Timepiece Tuesday: Antiques, Girl’s Luxury Watch, Special Editions, An Awards Preview and a Social Media Contest

Chinese Watch Collectors Have Appetite for Vintage Pieces

Is there anything regarding luxury that the Chinese don’t want? Each season, Christie’s presents a range of 19th-century timepieces made especially for the Chinese market. This year, at the auction house’s Dec. 2 auction of watches, five 19th-century timepieces made especially for the Chinese market are coming up for sale. One, a circa-1877 gold-and-enamel pocket watch depicting three angels, is estimated to sell for between HK$320,000 and HK$480,000 (pictured). In addition, in 2005, Asia overtook the U.S. as the biggest market for Patek Philippe. Collectors are buying both new and vintage models, but there is an increasing focus on older pieces, according to the Wall Street Journal blog, Scene Asia.

Antique Clock Auction

Clocks will be a major focus in the Skinner, Inc. annual auction of Science, Technology & Clocks on November 20 in its Marlborough, Mass., gallery. Among the timepieces on the block, is a very important regulator by the Bond Shop (pictured). The Regulator No. 396 is was one of three made; No. 394 was developed for the Harvard Observatory, No. 395 for an observatory in Liverpool, England, and No. 396 for the personal use of Bond in his chronometer shop. As the director of the Harvard Observatory, Bond was one of the first to work towards establishing standard time. It is estimated at $300,000 to $500,000. Other clock highlights include a Newport tall clock, c. 1725 by William Claggett of Newport, R.I., which is the earliest American clock being offered in the sale. The piece is estimated at $60,000 to $80,000. The sale also includes a number of Willard clocks.

Frederique Constant to Introduce Luxury Girl’s Watch

The U.K. trade publication, Professional Jeweller, has learned that Frederique Constant will introduce a girl’s luxury watch at BaselWorld. “The company’s global sales director, Ralph Simons, confirmed it with a nod of his head during an interview this week,” the publication wrote. Stay tuned.

Marvin Unveils Sébastien Loeb Collection

Swiss luxury watch brand Marvin has created a new limited edition line in partnership with its ambassador, World Rally champion Sébastien Loeb. Two exclusive chronographs have been developed with Loeb and they both carry his signature. Their design is the work of two creative watchmakers: Jean-François Ruchonnet, best known for the TAG Heuer Monaco V4 and the Cabestan, and Sébastien Perret, the Neuchâtel designer who has been associated with all recent Marvin collections. The new Loeb Special Edition has a 44 mm diameter steel case flexible red horns mounted on spring suspensions, buttons coated in black PVD that resemble gear change paddles, and counters designed like dashboard instruments. The collection is limited to 777 pieces, representing Loeb’s seven world championship titles.

Grand Prix d'Horlogerie Preview

The 2010 edition of the Grand Prix d'Horlogerie de Genève will be November 18 at the Geneva Grand Théâtre. Ten timepieces have been shortlisted for each of the competition’s seven categories, including best ladies, men’s, design, jewelry, complicated, sports and the Petite Aiguille watch prize (the best timepiece under SFr5,000). There will also be four special awards, including the public prize, voted for by 5,000 participants. Brands shortlisted include Bulgari, Van Cleef & Arpels, Ralph Lauren, Audemars Piguet, Piaget, Chopard, Chaumet, Graff, Harry Winston and Chanel. The Financial Times has written a preview of the prestigious event that can be viewed here (subscription required).

Baume & Mercier In Search of ‘Very Special Reporter’

Baume & Mercier has launched a contest appealing to its social media fans. The Swiss luxury watch brand has invited its 75,000 Facebook fans to upload videos explaining their love of the brand and why they would make ideal "Very Special Reporters" at the upcoming Salon International de la Haute Horlogerie in Geneva, Jan. 17–21, the trade show for high-end watch manufacturers and buyers.

Richemont Jewelry Sales Up 32%, Watches Up 40%; U.S. Sales Up 52%

Richemont headquarters

Swiss luxury goods group Compagnie Financiere Richemont SA said Wednesday that sales for the five-month period, ended August 31, increased 37 percent in actual exchange rates, over the same period a year ago. All segments of the company and all regions saw strong growth, which reflects in part, low comparative figures reported in the prior-year period and recent acquisitions.

Richemont released its financial results for the period before its annual general meeting Wednesday, held at its headquarters in Geneva.

The company saw double-digit growth in all its brands, which it calls “Maisons.” Watch sales—which include Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis—reported a year-over-year 40 percent increase at actual exchange rates. When currency fluctuations are included the growth is 30 percent. Jewelry sales—which include Cartier and Van Cleef & Arpels—rose 32 percent at actual exchange rates and 21 percent at constant exchange rates.

Its writing instrument brand, Maison Montblanc, grew 28 percent at actual exchange rates and 20 percent at constant exchange rates. Meanwhile, its division listed as “Other,”—which include Alfred Dunhill, Lancel, NET-A-PORTER and Chloé—saw an increase of 62 percent in actual exchange rates (51 percent constant). This is at least partly due to the company’s recent acquisition of the shopping Web site, NET-A-PORTER.

By region, the Americas saw a 52 percent increase (38 percent actual), largely because of very weak comparative figures for the prior fiscal year.

The Asia-Pacific region, which includes the Middle East (51 percent constant, 36 percent actual), is the company’s most important region accounting for 41 percent of overall sales. In Europe, the sales increase of 27 percent at constant exchange rates and 23 percent in actual rates, fall to 15 percent at constant rates when new business is excluded from the figure. Meanwhile, results in Japan, (22 percent constant, 4 percent actual) were boosted due to favorable exchange rates.

In total, its retail division grew 47 percent (34 percent constant). Excluding the acquisition of NET-A-PORTER, retail sales increased by 24 percent at constant exchange rates.

Its wholesale business, which suffered in particular during the comparative period due to de-stocking by business partners in some markets, saw an increase of 30 percent (21 percent constant) for the period.

“The improved trading environment is certainly welcomed. However, it is far too soon to draw any conclusions about the sustainability of the economic recovery or whether the recession is truly behind us,” said Johann Rupert, Richemont executive chairman and CEO. “This time last year we were still seeing falling sales. This year, with double digit sales growth already in hand, Richemont will report significantly higher first half profit. However, the rest of the year is less straightforward. In the second half of last year, we saw some recovery in sales, setting higher comparative figures against which sales in the six months from October to March will be measured. Relative to the present conditions, those comparative figures were achieved with a weaker euro against the dollar and yen. Compared to the second half of last year, the current strength of the Swiss franc will be negative for the cost of sales.”

In addition to the brand’s mentioned, Richemont’s portfolio includes a Ralph Lauren Watch and Jewelry joint venture and other smaller Maisons and watch component manufacturing activities for third parties.

Baume & Mercier Reveals ‘Promesse’ Ladies Watch Collection in New York

Actress Jessica Pare introduces the Promesse collection while Alain Zimmerman, Baume & Mercier’s CEO, and Rudy Chavez, Baume & Mercier’s North American president, look on. Behind them are the padlocks where guests were able to make a “promise” to themselves. Photo credit: Anthony DeMarco

Baume & Mercier unveiled its first new ladies watch collection in nearly 10 years during an event in New York attended by Swiss watch brand’s top officials along with several celebrities, including actress Jessica Pare of Mad Men.

Baume & Mercier Promesse 10157 in stainless steel with a drapé guilloché dial.

The company unveiled the “Promesse” timepiece collection during the June 18 event at Gotham Hall, also attended by Star Jones and Supermodel Emme. The line consist of 14 pieces in two sizes, 30 and 34mm, and are available in a Swiss-made quartz or automatic movement that can be viewed through a transparent caseback. The collection is inspired by the unconventional watches the company created for ladies in the 1970s.

The automatic movement.

The watches combine different decorative and functional elements. All of the pieces employ an oval bezel that surround a round dial, the signature nod to one of its1970 models. Most of the models use a drapé (draped) guilloché design for its dials while others employ colorful mother-of-pearl. All of the dials also use Roman numerals at the 12, 3, 6 and 9 o’clock positions. Most use diamond markers on the remaining indices. Diamonds, mother-of-pearl, or red gold (creating a two-tone effect) are also used to further enhance the bezels. The watch straps are available in stainless steel, a two-tone combination (stainless steel and plated red gold), white satin, or black alligator.

Baume & Mercier Promesse 10166 with black mother-of-pearl black dial with a “drapé guilloché” and 61 diamonds.

There are enough subtle variations in its 14 models to create several options for women who purchase this watch. The Promesse (French for Promise ) is being marketed to self-purchasing women, inspiring them “to hold a promise close to their heart while celebrating their unique individuality through their own timepiece.” This notion was reinforced at a June 18 event in New York marking the US release of the timepieces. Guests were given a padlock and asked to inscribe their own personal promise before locking it to a metal stage prop modeled after the romantic bridges in Paris.

Baume & Mercier Promesse-10163 combines steel and red gold-capped steel with a silver-colored “drapé guilloché dial.

In addition to the celebrities, Baume & Mercier’s global CEO, Alain Zimmerman and North American president, Rudy Chavez were in attendance. Pare wore the Promesse 10160, an oval, mother of pearl, steel bracelet watch with 30 diamonds set on the bezel (pictured below).

The watches will be available in September at select retailers nationwide and online, starting at $1,900.

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Inside the World's Most Exclusive Watch Show

Montblanc, which added Swiss watches to its diverse luxury portfolio in 1997, used its showroom to display many of the contemporary art pieces that are on permanent display at its headquarters in Hamburg. All of the work includes an interpretation of the iconic Momntblanc star. Photo credit: Anthony DeMarco

GENEVA — The big news last week in this small country with a mighty economy and far-reaching global influence was the annual World Economic Forum held in Davos. Although overshadowed, another important annual event was being held: the Salon International de la Haute Horlogerie (SIHH), arguably the most exclusive watch show in the world. 

By far the youngest and arguably the most innovative of watch brands today, Richard Mille displayed some of this innovation not only in the materials and concepts of its watches, but in its 3D presentation to the press during SIHH. Photo credit: Anthony DeMarco

The most recent installment of SIHH ended with the 16 watch brands, among the most prestigious in the world, introducing their latest timepieces, often the result of years of intensive research. It’s an invitation only event held each year at the Palexpo exhibition center. This year I was among the more than 13,000 invited guests (which included international retailers, journalists and brand representatives) to attend. 

Roger Dubuis introduced its Excalibur line of watches with a Bird of Prey as the centerpiece of its showroom. Photo credit: Anthony DeMarco

Twelve of the watch brands exhibiting are owned by Richemont, the Geneva-based luxury holdings company, which is why the event (held Jan. 21 – 25) is often referred to as the Richemont show. 

Decked out for racing the IWC Schaffhausen showroom was one of the most popular during SIHH. the display was used to introduce its Ingenieur Chronograph Racer and Ingenieur Silberpfeil, the second watch dedicated to the famous Mercedes-Benz Silver Arrow racing car. Photo credit: Anthony DeMarco

There’s been talk about a slowdown in the luxury business, (particularly watches). The growth is slower than the astronomical rise in sales of the past few years, led by China. In fact, one could say that the growth in sales is now at a more normal pace. Richemont numbers point to this as the company reported that third quarter sales increased 5 percent, year-over-year, to 2.86 billion Swiss francs. Its “Specialist Watchmakers” group saw even more growth at 9 percent to 784 million Swiss francs. In addition, annual Swiss watch sales, which are expected soon, are expected to surpass 20 billion Swiss francs for the time ever. 

Butterflies were used tomillustrate the delicate intricacies of Van Cleef & Arpels' new watch and jewelry lines. Photo credit: Anthony DeMarco

There was some caution among the brand officials when talking sales, but overall, life remains good in the Swiss watch industry. 

The main gathering area at the Salon International de la Haute Horlogerie. Photo credit: Anthony DeMarco

A giant replica of its new Grand Complication timepiece was the major design element of the A. Lange & Söhne showroom. Photo credit: Anthony DeMarco

A look inside Baume & Mercier's summer-in-the Hamptons themed showroom. Photo credit: Anthony DeMarco

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Richemont 3Q Jewelry Sales Up 20% and Watch Sales Up 21%

Cie. Financiere Richemont SA said Monday that third-quarter revenue rose 33 percent to 2.1 billion euro ($2.8 billion), led by the acquisition of online fashion retailer Net-a-Porter.com. At constant exchange rates (when currency shifts are removed) revenue grew 23 percent.

By category, the Swiss company’s jewelry business (made up of Cartier, Van Cleef & Arpels), increased by 20 percent at constant exchange rates (30 percent actual exchange rates) to just over 1 billion Euros ($1.45 billion). Watch sales for the period ended December 31, increased 21 percent (30 percent at actual exchange rates) to 543 million Euros ($720 million). The watch business is made up of the following brands: Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis.

By far the largest increase to company’s business is in its “Other” category (up 63 percent), which reflects the purchase last year of luxury e-commerce website, Net-a-Porter.

“Richemont’s Maisons performed well and saw good sales growth, particularly at the retail level, during the three-month period,” said Johann Rupert. Richemont executive chairman and Group CEO. “Sales in the month of December grew by 17 percent at constant exchange rates and excluding the impact of the Net-a-Porter acquisition.”

He added, “Higher comparative figures will make the final quarter of the financial year ending 31 March 2011 more challenging Gross margin is anticipated to be negatively affected by a stronger Swiss franc given the Group's Swiss manufacturing base and by the planned changes to product lines at one of the Group's Specialist Watchmakers, which will be largely implemented during the coming quarter.”

In addition to the companies listed, Richemont owns Montblanc, which makes writing instruments, Purdey, the luxury hunting gun maker, and Alfred Dunhill, the London-based maker of leather goods, fashion and lighters, as well as a watch and jewelry joint venture with Ralph Lauren.

Luxury Ladies’ Watches with Beauty, Brains and Brawn

Vacheron Constantin Métiers d’Art Florilège

The masculine world of watchmaking is showing a newfound respect for women by producing luxury timepieces that are beautiful and built with quality in-house movements and, in some cases, multiple complications. This was evident at the recent Salon International de la Haute Horlogerie (SIHH), the exclusive annual tradeshow for luxury watches held in Geneva.

The majority of the 16 brands exhibiting were proudly displaying their feminine side and it’s about time. In my own humble way, I lobbied a few watchmakers to build lady timepieces that are comparable to men’s, though my reasons were selfish. I wanted my wife to stop wearing my watches and damaging the leather straps by tightening them around her much smaller wrist.

Some of the watches below certainly depict feminine themes but there are a few that have a masculine edge to their design. All are powered with mechanical or automated movements. In most cases these movements are superb; comparable to haute horlogerie produced for men. These are not jewelry watches with quartz movements. This group of new timepieces shows that the brands are on the right track when it comes to developing product for modern, active women. At least now, women have more choices.



Vacheron Constantin Métiers d’Art Florilège
The venerable Swiss luxury watch brand has gone all out to attract women this year. It created three new collections of haute horlogerie for women culminating with the elaborately decorated timepieces that make up the Métiers d’Art Florilège (top picture). This three-watch collection pays tribute to the delicacy of 19th Century English botanical illustrations, in particular, Robert John Thornton’s landmark illustrated guide, The Temple of Flora, published in 1799. The botanical renderings on the watch dials combine the artistic crafts of enameling, guillochage and gem-setting (the video above depicts the process). The timepieces are powered by a Vacheron Constantin manual-winding caliber 4400 movement. The three watches in the collection are the Queen, White Lily and China Limodoron. The Métiers d’Art Florilège is available in a limited series of 20 collector’s watches with the bezel set with round-cut diamonds and 5 more with the bezel set with baguette-cut diamonds for the Vacheron Constantin Boutiques.
 

Montblanc Collection Princesse Grace de Monaco Pétales de Roses
The Hamburg-based luxury brand introduced a number of new models of the Montblanc Princess Grace of Monaco Collection—ranging from one that can transcend from casual to formal to two haute joaillerie pieces. They compliment the jewelry line under the same name by designer Susie Otero. All of the watches are 34mm and all contain the self-winding movement MB 4810/409. One of the high jewelry pieces is the “Pétales de Roses” (rose petals). Invisible joints connect individual petal contours to create floral loops that form a linked bracelet. The entire ensemble is made from 18k white gold set with 533 brilliant-cut diamonds. The white mother-of-pearl dial is adorned with rose petals made of 79 brilliant-cut diamonds. The face is surrounded by 130 brilliant-cut diamonds while the bezel that bears 44 baguette diamonds.

Second Authentic Jewelry Watches from Montblanc Collection Villeret 1858
Montblanc’s haute horlogerie manufacturing brand, Villeret 1858, also produced a line of high-performance ladies’ watches using the same hand-crafted Swiss techniques that it employs for its men’s counterparts. The company has long been known for its hand-crafted movements and it didn’t spare any of the skill and technique to produce it mechanical hand-winding calibre MB2.00 for this ladies timepiece. The 36mm watch has a mother-of-pearl dial with black Roman numerals. The seconds are shown on a subdial at 6 o’clock. The concave polished bezel is adorned with 144 brilliant-cut diamonds with a total weight of 0.93 carats. Production will be limited to 58 pieces.

Van Cleef & Arpels Ballerine Enchantée
The famed Parisian jewelry brand also went after women’s market in a big way with three collections of watches combining artistic techniques with in-house movements. The Ballerine Enchantée added a nothing “poetic” step by adding a double retrograde movement with time on demand. The dial depicts a golden ballerina, sculpted in relief and set with diamonds, emphasizing her waist and face. At the push of a button on the bezel, the outer veils of her tutu come to life, taking the appearance of butterfly wings. The first veil that rises indicates the hours and second veil the minutes. They remain in place allowing enough time to read the time and then return simultaneously to their initial positions (the video below demonstrates how it works). Several shades of blue on the dial in the background are created with layers of enamel in guilloche patterns. The bezel of the 40.5 mm white gold case is set with diamonds.

Audemars Piguet Ladycat Royal Oak Offshore chronograph
It’s the 20th anniversary for the Royal Oak Offshore and with it the Swiss luxury watch brand introduced new ladies’ pieces including this 37mm chronograph. The stainless steel case of this limited-edition timepiece reveals the Royal Oak Offshore logo on the back. The bezel is set with diamonds. The black dial with its “Mega Tapestry” pattern includes pink gold applied hour-markers and Royal Oak hands with luminescent coating. The self-winding caliber 2385 movement is an integrated chronograph movement that provides separate hour, minute and second functions, displayed on the dial at 9 o’clock, 3 o’clock and 6 o’clock, respectively. The date display appears at 5 o’clock.

Baume & Mercier Linea
The 27 mm case of the new Linea automatic is engraved in steel or in steel trimmed with gold. Its mother-of-pearl dial has a date window at the six o’clock position and can be set with 11 diamond hour markers. The Linea’s automatic movement displays hours, minutes and seconds. One of the signature details of this iconic collection is interchangeable bracelets that include leather and satin in several colors. 

Cartier Crash
Housed in its iconic asymmetrical case and dial, Crash appears in a limited edition of four new models adorned for the first time with a bracelet composed of drops in white or pink gold, or gem-set. In reference to the year of its creation (1967), this year’s pieces are produced in 267 numbered pieces for the models with gold bracelets and 67 numbered pieces for the models with gem-set bracelets.

Roger Dubuis Excalibur 36 Jewelry
This is another high jewelry piece with a superb movement, in this case the mechanical calibre RD821. This piece from has a bracelet adorned with 708 brilliant-cut diamonds, totaling 4.25 carats, which form two symmetrical rows on either side of the polished center. The bezel is set with 48 diamonds totaling 0.99 carats. The pink gold extends onto the Roman numerals of the dial and on the circle around the small seconds counter at 6 o’clock.

Parmigiani Pershing Chronograph 002 CBF
This 42mm chronograph contains the PF334automatic winding movement. The tinted mother-of-pearl dial contains a small seconds subdial at 3 o’clock a 12-hour subdial with date window at 6 o’clock and a 30-minute subdial at 9 o’clock. The polished rose-gold bezel is set with set with 56 brilliant cut diamonds.

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