Horolonomics

There's a quip in the world of finance: "nobody rings a bell at the top or bottom of the market." AI generated image of someone looking for the bottom of a chasm. If you're on a trading floor, you know it is the start of the day because of the "opening bell." But, if you reach the low point for prices, there is no bell. Everyone just has to do their best to figure out if prices are finally going to start increasing again. This is certainly true of watches. According to Chrono24's Chronopulse index of watch prices (full disclosure, I've contributed to this index), we've just begun the third year of a "bear market" for preowned watches. Chronopulse overall index of late. The rate of decrease in prices has certainly slowed, but there hasn't been an overall turnaround in prices just yet. It is hard to say if we're at the bottom or if we're just on a gentle downslope that will continue for the near term. Right or wron

One of the less glamorous, but nonetheless important, activities in the watch industry relates to intellectual property (IP). AI thinks this is what it would look like if Rolex and a customizer were gladiators fighting in an arena. Largely behind the scenes, micro mechanical engineers file patents, brand founders file trademarks and attorneys file lawsuits when they believe someone has infringed on the rights of a horological IP owner. Periodically, some of this activity is covered by the popular press, particularly when there is a lawsuit. For example, Swatch Group's unsuccessful litigation against Vortic was covered by a wide range of media outlets (and Vortic themselve documented the legal clash on YouTube and in a forthcoming book . A somewhat recent watch market development relates to the customization of timepieces. Customization can take many forms, including "bust down" watches in which gemstones are added by an aftermarket jeweler. I first realized watch

The story of watches and moon exploration is arguably more well-trodden than the surface of the moon itself. A view of the moon from the IM-1 lunar lander. Photo credit Intuitive Machines. The Omega Speedmaster is the incumbent "moonwatch," a title earned after U. S. astronaut Wally Schirra wore his personal Speedy on Earth orbit in 1962. Seven years later, Speedmaster was there when humans first landed on the moon. What's interesting is that this legacy of Omega on the moon emerged through serendipity. There was no grand marketing plan or product placement strategy or KPI which choreographed the arrival of the Speedmaster on Schirra's wrist. Instead, Omega learned that the Speedmaster had been adopted by NASA astronauts in 1965 when they saw a news photo of Ed White wearing one during a spacewalk. Eventually, Omega's role in spaceflight became more intentional and formal. An Omega Speedmaster Project Alaska III. I took this photo during a Phillips auc

News recently broke that watch brand Rolex was on the receiving end of a €91 million fine levied by French authorities. A view of Rolex's offices in France. Source: Google Maps. Generally, the headlines ascribed this fine to Rolex's alleged practice of prohibiting online sales of its watches. However, I've looked closely at the situation and I don't think those headlines are completely accurate (although they're probably what French authorities would want you to believe). I came to this conclusion after reading a Google translation of a 134 page report issued by the French Competition Authority on December 19, 2023. Generally speaking, such documents do not make for engaging reading. However, for those who know how successful Rolex has been at maintaining a comparatively high level of corporate secrecy, the French report provides a compelling and rare insight into some specific aspects of the brand's business. It is these insights which lead me to conclu

Raleigh Iron Works rendering. Photo credit Jamestown LP. Luxury watch maker Audemars Piguet has announced a new North American service center in Raleigh, North Carolina. The brand plans to spend $22 million on the new facility and it will create 105 new jobs in the state's capital. The service center will be located in Raleigh Iron Works, a new mixed-use development in downtown Raleigh. Watchmakers will be able to enjoy a variety of neighboring businesses, including a brewery, restaurants and a gym. There is also a slide from the top of a staircase. Further afield, Raleigh is part of the "research triangle" region consisting of three world-renowed universities: North Carolina State University, Duke University, and the University of North Carolina at Chapel Hill. Wake County Economic Development offered a quote from outgoing Audemars Piguet CEO François-Henry Bennahmias regarding the new service center: "'When our employees visited Raleigh and the Triang

This week, Audemars Piguet released the Royal Oak Perpetual Calendar Openworked limited edition (reference 26585CM.OO.D301VE.01) in collaboration with Cactus Jack, a music label founded by artist Travis Scott. The Cactus Jack "takeover" of Audemars Piguet's NYC Boutique. It was in this space that the most recent collaboration was released. The timepiece is priced at $201,000 with a 41mm case in brown ceramic. There are various bold design elements at play in this timepiece. For example, the "stitchmarks" on the moonphase complication are an embellishment that evokes the Cactus Jack "Smiley Face" emblem (they're also reminiscent of the animated character Jack Skellington in Tim Burton's movie A Nightmare Before Christmas ). The dial of the AP X Cactus Jack collaboration, note the "smiley face" moonphase and the handwritten style of dial typography. An additional distinguishing design element is the dial's typography. It h