Slowing Watch Sales Bring More Variety At SIHH 2016

The prototype Van Cleef & Arpels Midnight Nuit Lumineuse watch with diamonds that light like stars using a mechanical power source

SIHH, the second largest gather of the Swiss watch industry, was held January 18 - 22 as reports emerged confirming that watch sales have slowed. The Federation of the Swiss Watch Industry said Tuesday that exports for 2015 declined 3.3 percent year-over-year to 21.5 billion Swiss francs ($21.1 billion). This coincided with Richemont’s third quarter earnings statement two weeks earlier, which reported that sales fell by 4 percent year-over-year at constant exchange rate to 2.92 billion Swiss francs ($2.86 billion).

The blame for the decline range from the combined austerity measures and stock market turbulence in China, the effects of a strong Swiss currency (particularly in Europe) and the introduction of the Apple Watch, which may have resulted in the steep decline of watch exports in the 200-franc to 500-franc price range. Even the Paris terrorist attacks had a major impact on watch in the “City of Light,” according to reports. And 2016 is looking like another year of softer sales.

One thing that hasn’t changed is silly stories in the consumer press that tout complicated timepieces as being “insane” and a layered, carbon-fiber writing instrument that uses a mechanical movement to expose and retract the nib as a “crazy ass pen.”

Back to the matter at hand, despite slowing sales the mood at SIHH was largely positive. The 24 watch brands presented more than enough new items in a number of styles and price points to leave retailers and trade journalists satisfied. One UK retailer told me that prices were more “realistic” this year.

The Parmigiani Senfine concept watch movement with 45-day power reserve

Among the biggest developments, two were for products that were not yet available to the public. The Parmigiani Senfine concept movement, which boasts a remarkable 45-day power reserve, and the Van Cleef & Arpels Midnight Nuit Lumineuse watch, which has diamonds that light like stars using a mechanical power source (top photo).

Richard Mille RM 50-02 ACJ Tourbillon Spilt Seconds Chronograph

The other big release was the RM 50-02 Tourbillon Spilt Seconds Chronograph ACJ Chronograph, made in a partnership with the exclusive Airbus Corporate Jets division of the Airbus Group. It incorporates design details and materials of the ACJ aircraft. It’s limited to 30 pieces and has a price tag of more than $1 million.

A. Lange & Söhne Datograph Perpetual Tourbillon

A. Lange & Söhne, which has mastered the ability to create highly technical movements and house them inside beautifully balanced dials, introduced the latest edition of its highly praised Datograph chronograph timepieces, the Datograph Perpetual Tourbillon. This newest version from the proudly German company combines the Datograph chronograph with a flyback function and Up/Down power reserve indicator and the typical Lange outsize date; with a perpetual calendar with a moon-phase display; and a tourbillon exposed on the sapphire-crystal caseback and the open tourbillon bridge. 

This year, for the first time, the established 15 brands (11 owned by the Swiss holding company, Richemont) at SIHH were joined by nine watch artisan-creators and independent workshops. They all showcased their unique approach to watchmaking. One brand, Ralph Lauren, pulled out of the show this year.

MB&F Sherman table clock in gold

MB&F, perhaps the most successful of the new group, not only introduced its latest “horological machine” but also unveiled its latest in artistic and creative table clocks. Called “Sherman,” it is once again made in partnership with Swiss clock manufacturer, L’Epée 1839. It is in the shape of a boyish robot, with movable arms and hands, and tank-like caterpillar tracks for feet. It was inspired by the US Sherman tank and MB&F’s founder, Maximilian Büsser’s on-going quest to revisit his childhood. The balance and escapement of L’Epée’s eight-day, in-line movement is located under the transparent dome of Sherman's head.

The Roger Dubuis Blossom Velvet ladies timepiece

Finally, Roger Dubuis declared 2016 to be the “Year of the Velvet Diva” by focusing on a collection of ladies watches called, Velvet. The five-watch collection combines high jewels powered by robust automatic movements.

For more highlights from what is rightfully touted as the watch industry’s most luxurious and exclusive watch show, stay turned to this blog.

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Patek Philippe Timepieces to Lead Offerings at Sotheby’s Hong Kong Watch Auction

Patek Philippe Platinum Minute Repeating Retrograde Perpetual Calendar Tourbillon Wristwatch Ref. 5016P

Several Patek Philippe timepieces with custom-made dials, extremely limited editions of creations by renowned independent watchmakers, and a selection of 50 enamel and complicated pocket watches spanning the late 18th to early 20th centuries are among the items that will be placed on auction at Sotheby’s Hong Kong Important Watches Spring Sale 2011, April 7 at the Hong Kong Convention and Exhibition Centre. More than 300 lots are estimated to bring in about $6 million. (All figures are in U.S. dollars and does not include buyer’s premium.)

Leading the sale are two Patek Philippe complications, each bearing the personal imprint of their respective collectors. The Patek Philippe platinum minute repeating perpetual calendar tourbillon wristwatch with retrograde date and moon-phases (top photo) is accompanied by three additional dials, Circa 2004, Ref. 5016P (auction estimate, $460,000 – 700,000). With more than 500 minuscule parts, the watch held the title of the most complicated Patek Philippe wristwatch ever produced. 

Being offered at auction for the first time, a Patek Philippe platinum and diamond-set perpetual calendar chronograph wristwatch with register, moon-phases and leap year indication, Circa 1996, Ref. 3990P (estimate, $210,000 - 250,000). It is one of four Ref. 3990 in platinum to appear in public to date. The watch is accompanied by an extract from the archives of Patek Philippe confirming its production in 1996 with ardoise or slate grey dial, diamond indexes and 40 baguette-cut diamonds weighing approximately 2.97 cts. and its sale on Dec. 17, 1996.

Also available is a Patek Philippe platinum split seconds chronograph perpetual calendar wristwatch with register, moon-phases and leap year indication, Circa 2003, Ref. 5004P (Est. $190,000 – 250,000) It was introduced in 1995 and contains 407 individual parts.

Another Patek Philippe timepiece is the platinum and pink gold automatic astronomical wristwatch with sky chart, phases and position of the moon and time of meridian passage of Sirius and the moon, Circa 2010, Ref. 5102PR Celestial (Est. $220,000-280,000).

 Recently discontinued, the Patek Philippe platinum and diamond-set perpetual calendar chronograph wristwatch with register, moon-phases and leap year indication, Circa 2010, Ref. 5971P, is expected to fetch an estimated $210,000 - 250,000.

Another highlight of the sale is a Breguet white gold and diamond-set skeletonised tourbillon wristwatch, Circa 2002, Ref. 3356 (Est. $170,000 - 230,000). It boasts a hand-engraved manual winding tourbillon movement in full skeletonisation.

Launched at the turn of the millennium by German watchmaker A. Lange & Söhne, is the limited edition pink gold tourbillon wristwatch with oversized date and power reserve indication, Circa 2000, Lange 1 Tourbillon No. 74/250 (Est. $70,000 – 100,000).

 F. P. Journe’s Tourbillon Souverain, debuted at BaselWorld 1999, was discontinued in 2003, despite its immediate success, to maintain exclusivity. In this sale Sotheby’s is offering a more sophisticated version of this iconic timepiece—the F. P. Journe limited edition titanium and pink gold tourbillon dead beat seconds wristwatch with power reserve indication, Circa 2007, Tourbillon Souverain (Est. $100,000 - 140,000). It was awarded the esteemed Aiguille d’Or at the Geneva Watchmaking Grand Prix in 2004. The present lot was produced in a special limited edition of only five pieces for the first anniversary of the F. P. Journe Hong Kong boutique in 2007 and is numbered 1.

Also on sale is the Franck Muller yellow gold tourbillon perpetual calendar split seconds chronograph wristwatch with register and leap year indication, Circa 1992, No. 1 World Premier (Est.$40,000 - 60,000). It was created entirely by hand by Franck Muller himself, taking him more than 14 months.

Catering to Asian collectors, this season Sotheby’s will present a selection of pocket watches, highlighted by a Patek Philippe yellow gold open-faced minute repeating perpetual calendar keyless chronometre watch with moon-phases, 24-hour indication and earnshaw-type spring detent escapement, retailed by Beyer, Circa 1990, Ref. 961 (Est. $100,000 – 150,000). Introduced in 1989, it is one of the most complex movements created by Patek Philippe for a modern pocket watch. Very few pieces of the Ref. 961 are believed to exist and only three are currently known to the public.