Historical watches

The way the hands turn
Watches have not escaped the caprices of fashion any more than the upheavals of the recession. An overview of the latest trends.

The recession has redressed the balance and reset the clocks. Some second-hand watches have suffered in consequence. In the small world of auction sales, extravagantly proportioned models, with diameters exceeding 50 millimetres, are now paying the price of their lavishness. “These models were launched in 1997 by Panerai, the specialist in divers' watches designed for the Italian or German navies,” explains Romain Réa, expert at the Artcurial auction house. Since then, every brand except Rolex has rushed to embrace this new trend, encouraged by the Russian market.
Stars that never wane
On the eve of the economic hurricane, some watches reached stratospheric prices following speculative purchases at auctions. “At a public sale, a 1940 anti-magnetic Rolex chronograph (reference 35 25) could reach 60 000 euros then, compared with 25 000 euros today.” Despite this, the brand with the gold-crown emblem still leads the market thanks to star watches that never wane: the Rolex Daytona Paul Newman has maintained its price at 48 000 euros. “Rolex has always been an exception. It creates pure hand-made Swiss products combining resilience, style and technical excellence and, in addition, has always taken great care with its press campaigns.” The musts of the watchmaking world also include Vacheron Constantin and Patek Philippe, both symbols of perfect stability. Jaeger-LeCoultre has outsider status, Omega is suffering a slight downturn, Bell & Ross is maintaining its position honourably, while Longines and Universal are gaining ground. A water-resistant steel Longines chronograph from the 1940s is now worth 40 000 euros, against 2 000 euros ten years ago! “Wrist-worn chronographs are resisting the recession very well. They are the simplest type of complication watch – they count the hours and minutes – and are very pleasant to wear. The golden age of the chronograph watch occurred between the 1930s and 1950s. Following a slight dip in the 1960s, the arrival of automatic models in the 1970s revived the market. They are still very affordable today. You should count 2 000 euros for an automatic Breitling or Zenith.” Watch this space, then.

In contrast, the market for tourbillon watches has collapsed. Patented by Breguet in 1801, they were the pride of the Russian Tsars before being discovered by the oligarchs. Every brand thus laboured to release a tourbillon in a ripe market, which quickly became saturated. “As a result, this mechanical refinement that had everyone in ecstasies fifteen years ago has now become almost vulgar.” With regard to materials, yellow gold seems to have the confidence of the bidders over stable steel because of its affordability. “Rarity still makes all the difference, though,” points out Romain Réa. “A gold Patek chronograph from the 1950s costs between 20 000 and 25 000 euros. But a steel model will fetch three times that price, simply because it was made to order.” As regards shape, there is a return to elegance with ultra-thin models. At auctions in Monaco last year, the Russian language was silent, while Italian intonations could be heard, together with French accents and a few American tones... bling definitely seems to have lost its lustre.


Artcurial sale, 1st December at 3 p.m.
7, Rond-point des Champs-Elysées, 75008 Paris.


Patek Philippe
Perpetual calendar.
Chronograph, circa 1990.
Mechanical movement.

Rolex Sea-Dweller Comex, circa 1970.
Diver's watch supplied to the Compagnie Maritime d'Expertise.
Automatic movement.


Zenith El Primero
Chronograph, circa 1969.
Automatic movement.

Breguet Type XX
National navy.
Maritime aviation, circa 1960. Mechanical movement with "flyback" function, made in a limited edition of 500 timepieces.

Pierre DeRoche

Visitors, my excuses for posting nothing so long. I am really busy with my internship at the moment. I promise I am going to post more freguently! For this moment I am working on the watch style guide for the month February. We also have a nice topic during the Baselworld fair which starts March 18. We have a special guestreporter from Basel. The watch on the picture is a baselworld 2010 preview from Pierre De Roche. Its a limited editon of 201 pieces.

Technical Specifications

Movement:
Automatic, exclusive Dubois Dépraz calibre, 49 jewels, decorated and engraved circular (360°) rotor, Côtes de Genève large date bridge


Functions:
Hours, minutes, seconds, large date and flyback chronograph with 60-minute and 12-hour counters


Case:
Black PVD titanium container; steel bezel, horns, screw-down crown, crown guard and pushpieces, 45.5 mm
Anti-reflective sapphire crystal and sapphire back
Water-resistant to 100 m

Bracelet/Strap:

Crocodile with safety folding clasp

Other versions Limited series of 21 pieces in pink gold-steel-titanium

Retail $10,000-20,000

Written by: Tobias. S