It could have been worse. Last year, Swiss watch companies eliminated “only” 4,200 jobs, compared with the more than 5,000 that some officials had predicted. Employment is now 49,097, a decline of 7.9% from 2008, and nearly the same as in 2007. Manufacturing jobs were hardest hit, declining 9.8%, to 36,275.

These figures come from the Convention Patronale de l’Industrie Horlogère Suisse (CP), an organization that represents Swiss-watch-industry employers. Twenty Swiss-watch companies went out of business last year, meaning a decline of 3.2% in the total number.

Because 2008 was a record year for employment, it could be argued that a drop of 8% from that level wasn’t really that bad: despite the decline, employment last year was at its second-highest level in 30 years. Over the past five years, the industry has had a net gain in jobs of nearly 23%.

The number of Swiss-watch-industry apprentices actually increased last year, by 36, a 3.7% gain over 2008, the CP said.

More good news, kind of, came from the Federation of the Swiss Watch Industry. Exports of Swiss watches to the world’s top 30 watch markets grew 19.7% in the first six months of this year over the same, admittedly dismal, period in 2009, when they fell 26.4%. For the month of June alone, they were up 35%.

The value of Swiss watch exports for the six months was 7.30 billion Swiss francs ($6.95 billion). Despite the gain, Swiss watch exports were still 11.9% lower than in 2008. Hong Kong remained the top market for Swiss watches (it’s the entry port for watches destined for much of Southeast Asia), and had a gain of 37.9%. Exports to the United States, the second-biggest market, grew 12.5% (30.6% for June alone) to SF757.7 million, or $721.6 million (this is a whopping 36.2% lower than the figure for the first six months of 2008). Mainland China lived up to its reputation as a red-hot luxury-goods market, posting an increase of 90.6%. It was the fourth-largest customer for Swiss watches, right behind France, buying SF482.7 million ($459.7 million) worth of them during the six months. Among the top 30 markets, only the Czech Republic, number 29, showed a bigger increase: 302.7%. Among the top 10 markets, Japan (#7) and Germany (#8) were the only ones to show decreases, of 8.6% and 5.3%, respectively.

Source: Federation of the Swiss Watch Industry (.pdf format)

The Timex Group’s grand foray into the high reaches of the luxury mechanical watch market is ending. Swiss media are reporting that Timex is shutting Vincent Bérard S.A., the La Chaux-de-Fonds-based manufacturer of luxury mechanical watches, that it acquired in 2006. While neither Timex nor the Vincent Bérard firm has made any official announcement, sources close to Timex have confirmed to WatchTime that the Swiss reports are true.

Vincent Bérard, from a 2007 WatchTime feature.

The Vincent Bérard firm was founded in 2003 by Bérard, a French watchmaker and antique watch restorer who had worked in Switzerland for nearly 30 years. He launched his own brand in 2005 and began producing large carriage-style pocket watches. The next year, in a surprise move, the Timex Group acquired the firm, housed in a small atelier in a farmhouse in La Chaux-de-Fonds. At the time, Timex was in the process of transforming itself from the legendary king of the mass market into a multi-brand watch group active in all price segments. Vincent Bérard gave Timex a foothold in the then-booming luxury mechanical watch market. Timex invested in the firm, expanding the atelier and hiring staff. The next year, the first collection of Vincent Bérard wristwatches appeared. Bérard produced about 100 pieces per year, priced between $70,000 to $150,000.

Two of Bérard’s Quatre Saisons pocket watches. Below, Vincent Bérard’s home and atelier.

Three years later the Bérard brand is the latest watch casualty of the global financial crisis. The La Chaux-de-Fonds newspapers L’Impartial and Le Matin as well as RTN (Radio Télévision Neuchâtel) have reported that the manufacture will close and its 20 employees, including Bérard and CEO Herbert Gautschi, will be laid off. Unia, Switzerland’s largest union, confirmed the news the week of July 5. Loïc Dobler, a Unia representative, told L’Impartial that he was in discussions with Timex about terms of the employee terminations.

The Bérard firm was known to be struggling. In June, Daniel Dodane, a member of the Vincent Bérard board of directors, told the Swiss watch Web site World Tempus, “The financial crisis and the economic decline have prevented our group from achieving the sales necessary to make a profit. As a result, the company has not reached our commercial objectives and the losses are significant.” (Dodane is deputy managing director of Opex S.A., a French watch company owned by Timex and is the only Timex executive authorized to talk about the Vincent Bérard situation.)

Still, news that Timex was pulling the plug on the brand seemed to catch employees by surprise. In June, for example, CEO Gautschi attended the Couture jewelry and watch trade show in Las Vegas, manning a Vincent Bérard booth, and hoping to open new accounts in the United States. RTN reported that the employees were devoted to the company and were hoping to find a buyer for the brand. If they don’t, Vincent Bérard will join the list of brands like Villemont and Wyler Genève that are casualties of the Great Recession.

At Baselworld, a small group of watch publications, including WatchTime – the only U.S. representative, was granted an interview with Dr. George Daniels, the legendary British watchmaker and creator of the co-axial escapement. At 84, Daniels still plies his trade, developing technology for Omega and creating his own watches, most recently with his former apprentice, British watchmaker Roger Smith. What follows are excerpts from the interview.

Q: Did you ever foresee that your idea, the co-axial escapement, would become the heart of a major brand [Omega], as it is today?
A: I always hoped so, because it was the result of a great deal of hard work over many years.

Q: As an English watchmaker, do you take any particular pride in creating an escapement that has been so significant in the Swiss watch industry?
A: It shouldn’t surprise that it’s an English invention. The English have always been concerned with timekeeping because they’re surrounded by water, and they have to navigate. To do this, they need accurate timekeepers, and the most accurate timekeepers were invented by the English. We’re very proud of that and we try to keep up the tradition. My duty is to make sure that expertise doesn’t [fade away]; it’s got to increase. I am concerned not with watchmaking but with horology, which is a specific type of timekeeping, and with chronometry. The people who worked in the early days of the development of mechanical timekeeping were all artists as well as inventors, and many were born in Britain, I’m pleased to say.

Q: Do you still make watches under your own name with the co-axial escapement?
A: Of course, and I use only co-axial escapements in them. It makes all other escapements old-fashioned. I have also invented two other escapements that are now coming onto the market, so there should be plenty of horological activity in the next 10 years.

A Daniels wristwatch

Q: Do you see any British watchmakers today who are particularly inventive, or looking toward the future as you did with your invention?
A: It’s always a short list but there are several young men who are brilliant. And they are carrying on the tradition of British watchmaking. So there is an obvious future, but how [large a role they will have in the watch world], we don’t know.

Q: As one of the most famous British watchmakers, what have you done to keep the tradition alive in your country?
A: Well I invented three new escapements and 105 watches, all without any assistance. Now we have a new young team coming on, and I think they will do great things. We [the British] haven’t done too badly.

A Daniels pocketwatch

Q: What can you tell us about these two new escapements?
A: They are conceived essentially to run without lubrication, because lubricant is very bad for the escapement. It’s all about progress. I’ve been wearing this watch [shows the watch on his wrist], with the co-axial, for 20 years. I have a Patek Philippe, even thinner than this, that I fitted with it 35 years ago, and it’s still working perfectly. The only thing that’s worn out is the winding gear. I call that progress. I’ve stayed in horology because I wanted to see progress and I am getting what I want.

Q: Do you believe that innovations and new technologies like silicon can bring something to watchmaking?
A: I don’t believe they’re necessary, no. There is no evidence that they are. Clocks and watches have been made of brass and steel for a thousand years, and they’re still running perfectly. We don’t need these things. I don’t accept these materials as being the least bit useful in haute horologie. In fact, you only have to look at the drawings, see the shapes of the components and how they engage with each other and you’ll realize that they [will not last] for long periods. Of course, manufacturers use such materials to improve the performance of a watch, but it doesn’t matter how much attention you give [to the material], if the escapement doesn’t work without lubricant, it isn’t going to get you anywhere at all. You might as well stay with the old-fashioned.

Q: Aside from your own inventions, do you feel there has been anything developed in horology since your career started that has improved the art of making watches?
A: It depends on the date… there are tourbillon watches that will keep better time than non-tourbillon watches. But here I’m talking about pocketwatches. Tourbillons in wristwatches aren’t very useful for anything, really. [The accuracy is] all dependent on the hairspring and the escapement. Breguet invented the tourbillon, and you can’t criticize him, because Breguet was a genius.

Q: Are there other inventions that you would still like to develop for the watch industry?
A: I think I’m a broken reed, a spent force; I can’t think of anything new to invent. It’s a very tight field and it’s not easy to think of new ideas. One always tries, of course. My chronograph is one of the novelties this year; it’s very simple. It works well, but it’s not significant. The real question is, how does one now amuse oneself?

Q: What are your opinions on some of the modern, innovative but odd timepieces, some of which don’t actually show the time? Are they watches or just machines?
A: I’ve never really thought about it. I don’t know, really. If it keeps time, it’s a watch, I suppose. Congratulations… that’s a question I’ve never heard before. I’ll have to give it some thought.

Inside Basel/Geneva 2010 kicked off with two West Coast shows that played to full houses as collectors and enthusiasts came out to see the newest watches and to meet the record number of exhibiting brands. Don’t forget that the Miami show is July 14. There are still a few tickets left, so check out the West Coast shows in this article, then head over to the sign-up page and come on down!

The evenings begin with cocktail receptions where guests can try on the latest models from the Baselworld and SIHH shows. This is better than the Swiss shows, where the watches are locked away in polished glass cases. As you’ll see below, the receptions have a great “watch fair” vibe. The rooms are filled with collectors and enthusiasts, plus hundreds of fine timepieces – more top-end pieces than you’ll see at any retailer. Indeed many of the watches at the Inside Basel/Geneva shows are not even in the stores yet. And because manufacturer execs are on hand, you can get expert information and advise. At the end of this article, you’ll find a link to video shot in Los Angeles, giving you a better feel for what the shows are really like.

Following cocktails, its off to dinner and Jeff Kingston’s presentation. This year Jeff cover 42 brands, 25% of which were not included last year. Of course, all of the watches covered this year are new. Jeff makes a special effort to include some of the wildest, most over-the-top pieces, some of which we guarantee you have not seen before. All of this is presented via great still images and HD video, and this year Jeff has video of some of the most complicated watches “doing their thing”. Other videos were shot in the manufacturers’ workshops so you can see their work firsthand.

Don’t forget that the Miami show is July 14! Click here to learn more, and to sign up. You can also click here to see which brands will be exhibiting at each show.

After Miami, we present three shows in September:

- September 14 – New York
- September 16 – Philadelphia
- September 29 – Chicago

You may use the link above to reserve your spot at the September shows.

And now, a look at Inside Basel/Geneva 2010 Los Angeles and San Francisco. You may click the images to view larger versions.

WatchTime editor in chief Joe Thompson talks with a guest.

Joe and WatchTime Publisher Wolfgang Blum with guests.

Our luxurious venues – Riviera Country Club…

…and the San Francisco City Club

Guests chat with Antiquorum auctioneer and Antiques Roadshow regular Charles Tearle.

Guests meet watchmaker Peter Speake-Marin.

Click here to go to the next page, as guests head for the tables to try on the newest watches and meet brand executives…

How much do you know about self-winding watches, past and present? Sharpen your pencil and set that cerebral rotor a’spinning. Answers, as usual, appear at the end.

1. Which of the following automatic watches was launched first?
A. Zenith El Primero
B. Eterna EternaMatic
C. Rolex Perpetual
D. Omega Centenary

2. Which watchmaker is widely believed to be the inventor of the automatic winding system in use today?
A. George Graham
B. John Harrison
C. Louis Cotter
D. Abraham-Louis Perrelet

3. Which company makes what are often called “clones,” i.e., near copies, of ETA’s most popular automatic movements?
A. Sellita
B. APRP
C. Dubois Dépraz
D. Ronda

4. Which watch has a self-winding system with a linear oscillating weight rather than a rotor?
A. TAG Heuer Monaco V4
B. TAG Heuer Pendulum
C. DeWitt Academia
D. Parmigiani Bugatti

5. Which of the following Rolex watches is NOT an automatic?
A. Air King
B. Datejust
C. Cellini Prince
D. None of the above. They are all automatics.

6. Which two companies were the first to introduce automatic watches with microrotors?
A. Hamilton and Breitling
B. Buren and Universal Genève
C. Heuer and Omega
D. Leonidas and Movado

7. When did the first Japanese-made automatic watch come out?
A. 1935
B. 1942
C. 1950
D. 1956

8. An unusual feature of Carl F. Bucherer’s in-house, self-winding Caliber CFB A 1000 is its
A. Two winding rotors
B. Rotor made of synthetic sapphire
C. Rotor that moves around the periphery of the movement
D. Rotor more than twice the normal thickness

9. What company uses the Magic Lever in its automatic winding system?
A. Seiko
B. Montblanc
C. Rolex
D. Patek Philippe

10. Who was John Harwood?
A. The Aegler engineer who designed the Perpetual movement
B. The ETA engineer who designed the 7750
C. The inventor of bi-directional winding
D. None of the above

11. Which of the following was an early automatic wristwatch?
A. The Zig-Zag
B. The Wig-Wag
C. The Autorist
D. B and C

12. Which two automatic-winding-related events occurred in 1948?
A. The patent on Rolex’s Perpetual winding system expired.
B. Eterna doubled the efficiency of the winding system then in widespread use.
C. LeCoultre introduced the first series-produced wristwatch movement with power-reserve indicator.
D. A and C
E. A and B
F. B and C

ANSWERS:

1. C. The Rolex Perpetual was introduced in 1931. Developed by Rolex’s then-movement-supplier Aegler, it incorporated the most effective and trouble-free winding system ever devised, consisting of a rotor mounted on the back of the movement that winds the mainspring as it spins around its axis. The same principle is used in nearly all automatic watches today. The Zenith El Primero, an automatic chronograph, came out in 1960. The EternaMatic came out in 1948. The Omega Centenary was also introduced in 1948, which was Omega’s centennial year.

2. D. The Swiss watchmaker Abraham-Louis Perrelet is widely believed to have made the first self-winding watch, in or around 1770. He actually made two types of automatic systems during his long career (he died in 1826 at age 97, and worked until at least age 95). One was the type we know today, with a rotor spinning around a center pivot. The other worked by means a weight that moved to and fro.

3. A. The company makes movements that are interchangeable with, and very similar (although not identical) to ETA movements whose designs are now in the public domain. These are the SW 200-1 (meant as a replacement for the ETA 2824-2), the SW 300 (for the ETA 2892) and the SW 500 (for the ETA 7750).

4. A. The TAG Heuer Monaco V4 is wound by means of a 4.25-gram platinum ingot that moves up and down a track between the four spring barrels.

5. C. The Rolex Cellini Prince, introduced in 2005 and modeled on the Rolex Prince launched in 1928, has a rectangular, hand-wound movement visible through the caseback.

6. B. During the 1950s, watch companies were eager to bring out automatic movements that were fashionably slim (a standard, full-sized winding rotor, which sits atop a movement, adds thickness). Both Buren and Universal Genève patented winding devices that used “microrotors,” small rotors that were set into the movement rather than on top of it, and hence did not add to the movement’s height. Buren did so first, in 1954. The company incorporated it in its Super Slender line in 1957. Universal Genève did not apply for its patent until 1955, but that year, before the patent had been granted, incorporated a microrotor device into its Polerouter watch. (The first Polerouter, which came out in 1954, had a “bumper” type of winding device incorporating a weight that moved back and forth.)

7. D. It was Seiko that brought out the first Japanese automatic watch. That the company lagged far behind the Swiss industry in making self-winding watches was due mostly to World War II and the Second Sino-Japanese War that preceded it. During the war years, the company shifted production from civilian wristwatches to war materiel. In addition, imports of foreign-made watches stopped almost entirely, so the domestic industry had no incentive to improve and update its products.

8. C. The CFB A 1000 is wound by means of an arc-shaped weight that moves around the edge of the movement. Its main advantage is that, unlike a traditional rotor, it allows a view of the entire movement.

9. A. The Magic Lever is a two-armed device that drives a winding wheel in one direction, by either pushing it or pulling it, depending on which direction the winding rotor is turning. Seiko engineer Tsuneya Nakamura invented the Magic Lever in 1959 (he later became president of Seiko Epson). The Magic Lever is still used by Seiko today.

10. D. John Harwood was a British watchmaker who, in the 1920s, resurrected the 18th-century concept of the winding rotor and applied it for the first time to a wristwatch. Harwood, who fought in World War I, was inspired to design a self-winding watch when he observed the damage done to soldiers’ watches by dirt entering the cases through the crown-stem hole. The watch he designed needed a crown for neither winding nor setting; the latter was done via the bezel. The design, which he licensed to several companies, was not a success for technical and other reasons, and Harwood went out of business.

11. D. The Wig-Wag movement, introduced in 1931 by a company called La Champagne, served as its own winding weight: the entire movement slid back and forth within a frame. The Autorist, which also came out in 1931, was also an oddity: it was wound by means of the watch lugs, which were tugged on by the strap when the wearer moved his wrist.

12. D. The expiration of the patent for the Perpetual winding system in 1948 brought on a flood of new automatic watches designed on the same principle. Also that year, Jaeger-LeCoultre brought out its Powermatic, an automatic with a power-reserve indicator in the form of an arc-shaped aperture at 12 o’clock. It was the first production-model wristwatch with such an indicator, although Breguet had made a one-of-a-kind power-reserve watch in 1933.

The watch world calendar year kicks off with the SIHH and Baselworld spectacles, where the great majority of new releases or “novelties” are introduced to the press and the public. The early summer watch and jewelry shows in Las Vegas – JCK and Couture – typically pale in comparison, at least when it comes to new watch introductions. But that is not always the case.

Occasionally, a watch that either wasn’t ready in time for Basel or Geneva — or whose maker for whatever reason did not attend either show — will debut to the watch press in Sin City. Such is the case with Bovet’s newest limited-edition haute horlogerie piece commemorating the 80th anniversary of the prestigious Italian design firm Pininfarina. Founded in 1930 by automobile designer Battista “Pinin” Farina, the firm, based in Turin and today headed by Battista’s grandson Paolo Pininfarina, is well known to car enthusiasts. The classic and modern automobiles it has designed include the Alfa Romeo Spider, Maserati GranTurismo, Cadillac Allante, Volvo P70 and numerous coveted Ferraris, including the 612 Scaglietti, the 550 Maranello and the new California.

Bovet owner Pascal Raffy and his watchmaking team in Fleurier, Switzerland, collaborated with Paolo Pininfarina on the watch, which marries some of the Italian company’s signature design elements with those of the watch brand, which is known for its pocketwatch-like crowns at 12 o’clock. The result is the Bovet Tourbillon Ottanta by Pininfarina, of which only 80 pieces (and only 80 movements) will be made.

The watch is powered by a rarity: an automatic movement with a tourbillon. The movement, Calibre 16BA01, has 514 total components and uses an off-center, bidirectional microrotor milled from a single block of platinum. The tourbillon also has a feature never before seen: instead of making its revolution in the typical 60 seconds, it makes it in 80 seconds, a technological feat that is a nod to the 80 years of Pininfarina. To accomplish this, Bovet’s engineers created an intersection in the going train, effectively dividing it into two separate reduction trains after the third wheel, one of which transmits energy to the seconds crown and the other to the tourbillon cage. The latter showcases a hand that traverses points representing eight decades in Pininfarina’s history rather than counting off the seconds per minute. A lacquered crown at 3 o’clock, concentric with the tourbillon cage, indicates the seconds.

The Tourbillon Ottanta also incorporates one of Bovet’s newer developments: its 46-mm case — made of brushed titanium and steel with black DLC — is in the brand’s Amadeo style, which means the case can be rotated to show either the “dial side” or “movement side” in the front. (The case is also available with a bezel and caseback in white or rose gold.) The dial side displays hours and minutes by central hands and has a power reserve indicator at 9 o’clock and a big date display, made up of two concentric disks, at 6 o’clock. An instantaneous date-change system was developed specially for this watch. The movement side offers a view of the microrotor as well as a subdial at 12 o’clock with a single hand that indicates hours, half-hours and quarter hours, in the style of some of the earliest pocketwatches. The moving tourbillon cage is easily visible from both sides.

Pininfarina’s influence is notable in the monochromatic gray/anthracite color scheme; in the eight engraved phrases (each reflecting one decade) on the case’s middle section, expressing Pininfarina’s design philosophies; and in the “alcantara-style” velour lining inside the rubber strap, which evokes the luxurious feel of a Ferrari’s interior leather. There is no shortage of other decorative elements, either, including clous de Paris patterns on the bridges of the tourbillon cage as well as sandblasted, chamfered and hand-polished surfaces and circular graining on various elements throughout the movement. Screws, the power reserve hand, and the balance are in a blue PVD that matches the color of the Pininfarina logo. The rim of the balance wheel evokes the shape of an “8” inside a ring representing a “0” — another nod to the anniversary, as is the 80-hour power reserve offered by the two barrels.

The other feature of the Amadeo case is that the wristwatch easily converts into a pocketwatch or freestanding miniature table clock. The wearer simply presses the two pieces on either side of the bow above the winding crown to release the upper section of the strap, and then uses a minute-repeater-like slide to release the lower section. Atitanium chain that comes with the watch can be attached to the upper part for use as a pocketwatch and the pivoting lower bezel at 6 o’clock forms a stable support for use as a clock. No tools are necessary, and the straps can be just as easily replaced

With two faces on the reversible case and the two additional formats, Bovet claims, the Tourbillon Ottanta can be regarded as four timepieces in one — which is good, because only a few of these watches will make it to U.S. shores, and at a price of around $300,000, they are likely to become as exclusive as some of the classic sportscars on which Pininfarina made its name.

Results for the fiscal year ended March 31 show that watch sales at Japan’s Big Three watch firms slumped for the second consecutive year as the Great Recession continued to suppress demand for mid-priced watches. Nevertheless, the watch divisions at Citizen, Seiko and Casio remained profitable. For the companies as a whole, only the Citizen Group reported a profit for year; Seiko and Casio both reported losses.

In the watch divisions, the hardest hit was Seiko, maker of Seiko, Pulsar, Alba and licensed brand watches; watch sales fell 31 percent to 64.5 billion yen ($693 million) for the fiscal year. Two years ago, Seiko’s watch sales totaled ¥117.2 billion. Since then, they have fallen a staggering 45%. Seiko now ranks third among the Big Three in terms of watch revenue. Seiko Holdings Corp. said operating income at its Seiko Watch Corp. subsidiary increased 38 percent to ¥2.2 billion ($23.6 million). Unlike Citizen and Casio, Seiko Holdings issued no statement discussing the financial results.

Watch and clock sales at Citizen Watch Co. fell 6.7 percent in the fiscal year to ¥123.6 billion ($1.33 billion). Regarding the Japanese market, Citizen said in a statement that “the slow recovery in consumption and other factors under prevailing economic conditions made for an exceedingly difficult sales environment especially for premium-priced products for the first three quarters of the year.” Overseas, sales in Asia, particularly China, were robust and far ahead of the previous year, Citizen said. “In the North American market, the largest for this business, difficult conditions continued through the first half, but gave way to a faster-than-expected market recovery in the second half and sales growth for Eco-Drive and other high value added products,” Citizen said. Citizen said sales at its Bulova Corp. subsidiary in the United States dropped for the year, although Bulova posted stronger second half sales “due to increased sales of mechanical watches and other differentiated products.”

Operating profit in Citizen’s watch and clock segment rose 7.1 percent to ¥9.7 billion ($104.2 million).

Sales of Casio Computer Company’s timepiece division fell just 2.8 percent to ¥78.1 billion yen ($839 million). “Sales of non-radio-controlled watches were affected by the harsh market environment in the first half,” Casio said in a statement, “but sales of radio-controlled watches were strong, particularly Casio’s high-value-added brands such as G-Shock, Oceanus, and Edifice.” Casio does not disclose the operating income of its timepiece division. Its overall electronics segment, which includes timepieces, reported a ¥19.9 billion loss ($213.8 million). However, Casio noted that timepieces “remained highly profitable.”

Watches represent only a portion of the sales of all three firms. At Citizen and Casio, watches outperformed other divisions. Net sales for Citizen Holding Co. Ltd. dropped 14.9 percent to ¥252.5 billion ($2.71 billion). Net income for the Citizen Group remained stable at ¥3.5 billion ($37.6 million).

Net sales for Casio as a whole dropped 17.4 percent to ¥427.9 ($4.60 billion). For the year, Casio reported a loss of ¥21.0 billion ($226.0 million). Casio said the primary cause of the loss was a sharp decline in sales of cellular phones.

Net sales at Seiko Holdings Corp. increased 33% to ¥230.7 billion ($2.48 billion). The increase, however, is due entirely to a reorganization of the Seiko Group in October that made Seiko Instruments Inc., one of the group’s two major manufacturing units, a subsidiary of Seiko Holdings. SII added ¥85.0 billion ($913.6 million) to Seiko Holdings sales. Without SII, Seiko Holding sales would have declined by 16 percent for the year. Seiko Holdings reported a net loss for the year of ¥3.6 billion ($39 million).

Big Three Watch Sales 2006-2010
(billion yen)

Source: Citizen, Casio, Seiko

Here’s another test of your watchspotting skills. We’ve lined up 15 watches, covered more or less (mostly more) by a shirt cuff. Your task is to identify as many as you can. They start out easy, but they get tougher as you progress. As always, the answers appear at the bottom. Good luck!

Enthusiasts and collectors know Michel Parmigiani’s eponymous Fleurier-based brand. Less well known is his work as a master restorer of historical treasures. Trusted by leading collectors and museums, the Parmigiani atelier brings wonders from the past back to life, employing wide-ranging skills, and a bit of sleuthing.

Roots in the Past

The Parmigiani timepieces we know today are born from Michel Parmigiani’s fascination with master craftsmen of the past and the masterpieces they created. Beginning in the late ‘70s, leading Swiss collectors, then Ephrem Jobin, the first curator of Château des Monts, retained Parmigiani to restore their important pieces. Parmigiani would go on to collaborate with the Patek Philippe Museum in Geneva, the Museum of Decorative Arts in Paris, Milan’s Castello Sforzesco, and the Palazzo Falson in Malta, among others. At the end of Jobin’s career, he entrusted Parmigiani with the ongoing restoration of the Maurice-Yves Sandoz collection. This allowed Parmigiani daily access to historical treasures, and provided the chance to meet Pierre Landolt, Chairman of the Sandoz Family Foundation, whose trust marked the beginnings of a watchmaking adventure and ultimately to the creation of the Parmigiani brand in 1996.

Parmigiani’s Fleurier Headquarters

Study, Skill, Detection

Restoration is a multi-step process: a series of encounters with the object, and with its past. Before craftsmen set a finger on the piece, they immerse themselves in the know-how of the period when the piece was created. A completely faithful restoration requires mastering a range of skills relating both to the decorative exterior and to the complex mechanical workings of the piece. Restoring the visible outer aspects may involve several arts, including goldsmithing, enameling, chisel engraving, stone setting, gilding, and glassworking.

Engraving and enameling work being done on Parmigiani’s Fibonacci Watch

The restorers must also understand completely the methods employed by the watchmaker in creating the mechanism. This requires in-depth research. If the piece is unsigned or unattributed, the restorer must visit museums to track down related pieces that might provide helpful indications. When parts are missing, the restorer plays Sherlock Holmes, applying logic and psychology: how should the part be shaped? From which material is it made? How would the original creator have finished it? Often the restorer searches the piece for clues, for example detecting traces left by friction from a now-missing wheel.

A restorer works on a Perrin Frères-signed pocket watch

Conservation

Depending on a piece’s state of conservation, substantial time may be spent patiently cleaning it. Oxidation often prevents the movement from working properly. In this case, a meticulous process of rust removal and polishing begins. The “Perrin Frères” signed watch (below) is a good example. The bells, posts, mobile stars, pinions, springs and index adjuster all had to undergo complete rust removal treatment.

On the Fabergé Peacock Egg shown below, Parmigiani’s recently-completed restoration enables the automaton to work harmoniously once more: the peacock moves on its two legs, and fans out its tail feathers as it goes round. Retouching the enamel also brought back a forgotten shine.

On occasion, prior unprofessional restoration efforts cause more damage than the ravages of time. In the case of the “La Cueillette des cerises” pocket watch, prior work included soft-soldering several components, causing irreversible oxidation of the steel.

The “La Cueillette des cerises” pocket watch, returned to its former glory.

Sometimes modern technology assists the restorers. The Yousoupoff Egg (below), an enamelled clock with rotating ring made in the workshops of Carl Fabergé, provides an example. Restorers used 3D computer renderings to recreate several broken components that were still present in its mechanism.

Reconstruction

During reconstruction, pieces must be replaced in the order in which they were removed. To achieve this, a complete written and photographic dossier traces all steps in the restoration, carefully differentiating reconstructed parts from originals.

Modern Delights

At Parmigiani, they say that restoration is the soul of the brand. The company incorporates expressions of the past into their modern timepieces, some of which are created in the old world style. In 1996, Parmigiani created the Fibonacci savonnette watch in honor of of the great mathematician of the Middle Ages. The case is inspired by the art forms the company’s restorers work with on a daily basis: engraving, translucent grand feu enamel, and set precious stones. The movement incorporates a minute repeater and a perpetual calendar.

Watchmaking has its own mini-language: a set of French terms with specific horological definitions. Match the following words with their meanings. The answers appear at the bottom in the form of 3-C, 5-G, etc. (To find out how to pronounce these words, see Part 2 of our Pronunciation Guide in the WatchTime.com “Reference Center” section.)

1. guilloché
2. rattrapante
3. anglage
4. ébauche
5. sonnerie
6. ligne
7. tourbillon
8. monopoussoir
9. remontoir
10. carré
11. chablon
12. chaton
13. foudroyante
14. perlage
15. reglage

Here are your definitions:

A. Square, used to describe square watch cases

B. A movement blank, i.e., a movement without its balance, escapement or mainspring. Translates literally as “rough draft” or “outline.”

C. Device consisting of an escapement enclosed within a tiny rotating cage. Its purpose is to eliminate timing errors caused by the effects of gravity on a watch’s balance. Translates literally as “whirlwind.”

D. A ring, often made of gold, in which a watch jewel bearing is set. Its literal translation, “kitten,” has no apparent connection to its horological meaning.

E. Winding mechanism

F. Engine-turning, a technique for decorating a metal surface, often a watch dial, using a machine called a “rose engine.”

G. Chronograph operated by a single button rather than the standard two.

H. A split seconds chronograph, i.e., a chronograph with two superimposed chronograph seconds that can be used to time simultaneous or consecutive events. At the end of the first event, the watch-wearer stops one of the seconds hands; the other continues running. After he records the first time, he pushes the chrono button and the stopped hand jumps forward to catch up with the other seconds hand. The word translates literally as “to overtake” or “to recover.”

I. A set of unassembled watch-movement components.

J. A chronograph seconds hand that rotates faster than the standard one rotation per minute. Some such hands are contained in a subdial, and rotate once per second. Others rotate around the main dial once every 10 seconds. Translates literally as “lightning,” as in “lightning quick.”

K. Chiming mechanism that sounds either on demand, when a button or lever is pushed, or automatically at certain intervals of time (such as hourly) or at a preset time

L. Beveling (used on the edges of many plates, bridges and other movement components)

M. A decorative finish consisting of small circles

N. A unit of measurement used to denote watch-movement diameters. It is equal to 2.256 millimeters.

O. A watch-manufacturing operation in which the movement’s rate is corrected to obtain acceptable precision