards and logistics remains complex.”

Beyond the physical constraints, Marco Tedeschi of RJ Watches believes that online sales are “simply not part of the buying experience in the Mexican watch culture, where the personal relationship is essential.”

The secondary market, which is booming in Europe and in the United States, does not carry much weight in Mexico either. Carlos Alonso offers the following analysis: “In the West, there is a form of economic maturity and a level of ‘fatigue’ where consumption of new products is concerned. There is a preference for vintage timepieces, associated with both a better price and a certain authenticity.

On the other hand, in developing countries, where wealth is more recent, the focus is on the 0-kilometre car, new complication timepieces, first-hand.”

More than half of the Mexican population is under 35 years of age, and we were struck by the youthfulness of the public when visiting the SIAR. “It is this future generation that will continue to develop watchmaking organically,” says the publisher. The women’s watch market is also far from reaching its full potential. “Worldwide, women’s models account for an average of 30% of our sales. In Latin America, this rate is down to 20%,” says Elodie Thellier at TAG Heuer.

PORTRAIT

26 | WATCH AFICIONADO

Georges Dubois: the oldest watchmaker in the world Text: Pierre Maillard Photos: Guillaume Perret / Lundi13

Born in 1921, Georges Dubois still lives in the small house bought by his father in 1923. Around the age of 15, not knowing what do in life but needing to “earn a bit of money”, he began working for a leather strap manufacturer and delivered the straps to the watchmaking workshops. “I saw all these watchmakers bent over their workbenches with their loupes in their eyes and frankly, I wasn’t impressed.

That wasn’t for me.” He wanted to become a confectioner, but didn’t like working nights. But watchmaking soon caught up with him.

He was interested in mechanics but due to a lack of places was forced to enrol in a preparatory course at the École d’Horlogerie. That’s when it clicked. “I loved it immediately, the calmness, the serenity of it, and the friendship between the watchmakers, like between bikers. We’re bound together by precision, passion and concentration,” he comments with a twinkle in his eye.

He graduated brilliantly in 1941

and was engaged by Rolex. “There were 17 of us in the workshop, we had one week’s paid holiday a year and I earned CHF150 a month. But I got to know Hans Wilsdorf very well, a wonderful guy, a very nice man.” After three years of an illness that prevented him from continuing, he recovered, “went and got my strength back on a farm”, then joined Patek Philippe. That was in 1948. He stayed there 38 years.

“I appreciated it right away, because I was able to practise my trade to the full. I started with the winding mechanism, we satin-brushed, pol-

ished, bevelled. And after that, I did just about everything: repairing escapements – a task that demanded precision down to one-hundredth of a millimetre. I did the casingup, set enamelled dials, regulated balance springs, balanced balance wheels. Then I specialised in assembling dome clocks with their enamelled panels. No room for mistakes there. Right up to my retirement, I assembled every one of them,” he notes with pride.

When asked what he thinks of watchmaking today, Georges answers unhesitatingly: “I’ve visited

workshops… It isn’t watchmakers assembling the watches any more, but operators, each one doing a limited task. It’s not the same. Before, there were only watchmakers! I’ve had a good life.” His sole regret is for his wife, whom he met at Patek and who died 15 years ago. “Beautiful?

Oh yes. And such a lovely nature. I couldn’t have found anyone better.

She was 10 years younger than me.”

And for the first time, a tinge of nostalgia comes into his eyes.

PORTRAIT

WATCH AFICIONADO | 27

1

On the evening of 9 November at the GPHG awards ceremony, Georges Dubois, age 97, came onstage to award the Prize for the Best Young Student of the École d’Horlogerie de Genève, the watchmaking school in Geneva. The anonymous watchmaker suddenly came out of the shadows. His verve, loquaciousness, clear-headedness and undiminished enthusiasm won the audience’s hearts.

2

3

4

5

6

7

In the basement of the house of Georges Dubois, who in his spare time used to repair antique clocks and make things, there is a complete watchmaking and mechanical workshop, painstakingly created over the decades. He has already donated a large part of his impressive collection of watchmaking tools from the nineteenth and early twentieth centuries to his home town.

1 MICROMETER “The micrometer? We had to make one at the watchmaking school. One heck of an exercise in precision. I'm very proud of it. It measures to 1/10th of a millimetre.”

2 SCHOOL WATCH “My school watch. We had to make one from start to finish. In the end, I won the Golay & Stahl prize. That's why Rolex hired me.”

3 SMALL WOODEN PLANE “This plane is a Catalina. The proportions are perfectly accurate. I started it with an

axe; I carved it out of a log. That was in a hut, during the war, when I was mobilised at the border. I’ve always loved wood.”

4 ELEPHANT & WOODEN STATUE “I was 18 when I made the elephant. It was for a friend. To sculpt the statuette, I took inspiration from a photo of the Ivory Coast that I liked.”

6 WOODEN PISTOL “My daughter was going to a fancy dress party. So with my lathes I made her a wooden pistol. I think it took me an afternoon.”

5 TOOLS “Of all the tools, my favourite is this hammer. It’s so elegant, so fine. It’s made of brass, not steel, so as not to damage the pieces you hammer.”

7 GIFT FROM PATEK PHILIPPE “I received this watch in 1973 for my 25th anniversary with the company. I never take it off, even when I’m gardening. I've had it on my wrist for 45 years.”

DIGITAL DISRUPTIONS

28 | WATCH AFICIONADO

E-commerce: “The second-hand market is the new China” As additional evidence of the growth of the pre-owned watch market (thanks largely to the internet), several Swiss watch manufacturers, including Zenith and Raymond Weil, have signed an official partnership with the American online platform True Facet, a pre-owned specialist. by

Serge Maillard

The co-founder of the New Yorkbased company, Tirath Kamdar, nevertheless hopes to quickly convince more watch companies to partner with him. But isn’t he playing both poacher and gamekeeper, since he operates in both the certified and non-certified markets?

“We have actually always wanted to help brands avoid the grey market, which has the potential to kill the industry,” he responds. “The timing is in our favour, because watchmakers are now trying to regain control of the secondary market.”

In his view, the industry is paying the price for its refusal to manage production volumes, with most of the oversupplies ending up on

On the website of the watch dealer True Facet, you can see side by side the price of a new Raymond Weil timepiece and that of the same model in a second-hand version, sometimes 50% or even 60% lower. Is this another dodgy site where the origin and actual condition of the watch are not guaranteed? Far from it! In fact, the Swiss watchmaker gives direct approval to sales of its second-hand models, which it has serviced itself.

Raymond Weil, Frédérique Constant, Zenith, Fendi, Fabergé, Ernst Benz and Stoic (the latest project from watchmaker Peter Speake-Marin) have already partnered with True Facet, which claims to be the first platform in the secondary market to offer pre-owned watches, certified by the brands. This phenomenon would probably have been unimaginable ten years ago! But faced with booming online sales of second-hand watches, brands are realising that it is just as much in their interests to take a piece of the cake, by getting involved in this market themselves.

Some provide this service themselves, as MB&F has done since last year; others have chosen to join forces with platforms like True Facet.

We have already seen the service centres of secondary market companies such as Watchfinder (since acquired by Richemont) securing the approval of watch brands. But here the operation is taking a step further, since the brands are directly involved in sales of their older products, at a lower price than their more recent references – a concession that is also a sign of the power of this new market.

“For future generations, buying and reselling watches online will become an increasingly familiar gesture. Brands must measure the impact.”

“The grey market could kill the industry”

A high-tech company above all

In addition to its official partner brands, True Facet continues to sell second-hand models from Cartier, Rolex, Breitling, TAG Heuer and Omega, via an authentication and warranty process managed by the platform itself, without the direct endorsement of these brands.

the grey market. “Brands are reluctant to reduce their volumes according to actual economic activity, resulting in an ever-increasing imbalance between sell-in to retailers and stores and sell-out to end customers. In this respect, the export figures for Swiss watches can be misleading. This creates negative chain effects, including a form of rivalry between brands and their retailers that is counterproductive.

And it ultimately leads to buy-outs to correct this strategy: last year the Richemont group had to buy back several hundred million dollars of inventory to clean up the market.”

Faced with this phenomenon, the cofounder of True Facet believes he offers a clever solution for brands that do not want to decrease production. “Even if they reduce the quantities, there are still watches that will not sell as well as anticipated, or that will not immediately find their audience.”

To convince the brands, Tirath Kamdar puts forward several arguments. He begins with the new online shopping habits, which benefit the second-hand watch market first and foremost. “For future generations, buying and reselling watches online will become an increasingly familiar behaviour. Brands must recognise its impact,” he says.

“Some younger customers no longer consider entering a watch store at all. Yet they can be truly passionate about watches!”

Another argument is that the company, which defines itself primarily um, Tirath Kamdar hopes to restore the American market to its true worth. His company generates more than 90% of its sales in the US, and it’s undoubtedly the most active country in the second-hand watch market. “The rise of the Chinese market created a completely different way of selling watches for Swiss brands,” he says. “When it slowed down, watchmakers began to look for the next emerging market... But there is no new China. Or maybe the new China is the second-hand market!”

The new value of the brick-andmortar store

Tirath Kamdar, co-founder of True Facet

as active in new technologies (it is supported by several Silicon Valley venture capital funds), collects data on its users that can be valuable for brands, which often lack direct feedback when working with retailers. “Our SEO is very powerful, we are better referenced than some of the brands themselves,” says Tirath Kamdar.

“If we count all the watches that are traded without any tracking of the transactions, I think that the secondary market is already larger in the United States than the new one,” he continues. These figures are difficult to confirm. By combining trans-

actions carried out via online watch sales giants such as eBay, Chrono24 (which has also formed partnerships with brands, but on new products) or Watchfinder (Richemont), Frank Müller, an expert with German consulting firm The Bridge To Luxury, estimates the value of the global secondary market at over €4 billion.

But here again, this does not take account of private transactions whether online or offline, sales on less known sites, or the countless watch exchanges around the world!

In the face of the industry’s “Chinese obsession”, which has held sway since the beginning of the millenni-

What role will physical points of sale play, if the secondary market, dominated by online sales, really gains in power? The American retail network is already under tremendous pressure from the internet.

Retail behemoth Kmart is about to close its doors, unable to compete with online sales.

Paradoxically, one of True Facet’s latest ventures is a partnership with a physical retailer, Stephen Silver, based in Silicon Valley. The retailer is now devoting part of his store to the sale of second-hand watches. Tirath Kamdar explains it as follows: “The weakening of the physical network of watch stores has created a vacuum in strategic locations. For instance, Audemars Piguet and Richard Mille (which has decided from now on to operate only through its network of ownbrand stores, see interview with Tim Malachard on p. 8) have cancelled their partnerships and are no longer distributed in Silicon Valley, which is now our third strongest market in the world.”

A little like what we are seeing with online giant Amazon, which is powering ahead with its network of physical stores, it is likely that the future of the secondary watch market will also include a re-evaluation of good old bricks and mortar.

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FACT & FICTION

30 | WATCH AFICIONADO

Some fake news about magnetism In the digital age, we hear a lot of scare stories about magnetic fields and the damage they can cause to our watches. Let’s untangle the real from the fake.

Magnetic fields, measured in gauss, are some of the most recent concerns in the watch industry. The fight against their omnipresence is on everyone’s lips. They are accused of disrupting the proper functioning of the watch by slowing down or even temporarily stopping the balance spring.

As a general rule, it is sufficient to move away from the magnetic field for the watch to restart normally.

But not always. The reason for this is the persistence of magnetism on the balance spring, which will affect accuracy.

It also seems to affect the accuracy of the discourse of watchmakers and the general public, since there are many false assumptions about both the causes and consequences of magnetism. So, what is true and what is false?

Magnetic fields are increasing due to mobile phone emissions.

FALSE – While it’s true that magnetism is increasingly disrupting the functioning of our mechanical watches, it’s not because of the mobile phones themselves, but because of their cases! The cases of many electronic devices, from smartphones to tablets, contain one or more closing magnets that create a magnetic field. Many handbag clasps and other everyday objects do the same. So the problem comes from mechanical fasteners being replaced by magnetic closures.

Going through a security gate at the airport is highly risky for my watch.

FALSE – In addition to the presence of a magnet, the other necessary condition for magnetic disturbance is direct contact with the transmitter in question. So, unless you go and rub your timepiece against the metal detector, there’s no risk at all. Similarly, power lines will not interfere with the proper operation of your watch.

When a watch is “resistant to magnetism”, there is no risk.

FALSE - A timepiece can claim an ISO 764 standard if it resists magnetic fields of around 60 gauss. This certification is no longer adequate for the plethora of magnets we encounter in everyday objects. We can legitimately start talking about a need for resistance up to 1,000 or 1,500 gauss. Nevertheless, to date, no objects emitting more than 1,500 gauss have been observed around us that present a risk of direct contact.

After-sales service centres are now clogged up with watches disturbed by magnetic fields.

TRUE - The problem is real, given that the popularity of mechanical watches has grown over the last decade in tandem with increased exposure to magnetic fields in our immediate environment.

Customers tend to underestimate the effects of magnetisation, which is one of the major causes of watch returns.

Demagnetising a watch is a long and tedious procedure.

FALSE - It takes less than a minute, and it is accomplished by exposing the watch to another magnetic field that releases the tension created. Several companies now offer “demagnetisers” to both companies and private individuals, which make it possible both to calculate the watch’s precision and to demagnetise it if necessary. Watchmakers are now setting up new production lines that incorporate amagnetic components or constructions that make watches more resistant to magnetism.

Quartz watches are more resistant to magnetism.

TRUE - Quartz watches are both more accurate and more resistant to magnetic fields than mechanical watches, which are penalised by their “vital” metallic components. In general, if a quartz watch is affected by magnetic fields, without any residual effect and therefore without affecting its accuracy, it returns to normal operation as soon as it leaves the field of exposure. (SM)

Thanks to Daniel Braillard, Chief Operating Officer, Baume & Mercier, for his insights.

Tip from Jaeger-LeCoultre: By placing your watch next to a compass, you will immediately know if it has been magnetised. If the compass hands start to rotate when you move your watch around the device, it means that your timepiece is magnetised.

| CHAIRMAN Philippe Maillard PUBLISHER Serge Maillard EDITOR-IN-CHIEF Pierre Maillard CONCEPTION & DESIGN Serge Maillard, Pierre Maillard, Alexis Sgouridis DIGITAL EDITOR Ashkhen Longet PUBLISHING / MARKETING / CIRCULATION Nathalie Glattfelder, Marianne Bechtel/Bab-Consulting, Jocelyne Bailly, Véronique Zorzi BUSINESS MANAGER Catherine Giloux MAGAZINES Europa Star Global | USA | China | Première (Switzerland) | Bulletin d’informations | Eurotec EUROPA STAR HBM SA Route des Acacias 25, CH-1227 Geneva - Switzerland, Tel +41 22 307 78 37, Fax +41 22 300 37 48, contact@europastar.com Copyright 2018 EUROPA STAR | All rights reserved. No part of this publication may be reproduced in any form without the written permission of Europa Star HBM SA Geneva.

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