RETROSPECTIVE 2000 - 2020 [Catalogue]

Watch Department Geneva Senior Consultant Aurel Bacs +41 22 317 8188 abacs@phillipsbacsrusso.com Senior Consultant Livia Russo +41 22 317 8188 lrusso@phillipsbacsrusso.com Client Relations Manager at Bacs & Russo Clara Kessi +41 22 317 81 88 ckessi@phillipsbacsrusso.com Head of Watches, Continental Europe and Middle East Alexandre Ghotbi +41 22 317 8189 aghotbi@phillips.com Specialist Tifany To +41 22 317 96 63 tto@phillips.com Specialist Virginie Liatard-Roessli +41 22 317 8182 vliatard@phillips.com

Finance & Ofce Administration Francesco Campi +41 22 317 96 71 fcampi@phillips.com Watchmaker, Technical Support Nicolas Commergnat info@alliance-geneve.com Hong Kong Head of Watches, Asia Thomas Perazzi +852 2318 2030 thomasperazzi@phillips.com Head of Watches, Hong Kong Jill Chen +852 2318 2033 jillchen@phillips.com Head of Sale & Specialist Zi Yong Ho +852 2318 2032 ziyongho@phillips.com Associate Specialist Shoyo Kawamura +852 2318 2035 shoyokawamura@phillips.com Cataloguer/Designer Gertrude Wong +852 2318 2045 gertrudewong@phillips.com

Specialist & Head of Digital Strategy Arthur Touchot +41 22 317 96 62 Digital Consultant atouchot@phillips.com Kevin Cureau kevincureau@phillips.com Specialist & Business Development Associate Senior Business Manager, Asia Marcello de Marco +41 22 317 81 81 Felix Yip +852 2318 2034 mdemarco@phillips.com felixyip@phillips.com Cataloguer Edoardo Bolla +41 79 552 73 68 ebolla@phillips.com

Senior Administrator Jacky Lam +852 2318 2031 jackylam@phillips.com

Regional Director, Business Development Director Nathalie Monbaron +41 22 317 8183 nmonbaron@phillips.com

Administrator Stanley Sit +852 2318 2018 stanleysit@phillips.com

Business Development Manager Diana Ortega +41 22 317 8187 dortega@phillips.com

London International Specialist James Marks +44 20 7901 7916 jmarks@phillips.com

Administrator Dominik Teichert +41 22 317 96 67 dteichert@phillips.com

Specialist Chris YouĂŠ +44 777 814 3563 cyoue@phillips.com

Shipping & Ofce Coordinator Marc-Antoine Moreau +41 22 317 96 60 mamoreau@phillips.com

Administrator & Client Liaison Helena Cross +44 20 7901 2907 helena.cross@phillips.com

New York Head of Watches Americas, International Strategy Advisor Paul Boutros +1 212 940 1293 pboutros@phillips.com Senior International Specialist Doug Escribano +1 212 940 1382 describano@phillips.com International Specialist and Head of Perpetual, Americas Geof Hess +1 917 297 6328 ghess@phillips.com Specialist Isabella Proia +1 212 940 1285 iproia@phillips.com Business Development Manager Daniella Rosa +1 212 940 1395 drosa@phillips.com Administrator Jennifer Chung +1 212 940 1314 jenniferchung@phillips.com Paris International Business Development Director Pansy Ku +33 1 53 71 77 89 pku@phillips.com Tokyo Senior Specialist Consultant Genki Sakamoto +81 3 6273 4818 gsakamoto@phillips.com Senior Consultant Kaz Fujimoto +81 3 6273 4818 kfujimoto@phillips.com Taiwan General Manager, Taiwan Cindy Yen +886 963 135 449 cyen@phillips.com Consultant Zachary Lu +852 2318 2034 zacharylu@phillips.com

Phillips & Blackbird RETROSPECTIVE Geneva / 8 November 2020

Sale information Geneva, 8 November 2020

Absentee and Telephone Bids

Auction & Viewing Location

Tel +41 22 317 8181 Fax +41 22 317 8180 bidsgeneva@phillips.com

La Réserve 301, Route de Lausanne 1293 Bellevue, Switzerland Auction Sunday, 8 November 2020, 2pm Please register to bid online, absentee or by phone.

Under the aegis of Maître Tristan Reymond, Huissier Judiciaire

Advisory Board Jean-Claude Biver Henry Chan Helmut Crott Ike Honigstock Stephen Charles Li David Lou TK Mak Auro Montanari Jason Singer Kenneth Wong

Viewing Wednesday, 4 November, 12pm–8pm Thursday, 5 November, 10am–8pm Friday, 6 November, 9am–12:30pm Saturday, 7 November, 9am–12:30pm Sunday, 8 November, 9am–12:30pm Sale Designation When sending in written bids or making enquiries please refer to this sale as CH080320 or RETROSPECTIVE.

Full Lot descriptions and condition reports for the Lots shown in this catalogue are available by scanning the QR codes appearing on the Lot pages. For further assistance, please contact a member of the department.

2000-2005

200 ROLEX REF.116520 DAYTONA

201 ROLEX REF.116520 DAYTONA

202 ROLEX REF.126710BLRO GMT MASTER II

203 ROLEX REF.116518LN DAYTONA

204 ROLEX REF.126600 SEA-DWELLER

205 HUBLOT BIG BANG "BALE 05"

206 PHILIPPE DUFOUR SIMPLICITY

207 F.P JOURNE OCTA ZODIAQUE

208 F.P JOURNE OCTA CALENDRIER

209 VIANNEY HALTER CLASSIC

210 VOUTILAINEN VINGT-8

211 ROMAIN GAUTHIER INSIGHT MICRO-ROTOR

LOT 200-223

212 ROGER DUBUIS HOMMAGE H40

213 A.LANGE & SÖHNE LANGEMATIK ANNIVERSARY JUBILEE

214 A.LANGE & SÖHNE LANGE 1

215 A.LANGE & SÖHNE GRAND LANGE 1 LUNA MUNDI

216 GREUBEL FORSEY SIGNATURE 1

217 GREUBEL FORSEY GMT TOURBILLON

218 AUDMARS PIGUET JULES AUDEMARS EQUATION OF TIME

219 PATEK PHILIPPE REF.5102PR

220 RICHARD MILLE RM005-1

221 RICHARD MILLE RM002-V2 AE PG

222 RICHARD MILLE RM015 PERINI CUP

223 AUDEMARS PIGUET ROYAL OAK CONCEPT TOURBILLON

2006-2010

224 PATEK PHILIPPE REF.5960P

225 PATEK PHILIPPE REF.5270R

226 PATEK PHILIPPE REF.5951P

228 F.P JOURNE OCTA UTC BLACK LABEL

229 PATEK PHILIPPE REF.5131G

230 URWERK UR-103

231 URWERK UR-202

232 URWERK UR-111

233 HUBLOT BIG BANG "DEPECHE MODE"

234 PATEK PHILIPPE REF.5180G

235 F.P JOURNE TOURBILLON SOUVERAIN BLACK LABEL

227 PATEK PHILIPPE REF.5207P

LOT 224-247

236 LAURENT FERRIER GALET SECRET ETOILE FILANTE TOURBILLON

237 CARTIER BALLON BLEU FLYING TOURBILLON SECOND TIMEZONE

238 FRANK MULLER CRAZY HOURS TOURBILLON

239 RICHARD MILLE RM011

240 A. LANGE & SÖHNE DATOGRAPH "YELLOW JACKET"

241 TUDOR BLACK BAY "HARRODS"

242 ROLEX REF.16600 SEA-DWELLER POLIPETTO

243 ROLEX REF.116506 DAYTONA

244 CARTIER TORTUE MINUTE REPEATER

245 AUDEMARS PIGUET JULES AUDEMARS TOURBILLON REPETITION MINUTES

246 BREGUET LE REVEIL DU TSAR

247 F.P JOURNE SONNERIE SOUVERAINE

2011-2015

248 PATEK PHILIPPE REF.5990A NAUTILUS TRAVEL TIME

249 LAURENT FERRIER GALET TRAVELLER BLUE NIGHT GLOBE

250 LUDOVIC BALLOUARD HALF TIME "SOUSCRIPTION"

251 LUDOVIC BALLOUARD UPSIDE DOWN

252 RESSENCE TYPE ONE

253 HYT H1

254 MB&F OCTOPOD

255 MB&F LEGACY MACHINE 101 FROST

256 MB&F HMX BLUE

257 F.P JOURNE CHRONOMÈTRE À RESONANCE

258 BREGUET CLASSIC CHRONOMÉTRIE

259 URBAN JÜRGENSEN REF.11C

LOT 248-270

260 CHRISTOPHE CLARET POKER

261 PARMIGIANI FLEURIER BUGATTI TYPE 370

262 HARRY WINSTON OPUS XI

263 PATEK PHILIPPE REF.5575G

264 PATEK PHILIPPE REF.5275P CHIMING JUMP HOUR

265 LANG & HEYNE FRIEDRICH III

266 CREDOR EICHI II

267 DE BETHUNE DB27 "TITAN HAWK"

268 DE BETHUNE DB28

269 DE BETHUNE DB29 MAXICHRONO TOURBILLON

270 RICHARD MILLE RM038 BUBBA WATSON

2016-2020

271 LOUIS ERARD X ALAIN SILBERSTEIN LE RÉGULATEUR

272 AUDEMARS PIGUET ROYAL OAK OFFSHORE CHRONOPASSION

273 TAG HEUER X HODINKEE SKIPPER

274 GRÖNEFELD X HODINKEE 1941 REMONTOIRE

275 PATEK PHILIPPE REF.5970P

276 PATEK PHILIPPE REF.5370P

277 PATEK PHILIPPE REF.5204P

278 PATEK PHILIPPE REF.5316P

279 CHANEL J12 MADEMOISELLE

280 IKEPOD HHR70

281 BULGARI OCTO FINISSIMO TADEO ENDO EDITION

282 MING PROTOTYPE CONCEPT

LOT 271-294

283 H. MOSER & CIE ENDEAVOUR PERPETUAL CALENDAR

284 VOUTILAINEN L'ESPRIT DU BOIS

285 AUDEMARS PIGUET ROYAL OAK CHRONOGRAPH

286 AUDEMARS PIGUET ROYAL OAK PERPETUAL CALENDAR

287 AUDEMARS PIGUET ROYAL OAK OFFSHORE TOURBILLON

288 PATEK PHILIPPE REF.5959R

289 AUDEMARS PIGUET (RE)MASTER 01

290 OMEGA SPEEDMASTER "RACING JAPAN"

291 ZENITH EL PRIMERO LUPIN THE THIRD

292 PATEK PHILIPPE REF.5531R WORLD TIME MINUTE REPEATER

293 PATEK PHILIPPE REF.3711G NAUTILUS

294 PATEK PHILIPPE REF.5711P NAUTILUS

THOMAS PERAZZI Head of Watches, Asia, Phillips

Following the success of last year’s thematic sale SPORTS in Hong Kong, which was the frst white glove watch auction in Asia, Phillips in Association with Bacs & Russo is honored to partner once again with Blackbird on the creation of this second thematic sale titled RETROSPECTIVE. Why RETROSPECTIVE? After a lengthy discussion with the Blackbird team and especially Mr. TK Mak, we have noticed how the watch industry has changed over the past 20 years and we thought it was important to create this sale this year to show and explain these major changes. The arrival of the independent brands at the forefront of the watchmaking industry has defnitely added plenty of interests and changed the perception of what luxury timepieces should be. Their creativity in mixing movement complexity and art seems to show no limit and adds surprises at every corner. The use of new and intricate materials has also added new strengths, and even lightness, to our favorite watches; and the past 20 years have also introduced many timepieces that we can consider iconic.

Whereas last year’s sale took place in Hong Kong, we decided to hold RESTROSPECTIVE in Geneva because the city is after all the world capital of haute horlogerie, and since it is our will to celebrate the world of horology the best we can, we agreed that there was no better place than Geneva to achieve this desire.

Collectors will notice that the layout of this auction catalogue is different from the standard publications you have come to know at Phillips. Our goal was to create a volume that is closer to a book and which would also serve as a retrospective on watchmaking.

The book is also a testimony to the innovative spirit that Phillips and Blackbird carry, of always being able to evolve and introduce new ideas and creations into the world of watch auctions.

It has been an immense pleasure and very gratifying process to curate this selection of aweinspiring timepieces which represent the evolution of the industry from the beginning of the new Millennium up until present day, and are divided into four sections—each representing a fve-year period—which allows collectors to go on a journey exploring the major milestones of these various eras. I am extremely grateful to our clients for their confdence in Phillips and for entrusting us with their beloved timepieces. I trust that the passion, research and time that these collectors have dedicated to owning and caring for these watches will be transmitted to the new owners who will acquire these fne timepieces during our sale.

I would like to personally thank Mr. TK Mak and the whole Blackbird Watch Manual team for their hard work on this project and the creation of this book. I also want to express my gratitude to Phillips’ international team of dedicated watch specialists for their enthusiasm and professionalism.

ALEXANDRE GHOTBI Head of Watches, Continental Europe and the Middle East Director, Phillips

“Retrospective” is defned as thinking about or connected with something that happened in the past.

This term is particularly meaningful when applied to horological history where the watchmaking industry is constantly referring to the past to move forward.

Indeed, the 21st Century has certainly been an exciting one in terms of horological innovations. In fact, in the past 20 years, the watchmaking industry has gone through more changes than the whole of the 20th century united!

After the almost disappearance of the Swiss watch industry due to the arrival of cheap quartz timepieces, Swiss (and German) watch manufacturers had to reinvent themselves. To this end, they decided to concentrate on high end mechanical watches, no longer used solely as a time telling device, but rather as a work of art that led to the revival (and survival) of traditional arts and crafts techniques which were virtually fully lost.

However, this marketing repositioning, dating from the late 80s, basically saw the industry continuing doing what it used to do. Brands were continuing to make watches like they were doing 20 years before. Then came the new millennia where everything changed.

A breath of fresh air swept over the industry bearing innovations and out-of-the box thinking. Foremost, we saw the arrival of in-house calibers. Traditionally Swiss watchmaking – especially in Geneva - was a division of specialties encompassing a multitude of watchmakers, goldsmiths, dial makers… who combined their skills to produce watches. Whereas bought-in movements used to be the norm, with the frst years of the 21st century, industry behemoths such as Rolex and Patek Philippe felt the need to offer

at long last what collectors had been waiting for years: an in-house chronograph caliber.

For me, one of the greatest trends of the 21st century has been the rise to glory of independent watchmakers. Many set out on their own, starting as small newcomers to become big power players today. Just think of Richard Mille, MB&F, Urwerk, De Bethune, Kari Voutilainen or F.P Journe who are today playing in the big leagues in parallel with maisons that have been around for hundreds of years!

Thanks to the independents, the watchmaking industry also became more creative, not only in terms of disruptive and nomenclature-defying designs but, also in terms of pushing mechanical boundaries. We have seen incredible technical creations using new escapements never seen in wristwatches before, may it be the resonance (F.P. Journe), detent (Urban Jürgensen) or direct impulse (Voutilainen, Ferrier) to name a few. We also saw the use of modern alloys whether in movements such as silicon or in cases such as magnesium! The sky seems to be the limit.

Finally, the greater part of the 21st century has seen the rise of power and reign of the stainless steel luxury wristwatch. Whereas Audemars Piguet’s Royal Oak and Patek Philippe’s Nautilus were just a sport watch within a collection, they have morphed into iconic, genre defning pieces with the new millennium.

I am delighted to share with you Retrospective, the fruit of an incredible collaboration by the Phillips Watches international teams and Blackbird. The result is more than a sale and a catalogue, it is a work of scholarship which we hope will ‘retrospectively’ in years to come, remind us of what horology, at its best, has offered us in this new millennium.

TK MAK Founder & Chairman, Blackbird Automotive Group

It has been a fascinating experience refecting on the last 20 years, certainly for watches, but also the wider cultural aspects and the world events which have shaped the industry. Formative and defning, the era saw an incredible amount of change in a short period of time, providing inspiration for future generations to build upon.

For me, collecting during this period moved from being a highly intellectual pursuit to one that was more encompassing of the emotional and human aspects that make these works possible. The artist toiling away in his studio, or the watchmaker at his workbench are so captivating, speaking clearly of the interaction between the human and the tangible object; it feels much more rewarding and enjoyable, than looking at the microscopic scale.

The personalities around the watch industry during this time are so charismatic, with many of them having an outsized impact on the marketplace today. Names such as Jean-Claude Biver, Philippe Dufour, Thierry Stern and Franรงois-Paul Journe all certainly had history relating to horology prior to the year 2000, but what has been achieved collectively by individuals such as these, and the invaluable teams that support each of them since the dawn of the new millennium would make for excellent case studies for industries beyond watchmaking.

Once again, we have worked with Phillips to move the auction catalogue format forward, in a quest to make the book you have in your hands an educational resource that will be as insightful in years to come as it is today. With a focus on editorial that is shaped around the watches featured, we hope to provide context to what these pieces represented on their release and to collectors today.

As we did with SPORTS, we have given the watches more room to breathe, letting them speak for themselves visually by presenting a simple, clear shot for each lot. With the application of technology, a QR code alongside each watch can be scanned to take those interested to see the unique details for each piece and further images, which blends the best of the physical and digital presentations.

It has been an enjoyable experience, as well as an honour, to partner with Phillips once again on a project such as this. As I mentioned in SPORTS, and what bears repeating here, is that ownership is only part of the appreciation of watches, so I wish those that do decide to acquire one of the pieces presented here the best of luck in the bidding, and I hope this book provides considerable enjoyment for all who get to read it.

Welcome to Phillips & Blackbird: RETROSPECTIVE.

2000-2005

WORLD As the clock struck midnight on the 31st December 1999, there was much to be hopeful for in the world.

A period of relative international calm, a variety of innovations on the cusp of breakthroughs (the widely feared Y2K bug showing little impact as the clocks rolled over), and strong economic indicators from the industrial power houses offered a warm, optimistic glow for the new millennium.

The five year period that followed would provide the technological foundations that we rely on today, and the catalyst for growth for nations and companies that have come to define the world. The nascence of social networks would emerge in the form of the collaborative, free encyclopaedia, Wikipedia, in 2001, then with the likes of Friendster and MySpace that had early traction, before being overtaken by Facebook that was founded in 2004. The era would also see email become the de rigueur form of write communication, as well as the rise of such technologies as WiFI, GPS and open source software that have become key building blocks for apps that we rely on today.

Apple presented the iPod in 2001 followed by other great innovations, including the iTunes store and its groundbreaking physical retail locations, that formed the building blocks for the integrated ecosystem that it is known for today, all under the watchful eyes of its celebrated founder Steve Jobs and design visionary Jony Ive. This period saw Microsoft launch Windows XP, a landmark operating system, but more importantly the company added video games to

its portfolio with the release of the Xbox that was immensely successful and has become a key pillar for the organisation. 2000 to 2005 would not be all smooth sailing for the technology industry though, with the dot-com bubble bursting early in the start of the new millennium, causing the demise of many companies in the sector, but those that made it through would go on to become titans, such as Amazon, Google, and eBay. Globalisation would be the dominant force of the era post-2000, fostered by reduced trade barriers (the Euro was introduced in 2001 as the member nations’ prime currency), fast communications with the adoption of high-speed internet, and a delta in labour costs across markets, resulted in increased offshoring. This would bolster a manufacturing supply chain and logistics that was already gravitating towards Asia and would be constantly increasing in efficiency, all of which would form the foundation for the rise of China as an economic powerhouse.

It would be an exciting period for the world of science, seeing full genome sequencing, a more complete understanding of dark energy, the continuous habitation of the International Space Station providing some early forms of space tourism, and the landing of the Mars Exploration rovers Spirit and Opportunity on the Martian surface. Against this background, it is easy to see why the beginnings of the 21st century really did feel like the a significant step into the future.

MUSINGS|THE ORIGIN OF HYPE

Watch enthusiasts who have recently acquired a taste for modern sports watches may find it difficult to believe that there was a time, around the early 2000s, or even 2010s, that many of today’s most highly coveted watches were displayed in boutique windows and readily available for purchase.

There were some exceptions to this rule, particularly the Rolex Daytona with its then shiny and then new in-house automatic chronograph calibre 4130, but even for the 116520 it was a distinct possibility that you could put your name on a list and have a watch in 6 to 12 months, depending on where you were in the world; waiting lists were tangible, and not ethereal entities that may or may not actually exist. Rolex GMTMasters, Submariners, Sea-Dwellers, the iconic Audemars Piguet Royal Oak and Patek Philippe Nautilus references were all waiting in showcases, in either steel or precious metals.

All that was required during this golden period

was an interest in watches and the means to purchase; how times have certainly changed.

So the question has to be raised: what took place over the last 20 years to cause such a dramatic shift in circumstances, for watches that were readily available to become all but impossible to buy from an authorised retailer, within a reasonable and discernible time frame? First we should consider the supply/demand dynamic, and while it is impossible to get absolutely clarity on the manufacturing side for these particularly guarded companies, there is a consensus that production numbers have increased over this time frame, logical when there in an insatiable appetite from customers, and any profit-making business would prefer not to lose a franc, euro, dollar or pound a competitor.

Even if supply had been maintained at the same level for two decades (a rather unlikely scenario), the only answer is there has been a marked uptick in demand.

200

Rolex, Ref.116520 Daytona, Circa 2015 CHF 15,000 -25,000 A "new old stock" stainless steel chronograph wristwatch with "APH" dial and guarantee

Rolex, Ref.116520 Daytona, Circa 2010 CHF 15,000 - 25,000 A “new old stock” stainless steel chronograph wristwatch with guarantee

201

There are a number of factors that could account for this. First is the rise in demand of international consumers for luxury goods since 2000, the most notable region being Asia, where there has been an incredible growth in GDP, particularly for China, which saw the figure per capita increase by a factor of 10 since the turn of the millennium. This wealth generation from strong export economies has created a burgeoning middle class with a large appetite for luxury goods. Of course these assets are also seen as a relatively safe store of value, further encouraging interest in watches as possible investment tools.

This perception of value retention has been easier to comprehend with the rise of online marketplaces, and digital results from major auctions available live, presenting rich data sets to justify the price of entry when the exit value is so easy to understand. Online sales platforms have also made it easier to sell watches should the owner’s taste or interest have changed, and the capital freed up can be rolled into a new acquisition, with the most savvy building up relationships with authorised dealers to allow them to circulate a position on the list.

Once the watch has become something of a tradable commodity, it leaves the door wide open to speculation, and the unfortunate scenario where a watch is purchased purely as a trading tool and not out of genuine interest as a collectible. Although brands have made attempts to discourage this practice, the allure remains, much to the dismay of genuine enthusiasts. When there is an international arbitrage play, we see watches shipped through multiple countries and many sets of hands, before they land in a more permanent home, each vested party receiving a share of the proceeds.

While this may be a sizable contributor to the increase in demand and the resulting lack of availability, there is a far more positive reason that has also contributed to the empty showcases at retailers: watches have become cool. In the year 2000, mechanical timepieces were still perceived as anachronistic, reserved for the nerdy enthusiast whose publications were alongside those covering model railways in book stores. But with the rise of digital media and better communication from brands around their heritage, watches have evolved into totems for permanence and strength.

Iconic images of Paul Newman and his Daytona, Jacques Cousteau wearing a Submariner and a GMT-Master on the wrist of Dizzy Gillespie would regularly make the rounds on forums and social media, a constant reminder that the modern versions of these important references had been chosen by the best in their respective fields. As enthusiasts would dive deeper into the lineage of these models and understand where they really came from, measuring oxygen reserves for divers, timing laps at the most prestigious races, and offering a way for the new jet set pilots to keep track of time at home and perhaps alleviate a bit of jet lag, the appeal became even more palpable.

There may be no end immediately in sight to address the current shortages of the most coveted reference at authorised retailers, but the good news is that many, many, examples of all of these models have been produced and they regularly cycle through the market. Some of these watches come with beautiful provenance that adds even more to their value that money alone can calculate, and with a bit of time on the wrist, new connections will be formed and stories built by the new custodian, that will make the challenging chase to acquire fade to a distant memory, just leaving a great piece of design with exceptional heritage and carefully crafted durability that will becoming a loyal time telling companion.

202

Rolex, Ref.126710BLRO GMT-Master II, Circa 2018 CHF 8,000 - 12,000 A stainless steel dual time wristwatch with guarantee and box

Rolex, Ref.116518LN Daytona, Circa 2017 CHF 10,000 - 15,000 A 18K yellow gold chronograph wristwatch with guarantee and box

203

204

Rolex, Ref.126600 Sea-Dweller, Circa 2019 CHF 6,000 - 9,000 • A stainless steel diver’s wristwatch with guarantee and box

SCHOLARS|JEAN-CLAUDE BIVER

The watch industry has certainly evolved considerably over the past twenty years, as seen in the multitude of brands that have joined the fray, giving rise to a wide variety of timepieces to choose from. Behind these companies and products though are the people who not only produce the watches, but who had the initial vision for a narrative that would capture the hearts and minds of collectors around the world. Amongst all these people, it would be diffcult to argue that there is one person who has had more infuence on how the industry has evolved, not in the way the watches are conceived, but in how the story is told and turned into a passion, than Jean-Claude Biver.

Biver’s story needs to start well before the timeline that we’ve been focusing on, all the way back in 1974, when he frst joined the watch industry working for Audemars Piguet, at the time under the guidance of another industry stalwart, Georges Golay (who is credited for persisting with a collection that has enthusiasts frothing at the mouth today: the Royal Oak). Those who have known Biver in recent years know that his energy and drive are second to none, and that patience is perhaps one word that no one would ever associate with him. Needless to say, the pace of the watch industry in the 70s to the 80s was unrushed at best. He rose through the ranks, but that did not satisfy him, and he joined Omega in 1979, in the throes of the so-called Quartz Crisis, when the industry genuinely felt that there might be no future left in mechanical watches. In 1981, Biver took a giant leap of faith, purchasing the rights to Blancpain for 22,000 Swiss francs, and with his associate Jacques Piguet, decided that he would go completely against the grain and focus solely on mechanical watches. The brand’s tagline, which endured for more than 20 years, was: “Since 1735, there has never been a quartz Blancpain watch. And

there never will be.” This stroke of genius is credited with saving the Swiss watch industry, and reviving mechanical watchmaking, elevating it well above the basic functionality of timekeeping into an art form.

Blancpain would join the SMH Group (today known as the Swatch Group) in 1992, with Biver remaining at its head until 2003. During that time, he was also responsible for another of the group’s brands, Omega, where he established another key marketing tool that would inspire the industry, with high-profle brand ambassadors such as Cindy Crawford and the James Bond movie franchise.

Persistent health issues had been troubling Biver for a few years though, and when he stepped down from the Swatch Group board in 2003, and Blancpain and Omega were given new leadership, few could have expected that he would bounce back spectacularly just a year later, when he went to work with Hublot in 2004. The brand, founded by Spaniard Carlo Crocco in 1980, was well distributed but had not evolved much from its original concept of natural rubber straps (incidentally vanilla scented) with luxury watches. Seeing another major opportunity, Biver tried to acquire the brand from Crocco, who refused, but agreed to sell him a shareholding if he were to run the company. Once again, the rest of the industry, operating only marginally faster than it had twenty years earlier, did not immediately grasp the potential that Biver had seen with the concept of the lifestyle watch, one that breaks the traditional molds by mixing not only rubber straps, but ceramic and other technical or sports materials with the usual steel and precious metal watch cases. The name Biver came up with perfectly encapsulated the idea: Big Bang, representing the fusion of elements that created the universe.

Hublot, Big Bang "Bale 05", Circa 2005 CHF 11,000 - 18,000 A stainless steel and ceramic prototype chronograph wristwatch with guarantee, box and Mr. Jean-Claude Biver signed letter

205

Retailers were not convinced, but Biver’s reputation and friendship took precedence, and the Hublot Big Bang collection was rolled out worldwide, with Biver once again on the road, meeting directly with collectors to spread the gospel of fusion and the luxury lifestyle watch. There is no denying that the energy he put in personally on these trips led to the Big Bang being a tremendous success, such that the LVMH Group would acquire the brand just four years later, with Biver having generated a near tenfold increase in sales already. It was no surprise that Biver would be handed responsibility for other watch brands within the LVMH portfolio in 2014, namely TAG Heuer and Zenith. Ever the risk taker, he surprised the industry yet again when he added a smartwatch to the TAG Heuer portfolio; how could the man who had championed the mechanical watch so vociferously now develop what some considered its antithesis? Undeterred, Biver felt the experience in itself would be worthwhile, to learn about this new market segment, which he was convinced would turn out to be complementary to the industry as a whole.

Beyond his incredible business sense and subsequent success, Biver is also known for his tremendous human qualities and the friendships he has built, and maintained, through decades in the industry. He has always remained approachable as well, seeming to draw energy from these personal interactions with business partners and collectors. He has also been a tremendous mentor, with many of his associates going on to take the lead at other brands, such as Rolex’s CEO, Jean-Frédéric Dufour, who started his career in the watch industry at Blancpain under Biver.

Having transformed the industry twice, frst with the revival of the mechanical watch, then re-opening the door to innovative materials being brought to the fore, Biver stepped away from an operational role with LVMH in 2018, leaving the stage to his successors at TAG Heuer, Zenith, and Hublot. You might think that he would be more than ready to enjoy the fruits of his labour and fnally take a real breather, but there is always a sense that, given the right opportunity or idea, JCB (as he is affectionately known) would not be beyond a repeat performance.

ICONS|THE PHILIPPE DUFOUR SIMPLICITY

It is astonishing looking back at the environment that Philippe Dufour’s Simplicity launched in, when it made its debut in 2000. We will touch on how this period represented something of a genesis for the modern independent watchmaking movement in a later chapter, but it is fascinating to consider how many great names were presenting their exceptional creations at that moment.

out of school at Jaeger-LeCoultre, he worked in a number of countries, before spending time at Gérald Genta, then Audemars Piguet, then eventually setting up his own restoration workshop in 1987. He would create a sonnerie pocket watch movement during this time that eventually found its way into a run of fve pieces bearing the Audemars Piguet name on the dial.

What differentiated Dufour from the other names that are now familiar is that, while they were fnding a place within the industry, Dufour had not only been toiling away for more than a decade, he had already created two high watermarks for horology: the frst wristwatch grande and petite sonnerie that arrived in 1992, and his landmark Duality which debuted in 1996 as a planned run of 25 pieces, of which only nine were completed.

Once the calibre had been re-engineered for the wristwatch format, proving Dufour’s aptitude for traditional complications, a pursuit of chronometer precision was next on the list, giving rise to the Duality, that averaged the rates from two balance wheels through a mechanical differential improving stability and therefore accuracy. So, after achieving so much, what would be the next step? Perhaps taking it back to basics.

His CV is well known to many hardcore enthusiasts but it is worth summarising again. Born in Le Sentier, a village in the Vallée de Joux, in 1948, Dufour would take the route of many from the region and train as a watchmaker. Finding work

When the Simplicity was launched, it was met with high praise from serious collectors, and a degree of confusion from the wider marketplace. With a price tag that was multiples of the vast majority of comparable models from top tier brands, it was

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Philippe Dufour, Simplicity 20th Anniversary, 00/20, Circa 2020 CHF 200,000 - 400,000 ∑ A limited edition 18K pink gold wristwatch with hinged caseback, guarantee and box

hard to digest for many, but one market with its deep appreciation for craft and the intellectual search for perfection in the handmade was Japan, and Dufour would soon fnd a cult following in the country that had triggered the quartz crisis.

of the Simplicity without running out of adjectives, and even then one feels like you have not done it justice; the only solution is that if you ever have the chance to inspect one of Dufour’s creations with a loupe in hand, it absolutely has to be taken.

Initially only intended to be offered in a case size of 34mm, a dimension that Dufour deemed appropriate given the classical inspirations of the watch and one that actually wore extremely well, even on large wrists, thanks to long lugs reminiscent of a Vichet-cased Patek Philippe, there was soon suffcient demand for a larger size such that a 37mm version of the Simplicity would soon arrive.

It would be easy to simply ft the existing movement in a larger case with a spacer ring to take up the space, but this is not an approach that Dufour would tolerate, so he went about redesigning the calibre for the broader size.

The selection process for acquiring the watch was known to be arduous, and required an introduction to Dufour, as well as existing clients vouching for you as a worthy recipient. It became such a fever pitch in later production that there are multiple forum posts from the 2000s that can probably still be found with enough online sleuthing, where people enquired how they could order a Simplicity, only to be quickly struck down and told that it was not possible. As a result, the watches have mainly ended up with very private individuals who were hand picked by Dufour and a network of trusted friends who acted as pseudo-retailers.

The movement, based on a Valjoux calibre VZSS and heavily reworked, is truly a thing of beauty for those who can appreciate the pinnacle of fne fnishing. Lustrous anglage with deep interior angles that are so hard to execute, with stark, contrasting côtes de Genève engraving to the main plates that offer one of the greatest benchmarks to compare the art of the technique when carried out by hand, versus the widely seen machined produced effect.

Countersunk screw holes through and oversized jewels make the calibre feel like a observatoire pocket watch movement ready for a trial. There is also judicious use of black polishing in key areas, including what has to be one of the most beautiful click springs ever created, and obviously hand fnished screws with bevels to the slot and edges.

It is so hard to write about the movement fnishing

With a total of just over 200 pieces made in the initial production run, plus a few bonus pieces for those who are particularly keen supporters of Dufour’s work, and now the fnal, fnal run of 20 pieces in honour of the anniversary, of which number 0 is shown here, the Simplicity has rightly deserved its place in the hallowed halls of grail status watches among the most prominent collectors. The execution is of absolutely paramount excellence but for a number of proud owners, it is the model’s position as a philosophical exercise that makes it such a wonderful object; one man's pursuit of perfection after decades of training and experience, an opus to the handmade on the most simple canvas, that of a three-hand, manual wind, timeonly watch.

SCHOLARS|FRANÇOIS-PAUL JOURNE

If we look at today’s watchmaking industry, there are, quite literally, hundreds of brands that are vying for our attention, with many who would certainly like to see their names mentioned in the same vein as that of the founding fathers of haute horology. The glass ceiling, as it were, is present though, and it takes a high degree of selfconfdence, creativity, and, it must be said, luck to break through it. It’s even more rare when the technical achievements are also met with a business sense and a long-term vision beyond the delivery of the next novelty. François-Paul Journe has certainly achieved the above, through a career built on decades of perseverance and foresight. What makes his story particularly fascinating though is that his path to becoming a modern master was so unusual.

Born in Marseille in 1957, young François-Paul showed an aptitude towards understanding how machines worked, but he was an unruly child in a city that was known for its rambunctiousness. He had little respect for authority, and would be more adept at disrupting class than contributing to it. That is, until his uncle Michel, a watchmaker and clock

restorer based in Paris, took him under his wing.

A frst attempt at watchmaking school in Marseille saw young Journe be expelled after two years, with a recommendation to give up on watchmaking.

Undeterred, Michel brought François-Paul to Paris, and got him enrolled in the Pierre Girard School of Watchmaking, splitting this time between classes and furthermore learning in his uncle’s workshop through the restorations in progress. Marking a complete turnaround in just two years, he obtained his certifcate of professional competence in watchmaking in 1976, with high marks.

When his uncle retired in 1985, Journe set up his own workshop as he preferred to develop wristwatches rather than restore clocks. His focus was on special commissions, originally for private collectors, until word-of-mouth led to established brands such as Cartier, Chaumet and Piaget knocking on his door for their own watchmaking projects. He had also been attending Baselworld, as a member of the Académie Horlogère des Créateurs Indépendants (AHCI), even though he did not have his own watches to display yet. He would wear

F.P. Journe, Octa Zodiaque, 075/150, Circa 2004 CHF 25,000 - 45,000 A limited edition platinum wristwatch with date, power reserve, month, zodiac indications and certifcate

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the tourbillon with remontoir d’égalité wristwatch he built for himself in 1991, and it was getting increasingly noticed, which convinced him that he should launch his own brand. With insuffcient funds on hand to produce the watches, he relied on a subscription model, which Breguet had also used in his time, whereby collectors would pay him a signifcant deposit towards the watch with delivery due at a later date. In 1997, with his name already known to a number of well-heeled friends and collectors, he was able to earn commissions for the frst 20 Tourbillon Souverain watches. They were formally launched just two years later, at Baselworld, where he was still in attendance with the AHCI.

Along with the tourbillon, Journe had been fascinated by a phenomenon that Breguet, Antide Janvier and Christian Huuygens had studied but never fully understood, one where two identical time delivery mechanisms, such as pendulums or balance wheels, placed in juxtaposition would, somehow, fnd a way to synchronise. Journe would dub this phenomenon resonance, and used it to create a second subscription series of 20 watches, the Chronomètre à Résonance, which was launched just a year later, at Baselworld in 2000, but this time with Journe taking his own space within the exhibition. The rest, as they say, is history.

Journe is certainly not one to rest on his laurels, as he is always working on several designs simultaneously, depending on what stirs his interest at the time. On the foundations of two core collections, Souveraine and Octa, he tackled a number of classical complications, but he would also be intrigued by unconventional ones, such as the Octa Zodiaque, which instead of months displays the current astrological sign; this watch would also stand out as it would be the last series equipped with a brass movement, before Journe decided all his calibres would be crafted in rose gold from 2004 onwards.

Another defning characteristic is that Journe works at his own pace, and is quite satisfed with the number of watches that are produced each year at his manufacture, one of the few that are still based within Geneva. Collections evolve over time, but do not overlap; rather, he will retire them whenever a new adaption is ready to be launched. He marks the signifcant transitions with special pieces, such as when he decided that

he would no longer make 38mm watches, and on that occasion produced a 38 commemorative sets of fve steel-cased 38mm watches, each with one of his signature constructions: Tourbillon Souverain, Chronomètre Résonance, Octa Automatique, Chronomètre Souverain, and Octa Calendrier.

There are still occasional sparks of the irreverence that characterized his youth, but you can be assured that he has toiled many hours on every detail of his timepieces, technically and aesthetically, just as he did when he set out to build his frst watch, thinking at the time that it would be the only way he could own one. It’s this particular formula that has made an F.P. Journe watch so desirable, a personal touch that embodies this fascination he developed for wristwatches during his formative years, and a genuine respect for those that nurtured that interest, from the friends and partners that have guided him, and the works of the historic masters that served as inspiration.

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F.P. Journe, Octa Calendrier, 31/38, Circa 2015 CHF 30,000 - 60,000 A stainless steel annual calendar wristwatch with retrograde date, 18K pink gold movement and certifcate

2000-2005 CULTURE While culturally, the early 2000s looked, in many ways, like the late 1990s, there were changes underfoot that would provide the catalyst for significant changes across multiple industries.

In music, the charts were dominated by pop, rock and hip-hop, with the later generation becoming increasingly prominent, accompanied by the sounds of the super-production duo of Pharrell Williams and Chad Hugo’s The Neptunes fooding the airwaves. High-speed internet proved a double edged sword for the industry, as while digital sales through services such as the iTunes Music Store provided frictionless access to a huge catalogue of artists and songs like never before, there was also a signifcant increase in illegal fle sharing through services such as Napster, although the good would eventually prevail.

In movies, a rise in computer-generated imagery would see animation houses such as Pixar gain traction, as well as increasingly sophisticated digital scenes giving rise to epic fantasy series’ being brought to life on the big screen, including the Lord of the Rings trilogy and start of the onscreen Harry Potter franchise, as well as laying the foundations for the superhero genre that would become so dominant in the years since. It was hard to change television channels during primetime in the early 2000s without seeing some form of reality TV, be it The Apprentice, Pop Idol, Big Brother, or some other similar format that would become cult viewing for many.

With Microsoft entering the video game console market with the Xbox, there was suddenly real competition to the established players of Sony, Sega and Nintendo. Similar to the movie industry, the period would establish the dominance of gaming franchises, such as Grand Theft Auto and Call of Duty that would go on to become vast online multiplayers

in later years and redefne the marketplace, causing the video game business to eventually become larger than movies and music combined.

Top fight sports would see a period of dominant forces, such as Michael Schumacher’s fve back to back championships for Ferrari in Formula 1, and the English Premier league ruled by the “Top Four” of Arsenal, Chelsea, Liverpool and Manchester United. The Summer Olympics would take place in Sydney in 2000 and return to their home in Athens in 2004, with the later event being particularly memorable for swimmer Michael Phelps winning eight medals, putting him well on the way to being the most decorated Olympian of all time.

While so much was turning digital, in particular print media that moved online, and to very early e-readers, architecture and art were two areas where this could not directly happen, but technology did have a peripheral effect. In construction, the increasing availability of computer aided design resulted in more organic structures such as the so-called Gherkin in London, and sophisticated modelling allowed for even taller builds, such as Taipei 101, which was the tallest building in the world upon completion in 2004. In the art market, there was a consolidation of the names that have come to defne the contemporary market with the likes of George Condo and Damien Hirst presenting new works and exhibitions, while being regular fxtures of the auction market.

The dawning of a new millennium certainly provided plenty of ingredients for the cultural landscape to change, even if it were to not happen as the clocks rolled over.

MUSINGS|DAWN OF THE INDEPENDENTS

It is incredible looking back at the list of watches from independent makers that either launched in 2000, or were in the process of delivering an important model for their namesake brands.

We will tackle some more of them in our chapter covering watchmaking for the frst few years of the new millennium, but to picture the fairs in 2000, with the likes of George Daniels and a young Roger Smith presenting the Millennium watches to those collectors lucky enough to have an allocation, F.P. Journe doing the same for his new Resonance and existing, although only one year old, tourbillon model, and Vianney Halter still working through the order books for his Antiqua, which had debuted in 1998. And last but certainly not least is the image of Philippe Dufour walking the halls with the new Simplicity on his wrist, building up interest from the collectors’ community.

Roger Dubuis launched his brand in 1995 and was still in the frst phase of the brand producing exceptionally fnished odes to singular midcentury watchmaking, prior to his departure and the explosion in commercial popularity, and Felix Baumgartner and Martin Frei established Urwerk in 1997, offering some of the wildest creations that

have ever been able to display the time. In the years that would follow the start of the new millennium, the world would witness the establishment of now household name brands (at least in the residences of horological enthusiasts), including Kari Voutilainen in 2002, Romain Gauthier the same year, and Greubel Forsey in 2004.

It is hard to think of a time where more great minds had been residing in the same region, all focused on the same goal of elevating their craft and pushing boundaries; it’s reminiscent of historic periods such as Renaissance era Florence, Baghdad’s House of Wisdom during the Islamic Golden Age, or Modena in the 1940s as the Italian competition car would emerge from various minds. We can also point to what would become known as Silicon Valley in the 1970s, or New York in the 1980s providing the fertile ground for the contemporary art movement as we know it today.

Perhaps it is worth considering how these circumstances came about, allowing these great minds to create so many iconic models, and establish a number of important manufactures in such a short period of time.

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Vianney Halter, Classic, Circa 2008 CHF 10,000 - 20,000 A 18K yellow gold wristwatch with certifcate and box

Voutilainen, Vingt-8, 3/25, Circa 2013 CHF 35,000 - 55,000 ∑ A limited edition platinum wristwatch with blue dial and power reserve indication, additional black dial, extra hands, guarantee and box

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The region where many of these independents now operate, in and around Geneva and beyond to the VallĂŠe de Joux, has been a manufacturing hub for centuries, famously as the farmers who had a down time in the winter would turn to production of goods during the long, quiet months, utilising their attic spaces and soft natural line to focus on intricate tasks. This has evolved into a whole series of suppliers that provide highly specialised skills, such as the manufacturing of balance springs, or intricate dial work, all of which frees up creative minds to consider how they can devise something truly new.

The next step which has proven vital is education, through industry bodies and companies that could provide on the job training to new graduates.

WOSTEP (Watchmakers of Switzerland Training and Educational Program) was established decades before this modern golden age, but initially set out to train watchmakers to churn out mass produced pieces for a time when a mechanical watch was indispensable. The evolution occurred post quartz crisis, when the emphasis was placed on the quest for perfection in categories such as fnishing and chronometric performance, and would fnd a receptive audience with classes that contained so many of the industry’s watchmaking idols of today.

It is possible that, the reason so many highly capable individuals found themselves pursuing a career in felds that must have seemed rather antiquated in the 1990s could be explained by a push among traditional educational institutes for students to chase careers in the tertiary industries, as those sectors that required one to use their hands were seen as obsolete.

This may have been well received by many, but there was a small cadre of individuals who fantasised about creating objects from nothing with only the will determination, and physical ability to achieve this. The rebel mentality is a strong character trait for many independent watchmakers today, not only leading them to fnd kindred spirits in the Swiss countryside, but to band together and right the wrongs of the Quartz crisis.

The Académie Horlogère des Créateurs Indépendants, simply known as the AHCI to most, had its founding in 1985 thanks to the efforts of Svend Andersen and Vincent Calabrese, although really came into its own as more and more joined the association. With a stand for its members at Baselworld, it would offer a wonderful environment for retailers and collectors to meet up and coming talent, to keep a close eye on their progress and, of course, place an order. This setup also provided another valuable service, by effectively consolidating marketing and sales under this umbrella, with the majority of these efforts taking place during the week of the fair, it meant they could dedicate the majority of their time to the workbench and keep a clear head for concept creation.

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Romain Gauthier, Insight Micro-Rotor, 0/10, Circa 2017 CHF 20,000 - 30,000

A limited edition 18K pink gold wristwatch with warranty and box

Roger Dubuis, Hommage H40, Circa 2000 CHF 20,000 - 40,000 A 18K pink gold single button chronograph wristwatch with Breguet numerals and box

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Another valuable part of the equation was Renaud & Papi, established by Dominique Renaud and Giulio Papi in 1986, who had met a short time before at Audemars Piguet. Their inconspicuous building in Le Locle would bring together so many of the great names within the industry today, and forge their talents in the fre of commissions from brands such as IWC, Richard Mille and Audemars Piguet themselves, who would eventually acquire the workshop, which is now known as APRP. Robert Greubel, Bart and Tim Grรถnefeld, Carole Forestier-Kasapi, Stephen Forsey, Anthony de Haas, Stepan Sarpaneva, Peter Speake-Marin and Andreas Strehler, to name but a few, would all gain experience at the company, providing them with core skills that would serve them so well as their careers progressed.

The names mentioned through this chapter are not the only watchmakers who have toiled away at the bench by themselves or with a small team (thus operating outside of a group structure or a vast manufacture where people have highly specifc roles); Abraham-Louis Breguet could be considered the prototype for this format, with George Daniels carrying the torch. But what the modern era of independents, who had their breakthrough moment at the turn of the millennium, have been able to achieve is to foster the intellectual curiosity of a new generation of collectors, one that wants to go deep into the subject and form a personal relationship with the humans behind these amalgamations of gears and springs. They are certainly deserving of recognition and applause, together with all those who make their work possible.

SCHOLARS|ANTHONY DE HAAS

The story of A. Lange & Söhne rising to the pinnacle of watchmaking from its unlikely origin in the Saxon region of Germany is well-known, having been brought back to life by Walter Lange, the greatgrandson of the founder, Ferdinand Adolph Lange, soon after the fall of the Berlin Wall. The former had a vision, and an undeniable heritage that would give the brand credence. The technical and business sides though were brought through his partnership with the legendary Günter Blümlein, who headed one of the original watchmaking groups called Les Manufactures Horlogères (LMH), operated by the German conglomerate, VDO, and comprised of Jaeger-LeCoultre and IWC Schaffhausen.

Lange and Blumlein saw a tremendous opportunity in 1989, with the reunifcation of Germany, to shine a light on German watchmaking once again, and set upon reviving the brand in its home of Glashütte. The company, Lange Uhren, was founded in 1990, and presented its frst collection of the modern era in 1994.

This would not have been possible without Blümlein, who saw the synergies provided by having two established manufactures already under his purview, and the technical knowledge of the watchmakers from JLC and IWC would help the company recruit and train the technicians in Glashütte.

Within a few years, A. Lange & Söhne’s reputation was already well established, a stunning achievement given the technical and artisanal content within its watches. The double assembly principle was already in place, whereby the movements are hand-fnished, assembled once to ensure that it all works properly, then completely disassembled for further hand fnishing before fnal assembly and casing, with a level of refnement that is, at the very least, on par with some of the fnest examples in Switzerland.

Although Blümlein sadly passed away unexpectedly in 2001, the foundations he laid with Walter Lange were such that there have always been very high expectations of any timepiece produced by the company in Glashütte. It’s with this responsibility that Anthony de Haas became its Director of Product Development in 2004, a position which he still holds today.

De Haas hails from the Netherlands, where he studied micromechanics and watchmaking, before spending a few years as a watchmaker responsible for after sales service, frst at a jewellery shop in his native country, followed by a few years with Seiko in the Netherlands, before joining IWC

A. Lange & Sรถhne, Langematik Anniversary Jubilee, 271/500 Circa 2004, CHF 20,000 - 30,000 A limited-edition platinum wristwatch with enamel dial, guarantee and box

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Schaffhausen in 1997, where he met the late Blümlein, who predicted then that he would one day work at Lange. He stayed in Schaffhausen until 1999 before moving to Le Locle, taking up residence at Audemars Piguet (Renaud & Papi), where he specialised in the department dedicated to chiming watches. Unusually for a technician, he moved within ARPR to head their sales and marketing, and also their human resources, but this gave him a particular affnity for the human aspect of watchmaking. In 2004, the opportunity with Lange presented itself, and he hasn’t looked back since.

With his particular skill set, there were high expectations that De Haas would, sooner or later, develop a chiming watch for Lange, which did happen although it took almost nine years, with the Grand Complication presented in 2013. He would explain that part of that time was required because the watchmakers in Glashütte, although very gifted, would require to be thrown in at the deep end in order to appreciate the intangible nature of a chiming watch, and why one piece might sound different from the next, even though the parts would presumably be the same.

The A. Lange & Söhne legacy is always part of his remit though, which is very much exemplifed in the watches presented here. The Lange 1 is certainly the most iconic, with its outsized date and off-centre dial being perhaps the most recognised design, certainly because it was part of that original 1994 collection.

The disparate elements on the dial somehow seem aesthetically balanced, which is due to their disposition being arranged according to the Golden Ratio; it had the particularity of having the dial being designed before the calibre was developed (usually, a dial is adapted to an existing calibre).

An extension of the Lange 1 design is seen in the Grand Lange 1 Luna Mundi, a pair of watches that exemplify the technical attention brought to even the relatively simple timepieces. The moonphase was one of the most accurate at the time of the set’s introduction, as it moves continuously rather than in the usual increments, leading to a variation of just one day every 122 years. The two watches in the set represent the fact that the moon is seen differently from the northern or southern hemisphere. There is also the Langematik Anniversary, which was unveiled on the occasion of the modern brand’s 10th anniversary; the seemingly straightforward technical nature of the watch means that only those who are well-versed in the challenges of producing enamel dials to appreciate its artistic nature.

As a result, it took more than four years for the 500 piece series to be completed.

It is clearly evident that Anthony de Haas took on these responsibilities with great aplomb, as he immediately set about overseeing, in addition to the chiming watches, collections such as the Zeitwerk and the Timezone, both of which are also highly discernible technical achievements for the brand.

Perhaps what’s most admirable though is how de Haas will, even today, present each and every new timepiece with enthusiasm, taking great pleasure in explaining the intricacies and hurdles that had to be overcome in order to make the watch come to life.

Although he is also ever adept at keeping projects that are still under development secret, there is certainly much to look forward to from Lange in the next 20 years.

A. Lange & SĂśhne, Lange 1, 158/250 Circa 2019 , CHF 20,000 - 40,000 ∑ O A limited edition 18K white gold wristwatch with large date display, power reserve, guarantee and box

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A. Lange & SĂśhne, Grand Lange 1 Luna Mundi, 96/101 Circa 2003, CHF 50,000 - 100,000 ∑ A limited edition 18K gold set of two wristwatches with large date display, power reserve, moonphases, guarantee and box

INTELLIGENCE|GREUBEL FORSEY

Robert Greubel and Stephen Forsey are both individuals driven by the passion and love towards horology, and therefore, unsurprisingly, both settled in the Swiss watchmaking industry.

Greubel began his early career under the tutelage of his father at his family’s watchmaking workshop, Greubel Horlogerie in France. He then moved to Switzerland, joining IWC in 1987, followed

by Renaud & Papi in 1990, where he gained experience in developing complicated movements, eventually becoming a partner and director.

Forsey, took a different path, having grown up in England and heavily inspired by the fascination towards engineering and mechanics by his father.

His horological career coincidently began in 1987, where he would repair antique clocks, and eventually became the head of watch restoration at Asprey London, whilst also gaining accredition through WOSTEP. In 1992, he joined Greubel’s team at Renaud & Papi, where he would further hone his vision on complicated watches.

Later in 2004, they branched out on their own creating their manufacture, Greubel Forsey, where they would envision timepieces that

broke through from the traditional framing of timekeeping mechanisms, to pursue inventions pushing the boundary of chronometric performance. Aside from the curation of the brand, they were also at the core of every project, with Greubel focusing on the design and creation, and Forsey developing the technical areas. This partnership has demonstrated great executions with their unique inventions, receiving numerous awards and establishing a technical and finishing benchmark for much of the industry.

Among their impressive portfolio developed over the past 16 years, technical innovation is certainly a guaranteed element in every timepiece, from a relatively simple (in their sense) Différentiel d’Égalité to a much more intricate and involved complication like the Grande Sonnerie. They continue to explore the boundaries in a modern fashion, and yet with a deep respect for the traditional watchmaking codes, embracing all the challenges that represents. Greubel and Forsey have shown a particular interest in the tourbillon, which Abraham-Louis Breguet invented, but in a way that is not well-adapted to modern

Greubel Forsey, Signature 1, 07/11, Circa 2018 CHF 60,000 - 120,000 A limited edition 18K white gold wristwatch with exposed balance, certifcate and box

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wristwatches. The company has done considerable research into how the tourbillon mechanism can be adapted to today’s wristwatches, and lifestyle, such that its basic purpose of improving chronometric performance functions optimally. This has led them to develop no less than three proprietary tourbillon escapements: the Double Tourbillon 30°, the Quadruple Tourbillon and the Tourbillon 24 Secondes.

The fnishing of any Greubel Forsey timepiece is as impeccable as its technical innovations. The movement is developed and manufactured in their farm and atelier in La Chaux-de-Fonds, with every component of the watch, whether it is hidden or not, hand-fnished. It is a superb leitmotiv, although this approach to artisanal craftsmanship is

very time-consuming and will inevitably lay a limit on the production number, which neither Robert or Stephen will compromise on, making any Greubel Forsey timepiece exceedingly rare.

It must be said their uniquely three dimensional approach to the architecture of the movement within the watch has given them an instantly recognisable aesthetic. Take the Signature 1 for example; it is a three-hander concept that was originated

by Didier Cretin, who is a long time member of Greubel Forsey. Even as an apparently simple watch, being the frst Greubel Forsey timepiece to not feature a tourbillon, it demonstrates the brand’s uncompromising attitude. It has a captivating depth with the semi-openworked dial, and an impressive amount of black-polished components

spread throughout, resulting in a similar approach but different execution, when compared to one of the most coveted time-only watches in the market, the Philippe Dufour Simplicity.

In contrast, the GMT is unmistakably a typical Greubel Forsey watch given the implementation of the brand’s proprietary Tourbillon 24 Secondes escapement. One highlight of the GMT reference is that it features a three-dimensional titanium terrestrial globe with universal time indicator, not only with immaculately details continental maps, it also rotates in the same direction and pace as the actual Earth, which allows the wearer to intuitively read the current time anywhere around the world.

Should someone try to put a Greubel Forsey timepiece into the formula of an argument for justifable luxury, they are perhaps not understanding their timepieces, but by looking beyond the value proposition, there is an ideological package that such a watch represents. You might get a hint if you look closely at the value relief engraving in some of their timepieces, which literally spells out the brand’s ideals, as dictated by Robert and Stephen. While their production remains highly limited, there is a foreseeable increment of importance in the brand and their timepieces, with the connoisseurs now paying more attention than ever on ultra-high-end independents.

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Greubel Forsey, GMT Tourbillon, Circa 2016 CHF 140,000 - 220,000 A platinum dual time worldtime wristwatch with tourbillon regulator, power reserve, certifcate and box

2000-2005 WATCHMAKING It is incredible to look back, with 20 years of hindsight, at the year 2000, recalling all of the incredible events that took place, and how they came to define the modern watch industry in so many ways.

As we collectively transitioned into the new millennium, George Daniels was assembling his frst serial production watch containing the coaxial escapement, that he had fought so hard for the industry to recognise its superiority to the lever, eventually leading to the Swatch Group’s adopting it for scale production. The project to produce the Millennium wristwatch would also provide excellent training for a certain Roger Smith, who has gone on to evolve the co-axial in his own way, through further development.

Daniels is viewed by many as the father of modern independent watchmaking, providing a viable model for the enterprise, publishing what has become the bible for those looking to produce a watch from start to fnish, and even establishing an educational trust from the proceeds of his estate; it seems extremely appropriate that the twilight years of his career were to be the starting point for another like-minded watchmaker. François-Paul Journe has often referenced Daniels as an inspiration, even presenting him with a watch and writing a heartfelt dedication following his passing. 2000 would signal the launch of Journe’s namesake brand with the arrival of the Resonance and Tourbillon models, and would be the beginning of the path to great success for the man and his company.

Like Journe, Philippe Dufour had done signifcant work for other brands (both had developed sonneries for watches that did not bear their name) before establishing his workshop, and the year 2000 would witness the arrival of a watch that came to defne the legacy of Le Sentier residents. Saying that the Simplicity is a time-only watch is akin

to saying that Michelangelo’s David is a marble sculpture; for many collectors, the least complicated Dufour (when compared to his landmark Grande Sonnerie and innovative Duality) has become an absolute grail and a synonym for a virtually perfect execution of a wristwatch.

There were a few key independent watchmakers toiling away at their workbenches during these years, but at the same time there were a few names from the AHCI who had grander ambitions. 2000 to 2005 saw the expansion of brands such as Franck Muller and Roger Dubuis from small artisanal workshops into sizeable brands encompassing in-house production facilities and sophisticated marketing teams, fuelled by external investment and new partners.

Roger Dubuis would eventually be sold to Richemont at the tail end of group expansion, that also defned this period, with Johann Rupert’s group adding A. Lange & Söhne, IWC, and JaegerLeCoultre to their portfolio in 2000, having already secure the outstanding shares the Vendôme Group comprised of Cartier, Montblanc, Piaget, Baume & Mercier and Vacheron Constantin, among others, in the later part of the 1990s. In late 1999, LVMH would acquire Zenith and TAG Heuer, providing the foundation for their watch holdings that would grow through the next 20 years.

A transitional period for the watch industry as a whole, these fve years at the start of the new millennium would prove to be extremely infuential for the business of horology.

INTELLIGENCE|FOLLOWING THE STARS

Astronomy has long been one of the deepest fascinations of humankind, whether we consider the very planet we inhabit, our solar system, the Milky Way, and the galaxies that are thousands of light-years away, there are never-ending explorations given the indescribable scale of the universe. Perhaps it is the unknown that powers our curiosity, and to seek advancement in science, or simply because the deeper we make observations into space, the further we can, quite literally, look back in time; and maybe if we look far enough, answers might present themselves that fulfll our urge in understanding cosmology.

Time itself is certainly closely related to astronomy, as the beginning of time telling was purely based on observation rather than calculation, where natural events became the earliest measurements of time: daybreak, sunrise, noon, sunset and darkness. Even after clocks and pocket watches were invented, the observation has never stopped as astronomers will continue to look up into the sky, discovering the universe with its plethora of celestial objects and phenomena that we can only observe and ponder on.

One observation, which was brought about by our desire to categorise and divide time into regularly measurable intervals, is the inconsistency of length of a day throughout a year, in short, the difference between Local Apparent Time (LAT) and Mean Solar Time (MST). The 24 hours we are familiar with, themselves divided into 60 minutes, only represents MST. In fact, LAT, which is when the sun appears at the same point in the sky each day,

say, the highest point, actually varies throughout the course of a year, with the difference ranging from minus 16 minutes and 23 seconds on November 4th to plus 14 minutes and 22 seconds on February 11th, with variances within that range also related to your exact position on Earth.

Such discrepancy is caused by the effect of the elliptical orbit of our planet and its tilted axis of rotation, with this astronomical phenomenon inspiring the complication, namely the equation of time, to display the excess or defciency to the mean solar time.

In the Jules Audemars Equation of Time by Audemars Piguet, the complication is displayed with an extra hand, pointing at markers engraved on the bezel. As per the owner’s request, the desired location and its mean noon time will also be imprinted on the opposite of the equation of time markers, and the appropriate cam will be ftted to the watch according to said location, allowing a speedy observation of the true noontime of the day.

On top of that, the subsidiary dials at three and nine o’clock display the sunset and sunrise time, again at the specifc chosen location. The watch also features a perpetual calendar and an astronomical moonphases instead of a horological moonphases, which provides for a much more precise reading of the moon.

While the above timepiece covers the celestial events during the day, the following one covers the movement in the sky at night. The Patek Philippe 5102 Celestial captures the charm of the nocturnal sky and transforms it into a mechanical artwork

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Audemars Piguet, Jules Audemars Equation of Time, Circa 2011 CHF 20,000 - 30,000 ∑ A 18K white gold perpetual calendar wristwatch with moonphases, equation of time and time of sunset and sunrise

Patek Philippe, Ref.5102PR, Celestial, Circa 2009 CHF 110,000 - 180,000 An 18K pink gold and platinum astronomical wristwatch with sky chart, phases and orbit of the moon and time of Meridian passage of Sirius and of the moon, certifcate and box

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for the wrist; the stunning visual components of the complication really do not need much of an introduction. The dial is composed of three layers of superimposed sapphire discs, flled with stars, the Milky Way, Sirius, which is the brightest star in the night sky, and the moon in its progression phases, all rotating in real time to compose a celestial image. Elements that appear inside the elliptical white frame would also appear identical if observing the night sky from any city with the same latitude as Geneva.

positions, rotates counter-clockwise at a rate of 23 hours, 56 minutes and 4 seconds (sidereal day), while the second disc, that indicates the meridian passage and angular motion of the moon, rotates counter-clockwise at a rate of 24 hours, 50 minutes and 28 seconds (lunar day). Though inherently mathematical, the concept makes it challenging to fnd the optimal gear ratio to accommodate such complex complications accurately, with the thought and effort that goes into the watch making it as beautiful as it appears.

The diffculty in creating the movement lies upon the difference in rotational interval between elements, and to achieve high accuracy on the overall complication. The Mean Solar Time is displayed on this reference with skeletonized feuille hands, while all other celestial indications are on two sapphire disc that rotate at different rates, as follows: the frst disc, which consists of the meridian passage of Sirius and the star

Through the development of these two timepieces, it is further proof that astronomy and horology are really inseparable enchantments, that evoke the curiosity of humankind and celebrate its celestial discoveries. Above their technical achievements, it’s their quiet beauty that appeals, along with a reminder that our universe extends well beyond our habitual time frame.

SCHOLARS|GIULIO PAPI

It would perhaps be easy to conclude, looking at the variety of watches available on the market today, that their development is straightforward. We have powerful technological tools at our disposal that can assist in design and production. Reaching out to colleagues is either through messaging, or as we have become all too familiar in recent months, video conferencing. Space age materials are accepted within the luxury sector, such that it is no longer constrained by the old assumptions of haute horology requiring precious metals. And yet, none of this would be possible without the technical know-how of the watchmaker, an age-old science that has not radically changed, in terms of the basics of power storage, release and measurement.

Even the people with the most powerful marketing messages, capable of generating a reality distortion feld around them, need the watchmaker that will bring their vision to life.

We have already presented some of the most impactful watchmakers of the modern era; extraordinarily though, many of them are all linked to a common thread, a place which gave them inspiration and cultivated the skills that would take them to the next level: Audemars Piguet Renaud & Papi (APRP). The fact that Anthony de Haas, Robert Greubel and Stephen Forsey all worked there immediately prior to their current positions indicates that APRP is a fertile training ground for the modern master watchmaker, but it also points to an environment where creative thinking, beyond the pure assembly and production process, is encouraged; much of that credit can go to one of APRP’s founders, Giulio Papi.

Renaud & Papi was originally established in 1986

by Dominique Renaud and Giulio Papi. Both were watchmakers at Audemars Piguet, which was a very different, more traditional watch

brand then (the Royal Oak notwithstanding). The watchmaking ethos at the time was that you needed to spend many years going through the motions on decorations and fnishing before you were allowed to move onto complications. That time frame did not suit the young Renaud and Papi, who decided to hit the fast forward button by opening their own workshop, focusing primarily on these complications they were so keen to develop. Papi was particularly infuenced because he felt that the mechanical watchmaking industry had not evolved much since the mid-1930s, with an apparent obsession on chronographs, but not much else. He could see the potential that all these modern tools and sciences could bring to restarting the research and development aspect of watchmaking, and thus Renaud & Papi was born.

The frst executive to entrust them with a project was none other than Gunther Blümlein, who tasked R&P with a modern minute repeater mechanism for IWC and Jaeger-LeCoultre. Other brands started knocking on the door (Blümlein also enlisted R&P for the calibre development on the initial A. Lange & Söhne collection, unveiled in 1994), leading R&P to seek a fnancial partner to help them grow; Audemars Piguet’s CEO, Georges-Henri Meylan, believed in them and the Le Brassusbased company bought a controlling stake in 1992, the proviso being that R&P would be allowed to continue working for other brands.

APRP (as it has become known since 1992) would be instrumental in the launch of one brand in particular, as Richard Mille shared Giulio Papi’s thinking that the watch industry was too staid and needed to be much more explorative and daring with the material choices and their application throughout the watch. As you may have guessed, this would be the genesis for Richard Mille in 1997,

Richard Mille, RM005-1, 201/300, Circa 2007 CHF 25,000 - 45,000 A limited edition titanium tonneau-shaped skeletonized wristwatch with warranty and box

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which truly broke ground on the established norms of what constituted a high-end luxury horology.

Watches no longer had to contain platinum or gold to be considered luxurious and valuable, and complications did not have to be handled with gloves, in fear of shocks or even daily wear.

You can take a look at any Richard Mille watch to readily see where the traditional rules were completely re-written, and how the codes that were established from the inception of the brand carry forward today. The tonneau case shape that is represented remains a signature design, with the bespoke screws on the periphery. The RM002-V2 is equipped with one of the most classic mechanisms, the tourbillon, but the carbon nanofbre serving as its baseplate is resolutely modern, yet perfectly adapted to watchmaking as it is extremely stable, displaying little, if any, expansion or contraction across a wide range of temperatures, making it an ideal foundation for a watch. These features

are carried forward to the RM015, which gains a dual-time function, showing that a tourbillon is just as well-suited (if adequately protected) for a sporting marine environment. On the other hand, the RM005 is the brand’s statement that its concepts are wide-ranging and can be applied to an automatic, time and date calibre, which adapts to the wearer’s lifestyle with a variable geometry winding rotor.

Although the company has been re-named Audemars Piguet Le Locle, as it is now wholly owned by the brand, it continues its storied collaboration with Richard Mille, designing and producing the higher end timepieces from its collection, as well as contributing to other client brands across the industry. Giulio Papi is still as motivated as ever by his desire to move the horological arts and sciences forward into the future, as he puts it, “to reform watchmaking”.

Richard Mille, RM002-V2 AE PG, Circa 2003 CHF 100,000 - 200,000 A 18K pink gold tourbillon wristwatch with function selector, power reserve and torque indication

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Richard Mille, RM015, Perini Cup, Circa 2008 CHF 70,000 - 140,000 A 18K white gold tourbillon wirstwatch with dual time zone, power reserve, torque indication, warranty and box

ICONS|AUDEMARS PIGUET ROYAL OAK CONCEPT CW1

It is hard to imagine now quite how much of a seismic shift the frst Royal Oak Concept watch represented for Audemars Piguet when it was launched in 2002. One of the hallowed “Big Three”, alongside Patek Philippe and Vacheron Constantin, these companies are lauded for their exceptional craftsmanship and revered heritage but, with a few exceptions, are not renowned for their contemporary design languages or use of avant-garde materials. The Royal Oak Concept CW1 changed that.

Launched to commemorate the 30th anniversary of the original Royal Oak, which arrived as the reference 5402 “A-Series” in 1972 that has become so coveted by collectors, the Royal Oak Concept was not the frst major update to the now iconic line. That arrived in 1992 for the 20th anniversary of the model, when Emmanuel Gueit turned his pen to the iconic Gérald Genta design language to create the Royal Oak Offshore, a line that has proven extremely successful for Audemars Piguet and has spawned many an imitator.

While the Offshore beefed up the proportions of the Royal Oak for a modern era and the addition of more complications, the Concept was a very different affair, that had the aim of introducing a futuristic design language utilising cutting edge materials, in addition to offering a canvas to showcase the very best of traditional complicated watchmaking techniques. Perhaps no easy task, but with Claude Emmenegger taking up the mantle for the aesthetics, and the now legendary Audemars Piguet Renaud & Papi handling the movement, there were certainly the right ingredients for success.

The externals of the watch deserve consideration frst, as the case design is a fascinating examination of how instrumental the Concept was for the marketplace as we know it today. First it was particularly large for the era at 44mm, but the dimension has become very much the norm since, and its extended ergonomic curved form hangs over the wrist to make the piece eminently wearable.

With the DNA of the Royal Oak clearly on display though the bezel and hexagonal “screws”, in profle

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Audemars Piguet, Royal Oak Concept Tourbillon Circa 2007, CHF 150,000 - 300,000 A unique alacrite, carbon and titanium tourbillon wristwatch with power reserve, dynamographe, function selector, warranty and box

its curve fows into the extended lugs that continue into a Kevlar (commonly used for ballistics protection) strap that is affxed with screws from the reverse.

The bezel is in lightweight titanium while the main body is made of alacrite 602, an alloy containing cobalt, chromium, tungsten nickel, iron and carbon, that was developed for the aerospace industry but has found further use in medical implants due to its biocompatibility, rather ftting for something sitting against one's skin. A big challenge was machining and fnishing such a robust material, which was able to take on a beautiful polished surface that was highly scratch resistant but would wear out the tooling in the process. It might explain why, until now, the Concept is the one timepiece to have been produced in the material.

It is worth taking a moment to cover the relationship between Renaud & Papi and Audemars Piguet, one of the most strategic alliances of the contemporary watch industry, a format that has now become commonplace at other maisons. It is well known that Dominique Renaud and Giulio Papi found a

start in Le Brassus before seeing an opportunity and setting up on their own, and their wild laboratory has become a fertile ground for many now established watchmakers, as well as brands looking for some technical magic, the most well-known of which, outside of Audemars Piguet (which helped fund the startup and was a majority shareholder), is Richard Mille. The frm would eventually be named Audemars Piguet Renaud & Papi (APRP) when the brand acquired the remaining stake in 2000.

Part of the magic of the Royal Oak Concept and its calibre is the way in which it displays the movement’s workings without being overbearing, showing a selection of the gears that run the calibre without feeling cluttered. The function selection for the winding and setting and the dynamographe that shows the torque in the barrel are diametrically opposed, providing balance, with the tourbillon mounted below its distractive snaking bridge on the “standard� watch (intended to provide increased shock protection), offering a symmetry to the 72-hour power reserve indicator. Of course, the fnishing is to the highest standard, set against an avant-garde architecture.

The Concept was redefning in other ways as well; at the time, the packaging for watches was rather austere and a far cry from the elaborate set ups that we see today from several brands, but the Concept was perhaps the catalyst for a move to a more extravagant presentation, housed in an aluminium and perspex display case that adds a element of theatre to the unboxing experience.

Produced in an edition of 150 pieces destined for Audemars Piguet’s most privileged clients, together with a small batch of unique pieces that featured an even more cutting edge carbon baseplate, straight tourbillon bridge, coloured gearing and uniquely engraved bridges to the reverse, those who acquired them have been particularly loyal, with few resurfacing.

The success of the Royal Oak Concept CW1 is exemplifed by the fact that a reference originally intended as a short run has now spawned a whole model range, from the Concept Carbon in 2008, the Concept Laptimer Michael Schumacher in 2015, the Concept Supersonnerie in 2016 and even a more diminutive cased version in 2018 intended for those with smaller wrists, as well as a myriad of other interactions in between. A genre defning watch that has provided inspiration for so many, the Concept has frmly cemented its place in horological history.

2006-2010

WORLD While culturally, the early 2000s looked, in many ways, like the late 1990s, there were changes underfoot that would provide the catalyst for significant changes across multiple industries.

The second half of the 2000s would prove to be as eventful as the frst, with a variety of highs and lows that would have an outsized impact across all facets of the global marketplace. With a number of exciting efforts already in place for the earlier half of the decade, particularly in the technological space, the timing would be right for a number of key products to make their debut.

The period would be defned by the arrival of the smartphone, the watershed moment occurring with the unveiling of the frst iPhone in 2007. While there had been comparable devices prior to Apple’s, its full feature set, connectivity, and ease of use, made it a commercial success and redefned the company, putting it on the path to becoming the frst trillion dollar company. The smartphone in general, be it from Apple or the multitude of Android powered options, its ever improving camera capabilities, and its associated apps provided the platform for mobile frst products such as Instagram that was launched in 2010, becoming a dominant force in the social media space. This degree of connectivity through digital messaging would also provide the catalyst for the beginning of the Arab Spring popular uprisings, as well as grassroots campaigning during the 2008 US presidential elections that would see Barack Obama elected, proving the power of social networks.

For many, the era is marked by the subprime mortgage crisis that would begin in 2007 and lead to the Great Recession, taking such storied institutions as Lehman Brothers into bankruptcy, causing many to take a long hard look at international banking policy. While the situation was embedding in 2008, there were some brighter spots, particularly in the scientifc community, with the Large Hadron Collider at CERN making its frst tests in September of that year.

Another pivotal moment that occurred the same month was the launch of the SpaceX Falcon 1 rocket, becoming the first privately developed liquid fuel rocket to achieve orbit around the Earth. This milestone would open the door for private space flight and cargo deployment, through the rapid development of the SpaceX program to use reusable components such as its Dragon capsule and Falcon 9 launch systems, dramatically lowering the associated costs with space travel. At a rather lower altitude, the Airbus A380 would enter service in 2008, ushering in a new age for air travel as the first full-length double-deck aircraft, and the largest passenger airline to have ever flown.

An event that would have little impact in the years that immediately followed, but would become the roots for a dominant topic later was the publication of a paper on the cryptocurrency bitcoin paper in 2008, under the name of Satoshi Nakamoto’s publication, and the mining of its genesis block in 2009. While the early uses for the decentralised digital currency were rather nefarious, Bitcoin eventually became increasingly mainstream together with a variety of other cryptocurrencies, and their underlying blockchain distributed ledger technology has seen a numerous other applications, including in the horological world, where some brands are deploying it for recording and authenticating watches.

2006 to 2010 would establish so many core ingredients for future development across sectors, it is fascinating to reflect on the period now, where so much was hiding in plain sight and didn’t receive the attention that it deserved at the time. Hindsight is certainly 20:20.

SCHOLARS|THIERRY STERN

The top-tier leadership in any large scale organisation is of absolutely paramount importance, guiding day-to-day decision making while having a clear vision for the distant future of a company.

In the watchmaking industry, it has the added layer of complexity that a CEO has to not only preserve their business’ ideals and values, but for those who head manufactures seen as cornerstones of the industry, have the entire weight of the centuries of watchmaking craft on their shoulders.

This makes it all the more impressive when those in charge are able to deftly navigate one of these most storied maisons through the good times as well as challenging circumstances, maintaining a position in the marketplace, and growing it to even greater successes. A closer look at the position of Patek Philippe now is a clear indicator of the strength and fortitude by the company’s current CEO, Thierry Stern.

Established in 1839, Patek Philippe has long held a position at the very pinnacle of watchmaking, producing an extensive range that embodies what true fne watchmaking represents. Exceptional fnishing, entrancing complications, unwavering chronometers, and designs that are praised by many, the maison offers a fascinating case study in how to respect tradition while remaining relevant in contemporary culture.

Stern’s path to his position at the helm of the company is particularly interesting, being one of multiple generations of his family to have run the business. Following its founding in the 19th century by Franciszek Czapek and Antoni Patek, who would go their separate ways after six years, with Patek joining forces with French watchmaker Adrien Philippe, the company would have a long history of innovation and collaboration, both within the families in charge, and the valuable suppliers who contribute to their magnifcent watches.

One such business would be the Fabrique de Cadrans Sterns Frères, who would provide the component that for many owners in the face of a watch, the intricate dial utilising a host of intricate artistic techniques to render something both highly legible and especially beautiful. Run by brothers Charles and Jean Stern during the depths of the Great Depression, Sterns Frères would take over Patek Philippe in 1932, bringing the distinguished family name to the house of the Calatrava cross, perhaps one of the most fruitful unions that has ever existed.

The Stern family would quickly have an outsized impact on the business, propelling it to new heights. Charles’ son, Henri, would establish the Henri Stern Watch Agency in New York in

Patek Philippe, Ref.5960P, Circa 2009 CHF 30,000 - 50,000 ∑ A platinum annual calendar chronograph wristwatch with certifcate and box

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Patek Philippe, Ref. 5270R, Circa 2016 CHF 70,000 - 110,000 A 18K pink gold perpetual calendar chronograph wristwatch with certifcate and box

1935, a shrewd move that was no doubt inspired by the wealthy clientele in North America, such as Henry Graves Jr, owner of the so-called Super Complication, whose sizeable reserves of capital had insulated them from the economic downturn.

Henri’s success in the United States would result in him taking the reins in 1953, becoming president of Patek Philippe.

His time in charge would coincide with many important events, including the stellar run of legendary references such as the 2499 perpetual calendar chronograph and the 2523 world time, the launch of the Nautilus in 1976 and the debut of the Calibre 89 for the brand’s 150th anniversary, a watch that would also signal the arrival of computer

aided design at Patek Philippe, an important step forward for the company. Henri’s son, Philippe, would become president of Patek Philippe in 1993, being an excellent custodian for the company as mechanical watches witnessed a revival after the quartz crisis, carefully increasing production to keep up with demand, and initiating a number important marketing efforts such as the now famous "You never actually own a Patek Philippe.

You merely look after it for the next generation”, as well as launching the Patek Philippe Magazine for owners.

It would also be a period where the heritage and craft of watchmaking at large would become incredibly important, as collector’s scholarship

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Patek Philippe, Ref.5951P, Circa 2015 CHF 200,000 - 400,000 ∑ A platinum cushion-shaped single button split seconds chronograph wristwatch with perpetual calendar, moonphases, day and night indication, certifcate and box

improved, techniques from the past were revived, and important vintage references elicited heated bidding battles in auction rooms. Philippe oversaw the opening of the Patek Philippe Museum in 2001, a location in central Geneva containing over 2,000 exhibits and 8,000 horological publications, not just on Patek Philippe but the whole horological landscape, with the inconspicuous building earning a reputation as a place of pilgrimage for collectors.

With all of this history behind him and a family name that carries such gravitas, it is easy to have the quote from Shakespeare’s Henry VI, Part 2, “uneasy lies the head that wears a crown” in one’s mind when considering Thierry, but since succeeding his father as president in 2009, he has handled the role with an energy and charisma that has been extremely well received by the collectors’ market and industry alike. Witnessing the name Patek Philippe enter wider popular culture, thanks

to name drops in chart topping songs and appearing on the wrist of some of the most distinguished personalities, as well as introducing the Grand Exhibition concept to intentional audiences in London, New York and Singapore, Thierry has ensured that the ambassador aspect of running the business has been extremely well covered.

Perhaps the most exemplary aspect of his leadership has been his ability to mix this storytelling component with impressive technical achievements, debuting multiple important novelties during his time at the head of the company. From spectacular grand complications to carefully refning iconic models such as the Nautilus for its anniversary, it is clear that the stewardship of Patek Philippe is in very safe hands with Thierry Stern, and we can no doubt look forward to him instilling the same virtues in the next generation for this family business.

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Patek Philippe, Ref 5207P, Circa 2012 CHF 350,000 - 700,000 ∑ A platinum minute repeating perpetual calendar tourbillon wristwatch with leap year indicator, day and night indication, moonphases, certifcate and box, double sealed

MUSINGS|THE MODERN WORLD TIME

The invention of the world time complication was based on time standardisation, a concept that was frst proposed by Sir Sanford Fleming, a Canadian railway engineer that was frustrated in missing connecting train rides due to the time differences between towns. From this, he envisioned a system that could resolve the unpleasant travelling experience, and also to accommodate the time differences around the world: an idea of dividing the 360 degrees of longitude around Earth into 15 degree slices, equaling 24 time zones that conveniently ft into the number of hours per day.

The idea was eventually adopted at the International Meridian Conference in 1884, alongside with the establishment of the prime meridian passing through Greenwich, London.

As the standard time system came to be realised, it was also then implemented into a tool that yielded even more convenience to travellers in the past. A complication invented by the watchmaker Louis Cottier, the world timer featured a rotating wheel imprinted with a 24-hour marker, with each pointing at one, or multiple signature cities placed on the outer edge of the dial. The design

harmonised the complicated information into a neat display, which was a great success during the 1930s and consequently adopted by different brands such as Agassiz (now Longines), Rolex, Vacheron Constantin and Patek Philippe, to name just a few.

In modern days, although electronic formats have become the prominent way of accurate time telling, the world time complication still remains as some travellers’ tasteful preference, if not the milestone of horological evolution, and to the fne watchmaking house of Patek Philippe, it has become one of its most iconic models. The reference 5131, introduced in 2008, was the frst modern world time example to include the long-absent cloisonnÊ enamel dial since the very frst world time reference 1415 of 1939, which both depict a selection of the continents including the Americas, Europe, Asia, Africa and Oceania depending on the exact version of the reference, within the enamel artwork. It is particularly stunning when you consider the realism achieved through this rather delicate artform, which starts with the engraving to create the relief of the continents, then will then receive multiple

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F.P. Journe, Octa UTC Black Label, Circa 2014 CHF 35,000 - 70,000 A platinum dual time wristwatch with power reserve, date, warranty and box

layers and fring of enamel in order to achieve the required colour depth and translucence to depict the world map. The two tones of the 24-hour ring are used as a day or night indication.

At an alternate point on the spectrum for the complication, there is the interpretation of world time, dubbed the UTC, by one of the greatest watchmakers of our time, François-Paul Journe. As suggested by the name of the watch, which stands for Universal Time Coordinated, the watch depicts 24 full hour time zones, including the local and home time displayed on the familiar offset dial. At the seven o’clock position, there is a globe disc that rotates over the course of a day, and was painted with four colours to visually separate areas around the globe with different time zones, allowing for an intuitive reading by the wearer. In addition, there are also markings on the perimeter that aid the reading of summer and winter time, where applicable.

As for the movement, it is an Octa base calibre developed specifcally for Journe’s automatic timepieces, with a retrograde power reserve indicator and a big date also incorporated. The genius of the Octa movement lies on the low torque

of the mainspring, meaning not only that the rate stability is less susceptible to the depreciation of energy, it also allows a better winding performance for the impressive 120 hours, or 5 days of power reserve, despite the thinness of the movement.

Another ingenious design feature is the crown’s capability of multiple adjustments, achieving different settings by rotating clockwise and anticlockwise in every position. That way, it eliminated a lot of hidden pushers, and the responsibility of what the respective pushers might adjust. Such a design has become one of the characteristics of several F.P Journe timepieces, on even some of the most complicated references such as the Astronomic Souveraine, has all 18 complications adjustable from a single crown.

Since the establishment of standardised time zones, which have evolved over time from the original 24 full hours into half-hour offsets, or even threequarters hour offsets, there have consequently been some honourable developments that have tackled this evolution. However, the classical 24 time zone division remains the preferred approach to most as the best balance between practicality, complexity and elegance.

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Patek Philippe, Ref 5131G, Circa 2012 CHF 80,000 - 140,000 A 18K white gold world time wristwatch with cloisonnĂŠ enamel dial, certifcate and box

SCHOLARS|FELIX BAUMGARTNER & MARTIN FREI

For many watch brands, there is a singular person put forward to be its embodiment, for the human element is critically important. It is that connection between the creator and the collector that reinforces the emotional attachment that we have to our timepieces. More often than not, it would be the technical mind who takes the lead, the one who cleverly takes the basic mechanical elements of a watch and gives them a life; this is akin to the left side of the brain, where the rational and scientifc thoughts occur. Of course, the right side of the brain provides the creative and artistic thoughts, but it is actually quite rare that these individuals are named, or even get to meet the people who buy and appreciate watches. There are defnitely some well-known designers, although it seems that their names seldom end up on the dial of the watch, maybe because their creativity is not bounded by a single brand or design ethos, and they like to express themselves by working with different companies over the years.

Then we have the rare, true partnerships between both sides of the brain, that happen to work in unison, effectively complementing each other in a coherent fashion. It’s even more rare when these

collaborations endure over decades, as is the case with Felix Baumgartner, the watchmaker, and Martin Frei, the designer, who are the co-founders of Urwerk.

Baumgartner is the third generation of a watchmaking family from Schaffhausen, in the Swiss German part of the country. He and his brother Thomas (also a watchmaker) by chance met Martin Frei, when they got around to discussing time in a more philosophical way, from how it is currently measured to how there are various ways of displaying it. Part of this came about from experience that the Baumgartners had, from their father’s workshop, restoring a 17th century clock made by Giuseppe, Matteo and Pietro Campani, Italian brothers who, at the request of Pope Alexander VII, built a clock that addressed two specifc problems: the noise from the escapement and the inability to read the time at night. They developed not only a silent escapement, but also a system of wandering hours that were illuminated by candlelight, whereby the hour display would move through an arc, like a celestial object moving across the sky, and would disappear just as the next hour appeared at the beginning of the arc.

These wandering hours are what inspired Felix, Martin, and Thomas to create a watch brand called Urwerk in 1997, wanting to produce timepieces that merge the traditional fundamentals with a futuristic vision. The name comes from Ur, a major city in ancient Mesopotamia (where southern Iraq would be today), and the German word “werk”, which does mean “work”, but also refers to creation, evolution, and triggering emotions. It is inarguably the perfect brand name to be associated with the creations that Felix and Martin and collaborated on since then. Although Thomas would eventually leave in 2004 to pursue his own projects, the partnership between Felix and Martin, cemented in 1997, is as strong as ever today.

Their frst watches, the UR-101 and UR-102 were unveiled at Baselworld in 1997, with the wandering hours across the top of a round case. Perhaps the collectors’ community was not quite ready for this vision, or it could be that it did not go far enough into the future, for it took a few years before the brand found its footing with the UR-103.01, unveiled in 2003, still with the wandering hours, but this time at the bottom of an unusual case that cannot be described by a single word. It might appear rectangular at frst, until you notice that the bottom is curved, and there is a semblance of a dome across the top, where the wandering hour mechanism is housed. You only get a glimpse of it though, as the hour display sweeps across, its position within that arc being the current minutes.

From then on, Urwerk has developed the wandering hours and related alternative displays in directions that few could have imagined. The UR-202, frst presented in 2007, has a considerably more

complex mechanism for the wandering hours, where telescoping hands ensure that the minutes are more precisely indicated and easily read, while also allowing the power reserve and the moonphase displays to be visible underneath. Although the watch is automatically wound, it is equipped with a twin turbine system that can be adjusted to affect the rotor’s movement, depending on whether the wearer is more static (where it needs to spin more freely) or moving dynamically (in which case it needs to be dampened).

Felix and Martin remain heavily inspired by traditional watchmaking, although there is certainly more of an infuence from the ones that broke those codes before them. The UR-111C eschews the satellite wandering hours with a roller system that shows the retrograde minutes moving laterally across the display, fanked by jumping hours on the left, and rotating minutes on the right. The seconds are shown on the top of the case through an ingenious optical fbre system that makes it look like it's a digital display, when in fact there are two openworked wheels. The UR-111C is a direct descendant of an earlier Urwerk piece, the UR-CC1 Cobra, which was a tribute to a futuristic Patek Philippe watch with a linear time display, developed by Louis Cottier in 1959.

It’s when Felix and Martin present their creations in person though that the thought and inspiration genuinely transpires, as they take turns explaining the thought process that went into each and every detail of their timepieces. And there is every indication that the past twenty years might only be a starting point for Urwerk.

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Urwek, UR-103, 12/25, Circa 2003 CHF 15,000 - 25,000 ∑ A limited edition 18K white gold chronometer wristwatch with threedimensional satellite hour display and fne adjustment, warranty and box

Urwerk, UR-202, Circa 2015 CHF 30,000 - 60,000 A limited edition titanium wristwatch with three-dimensional satellite hour display, telescopic minute hand, twin turbin winding system, moonphases, day and night indication, guarantee and box

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Urwerk, UR-111C, 10/25, Circa 2019 CHF 50,000 - 100,000 A limited edition stainless steel linear time display wristwatch with gunmetal fnish, guarantee and box

2006-2010 CULTURE For the core cultural artefacts of society, the latter portion of the 2000s would be defined more by the way in which users consumed media rather than its production.

With Netfix pushing into streaming in 2007 (away from their traditional model of shipping DVDs to subscribers, which competed with video rental stores), and Spotify launching in 2008, a subscription service that provided immediate access to a vast array of content would come to defne music and video. In a similar vein that was also fostered by the age of high-speed internet and smartphones, podcasts would see increased traction as mainstream media networks would share their content for easy listening at any time, causing radio to lose more of its sparkle, and Google’s acquisition of YouTube would really propel the platform into the hearts and minds of consumers and creators.

On screen, the epic science fction movie Avatar would become the highest grossing movie of all time, holding the title for a decade, reinforcing the potential of computer generated imagery and motion capture in cinema. Christopher Nolan’s signature style and intricate narratives would proliferate with the arrival of the second instalment of his Batman trilogy, The Dark Knight, and his landmark cinematic experience Inception, premiering in 2008 and 2010 respectively. A number of TV shows that have become core parts of popular culture across the genre spectrum, including Breaking Bad, The Big Bang Theory, Mad Men and Downton Abbey would see their initial episodes air during this timeframe, becoming among the last series’ that would have peak viewership on broadcast TV before an exodus to streaming services.

The emergence of Beyoncé as a solo artist and her marriage to Jay-Z, forming one of the most defning power couples of the modern era, had a profound impact on the musical landscape during this period.

Their long time musical collaborator, Kanye West, would continue his move away from the production desk to become an artist, releasing a transitional series of albums that would show the evolution of his musical style. West’s frst collaboration with Nike in 2009, the Air Yeezy, would provide the frst components for his highly successful move into fashion and cross category design.

A new generation of games consoles, spearheaded by the Xbox 360, PlayStation 3 and Nintendo Wii, would put increased emphasis to online gaming, and blend the real world with the virtual one through games like Wii Sports, and hardware that included motion sensors and camera arrays in the Microsoft Kinect. A new device to arrive in a very different sector was the Amazon Kindle in 2007, allowing the “everything” store to sell more ebooks than physical books within just a few years of its launch, a frst foray into the hardware space that has now become a valuable pillar for the company.

In architecture, the period would see the opening of the Burj Khalifa in Dubai which, at 828 metres, would become the tallest building in the world, and indicate a pivot for the Middle East towards a vibrant cultural scene, with the region now housing some of the world’s most important artworks.

The 2008 Olympics would bring the games to China for the frst time ever, using Beijing as the host city and housing events in a number of impressive venues, such as the so-called “Bird’s Nest” Beijing National Stadium designed by Herzog & de Meuron and Li Xinggang.

The games will be remembered by many for the incredible performance of Usain Bolt, who not only took gold in the 100m and 200m events, but achieved world record times for both races.

Motorsport would see Lewis Hamilton emerge as a formidable force, breaking multiple records in his debut season in 2007, before taking his frst world drivers’ championship in dramatic fashion the following year, gaining the last points needed by overtaking on the fnal corner of the fnal lap at the last Grand Prix of the season. 2008 would also see what many consider to be the greatest tennis match of all time, when Roger Federer and Rafael Nadal would continue their storied rivalry at Wimbledon, the Spaniard emerging the victor.

A rich cultural period across so many disciplines, it was hard to see what the next decade would hold, but it would turn out to have just as many memorable moments.

MUSINGS|BRAND EVANGELISTS

Living in an age where being an influencer is now a full-time profession, and any individual with too many horological themed videos in their YouTube history will be forcefed advertisements for inexpensive quartz chronographs promising to disrupt the staid watch industry by cutting out the middle-man, it is easy to forget that there was a simpler time.

In the days when print media was king, and turning the pages of a weekend supplement for the Financial Times or the New York Times provided a chance to see not only the latest models being presented front and centre, but also who a brand had chosen to align themselves with, was perhaps more insightful than the comment sections on an online feature or social media post. Part of the reason was the fact that the position was presented in and of its own, and the reader got a chance to make their own judgement before being bombarded by other people's opinions.

To see Leonardo DiCaprio wearing a TAG Heuer Carrera, George Clooney adorned with an Omega Speedmaster, or Roger Federer raising a trophy with a Rolex on his wrist may have not meant much to the serious watch enthusiast, but they were part of the reason for fne mechanical watches seeing broader appeal over the last 20 years.

A brand paying for a celebrity to wear their product in a campaign is how many of these endorsement deals begin, but as time progresses it is almost an inevitability that the star will become closer to the team at a given company and want to foster a stronger relationship.

Special editions in their name, interview time with major publications about how they became engaged in watches, and even combined efforts around charity endeavours might all follow, with all of this holistic, genuine, integrated projects adding the most value. One executive who has been able to foster these star friendships across multiple brands over many years is Jean-Claude Biver,

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Hublot, Big Bang "Depeche Mode", Circa 2010 CHF 5,000 - 10,000 ∑ A unique ceramic and titanium chronograph wristwatch with a dial representing a Depeche Mode album cover, certifcate and box

who started to engage celebrities at Omega, most famously landing the James Bond franchise and Cindy Crawford at the peak of her career, it was inevitable that when he left Swatch Group to take a stake in Hublot and run the company, he would fnd some highly visible allies to make the brand instantly recognisable.

Usain Bolt, JosÊ Mourinho, Masahiro Tanaka, DJ Snake, Lang Lang, Shepard Fairey have all become brand ambassadors over the years, but one of the longest lasting for Hublot has been the relationship with the British electronic music group Depeche Mode. Formed in 1980, the band has sold more than 100 million records and performed live to in excess of 30 million fans over their 40-plus year career, and in recent years have collaborated with Hublot on a number of special editions. Perhaps the most interesting was a series of 12 unique watches released in 2010, each featuring dial artwork from one of the band’s 12 album covers released so far at

the time, and came as an extremely complete package including a vinyl copy of the album featured, a digital copy of the record on a USB drive, a framed gold CD of the album, an original print of the cover and a signed photograph of the group.

What made this initial release so interesting was the fact that it was offered through an online auction, commonplace today, but truly groundbreaking at the time, with the proceeds of the 12 watches going to the Teenage Cancer Trust in the UK. There have since been a number of other Depeche Mode limited edition Hublot watches, in rather more sizeable runs, with their sales totals going to different non-profts along the way, including Charity: Water.

The Holy Grail for a brand is when you acquire an evangelist with serious star power that doesn’t even require a contractual relationship to wear your watches. There have been plenty of these in recent

Patek Philippe, Ref.5180G, Circa 2011 CHF 38,000 - 75,000 A 18K white gold skeletonized wristwatch with bracelet, certifcate and box

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years, particularly as some of the more edgy characters in pop culture may not have all their ideals aligned with a storied maison, with rappers writing entire songs repeating a brand name hundreds of times. One of the great unofficial friends of a brand in recent years has been Conor McGregor, the former mixed martial artist and boxer, who became one of MMAs most celebrated competitors.

Those who follow thenotoriousmma on Instagram, the handle McGregor goes by, will quickly identify a few watches he clearly has great affection for, particularly signature models from Rolex and Patek Philippe. A Daytona, Day-Date, and Sky-Dweller are easy to picture on the wrist of an individual with the stature of McGregor, even the Patek Philippe reference 5905 flyback chronograph annual calendar specially produced or the Dublin retailer Weir & Sons, in platinum

with vibrant green dial, is understandable given its sports disposition and Conor’s Irish heritage.

The surprise entry on the list is the reference 5180 skeletonised Calatrava with hand engraved movement and mounted on a bracelet.

An ultra-thin dress watch is not the first piece one would associate with an MMA champion, but it is clearly a watch that McGregor loves, regularly being photographed with it to the point that some collectors refer to the model by his name. What this unusual match exemplifies is that while brands might have entire market teams dedicated to finding their next “friend of the brand�, sometimes a superior product that embodies all of the historic values of a manufacturer will have sufficient draw to bring in an unlikely client through the door, be they a global celebrity, or someone significantly more under the radar.

MUSINGS|THE MODERN TOURBILLON

Today’s mechanical wristwatch still owes much of its fundamentals to the inventiveness of the horological masters of the 17th and 18th centuries.

It was then that timepieces also transitioned from stationary clocks to being transportable, and eventually pocketable. The accompanying challenge was to make them more precise as well, and mechanisms needed to be adapted to take motion and position into account. It’s AbrahamLouis Breguet who is credited with several of the technical developments that are still in use today, such as the pare-chute shock absorbing device, the overcoil on the balance spring that is still referred to as the Breguet spiral, and, of course, the tourbillon.

Conventional wisdom has generally stated that the tourbillon was invented to account for the gravitational pull on the balance wheel by continually rotating the entire escapement mechanism. Another school of thought is that it was also to help the lubrication on the parts, as the natural oils would otherwise pool towards the bottom, particularly on pocket watches, which are mostly held vertically.

Both reasons were certainly valid in Breguet’s time, but manufacturing techniques, materials, and the way watches are worn are quite different today.

Regardless, the delicate nature of the tourbillon

assembly, with a multitude of featherweight parts coming together in a magical mechanical whirlwind, continues to hold fascination amongst collectors. It’s also considered a watchmaker’s rite of passage into the higher echelons of the craft.

It is well known that François-Paul Journe built his own tourbillon, as a pocket watch as a new graduate from watchmaking school, later on as a wristwatch, which ultimately became the template for the subscription watch that led to the development of his brand. The lineage is instantly recognizable through two defning characteristics, the frst and most visible of which is the tourbillon itself. It’s unusual to see such a large tourbillon cage on a wristwatch, equally sized with the time display, and positioned along a horizontal axis as well. This makes the tourbillon’s rotation all the more fascinating to observe given its prominence.

The other characteristic is the remontoir d’égalité, or constant force device, which augments the chronometric precision of the watch by ensuring that the power delivered by the mainspring is evened out and delivered in regular one second intervals for the majority of the power reserve. As the watch evolved into the Tourbillon Souverain,

F.P. Journe, Tourbillon Souverain Black Label, Circa 2007, CHF 80,000 - 180,000 ∑ A platinum tourbillon wristwatch with constant force remontoire, power reserve and dead beat seconds, certifcate and box

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Laurent Ferrier, Galet Secret "Etoile Filante" Tourbillon Circa 2012, CHF 55,000 - 110,000 A unique 18K white gold tourbillon wristwatch with a hidden polychrome enamel dial, certifcate and box

it also gained a seconde morte, or dead seconds mechanism, whereby the second hand advances once per second rather than the increments dictated by the movement’s inherent frequency. The audible click as the remontoir releases the energy that drives the second hand is a delightful throwback to when the passage of time was less frenetic. Now that Journe has consigned this confguration to the company’s archives, a particularly sought after version are the Black Label models, with instantly recognizable black lacquer dials, rare as they were available only through Journe’s own boutiques and to known owners of F.P. Journe watches.

Similarly to Journe, the frst timepiece that Laurent Ferrier made when he launched his own brand was a tourbillon, although the approach could not have been more contrasting, with Ferrier choosing a much more classical presentation, imbued with some modern advances. Of course, the frst aspect you’ll notice (or not) is that the tourbillon is not visible through the dial; this approach was long preferred by modern brands as they felt that the tourbillon should always be visible. Historically though, the tourbillon was only viewable on the back of the watch, and Ferrier took what was considered a leap of faith at the time that collectors would get just as much enjoyment from a discreet tourbillon, visible only when the wearer would choose to take off the watch and turn it over, would be appealing. Mechanically, he augmented the precision by equipping the tourbillon with double balance springs that operate in opposite directions.

With the Classic Tourbillon Secret, Laurent Ferrier gave collectors a dial side surprise, in the form of a

second dial hidden behind a mechanically activated aperture, which can be set at the manufacture to open at a specifc time every twelve hours, or on demand through the push button on the crown.

The tourbillon remains the ultimate secret though, still only visible through the back of the watch.

The tourbillon is not the reserve of independent watchmakers though, as proven by Cartier with its Ballon Bleu de Cartier Flying Tourbillon, which brings to the market perhaps the most classical interpretation of the tourbillon mechanism, albeit in the resolutely modern lines of its highly successful Ballon Bleu collection. Its main characteristic, as a fying tourbillon, is that it is supported on a bridge on one side only, hence giving the impression that it is in mid-air when viewed from the top, emphasizing that the tourbillon carriage is shaped in the Cartier “C”. It is also one of the rare tourbillons that comes certifed by the Poinçon de Genève, or Geneva Seal, the oldest watchmaking qualifcation on record, dating back to 1886. This means that the watch has to have a movement assembled, adjusted, cased, and tested within the Canton of Geneva, with an exhaustive list of very stringent requirements on four criteria: provenance, craftsmanship, reliability and authentication.

Since its invention more than 200 years ago, the tourbillon has remained a sought after and admired example of the inventiveness and creativity of the watchmaker, not to mention a mesmerizing example of the history that every modern timepiece is imbued with.

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Cartier, Ballon Bleu Flying Tourbillon Second Time Zone, 18/50 Circa 2013, CHF 25,000 - 45,000 ∑ A limited edition 18K white gold jumping dual time wristwatch with regulator-style dial, certifcate and box

SCHOLARS|NIGO

Nigo, or Tomoaki Nagao, is one of the iconic fgures representing the Japanese fashion industry since the 1980s. During his younger years, American hip-hop music and clothing culture became one of his biggest inspirations towards his frst venture, Bape, a clothing brand situated in the heart of Harajuku. It later became one of the most coveted labels within the Asia market in the 90s, the fame of the brand had briefy started the subculture of Ura-Harajuku, which is closely related to the development of the Japanese streetwear ventures within the area.

His name, Nigo, which translates to number two in Japanese, originated from him starting just a bit shy of the legendary Hiroshi Fujiwara, who was commonly referred to as the number one in the discussion of Japanese streetwear industry.

Though they went down slightly different paths, their creations were every teenager’s statement in sophisticated fashion. Entering the new millennium, Nigo would expand his ideas into cocreation under the label Billionaire Boys Club and ICECREAM with the renown American singer

Pharrell Williams, their infuence quickly taking off aided by Skateboard P’s (as Williams is also known) dominance of the international musics charts as half of the super producer duo The Neptunes.

Spreading across streetwear and music culture throughout North America and Japan, which consequently amplifed his acclaim and elevated his altitude of success from the domestic to worldwide market, Nigo would become a defnite cultural fgure of the last 20 years.

Unsurprisingly, the curation of Nigo was far more than just clothing and music, he was also a collector in all sorts of lifestyle accessories, ranging from toys, furniture, automobiles, artworks, custom made jewellery, and watches, to name just a few.

This keen eye of his allowed him to amass an extensive and eclectic collection, that he would subsequently offer through two thematic auctions during the 2010s. His background of fashion and hip-hop culture acquired him a rather unique and meticulous taste towards his acquisition journey, that together he recreated through his lifestyle with a touch of street aesthetic.

Franck Muller, Crazy Hours Tourbillon, 05/05, Circa 2008 CHF 20,000 - 30,000 A limited edition platinum “crazy hours� wristwatch with tourbillon regulator, four additional dials, certifcate and box.

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Speaking of hip-hop, it is impossible to not mention the increasing habit of braggadocio voicing the luxurious lifestyle and perhaps, name dropping some of the most expensive watches. If there is a ranking that keeps count of the times that happen to a certain brand, Richard Mille could likely come at the top, which in return puts more cultural value on what was originally a creation to excel in the sports feld.

The RM011-FM, featured the signature tonneau case of Richard Mille, containing a fyback chronograph and annual calendar from the automatic calibre RMAC1. As you would expect with no less visual expression from Richard Mille, the sapphire dial allows you to appreciate the intricate movement manufactured out of titanium for a strong, and light construction, complimented by the carbon fbre fange and the big date in the upper centre, it has a convincing and legible

hierarchy when reading the dial. In order to accommodate the difference of lifestyle between customers, the movement featured a variablegeometry rotor in the oscillating weight, it allows six adjustable positions to create the optimal inertia.

Another brand that bears the similar tonneaushaped watch case and heavy presence in the life of Nigo and other cultural torchbearers, is Frank Muller. On their crazy hour tourbillon, it yields a totally different ambience despite being name-dropped by rappers. Just as the title of the watch suggests, the hour markers on this watch are far from sensical, with hour 1 to 12 all purposely set on the wrong position of the dial, it is physically contradictory as a wristwatch, which is further juxtaposed by embracing the tourbillon escapement. As nonsensical as it might sound, it becomes a statement, or a form of art that conveys a philosophical message for the wearer, perhaps

suggesting that nobody could understand the time better than the one who is wearing it, or perhaps just that it doesn’t matter what hour of the day it is when you’ve been partying all night.

Both Richard Mille and Frank Muller have that special cultural capital that attracts celebrities like Pharrell and Nigo, perhaps beyond the hype of Richard Mille, it is because of the innovative and uncompromising character that Williams became

a long term customer turned ambassador, coming out with collaborations like the signature RM52 with the astronaut helmet on the dial. And for Nigo, it could possibly be the daring character of his combined with the nonsensical aesthetic of Frank Muller timepieces, that caused him to once place a custom order for a watch set with diamond and the Bape logo on the dial, a combination that perhaps perfectly encapsulates the style of this era for music and fashion.

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Richard Mille, RM011, 014/150 Circa 2008 CHF 90,000 - 180,000 A limited edition 18K pink gold and titanium fyback chronograph wristwatch with annual calendar and warranty

2006-2010

WATCHMAKING The second half of the 2000s was a curious time for the world of watches, with so many volatile external factors having a tangible impact on the industry.

Yet it did not stop brands from innovating, with a number of important manufactures seeing their launch, established companies having pivotal moments with new lines that have become pillars within their collection, and organisations having changes in leadership that would guide them through stormy seas.

One of the great themes of the era was “in-house�, a term that has become common parlance today, but at the time was seen as cutting edge. With brands that had been traditionally known for sourcing calibres from external suppliers building up internal expertise to do their own movement architecture, the efforts were particularly prevalent at groups, where centralised teams would assist sibling brands with development projects.

The major motivation for all of this was the realisation that, as demand grew for mechanical watches during this renaissance period, driven by new clients from emerging markets, those who controlled the supply of movements would look after their own interests frst.

This sizeable capital deployment to acquire talent and build up manufacturing capabilities for inhouse calibre production would have a knock-on effect in other areas, particularly in marketing and branding. To make consumers aware of a brand’s innovations required sustained communication campaigns, and with the rise of digital, advertising would move from the printed page to online platforms with impressive video presentations.

Partnerships with top fight sports franchises would be fercely fought over by brands looking for an edge, and celebrity ambassadors would really come into their own, their wrist real estate becoming a hot commodity to ensure that the latest novelty appears in the paparazzi photographs of A-list actors and musicians.

With the beneft of hindsight, such large scale investment right before a big economic downturn was perhaps not the most prudent decision, but it did give rise to some crazy complications and increasingly wild design languages. It would also provide fertile ground for some of the new independents, the Great Gatsby-esque hedonistic environment prior to the Great Recession allowing people to make decisions with their heart rather than their head and acquire watches that looked out of this world at the time, but are now part of wider design languages.

This period would also see the increasing size of mainstream watches, with the likes of Panerai and the Audemars Piguet Royal Oak Concept laying the foundations, Rolex would present the Deepsea Sea-Dweller in 2008 with a 44mm case, and Patek Philippe offered watches with diameters greater than 40mm to appeal to demand from a younger market. This was driven, in part, by the bling aesthetic that had gained acceptance in mainstream fashion, with audacious stone-set models being created by even the most staid manufacturers, all the easier to spot from a distance when the reference has been supersized. This heady moment of decadence would not last too long, but it would provide room for experimentation that has now matured into a more considered and sophisticated design aesthetic in more recent times for these jewelled pieces.

A profound peak, followed by a deep trough would cause the industry to learn some valuable lessons about market dynamics and what consumers really want, morals that have stood them in good stead for the following years.

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A.Lange & Sรถhne, Datograph "Yellow Jacket,"Circa 2009 CHF 45,000 - 90,000 A 18K yellow gold fyback chronograph wristwatch with large date display, guarantee and box

INTELLIGENCE|MODERN ROLEX PARTNERS

Rolex and their historic ties to specialist organisations are well known to many, from retailer dials for the likes of Tiffany & Co., to those produced to be distributed in the Middle East market featuring the royal symbol of Oman and the offcial seal of the United Arab Emirates, then beyond to the issued watches for Compagnie Maritime d’Expertises (COMEX) and the British military; sifting through the archives, we can fnd a wide gamut of bespoke creations from the company.

But as time progressed, production volumes increased, and the challenges of doing customised orders became more pronounced, so the market witnessed a waning of these distinctive and coveted confgurations. The last 20 years has seen an evolution in the way Rolex satisfes the demand from a variety of organisations across the military and civilian sectors, creating a new generation of highly collectible references for enthusiasts to excitedly chase.

Dials featuring the coronet and a retailer signature would fade from existence in the 1990s, with the Tiffany & Co. signed Daytona reference 16520 being the most visible from this period, but that did not stop special partnerships with important authorised dealers around the world. The most straightforward of these consist of engraved case backs, such as the edition produced for Relojeria Alemana in Palma De Mallorca for their 135th anniversary, that featured a relief of the store on the reverse of the watch. This format would also be used for presentation watches awarded at Rolex sponsored events such as the Goodwood Revival, the Pebble Beach Concours d’Elegance, the 24 Hours of Daytona and the 24 Hours of Le Mans, to name a few.

More involved efforts have made appearances, particularly with the sister brand of Rolex, Tudor, including an edition of the Black Bay Bronze

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Tudor, Black Bay "Harrods", Circa 2020 CHF 3,000 - 5,000 • A stainless steel diver’s wristwatch with green bezel, guarantee and box, retailed by Harrods

Rolex, Ref.16600, Sea-Dweller "Polipetto", Circa 2008 CHF 55,000 - 90,000 A stainless steel diver’s wristwatch with engraved caseback, guarantee and box, made for the Italian Police Divers Corps

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with blue bezel for the Swiss retailer Bucherer, and a version of the original Black Bay made for Orologi & Passioni in Milan that had the dial text replaced with the Italian translation. Among the most coveted by collectors is the run produced for the London department store, Harrods, that not only changed the bezel for one in a lustrous green, the emporium’s signature colour, but also had the depth rating printed in a matching tone, providing a rare instance where both the case and dial were revised for a retail partner.

The relationship between Rolex and organisations such as COMEX and the British military are well known to collectors for not only providing individuals operating in extremely challenging conditions a reliable timekeeper, but also offering a feedback loop for product development. As

divers and other personnel have moved away from mechanical timekeepers to track oxygen reserves or decompression stops to digital dive computers that provide much more functionality, classic models such as the Submariner and Sea-Dweller have continued to fnd a place on the wrist as a backup or a reminder of simpler times when on land.

Various regiments have had special editions produced for their members in recent times, including the British Special Reconnaissance Regiment, and the Royal Navy Clearance Divers, but these stuck to the tried and tested formula of applying an intricate engraving to the case back. To the best of our collective knowledge, it is believed that the last time Rolex customised a dial for a military unit was in 2008 with the socalled “Polipetto”, or “octopus” in English, that

was produced for the Italian Police Divers Corps.

What makes the model so fascinating is not only the logo applied to the dial, and the anniversary text to the case back, but the fact that, of the 78 pieces made, 28 had their engraving specifcally executed for the diver which they were given to, including their “brevet� dive certifcation number. It may have been the last of the breed for Rolex military watches, but it was a particularly special one and proved how far above and beyond the company has been prepared to go.

This neatly brings us to the most recent run of special models made for a particular market, and that is the series destined for the Middle East.

Watches produced by Rolex with so-called Hindi or Eastern Arabic numerals have long been coveted by the collectors’ community, emerging on the dials of a very small number of Oyster cased models in the 1950s, the Arabic script appearing on the day and date discs of a tiny batch of the reference 6611, before becoming ever slightly more common (but still exceedingly rare) in the 1960s and 1970s as applied numerals for the Day-Date.

After an extremely long hiatus, the format would return in 2016 on the reference 228206 40mm platinum Day-Date, becoming an immediate must-have among collectors with a fascination for these special dial Rolex models. With its soleil brushed ice blue dial, and contrasting strong blue Hindi number hour markers and matching

hands, complemented by the Arabic script for the day and date indicators, the watch has a harmonious presence that works extremely well in the platinum case and president bracelet with the smooth Oyster bezel (or a baguette diamond bezel for those deemed fortunate enough to receive the confguration).

With long waitlists building up as soon as the watch was announced, it was not too surprising to see the formula extrapolated to the Daytona range in 2018, once again housed in a platinum case and bracelet, with ice blue dial, and this time garnered with a brown ceramic or diamond bezel. It may seem an unusual pairing of this Eastern Arabic numeral format in a Daytona case, but there is historic precedence in the form an extremely rare reference 6263 Daytona from the 1970s, which featured the same script for the hour markers, one of which emerged in the Phillips Daytona Ultimatum auction in 2018, once again confrming how important the market is for Rolex, and how long that has been the case.

The take away from all of these examples of the storied company working closely across a range of retailers, professional units, regional markets, and events, is that Rolex is very careful in choosing who they work with, but once the relationship is established, they will go to considerable effort to make sure it is special and enduring.

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Rolex, Ref.116506 Daytona, Circa 2019 CHF 60,000 - 100,000 O A platinum chronograph wristwatch with Eastern Arabic numerals, guarantee and box

MUSINGS|MUSIC TO THE EARS

We occasionally need to remember that many of these wonderful mechanisms and complications were developed, in their time period, to address some specifc needs. Most of these have maintained their utility through the years, in some form or another; calendars of all sorts are daily necessities to many, as are chronographs – even the moonphases can be useful for a certain group of collectors.

However, the chiming complications, which were created when lighting at night came in the form of candles, and well before luminous materials were even invented for watches, may come across as an anachronism. Two ways of telling the time were devised, either through chimes, which people were accustomed to as it’s the way time was told ever since the village’s clock would sound it out, or through touch, such as with Breguet’s montre à tact, or tacile watch, where the owner could feel for an arrow or hand that was pointing at raised markers around the watch case. The latter was, and remains, a very rare execution, but chiming watches have consistently been produced for more than two centuries.

These days, light is never very far, whether it’s at the fick of a switch, or the glare of a smartphone, and tritium followed by luminova ensure that our time indications are visible in darkness anyway; this makes a chiming watch seem superfuous. But that would be simplifying it, for chiming watches should be considered the ultimate expression of the watchmaker’s art. Extremely complex in execution, and even more delicate in fne tuning, from the way the time is mechanically read in order to chime accurately, to the method by which the chime sounds, the skill required from the watchmakers is very different from what they’re generally accustomed to. The way we perceive and appreciate the chimes is also highly personal: the tone, timbre and cadence are highly subjective preferences, and can vary not only between brands, but within a series of identical watches from the same manufacture. The watch case itself adds another variable; precious metals are preferred to give this complication more cachet, although many will argue that steel, or even titanium, are better sonic conductors, compared to gold or platinum,

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Cartier, Tortue Minute Repeater, Circa 2006 CHF 25,000 - 45,000 A 18K pink gold tonneau-shaped minute repeating wristwatch, certifcate and box

Audemars Piguet, Jules Audemars Tourbillon Repetition Minutes, 10/10 Circa 2008, CHF 55,000 - 100,000 A limited edition titanium minute repeating wristwatch with tourbillon regulator, warranty and box

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which are softer metals and thus absorb some of the sound. Add to this the noise that the watch’s timekeeping and chiming mechanism generates whilst in operation, and you have numerous variables that give each and every chiming watch its own character.

With the Cartier Tortue Minute Repeater, we have one of the more classical presentations of this complication. It originated in the Cartier Paris Collection Privée (CPCP), which denoted the storied brand’s haute horlogerie efforts and was produced for around 10 years, from 1998 to 2008, with inspiration from Cartier’s own archives. For the minute repeater, we can trace its origins, also with a tortue case, to 1920, and its DNA is evident in the modern version,

with the same configuration of Breguet hands and Roman numerals marked by a railway track.

Even the slider is virtually the same, placed on the left side of the case; this is actually what gives the minute repeater the mechanical energy required to chime the hours with a single gong, the quarters with a double gong, and the minutes with a single gong. This sequence, especially when chiming times that approach 12, be it day or night, may seem extraordinarily long to today’s younger generations, but it is audible evidence of the artistic nature of the watchmaker’s craft.

Audemars Piguet is also a manufacture with a long history in chiming watches, its archives replete with pocket and wristwatches, from minute repeaters to various forms of sonneries. For the

Jules Audemars Tourbillon Répétition Minutes, the addition of the tourbillon, which is visible not only through the dial on the front, but also through the caseback, is a significant technical feat. Both the tourbillon and minute repeater are certainly stellar examples of the skill of the watchmaker, the challenge here is to fit the complexity of the chiming works within the space that is not occupied by the tourbillon’s mechanism. Both Cartier and Audemars Piguet feature a running seconds display, with the latter having implemented it through a hand mounted on top of the 60-second tourbillon. As a nod to its musical nature, the Audemars Piguet also comes with a hand-crafted wooden box, designed to amplify the sound of the minute repeater.

Another type of chiming complication is the alarm, which is less common, and admittedly not as complex as a repeater. We can trace the origins back to the 15th century, although they did not come to the fore until the late 19th century. Some

alarms do have musical qualities, although most focus more on functionality and ensuring that the sound is heard easily. With the Breguet Réveil du Tsar reference 5707, the watchmakers offer a very classical interpretation, highlighted by the grand feu enamel dial, in this instance particularly difficult to execute due to the apertures required for the date at 6 o’clock and the alarm indicator above the subsidiary dials. On the left is the chosen time for the alarm to activate, whilst the right shows a second time zone. The power reserve is highly visible for it directly impacts the duration of the alarm, therefore the owner can ensure that there is indeed an adequate store prior to using the function.

While there is little functional need for these chiming complications in today’s environment, their very existence draws attention to the watchmaker’s art, and are a reminder of a time when we were, perhaps, a little more conscious of how precious time really is.

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Breguet, Le Reveil du Tsar, Circa 2010 CHF 10,000 - 15,000 A 18K pink gold dual time alarm wristwatch with power reserve indication, date, enamel dial, certifcate and box

ICONS|THE F.P. JOURNE SONNERIE SOUVERAINE

There is an ever on-going conversation among collectors on what really is the highest of complications. The challenges to build a split second chronograph are well-known and often discussed, as well as the most involved calendar mechanisms such as those containing a leap year indicator or equation of time. Usually, the debate will move onto chiming watches, minute repeaters at the top of the list, but often the most intricate execution is overlooked: the sonnerie, be it grande or petite variants.

The reason they are so easy to escape one's mind is the fact that they are exceptionally rare as wristwatches, given the engineering challenges in creating a compact calibre that automatically chimes the passing hours and quarters. While pocket watch sonneries have existed since the 19th century, the complication did not make its leap onto the wrist until 1992, when the eminent Philippe Dufour achieved the great feat following on from the series of sonnerie pocket watches produced for Audemars Piguet in the 1980s.

A few years after Dufour’s debut, Piaget contracted a young watchmaker by the name of FrançoisPaul Journe to emulate the complication for the crown jewel of their high-end Gouverneur range.

While a series of 10 pieces was commissioned, the relationship would end before the fnal tally was reached, making it a pearl of incredible rarity, although monies from the project would help Journe to launch his namesake brand in 1999.

As soon as the Resonance and Tourbillon models were received by patrons, the question of when a Sonnerie would join the Souveraine collection was in the air, and Journe would start development of his own execution in 2000. It was clear that ease of use and durability would be paramount in such an intricate calibre, so in the six years of development, these factors were a key focus, ensuring even the least savant user could operate the watch without causing inadvertent damage with an incorrect operation or setting. Journe’s own benchmark was to “make it safe to use by an eight-year-old child”.

One of the big steps to facilitate this was the use of buttons to change functions via a column wheel and to actuate the minute repeater, as well as an ingenious system of locks to prevent time setting during striking by locking the crown, as well as stopping chiming when the crown is pulled.

Usefully, a device prevents the sonnerie from striking in the last 24 hours of power reserve, as the going train and chiming train operate from a single barrel, preventing potential damage should there not be enough power available to complete the chiming sequence.

Of course with repeating watches, the sonic performance is of paramount importance, and there are a number of key features of the Journe Sonnerie Souveraine that make the most of the beautiful tones when the gongs chime. The racks that facilitate the strike are particularly large, with pronounced teeth to accurate delivery of the hours, quarters and minutes,

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F.P. Journe, Sonnerie Souveraine, Circa 2008 CHF 300,000 - 600,000 A stainless steel repeating grande and petite sonnerie wristwatch with power reserve, guarantee and box

while the gongs are of a particularly inventive design that allow them to generate exceptional sound without adding volume to the calibre. The most obvious focus on tonal quality is a case fabricated out of stainless steel for the material’s superior properties to transmit sound; precious metals that are traditionally employed in casing striking watches actually dampen the sound waves.

The Sonnerie Souveraine would result in 10 patents being awarded to F.P. Journe for its various innovations all primarily focused on usability, and François-Paul is proudly on record saying how few of the watches have come back to the workshop.

When the watch made its debut in 2006 it would almost immediately be awarded the Grand Prix d’Horlogerie de Genève’s Aiguille d’Or, and was met with widespread praise from the collectors’ community. With its lofty six-fgure price tag it was always going to be a rarity, but rather than being simply restricted by the spending power of the enthusiast, the challenges of producing such a marvel, with only two watchmakers certifed to

assemble it, meant that approximately four pieces a year only would leave the manufacture in Geneva.

Discontinued in 2018, it means that perhaps just north of 50 pieces were produced during the lifetime of the Sonnerie Souveraine, with all of them bearing the name of the owner rather than a case number, proving how personal these watches are to those lucky enough to own them. As proof of Journe’s commitment to longevity, each watch was supplied with a kit of parts to aid with servicing, including, among others, a main spring, crown, stem, balance assembly, lever, and crystal, together with a steel bracelet and a selection of straps.

A crowning achievement for one of the greatest watchmakers to have lived, the Sonnerie Souveraine not only represents the total dedication to excellence that has come to embody the work François-Paul Journe, but also proves an important artefact in the founding of his company, representing the pinnacle of any collection that is fortunate enough to contain this rarity.

2011-2015

WORLD 2011 to 2015 would witness the world emerging from the economic challenges, with its impact continuing to be felt as opinions changed towards core social topics.

Once again, it would be a fruitful period for science and technology, particularly the continued proliferation of social networks and digital messaging making the world even more interconnected.

Following its launch in 2009, WhatsApp would quickly gain massive traction, becoming the default mode of communication for many, making it the world’s most popular messaging application in 2015. Thanks to its mix of private and group conversations, it has become a key part of many people’s daily lives, and unsurprisingly was acquired by Facebook in 2014. WeChat has had a similar meteoric rise, often described as a super app due to its foundation in messaging but its key roles in commerce, social media, and fnancial processing have led it to become a dominant force in China.

Virtual reality would fnally emerge as a mature technology, having been a touchpoint for science fction for decades. Products such as the Oculus Rift in 2012 at one end of the spectrum, and Google Cardboard at the other, have seen increased adoption by consumers for gaming, and in professional environments for applications such as computer aided design, modelling and render. In a related area, 3D printing would start to make inroads as affordable desktop solutions for hobbyists from the likes of MakerBot would become popular.

PC sales would wane during the frst half of the 2010s, quickly being overtaken by the newly popular tablet format which, together with the already widely used smartphone and new hardware

devices, would offer an ideal platform for digital voice assistants that saw great improvement due to rapid developments in artifcial intelligence.

Smaller drones from companies such as DJI saw signifcant sales during the period, primarily used for videography and aerial photography, but also fnding further niches in competitive racing, and even as a medical delivery service in Africa, with Zipline.

Large scale electric car production would begin with the Nissan Leaf in 2010 and the Tesla Model S in 2012, fnding considerable success internationally and providing the catalyst for the development of charging networks, extending the usable range of these vehicles. The passing of peak oil in 2014 and the adoption of technologies that had a reduced environmental impact, such as renewable energy, would become increasingly relevant, as the conversation around global warming would become front and centre for many, with the notable signing of the Paris climate accord in 2015.

In medicine, the CRISPR gene editing process would be developed, offering exciting new ways to treat diseases, and developments in the treatment of HIV would allow those with the virus to lead signifcantly more normal lives than had been possible previously.

These few short years which took place in the relatively recent past are a prime example of human ingenuity under testing circumstances, that even with so many challenges surrounding us, there is always a will to develop, evolve, and achieve new successes.

INTELLIGENCE|TRAVEL TIMES

Regardless of the reason to travel, whether it is the regular business fight or that vacation you are anticipating, the experience in the 21st century has certainly been more user-centric than ever before.

Modern airports throughout the world have become destinations in their own rights in many ways, offering incredible architecture, in addition to a vast array of amenities including retail and entertainment for travellers who are constantly looking for ways to indulge during their time before fights. And to all fellow watch enthusiasts, it could well be the routine detour to visit the dutyfree boutiques, showing support to your favourite brand and perhaps pick up a souvenir or two, but what could be better than having that ultimate one on your wrist that you can look at in admiration during a visit to the lounge?

In that sense, a simple watch with time and date would perhaps not be the practical option, requiring jetsetters to set the time at each layover, and ensuring that said setting is not done when it could adversely affect the date change. A dual time zone complication was invented for this specifc reason and has remained a dependable companion for travelling. To most, checking the wrist is still a habitual, perhaps nostalgic way to assure the right moment to contact any business partner, or simply as a sentiment of the loved ones and their whereabouts.

In response to the 1950s jet age, where commercial fights became readily available, Rolex came out with the reference 6542 in 1953, and not long afterwards Patek Philippe would introduce the reference 2597 in 1958, a dual time zone complication with quick-set buttons neatly concealed in the case band. As a tailored travel time solution for modern nomads, the brand debuted the reference 5990 in 2014, inheriting the crucial design element from the original travel time 2597: the two quick-set buttons for the local time adjustment, which is now cleverly integrated into the shape of the Nautilus.

This integrated two pusher design continues to be infuential at Patek Philippe as it has been adopted by other contemporary collections, including the Aquanaut 5164 and Calatrava Pilot Travel Time 5524.

Versatility is also an element of consideration in a travelling timepiece, to take care of different trips and occasions. It is a topic easily relatable to the aesthetic of the watch, in the materials and the style. The design from GĂŠrald Genta is certainly a praiseworthy attribute whenever a Nautilus came into a discussion, and the fact that the existing Nautilus collection consists of various case metals and is available in both bracelets and leather strap options depending on the references, really speaks to the values that watch collectors abide by when considering a modern sports watch.

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Patek Philippe, Ref.5990A Nautilus Travel Time, Circa 2014 CHF 45,000 - 90,000 A stainless steel dual time fyback chronograph wristwatch with date, certifcate and box

Laurent Ferrier, Galet Traveller Blue Night Globe, Circa 2017 CHF 25,000 - 45,000 A limited edition platinum dual time wristwatch with date, enamel dial, warranty and box, retailed by William & Son

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Branching out from a similar concept, the independent watchmaker Laurent Ferrier had a different idea for the ideal travelling timepiece; his interpretation of a travel time solution was debuted just a year ahead of the reference 5990, dubbed the Galet Traveller Globe. Interestingly, they both adopted a similar quick-set button operational mechanism for local time adjustments, and the button design would appear to be a close tribute to the 2597, not surprising given Ferrier’s history at the house of the Calatrava cross. Style wise, the theme of the Galet Traveller Globe is understated elegance; it has a leather strap, dress watch setting which is a great camoufage to avert any attention during the journey, thus leaving all the fruitful details for the owner to enjoy.

One of the highlights of the watch is the midnight blue enamel artwork on the dial, that depicts a world map with the United Kingdom highlighted in gold leaf as a touch to commemorate this special edition retailed by the UK retailer William and Son.

The movement, calibre LF 230.1, was developed specifcally for the Galet Traveller series, with the signature Laurent Ferrier micro-rotor and a natural escapement, which took a solid two years to complete. It is not diffcult to understand how Laurent Ferrier, despite being a relatively young brand, is capable of delivering a timepiece with a quality execution that is arguably on par with the most prestigious horology house in Switzerland, as a third generation watchmaker, and with his aforementioned time at Patek Philippe spanning 37 years in Patek Philippe.

At the end of the day, one can always take multiple timepieces on a new adventure, with a view to having different watches on hand to adapt to a particular circumstance or occasion. Perhaps it is simpler to take one trusted friend and enjoy the journey carefree, safe in the knowledge that on arrival, it will be easier to adapt to an exciting new location while not losing the connection to home.

MUSINGS|NEW TIME TELLING

Time telling in the past twenty years has changed drastically, with the emergence of technologies such as smartphones and Internet of Things devices, which inevitably require the time as a reference point. A brief look around most of us and there is likely to be at least one network connected object that has the most accurate time automatically synchronised through the internet and readily displayed; this provides a chance for us to refect on the very reasoning behind these miniature mechanical machines that we decide to wear on our wrist.

We can perhaps learn from the quartz crisis, which inadvertently elevated the appreciation of mechanical watchmaking; now the industry is experiencing a similar situation where the wristwatch in general is no longer the most relevant tool for time-telling in the modern world, and with technology slowly taking over parts of our life, the very defnition of a watch is again a topic for brands to explore. Take the Apple Watch as an example, in which reliable, precise time-keeping is no longer the main goal pursued, but rather its functionality as a tool for communication and

health monitoring, with the term “watch� only applied because it happens to be worn on the wrist.

This subtle switch has led us to take a step back, and reconsider the value of a mechanical watch, breaking free from some of the boundaries we have had, and consequently allow space to creatively explore different ways of telling the time.

It is not to say that classical watchmaking is fading - far from it - as it maintains a crucial role in shaping the future of watchmaking, and has certainly infuenced to a high degree the way the smartwatches have been presented. There is a wide scope though for using the technical acumen that has been built over the years while looking at new ways of displaying time. Looking beyond the conservative approach that most brands have taken, independent watchmakers have expressed their personality and creativity through developing alternative, often artistic ways, of displaying the hours and minutes that our daily lives are still measured by. It has also led to the development of new, exciting mechanisms, required to enable these forward-thinking approaches.

Ludovic Ballouard, Half Time "Souscription", 4/12 Circa 2012 CHF 20,000 - 30,000 ∑ A limited edition platinum jump hour wristwatch with retrograde minutes, guarantee and box

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Ludovic Ballouard, Upside Down, 10/12, Circa 2015 CHF 20,000 - 40,000 A limited edition platinum jump hour wristwatch with marquetry mother of pearl dial, guarantee and box

Ludovic Ballouard, a French watchmaker who fnetuned his skillset inside the atelier of F.P. Journe for a solid seven years, debuted the Upside Down and Half Time watches under his own name. Both timepieces, though only displaying hours and minutes, demonstrate impressive originality with a pronounced implementation of a jumping complication, in this case, jumping hours. Unlike typical jumping hours with a rotating disc, both Upside Down and Half Time were invented with new jumping mechanics, to progressively save and store energy until the change of the hour, which would release the energy thus restarting its cycle, a signifcant challenge as these jumping mechanisms and related components generally require more mechanical energy. Despite the simplistic display of time, it was embodied with an important philosophical message of “treasuring the present” by making only the current hour readable.

Ressence is another brand that created a new, intuitive way of displaying time, similar to the traditional method with hands pointing at numerals or other markers to convey information, but the fundamental difference is the dial was designed so the hands never overlap each other. It is an interesting concept similar to the interaction between the orbit and rotation of earth, moon and sun, the dial was arranged with the main dial and the hierarchically-sized hands constantly rotating and revolving at the same time, and in return, creating a new, minimal visual language that is easily adaptable in our minds. It might be hard to believe the watch is mechanically powered, judging only by the aesthetic, especially given certain models have oil-flled dials to eliminate the internal refection for a more stunning visual effect, making the hands appear to be projected onto the glass; perhaps this is what makes a truly “cool” modern watch.

Another contemporary brand that has incorporated liquids into its time displays is HYT. Though the mechanically powered fuidic module only displays minutes, while other elements remain displayed

on subsidiary dials, it took the brand a grueling 15 years to develop, taking all scientifc factors such as thermal compensation and fuid dynamics into account, which may have seemed intuitive when frst imagined, but the implementation turned out to be less than trivial. The main concept utilises the density difference between water and oil, which are stored inside two separate bellows, and are displayed through a thin glass capillary tube which runs around the periphery of the domed crystal and forms an enclosed circuit with the bellows.

Since water and oil do not mix, they would create a fne line which acts as the minute indicator when travelling through the thin tube; the technical challenges were to ensure that the two fuids did not separate, and that the oil would not adhere to the capillary itself. A temperature compensation device had to be developed to ensure that the expansion and contraction of the liquids in different environments would not lead to excessive variance in the actual time display. The groovy outlook of the fuidic module has given HYT watches great success, and since then the device has become the signature of any HYT timepiece, and we are now seeing the module being applied in different interpretations throughout the brand’s collections.

With the increasing market, and therefore competitions of independent watchmakers and brands, we can perhaps anticipate an upcoming trend for more explorations within the feld of new time telling. While the above represent some of the more iconic examples, there are other notable mentions including any Urwerk watch, or even the highly debated Beat Haldimann H8 - Flying Sculpture, a refection on the philosophical side of haute horology as it doesn’t actually display any time. We can certainly look forward to more watchmakers being inspired to explore these somewhat philosophical and artistic approaches to time telling.

Ressence, Type One, Circa 2015 CHF 6,500 - 10,000 A stainless steel wristwatch with orbiting hour, day of the week, day and night display, certifcate and box

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HYT, H1, Circa 2014 CHF 14,000 - 28,000 A DLC-coated titanium semi-skeletonized wristwatch with retrograde fuid hours, power reserve indication, warranty and box

SCHOLARS|MAXIMILIAN BÜSSER

The larger players in the watch industry are, to most of their customers, corporate entities. Every one of these timepieces though was brought to life by a team of designers, watchmakers, marketers, and suppliers, who, more often than not, will not receive credit other than the satisfaction of, perhaps, seeing the watch they worked on being worn on the wrist of a nameless customer who happens to be sitting at the next table in the restaurant. One brand has turned that methodology completely on its head, and rather than put these contributors in the appendix (if at all), they’re put front and centre, and called friends, to the point where this is actually an integral part of the brand name: MB&F, which stands for Maximilian Büsser and Friends.

The creative heart of MB&F is certainly Büsser himself, who, beyond the incredible collaborations he has worked on since the brand was founded in 2005, has also found an avenue to explore the themes that inspired him as a child, the time when boundaries are not yet tangible, and your dreams overlap with reality. Cars, animals, robots, toys and more have become inspiration for Büsser’s Horological Machines, where traditional watchmaking codes are thrown out the door and replaced with the embodiment of these dreams.

As a young graduate engineer, Büsser thought his career path would be in the corporate world, with one of the conglomerates such as Nestlé or Procter & Gamble, until a chance encounter with HenryJohn Belmont, the CEO of Jaeger-LeCoultre, who convinced him to join JLC as a product manager instead. Belmont’s time also coincided with that of Günther Blümlein, and both had a tremendous impact on Büsser. Although they recognised his talent early on, it’s Harry Winston who came knocking on his door, and made him CEO of their watch division, when he was only 31 years old.

It was at Harry Winston that this concept of friendship came to the fore, when Büsser decided to give his friend, a certain François-Paul Journe, some help; Journe had been one of those nameless contributors for a number of well-known brands, and was just starting out with his own company, when Büsser decided that he could use Harry Winston’s existing reputation to create a watch series that would bear the brand’s name, but also the watchmaker that they collaborated with. The Opus series was born, and while it certainly did give Journe a boost, it also put Harry Winston on the map for the collectors, who started to anticipate the next watch in the line.

MB&F, Octopod, Circa 2018 CHF 10,000 - 15,000 A limited edition stainless steel, nickel and palladium plated brass table clock with 8 day power reserve, guarantee and box

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MB&F, Legacy Machine 101 Frost,7/33, Circa 2020 CHF 32,000 - 60,000 A limited edition 18K pink gold wristwatch with suspended balance wheel and power reserve, guarantee and box

When Büsser decided to take the next step and found his own brand, the friendship extended beyond the crafting of the watches, as he had to rely on a number of retailers to pay a signifcant advance on his frst Horological Machine, as the personal funds he had set aside would not be suffcient. Luckily, a few of them agreed, and when the HM1 was delivered in 2007, MB&F was able to start on its path of reinventing what friendship means within the watch industry.

If there is another theme within MB&F, it is unpredictability. For the brand’s 10th anniversary in 2015, rather than try and stun the industry with a new complication, Büsser decided to thank all those collectors who followed him in the frst decade and unveiled the HMX, which would be more accessible while maintaining the ideas that were established from the beginning. Inspired by Büsser’s love of classic sports cars, the movement resembles an engine, and is proudly displayed through the sapphire glass, whilst the time is refracted through prisms so that the discs are visible from the side of the wrist, as if holding a steering wheel.

MB&F has also worked with established creators on other machines, such as the Octopod. To call it a table clock would be missing the point: cocreated with L’Épée 1839, the machine resembles its namesake animal, the octopus, with articulated legs, while the time is displayed through the mechanical brain, highly visible within its rotatable glass sphere head.

There is another part of Büsser where he pays tribute to traditional watchmaking, which he does admire for its beauty; the Legacy Machines represent the MB&F vision of how the horological masters of yesteryear might create their watches today.

Undeniably MB&F, but with a strong foothold in classical shapes, they are no less inspired. The LM Split Escapement is a perfect example, for it takes a keen eye to notice that, amidst a somewhat classical outlook, the balance wheel seems to be oscillating on its own, given pride of place above the time and date displays. The anchor and escape wheel are hidden from view, below the dial, and not an apparent assembly with the balance wheel as we are used to seeing.

So far, Max and his friends have managed to surprise and delight collectors for the past 15 years with each creation. They are not designed to please everyone; some might say they’re an acquired taste that will appeal to non-conformists rather than traditional watchmaking enthusiasts. The fact is, they all provoke an emotional reaction, more often than not a smile, or a gasp. Perhaps they will have already piqued the interest of a young engineer or designer who will continue in Büsser’s footsteps and, just as he’s done, stretch the envelope of what watchmaking can represent.

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MB&F, HMX Blue, Circa 2015 CHF 20,000 - 40,000 A titanium jump hour with wondering minutes wristwatch with guarantee and box

2011-2015 CULTURE 2011 to 2015 would be a period of revivals in many ways across all categories of culture, as consumers felt nostalgia for years gone by, with the music and movie industry only too happy to oblige.

As comic book heroes made their leap from the page onto the big screen, the Marvel Cinema Universe would enter the common lexicon and in 2012, The Avengers would become the highest grossing superhero movies of all time, only since eclipsed by two of the series’ later instalments, Infnity Wars and End Game.

Disney, having acquired Marvel Studios in 2009, continued adding to its portfolio under the watchful eye of then CEO Bob Iger, picking up Lucasflm and the Star Wars franchise in 2012. This sent the rumour mill spinning about a new trilogy which would come to fruition in 2015 with the premiere of The Force Awakens, co-written and directed

by J.J. Abrams, that would go on to gross over 4 billion dollars at the box offce, becoming one of the most commercially successful flms of all time.

At a rather different end of the spectrum, Disney would play on another kind of nostalgia with the animated musical fantasy Frozen, which would become a prevalent part of popular culture and become another great fnancial success for the house of Mickey Mouse.

Electronic dance music would see a resurgence in this period, but would now consist of many more sub-genres than its previous eras of success, due to the increased use of streaming services and their extensive catalogues. It would be hard during these years to not be aware of Adele, the British singersongwriter who would release her second and third studio albums titled 21 and 25, that would win multiple awards, and become some of the bestselling albums of all time.

Mobile gaming would be an incredible force during this timeframe, with a number of smash hits emerging such as Angry Birds and Candy Crush Saga, that would see such massive successes that they would spawn movie franchises and company IPOs. The retro vibe would make its appearance in Minecraft, a game that consisted of simple blocky components that fosters creativity in problem solving, and would go on to receive critical acclaim and is still among the most popular games nearly a decade later.

Sustainability would continue to be an important theme, particularly in areas such as architecture, where energy efficiency would become an increasingly important consideration. The theme would also be a part of the 2012 Olympics in London, the only city to have hosted the games three times, and one that did not want to fall into the financial traps that are often associated with the prestigious event. With venues that could easily be adapted for other sporting fixtures after the games had finished, and an opening ceremony that stood in stark juxtaposition to the lavish affair in Beijing four years prior, although in many ways was no less impressive, it was destined to redefine what a host city could offer.

With the world bouncing back, and new sources of creative energy emerging from all corners of the globe, the years that would follow would prove to be important for all facets of our cultural identities.

MUSINGS|RETHINKING THE ESCAPEMENTS

While the modern fascination with the wide range of watch complications available, from time only watches through to sonneries, chronographs, and iterations of calendars that many may not have even had knowledge of previously, the heart of any timekeeping device relies on the same fundamentals: a stable power delivery, measurable in predictably even increments, and a conversion of those increments into a legible time display.

A watch can be fantastically complex yet totally inaccurate, if these basic components are not well engineered, produced and assembled.

It is unfortunate though that this aspect is not well understood by most of the people that the potential client will face in pursuit of an acquisition, that is, the salesperson. It requires a deeper appreciation of the terminology surrounding watchmaking as a science, putting to one side, at least for a brief moment, the aesthetic aspects relating to design, hand fnishing, and the ancient crafts. Allow us some time now to discuss these fundamentals, which, thankfully, a number of watchmakers have spent time developing further and presented in modern timepieces.

Any mechanical wristwatch has a power train, that starts with a spring, which provides the energy, which goes to the escapement, an assembly to control how that energy is output and measured, allowing it to animate the gear train that ultimately displays the time and every subsidiary function.

The escapement is the key part of the equation, as it is required to take what can be a large amount of energy (depending on the desired power reserve of the watch), and to allow it to, well, escape in fnite and constant increments. The most visible and praised escapement assembly is the tourbillon, prized not only for its historic origins, but also for its aesthetic appeal; there is something to be said for watching the tourbillon in action, if made visible (there are watches with hidden tourbillons).

The escapement though can be affected by more environmental factors though than gravity alone; temperature fuctuations, humidity, friction, shocks, and magnetic felds, especially in the modern era, with the multitude of electronic devices that rely on magnets for basic requirements, such as a protective cover, or even using said cover to turn on or off the device automatically if it is opened or closed. Any of these, even if minor,

F.P. Journe, Chronomètre à Resonance, Circa 2002 CHF 50,000 - 80,000 ∑ A platinum dual time wristwatch with double escapement, power reserve, certifcate and box

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infuences how the escapement performs, and how regular the small units of power it releases are. These variations, when accumulated over the course of a day, can lead to a noticeable deviation in the chronometric accuracy of the watch. Whilst modern manufacturing technologies have enabled the production of the parts to be much more precise, ensuring that the tolerances are minimised, it only goes so far towards protecting this mechanical ballet from external infuences.

These very fundamental issues have troubled watchmakers, ever since timekeeping devices were invented, but they took a giant leap forward some 200 years ago, as the age of exploration required timekeepers that would be considerably more precise than ever before, particularly when sailing the open oceans where timing is required to calculate positioning, and any error introduced by this variable signifcantly amplifes the derived position. Think about how diffcult it is for your GPS device to give you an exact position, even though the underlying systems have incredibly

powerful computers and atomic clocks to assist in that calculation. For our daily use, a small accumulated error means that you might be late for your next appointment, and although we are told that we buy mechanical watches for their beauty, an agreed degree of precision is desired, and often certifed.

To make it even more reliable a few alternative approaches have been developed, the most visible recently but also perhaps the most mysterious is François-Paul Journe’s Chronomètre à Résonance.

It relies on an effect that was observed by horological masters such as Christian Huuygens, Abraham-Louis Breguet, and Antide Janvier: two similar objects in motion, when placed near each other, will have a mutual infuence and, given the right conditions, achieve equilibrium. The science and mathematics available at the time could not adequately explain this, and while we have a much better understanding today, it still reminds us of a magic trick, as there is no straightforward explanation, especially in Journe’s timepiece, where

there is no mechanical linkage between the two balance wheels that are visible through the case back. Once the movement starts, the two balance wheels oscillate and their escapements deliver power to their respective time displays. After a few minutes, the balance wheels achieve what Journe has dubbed resonance, and eliminate each other’s variances.

When we turn to the Breguet Classique ChronomĂŠtrie reference 7727, the watchmakers have employed an approach that intuitively seems like one that Abraham-Louis himself might have devised. Here, the escapement construction is improved on several fronts, the frst being that it oscillates at a high frequency of 10Hz, or 72,000bph (or 20 beats per second), considerably

faster than most mechanical watches, even chronographs. This speed is known to provide better accuracy, although it comes at a cost, for it draws more power and also generates increased levels of friction. To compensate for this, Breguet has developed magnetic balance, whereby the pivots are magnetically suspended, reducing the friction to zero. The magnetic infuence on the other components, namely the lever and escape wheel, is not a concern as they are made of silicon, an amagnetic material. In addition, a double balance spring adds to the stability of the assembly.

It’s certainly one for the purists, although Breguet has made a concession to make its approach visible by providing a 1/10th of a second subdial that spins within the seconds display, reminding the wearer of the mechanism in play.

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Breguet, Classique ChronomĂŠtrie, Circa 2014 CHF 10,000 - 20,000 A 18K white gold chronometer wristwatch with magnetic pivots, silicon escapement, power reserve, warranty and box

Urban JĂźrgensen, Ref.11C, Circa 2011 CHF 20,000 - 40,000 A stainless steel prototype wristwatch with detent escapement, power reserve and certifcate

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For the Urban JĂźrgensen reference 11c, we need to take another trip back into history to truly appreciate it. The escapements that we have referred to so far are generally called the Swiss lever escapement, originally invented in the 18th century

by Thomas Mudge. There are more precise constructs, but all have to compromise on other aspects, such as stability, size or shock resistance.

One of these is the detent escapement, invented by Pierre Le Roy also in the 18th century, around the same time as the Swiss lever. It is considered more precise because it only needs to give impulse to the balance once per oscillation, reducing the amount of friction by half. It is more susceptible to shock though, and it requires considerably more space

as a construction, that is, until Urban JĂźrgensen tackled those two constraints and made a detent escapement in its UJS P8 calibre, which is certifed by two well-known laboratories. Another advantage of this device is that, thanks to the reduced friction, the watch can run for longer intervals before requiring a service.

These watches prove that the fundamentals of mechanical watchmaking are still a source of inspiration, and inventiveness, in the modern era.

It may require a more cerebral approach from collectors, although this scientifc basis, with a signifcant dose of historical acumen, is certainly part of the appeal.

MUSINGS|WILD DESIGN

There was a magical moment as we progressed through the 2000s into the 2010s where there was clearly something in the water around the hub of watchmaking in Switzerland. While traditional players continued doing what they were good at, that is, preserving their ideals of horology that had existed for decades (even centuries in some cases), there was a small band of players who felt like it was time to take a fresh approach.

It was not just an attempt to tell time in a different way, or integrate an unusual mixture of complications, but a wider effort to really push the aesthetic envelope. In a way, it was the perfect time to attempt new projects from this angle, with advanced systems for computer aided design, and a decent amount of funding for such moonshots due to groups employing smaller ateliers for movement creation, and wealthy enthusiasts looking for a bit of one-upmanship for the next collectors gathering.

An underlying theme was to integrate clients' pastimes outside of horology into their watches, and the Christophe Claret gaming watches were an incredible execution of this ideal. Produced as three models that could play blackjack, baccarat, or poker, it is the last one that is perhaps the most impressive. With three positions at the “table”, the owner and two friends can play a hand of Texas Hold’em, with slated louvres over their cards so that their competitors could not see them. By pressing a series of buttons in the case band, that are also attached to a chiming system to add a degree of theatre as the game progresses, with the deal, flop, turn and river controllable by the pushers. With nearly 100,000 combinations, and a balanced change of each player winning, the watch contains hours of entertainment, and if the owner ever gets bored of poker, the automatic winding rotor doubles as a game of roulette.

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Christophe Claret, Poker, Circa 2015 CHF 25,000 - 45,000 A limited edition 18K pink gold and titanium wristwatch with poker and roulette game, guarantee and box

Claret’s strength with automatons has stood him in good stead, allowing him to create watches with a degree of movement that is rarely seen, particularly in the ladies’ watch space, where his intricate mechanical art has led him to create extremely elegant and inventive complications. The Margot is among the most familiar, even for the male watch collector, due to its fascinating internal mechanism that allows the owner to play the classic “he loves me, he loves me not” game, with an aperture in the dial to share the answer. Stellar proof that wild horological creations can be found on the wrist of either gender.

That would change in 2004 for the introduction of the Bugatti Type 370, produced in partnership with the legendary car manufacturer for the launch of the Veyron, what would become the world's fastest production car. As a true halo product and a technological tour de force from the VW group, that was more well-known for producing the Golf than a 1,001 PS, 8 litre, quad-turbo, W16 powered hypercar with a top speed in excess of 400km/h, the Type 370 was an appropriate addition to the wrist of those fortunate enough to own the 1.2 million euro vehicle.

While curious complications were one component of the surreal design from the period, there was a more extreme effort from companies creating objects that did not even look like a watch at frst sight. Parmigiani Fleurier was a famed restoration workshop under the leadership of Michel Parmigiani before becoming a watch manufacture, with its extensive experience handling the most important timepieces and automatons giving it a frm grounding to produce its own creations.

Early efforts involved fne fnishing and a degree of complication in ranges such as the Toric and Kalpa that would remain fairly true to what was traditionally considered haute horology.

With its barrel-shaped cased, it does not even appear to be a watch from a distance, but once it is strapped on and hands are placed on the steering wheel, the dial is ideally positioned for time reading without having to break sight for prolonged periods from the road ahead. With a 10 day power reserve and a special tool for winding and setting, combined with a movement architecture that is unlike anything else that had been seen before and can be admired from all angles thanks to a number of apertures in the case, the Type 370 proves what could be achieved when no limits are put in place, the same remit that applied to the Veyron.

Parmigiani Fleurier, Bugatti Type 370, 50/50 Circa 2007 CHF 35,000 - 55,000 A limited edition 18K white gold cylindrical wristwatch with guarantee and box

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It is impossible to cover the idea of overt design in the 2000s and 2010s without discussing the Harry Winston Opus series. With a roster consisting of the greatest watchmakers of the modern era, including François-Paul Journe, Antoine Preziuso, Vianney Halter, Christophe Claret, Felix Baumgartner, Robert Greubel, Stephen Forsey, Andreas Strehler, Frédéric Garinaud, Jean-Marc Wiederrecht, Jean-François Mojon, Denis Giguet, Emmanuel Bouchet, Ludovic Ballouard, Franck Orny and Johnny Girardin to run the names in the chronological order of their creations, the Opus collection has left a incredible impression on watchmaking as we know it today.

It was famously Max Büsser who established the Opus series, bringing in his friends to design the pieces, before project managing the effort,

effectively the training ground for the methods he would so successfully employ at MB&F. All of the creations for Opus made jaws drop, but there were a few occasions where the watches few a bit too close to the sun. The Opus 3 designed by Vianney Halter famously took more than a decade to be delivered to clients, and the Opus XI debuted just prior to the company that had done much of the internal engineering, MCT, effectively shut down, causing the who project to be bought in-house and eventually making their way into the hands of patient and eventually happy collectors.

Indeed, the bleeding edge, wild designs of this golden age in watchmaker might have had their bumps along the way, but to achieve greatness one has to embrace risk. The names mentioned above certainly achieved that wholeheartedly.

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Harry Winston, Opus XI, 25/100, Circa 2011 CHF 73,000 - 110,000 A limited edition 18K white gold wristwatch with digital time display, certifcate and box

INTELLIGENCE|HAPPY ANNIVERSARY PART 1 A collective obsession among watch enthusiasts with the origins of brands and the continuity of their ownership has been signifcantly more positive for some manufacturers than others. Sitting far above the fray, with only a small and exclusive club for company, is Patek Philippe. Founded in 1839, and in continuous business since, with a clear line of succession over the years, when important milestones have arisen for the company in recent years they have deservedly marked the occasion with a sizeable celebration.

While the centenary was a bit challenging to commemorate due to what was occurring elsewhere in Europe, for the 150th year since the establishment for the house of the Calatrava cross, collectors got a whole host of mementos, chief among which was the Calibre 89. The most complicated watch ever made at its point of introduction, eclipsing the Henry Graves Supercomplcation also produced

by Patek Philippe in 1933, the 1.1kg tour de force contained 1,728 components powering 33 complications (the count varies a bit depending on the exact defnition of a given function), and would hold the record until 2015, when Vacheron Constantin unveiled the reference 57260.

The Calibre 89 took nearly a decade to bring it from an idea, through development, then production, before delivery. Four were produced in yellow gold, white gold, pink gold and platinum, all quickly fnding homes in important collections, and its arrival was a pivotal moment for Patek Philippe, showing that the company could embrace new technologies, such as computer aided design, in its pursuit of horological excellency. Other debuts at the 150th anniversary celebration included a number of Calatravas, a jump hour equipped watch, and even a commemorative medallion, with the stand out event being the now legendary The

Art of Patek Philippe auction hosted at the Hotel des Bergues in Geneva, that would contain some of the most important watches ever produced by the company, including the only publicly sold reference 2499 in platinum.

It would be a long 25 years before the next milestone that the management at Patek Philippe deemed worthy of celebration would come along.

The formula from the 150th was kept largely similar, with a true fagship product unveiled in the form of the reference 5175 Grand Master Chime.

With its case that can be rotated to allow the owner fexibility as to whether they emphasise the chiming works (consisting of grande sonnerie, petite sonnerie, minute repeater, alarm with time strike and date repeater) or calendar function, and its heavily engraved structure showing the exceptional workmanship the company is known for, the reference 5175 would be the most complicated watch ever produced by Patek Philippe for the lucky six people who gained an allocation upon its debut.

Fortunately for others, an entire range of celebratory watches was made available for both men and women. The reference 5975 Multiscale Chronograph was offered as a 1,400 piece edition total (400 in yellow, rose, and white gold respectively, plus another 100 in platinum), and the ladies version with a smaller case diameter and baguette diamond hour markers was 300 pieces (150 in white gold and 150 in pink gold).

World timers would play a key part in the 175th anniversary collection, and while the references 5131 and 7131 from the standard collection, but ftted with a special scene depicting boats on Lake Geneva, were virtually impossible to obtain, the newly announced World Time Moon would prove

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Patek Philippe, Ref.5575G, Circa 2016 CHF 58,500 - 82,000 A limited edition 18K white gold world time wristwatch with moonphases, certifcate and box, made for the 175th anniversary of Patek Philippe

Patek Philippe, Ref.5275P Chiming Jump Hour, Circa 2015 CHF 230,000 - 400,000 A limited edition platinum chiming wristwatch with digital jump hour, engraved dial, certifcate and box, made for the 175th anniversary of Patek Philippe

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to be one of the hits of the entire range. With its new case and hand design, as well as the highly attractive starscape and hyper realistic moon, the reference 5575 for men offered in white gold with black dial (1,300 pieces) and the equivalent ladies model reference 7175 in pink gold with diamond set bezel (450 pieces), these two new releases would prove Patek Philippe’s commitment to offering something fresh and compelling for their most loyal fans.

We have saved the most exciting by far of the relatively available watches for last, with the reference 5275 Chiming Jump Hour in platinum. A novelty in the keenest sense of the word, it featured a new case format with intricate engraving, an elegant white gold dial with a foral design in relief around the aperture for the jump hour and scales for the minutes and seconds, the watch certainly has wrist presence.

The movement makes the 5275 even more fascinating, containing an extremely unusual set of complications. In addition to the aforementioned jump hour, the party trick of the watch is the fact that it strikes a gong once at the top of each hour, the function able to be silenced with the slide in the band at 10 o’clock. Utilising four patents to ensure that the jump, chime and advance of the minutes and seconds occur smoothly at the top of each hour, the reference 5275 shows how far Patek Philippe is prepared to go to explore new boundaries for the 175 collectors who were fortunate enough to secure one.

With such an impressive portfolio for their previous anniversaries, one can only dream what the future holds for other comparable commemorative collections from such an important manufacture.

Roll on 2039 and the 200th anniversary, so we can all wish Patek Philippe a very happy birthday!

2011-2015

WATCHMAKING After the overt ways of the late 2000s, the beginning of the 2010s would feel like a much more intellectual pursuit in the watch world.

With somewhat reduced spending power for certain groups of consumers, collectors found new joy in the research and studying required before a new acquisition, aided by the maturation of online media platforms, the rise of messaging applications for discourse and image sharing, and more public platforms such as Instagram allowing enthusiasts across the globe to engage more freely.

would keep a portrait of the great maker on their wall for inspiration, and the famous story of the Japanese company working with a local university so they could grow a particular plant required for polishing on Japanese soil, to ensure that it was truly a product of their home country, showed how far the nation’s obsession with perfection could carry.

As certain complications and chronometry devices became commonplace, with lower price points featuring as a key marketing angle for some brands as they tried to lure the relatively thrifty luxury watch buyer, the more serious enthusiast was taking an elevated approach. The ability to discern exceptional hand fnishing, explain the difference between a detent versus a lever escapement, and go deep into the nuances of the business side of watchmaking to understand what has shaped the industry became badges of honour at collectors’ gatherings and when posting on forums.

But the market place was not all discussions of anglage and constant force devices, aesthetics would also have a new found importance as makers found their visual identity, with more consideration than the heavy diamond set language from the end of the previous decade. Max Büsser’s wild horological machines, that were now a few years old, had a stellar run from 2011 to 2015 and would be joined by the Legacy Machine series that reinterpreted the brand’s visual language for a round format. Liberating many designs was the fact that the highly accurate time displays were nearly everywhere thanks to the smartphone and other connected devices, allowing the reading of the hours and minutes to take a secondary consideration for some, freeing them to create something more akin to mechanical art than a timepiece.

This continued to bolster the market for independents and the very best brands with long lineage, particularly focusing on more traditional formats such as time-only watches and chronographs, as well as fostering a quest for fne watchmaking outside of Switzerland. A. Lange & Söhne were already well established by this stage and had acted as a vehicle for the promotion of horology from Germany, but further afeld, Grand Seiko, Credor and the Micro Artist studio were honing their craft and coming to the forefront. Tales of Philippe Dufour training the team in Japan, who

The diversity that the industry presented at this time was really a wonderful attribute and perhaps the most defning characteristic, offering a broad spectrum of watches and allowing the industry to appeal to a wider audience, before a degree of consolidation in more recent times towards sport watches and status symbols.

MUSINGS|FINE TIME ONLY

Time only watches have consistently gained popularity among the collecting community, whether it is a Patek Philippe Nautilus reference 5711 or a Voutilainen Vingt-8, there are increasing numbers of enthusiasts considering an ultimate, time only watch as the “endgame� of their horological journey. It is hard to speculate the reasoning behind such a notion, but it could possibly be that after exploring numerous varieties of complications, there is a desire to come back to the basics of what represents fne watchmaking.

Such unspoken sentiment could very well exist in watch collecting, especially in the modern time where novelties just food the newsfeed year after year, with a repetitive but unfruitful formula of more horsepower and lighter weights every time, or simply a different colorway. Returning to ground zero might be the best solution for collectors to refect on, or simply to appreciate the well-executed fundamentals that are inherently treasured by horological scholars. Perhaps to most, a fne, time only watch is the ultimate answer, or at least, a chance to meditate on one's thoughts.

In that aspect, even the most high brow taste would not turn down a Philippe Dufour Simplicity or a George Daniels Millennium, but when we set our eyes on such sacred targets, we become vulnerable to overlooking the existence of other great watches.

While a traditional equation might have Swiss watches on one side of the, and prime examples of horology on the other, the modern watchmaking industry is, in reality, much broader than ever before, and some of the brands are perhaps underrated by the watch collecting community because of a lack of communication and inadequate marketing strategies. Though not everyone might anticipate a hidden gem comparable to the recent boom in, for example, F.P. Journe timepieces, but given the right exposure, the next blue chip watch might just be around the corner.

The Friedrich III by Lang & Heyne is one of the unmistakable examples of what a brand can achieve when money is not the primary consideration. It has some distinctive elements that are seldom found otherwise on a modern timepiece, with a Germainc approach to what a traditional time only

Lang & Heyne, Friedrich III, Circa 2014 CHF 8,000 - 12,000 • ∑ A stainless steel wristwatch with extra silver dial and set of hands, certifcate and box

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watch should be. The overall aesthetic of the watch echos the pocket watch era, when Dresden was a town famed for its horological industry as well as its scientifc and cultural endeavours, with all the tells from the cathedral hands to the fnishing on the movement, the chamfering on the edge of the bridges, countersunk screws, to the extravagant brilliant cut diamond set on top of the signature swan-neck fne adjustment regulator, it speaks for itself from the quality of every individual part.

As for Asia, the market is currently witnessing an interesting change on a much-beloved brand within the watch community, Seiko, with its subsidiary brand, Credor, and the now separately company label, Grand Seiko, which are still developing their approach to expanding their market beyond the Japanese borders. While the value proposition of Seiko remained unchanged, Grand Seiko has higher ambitions, and is taking many cues from luxury watchmaking, developing dedicated ateliers for mechanical timepieces while still maintaining its core Japanese identity best represented by the pride shown in the electro-mechanical Spring Drive calibres. Going even further is Credor, which is manufactured within the same studios as Grand Seiko, representing a collection that fuses haute horology with Japanese artisans and their craftsmanship, and gaining considerable traction from the collector’s community, perhaps also because of its sparse distribution around the world.

Take the Eichi II, for example: the traditional outlook of the dial and the watch might appear slightly ordinary at frst glance, but it will soon make

sense once inspected in the metal, hard to resist falling for such an exquisitely fnished timepiece when viewed under a loupe. Starting from the white porcelain dial, all 12 hour indices and the Credor logo are hand-painted by the specialists within the Micro Artist Studio, in which they also handfnished the movement to the highest degree, the mainspring barrel further decorated with a cutout of bellfower, a symbol of Shiojiri,the city where the studio is located. Judging simply from photographs would barely do the fnishing justice, it needs to be viewed and handled in person to be truly impressed by the unmatched and exceptional fnishing.

As for the movement, it is based on the Spring Drive signature and proprietary quartz oscillating escapement, which is often used among models of Grand Seiko and Credor, and contributes to the superbly smooth and quiet sweep of the second hand around the dial, highlighting the character of a discreet, polite, and elegant Japanese timepiece.

It is diffcult to conclude which might be the best time only watch among the vast options in the market, given the constant improvement in manufacturing technologies, all while the expectations of collectors continue to rise.

Watches that are only able to meet the minimum standard will soon become less appealing with the introduction of alternatives that achieve a higher standard. Within the category, such differences might even be more pronounced as there are less distractions attributable to complications or other visual elements, which will also fuel the attention of the most discerning collectors.

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Credor, Eichi II, Circa 2015 CHF 20,000 - 40,000 A platinum wristwatch with porcelain dial and box

SCHOLARS|DENIS FLAGEOLLET

For many collectors and watch enthusiasts, De Bethune is considered one of the best kept secrets in the watch industry, or the greatest brand you’ve never heard of. The independent Swiss watch manufacturer is still young having only been founded in 2002 by David Zanetta, a well-known watch expert and collector, and Denis Flageollet, who we could say was predestined for the vocation as he is a fourth generation master watchmaker.

The brand seeks to blend contemporary, cuttingedge technology with the spirit and beauty of 18th century watchmaking with lavish fnishing, and has done so admirably. This has of course attracted quite a few discerning collectors to own a timepiece from the young maison, and contributed to the success and uniqueness of the brand, which can be directly attributed to Flagoellet’s technical knowhow and philosophical approach to the craft.

Born in France, Flageollet majored in science during his secondary school studies, before crossing the border to Switzerland to study watchmaking and micro-engineering. After completing his training, he joined the Musée d’Horlogerie du Locle as a technician in antique watchmaking, where he would encounter historic complications from the masters of yesteryear, augmenting the innate sense for horology he obtained genetically, and start imagining how it could all be improved.

Flageollet then worked in Michel Parmigiani’s workshop before co-founding Techniques Horlogères Appliquées (THA) with François-Paul Journe and Vianney Halter. The 12 years spent at THA saw him set up the production workshops, handle technical management, and head the R&D department, while also working on projects for other brands.

Flageollet and Zanetta, who was a colleague at THA, felt though that the Swiss watch industry had

spent too much time on standardising production and should be, instead, innovating technically and aesthetically. Flagoellet was already as fascinated by age-old watchmaking techniques as he was by the immense possibilities offered by technological advancement; for him, solving a horological question means putting himself in the shoes of master watchmakers from the past, fguring out how they would have thought about the problem and how they would have solved it. Sometimes the answer resides in the fact that the watchmakers simply didn’t have the technology available today, which enables Flageollet to leverage modern CAD and CNC technologies to combine classic watchmaking traditions with modern processes.

This was born the main concepts behind De Bethune, which set out to advance watchmaking on all facets, to evolve beyond the established fundamentals.

What sets Flageollet’s timepieces apart are the use of high-tech materials and futuristic space design, his pioneering work in the use of silicon balance springs and shock protection, and the constant pursuit of perfection for each of the timepieces leaving the manufacture, most notably in terms of movement and case fnishing. The total symbiosis between the internal and external elements of a De Bethune timepiece offers collectors the opportunity to own a watch that is easy to read, while also giving immense pleasure to look at and get lost into.

The most emblematic watch produced by De Bethune remains the DB28, which won the Aiguille d’Or award at the 2011 Grand Prix d’horlogerie de Genève (GPHG), and features many of the maison’s signature innovations such as the balance wheel facing the front of the watch with the balance in silicon and a ring of platinum, the in-house hairspring with patented terminal curve, and the

De Bethune, DB27 "Titan Hawk", Circa 2015 CHF 15,000 - 25,000 A titanium wristwatch with date, 6 days power reserve, warranty and box

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triple parachute anti-shock system. The watch also showcases a 3D moonphase indicator crafted from a tiny ball of palladium and fame-blued steel, and the case features the trademark “foating” lugs that collectors have now come to expect from De Bethune timepieces, and which make them some of the most comfortable watches to wear.

Flageollet’s philosophy to watchmaking is just as much on display in complicated pieces as it is in the entry level the DB27 Titan Hawk created to celebrate De Bethune’s 10th anniversary, and its focus on the aesthetic concepts, with a high degree of fnishing on materials that are not traditionally presented in that fashion, such as titanium. The no-compromise approach to refnement is clearly showcased with the delicate mirror-polishing of the grade 5 titanium case, the fame-blued hands, and the calendar function taking centre stage on the dial. But of course, what strikes collectors the most is the silicon and white gold balance wheel revealed through the caseback as De Bethune has perfected the use of silicon over the years to reduce the effects of gravity and friction to increase chronometry.

Re-interpreting and re-engineering complications has long been at the core of Flageollet’s work and the DB29 Maxichrono Tourbillon undoubtedly represents the embodiment of that philosophy.

Although it is equipped with a tourbillon, this aspect isn’t given priority over its chronograph complication, for good reason, as all the chronograph functions point to one single focal point on the dial, to give maximum exposure to the patented construct employing three different clutch mechanisms behind three semi-independent systems controlled by three column wheels, reducing friction as much as possible on the relevant parts. In keeping the design of the piece pure and uncluttered, a crown-based monopusher for the chronograph is the perfect sign of elegance and tradition.

With several international prizes and multiple patents under his belt, Flageollet has also dedicated some time to passing on his experience and knowledge to watch enthusiasts and the up-and-coming generation of watchmakers, hoping that the spirit of innovation that sparked De Bethune will continue.

De Bethune, DB28, Circa 2015 CHF 15,000 - 25,000 A zirconium wristwatch with apparante balance, power reserve, torque indication, spherical moonphases display, warranty and box

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De Bethune, DB29 Maxichrono Tourbillon, Circa 2014 CHF 50,000 - 100,000 A 18K pink gold chronograph wristwatch with tourbillon regulator, warranty and box

ICONS|THE RICHARD MILLE RM038 BUBBA WATSON

It feels almost surreal to have witnessed, in close proximity, the meteoric rise of Richard Mille over the past 20 years. Once a secret sign of an insider knowledge in contemporary watches, the brand’s disruptive models such as the RM005 and RM011 were rare sights, occupying space on the fringes of the watch community, as serious horological enthusiasts had a diffcult time categorising the brand. With challenges to selling the early production pieces, particularly the tourbillon models which carried lofty prices tags for the time, but now seem remarkably reasonable, it was a hard journey to the position the watches occupy today, with extended waitlists and loyal customers, although one that feels like it has happened in no time at all.

The lineage of RM’s most emblematic models is easy to trace, due to the fact that, from the reference RM001, the focus for the halo models was on a tourbillon and the use of cutting-edge materials. The highly limited 001 was presented in 2001, as effectively a pre-production model only offered to friends of Richard, and used as a test bed for the design and aesthetic choices, it would be complemented by the more developed RM002 soon after that, which added a function selector, now something of a signature for Richard Mille.

The early watches, referred to as V1, used a metal baseplate, but further down the line the RM002-V2 would arrive in 2005 with a newly developed carbon nanofbre baseplate.

The technology was actually carried over from the RM006 Tourbillon Felipe Massa which debuted

in 2004 as an edition of 25 pieces, and was the frst iteration of an ultralight watch. The concept came about due to the friendship between Mille and Massa, the latter asking for a lightweight and comfortable model that would withstand the high g-forces that are generated in the cockpit of an F1 car. The 006 would simplify the movement, removing any component or scrap of material that was deemed superfuous in the quest for minimal mass and resilience, with the end result weighing in at 43 grams.

The RM006 would lay the foundation for the RM009 that would appear a year later, once again as an edition of 25, taking the concept of removing to add lightness even further. By eliminating nearly all of the baseplate, crafting the movement from an aluminium-lithium alloy, and machining the case from ALUSIC, the fnal weight would come in at 29 grams, excluding the strap. Richard Mille always said that the 009 was a weapon in a war against marketing in the industry, where the perception that a watch was valuable because it was heavy was often pushed. The 009 found a highly receptive audience who were happy to pay the staggering retail price at the time, and it is now highly coveted by those lucky enough to own one.

Some attribute the next step on the journey for the ultimate ultralight tourbillon wristwatch as the RM012, with its space frame construction, but this was more of an aesthetic exercise than a truly focused effort in reducing mass. The same can be said for the RM021 Aerodyne containing a titanium and honeycombed orthorhombic titanium

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Richard Mille, RM038 Bubba Watson, 11/38, Circa 2012 CHF 180,000 - 360,000 A limited edition magnesium-alluminum tourbillon wristwatch with warranty, box and golf bag

aluminide with a carbon nanofber core that arrived in 2009, and certainly looked very impressive with its torque and function indicator, but fell shy of the goal to tip the scales to an even lighter position.

In 2010, we would see a giant leap forward in the quest for superlative performance and lightness with the debut of the RM027 Rafael Nadal. A movement weighing 3.83 grams, when cased and ftted with a strap totalled 20 grams, sounds totally unbelievable, and even when you are holding the watch in your hand it feels like an optical illusion rather than an actual functional timepiece, so strong is the disconnect between the physical and what one’s brain can process. The feat was achieved by producing a monobloc structure for the case back and band with the movement loaded through the front, ensuring increased rigidity for the carbon composite case and the titanium-lithium alloy baseplate. Most impressive of all was the ability of the RM027 to survive the extreme shocks that a tennis player's wrist receives during a match, with Nadal regularly wearing the watch in Grand Slams.

the high centrifugal forces of the swing, and the shock as the club face makes contact with the ball being carried through to the watch, meaning that it is rare for golfers to wear a mechanical watch, not to mention the weight of one infuencing the swing in the frst place. When looking for the ideal candidate to test, Bubba Watson was an obvious choice: as one of the few left handed players on tour who likes to wear a watch, the RM038 created for him would be pushed to its limits of endurance, but survive with no drama.

The original RM027 would provide a philosophical foundation for the matte grey 27-01 in 2013, gradient white 27-02 in 2015, so called “Ronald McDonald” 27-03 in red and yellow for 2017, and most recently, the dark brown 27-04 in 2020 with its tennis net motif wire baseplate, all of which contained radically different movement designs, but embrace the same ideals. Before these line extensions would arrive though, Richard Mille had one more surprise to present in 2011.

To ensure lightness was maintained without compromising strength or ergonomics, the case for the RM038 was machined from a magnesium alloy called WE 54 that is then put through an electro-plasma oxidation treatment called Miarox, which produces a ceramic coating to give exceptional corrosion resistance while remaining biocompatible, an extremely important property for something in contact with the skin for extended periods. The movement is equally impressive, featuring an almost organic curvature to the bridges that is supported by a pair of struts that extend to the centre of the movement, given a sensation of airy elevation comparable to the Millau Viaduct.

Bubba would go on to the US Masters at Augusta in 2012 with the watch on his wrist, perfectly proving its ability to perform under pressure. Its short run of 38 watches would sell out immediately, with Watson’s win producing a “Victory” edition of four pieces, three of which were sold publicly, and most recently a run of 50 RM38-01 that added a g-sensor to the dial.

Having had their watches used in action at Formula 1 Grand Prix races, and the most distinguished tennis tournaments in the world, it was time to fnd another gruelling environment to test watches in. Golf may not seem to be the most demanding sport, but for something that is attached to a player’s wrist, it is about as tough as it gets, with

Richard Mille’s constant pursuit of perfection when it comes to ultralight, durable and ergonomic tourbillon watches that can be worn in any situation is clearly relentless, and while it is an elite club of owners who can proudly say they have acquired one, it should not deter others with the means to dream of what the future may hold.

2016-2020

WORLD It is rather curious to reflect on the last five years where much of everyday life looks so different in 2020 to how it did just 12 months ago, but in a way it is the best summary of what this period has comprised of: vast amounts of change, compressed into a short timeframe.

These years would commence with a raft of movements that have had lasting positive impacts upon the world, from improved LGBT rights, to pushes for gender and race equality across the globe, the majority of this progress achieved through peaceful protest and perseverance, two qualities certainly required in recent times. Combined with a continued climate change activism, embodied by individuals including Greta Thunberg, there was a huge popular effort to refect on the world around us, our collective impact on it, and to do what we could on an individual basis to try and improve it.

Wearable technologies including smartwatches, such as the Apple Watch, were initially met with skepticism by many, but have become an indispensable device for a considerable number of consumers. While they certainly have not supplanted the mechanical watch for telling the time to many enthusiasts (some going as far as “double wristing” to get the best of both worlds), the health tracking and less invasive notifcations have found a receptive audience. It is a cadre that will most likely only grow as the increasing number of sensors, such as blood oxygen saturation and an electrocardiogram, are built into these devices which, when combined with powerful AI, will become a healthcare companion for all.

The so-called “retail apocalypse” arrived with many high street names resigned to the history books, as online shopping came to the fore and retailers were not able to adapt. Amazon’s store front became increasingly mature in a large number of international markets, allowing users to get virtually everything they require from the company.

Supplementing their core retail offering with the Prime expedited delivery service, on-demand video to rival Netfix, a host of Alexa voice assistant AI powered hardware, acquiring the grocers Whole Foods, and the suite of Amazon Web Services

to power all of these entities not only made the company a one-stop shop for many consumer, but also its founder Jeff Bezos the richest person in the world.

The mantra of an app for everything would fnd new frontiers in the late 2010s, with food delivery services, transport solutions (be they car, electric scooter or private jet), dating across all niches, and fnancial products such as share trading and peerto-peer payment creating entire new economies.

From ghost kitchens to cashless transactions, gig workers to bedroom day traders, infuencer marketers to video stylists, there would be a whole range of new jobs that did not exist in years prior.

The COVID-19 pandemic would cause untold damage and uncertainty for many, but it would prove the resilience of the human spirit, forcing use to adapt a new normal, while healthcare professionals on the front line showing exceptional bravery, and scientists toiling away in laboratories across the globe in search for a vaccine.

Prior to the outbreak, the scientifc community would continue its stellar run detecting gravitational waves for the frst time, validating Einstein’s prediction and successfully imaging a black hole.

Solar Impulse 2 became the frst solar powered fxed wing aircraft to circumnavigate the globe in 2016, proving how far technology had progressed in the space, and YouTube’s favourite robot dog, Spot, created by Boston Dynamics (a spin-off of the Massachusetts Institute of Technology), fnally became commercially available.

Once again, in front of a challenging backdrop, there were numerous examples of the strength of the individual, and our ability to do great things when we work together.

INTELLIGENCE|COLLABORATIONS

Friends working together can produce beautiful objects in the design and engineering space, a fact that has been proven frequently in horology. Whether it is a new colourway, the introduction of a cutting edge material or case fnish, more involved reconfguration of a calibre, or a partnership for a good cause, collaboration has been a core theme of horology in recent years and shows no signs of abating.

The earliest projects consisted of watchmakers partnering with other watchmakers to supercharge each other's skill sets, which dates back to the earliest days of timepiece construction with the likes of John Arnold and Abraham-Louis Breguet sharing ideas, the later even taking on Arnold’s son as an apprentice. In more recent times, this is most clearly visible in the work of supergroups such as the Harry Winston Opus series and Max Büsser’s continued work with his friends, or shorter lived collectives like Maîtres du Temps.

These are often high brow efforts containing multi-axis tourbillons or complicated calendar mechanisms, with serious price tags to match, but every now and then we get a watch that contains a bit more whimsy. Alain Silberstein is famed for his use of bright colours and rudimentary shapes that make his models appear signifcantly more playful than the output of more traditional manufacturers.

While his namesake brand may have run into some challenges, Silberstein has brought his signature aesthetic to a variety of watches, including models for MB&F. In 2020, he designed his frst regulator, using a reference from the Louis Erard collection as his base, to create something that not only sparks a childlike joy, but is also extremely affordable.

Retailers have long held an important position for brands to reach the end client, and while in recent years there has been a mover for verticalisation and direct sales, there are still some key authorised dealers who continue to perform their key task

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Louis Erard x Alain Silberstein, Le Régulateur, Circa 2019 CHF 1,000 - 2,000 • A limited edition stainless steel black PVD wristwatch with regulator display, certifcate and box

Audemars Piguet, Royal Oak Offshore Chronopassion, 38/50 Circa 2008, CHF 10,000 - 20,000 A limited edition titanium chronograph wristwatch with date, warranty and box, made for Chronopassion

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with total aplomb: knowing the local market better than the manufacture. A prime example is Chronopassion and its colourful founder Laurent Picciotto, who established a presence selling watches in central Paris in 1988, and hasn’t looked back since.

Over the years, he has played a key role in bringing some of the greatest name in independent watchmaking to prominence, and was one of the earliest retailers for a then little known brand called Richard Mille, established by his good friend of the same name who had been working in Paris for Mauboussin, prior to starting his now iconic brand.

Chronopassion has produced a wide array of limited editions with brands that it represents, including Panerai, Bulgari, Grand Seiko and perhaps the most coveted, an Audemars Piguet Royal Oak Offshore chronograph in sandblasted titanium, all of which have become highly collectible, proving the added value of partnering with someone who has such a close relationship with collectors.

The collaborative movement would really hit a new stride in 2014, as the acclaimed digital publication Hodinkee would begin offering their partnerships with established brands. Founded in 2008, Hodinkee has gained a reputation for frst-in-class content around watches and, having initially been conceived as a blog, has since diversifed into a print magazine, a podcast, their own book published by Assouline, a robust e-commerce offering, and most recently even providing an easy to use insurance service for watches, something that has long been requested by collectors. Its signature video series, Talking Watches, has become a staple for

horological enthusiasts who eagerly await their next instalment, reinforcing how important a resource the site has become for the community.

Its digital storefront initially existed to offer straps and storage solutions, then expanded into vintage watches, before presenting limited edition pieces from MB&F, Zenith, Nomos, Vacheron Constantin, Ressence, TAG Heuer, Laurent Ferrier, Swatch, Omega, Grönefeld, Hermès, IWC, Oris, Blancpain and Montblanc over the intervening years. In 2017, Hodinkee would become authorised dealers for a number of brands, utilising all of the team’s experience in the challenges of the retailer journey to try and make it markedly better, including niceties such as free shipping and returns, as well as an extended warranty backed by them.

What has made the Hodinkee limited editions so successful, with nearly all of them becoming instant sell out items, is the care and attention to detail that they instil in their content in present in the watches.

Not only are the brands they partner with carefully considered to ensure a good ft, but the aesthetic, and sometimes technical, changes made are done in a fashion that is respectful to the manufacturers identity and heritage.

Relationships such as those shared here prove that when there is a close personal connection between the parties involved, and they are deeply familiar with each other's business as well as their respective strengths, the objects created suddenly become substantially more than the sum of their parts, a totem to friendship and collaboration.

Tag Heuer x Hodinkee, Skipper, 013/125, Circa 2017 CHF 4,500 - 9,000 A limited edition stainless steel chronograph wristwatch with date, guarantee and box, made for Hodinkee

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Grรถnefeld x Hodinkee, 1941 Remontoire, 3/12, Circa 2018 CHF 18,000 - 36,000 A limited edition stainless steel wristwatch with remontoire, warranty and box, made for Hodinkee

MUSINGS|MODERN PATEK PHILIPPE CHRONOGRAPHS

Black and white has the ability to focus the mind, the stark contrasts of monochrome distilling crucial information in the most succinct fashion possible.

It is a key reason why so many watches destined for utilitarian environments are born with black dials set with bright markers and matching hands, to ensure quick and accurate time reading under any condition. Couple this with a hard-wearing stainless steel case and you have the very defnition of a tool watch, be it an aviator's chronograph or a diver’s three-hander with rotating bezel.

This life under challenging conditions is part of the reason why so few Patek Philippe watches existed in the black dial, white metal combination prior to the modern era, particularly chronographs. We have a few key examples that were born in this confguration, such as the oversized Calatrava reference 530 produced with black dial and Breguet numerals housed in an acier casing, and a few reference 565 screw back watches, the most famous of which being the so-called “Night Watchman” with luminous accents, that was gifted by Patek Philippe to a member of the security detail. And, of course, we cannot forget the reference 1463 chronograph in a similar arrangement that was made for the famed entrepreneur, inventor and sportsman, Briggs Cunningham.

The undeniable beauty of the format has meant that in recent years, quite a few pieces leaving Plan-les-Ouates have featured the contrasting palette, especially on the complicated end of the range. The frst model that would spring to mind for seasoned collectors would be the reference 5170G in white gold with black dial and Breguet numerals, most frequently seen due to its relatively generous production, made possible by its “simple” chronograph calibre. When the watch debuted in 2015, it was met with almost universal praise from the collectors’ community, thanks to its trifecta of highly coveted attributes, but also for presenting them in a wonderful 39.5mm package that contained one of the great, pure chronograph calibres of modern times.

A reference that has become something of a grail for many enthusiasts is the reference 5970 perpetual calendar chronograph, and the fnal variant in platinum introduced in 2008 is the most coveted, not only for its casing in the most noble of metals, but the black dial ftted. Mounted with faceted baton hour markers, white outer tachymetre scale and interior subsidiary dials for the variety of additional calendar and chronograph indicators, the dial feels complete, and the proportions of the 40mm case make the watch eminently wearable for

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Patek Philippe, Ref.5970P, Circa 2009 CHF 135,000 - 230,000 A platinum perpetual calendar chronograph wristwatch with certifcate and box

Patek Philippe, Ref. 5370P, Circa 2017 CHF 125,000 - 160,000 A platinum split seconds chronograph wristwatch with black enamel dial, Breguet numerals, certifcate and box

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a wide range of wrist sizes. While the previous series reference 3970 perpetual calendar chronograph, which superseded the hallowed reference 2499, had been made available with a black dial, the vast majority featured diamond-set hour markers, and were spread across white gold and platinum, so the 5970P, in many ways, ushered in the white metal, black dial as a standardised confguration.

The situation gets even more interesting as one moves further up the complication scale to the reference 5370P. Representing something of a super 5170G black dial in many ways, the two models were introduced alongside each other in 2015, with the 5370 upping the chronograph factor by adding the rattrapante function and enlarging the case to 41mm. Looking at the details, the true elegance and value of the 5370 shine, from the lustrous enamel dial, to the carefully scalloped case, the luminous hands that lend a degree of practicality, and, of

course, the split seconds button atop the crown, the 5370 is a true sleeper watch; it would attract little attention from most, but contains one of the most challenging complications to execute that could only be done by a manufacture as revered as Patek Philippe.

It is ftting to draw a line under this rundown of contemporary Patek Philippe watches with a focus on chronographs by discussing the reference 5204P, that takes so much of what makes the 5370P great, and combines it with the perpetual calendar complication. Featuring more traditional stepped legs and marginally more compact diameter, although slightly thicker due to the calendar functions, the reference 5204 is easy to overlook in the Patek Philippe range, particularly when they are so rarely seen in the wild, but it has be considered among the greatest watches from the company’s recent catalogue.

Underneath it all, what makes the combination so satisfying on the wrist for those lucky enough to enjoy it? Perhaps it is the juxtaposition of what many to consider to be the greatest of manufacturers in the echelons of haute horology, replete with all the fne fnishing and attention to detail that one would expect, using a confguration that is most commonly seen on a utilitarian models from less prestigious brands that are destined for a far less pampered life. There is also the stealth

factor when wearing these references; platinum and white gold can easily pass for stainless steel to the unsuspecting admirer, while those ftted with a black dial ensures that it only draws the eyes of those who are really looking for it, and, of course, the legibility factor that we opened this discussion with, as well as the overall aesthetic merits of the combination. Whatever the justifcation, it is hard to deny the beauty of these watches, and the pleasure that their owners derive from them.

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Patek Philippe, Ref. 5204P, Circa 2014 CHF 140,000 - 200,000 A platinum perpetual calendar split-second chronograph wristwatch with moonphases, day and night indication, leap year indication, certifcate and box

ICONS|THE PATEK PHILIPPE REFERENCE 5316

Minute repeater, tourbillon, perpetual calendar: the complications contained within the Patek Philippe reference 5316 provide a welcome refresher on combining functions across the watchmaking spectrum, and what true fne fnishing means in the traditional sense, in an era when the watch world has become increasingly enamoured with ever outlandish complications and overt movement aesthetics.

The origins of the reference and the movement contained within it tell an interesting story of the history of Patek Philippe over the last three decades.

The calibre R TO 27 PS QR (R for répétition, TO for tourbillon, PS for petite seconde, and QR for quantième rétrograde) made its debut in 1993 within the reference 5016, which, at the time, was the most complicated watch offered by Patek Philippe. It would remain so until the arrival of the reference 5002 Sky Moon Tourbillon in 2001, and would eventually be superseded by the reference 5216 in 2011. During its 18 year production run, the reference 5016 would be presented in a whole host of precious metals, and would even make a brief reappearance in 2015 as a pièce unique for Only Watch, executed in stainless

steel with a blue enamel dial. It would sell for 7.3 million Swiss francs, frmly placing it among the most expensive watches ever sold at auction.

Where the 5016 would house the multi-complication calibre within a compact 36.8 mm case that featured a number of design elements, such as stepped lugs, that echoed references including the 2497 and 2499 born in the 1950s, its successor would take a different path. With its more modern diameter of 39.5mm, combined with an aesthetic encompassing lugs that fow into the case and faceted baton hour markers, taking inspiration from the great Calatrava models such as the reference 96 and 570, it felt like a very different watch. But looking at the dial, the similarities were apparent, thanks to its distinctive three windows for the day, leap year and month indications, and of course the unusual retrograde calendar indicator that Patek Philippe debuted on a serially produced watch with the 5016, and its sibling, the reference 5050, way back in 1993.

The 5216 would see a signifcantly shorter production run than its predecessor, lasting six

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Patek Philippe, Ref.5316P, Circa 2019 CHF 270,000 - 550,000 A platinum minute repeating perpetual calendar wristwatch with tourbillon, retrograde date, enamel black dial, moonphases, certifcate and box

years before being discontinued in 2017, at which time it ranked as the ffth most complicated watch in the standard production catalogue, behind the references 5207, 5208, 6002 Sky Moon Tourbillon, and 6300 Grandmaster Chime. Fortunately for the most distinguished Patek Philippe collectors, it would be immediately replaced by the reference 5316, that would combine the best of the two previous iterations.

Utilising the earlier case style of the 5016, with its pronounced stepped lugs, but increasing the diameter to 40.2mm, it not only made the watch more wearable for larger wrists, but would also give more interior volume for the repeater gongs to resonate.

Initially offered exclusively in platinum, the 5316 was ftted with a contrasting black enamel dial, mounted with faceted baton hour markers carried over from the reference 5216 (and distinctively different from the 5016, where nearly all watches featured Breguet numerals).

One of the great pleasures for owners of references such as the 5316 which contain the R TO 27 PS QR calibre is taking it off the wrist and admiring the movement. Until very recently, this was the

only way to view a Patek Philippe tourbillon in action (with the arrival of the reference 5303 and its transparent dial), a welcome glimpse into a masterclass in classical Geneva fnishing. Its elegant radial striping, contrasting perlage to the baseplate, anglage to the edge of the bridges, and judicious use of black polishing throughout, it is a feast for the eyes.

Its most pronounced feature is the gold third wheel, with its stylised arms which are carefully pierced out of the metal, that beautifully matches the tone and technicalities of the Calatrava cross that covers the governor for the repeater. All of this comes together to showcase the virtues of Patek Philippe, particularly their renown for the sonic quality of their chiming watches.

The fascination of this combination of complications for Patek Philippe for collectors is not just the horological tour de force that they represent, but their ability to cement one’s place as a truly distinguished connoisseur of watchmaking, who can forgo openworked dials, celestial maps, and extravagant case decoration for a relatively inconspicuous dial format, a repeater slide to the side of the case, and a tourbillon spinning away inside.

2016-2020 CULTURE With so much that has occurred culturally in just a few short years, there are a few underlying themes that would certainly motivate some of the events that would ensue.

The streaming wars would really push forward original content from the behemoths that have come to dominate the space, the originator in the form of Netfix, with the likes of Amazon’s Prime Video, Disney+, Hulu, Apple TV+ and HBO Go, to name just a few of the services joining the battle for viewership, consumers would be spoilt for choice across all the platforms, but would feel a bit fatigued by the number of subscriptions, and associated capital outlay, to get access to everything. Broadcast TV would be dominated by George R. R. Martin’s fantasy smash hit Game of Thrones, that would come to an end after nine seasons in 2019, leaving mixed feelings among its passionate fan base.

Music would see a resurgence of funk and soul, with names such as Bruno Mars and Ed Sheeran being almost constant fxtures of charts around the world. The movie Parasite would bring renewed interest in international cinema, in particular flms from Korea, with the country becoming a media power house, producing TV shows that would fnd international success, and its wildly successful K-pop music scene that would foster brands such as BTS that have become cultural ambassadors for the region.

The 9th generation of video game consoles, consisting of the Playstation 5 and Xbox Series X, promised a variety of technology improvements, including 4K visuals and ray tracing to make lighting more natural, with a number of franchises discussed in the first section of this book, including Grand Theft Auto and Call of Duty continuing their successes many years later. Another new initiative for the industry was cloud gaming services, such as Google Stadia,

Amazon Luna and Microsoft Project xCloud, which have had a bump start but clearly present a vision for the future.

Urban art would become a key part of popular culture, providing a more egalitarian platform for artists such as Banksy, who created public works around the globe to be enjoyed by a wide audience. He would also pull off one of the greatest performance art stunts when his iconic work Balloon Girl would partially shred itself as the hammer dropped on its sale at Sotheby’s London auction in October 2018, creating the newly titled work Love is in the Bin. Kaws would also embarrass large installations that could be enjoyed by the public, with his Holiday series that took his Companion works on tour, most notable to foat around Hong Kong waterways.

Sport would see a number of outsiders come through and win prestigious championships, including Leicester City winning the 2016 Premier league having had odds of 5000-1 at the beginning of the season, and the Toronto Raptors becoming the frst Canadian team to take the NBA title, defeating the Golden State Warriors in 2019, whilst one of the greatest quarterbacks the NFL has ever seen, Tom Brady, surprised many by leaving the New England Patriots after the 2019 season, where he had spent 20 years and led the franchise to an unprecedented six Super Bowls, to join the Tampa Bay Buccaneers.

With all the challenges that 2020 has presented, it is satisfying to look back at this period and see not only how much we have progressed, but to be hopeful about the artistic endeavours of people all over the world.

MUSINGS|FUTURE DESIGN CLASSICS

A topic we have touched upon at a few points in this book is how the watch has crossed over into popular culture during the last two decades, from a niche enthusiast object, to something that is referenced in popular music, appears in contemporary art and is name dropped in best-selling novels. This is part of a wider movement that has seen the humble watch elevated above its mere technical achievements into a cultural artefact and a bona fde design object.

This has been lead from the front by the decadesold stalwarts of the horological sub-genre, including the Patek Philippe Nautilus and the Audemars Piguet Royal Oak, both famously designed by GĂŠrald Genta, and more utilitarian icons such as the Rolex Submariner and Omega Speedmaster.

We are privileged to live in a time where we continue to see these legendary models produced not only in a relatively pure form, but with a wide range of derivatives to satisfy all tastes, whilst also being able to witness the rise of new icons over the past two decades.

It is incredible now to think that the J12 has just celebrated its 20th birthday with an upgraded

movement and some cosmetic tweaks; given how minor the updates were proves the timelessness of Jacques Helleu’s design. A perfect example of the success that can be achieved when someone outside the horological sphere turns their pen to watch design, Helleu managed to distill all that makes Chanel, well, Chanel, into execution that takes inspiration from classic dive watches, but reinterprets the idea in an entirely new way. Perhaps his masterstroke was crafting the case and bracelet of scratch resistant ceramic, rarely used in timepieces then, allowing the watch to work alongside diamond jewellery with minimal risk of damage.

The J12 was also groundbreaking in another sense: it was the frst watch to embrace the concept of a unisex timepiece, not being marketed specifcally to women or men, and offered in a size that could be worn by both. The J12 provided the catalyst for Chanel to take watches seriously and has resulted in the company taking sizeable stakes in the industry, including owning a number key suppliers, purchasing Romain Gauthier, partnering with Tudor on a movement manufacture, and even taking a signifcant stake in F.P. Journe.

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Chanel, J12 “Mademoiselle”, Circa 2017 CHF 12,000 - 20,000 A set of two ceramic wristwatches with certifcates and boxes

Another name for whom horology did not make up the majority of their portfolio, but has gone on to have a hand in designing the most widely worn watch in the world, is Marc Newson. To design afcionados he is best known for his Embryo chair and the spectacular Lockheed Lounge, which have become stars of international design auctions, but his oeuvre spans cars, bicycles, boats, aircraft, luggage, writing instruments, kitchen appliances, clocks, clothing, and consumer electronics.

of a pebble that had been polished by the sea. The rubber straps appeared to fow into the case and closed with the pin and tuck format that has become a key part of the Apple Watch design. The Horizon would also provide a platform for collaborations with KAWS and Jeff Koons that have since become highly collectible, but it is the test bed offered for the design elements that have become intrinsic to the success of the Apple Watch that will leave the biggest impression on the world from Ikepod.

In 1994, he founded Ikepod with Oliver Ike, and would create a number of designs building on his earlier Pod concept, including the Seaslug, the Hemipode and Solaris. Newson’s purest design for the company would be the Horizon that distilled all time telling down to two hands over a sparse dial, contained within an organic case shape reminiscent

Another rich vein that has bought design into the forefront of the watch conversation is the push from jewellery brands into horology. There is certainly a long history of the most important companies producing timepieces, including the likes of Cartier and Van Cleef & Arpels from the frst half of the 20th century, and Bulgari have had a number of

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Ikepod, HHR70, No.54, Circa 2007 CHF 1,000 - 2,000 • A limited edition 18K pink gold wristwatch with certifcate and box

iconic designs, including the Serpenti and Diagono ranges (which has since seen a revival as simply the Aluminium), but much like Chanel, it's a spate of acquisitions that confrmed its watchmaking power.

In 2000, prior to the company being part of the LVMH group, it acquired the brands of Daniel Roth and Gérald Genta from The Hour Glass, the famed retailer in Singapore, and while Roth certainly provided a decent amount of value in the transaction, it was the strength of Genta’s design portfolio that would really elevate Bulgari’s status in the watch space.

with the world’s thinnest tourbillon, alongside a time only hand-wound watch in 2014, before fnding wider appeal when the automatic time only version appeared in 2017. While the Genta DNA is clearly visible, it really pushes the language into the future with its stark angles, sharp case edges and extensive use of matte surface treatments.

The model has proved a fertile platform for the use of a variety of case materials including steel, titanium and ceramic, as well as limited editions for regions, retailers and even a collaboration with the acclaimed Japanese architect Tadao Ando.

We have already mentioned how key the Royal Oak and Nautilus have been in making design such a key part of watchmaking, and by having the same designer’s Octo model as part of the Bulgari range, it provided a frm foundation for their team to build an entire range. There have been multiple variants over the years but they really hit upon success with the Octo Finissimo collection that was introduced

Suffce to say, the importance of design in watchmaking has become increasingly important as the demographic of enthusiasts has changed from those of a more technical inclination, to a wider market that is sensitive to aesthetic harmony, cultural signifcance, and the wider narrative around design, proportions and ergonomics.

It certainly feels like a trend that is here to stay.

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Bulgari, Octo Finissimo - Tadeo Endo Edition, Circa 2019 CHF 5,500 - 12,000 A limited edition titanium wristwatch with warranty and box

Ming, Prototype Concept, Circa 2020 CHF 40,000 - 80,000 A set of three stainless steel and titanium prototype wristwatches: Chronograph, Diver’s and Time only, guarantee and box

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MUSINGS CONSIDERING INDEPENDENTS In the first section of this tome, we looked at the beginnings of independent watchmaking in the modern era, considering the names that have become celebrated over the last 20 years.

H. Moser & Cie, Endeavour Perpetual Calendar, Circa 2018 CHF 15,000 - 25,000 A 18K pink gold perpetual calendar wristwatch with power reserve, warranty and box

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What these individuals stood for, the art of fne fnishing, the quest for precision using the very best of traditional watchmaking, the approach to considered design throughout their products, have become industry wide mantras, with even the large groups instilling some of these virtues in their very best models.

So maybe it is time to think about what genuinely defnes an independent brand in today’s industry.

When Audemars Piguet, Patek Philippe and Rolex technically qualify, but the likes of A. Lange & Söhne and the Micro Artist Studio of Seiko do not, even though they hold a similar appeal as storied AHCI members for some collectors, it seems clear that the goalposts can move somewhere. The clearest takeaway is that, much like the word turbo applied to an electric car, there is an underlying sensation that makes some of these terms valid, even if they are not academically correct.

In the clearest defnition of the word when related to watchmaking, an independent is a company that is not part of a conglomerate, hence why some rather large organisations can qualify. But the waters get a bit murky when a minority stakeholder maintains a similar position across a number of maisons, such as Chanel’s 20% stake in F.P. Journe, when they are outright owners of the Bell & Ross and Romain Gauthier brands, as well as shareholders of Kenissi manufacture movements and G&F Chatelain who produce the ceramic cases and distinct sprung clasps for the J12 and other companies. Outside of Geneva, Greubel Forsey are exceptionally well regarded for their work with the tourbillon and complications such as the sonnerie (not surprising given the two founders’ early work at Renaud & Papi), so when Richemont took a 20% stake in the company in 2006, it made perfect sense as a way for the group to leverage the team’s talent for special project at their most important brands.

There is no debating these two companies’ position as independents, so it certainly needs further consideration. Membership of the Académie Horlogère des Créateurs Indépendants would seem like another good barometer, given the name of the organisation, and a look at the member’s list shows

a number of illustrious names. Yet there are many highly regarded watchmakers who are not among those shown, so it is not a perfect litmus test, a byproduct of a rigorous election process with some of today’s best artisans too caught up in establishing their brand to go through the steps.

Then we have to consider those brands that are not run by one singular trained watchmaker, working away at a bench with a small team around him, but are actually a more sizeable organisation often lead by someone with a business or design background, yet still holding much of the independent ethos close to their heart. Maximilian Büsser, who we covered earlier in this book, is perhaps the founding father of this structure, having not trained as a watchmaker, but would prove a master at connecting the most talented watchmakers and artisans to create something amazing together.

A more recent manifestation of this philosophy is Ming Watch, headed up by the polymath, Ming Thein. Having had a past life in private equity, Thein would quit his day job realising it was not how he wanted to spend his time, to pursue a career as a professional photographer. With a portfolio that now spans multinational clients from a wide gamut of felds including automotive, industrial, architectural, jewellery to name just a few, resulting in an incredible collection of images, his time behind the camera would lead to senior roles at Hasselblad and DJI. In 2017, Ming Watch would be founded by Thein and a willing band of accomplices who all have a passion for horology, starting with the model 17.01, followed by a GMT version 17.02, then debuting the 19.01 powered by a bespoke calibre, before the arrival of the 19.03 Worldtimer in the initial phase of the company. Its partnership with SchwarzEtienne (the company is also refreshing transparent about its suppliers) have allowed Ming Watch to really move into a new phase of its evolution of the brand, best displayed in the intricate case work for the 27.01 ultra-thin, the outstanding mechanical properties of their dive watches, and the impressive integration of the Agenhor chronograph calibre into the elegant design language established by

Voutilainen, L'Esprite du Bois, Circa 2012 CHF 135,000 - 225,000 A unique 18K white gold decimal minute repeater wristwatch with dual time zone indication, engraved and enameled caseback, warranty and box

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Ming. So while Thein and Co. do not have their hands in the assembly of the pieces, they consider every other aspect, from the straps supplied by Jean Rousseau to the packaging that has even included fascinating puzzle boxes, and the typography to the ergonomics, it is a wholly integrated process that is done with as much passion as any independent.

Another company that does not ft the traditional mould of an independent watchmaker, but is viewed as one by many collectors is H. Moser & Cie. With offerings that are produced almost entirely in-house, including the balance spring that is often the missing link for many manufacturers, and a highly visible CEO in Edouard Meylan, the company is technically part of a small group under MELB Holding, but has such spirit for forging their own path and thinking radically, it makes abundant sense to consider them as an independent.

So what of the old guard in all of this? As their names have become more established over the last

two decades and more, with order books growing and new watchmakers joining ateliers to keep up with demand, some of them have metamorphosed into organisations that would be hard to recognise, given their origins, but are still operated with the same passion and fortitude as when it was one person at their bench. Kari Voutilainen, as well as a number of his peers, has been able to integrate much of his production under the company, acquiring case and dial suppliers to allow great control over the fnal product.

The one clear takeaway from this conversation is that there is no clear cut defnition that will be universally agreed upon, and there will continue to be debates among collectors as to what an independent really is. But the one thing that we can be sure upon is that, in our hearts, we know who stands up for the ideals of these true artisans, the quest for beauty and perfection using century old skills within these mini mechanical marvels.

MUSINGS|THE MANY SHADES OF THE ROYAL OAK

Perhaps one of the great unnoticed themes, certainly within the last decade, is that of the line extensions.

Much like the automotive industry where effciencies come from scale and extrapolation of an existing product, using its underpinnings to create something new, the watch industry has learned from its four-wheeled counterpart.

For many brands today, that might be a new dial colour, case material, or a complication module added to an existing calibre, but for those companies that want to take a more involved approach, it could consist of taking the DNA of an existing product and imbuing it within a new range.

Audemars Piguet have provided a masterclass in this with the Royal Oak, the now iconic luxury sports watch that debuted in 1972 and has spawned a myriad of variations since. Of course, there are the clear branches from the main line in the form of the Emmanuel Gueit penned Offshore that we have discussed previously alongside the Concept, but is it the subtle variations that prove the strength and adaptability of the Royal Oak, which might look like relatively minor modifcations, but in fact show considered elegance in their details.

It is now possible to acquire a Royal Oak in 33mm, 34mm, 37mm, 38mm, 39mm, 41mm, 42mm, and 44mm, across a mixture of complications from simple time and date all the way through to an openworked grand complication, and this doesn’t include the Offshore and Concept lines. As it has always been said, variety is the spice of life, and the Royal Oak range has more than enough variation to keep Audemars Piguet’s broad client base happy.

It is easy to assume that a change of dial colour is a relatively straightforward update, but as experienced collectors have seen, there are situations where it goes very right, and an extended list of examples for which the execution has been less than perfect.

Salmon is among the hottest options in the market, with a history of top-tier brands offering the option as far back as the 1930s; the Royal Oak featured a pink-hued dial most prominently with the Jubilee collection that was launched in 1992 for the 20th anniversary of the model, with reference 14802 becoming highly coveted.

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Audemars Piguet, Royal Oak Chronograph, Circa 2006 CHF 25,000 - 45,000 O A 18K white gold chronograph with salmon dial, warranty and box

The colour has made an appearance across various levels of complications over the years, including the most recent reference 15202 cased in white gold, but there is an argument to be made that the colour is best suited to chronographs and perpetual calendars, where the acreage is broken up by subsidiary dials of some description. The high level of interest from collectors when these confgurations come to market, either as a new release or when they show up further down the road, proves that it certainly speaks to a sizeable segment of the market.

Second to the time and date format of the original reference 5402 A-Series from 1972, it is the perpetual calendar that has become the most identifable model for the majority of enthusiasts.

Introduced in 1985 as the reference 25554 (previously known as the 5554) the dial was particularly clean thanks to its lack of leap year indicator, and a lion's share of the watches was ftted with a fat rather than the tapisserie engraved dial that has become so familiar today. There is now a cult following for these early watches, or in fact any of the 39mm versions, whether with leap year or without, fat dial (particularly the rare colours such as fat black) or openworked, stainless steel or precious metal, the breadth of confgurations means that there is almost certainly something to satisfy any taste.

Putting aside these rare early watches, there is something to be said for the current run of 41mm

iterations of the Royal Oak perpetual calendar with its week indicator, especially in the traditional stainless steel with blue dial, even if the ceramic versions are the most hotly contested. There is plenty of debate around the preference for acier et bleu, but there is no denying that GĂŠrald Genta struck upon an extremely compelling confguration with his frst design.

What makes the Royal Oak fascinating for so many is how such a storied manufacture has been able to combine their traditional haute horlogerie skills and extensive pool of talent for complicated watchmaking, with a model that is so sporty and is frequently worn in such a carefree manner. It is not hard to imagine a dashing customer of Audemars Piguet emerging from a dip in the Mediterranean at Le Club 55, with a tourbillon equipped Royal Oak on their wrist showing minimal attention to their watch, safe in the knowledge that it will always be a close and reliable friend.

This duality of the Genta designed icon allows the Royal Oak to continue captivating the watch collecting community after all these years. On the one hand, it has the aesthetic balance and consideration that makes it so easy on the eyes, even for those with little understanding of watchmaking, yet it is so fnely fnished and carefully executed that it will hold up to close inspection with a loupewielding savant who will inevitably walk away impressed. That is the magic of the Royal Oak, in all its various favours.

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Audemars Piguet, Royal Oak Perpetual Calendar, Circa 2019 CHF 25,000 - 45,000 A stainless steel perpetual calendar wristwatch with moonphases, week indication, warranty and box

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Audemars Piguet, Royal Oak Offshore Tourbillon, Circa 2008 CHF 50,000 - 80,000 A stainless steel chronograph wristwatch with tourbillon regulator, warranty and box

2016-2020 WATCHMAKING Over the last few years, the watchmaking industry has seen an incredible amount of progress in such a short period, as outside factors have pushed the industry forward in ways that historically would simply have not occurred.

With social media and digital communication becoming the preferred methods for enthusiasts to share their passion, we have seen a dramatic breakdown of geographic barriers among collectors, as they found each other on relatively public platforms such as Instagram, and formed tight, private groups focusing on particular niches through messaging services such as WhatsApp. This dramatic increase in conversations, and respectful debate about the various pros and cons in horology that have always surfaced at infrequent face to face gatherings, now happen daily across time zones, closing up the feedback loop and allowing brands to react far quicker than was possible in the past.

This method of more direct interaction between the manufacturers and the end clients has even opened up innovative methods for product development, such as the Autavia Cup from TAG Heuer.

The creative teams can also read online comments and message directly those who are most passionate about their respective brand for more involved feedback. It has been a fascinating process to witness, and while the results are not always perfect, it is exciting to think what might be possible in the future, thanks to these channels.

2016 to 2020 has witnessed the continuation of two trends we have covered elsewhere in this tome: a focus on form rather than technical achievements, allowing brands that historically were more associated with jewellery or fashion to increase their standings with even the most ardent collector. This was further aided by strategic acquisitions of small independent brands and key suppliers to give an edge, by producing robust calibres at scale, or securing important expertise in areas such as material engineering.

The second dominant theme is the continued leveraging of brand heritage, with manufactures dipping into their archives for inspiration while also using their research as a communications tool. It is easy to feel sometimes blasĂŠ by the efforts, but the joy of an important vintage model being reimagined for the modern era often feels magical when serious energy is put into it by the right brand to realise a truly special watch.

Of course, 2020 has been a testing year throughout the industry, with a number of brands falling by the wayside, an upheaval in the regular watch fairs leading to the end of the institution that was Baselworldl those that have made it through so far have certainly learnt extremely valuable lessons during this period of immense transformation.

The importance of e-commerce and local clientele rather than those traveling internationally has been clearly proven, and has been a boon for smaller brands who have fostered strong, lasting relationships directly with clients, and buoyed the market for the most signifcant independent brands.

With multiple records set at the top end of the chart for the most expensive pieces sold at auction, new interest in horology from younger generations that appreciate the human experiential connection to these mechanical objects, and a more consolidated industry made up of stronger brands, there is plenty to be hopeful for when considering watchmaking in the future.

MUSINGS|HERITAGE INFLUENCES

Moving forward requires a degree of hindsight, particularly in an industry as storied as watchmaking. With centuries of technical advances and stylistic fourishes, it provides a rich archive to draw inspiration and learn lessons from. Among the greatest undercurrents that has defned the past 20 years of horology is the focus on brand heritage and the storytelling that surrounds it. With so many defning moments in history, from man stepping foot on the moon to Trieste’s record dive in the Mariana Trench, all having a watch in close proximity, it is not surprising that brands have taken a keen interest in their respective pasts.

With new museums constructed, archives teams put together, production records digitised, important pieces purchased at auction, and entire service teams dedicated to supporting collectors of vintage references, it is a tangible commitment from most of the major manufacturers, which has fortunately paid for itself when the design teams have come looking for inspiration for upcoming novelties. It is easy to think that this is something that has always existed, and for brands that have continuous history and relatively small production numbers such as Breguet or Audemars Piguet, there are extensive records. But there also a number of companies that suffered dearly during the quartz crisis, had records destroyed through accidents,

or simply produced so many watches that it was hard to keep track, and have had to forensically investigate their history, which in many ways has taken more effort than visiting a basement or cellar to dust off old records and blueprints.

Across the gamut of scenarios, Patek Philippe has only a few peers for the completeness of records, commitment to the company’s heritage, and its ability to maintain even their oldest watches.

A dedicated department exists to service vintage references, and parts that are not maintained in stock can be fabricated again, a rather unusual capability within the industry, ensuring continuous support. With a dedicated museum and collection located in the centre of Geneva since 2001, and with a number of academic historians acting as its, a visit has become something of a rite of passage for watch enthusiasts. What is particularly impressive about the museum is that it is not only dedicated to pieces bearing the Patek Philippe name, but offers a complete history of timekeeping and the métiers d’arts fundamental to the industry.

The 2,000 plus exhibits and vast horological library containing more than 8,000 publications have proven extremely valuable to the designers at Patek Philippe, where collections show constant progress while maintaining respect for the lineage

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Patek Philippe, Ref.5959R, Circa 2018 CHF 180,000 - 360,000 A 18K pink gold split seconds chronograph with black dial, Breguet numerals and certifcate

of the brand. Many of the designs can be viewed as traditional, such as the Calatrava collection, and even the relatively modern Nautilus and Aquanaut ranges show continuity with their original references, and periodically we see new releases that are so clearly tied to icons of the past it is impossible to ignore. Watches such as the reference 5524 Calatrava Pilot Travel Time that draws inspiration from the prototype hour angle model from the 1930s (one of which sold for 1.8M CHF at auction in 2009), or even more faithful interpretations such as the reference 5070 chronograph, which was frst released in yellow gold with black dial that was the spitting image of the reference 2512 chronograph produced in 1950 (showing up at auction in 2000 and realising 1.4M CHF).

Perhaps the closest Patek Philippe have come to producing a facsimile of one of their vintage watches is the reference 5959, which can trace its heritage all the way back to 1903, when production of movement 124824 began, eventually mounted

in case 235326 for sale in 1923 (it would reappear at auction in 2014, achieving 2.965M USD).

The reference 5959 made its debut in 2005, containing the world’s thinnest column wheel actuated split-seconds movement. Calibre CHR 27-525 PS was even more noteworthy in the fact that it was the frst in-house developed chronograph movement from Patek Philippe, and would sow the seeds for a transition that is now seen as a pivotal moment for the company. With its extended straight lugs and strap mounted by screws, the so called “Offcer’s case” design, and debuting with a stark white dial decorated with black Breguet numerals, when the 5959 is held next to its forefather, the family lines are abundantly clear.

One of the few manufacturers that can hold a candle to Patek Philippe in the completeness of their archives and their support for their vintage watches is Audemars Piguet. A pioneer in efforts to share their history for educational purposes and utilise it as a communication tool, the heritage team

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Audemars Piguet, (Re)Master 01, Circa 2020 CHF 30,000 - 50,000 A limited edition stainless steel and 18K pink gold chronograph wristwatch with warranty and box

in Le Brassus have been highly visible members of the company, frequently appearing in videos and producing a number of scholarly books, which have become invaluable resources for collectors.

A crowning moment in the company's history was the opening of the Bjarke Ingels Group designed museum which opened in 2020.

While the company has iterated upon the classic lines of the Royal Oak and respected traditional fne watchmaking with their complications, particularly in the Jules Audemars line, they had not truly reissued a design until the introduction of the [Re]master01 in early 2020. While not an exact replica of the reference 1533 from the 1940s, it carries over a number of its most signature design elements and gently reinterprets them for the modern era. Fitted with the impressive in-house automatic chronograph calibre 4409, the case, enlarged to 40mm, is a fne example mid-century watch design, with its teardrop lugs and subtle two-tone case made up of a stainless steel centre portion, with pink gold bezel, crown and pushers.

It is the dial where the attention to detail of the team in Le Brassus really shines from the choice of typography, the red ‘45’ on the minute recorder and the long “Audemars, Piguet & Co Genève” carried over from the original, the [Re]master01 is a fne example of what a brand can achieve when they choose to refect on their past and push it into the contemporary.

For each of these storied companies with exceptional record keeping and archives, there are those that fnd themselves starting afresh. One such manufacture is TAG Heuer who, during the volatile times of the quartz crisis, lost a large proportion of the company’s records, requiring the heritage department to build up a new knowledge base from a wide variety of sources, and have since been able to create a more complete picture of the company history. This was aided by Jack Heuer who witnessed it frst hand, and by inspecting some of the many important vintage Heuer watches that reside in important collections. This has led to a slew of reissues, including a new Autavia whose design was directed through an online vote, as well as updated Carrera models leveraging elements of their iterations from the 1960s, chief among which is the so called “Skipperera”. Produced as a collaboration with Hodinkee in 2017, it took inspiration from the original reference 7754, including its signature colour palette, together with the dial confguration of the reference 3147 Carrera Dato. When the watch was launched it was an instant success, a frm indicator of the watch collecting community’s interest in honest reinterpretations of classic designs.

Between those with continuous history and others who had to virtually start from scratch, there are a few that fnd themselves in a curious middle ground. One of the most famous stories comes

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Omega, Speedmaster “Racing Japan”, Circa 2004 CHF 6,000 - 10,000 A limited edition chronograph wristwatch with “racing” dial, warranty and box, made for the Japanese market

Zenith, El Primero Lupin The Third, Circa 2020 Estimate on Request • A unique stainless steel chronograph wristwatch with date, guarantee and box. Proceeds will be donated to a charity foundation

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from Zenith, who fell on hard times during the quartz crisis, much like their now stablemate at LVMH in the shape of TAG Heuer, but was saved by the perseverance of a senior engineer by the name of Charles Vermot. Disobeying a direct order from the new owners of the company to destroy the tooling, Vermot carefully hid the patterns, dies, jigs and other tooling together with the documentation of the manufacturing process for the El Primero calibre in an attic. Not only did this shrewd move allow Zenith to supply Rolex when they needed a base calibre for the automatic Daytona, but would allow the company to continue the El Primero line into the modern era, resulting in a number of faithful reissues of the iconic references A384 and A386 in recent years.

Perhaps the most important takeaway from these stories of company heritage is that the watches are an important part of the history of these sizable corporations that employ hundreds and thousands of people, and it is this anthropological connection that makes these objects so fascinating to many of us. These individuals might be skilled watchmakers restoring a vintage watch, the diligent archivist researching the history, or a design taking inspiration from the past for the future, they all play a key role in creating and maintaining these beautiful, mechanical artefacts while imbuing them with an intangible historical connection.

ICONS|THE PATEK PHILIPPE REFERENCE 5531

Reserved for the early jet set that required the ability to keep track of multiple time zones simultaneously, the world time complication has held an elevated position since it made its serial production debut with the Patek Philippe reference 1415 in 1939. Due to low production numbers, and sparsely offered references over the decades since its inception, it is easy to trace the continual lineage of Louis Cottier’s work with Patek Philippe, but it is curious to note that along the path, there are very few instances of the world time city ring appearing with another complication.

Early on in its existence there was the reference 1415 with chronograph added that was produced for a doctor (easy to recognise with the pulsation scale) that would directly inspire the modern reference 5930 world time chronograph, but even with a signifcant amount of consideration, it is hard to think of further examples beyond those ftted with moonphases for the company’s 175th anniversary, references 5575 and 7175.

This would all change in 2017: as Patek Philippe prepared for their second running of the Grand Exhibition in New York (the frst having taken place in London in 2015), it was well known to the collectors’ community that there would be a series of coveted limited edition models to commemorate the event. And while it was the reference 5522A steel Pilot’s Calatrava that would attract the attention of the masses, for the most savant collector there was delightful surprise in the arrival of the 5531R World Time Minute Repeater.

On the surface, it appeared to be an automatic minute repeating calibre R 27 that has been used as a base for watches such as the reference 5078 and the 5208, ftted with the world time module on top, but of course this is a wild over simplifcation of the set up. Patek Philippe being Patek Philippe used the reference 5531 as an opportunity to debut a patented mechanism that allows the watch to always chime the local time, rather than a base home time, achieved by creating a mechanism that drives the hour wheel from the world time disc for the repeater works to accurately “read” what the dial displays.

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Patek Philippe, Ref.5531R World Time Minute Repeater, Circa 2020 CHF 500,000 - 1,000,000 A possibly unique 18K pink gold minute repeating world time wristwatch with miniature cloisonnĂŠ enamel dial, bracelet, certifcate and box

The innovation did not stop there either, with the house of the Calatrava cross integrating a safety feature that blocks the world time advancing button when the chime is actuated, to ensure that the movement is not damaged. For aural quality, the gongs are mounted onto the case rather than the movement base plate as it would be traditionally, allowing for the chime to be heard more clearly.

Perhaps the most curious advance for the minute repeater concept with the 5531R is the ability for the calibre to chime the correct time at the end of the striking run at the top of the hour. For example, if the repeater slide is actuated at 11:59.50, it will strike the low-pitch hour gong 12 times, ensuring the user hears the most accurate time.

On top of the technical sophistication of the movement, the case also features of number of beautiful details, such as clous de Paris engraving on the band, even extending to the repeater slide, and open-worked lugs that given the impression of an open and airy structure, while also allowing the fne engraving to be admired from all angles. With its Goldilocks proportions at 40.2 mm diameter and 11.49 mm in thickness, complemented by the option to ft either a solid or exhibition back, both included with the watch.

During the New York Grand Exhibition, the 5531R was offered as two editions of fve watches, one showing the Manhattan skyline by day, and the other at night, realised in incredibly beautiful grand feu enamel tones by the celebrated artist Anita Porchet; it was an inevitability that each individual fortunate enough to be selected to receive one of the 10 total pieces had to be personally approved

by Mr. Thierry Stern.

Many would be left disappointed by such a short production run, but it was not a feeling that would last long, as at Baselworld in 2018 the reference 5531R would enter the standard production catalogue, although would continue to be highly limited due to the challenges of producing the complication, in addition to the rigorous qualifcation process for those clients who were close enough to the brand to be deemed worthy.

There were a few tangible changes to the design, most notably a revised scene to the centre of the dial featuring a view of the Lavaux vineyards on the shores of Lake Geneva (a UNESCO world heritage site) with a traditional barque sailing by, still realised in fne grand feu cloisonnÊ enamel featuring 22 colours and approximately 13cm of fne gold wire. The other small update was to substitute the name of Paris that traditionally appears on the world time ring with that of Geneva to refect the scene depicted, and this important reference’s origin.

It is fascinating to note that even during the short production life so far, there have been a number of special executions, including a select few watches known to have been originally ftted with rose gold bracelets, and an edition of fve pieces for the 2019 Grand Exhibition in Singapore featuring a map of the city state and its name, substituting that of Beijing to mark the occasion. All of this goes to show how perfect an encapsulation the reference 5531R is for showing what makes Patek Philippe special: technical achievement, elegant design language, respect for the company’s heritage, and an understanding of how important their most ardent collectors are.

INTELLIGENCE|HAPPY ANNIVERSARY PART 2

The modern era has seen no shortage of anniversaries celebrated, so it feels ftting that we end with one that embodies so much of what has defned the past two decades, and in many ways brings us full circle; heritage infuences, sports watches, a celebrated designer, celebrity wearers who become brand ambassadors, the Patek Philippe Nautilus encapsulates so much that has defned the current horological era in an easy to comprehend, if rather diffcult to obtain, package.

2006 for the 30th anniversary, and had become an instant success with a younger demographic. In a way, they are the two references that have come to defne the Nautilus: the compact original and the more oversized case format to house complications, with most of the other references acting as subdivisions from these origins.

Hotly anticipated by the collectors’ community, the 40th anniversary of the model in 2016 was known to see the arrival of at least one limited edition, and at Baselworld two new references arrived: the 5711/1P and the 5976/1G. Presented in platinum and white gold respectively with dials adorned with diamond hour markers and the inscription “1976 40 - 2016”, they certainly left a sizeable impression on the marketplace, with runs of 700 pieces for the 5711P and 1,300 for the 5976G, replete with cork boxes as an homage to the original packaging 40 years before, quickly allocated.

It is the story and the models that have led up to this date that make the Nautilus such a fascinating topic for research and understanding.

Debuted as one of the most expensive watches in the marketplace, even more amazing when you consider it was made of steel and not gold, the price was driven by the time intensive fnishing required to make the case brushed and polished in the right areas, for Gérald Genta’s iconic design to work.

The complex construction, with a front loading movement covered by a bezel that sits on a custom made gasket and secured with screws that are perpendicular to its main plane, everywhere you look on a reference 3700 there are details which are carefully considered but diffcult to execute.

The watches were interesting for their choice of foundations, the classic time and date reference 5711 that is a direct homage to the original reference 3700 from 1976, and the reference 5980 chronograph date that had been introduced in

It was not always an easy sell to clients who had come to expect classical refnement from Patek Philippe, not sporty modernity, but a few markets proved exceptions, like the fashionable Italians.

Sales fgures improved as small sizes arrived

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Patek Philippe, Ref.3711G Nautilus, Circa 2005 CHF 90,000 - 180,000 A 18K white gold wristwatch with date, certifcate and box

such as the reference 3800, which debuted in 1981 featuring a case diameter of 37.5 mm, down from the 42 mm of the so-called “jumbo” 3700. The fact that the 3800 would have a production run spanning nearly 25 years, while the 3700 was discontinued after approximately 14 is a fairly clear indicator as to which watch was more commercially successful.

History has formed a different narrative though, as is often the case, with the Jumbo now the most coveted reference by far, even with a variety of intervening models before the arrival of the faithful reissues of the 3700 in the shape of the 5711.

Models such as the so-called “Comet” reference 3710, with its unusual power reserve indicator, and now highly desirable 3712 that provided the beginnings of the modern hot commodity reference 5712, equipped with a moon-phase and power reserve indication in addition to the date.

The frst return of the Jumbo would arrive in 2004, but not quite in the format the market would expect. The reference 3711 had two core details that immediately differentiated it from the reference 3700, that of the white gold case and the black dial. Other changes were more subtle, including a transition to a three part case with screw-down exhibition back and a more modern movement with the calibre 315 SC. The case dimensions stayed true with the 42mm diameter, but the new construction meant thickness increased to 9.4mm, lending a very different presence on the wrist, in addition to the greater mass lent by the use of a precious metal.

The high price tag relating to the white gold construction meant that only a small number would be sold before the 3711 was discontinued in 2006, but it was not a major concern for most enthusiasts as the 30th anniversary of the Nautilus would see the arrival of one of the most sought after references of the modern era: the 5711. Initially offered in stainless steel, with rose gold joining the fray in 2015 for those mounted on bracelets, and a version in yellow gold making a brief appearance fitted with a strap, it would be the version in platinum with an electric blue dial that would become the white whale for the most determined Nautilus collectors.

Never officially appearing in the production catalogue and only offered to the most important clients of Patek Philippe, it would seem that the first examples were delivered in 2013 with only a very small run being completed, perhaps less than 100, before the model would be effectively discontinued when the anniversary 5711P arrived in 2016.

The collective captivation with sports watches has had an outsized impact on the industry since 2000, benefiting brands across the spectrum, but it is the Patek Philippe Nautilus that is perhaps the most complete summary of how important the segment is, providing the introduction to the world of fine watchmaking for so many.

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Patek Philippe, Ref.5711P Nautilus, Circa 2014 CHF 200,000 - 400,000 A platinum wristwatch with date and certifcate, single sealed

Our Team Watches Senior Executives

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Edward Dolman

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+44 207 901 7923 hjofre@phillips.com

+1 212 940 1385 alehman@phillips.com

+1 212 940 1280 dnorman@phillips.com

+852 2318 2023 jcrockett@phillips.com

Deputy Chairmen & Chairwomen

Svetlana Marich

Jean-Paul Engelen

Robert Manley

Peter Sumner

Miety Heiden

Worldwide Deputy Chairman

Deputy Chairman, Worldwide Co-Head of 20th Century & Contemporary Art

Deputy Chairman, Worldwide Co-Head of 20th Century & Contemporary Art

Deputy Chairwoman, Head of Private Sales

+1 212 940 1390 jpengelen@phillips.com

+1 212 940 1358 rmanley@phillips.com

Deputy Chairman, Europe, Senior International Specialist, 20th Century & Contemporary Art

Vanessa Hallett

Vivian Pfeifer

Marianne Hoet

Elizabeth Goldberg

Deputy Chairwoman, Americas, Worldwide Head of Photographs

Deputy Chairman, Americas, Head of Business Development, Americas

Deputy Chairwoman, Europe, Senior Specialist, 20th Century & Contemporary Art

Deputy Chairwoman, Americas, Senior International Specialist, American Art

+1 212 940 1243 vhallett@phillips.com

+1 212 940 1392 vpfeifer@phillips.com

+32 3257 3026 mhoet@phillips.com

+1 212 940 1239 egoldberg@phillips.com

+44 20 7318 4010 smarich@phillips.com

+44 20 7318 4063 psumner@phillips.com

+44 20 7901 7943 mheiden@phillips.com

Bacs & Russo

Aurel Bacs

Livia Russo

Clara Kessi

Senior Consultant

Senior Consultant

Client Relations Manager

+41 22 317 81 88 abacs@phillipsbacsrusso.com

+41 22 317 81 88 lrusso@phillipsbacsrusso.com

+41 22 317 81 88 ckessi@phillipsbacsrusso.com

International Business Directors

Myriam Christinaz

Bart van Son

Pansy Ku

Co-International Business Director

Co-International Business Director

International Business Development Director

+41 22 317 81 84 mchristinaz@phillips.com

+44 20 7901 7912 bvanson@phillips.com

+33 1 53 71 77 89 pku@phillips.com

Geneva

Alexandre Ghotbi

Virginie Liatard-Roessli

Arthur Touchot

Tifany To

Marcello de Marco

Head of Watches, Continental Europe and Middle East

Specialist

Specialist, Head of Digital Strategy

Specialist

Specialist, Business Development Associate

+41 22 317 81 89 aghotbi@phillips.com

+41 22 317 81 82 vliatard@phillips.com

+41 22 317 96 62 atouchot@phillips.com

Edoardo Bolla

Nathalie Monbaron

Diana Ortega

Cataloguer

Regional Director, Business Development Director

Business Development Manager

+41 22 317 81 83 nmonbaron@phillips.com

+41 22 317 81 87 dortega@phillips.com

+41 79 552 73 68 ebolla@phillips.com

+41 22 317 96 63 tto@phillips.com

+41 22 317 81 81 mdemarco@phillips.com

Hong Kong

Thomas Perazzi

Jill Chen

Zi Yong Ho

Shoyo Kawamura

Head of Watches, Asia

Head of Watches, Hong Kong

Head of Sale, Specialist

Associate Specialist

+852 2318 2030 thomasperazzi@phillips.com

+852 2318 2033 jillchen@phillips.com

+852 2318 2032 ziyongho@phillips.com

+852 2318 2035 shoyokawamura@phillips.com

London

Gertrude Wong

Kevin Cureau

James Marks

Christopher YouĂŠ

Cataloguer/Designer

Digital Consultant

International Specialist

Specialist

+852 2318 2045 gertrudewong@phillips.com

kevincureau@phillips.com

+44 20 7901 7916 jmarks@phillips.com

+44 7778 143 563 cyoue@phillips.com

New York

Paul Boutros

Doug Escribano

Geof Hess

Isabella Proia

Daniella Rosa

Head of Watches, Americas International Strategy Advisor

Senior International Specialist

International Specialist and Head of Perpetual, Americas

Specialist

Business Development Manager

+1 212 940 1293 pboutros@phillips.com

+1 212 940 1382 describano@phillips.com

+1 917 297 6328 ghess@phillips.com

Tokyo

+1 212 940 1285 iproia@phillips.com

+1 212 940 1395 drosa@phillips.com

Taiwan

Genki Sakamoto

Kaz Fujimoto

Cindy Yen

Zach Lu

Senior Specialist Consultant

Senior Consultant

General Manager, Taiwan

Consultant

+81 3 6273 4818 gsakamoto@phillips.com

+81 3 6273 4818 kfujimoto@phillips.com

+886 963 135 449 cyen@phillips.com

+852 2318 2034 zacharylu@phillips.com

Guide for Prospective Buyers Buying at Auction The following pages are designed to ofer you information on how to buy at auction at Phillips. Our staf will be happy to assist you.

Conditions of Sale The Conditions of Sale and Authorship Warranty which appear later in this catalogue govern the auction. Bidders are strongly encouraged to read them as they outline the legal relationship among Phillips, the seller and the buyer and describe the terms upon which property is bought at auction. Please be advised that Phillips generally acts as agent for the seller. Bidders should also read the Important Notices immediately following this Guide for Prospective Buyers.

Buyer’s Premium and VAT Phillips charges the successful bidder a commission, or buyer’s premium, on the hammer price of each lot sold. The buyer’s premium is payable by the buyer as part of the total purchase price at the following rates: 25% of the hammer price up to and including CHF400,000, 20% of the portion of the hammer price above CHF400,000 up to and including CHF4,000,000 and 13.5% of the portion of the hammer price above CHF4,000,000.

Value added tax (VAT) of 7.7% is payable on the hammer price and the buyer’s premium. This tax is refunded to any buyer domiciled outside Switzerland if, but only if, Phillips receives from such buyer an export declaration in respect of a purchased lot which has been stamped by Swiss customs.

The purchase price payable for any lot is the sum of the hammer price plus the buyer’s premium plus VAT. 1 Prior to Auction Catalogue Subscriptions If you would like to purchase a catalogue for this auction or any other Phillips sale, please contact us at +41 22 317 8181, +44 20 7318 4010 or +1 212 940 1240.

Pre-Sale Estimates Pre-sale estimates are intended as a guide for prospective buyers. Any bid within the high and low estimate range should, in our opinion, ofer a chance of success.

However, many lots achieve prices below or above the pre-sale estimates. Where ‘Estimate on Request’ appears, please contact the specialist department for further information. It is advisable to contact us closer to the time of the auction as estimates can be subject to revision. Pre-sale estimates do not include the buyer’s premium or VAT. Pre-Sale Estimates in US Dollars and Euros Although the sale is conducted in Swiss francs, the pre-sale estimates in the auction catalogues may also be printed in US dollars and/or euros. Since the exchange rate is that at the time of catalogue production and not at the date of auction, you should treat estimates in US dollars or euros as a guide only.

Catalogue Entries Phillips may print in the catalogue entry the history of ownership of a work of art, as well as the exhibition history of the property and references to the work in art publications. While we are careful in the cataloguing process, provenance, exhibition and literature references may not be exhaustive and in some cases we may intentionally refrain from disclosing the identity of previous owners. Please note that all dimensions of the property set forth in the catalogue entry are approximate.

Condition of Lots Our catalogues include references to condition only in the descriptions of multiple works (e.g., prints). Such references, though, do not amount to a full description of condition. The absence of reference to the condition of a lot in the catalogue entry entry (including those accessed via QR Codes appearing in the catalogue) does not imply that the lot is free from faults or imperfections. Solely as a convenience to clients, Phillips may provide condition reports. In preparing such reports, our specialists assess the condition in a manner appropriate to the estimated value of the property. While condition reports are prepared honestly and carefully, our staf are not professional restorers. We therefore encourage all prospective buyers to inspect the property at the pre-sale exhibitions and recommend, particularly in the case of any lot of signifcant value, that you retain your own restorer or professional advisor to report to you on the property’s condition prior to bidding. Moreover, condition

reports are not exhaustive and may not specify all mechanical replacements or imperfections to the movement, case, dial, pendulum, separate bases(s) or dome.

The absence of a condition report or the absence of a reference to damage in the catalogue does not imply that the lot is in good condition, working order or free from restoration or repair.

Pre-Auction Viewing Pre-auction viewings are open to the public and free of charge. Our specialists are available to give advice and condition reports at viewings or by appointment.

Symbol Key The following key explains the symbols you may see inside this catalogue.

O Guaranteed Property Lots designated with the symbol ○ are the subject of a minimum price guarantee.

In such cases Phillips has guaranteed to the seller of the lot that regardless of the outcome of the sale the seller shall receive no less than a minimum sum. This guarantee may be provided solely by Phillips or jointly with a third party. ♦ Third Party Guarantee Where Phillips has agreed to a minimum price guarantee it assumes the fnancial risk of a lot failing to sell or selling for less than the minimum price guarantee.

Because the sums involved can be signifcant Phillips may choose to share the burden of that fnancial risk with a third party. The third party shares the risk by committing in advance of the sale, usually by way of a written bid, to buy the lot for an agreed amount whether or not there are competing bidders for the lot. If there are competing bidders third party guarantors may also bid above any written bid. In this way the third-party guarantor assumes the risk of the bidding not reaching the amount of the minimum price guarantee.

In return for underwriting or sharing this risk Phillips will usually compensate the third party. The compensation may be in the form of a fxed fee or an amount calculated by reference to the hammer price of the lot. If the third-party guarantor is the successful bidder Phillips will report the purchase price net of any fees paid to the third-party guarantor. Δ Property in which Phillips has an Ownership Interest Lots with this symbol indicate that Phillips owns the lot in whole or in part or has an economic interest in the lot equivalent to an ownership interest.

• No Reserve Unless indicated by a •, all lots in this catalogue are ofered subject to a reserve. A reserve is the confdential value established between Phillips and the seller and below which a lot may not be sold. The reserve for each lot is generally set at a percentage of the low estimate and will not exceed the low pre-sale estimate. ∑ Endangered Species Lots with this symbol have been identifed at the time of cataloguing as containing endangered or other protected species of wildlife which may be subject to restrictions regarding export or import and which may require permits for export as well as import. Please refer to Paragraph 4 of the Guide for Prospective Buyers and Paragraph 11 of the Conditions of Sale. Ж Property Subject to US Import Tarifs Lots with this symbol indicate that the Property may be subject to additional tariffs upon importation into the United States of America. See paragraph 12 of the Conditions of Sale.

2 Bidding in the Sale Bidding at Auction Bids may be executed during the auction in person by paddle, by telephone, online or prior to the sale in writing by absentee bid. Proof of identity in the form of government-issued identifcation will be required, as will an original signature and proof of address. We may also require that you furnish us with a bank reference.

Undisclosed agreements between bidders to bid or abstain from bidding on lots are illegal. Please note that Phillips monitors its sales and bidding records to ensure that bidding is transparent and fair and will take appropriate action in the event of any suspected breach of this requirement.

Bidding in Person To bid in person, you will need to register for and collect a paddle before the auction begins. New clients are encouraged to register at least 48 hours in advance of a sale to allow sufcient time for us to process your information. All lots sold will be invoiced to the name and address to which the paddle has been registered and invoices cannot be transferred to other names and addresses. Please do not misplace your paddle. In the event you lose it, inform a Phillips staf member immediately. At the end of the auction, please return your paddle to the registration desk.

Bidding by Telephone If you cannot attend the auction, you may bid live on the telephone with one of our multilingual staf members. This service must be arranged at least 24 hours in advance of the sale and is available for lots whose low pre-sale estimate is at least CHF1,000. Telephone bids may be recorded. By bidding on the telephone, you consent to the recording of your conversation. We suggest that you leave a maximum bid, excluding the buyer’s premium and VAT, which we can execute on your behalf in the event we are unable to reach you by telephone.

3 The Auction Conditions of Sale As noted above, the auction is governed by the Conditions of Sale and Authorship Warranty. All prospective bidders should read them carefully. They may be amended by saleroom addendum or Auctioneer’s announcement.

Interested Parties Announcement In situations where a person allowed to bid on a lot has a direct or indirect interest in such lot, such as the benefciary or executor of an estate selling the lot, a joint owner of the lot or a party providing or participating in a guarantee on the lot, Phillips will make an announcement in the saleroom that interested parties may bid on the lot.

Consecutive and Responsive Bidding The Auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The Auctioneer may further bid on behalf of the seller up to the amount of the reserve by placing consecutive bids or bids in response to other bidders.

Online Bidding If you cannot attend the auction in person, you may bid online on our online live bidding platform available on our website at www.phillips.com. The digital saleroom is optimized to run on Google Chrome, Firefox, Opera and Internet Explorer browsers.

Clients who wish to run the platform on Safari will need to install Adobe Flash Player.

Follow the links to ‘Auctions’ and ‘Digital Saleroom’ and then pre-register by clicking on ‘Register to Bid Live.’ The frst time you register you will be required to create an account; thereafer you will only need to register for each sale. You must pre-register at least 24 hours before the start of the auction in order to be approved by our bid department. Please note that corporate frewalls may cause difculties for online bidders.

No Reserve Lots If a lot is ofered without reserve, unless there are already competing absentee bids, the Auctioneer will generally open the bidding at 50% of the lot’s low pre-sale estimate. In the absence of a bid at that level, the Auctioneer will proceed backwards at his or her discretion until a bid is recognized and will then advance the bidding from that amount. Absentee bids on no reserve lots will, in the absence of a higher bid, be executed at approximately 50% of the low pre-sale estimate or at the amount of the bid if it is less than 50% of the low pre-sale estimate. If there is no bid whatsoever on a no reserve lot, the Auctioneer may deem such lot unsold.

Absentee Bids If you are unable to attend the auction and cannot participate by telephone, Phillips will be happy to execute written bids on your behalf. A bidding form can be found at the back of this catalogue. This service is free and confdential. Bids must be placed in the currency of the sale. Our staf will attempt to execute an absentee bid at the lowest possible price taking into account the reserve and other bidders. Always indicate a maximum bid, excluding the buyer’s premium and VAT. Unlimited bids will not be accepted. Any absentee bid must be received at least 24 hours in advance of the sale. In the event of identical bids, the earliest bid received will take precedence.

Payment Buyers are required to pay for purchases immediately following the auction unless other arrangements have been agreed with Phillips in writing in advance of the sale.

Payment must be made in Swiss francs by wire transfer, as noted in Paragraph 6 of the Conditions of Sale. Neither cash nor cheques will be accepted.

Employee Bidding Employees of Phillips and our afliated companies, including the huissier or the auctioneer (the ‘Auctioneer’), may bid at the auction by placing absentee bids so long as they do not know the reserve when submitting their absentee bids and otherwise comply with our employee bidding procedures.

Bidding Increments Bidding generally opens below the low estimate and advances in increments of up to 10%, subject to the Auctioneer’s discretion. Absentee bids that do not conform to the increments set below may be lowered to the next bidding increment.

CHF50 to CHF1,000 CHF1,000 to CHF2,000 CHF2,000 to CHF3,000 CHF3,000 to CHF5,000 CHF5,000 to CHF10,000 CHF10,000 to CHF20,000 CHF20,000 to CHF30,000 CHF30,000 to CHF50,000 CHF50,000 to CHF100,000 CHF100,000 to CHF200,000 above CHF200,000

by CHF50s

by CHF100s

by CHF200s

by CHF200s, 500, 800 (i.e., CHF4,200, 4,500, 4,800)

by CHF500s

by CHF1,000s

by CHF2,000s

by CHF2,000s, 5,000, 8,000

by CHF5,000s

by CHF10,000s at the Auctioneer’s discretion

The Auctioneer may vary the increments during the course of the auction at his or her own discretion.

4 After the Auction

Credit Cards As a courtesy to clients, Phillips will accept American Express, Visa, MasterCard, and CUP (in person transactions only for CUP) to pay for invoices of CHF100,000 or less. A processing fee will apply.

Collection It is our policy to request proof of identity on collection of a lot. A lot will be released to the buyer or the buyer’s authorized representative when Phillips has received full and cleared payment and we are not owed any other amount by the buyer. Afer the auction, all lots will be kept at our premises.

Loss or Damage Buyers are reminded that Phillips accepts liability for loss or damage to lots for a maximum of seven days following the auction.

Transport and Shipping As a free service for buyers, Phillips will wrap purchased lots for hand carry only.

We do not provide packing, handling or shipping services directly. However, we will coordinate with shipping agents instructed by you in order to facilitate the packing, handling and shipping of property purchased at Phillips. Please refer to Paragraph 7 of the Conditions of Sale for more information.

Export and Import Licences Before bidding for any property, prospective bidders are advised to make independent enquiries as to whether a licence is required to export the property from Switzerland or to import it into another country. It is the buyer’s sole responsibility to comply with all import and export laws and to obtain any necessary licences or permits. The denial of any required licence or permit or any delay in obtaining such documentation will not justify the cancellation of the sale or any delay in making full payment for the lot.

Important Notices Endangered Species Items made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, Brazilian rosewood, rhinoceros horn or tortoiseshell, irrespective of age, percentage or value, may require a licence or certifcate prior to exportation and additional licences or certifcates upon importation to the US or to any country within or outside the European Union (EU). Please note that the ability to obtain an export licence or certifcate does not ensure the ability to obtain an import licence or certifcate in another country, and vice versa. We suggest that prospective bidders check with their own government regarding wildlife import requirements prior to placing a bid. It is the buyer’s sole responsibility to obtain any necessary export or import licences or certifcates as well as any other required documentation. Please note that the US prohibits the importation of any item containing African elephant ivory. Asian elephant ivory may be imported in to the US only if accompanied by independent scientifc analysis regarding continent of origin and confrmation the object is more than 100 years old. We have not obtained a scientifc analysis on any lot prior to sale and cannot indicate whether elephant ivory in a particular lot is African or Asian elephant. Buyers purchase these lots at their own risk and will be responsible for the costs of obtaining any scientifc analysis or other report required in connection with their proposed import of such property into the US. With regard to any item containing endangered species other than elephant ivory, an importer into the US must provide documented evidence of the species identifcation and age of an object in order to demonstrate that the object qualifes as an antique.

This will require the buyer to obtain an independent appraisal certifying the species of endangered material on the object and certifying that the object is not less than 100 years of age. A prospective buyer planning to import an object into the US may not rely on Phillips cataloguing to establish the species of endangered material on the object or to establish the age of the object and must consult with a qualifed independent appraiser prior to placing a bid on the lot.

Please note that lots containing potentially regulated plant or animal material are marked as a convenience to our clients, but Phillips does not accept liability for errors or for failing to mark lots containing protected or regulated species.

Privacy Our Privacy Policy is available at www.phillips.com or by emailing dataprotection@ phillips.com and sets out: (i) the types of personal data we will or may collect and process; (ii) the purposes for which we will or may process your personal data; (iii) the lawful bases we rely on when processing your personal data; (iv) your rights in respect of our processing of your personal data; and (v) various other information as required by applicable laws.

Phillips premises, sale, and exhibition venues are subject to CCTV video surveillance and recording for security, client service and bid monitoring purposes. Phillips’ auctions will be flmed for simultaneous live broadcast on Phillips’ and third party websites and applications.

Your communications with Phillips, including by phone and online (e.g. phone and on-line bidding) may be recorded for security, client service and bid monitoring purposes. Where we record such information we will process it in accordance with our Privacy Policy.

Condition Phillips makes no representation or warranty that any watch or clock is in working order, and no catalogue description (appearing in the catalogue or accessed via a QR Code) of any lot should be construed as so stating. Prospective buyers are advised to have watches and clocks checked by a competent watchmaker or watch or clock restorer before use. As a service to prospective buyers, we may provide a description of the condition of watches and clocks in the catalogue entry (appearing in the catalogue or accessed via a QR Code) including references to defects and repairs, and furnish a condition report, but such information is not necessarily complete and may not specify all mechanical replacements, restorations or defects. Please note that Phillips does not guarantee the authenticity of any individual components parts, such as wheels, hands, crowns, crystals, screws, bracelets and leather bands, since prior repairs and restoration work may have resulted in the replacement of original parts. Nor does Phillips warrant that watches in water-resistant cases are currently water-resistant. Prospective buyers should inspect all watches and clocks prior to the auction to evaluate the condition of property ofered for sale.

Exportation of Watch Bands Incorporating Material from Regulated Species Some of the watches ofered for sale in the catalogue may have bands made of endangered or protected animal materials, such as alligator or crocodile, and may not lawfully be exported from the auction site without a CITES export permit. As explained in Paragraph 4 of the Guide for Prospective Buyers, these lots are marked with ∑ in the catalogue. Accordingly, for purchased watches that are to be shipped out of the sale site for delivery, Phillips may need to remove and retain the band before shipping the watch and buckle.

Authenticity Certifcates Certain manufacturers do not issue certifcates of authenticity, and Phillips has no obligation to furnish a buyer with a certifcate of authenticity from the manufacturer, except when specifcally noted in the catalogue. Unless Phillips is satisfed that we should cancel the sale in accordance with the Authorship Warranty provided in the Conditions of Sale, the failure of a manufacturer to issue a certifcate will not constitute grounds for cancellation of the sale.

Conditions of Sale The Conditions of Sale and Authorship Warranty set out below govern the relationship between bidders and buyers, on the one hand, and Phillips Fine Watches Limited (Geneva branch) registered in Geneva under number 380214667 (“Phillips”) and sellers, on the other hand. All prospective buyers should read these Conditions of Sale, the Important Notices immediately following the Guide for Prospective Buyers and the Authorship Warranty carefully before bidding.

1 Introduction Each lot in this catalogue is ofered for sale and sold subject to: (a) the Conditions of Sale and Authorship Warranty; (b) additional notices and terms in other places in this catalogue, including the Guide for Prospective Buyers and Important Notices (c) supplements to this catalogue including information accessed via QR Codes appearing in this catalogue, and (d) other written material posted by Phillips in the saleroom, in each case as amended by any addendum or announcement by the auctioneer prior to the auction.

By bidding at the auction, whether in person, through an agent, by written bid, by telephone bid or other means, bidders and buyers agree to be bound by these Conditions of Sale, as so changed or supplemented, and Authorship Warranty.

These Conditions of Sale, as so changed or supplemented, and Authorship Warranty contain all the terms on which Phillips and the seller contract with the buyer.

2 Phillips As Agent Phillips acts as an agent for the seller, unless otherwise indicated in this catalogue or at the time of auction. On occasion, Phillips may own a lot directly, in which case we will act in a principal capacity as a consignor, or a company afliated with Phillips may own a lot, in which case we will act as agent for that company, or Phillips or an afliated company may have a legal, benefcial or fnancial interest in a lot as a secured creditor or otherwise.

3 Catalogue Descriptions and Condition of Property Lots are sold subject to the Authorship Warranty, as described in the catalogue (unless such description is changed or supplemented, as provided in Paragraph 1 above) and in the condition that they are in at the time of the sale on the following basis. (a) The knowledge of Phillips in relation to each lot is partially dependent on information provided to us by the seller, and Phillips is not able to and does not carry out exhaustive due diligence on each lot. Prospective buyers acknowledge this fact and accept responsibility for carrying out inspections and investigations to satisfy themselves as to the lots in which they may be interested. Notwithstanding the foregoing, we shall exercise such reasonable care when making express statements in catalogue descriptions or condition reports (including those accessed via QR Codes appearing in this catalogue) as is consistent with our role as auctioneer of lots in this sale and in light of (i) the information provided to us by the seller, (ii) scholarship and technical knowledge and (iii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made. (b) Each lot ofered for sale at Phillips is available for inspection by prospective buyers prior to the auction. Phillips accepts bids on lots on the basis that bidders (and independent experts on their behalf, to the extent appropriate given the nature and value of the lot and the bidder’s own expertise) have fully inspected the lot prior to bidding and have satisfed themselves as to both the condition of the lot and the accuracy of its description. (c) Prospective buyers acknowledge that many lots are of an age and type which means that they are not in perfect condition. As a courtesy to clients, Phillips may prepare and provide condition reports to assist prospective buyers when they are inspecting lots. Catalogue descriptions and condition reports (including those accessed via QR Codes appearing in this catalogue) may make reference to particular imperfections of a lot, but bidders should note that lots may have other faults not expressly referred to in the catalogue or condition report. All dimensions are approximate. Illustrations are for identifcation purposes only and cannot be used as precise indications of size or to convey full information as to the actual condition of lots.

(d) Information provided to prospective buyers in respect of any lot, including any pre-sale estimate, whether written or oral, and information in any catalogue, condition or other report (including those accessed via QR Codes appearing in this catalogue) commentary or valuation, is not a representation of fact but rather a statement of opinion held by Phillips. Any pre-sale estimate may not be relied on as a prediction of the selling price or value of the lot and may be revised from time to time by Phillips at our absolute discretion. Neither Phillips nor any of our afliated companies shall be liable for any diference between the pre-sale estimates for any lot and the actual price achieved at auction or upon resale.

4 Bidding at Auction (a) Phillips has absolute discretion to refuse admission to the auction or participation in the sale. All bidders must register for a paddle prior to bidding, supplying such information and references as required by Phillips. (b) As a convenience to bidders who cannot attend the auction in person, Phillips may, if so instructed by the bidder, execute written absentee bids on a bidder’s behalf.

Absentee bidders are required to submit bids on the ‘Absentee Bid Form’, a copy of which is printed in this catalogue or otherwise available from Phillips. Bids must be placed in the currency of the sale. The bidder must clearly indicate the maximum amount he or she intends to bid, excluding the buyer’s premium and value added tax (VAT). The huissier or auctioneer (the ‘Auctioneer’) will not accept an instruction to execute an absentee bid which does not indicate such maximum bid. Our staf will attempt to execute an absentee bid at the lowest possible price taking into account the reserve and other bidders. Any absentee bid must be received at least 24 hours in advance of the sale. In the event of identical bids, the earliest bid received will take precedence. (c) Telephone bidders are required to submit bids on the ‘Telephone Bid Form’, a copy of which is printed in this catalogue or otherwise available from Phillips. Telephone bidding is available for lots whose low pre-sale estimate is at least CHF1000. Phillips reserves the right to require written confrmation of a successful bid from a telephone bidder by fax or otherwise immediately afer such bid is accepted by the Auctioneer.

Telephone bids may be recorded and, by bidding on the telephone, a bidder consents to the recording of the conversation.

(d) Bidders may participate in an auction by bidding online through Phillips’s online live bidding platform available on our website at www.phillips.com. To bid online, bidders must register online at least 24 hours before the start of the auction. Online bidding is subject to approval by Phillips’s bid department in our sole discretion. As noted in Paragraph 3 above, Phillips encourages online bidders to inspect prior to the auction any lot(s) on which they may bid, and condition reports are available upon request. Bidding in a live auction can progress quickly. To ensure that online bidders are not placed at a disadvantage when bidding against bidders in the room or on the telephone, the procedure for placing bids through Phillips’s online bidding platform is a one-step process. By clicking the bid button on the computer screen, a bidder submits a bid. Online bidders acknowledge and agree that bids so submitted are fnal and may not under any circumstances be amended or retracted. During a live auction, when bids other than online bids are placed, they will be displayed on the online bidder’s computer screen as ‘foor’ bids. ‘Floor’ bids include bids made by the auctioneer to protect the reserve. In the event that an online bid and a ‘foor’ or ‘phone’ bid are identical, the ‘foor’ bid may take precedence at the Auctioneer’s discretion. The next bidding increment is shown for the convenience of online bidders in the bid button.

The bidding increment available to online bidders may vary from the next bid actually taken by the Auctioneer, as the Auctioneer may deviate from Phillips’s standard increments at any time at his or her discretion, but an online bidder may only place a bid in a whole bidding increment. Phillips’s bidding increments are published in the Guide for Prospective Buyers. (e) When making a bid, whether in person, by absentee bid, on the telephone or online, a bidder accepts personal liability to pay the purchase price, as described more fully in Paragraph 6 (a) below, plus all other applicable charges.

(f) By participating in the auction, whether in person, by absentee bid, on the telephone or online, each prospective buyer represents and warrants that any bids placed by such person, or on such person’s behalf, are not the product of any collusive or other anti-competitive agreement and are otherwise consistent with federal and state antitrust law.

(g) Arranging absentee, telephone and online bids is a free service provided by Phillips to prospective buyers. While we undertake to exercise reasonable care in undertaking such activity, we cannot accept liability for failure to execute such bids except where such failure is caused by our willful misconduct. (h) Employees of Phillips and our afliated companies, including the Auctioneer, may bid at the auction by placing absentee bids so long as they do not know the reserve when submitting their absentee bids and otherwise comply with our employee bidding procedures.

5 Conduct of the Auction (a) Unless otherwise indicated by the symbol •, each lot is ofered subject to a reserve, which is the confdential minimum selling price agreed by Phillips with the seller. The reserve will not exceed the low pre-sale estimate at the time of the auction. (b) The Auctioneer has discretion at any time to refuse any bid, withdraw any lot, re-ofer a lot for sale (including afer the fall of the hammer) if he or she believes there may be error or dispute and take such other action as he or she deems reasonably appropriate. Phillips shall have no liability whatsoever for any such action taken by the Auctioneer. If any dispute arises afer the sale, our sale record is conclusive. The Auctioneer may accept bids made by a company afliated with Phillips provided that the bidder does not know the reserve placed on the lot. (c) The Auctioneer will commence and advance the bidding at levels and in increments he or she considers appropriate. In order to protect the reserve on any lot, the Auctioneer may place one or more bids on behalf of the seller up to the reserve without indicating he or she is doing so, either by placing consecutive bids or bids in response to other bidders. If a lot is ofered without reserve, unless there are already competing absentee bids, the Auctioneer will generally open the bidding at 50% of the lot’s low pre-sale estimate. In the absence of a bid at that level, the Auctioneer will proceed backwards at his or her discretion until a bid is recognized and will then advance the bidding from that amount. Absentee bids on no reserve lots will, in the absence of a higher bid, be executed at approximately 50% of the low pre-sale estimate or at the amount of the bid if it is less than 50% of the low pre-sale estimate.

If there is no bid whatsoever on a no reserve lot, the Auctioneer may deem such lot unsold. (d) The sale will be conducted in Swiss francs and payment is due in Swiss francs. For the beneft of international clients, pre-sale estimates in the auction catalogue may be shown in US dollars and/or euros and, if so, will refect approximate exchange rates. Accordingly, estimates in US dollars or euros should be treated only as a guide.

If a currency converter is operated during the sale, it is done so as a courtesy to bidders, but Phillips accepts no responsibility for any errors in currency conversion calculation. (e) Subject to the Auctioneer’s reasonable discretion, the highest bidder accepted by the Auctioneer will be the buyer and the striking of the hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the seller and the buyer. Risk and responsibility for the lot passes to the buyer as set forth in Paragraph 7 below. (f) If a lot is not sold, the Auctioneer will announce that it has been ‘passed’, ‘withdrawn’, ‘returned to owner’ or ‘bought-in’. (g) Any post-auction sale of lots ofered at auction shall incorporate these Conditions of Sale and Authorship Warranty as if sold in the auction.

6 Purchase Price and Payment (a) The buyer agrees to pay us, in addition to the hammer price of the lot, the buyer’s premium, plus any applicable value added tax (VAT) (the ‘Purchase Price’). The buyer’s premium is 25% of the hammer price up to and including CHF400,000, 20% of the portion of the hammer price above CHF400,000 up to and including CHF4,000,000 and 13.5% of the portion of the hammer price above CHF4,000,000.

Phillips reserves the right to pay from our compensation an introductory commission to one or more third parties for assisting in the sale of property ofered and sold at auction.

(b) VAT of 7.7% is payable on the hammer price plus buyer’s premium. This tax is refunded to any buyer domiciled outside Switzerland if, but only if, Phillips receives from such buyer an export declaration in respect of a purchased lot which has been stamped by Swiss customs. All prices, fees, charges and expenses set out in these Conditions of Sale are quoted exclusive of VAT. (c) Unless otherwise agreed, a buyer is required to pay for a purchased lot immediately following the auction regardless of any intention to obtain an export or import license or other permit for such lot. Payments must be made by the invoiced party in Swiss francs by wire transfer in accordance with the bank transfer details provided on the invoice for purchased lots. (d) As a courtesy to clients, Phillips will accept American Express, Visa, MasterCard, and CUP (in person transactions only for CUP) to pay for invoices of CHF100,000 or less. A processing fee will apply. (e) Title in a purchased lot will not pass until Phillips has received the Purchase Price for that lot in cleared funds. Phillips is not obliged to release a lot to the buyer until title in the lot has passed and appropriate identifcation has been provided, and any earlier release does not afect the passing of title or the buyer’s unconditional obligation to pay the Purchase Price.

7 Collection of Property a) Phillips will not release a lot to the buyer until we have received payment of its Purchase Price in full in cleared funds, the buyer has paid all outstanding amounts due to Phillips or any of our afliated companies, including any charges payable pursuant to Paragraph 8 (a) below, and the buyer has satisfed such other terms as we in our sole discretion shall require, including providing information and documentation we require to satisfy our customer due diligence and verifcation checks for Know Your Customer compliance purposes and completing any antimoney laundering, anti-terrorism fnancing and sanctions checks. As soon as a buyer has satisfed all of the above conditions, he or she should contact us at +41 22 317 8181 to arrange for collection of purchased property. (b) The buyer must arrange for collection of a purchased lot within seven days of the date of the auction. Afer the auction, all lots will be kept at our premises. Purchased lots are at the buyer’s risk, including the responsibility for insurance, from (i) the date of collection or (ii) seven days afer the auction, whichever is the earlier. Until risk passes, Phillips will compensate the buyer for any loss or damage to a purchased lot up to a maximum of the Purchase Price paid, subject to our usual exclusions for loss or damage to property.

(c) As a courtesy to clients, Phillips will, without charge, wrap purchased lots for hand carry only. We do not provide packing, handling, insurance or shipping services. We will coordinate with shipping agents instructed by the buyer, whether or not recommended by Phillips, in order to facilitate the packing, handling, insurance and shipping of property bought at Phillips. Any such instruction is entirely at the buyer’s risk and responsibility, and we will not be liable for acts or omissions of third party packers or shippers. Property will be collected by the buyer at the point it is released in the sale location by Phillips to the buyer or to a third- party shipper acting for the buyer. The buyer is responsible for paying any import duties and local taxes payable to import the Property to its fnal destination. (d) Phillips will require presentation of government-issued identifcation prior to release of a lot to the buyer or the buyer’s authorized representative.

8 Failure to Collect Purchases (a) If the buyer pays the Purchase Price but fails to collect a purchased lot within 30 days of the auction, the buyer will incur a late collection fee of CHF10 per day for each uncollected lot. We will not release purchased lots to the buyer until all such charges have been paid in full. (b) If a purchased lot is paid for but not collected within six months of the auction, the buyer authorizes Phillips, upon notice, to arrange a resale of the item by auction or private sale, with estimates and a reserve set at Phillips’s reasonable discretion.

The proceeds of such sale will be applied to pay for storage charges and any other outstanding costs and expenses owed by the buyer to Phillips or our afliated companies and the remainder will be forfeited unless collected by the buyer within two years of the original auction.

9 Remedies for Non-Payment (a) Without prejudice to any rights the seller may have, if the buyer without prior agreement fails to make payment of the Purchase Price for a lot in cleared funds within seven days of the auction, Phillips may in our sole discretion exercise one or more of the following remedies: (i) store the lot at Phillips‘s premises or elsewhere at the buyer’s sole risk and expense; (ii) cancel the sale of the lot, retaining any partial payment of the Purchase Price as liquidated damages; (iii) reject future bids from the buyer or render such bids subject to payment of a deposit; (iv) charge interest at 12% per annum from the date payment became due until the date the Purchase Price is received in cleared funds; (v) subject to notifcation of the buyer, exercise a lien over any of the buyer’s property which is in the possession of Phillips and instruct our afliated companies to exercise a lien over any of the buyer’s property which is in their possession and, in each case, no earlier than 30 days from the date of such notice arrange the sale of such property and apply the proceeds to the amount owed to Phillips or any of our afliated companies afer the deduction from sale proceeds of our standard vendor’s commission, all sale-related expenses and any applicable taxes thereon; (vi) resell the lot by auction or private sale, with estimates and a reserve set at Phillips’s reasonable discretion, it being understood that in the event such resale is for less than the original hammer price and buyer’s premium for that lot, the buyer will remain liable for the shortfall together with all costs incurred in such resale; (vii) commence legal proceedings to recover the hammer price and buyer’s premium for that lot, together with interest and the costs of such proceedings; (viii) set of the outstanding amount remaining unpaid by the buyer against any amounts which we or any of our afliated companies may owe the buyer in any other transactions; (ix) release the name and address of the buyer to the seller to enable the seller to commence legal proceedings to recover the amounts due and legal costs; or (x) take such other action as we deem necessary or appropriate. (b) The buyer irrevocably authorizes Phillips to exercise a lien over the buyer’s property which is in our possession upon notifcation by any of our afliated companies that the buyer is in default of payment. Phillips will notify the buyer of any such lien. The buyer also irrevocably authorizes Phillips, upon notifcation by any of our afliated companies that the buyer is in default of payment, to pledge the buyer’s property in our possession by actual or constructive delivery to our afliated company as security for the payment of any outstanding amount due. Phillips will notify the buyer if the buyer’s property has been delivered to an afliated company by way of pledge. (c) If the buyer is in default of payment, the buyer irrevocably authorizes Phillips to instruct any of our afliated companies in possession of the buyer’s property to deliver the property by way of pledge as the buyer’s agent to a third party instructed by Phillips to hold the property on our behalf as security for the payment of the Purchase Price and any other amount due and, no earlier than 30 days from the date of written notice to the buyer, to sell the property in such manner and for such consideration as can reasonably be obtained on a forced sale basis and to apply the proceeds to any amount owed to Phillips or any of our afliated companies afer the deduction from sale proceeds of our standard vendor’s commission, all sale-related expenses and any applicable taxes thereon.

10 Rescission by Phillips Phillips shall have the right, but not the obligation, to rescind a sale without notice to the buyer if we reasonably believe that there is a material breach of the seller’s representations and warranties or the Authorship Warranty or an adverse claim is made by a third party. Upon notice of Phillips election to rescind the sale, the buyer will promptly return the lot to Phillips, and we will then refund the Purchase Price paid to us. As described more fully in Paragraph 13 below, the refund shall constitute the sole remedy and recourse of the buyer against Phillips and the seller with respect to such rescinded sale.

11 Export, Import and Endangered Species Licences and Permits Before bidding for any property, prospective buyers are advised to make their own enquiries as to whether a licence is required to export a lot from Switzerland or to import it into another country. Prospective buyers are advised that some countries prohibit the import of property made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, Brazilian rosewood, rhinoceros horn or tortoiseshell, irrespective of age, percentage or value. Accordingly, prior to bidding, prospective buyers considering export of purchased lots should familiarize themselves with relevant export and import regulations of the countries concerned. Please note that the US prohibits the importation of any item containing African elephant

ivory. Asian elephant ivory may be imported in to the US only if accompanied by independent scientifc analysis of continent of origin and confrmation the object is more than 100 years old.

With regard to any item containing endangered species other than elephant ivory, an importer into the US must provide documented evidence of the species identifcation and age of an object in order to demonstrate that the item qualifes as an antique.

This will require the buyer to obtain an independent appraisal certify the species of endangered material on the object and certifying that the object is not less than 100 years of age. A prospective buyer planning to import an object containing endangered species into the US may not rely on Phillips cataloguing to establish the species of endangered material on the object or to establish the age of the object and must consult with a qualifed independent appraiser prior to placing a bid on the lot.

It is solely the buyer’s responsibility to comply with these laws and to obtain any necessary export, import and endangered species licences or permits. Failure to obtain a licence or permit or delay in so doing will not justify the cancellation of the sale or any delay in making full payment for the lot. As a courtesy to clients, Phillips has marked in the catalogue lots containing potentially regulated plant or animal material, but we do not accept liability for errors or for failing to mark lots containing protected or regulated species.

12. US Imports Customs Tarifs Buyers intending to import property into the United States of America should note that US Customs may charge an additional import duty upon the importation of (i) products manufactured or created in mainland China and (ii) printed materials (including photographs, prints, lithographs, books and designs) printed in the UK or Germany.

Phillips will mark with a symbol lots which may be subject to additional US import tarifs, where this is known to us. Please note, however, that any such markings are done by us only as a convenience to bidders. Phillips does not accept liability for errors including failing to mark lots accurately or for the absence of any marking.

Export, Import, Sales and/or Use Taxes Buyers should note that they are responsible for all charges, duties and taxes related to the exportation and importation of lots shipped by them or shipped on their behalf, including any applicable Sales and/or Use Taxes which may be due on importing the property to the United States.

Please contact the department organising the auction for further details.

13 Privacy (a) You acknowledge and understand that we may process your personal data (including potentially special category data) in accordance with our privacy policy from time to time as published at www.phillips.com or available by emailing dataprotection@phillips.com. (b) Our privacy policy sets out: (i) the types of personal data we will or may collect and process; (ii) the purposes for which we will or may process your personal data (including for example the provision of auction, private sale and related services; the performance and enforcement of these terms and conditions; the carrying out of identity and credit checks; keeping you informed about upcoming auctions, exhibitions and special events; and generally where reasonably necessary in the management and operation of our business); (iii) the lawful bases on which we rely in undertaking our processing of your personal data; (iv) your rights in respect of our processing of your personal data; and (v) various other information as required by applicable laws. (c) Phillips premises and sale and exhibition venues are subject to CCTV video surveillance and recording for security, client service and bid monitoring purposes and will be flmed during the auction for simultaneous live broadcast on our and third party websites and applications. By remaining in these areas, you acknowledge that you may be photographed, flmed and recorded and grant your permission for your likeness and voice to be included in such recordings. If you do not wish to be photographed or flmed or appear in such recordings, please speak to a member of Phillips staf.

Your communications with Phillips, including by telephone and online (e.g. telephone and on-line bidding) may also be recorded for security, client service and bid monitoring purposes. Where we record such information we will process it in accordance with our Privacy Policy available at www.phillips.com.

14 Limitation of Liability (a) Subject to sub-paragraph (e) below, the total liability of Phillips, our afliated companies and the seller to the buyer in connection with the sale of a lot shall be limited to the Purchase Price actually paid by the buyer for the lot. (b) Except as otherwise provided in this Paragraph 14, none of Phillips, any of our afliated companies or the seller (i) is liable for any errors or omissions, whether orally or in writing, in information provided to prospective buyers by Phillips or any of our afliated companies or (ii) accepts responsibility to any bidder in respect of acts or omissions, whether negligent or otherwise, by Phillips or any of our afliated companies in connection with the conduct of the auction or for any other matter relating to the sale of any lot. (c) All warranties other than the Authorship Warranty, express or implied, including any warranty of satisfactory quality and ftness for purpose, are specifcally excluded

by Phillips, our afliated companies and the seller to the fullest extent permitted by law. (d) Subject to sub-paragraph (e) below, none of Phillips, any of our afliated companies or the seller shall be liable to the buyer for any loss or damage beyond the refund of the Purchase Price referred to in sub-paragraph (a) above, whether such loss or damage is characterised as direct, indirect, special, incidental or consequential, or for the payment of interest on the Purchase Price to the fullest extent permitted by law. (e) No provision in these Conditions of Sale shall be deemed to exclude or limit the liability of Phillips or any of our afliated companies to the buyer in respect of any fraud or fraudulent misrepresentation made by any of us or in respect of death or personal injury caused by our negligent acts or omissions.

15 Copyright The copyright in all images, illustrations and written materials produced by or for Phillips relating to a lot, including the contents of this catalogue, is and shall remain at all times the property of Phillips and such images and materials may not be used by the buyer or any other party without our prior written consent. Phillips and the seller make no representations or warranties that the buyer of a lot will acquire any copyright or other reproduction rights in it.

16 General (a) These Conditions of Sale, as changed or supplemented as provided in Paragraph 1 above, and Authorship Warranty set out the entire agreement between the parties with respect to the transactions contemplated herein and supersede all prior and contemporaneous written, oral or implied understandings, representations and agreements. (b) Notices to Phillips shall be in writing and addressed to the department in charge of the sale, quoting the reference number specifed at the beginning of the sale catalogue. Notices to clients shall be addressed to the last address notifed by them in writing to Phillips. (c) These Conditions of Sale are not assignable by any buyer without our prior written consent but are binding on the buyer’s successors, assigns and representatives. (d) Should any provision of these Conditions of Sale be held void, invalid or unenforceable for any reason, the remaining provisions shall remain in full force and efect. No failure by any party to exercise, nor any delay in exercising, any right or remedy under these Conditions of Sale shall act as a waiver or release thereof in whole or in part.

17 Law and Jurisdiction (a) The rights and obligations of the parties with respect to these Conditions of Sale and Authorship Warranty, the conduct of the auction and any matters related to any of the foregoing shall be governed by and interpreted in accordance with Swiss law.

(b) For the beneft of Phillips, all bidders and sellers agree that the ordinary courts of the Canton of Geneva, Switzerland are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Sale and Authorship Warranty relate or apply, subject to appeal to the Federal Tribunal. All parties agree that Phillips shall retain the right to bring proceedings in any court other than the ordinary courts of the Canton of Geneva. (c) All bidders and sellers irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by Swiss law, the law of the place of service or the law of the jurisdiction where proceedings are instituted at the last address of the bidder or seller known to Phillips.

Authorship Warranty Phillips warrants the authorship of property in this auction catalogue described in headings in BOLD or CAPITALIZED type for a period of fve years from date of sale by Phillips, subject to the exclusions and limitations set forth below and the Important Notices set out in this catalogue immediately following the Guide for Prospective Buyers. (a) Phillips gives this Authorship Warranty only to the original buyer of record (i.e., the registered successful bidder) of any lot. This Authorship Warranty does not extend to (i) subsequent owners of the property, including purchasers or recipients by way of gif from the original buyer, heirs, successors, benefciaries and assigns; (ii) property where the description in the catalogue (including descriptions accessed via QR Codes appearing in this catalogue) states that there is a confict of opinion on the authorship of the property; (iii) property where our attribution of authorship was on the date of sale consistent with the generally accepted opinions of specialists, scholars or other experts; (iv) property whose description or dating is proved inaccurate by means of scientifc methods or tests not generally accepted for use at the time of the publication of the catalogue or which were at such time deemed unreasonably expensive or impractical to use or likely in our reasonable opinion to have caused damage or loss in value to the lot; or (v) property where there has been no material loss in value from the value of the lot had it been as described in the heading of the catalogue entry. (b) In any claim for breach of the Authorship Warranty, Phillips reserves the right, as a condition to rescinding any sale under this warranty, to require the buyer to provide to us at the buyer’s expense the written opinions of two recognized experts approved in advance by Phillips. We shall not be bound by any expert report produced by the buyer and reserve the right to consult our own experts at our expense. If Phillips agrees to rescind a sale under the Authorship Warranty, we shall refund to the buyer the reasonable costs charged by the experts commissioned by the buyer and approved in advance by us. (c) Subject to the exclusions set forth in subparagraph (a) above, the buyer may bring a claim for breach of the Authorship Warranty provided that (i) he or she has notifed Phillips in writing within three months of receiving any information which causes the buyer to question the authorship of the lot, specifying the auction in which the property was included, the lot number in the auction catalogue and the reasons why the authorship of the lot is being questioned and (ii) the buyer returns the lot to Phillips to the salesroom in which it was purchased in the same condition as at the time of its auction and is able to transfer good and marketable title in the lot free from any third party claim arising afer the date of the auction. Phillips has discretion to waive any of the foregoing requirements set forth in this subparagraph (c) or subparagraph (b) above. (d) The buyer understands and agrees that the exclusive remedy for any breach of the Authorship Warranty shall be rescission of the sale and refund of the original Purchase Price paid. This remedy shall constitute the sole remedy and recourse of the buyer against Phillips, any of our afliated companies and the seller and is in lieu of any other remedy available as a matter of law or equity. This means that none of Phillips, any of our afliated companies or the seller shall be liable for loss or damage beyond the remedy expressly provided in this Authorship Warranty, whether such loss or damage is characterized as direct, indirect, special, incidental or consequential, or for the payment of interest on the original Purchase Price

Paddle Number

7 rue de la Confédération, 1204 Geneva phillipswatches.com +41 22 317 8181 bidsgeneva@phillips.com • Private Purchases: Proof of identity in the form of governmentissued identification and recent proof of address will be required.

Please return this form by email to bidsgeneva@phillips.com at least 24 hours before the sale.

Please read carefully the information in the right column and note that it is important that you indicate whether you are applying to bid as an individual or on behalf of a company.

Please select the type of bid you wish to make with this form (please select one):

In-person Absentee Bidding Telephone Bidding

• Conditions Of Sale: All bids are placed and executed, and all lots are sold and purchased, subject to the Conditions of Sale printed in the catalogue. Please read them carefully before placing a bid. Your attention is drawn to Paragraph 4 of the Conditions of Sale.

• If you cannot attend the sale, we can execute bids confdentially on your behalf.

Please indicate in what capacity you will be bidding (please select one):

As a private individual On behalf of a company Sale Title Title

Sale Number First Name

Sale Date

Surname Account Number

Company (if applicable)

• Phillips charges the successful bidder a commission, or buyer’s premium, on the hammer price of each lot sold. The buyer’s premium is payable by the buyer as part of the total purchase price at the following rates: 25% of the hammer price up to and including CHF400,000, 20% of the portion of the hammer price above CHF400,000 up to and including CHF4,000,000 and 13.5% of the portion of the hammer price above CHF4,000,000.

• “Buy” or unlimited bids will not be accepted. Alternative bids can be placed by using the word “OR” between lot numbers.

Address

City

• For absentee bids, indicate your maximum limit for each lot, excluding the buyer’s premium and any applicable VAT. Your bid will be executed at the lowest price taking into account the reserve and other bidders. On no reserve lots, in the absence of other bids, your bid will be executed at approximately 50% of the low pre-sale estimate or at the amount specifed, if less than 50% of the low estimate.

State/Country

Zip Code Phone

Mobile

Email

Fax

• Your bid must be submitted in the currency of the sale and may be rounded down to the nearest amount consistent with the auctioneer’s bidding increments.

Phone number to call at the time of sale (for Phone Bidding only) 1.

• If we receive identical bids, the frst bid received will take precedence.

2.

Please complete the following section for telephone and absentee bids only Lot Number

• Company Purchases: If you are buying under a business entity, we require a copy of government-issued identifcation (such as the certifcate of incorporation) as well as proof of owners (including ultimate benefcial owners) and directors to verify the status of the company. This should be accompanied by an ofcial document confrming the company’s EU VAT registration number, if applicable.

Brief Description

Maximum Swiss Francs

price* In Consecutive Order

Absentee Bids Only

• Arranging absentee and telephone bids is a free service provided by us to prospective buyers. While we will exercise reasonable care in undertaking such activity, we cannot accept liability for errors relating to execution of your bids except in cases of wilful misconduct. Agreement to bid by telephone must be confrmed by you promptly in writing or by fax. Telephone bid lines may be recorded.

• Please submit your bids to the Bid Department by email to bidsgeneva@phillips.com or by fax at +41 22 317 8180 at least 24 hours before the sale. You will receive confirmation by email within one business day. To reach the Bid Department by phone please call +41 22 317 8181.

• Payment for lots can be made by credit card (up to CHF100,000) using Visa, American Express or MasterCard, or by wire transfer. Please note that credit cards are subject to a surcharge.

• Lots cannot be collected until payment has cleared and all charges have been paid.

• By signing this Bid Form, you acknowledge and understand that we may process your personal data (including potentially special category data) in accordance with Phillips’s Privacy Policy as published at www.phillips.com or available by emailing dataprotection@phillips.com.

• Phillips’s premises and sale and exhibition venues may be subject to video surveillance and recording. Telephone calls (e.g., telephone bidding) may also be recorded. We may process that information in accordance with our Privacy Policy. * Excluding Buyer’s Premium and VAT

Signature

Date

By ticking this box, you confrm your registration/bid(s) as above and accept the Conditions of Sale of Phillips as stated in our catalogues and on our website.

Please tick this box to receive emails about upcoming sales, exhibitions, and special events ofered by members of the Phillips group, as referenced in our Privacy Policy available on our website at www.phillips.com, where you may also update your email preferences or unsubscribe at any time.

Sale information Geneva, 8 November 2020

Head of Watches, Continental Europe and Middle East Alexandre Ghotbi +41 22 317 8189 aghotbi@phillips.com

Specialist

Tokyo

Isabella Proia +1 212 940 1285 iproia@phillips.com

Senior Specialist Consultant Genki Sakamoto +81 3 6273 4818 gsakamoto@phillips.com

Business Development Manager Specialists Tifany To +41 22 317 96 63 tto@phillips.com

Daniella Rosa +1 212 940 1395 drosa@phillips.com

Senior Consultant Kaz Fujimoto +81 3 6273 4818 kfujimoto@phillips.com

Administrator Virginie Liatard-Roessli +41 22 317 8182 vliatard@phillips.com

Jennifer Chung +1 212 940 1314 jenniferchung@phillips.com Hong Kong

La Réserve 301, Route de Lausanne 1293 Bellevue, Switzerland Auctions Sunday, 8 November 2020, 2pm Please register to bid online, absentee or by phone Under the aegis of Maître Tristan Reymond, Huissier Judiciaire Viewing

Cindy Yen +886 963 135 449 cyen@phillips.com

Thomas Perazzi +852 2318 2030 thomasperazzi@phillips.com

Consultant

Specialist & Business Development Associate

Head of Watches, Hong Kong

Zachary Lu +852 2318 2034 zlu@phillips.com

Marcello de Marco +41 22 317 81 81 mdemarco@phillips.com

Jill Chen +852 2318 2033 jchen@phillips.com

Catalogues

Cataloguer Edoardo Bolla +41 79 552 73 68 ebolla@phillips.com

Head of Sale, Specialist

catalogueswatches@phillips.com Catalogues 50 CHF / £35 / $50

Zi Yong Ho +852 2318 2032 ziyongho@phillips.com

Client Accounts

Regional Director, Business Development Director

Associate Specialist

Arthur Touchot +41 22 317 96 62 atouchot@phillips.com

clientaccountsswatches@phillips.com

Nathalie Monbaron +41 22 317 8183 nmonbaron@phillips.com

Wednesday, 4 November, 12pm–8pm Business Development Manager Thursday, 5 November, 10am–8pm Diana Ortega +41 22 317 8187 Friday, 6 November, 9am–12:30pm Saturday, 7 November, 9am–12:30pm dortega@phillips.com Sunday, 8 November, 9am–12:30pm Administrator Sale Designation When sending in written bids or making enquiries please refer to this sale as CH080320 or RETROSPECTIVE Absentee and Telephone Bids

Dominik Teichert +41 22 317 96 67 dteichert@phillips.com Shipping & Ofce Coordinator Marc-Antoine Moreau +41 22 317 96 60 mamoreau@phillips.com

Tel +41 22 317 8181 Fax +41 22 317 8180 bidsgeneva@phillips.com

Finance & Ofce Administration

Watch Department

Watchmaker, Technical Support

Geneva

Nicolas Commergnat info@alliance-geneve.com

Francesco Campi +41 22 317 96 71 fcampi@phillips.com

Senior Consultants Aurel Bacs +41 22 317 8188 abacs@phillipsbacsrusso.com Livia Russo +41 22 317 8188 lrusso@phillipsbacsrusso.com Client Relations Manager at Bacs & Russo Clara Kessi +41 22 317 8188 ckessi@phillipsbacsrusso.com

Senior Specialist

Head of Watches, Asia

Specialist & Head of Digital Strategy Auction & Viewing Location

Taiwan

New York

Shoyo Kawamura +852 2318 2035 shoyokawamura@phillips.com

Shipping

Cataloguer/Designer Gertrude Wong +852 2318 2045 gertrudewong@phillips.com

Photography

Digital Consultant Kevin Cureau kevincureau@philiips.com Senior Business Manager, Asia Felix Yip +852 2318 2034 felixyip@phillips.com Senior Administrator Jacky Lam +852 2318 2031 jackylam@phillips.com Administrator Stanley Sit +852 2318 2018 stanleysit@phillips.com London International Specialist, Director James Marks +44 20 7901 7916 jmarks@phillips.com

Head of Watches Americas, International Strategy Advisor

Specialist

Paul Boutros +1 212 940 1293 pboutros@phillips.com

Chris Youé +44 7778 143 563 cyoue@phillips.com

Senior International Specialist

Administrator & Client Liaison

Doug Escribano +1 212 940 1382 describano@phillips.com

Helena Cross +44 20 7901 2907 helena.cross@phillips.com

International Specialist and Head of Perpetual, Americas

Paris

Geof Hess +1 917 297 6328 ghess@phillips.com

International Business Development Director Pansy Ku +33 1 53 71 77 89 pku@phillips.com

shippingwatches@phillips.com

Clément Rousset

Advisory Board Jean-Claude Biver Henry Chan Helmut Crott Ike Honigstock Stephen Charles Li David Lou TK Mak Auro Montanari Jason Singer Kenneth Wong

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Index

A. Lange & Söhne

213, 214, 215, 240

Ludovic Ballouard

250, 251

Audemars Piguet

218, 223, 245, 272, 285, 286, 287, 289

MB&F

254, 255, 256

Ming

282

Breguet

246, 258 Omega

290

Bulgari

281 Parmigiani Fleurier

261

Cartier

237, 244 Patek Philippe

Credor

266

219, 224, 225, 226, 227, 229, 234,248, 263, 264,275, 276, 277, 278, 288, 292, 293, 294

Chanel

279 Philippe Dufour

206

Christophe Claret

260 Ressence

252

De Bethune

267, 268, 269 Richard Mille

220, 221, 222, 239, 270

F.P. Journe

207, 208, 228, 247, 257 Roger Dubuis

212

Franck Muller

238 Rolex

Greubel Forsey

216, 217

200, 201, 202, 203, 204, 242, 243

Grönefeld x Hodinkee

274

Romain Gauthier

211

H. Moser & Cie

283

TAG Heuer x Hodinkee

273

Harry Winston

262

Tudor

241

Hublot

205, 233

Urban Jürgensen

259

HYT

253

Urwerk

230, 231, 232

Ikepod

280

Vianney Halter

209

Lang & Heyne

265

Voutilainen

210, 284

Laurent Ferrier

236, 249

Zenith

291

Louis Erard x Alain Silberstein

271

Credits

2000 – 2005 World Construction Photography/Avalon, Ian Waldie 2000 – 2005 Culture Bryn Lennon, Jef Christensen 2006 – 2010 World David Paul Morris / Stringer, Bruce Weaver SCHOLARS: Thierry Stern Bloomberg 2006 – 2010 Culture Universal Images Group, Netfix SCHOLARS: NIGO Patrick McMullan 2011 – 2015 World Bloomberg, Zipline 2011 – 2015 Culture Bloomberg, Universal Images Group 2016 – 2020 World Peter Macdiarmid, Harry Murphy 2016 – 2020 Culture Anthony Wallace, TPG Every possible efort has been made to identify and contact all rights holders and obtain permission for the work appearing in these pages. Any errors or omissions bought to the publishers attention will be corrected in future editions.