When the news spread on the second day of the fair that under President Trump, the US was planning to impose 31% tariffs on goods from Switzerland, a murmur went through the bustling corridors of the Palexpo exhibition centre in Geneva. But nobody wanted to let the mood be spoiled by the news – at least, they didn’t want to show it. People chattered away, new products were proudly displayed, and visitors duly marvelled at them. And other figures give cause for hope in times when new negative geopolitical developments are shaking up markets almost daily. Watches & Wonders 2025 reported a 12% increase in visitor numbers compared to the previous year. A total of 55,000 watch enthusiasts, journalists, retailers and end consumers were counted this year, who were able to visit the exhibition stands on Saturday, Sunday and Monday during Public Day for 70 Swiss francs. Of the 55,000, 23,000 were end consumers, 21% more than last year. Thus, there is a growing interest in (predominantly) mechanical watches. That’s encouraging! And, apart from the occasional long queue at the exhibition stands, attendees were not disappointed. We had the opportunity to take a look at the latest products from Patek, Rolex, Vacheron and co. in the days before the show and discovered several highlights and trends – and no fewer than four world records.
Chiming around every corner
It should be noted from the outset, this highlight article will focus on the models that we have actually seen ourselves. With 60 participating brands, it was simply not possible to visit all the stands, so please forgive us if not all the models have found their way into this trade fair recap.
Parmigiani L’Armoriale Répétition Mystérieuse
If you managed to find your way into a quiet presentation room last week, you could hear the fine sound of the repeater mechanism in many brands’ showrooms. We have seen – and heard – an astonishing number of minute repeater watches this year. A. Lange & Söhne has combined this for the first time with a perpetual calendar, which only a handful of brands have managed to do so far. The new L122.2 manufacture calibre – and now already the 75th of its own Lange movements in just over 30 years – was equipped with a so-called ‘silent suspension’, so that there is no pause between the hour and minute strikes if the number of minutes is less than 15 and the double strike for the quarters is therefore absent. A centrifugal governor, clearly visible in the movement, rotates at a speed of over 2,000 revolutions per minute when the striking mechanism is running and ensures that the repeater runs more evenly. The new movement took around 4.5 years to develop, which is surprisingly quick considering its complexity. However, Lange already has both a perpetual calendar and a minute repeater, and has thus already created the movement basics.
A. Lange & Söhne Minute Repeater Perpetual
Jaeger-LeCoultre, the self-proclaimed ‘watchmaker to the watchmakers’, has a much longer history of manufacturing minute repeaters. As early as 1870, the company produced the first pocket watch with a minute repeater. In 1994, the watchmakers were then faced with the challenge of integrating the complication into a rectangular case without compromising the sound quality. This was because the classic Reverso case offered less space for the sound box (which amplifies and resonates the sound). A completely new movement construction was needed. Jaeger-LeCoultre has repeatedly presented innovative solutions to improve sound quality. Notable advances include crystal gongs (2005) for greater clarity and volume, Trébuchet hammers (2009) for efficient striking and the elimination of silent intervals in repeater watches (2021). Now, Jaeger-LeCoultre has set another milestone in its long history of minute repeaters with the new Reverso Tribute Minute Repeater at Watches & Wonders. It is equipped with the new in-house calibre 953 and has a power reserve of 48 hours, an impressive achievement for a minute repeater, which is quite energy-hungry.
Jaeger-LeCoultre Reverso Tribute Minute Repeater
We also discovered minute repeater watches by Chronoswiss, Parmigiani and Chopard.
A. Lange & Söhne Minute Repeater Perpetual, Jaeger-LeCoultre Reverso Tribute Minute Repeater, Chronoswiss Q-Repeater, Chopard L.U.C. Full Strike Revelation
Perpetual calendar
This complication is becoming more complex in many models, even where you would not necessarily expect it. In addition to the minute repeaters, an astonishing number of models with perpetual calendars were on display. Panerai presented the Luminor Perpetual Calendar GMT Platinumtech, a variant in which the displays for the month, year and leap year are located on the back of the case. IWC is equipping its Ingenieur with a perpetual calendar for the first time. This is not unusual, of course, for the Schaffhausen-based brand, for which watchmaking legend Kurt Klaus revolutionised the complication in the 1980s. However, the Ingenieur has so far got by as a sports watch with rather simple functions. We find the step consistent and, in any case, gratifying, that the Ingenieur is now getting the attention in the product portfolio that it deserves after the relaunch two years ago.
Panerai Luminor Perpetual Calendar GMT Platinumtech PAM01575
When we strolled by the Parmigiani stand before our official appointment, we spotted a Toric with a perpetual calendar in the display cases. It was only at second glance that we realised it was a perpetual calendar function at all. As a reminder, the Toric was relaunched last year. Parmigiani has managed to incorporate a highly complex and highly coveted function among watch collectors into this watch, which does not clutter up the dial thanks to an elegant coaxial display. The Toric Quantième Perpétuel is limited to 50 pieces in platinum (we will come back to this trend in a moment) and 50 pieces in rose gold, with a beautiful 18-carat rose gold movement with Côtes de Fleurier finishing and a grained gold dial. Quiet luxury at its best.
Parmigiani Toric Quantième Perpétuel
Frederique Constant is doing an outstanding job in this area! I can’t think of any other watch brand that offers a perpetual calendar with a manufacture movement for under €10,000. And just in time for the show, the relatively small brand from Plan-les-Ouates near Geneva presented the Classic Perpetual Calendar Manufacture with the new FC-776 calibre, which is now Frederique Constant’s 34th movement to be developed entirely in-house. The updates include a longer power reserve of three days. With a dark blue alligator leather strap, this beautiful piece costs exactly 9,995 euros.
Frederique Constant Classic Perpetual Calendar Manufacture
We have seen further perpetual calendar watches at A. Lange & Söhne, Vacheron Constantin and Patek Philippe.
IWC Ingenieur Perpetual Calendar, A. Lange & Söhne Minute Repeater Perpetual, Parmigiani Toric Quantième Perpétuel, Vacheron Constantin Traditionnelle Tourbillon Perpetual Calendar, Frederique Constant Classic Perpetual Calendar Manufacture, Patek Philippe Ref. 6159G
Material trend: Platinum
Another trend that could be seen at W&W this year is probably due to the sharp rise in the price of gold. We saw an astonishing amount of platinum, but less white gold, because the value of white gold has only known one direction lately: up. Nevertheless, the prices for platinum models are still relatively high, but there could be two reasons for this. On the one hand, platinum is much more difficult to work with than white gold, which results in more working hours and also more wear and tear. On the other hand, platinum is still considered by watch connoisseurs to be a very precious and exclusive material, for which they are willing to pay a premium.
This year, Zenith has also introduced a particularly beautiful platinum model. To mark the company’s 160th anniversary, Zenith launched a brand new collection, the G.F.J. (which stands for its founder Georges Favre-Jacot), which will gradually replace the Elite. This watch also marks the return of the legendary calibre 135, developed by Zenith watchmaker Ephraim Jobin and the source of 235 chronometry prizes in the 1950s and 1960s. The first edition with a lapis lazuli dial will be available in autumn, with a leather strap, and also with a platinum bracelet on request.
Zenith G.F.J.
A few exhibition stands further on, at the Richemont brand Cartier, platinum is of course nothing unusual, but it has now been used in a model whose historical model is not likely to have been seen too often, even by connoisseurs of the brand. The Tank à Guichets with its digital display of the jumping hour is back. First launched in 1928, it broke with watchmaking conventions of the time with its jumping, or rather dragging, hours and minutes displayed in two small windows in the case. At the time, the Tank à Guichets was released with a gold case, but today it is available in platinum, as well as other variants in rose and yellow gold. The new hand-wound calibre 9755 MC was developed especially for the new Tank à Guichets and can be wound using the crown on the top of the case.
We have also discovered further platinum models from Panerai, Rolex, Patek Philippe, Chopard, Parmigiani, Vacheron Constantin and A. Lange & Söhne.
Zenith G.F.J., Panerai Luminor Perpetual Calendar GMT Platinumtech PAM01575, Rolex Land-Dweller, Patek Philippe Calatrava 6196, Chopard Alpine Eagle 41 XP CS Platinum, Parmigiani Toric Quantième Perpétuel
Vacheron Constantin Traditionnelle Manual-Winding, Cartier Tank A Guichets, A. Lange & Söhne Minute Repeater Perpetual
Material trend: Ceramics
In recent years, almost every watch brand has experimented with titanium – the super-light material reached its peak when even Rolex introduced its first titanium watch, a Deepsea Challenge, in 2022, which would have been unthinkable for the brand ten years ago.
Now, we feel that ceramic is the material of the moment. TAG Heuer, for example, is encasing its Monaco Split-Seconds Chronograph F1 Edition in a white ceramic case. Brands like Hublot and Rado have been working with ceramic for many years and have managed to tame this extremely hard and brittle material. The challenge lies in the surface treatment, because, as already mentioned, ceramic is extremely hard and brittle and can only be worked with diamond tools. In the case of the new Monaco Split-Seconds Chronograph F1 Edition, each individual part was machined and then finished by hand, in contrast to a cast ceramic case. The ceramic contains no metal, as is often the case, which makes it even more delicate to work with. Fortunately for us, the watchmakers at TAG Heuer only had to make 10 of them – not counting wear and tear – because that’s all there are of them in the world.
TAG Heuer Monaco Split-Seconds Chronograph F1
Last week, to mark the 20th anniversary of the Big Bang, Hublot presented a special edition that combines elements of the original Big Bang and the modern Big Bang Unico in a single watch. And since Hublot presented the first models with ceramic cases 20 years ago, the material is of course also used in the special editions in all possible variations – including a limited edition of 100 pieces in red ceramic.
Hublot Big Bang Anniversary Edition Red Ceramic
Another anniversary being celebrated with ceramics is the 160th birthday of Zenith. In a trilogy – available as a set or individually – the most important lines, Chronomaster, Defy and Pilot, were wrapped in a bright blue ceramic case. For the Chronomaster and Defy, a matching ceramic strap is also available in addition to a rubber strap.
We saw further ceramic models at the Parmigiani, IWC and Panerai stands (the Luminor GMT Power Reserve Ceramica PAM01574 was, however, only launched shortly after the show).
Parmigiani Tonda PF Sport Chronograph No Date Ultra-Cermet, TAG Heuer Monaco Split-Seconds Chronograph F1, Zenith Chronomaster Anniversary Edition, Hublot Big Bang Anniversary Edition Red Ceramic, IWC Ingenieur Black Ceramic, Panerai Luminor GMT Power Reserve Ceramica PAM01574
Expensive, but all-gold
Even though the price of gold has risen rapidly recently, we were able to see a trend towards all-gold models at the trade fair. Rolex is equipping the Perpetual 1908, which will be presented in 2023, with a delicate yellow gold bracelet. The Odysseus by A. Lange & Söhne, originally launched as a sports watch, is now available in Lange honey gold, and the Cubitus is now also available in 40mm solid gold. Even IWC, which two years ago was still wrapping its Ingenieur in titanium, among other materials, has now introduced a variant made of solid 18-carat gold with a 40mm case.
Jaeger-LeCoultre Reverso Tribute Monoface Small Seconds
But one of the biggest talking pieces at the show was the new Reverso Tribute Monoface Small Seconds from Jaeger-LeCoultre, with its delightfully beautiful rose gold Milanese mesh bracelet that looks so good on the watch! The strap is made of a dense mesh of intertwined metal threads, which took no less than 16 metres to make. The lack of pins on the clasp and the delicate mesh make the watch feel incredibly soft on the wrist. A real highlight of the show.
Rolex 1908, IWC Ingenieur 40mm, JLC Reverso Tribute Monoface Small Seconds, A. Lange & Söhne Odysseus, Patek Philippe Cubitus 40 mm, Hermès Cut Nouveautes
Sellita AMT watch movements – a new trend towards in-house manufacture?
It is not uncommon for watch brands to adorn themselves with ‘manufacture movements’, which are not developed and produced in their own production facilities, but rather – sometimes exclusively – by external service providers for the brands according to their ideas. Tudor’s chronograph movement in the Black Bay Chrono, for example, comes from Breitling and is based on the B01. However, Tudor still likes to call it a manufacture movement because it has been modified according to their wishes and criteria.
Recently, more and more brands have been turning to the expertise of Sellita’s AMT department, which was opened in 2018 for the development and production of customer-specific watch movements. It is, so to speak, Sellita’s tuning department. In addition to Eberhard & Co., which has been producing movements for its premium line at AMT since the beginning and also exhibited at Watches & Wonders, TAG Heuer’s new Day-Date models now also feature a movement (TH31) developed in collaboration with AMT, instead of a standard ETA movement. This means that the watches now have an 80-hour power reserve, which is well above the industry average.
The young brand Norqain, based in Nidau, Switzerland, is also drawing on the expertise of Sellita’s high-end AMT department for its new 8K chronograph movement. And Breitling’s new and first own 3-hand movement B31 also stems from a collaboration with AMT. Breitling was not part of Watches & Wonders, but the new B31 was only recently launched and reinforces this trend.
TAG Heuer Day-Date, Norqain Independence Skeleton, Breitling Top Time B31
Spotted: Formula 1 at Watches & Wonders
Even though TAG Heuer is clearly the top dog when it comes to Formula 1, thanks to its recently concluded 10-year partnership, the other brands didn’t miss the opportunity to show their connection to racing at their exhibition stands either. In addition to TAG Heuer (sponsor of Oracle Red Bull Racing), Formula 1 was also a big topic at the Tudor (Visa Cash App Red Bull) and IWC (Mercedes-AMG Petronas) stands. IWC even exhibited the original race car that will be featured in the new film ‘F1’ starring Brad Pitt, which will be released this summer. But Formula 1 is also a big topic for many watch brands outside of Watches & Wonders. Richard Mille is a sponsor of two racing teams, Team McLaren and Ferrari. H. Moser & Cie of Alpine Motorsports and Girard-Perregaux is a sponsor of Aston Martin.
Four world records
I don’t think there have ever been as many horological world records at a watch fair as there have been this year. Vacheron Constantin presented the Solaria and its 41 complications, the most complicated wristwatch in the world, which even Ilaria Resta, the head of Audemars Piguet, carefully examined at the Vacheron stand, as could be seen in an Instagram video. ‘Can 41 complications fit into a Royal Oak case?’ was the headline. Bulgari presented the Octo Finissimo Ultra Tourbillon, its tenth world record in the last eleven years. At 1.85mm thick, it is currently the thinnest wristwatch with a tourbillon.
Weighing just 52 grams, the new Diver (Air) from Ulysse Nardin is currently the lightest mechanical diving watch in the world. The case is made of a combination of titanium and carbon fibre. And Grand Seiko presented its new Spring Drive calibre 9RB2, its most precise movement to date – and also the world’s most precise mainspring-driven movement, achieving a precision of +/- 20 seconds per year (!). That’s about +/- 3 seconds per month. Conventional mechanical watches achieve this maximum value per day. It should be mentioned that the Spring Drive mechanism is not a classic watch movement as we know it. Instead of a classic escapement mechanism, it uses a so-called sliding wheel that is controlled and braked by a quartz oscillator and an electronic circuit. Quartz and electrics at Swisswatches, you might think. In this case, yes, because the mechanism has no battery, but the quartz module is driven purely mechanically by the mainspring barrel.
Innovation
Of course, Rolex’s new Land-Dweller with the new Dynapulse escapement was the main topic of conversation, especially on the first day of the fair. With the new calibre 7135, Rolex has introduced a new friction-free escapement system that does not require the classic lever escapement. Although other watch brands have already done this, none have gone on to produce the mechanism on a large scale. In the new Dynapulse escapement, an escapement lever engages with escapement wheels that have five asymmetrically arranged, long teeth. In addition, Rolex is using silicon for the first time to minimise friction and inertia. Watch expert Jens Koch has summarised what the new Dynapulse escapement can do for us in this article.
We will be publishing a separate article in the near future covering all the other technical innovations at Watches & Wonders.
Hidden champions
Aside from the big brands, whose imposing stands made it difficult to see the bigger picture, there were a few great discoveries from smaller brands that should not go unmentioned.
Nomos Glashütte presented the Club Sport neomatik Weltzeit, a very successful world timer for €3,940, which could also potentially make our list of world records – at 9.9 millimetres in total case height, it could be the slimmest world timer on the market. The manufacture calibre DUW 3202 is only 4.8 mm thick, which is already very slim – Patek Philippe’s world time calibre 240 HU C, at 4.58 mm, is only slightly thinner. However, we are talking about a completely different price range. And at Nomos Glashütte, the customer gets the highest quality of watchmaking made in Germany for this modest price. Nomos manufactures its movements exclusively in-house and offers a production depth of around 95%. Even the escapement mechanism is made by Nomos – only the Nivarox spiral spring is supplied. The world time function of the new manufacture calibre DUW 3202 has been fully integrated into the neomatik calibre. Nomos even presented six colourful special edition models at the trade fair, each limited to 175 pieces.
Nomos Glashütte Club Sport neomatik Worldtimer
Another brand we really like is Norqain. When we met with CEO and co-founder Ben Küffer for an interview, he was wearing the new Wild One 39 in purple. Now, purple would never be my first choice, but the shade used here, which is more of a light purple-blue, as if the colour had faded a little, is so polarising that I put the watch on my wrist myself. In my opinion, they have achieved a real triumph with the new size in 39 mm. It sits perfectly on the wrist, not only because of the size of the case and the soft rubber strap, but also because the watch weighs hardly anything at 64 grams. And there is a good reason for this: the case is made of a patented material called Norteq, which is three and a half times lighter than titanium. Price point: 5,190 Swiss francs.
Norqain Wild One 39mm
We end our Watches & Wonders recap with another anniversary. The young brand Gerald Charles, which has been experiencing a new heyday under Federico Ziviani for several years, celebrates its 25th anniversary this year. As the name suggests, it was founded by design genius Gérald Charles Genta as a second brand to his main brand Gerald Genta. The new Maestro GC39 25th Anniversary Edition is a very special tribute to the brand’s founder and is inspired by the original GC39 model that Genta designed in 2005. The watch has a platinum case and a stunning dial engraving around the lapis lazuli centre, known as meta-guillochage. The creation, with the typical Maestro case, is as extraordinary as it is beautiful and a real highlight for us outside of the big watch manufactures.
Gerald Charles Maestro GC39 Anniversary Edition
