The Product of Time: Looking Into Luxury Watchmakers

There's quite a compelling tension in the journey to creating a timeless timepiece. It's a pursuit that, at face value, seems nearly impossible considering the product is the very thing that would indicate – measure even – its own age. Front and centre, the dial unwittingly countdowns its lifespan.

As our most finite resource, in many ways, time is the ultimate luxury good. To American philosopher and technology historian, Lewis Mumford, the clock is the crux of capitalism. In his 1934 book Technics and Civilization, the clock is cast as the catalyst of "technically civilised life" – “a piece of power machinery whose ‘product’ is seconds and minutes.” The mechanical representation of time made it fungible, and thus transferable. And ever since, the vehicles we trade this good within have become increasingly impressive; things to own, to showcase even — creating a sector with many moving parts.

Watches: The State of The Sector

The luxury watch sector is another that's ticking along amid the shifting priorities of affluent consumers, but with a twist. Traditional high-end brands still dominate, their heritage and craftsmanship keeping them firmly on the wrists of collectors and aficionados. However, the market's rhythm is changing, driven by younger buyers who crave exclusivity and sustainability in equal measure. Vintage models are having a renaissance (see Casio's re-released digital watches to mark the brand's 50 year anniversary), appealing to those who value rarity over flash. Skelotonised watches are seeing a resounding comeback, while many makers turn to brutalism in order to break the conservative mould.

Simultaneously, established marques are grappling with the advancement of tech. Smartwatches have carved out their niche, but instead of competing directly, traditional watchmakers are doubling down on what sets them apart: meticulous craftsmanship, mechanical complexity, and timeless design. Limited editions and bespoke offerings are on the rise, catering to a clientele that values individuality over mass production.

In step, the rise of certified pre-owned platforms is reshaping how luxury timepieces are bought and sold. As the secondary market grows, so does the demand for transparency and authenticity. The result? A sector that’s both respecting its past and embracing new avenues, trying to ensure luxury watches remain a timeless investment.

Surprisingly not on the 'watch as investment' bandwagon, however, is Rolex. In an interview with Swiss media platform NZZ, CEO Jean-Frédéric Dufour is quoted:

"I don’t like it when people compare watches to stocks. It sends the wrong message and is dangerous. We make products, not investments."

Whether other watchmakers agree is up for debate, but what is clear among leading marques is that resting on the laurels of exceptional products is not enough for modern luxurians — even if that product is truly remarkable.

Best In Class Brand Cases: Luxury Watches

VACHERON CONSTANTIN

In 1819, whilst travelling in Turin, François Constantin wrote in a letter the words that would become the cornerstone of his and Jean-Marc Vacheron's watchmaking dynasty: "Do better if possible. And that is always possible."

To this day, that call to action rings true. This year, in anticipation for the Watches & Wonders exhibition and to mark Vacheron Constantin’s anniversary, the maison unveiled the Berkley Grand Complication — the world’s most complex watch design. Few marques still make pocket watches today, let alone hyper-intricate models but with 2,877 components, 245 gems, 63 distinct complications and a weight of an astounding 960 grammes (more than two pounds), this masterwork, crafted in 18k gold, is a feat befitting the brand’s long heritage.

Two months later, in June, they partnered up with another bastion of heritage — Harrod’s — on their Pioneers of the Exceptional exhibition within the famed department store. The installation, which is a part of Harrod’s 175th anniversary celebration, is an immersive virtual reality experience that allows guests to discover the wonders of watchmaking, fused with Harrod's reputation for innovation and prestige. Found on the fifth level, this cutting-edge multi-sensory VR experience “places each guests as the protagonist in a surreal and exciting adventure, exploring hidden corners of Harrod’s and the masterful craft of Vacheron Constantin”, through immersive elements including scent, sound, wind and temperature.

RICHARD MILLE

Beyond research and development divisions, some brands exist only to create novel products. When it comes to working with other sectors to introduce new materials and intricacies into traditional watchmaking, Richard Mille is leading the way.

From the 2001 original RM 001 to the 2017 RM 50-03, the company has continuously looked to the future to better the watches of today, drawing inspiration from the automotive, aeronautical, and sailing sectors.

Richard Mille, the University of Manchester, and McLaren Applied Technologies collaborated to create the RM-50-03, the lightest mechanical chronograph watch in the world. Made from graphene, it weighs only 40g, strap included. With every model so unique, and many rare, these performance-oriented timepieces are worn by professional athletes across every discipline, including Bubba Watson, Yohan Blake, and Rafael Nadal.

It’s unsurprising then that Mille tapped into the Olympic fever, especially in step with the hard luxury tint to the LVMH-sponsored Paris Games, with the launch of 'Beyond Success'. A campaign tracking the buildup to the world's most prestigious sporting event by showcasing four Olympians (and friends of Richard Mille) "whose inspirational stories will continue to resonate long after the competition fades away."

ROLEX

Sustainability has become a non-negotiable aspect of luxury, with brands increasingly sourcing ethical materials and adopting eco-friendly practices. Consumers are more informed and discerning, pushing the industry toward greater environmental responsibility. The luxury watch sector, once seen as a symbol of status alone, is now equally a statement of values and taste, evolving yet remaining true to its essence.

Alongside Rolex’s position on watches not being an investment, the brand takes an equally strong stance on sustainability, diversity and innovation through their Awards for Enterprise — supporting individuals with projects that improve life on the planet, expand knowledge, propose solutions to major challenges or preserve our natural and cultural heritage for future generations.

The Awards began in 1976 to commemorate the 50th anniversary of the Rolex Oyster, the first waterproof watch and an important milestone in watchmaking, underpinning Rolex’s values of quality, ingenuity, determination and enterprising spirit.

JAEGER LE-COULTRE

Asking the question “what does sound look like?”, in 2023, Jaeger Le-Coultre partnered with multi-hyphenate Tokio Myers on a unique show in London’s 1931 Cinema, set in the newly restored Battersea Power Station.

The Swiss watchmaker commission Myers for an original soundtrack to accompany a one-of-a-kind sound and light show where music and mathematics come together in celebration of the golden ratio — a guiding formula for beauty.

The proportions of Jaeger Le-Coultre’s original Reverso wristwatch, introduced in 1931 during the height of the Art Deco movement, were determined by the golden ratio, a traditional symbol of harmony and beauty established by early mathematicians such as Euclid and Pythagoras (c. 300 BC).

The 10-minute show celebrated the formula's connection to the age-old principle of beauty by following its journey from observations in nature to its impact on European cultural history — culminating with representations of inside the iconic Reverso watch. All of which was backdropped by an impressively large wall of falling water for added effect, and Myers’ bespoke score.