Impressions from the Watches and Wonders exhibition are best served cold.
To turn impressions into organized thoughts, it's essential to take a break from the exhibition. Six days should suffice. So, what impression did the world's largest watch exhibition leave on me? Reviewing my notes, I arrived at this narrative, which includes several hot and cold watches I saw during what was ultimately a warm Watches and Wonders 2024.
So, here's what happened when the Watches and Wonders 2024 exhibition opened its doors on Tuesday, April 9, at 8:30 AM: everyone with something to publish - the exhibition gathered 49,000 visitors, including 1,500 media representatives - rushed to Rolex, Patek Philippe, and Tudor, brands that do not issue press releases ahead of the exhibition. Within minutes, the eagerly awaited new releases from these three brands appeared online, and the dust settled.
Reflecting on the Watches and Wonders 2024: Did the "Big Three" meet expectations?
The fact that Tudor entered the top three is impressive. The release of the Black Bay model in 2012 marked the start of the brand's remarkable rise. Before 2012, no one bothered to glance at the Tudor stand, which was located next to its older sister Rolex's stand. By 2024, Tudor has been the proud owner of a separate stand for four years, and after Rolex, it is the next brand people want to see as soon as Palexpo opens its doors.
During Baselworld, Rolex and Patek Philippe were the "big two" of the exhibition. When these two powerhouses moved to Geneva and joined the fair, once created by Richemont and several partners, they immediately became the main attraction. But now, this dynamic duo no longer rules the roost.
Tudor has risen to the top, and it can now be confidently said that the shield-bearing brand is part of the power trio. And it seems that the newcomer Tudor has actually become the second brand in line; right after checking out Rolex, Tudor climbs up, followed by Patek. Did the "power trio" deliver?
Starting with Rolex
Rolex never fails to intrigue. Allow me to explain. Ahead of the Watches and Wonders exhibition, Rolex forecasts and wishes circulate widely. Many wanted a "Coke" GMT-Master II. Others, like me, hoped for a titanium Milgauss, and a possible return of the Turn-O-Graph was also discussed. Rolex delivered none of this.
Instead, we received nothing new; the novelties were merely iterations of existing models. Was this done to calm the market? Rolex CEO Jean-Frederic Dufour, who is also the president of the Watches and Wonders Foundation, noted at the start of the exhibition that due to the strong Swiss franc, rising gold prices, and uncertain geopolitical situation, the watch market had lost momentum and cooled significantly.
Dufour also has something to say about how people perceive watches, mainly Rolex watches. "I don't like it when people compare watches to stocks," he said. "This sends the wrong signal and is dangerous. We produce products, not investments." And in this light, the release of nothing new makes sense. For example, the Perpetual 1908 in platinum and the Deepsea in yellow gold were presented - both very niche options.
We also received a steel GMT-Master II model (126710GRNR) with a gray-black bezel (which debuted last year on fully gold and steel/gold versions) and a model name and GMT hand in green. No, there was no crowd-pleasing "Coke" or even such a strange iteration as the green-black lefty of 2021.
In my humble opinion, Rolex's releases were reminiscent of the depressed main character in the 2003 film "The Cooler", a guy with gloomy premonitions hired by a Las Vegas casino to jinx players on a winning streak.
Heading to Tudor
After Rolex, it was just a small step to the neighboring brand Tudor - I would have preferred to look at Patek, but the crowd pushed me down a step. Unlike Rolex, Tudor served up a "Coke" this year. It's the brand new Black Bay 58 GMT, which also uses an all-new METAS-certified and Kenissi-made automatic GMT caliber MT5450-U, which is thinner than the one in the Black Bay Pro.
The Black Bay 58 GMT model, measuring 39 × 12.8 mm, has all the attributes that make a watch commercially successful. The "Coke" coloring combined with gold plating looks familiar, and the size and price align - the rubber version costs €4,450, and the bracelet version will cost you €4,670.
The watches are not revolutionary, but after the 2012 revolution with the Black Bay, Tudor has entered an evolutionary phase. I think this phase can last for many, many years.
Speaking of evolution, it's worth mentioning the new Black Bay model, which has passed METAS certification. Last year, this 41-millimeter chronometer diver debuted with a burgundy bezel and gold-tone details, and this year it became the best alternative to the Rolex "Sub". The cost of Tudor on an Oyster-style bracelet with faux rivets is €4,510. The watch you want but can't have for various reasons - the 41-millimeter Submariner (124060) - will cost you €9,500.
Will half the price bring you half the joy of a genuine Sub, or will the new Black Bay Master Chronometer be able to surpass its capabilities and deliver a knockout punch that makes you forget about Rolex entirely? I think the answer to this question is very individual. I don't think the new "BB" will hit me hard enough to forget about the Sub, but I guess I'm in the minority.
Denim: Cool or Lazy? - Patek Philippe dresses up for Watches and Wonders
You're right, in my introductory article on the Patek Philippe World Time Date 5330G and Nautilus Chronograph 5980G, I spoke positively about the double denim duo the brand presented at the exhibition. I still believe that the World Time Date 5330G looks fantastic, and the denim-colored leather strap suits them perfectly.
However, the Nautilus, with its more intricate case and strap connection, as well as its more prominent shape and size, doesn't work as well.
But most interestingly, both of the aforementioned models already existed with different dials or from different materials.
The World Time Date 5330G debuted with a purple dial as a special Tokyo edition, and the Aquanaut Travel Time 5164 already existed in rose gold.
Additionally, the perpetual calendar 5236P was already released in 2021 with a blue dial. Of course, it received a new (and stunning) vintage-style dial with opal pink gilding, but that was it.
The novelty was the bracelet for the Golden Ellipse ref. 5738/1R-001. It's a fully polished rose gold chain bracelet, consisting of 363 elements and over 300 links, assembled by hand. Well, 2024 is clearly going to be the year of the strap and bracelet for Patek.
What Else is New? Complications!
IWC updated the Portugieser 7 Days model. The brand made subtle changes to the finesse and design details, resulting in a more refined watch. The update is evolution at its finest.
The biggest shock was the name change. The 7 Days model is now called Automatic 42. Why? According to an IWC representative after the product presentation at the brand's stand, it's because there is also a 40-millimeter Portugieser with an automatic movement, and it's called Portugieser Automatic 40. To me, this is a typical case where the strong suffer from the weak.
IWC did not want to name the less expensive 40-millimeter version Portugieser 2.5 Days and instead chose Automatic 40. In 2024, IWC wants to streamline the naming of its models, and for the sake of uniformity, the brand got rid of the most iconic name in the Portugieser collection. Well, that's a pity.
On the other hand, the Portugieser Perpetual Calendar became one of the main events of the Watches and Wonders exhibition - please read RJ's hot take and explanation of how these watches work. These calendar watches will keep accurate time for an impressive number of years, embodying the spirit of traditional high watchmaking.
The newly introduced Duometre collection from Jaeger-LeCoultre also highlights high watchmaking - there wasn't a single colorful Reverso model, can you believe it?
The brand's first three-axis tourbillon is impressive, but the Heliotourbillon Perpetual, priced at €484,000, as mesmerizing as it is, is not as beautiful as the entry-level Duometre Quantieme Lunaire for €48,400 with a steel case and a shimmering blue dial. The platinum Duometre Chronograph Moon, priced at €97,000, also looked respectable.
Conversation Dominance
Last year at the Watches and Wonders exhibition, discussions were about the Rolex models with balls and puzzles, the titanium Yacht-Master 42, and the miniature Tudor Black Bay 54. In other words, there was nothing too complicated. This year, there was less talk about mainstream, unserious watch novelties.
But no one could ignore the A. Lange & Söhne Datograph Perpetual Tourbillon Honeygold “Lumen” model, which marked the 25th anniversary of the Datograph. Firstly, the stand of the brand from Glashütte featured a huge watch model, and the price of €620,000 also caused a stir at the exhibition.
Piaget introduced the world's thinnest tourbillon, and Vacheron Constantin introduced the most complicated (pocket) watch ever created. The brand broke its own world record by presenting a grapefruit-sized creation with 63 complications, including a Chinese perpetual calendar, which VC claims is the first in the world.
This is what 2,877 hand-finished and hand-assembled components can achieve. Hermès also surprised friends and foes with the Arceau Duc Attelé model - a three-axis central tourbillon and minute repeater with an equestrian touch.
Closing Words by Jean-Frederic Dufour on a Leisurely Watches and Wonders 2024
Looking back, we see that this year at the Watches and Wonders exhibition was not so crowded, and we can look to the future, hoping that in 2025, things will become even warmer. But what will 2024 bring to the watch world?
Perhaps it's best to pass the microphone back to Rolex CEO Dufour.
“2024 will be a challenging year. It marks the end of a stage where all manufacturers were doing well. In good times, production tends to be too great. When markets weaken, as they are now, retailers are forced to lower prices. This is extremely problematic because discounts harm emotional products like ours,” he said in an interview with the Swiss newspaper Neue Zürcher Zeitung.
And what do you think? Do you agree that discounts spoil the image of watches? Or are you glad that (old-fashioned) discounts are finally returning after a period of unavailability and rising gray market prices? As always, share your opinions in our Telegram channel.