Patek Philippe Sky Moon Tourbillon Sold Online for Around PHP315M by Christie’s

Christie’s Watches Online: Top of the Time auction ended March 20 featured the sale of one of the most complicated watches on earth: Patek Philippe Sky Moon Tourbillon Ref. 6002G-001. The watch fetched a price of HKD 45,450,000 or around PHP315,000,000 (+/-USD 5.79M). The complications of the 6002G include an acoustically superb minute repeater with two ‘cathedral’ gongs, and a tourbillon. The front dial indicates the hours and minutes of standard time (mean solar time) and displays the perpetual calendar with a retrograde date, months at 3 o’clock, days of the week at 9 o’clock, leap-year indication at 12 o’clock and moon phases at 6 o’clock. The second dial displays the astronomical functions with star chart of the northern sky, hands indicating sidereal time, extremely precise moon phases showing the rising and setting orbit of the moon. The case features two crowns, the lower crown for winding and the setting of the hour and minute hands, the upper crown for setting the sidereal hands, starscape and moon’s orbit. 

Patek Philippe Ref. 5208P-001

Another Patek Philippe Grande Complication (Ref. 5208P-001) was sold for HKD 7,812,000 or around PHP 54,000,000 (+/- USD 1M). The 5208P brings together some of the all-time great horological complications; a minute repeater; a monopusher chronograph, and an instantaneous perpetual calendar displayed in apertures along an arc ; a moon phase and day and night indication. This highly sophisticated combination of functions comprises 719 parts, hand-finished throughout in accordance with the great Genevan tradition. Most importantly, reference 5208P is one of very few ultra-complicated watches fitted with a self-winding mechanism.

Gerald Genta

Other than the Pateks, a Gerald Genta was sold at a price which is much higher than the estimates. The Gerald Genta Platinum Skeletonized Minute Repeater Perpetual Calendar watch was sold for HKD 819,000 or over PHP 5,600,000 (+/- USD 100,000). As mentioned, the skeletonized watch features a minute repeater and a perpetual calendar.

Rolex Daytona Ref. 116509

For Rolex watches, there is an indication of the stabilization of prices after the big dip at the end of 2022. Two Submariners Ref. 16610LV (“Kermit”) sold for HKD 163,800 or PHP 1,135,000 (+/-USD 20,800) and HKD 189,000 or PHP 1,300,000 (+/-USD 24,000). Daytonas were also sold at healthy prices such as a Ref. 116509 at HKD 302,400 or around PHP 2,100,000 (+/- USD 38,500).

To read more about the auction, you may visit the following link:

Images and material from Christie’s.

IWC Launches Individualization Services for Portugieser Chronograph in Dubai and Shanghai

IWC is now providing an avenue for its clients to mix and match the material, dial, and strap of the Portuguese Chronograph. “Our new individualisation service enables clients to become actively involved in the design process of their watch. They can assemble their favourite version of the Portugieser Chronograph using an attractive choice of case materials, dial colours, and straps. Unlike with an online configurator, different combinations of materials and colours can be tried out directly on the wrist, turning the individualisation process into an exciting and memorable experience,” according to Christian Knoop, Chief Design Officer at IWC.

Clients can choose between a stainless steel case or an 18k gold case as the base of the watch. For dial, IWC has made available 16 colors. For the strap, there is a wide selection of calfskin and alligator leather, TimberTex and rubber straps, and a bracelet option.

Upon the final selection of the client, the watch will be put together and will be delivered to the client after approximately 3 weeks. The individualized watch is differentiated from the production watches with a small “I” in a circle, placed in the small seconds subcounter at 6 o’clock.

The individualization will initially be available at the flagship boutiques in Dubai Mall and Shanghai Taikoo Hui Mall.

IWC is available in the Philippines through its boutique in Greenbelt 5 and within Lucerne stores in Shangri-La Mall, BGC, and Solaire.

New “Jumbo” Models for the Audemars Piguet Royal Oak

Audemars Piguet (“AP”) is celebrating the 50th anniversary of its Gerald Genta designed Royal Oak. The Royal Oak was launched in 1972 and it was the first of the iconic luxury sports watches people know of today. For proper context, the Patek Philippe Nautilus and the Vacheron Constantin were released in 1976 and 1977 respectively. During the release of its first iteration back in 1972, the Royal Oak courted a bit of a controversy as it was deemed to be very different from the traditional watch designs. Further, the Royal Oak was considerably oversized during that period. This led to the watch being nicknamed “Jumbo”.

For the first 20 years of the Jumbo, there was only one self-winding extra-thin model. With the release of the new Jumbo, it will be available in 4 materials: stainless steel, yellow gold, pink gold, and platinum.


The new Self-winding Calibre 7121 measures 3.2mm in thickness and took 5 years for AP to complete. The movement was designed to fit in the extra-thin 8.1mm “Jumbo” case. Power reserve has been improved to 55 hours from 40 hours.

AP Royal Oak Jumbo in Platinum


Aesthetically, the design remains true to the Genta DNA. There have been no major alterations in the new Jumbo. It appears that the philosophy is directed in perfecting a classic model. Watch enthusiasts and collectors will be happy because there is absolutely nothing wrong with the original design of the watch.

Stainless Steel

The stainless steel model is a tribute to the original Royal Oak from 1972. The dial retains the iconic Petite Tapisserie pattern and the Bleu Nuit, Nuage 50 color. The model also retains the hour-markers and hands of the original. However, one major difference is that the new model has a sapphire caseback to display the movement with the anniversary oscillating weight.

(L-R) Stainless Steel, 18K Yellow Gold, Platinum, 18k Pink Gold

Other Models

Aside from the classic stainless steel, the new Jumbo is also available in yellow gold, pink gold, and platinum. The gold models largely retain their previous designs. As for the platinum, it will be paired with a smoked green dial with a base which is decorated with a sunburst pattern. This design was selected as the best “iconic” timepiece during Geneva’s 2021 Grand Prix d’Horologerie.

Watch Specifications

Diameter: 39mm

Material: Stainless Steel, 18K Yellow Gold, 18K Pink Gold, or Platinum

Functions: Hours, minutes, and date.

Case: Glareproofed sapphire crystal and caseback, water-resistant to 50m.

Dial: Bleu Nuit, Nuage 50 with Petite Tapisserie (Steel), Smoked grey dial with Petite Tapisserie (18K Pink Gold), Smoked yellow gold toned dial with Petite Tapisserie (18K Yellow Gold), Smoked green with sunburst base (Platinum)


Self-winding Calibre 7121

Diameter- 29.6mm

Thickness- 3.2mm

Jewels- 33

Parts- 268

Min. Power Reserve- 55 hours.

Frequency of Balance Wheel- 4Hz (28,800 vibrations/hr)

For more information, you may visit

PART 2: Most Notable Watches Auctioned in November 2021

Click here for Part 1 of this Article.

In this two-part article, Watch Manila highlights some of the notable watches auctioned off in November 2021. While the Patek Philippe x Tiffany & Co. Nautilus dominated the headlines in the last few weeks, it is important to note that watch afficionados still appreciate the watchmaking landscape beyond any hype.

Here are some of the other watches which have achieved success during the Geneva auctions last month:

9. Rolex Daytona in Platinum 

Auction House: Christie’s

Estimated Price: CHF70,000-170,000 (P3.8M-9.2M)

Price Sold: CHF200,000 (P10.09M)

Clearly, the fan favorite for the Daytona is the stainless steel variation with a “panda” dial. But Watch Manila notes that the prices of platinum Rolex watches have started to increase dramatically. There is an increased demand for this precious metal. The Rolex quality combined with the rarity of platinum has propelled this watch’s price above the estimates.

10. Rolex Day-Date “Rainbow” Ref. 18058

Auction House: Phillips

Estimated Price: CHF150,000-300,000 (P8.2M-16.4M)

Price Sold: CHF792,300 (P43.3M)

In today’s watch market, the “Rainbow” Daytona is very much sought after. Around 30 years before the Rainbow Daytona, Rolex released a possibly unique piece with “rainbow” colored precious stones on the bezel for a Day-Date. This “Rainbow” Day-Date is perhaps one of Rolex’ first rainbow inspired watches.

11. Rolex Oysterquartz Day-Date Perpetual Calendar

Auction House: Christie’s

Estimated Price: CHF100,000-200,000 (P5.4M-10.8M)

Price Sold: CHF250,000 (Almost P13.6M)

There are approximately 11 pieces made of this prototype Rolex. This Rolex Day-Date Oysterquartz does not appear visually different from the other Oysterquartz. However, an inspection of the movement reveals a more complex mechanism. Rolex tried to make a perpetual calendar which can be operated through the same crown used to adjust the time. This watch is incredible as it is one of the prototypes wherein the movement is fully functional.

12. Rolex Deepsea Special

Auction House: Christie’s

Estimated Price: CHF2,000,000-4,000,000 (P109M-218M)

Price Sold: CHF1,890,000 (Almost P103M)

Unlike other watches in our list wherein the sale price exceeded the estimate, this one was slight below. However, it is worth taking a look at. Both Phillips and Christie’s offered Deep Sea Specials for the November auctions, However, the one being offered by Phillips is a commemorative edition made for the displays of the Rolex boutiques. This one offered by Christie’s was said to be used in the dive by Jacques Piccard’s bathyscaphe “Trieste” to 3,700 meters.

As Christie’s put it “This extraordinary watch can be considered as the most important Rolex diver’s watch to remain in private hands and without doubt one of the most desirable Rolex watches in the world.” 

There are only 7 known pieces of the Deep Sea Special. This piece is No.1. 

13. Philippe Dufour Grande and Petite Sonnerie 

Auction House: Phillips

Estimated Price: CHF1,000,000-2,000,000 (P54.5M-109M)

Price Sold: CHF4,749,000 (Almost P258.9M)

Philippe Dufour has clearly emerged as a leading independent watch maker. Its creations are sought after as the brand has demonstrated a near-perfection in crafting watches. The appeal of this watch is due to the fact that it is the first Philippe Dufour watch and the world’s first Grande & Petite Sonnerie wristwatch ever made.

Last time, Watch Manila featured another Philippe Dufour watch called “Simplicity” as it has no major complications. Despite the absence of complications, the Simplicity managed to do incredible as well in the auction.

14. F.P. Journe Chronometre a Resonance  “Souscription”

Auction House: Phillips

Estimated Price: CHF200,000-400,000 (P10.9M-21.8M)

Price Sold: CHF3,902,000 (Almost P212.7M)

F.P. Journe is one of the most recognized independent watchmakers in recent times. The watch shown here features resonating escapements and is the first out of a limited run of 20 pieces. The watch features a combination of platinum and pink gold case. It has been said that the Resonance of F.P. Journe was most likely inspired by A.L. Breguet.

15. Omega Speedmaster Broadarrow

Auction House: Phillips

Estimated Price: CHF80,000-120,000 (P4.3M-6.5M)

Price Sold: CHF3,115,500 (Almost P170M)

This is the most expensive Omega sold at an auction ever. This Omega carried the reference 2915-1 which makes it part of one of the first production runs of the historic Speedmaster. The dial features a tropical color which has aged. As a note, none of the preview ads of the auction even mentioned this lot. Most of the people were surprised at the result of this lot.

16. Richard Mille RM27-04 Rafael Nadal

Auction House: Phillips

Estimated Price: CHF800,000-1,600,000 (P43M-87M)

Price Sold: CHF1,663,500 (P90.7M)

Richard Mille continues to be polarizing. Nevertheless, it has established itself as a strong brand in terms of value. This RM027-04 was built to withstand the shocks during professional tennis matches of up to 12,000 Gs. And yes, it has a tourbillon. 

To visit part 1 of this article, click here.

Images are courtesy of the auction houses: Antiquorum, Christie’s, Phillips, and Sotheby’s.

Most Notable Watches Auctioned in November 2021

Last month, major global auction houses Antiquorum, Christie’s, Phillips, and Sotheby’s held watch auctions which saw notable movements within the watch industry. Records were broken and trends emerged. Watch Manila breaks down some of the notable pieces sold in this two-part special.

Clearly, Rolex still emerged as the strongest brand in the auction month. Patek Philippe and Audemars Piguet also continued to deliver solid numbers. Aside from the said brands, it can be observed that there are winners across the board. Cartier, Omega, and Vacheron Constantin are some of the other winners. The watch market continues to display strength despite the pandemic.

Let’s look into some of the interesting watches sold during the November auctions. 

  1. Cartier Crash

Auction House: Sotheby’s

Estimated Price: CHF200,000-300,000 (P10.9M-16.4M)

Price Sold: CHF806,500 (P44.1M)

The Crash has been produced by Cartier sporadically and in limited numbers. This said model was one of the first ones ever produced. There is a rumor that says that the design of the Crash was brought about by a damaged and melted Cartier Baignoire from a crash. The watch was recently brought to the spotlight by Jay-Z and Kanye West.

2. Vacheron Constantin Ref. 222

Auction House: Christie’s

Estimated Price: CHF20,000-40,000 (P1.09M-2.18M)

Price Sold: CHF93,750 (P5.12M)

The Vacheron Constantin Ref. 222 is the ancestor of the Overseas. The 222 was released in 1977 to commemorate Vacheron’s 222nd anniversary. This watch and the Overseas have long been overlooked by collectors. In the 2010s, watch collectors became obsessed with the stainless steel-unibody watches especially from Patek Philippe (Nautilus) and Audemars Piguet (Royal Oak). As supply of Patek and AP became difficult, collectors started to realize the true value and beauty of Vacheron Constantin. With more people collecting the Overseas, the demand for the 222 has also increased. Watch Manila was one of the publications which recognized that the Overseas was a hidden treasure in the watch world.

3. Vacheron Constantin Ref. 4261 Minute Repeater

Auction House: Antiquorum

Estimated Price: CHF100,000-200,000 (P5.4M-10.9M)

Price Sold: CHF287,500 (P15.7M)

Watch Manila has observed that the watch industry in the 2010s has been dominated by a shift towards simple watches in stainless steel. With the demand heavy on the said watch class, the demand for fine watches with complications dropped. Watch Manila believes that as more collectors mature and get over the hype stage, the same crowd will start to go for undervalued fine timepieces. This Vacheron Constantin Minute Repeater in gold is a watch which could symbolize the potential up and coming resurgence of fine timepieces with complications.

4. Rolex Daytona “John Player Special Paul Newman” Ref. 6264

Auction House: Sotheby’s

Estimated Price: CHF800,000-1,200,000 (P43.7M-65.6M)

Price Sold: CHF891,200 (P48.7M)

The Rolex Daytona “John Player Special” label originated from the 1970s when John Player & Sons sponsored the Lotus F1 team. According to collectors, the JPS Daytonas are reminiscent of the design of John Player & Sons. Sotheby’s noted that most of the Ref. 6264 Daytonas were made in stainless steel. There are approximately only ten known pieces in yellow gold. From the ten, there are even fewer Daytonas fitted with the JPS dial. 

5. Rolex Daytona “John Player Special Paul Newman” Ref. 6241

Auction House: Phillips

Estimated Price: HKD4,650,000-9,400,000 (P30.1M-60.8M)

Price Sold: HKD13,560,000 (P87.8M)

In addition to the details mentioned in the previous item, it is worth noting that this is the third most expensive Rolex Daytona sold in auction. With many people being fascinated with Paul Newman Daytonas, collectors are zeroing in on John Player Specials since they are rare as well.

6. Rolex Day-Date in Stainless Steel 

Auction House: Phillips

Estimated Price: CHF50,000-100,000 (P2.7M-5.4M)

Price Sold: CHF113,400 (P6.2M)

When the Day-Date was launched in 1956, it became the ultimate Rolex watch. The Day-Date was only available in precious metals: gold and platinum. This notwithstanding, the watch sold at the recent Phillips auction was one of a few Day-Date prototypes produced by Rolex in stainless steel.

7. Steel Rolex GMTs

a.) Rolex GMT-Master II “Pepsi” Ref. 126710BLRO

Auction House: Christie’s

Estimated Price: CHF12,000-18,000 (P656k-984k)

Price Sold: CHF25,000 (P1.36M)

b.) Rolex GMT-Master II “Batgirl” Ref. 126710BLNR

Auction House: Christie’s

Estimated Price: CHF12,000-18,000 (P656k-1.094M)

Price Sold: CHF27,500 (P1.5M)

These watches do not need an introduction. The two watches are two of the hottest Rolexes in the market. In their current iteration, they retail for around P517,500. But it is almost impossible to pick one up at your authorized dealer. What’s important to note is that these watches still have strong demands as they both sold for more than double their retail price. The hunt for the steel Rolex watches continues to be tough.

8. Philippe Dufour Simplicity

Auction House: Phillips

Estimated Price: CHF250,000-500,000 (P13.6M-27.3M)

Price Sold: CHF792,300 (P41.3M)

Philippe Dufour is one of the most sought-after independent watch brands. Its pieces command high prices due to the limited production and due to the high quality of watchmaking. The watch which was recently sold doesn’t feature any major complication and doesn’t even feature a date. However, this watch is an example of how Philippe Dufour perfected the “simple” watch. What is amazing is that the winning bidder paid a mind-blowing P41.3M for the said watch.

Stay tuned for part 2 of the notable watches in the recently concluded November auctions.

Images are courtesy of the auction houses: Antiquorum, Christie’s, Phillips, and Sotheby’s.

Panerai Releases Two New Watches

Panerai has released two new watches in the Chrono Complicazioni segment, a watch family characterized by a combination of high-tech materials, complex calibers, and small quantities. The two new watches will both be limited.


The first watch is the Luminor Chrono Flyback Ceramica (PAM 01298). It will have a run of 500 pieces. The Flyback Ceramica features a 44mm black ceramic case. The watch is lightweight and highly scratch resistant. It is powered by an automatic movement with a power reserve of up to three days. The watch is paired with a black alligator strap.


The next watch is the Luminor Chrono Flyback Verde Militare (PAM 01296). This watch will be exclusively sold through e-commerce on The Verde Militare will be limited to 110 pieces only. The 44mm watch is made from stainless steel. It runs on the same P.9100 calibre as the Flyback Ceramica which features an automatic movement with a three day power reserve. The strap is an alligator military green leather.

Both watches have the flyback function and a nautical tachymeter scale present on their dials.

Watch You Wearing: Gerry “Mr. Freeze” Santos

“Success is not about money. Success is what you have done and accomplished.” These are the words Gerry Santos lives by. The founder and CEO of the highly successful Mr. Freeze Tube Ice Inc., Gerry has never equated success with financial gain. For him, it’s all about community building, helping out, and pursuing one’s passion. Money, he says, will come naturally.

Gerry was not born with the proverbial silver spoon in his mouth. He worked for his father, an ice distributor, while studying in college and right after graduation. After several years working for his dad’s business, the younger Santos resigned and decided to put up GJS Cars, an automotive buy and sell business. Cars were a passion for Gerry, and he was able to grow his business to a considerable degree. 

After a while, he took a look back at his father’s business and saw that it’s gone stagnant. He saw this as an opportunity to go back to the ice biz. This time, however, in order to assure growth in the industry, he came back as an ice manufacturer. Armed with some capital saved from his automotive business and with a bank loan, he put up the first Mr. Freeze ice plant in 2005. The rest, as they say, is history.

One can assume having several ice plants is the most impressive aspect about Mr. Freeze. But looking beyond the business side, the most impressive thing is Gerry’s effort to involve and grow entire communities surrounding his ice plants. For him, the growth of the business won’t mean a lot if the community around it will not feel the positive effects of the plants. 

Gerry seeks to uplift the quality of living around the areas of his ice plants through partnerships, creation of jobs, and through projects. The man truly is passionate not just with his business but with the positive impact it creates with the people he partners with.

Outside of his passion for work, Gerry is well known for his passion for cars. But what many are not aware of is that Gerry also loves to collect watches—which he feels are just apt for his lifestyle. The watches are his companions and are witnesses to his community-building. The watches—and cars—are also constant reminders for him that hard work and selflessness pay off big time.

Gerry was kind enough to allow Watch Manila a peek into his watch collection.

Gerry’s first watch is similar to this Rolex Datejust.

Similar to construction magnate Alice Eduardo and numerous others, Gerry’s first substantial watch was a Rolex Datejust in stainless steel and yellow gold. The Datejust is the most popular Rolex within the business community, especially prior to the 2010s. Not long after, Gerry purchased a steel Rolex Datejust in white face.

Gerry’s Rolex Submariner.

As Gerry started to get deep into watches, he explored more models from Rolex other than the Datejust. Gerry purchased a Rolex Submariner with reference number 14060. This watch is a famous diving tool for professionals and was also known as the watch of James Bond.

Gerry’s GMT-Master II Watches.

Aside from the Submariner, Gerry has two Rolex GMT-Masters. He has the models with the black and blue bezel and the golden brown and black bezel, respectively known in the watch collecting community as the “Batman” and the “Rootbeer”. Gerry loves the Batman as it has a relation to the character of “Mr. Freeze”. The Batman also has the subtle design elements which are most associated with the brand. The GMT-Master was developed initially for Pan-Am Airlines pilots who needed watches which could show the time in two different timezones simultaneously.

Gerry’s Rolex Daytona.

Gerry also keeps in his collection one of the most sought-after watches today, the Rolex Daytona with the ceramic bezel. The version which Gerry has is called the “Panda”—due to the contrast of the black and the white which makes it resemble the colorway of a panda. This is the latest iteration of the classic Rolex Daytona. This model has a waitlist time of over several years with authorized dealers. The watch is popular on the racing circuits as it has the ability to track lap times.

Gerry’s Omega Seamaster.

Apart from Rolex, Gerry collects from other brands. One of his more memorable watches is his Omega Seamaster Aqua Terra. He vividly remembers that during one of the golf tournaments he joined, the second prize for the raffle was the Omega and he whispered to himself that he would win it. As luck and fate would have it, his name was called as the winner of the Omega. He considers this as one of his lucky watches.

Gerry’s Hublot Big Bang Ferrari.

Gerry also has a Hublot Big Bang Ferrari which is limited to 1,000 pieces. He loves the design of the watch and always pairs it with the appropriate car in his stable. The watch looks very sporty and is made of ceramic and titanium.

The watches in Gerry’s collection are reminders of his life’s most valuable lessons. Here they are: 

1. Be content.

One of the keys to happiness is to appreciate what you have in life rather than than what you have yet to possess. There will always be people who will have more than you and less than you. Gerry is never pressured to buy a watch simply because “the other guy has it.” He buys a watch when he likes it. He understands there will be people with nicer watches than he does,  and that’s totally fine. Gerry is happy with his collection and happy for the collection of others. For him, turn any envy into a motivation to achieve what one wants. One day, with hard work, you will be able to reach your goals as well.

2. Learn how to enjoy the fruits of your labor.

Gerry believes that the success you’re experiencing is because of your hardwork. Learn how to enjoy the benefits which come with the success. Gerry is a firm believer that having money doesn’t mean you have to live large. But he also believes that, occasionally, you should spend some of your hard-earned money on things which you are passionate about. For him, he loves spending on cars and watches, among others.

3. Give back.

Everyone regards Gerry as a very generous person. The guy believes that those who are truly blessed are those who share the most. For him, financial success is meant to be shared and not kept to oneself. No matter how big or small, when you share, it goes back to you a hundredfold.  

4. Treat everyone with respect regardless of their status in life.

Gerry believes the world has been so kind to him because he’s treated everyone with high respect. His success has never made him arrogant. For this businessman, everyone plays an important role in society, regardless of your occupation or status in life.

Unlike the Mr. Freeze in Batman who was a villain, this Mr. Freeze, Gerry Santos, is a hero in the communities he builds. He’s gone beyond business in order to make an impact in society. Going further, he has already involved his children in Mr. Freeze to instill in them the importance of giving back to society. Now that’s one truly timeless legacy one can pass on to the next generation.

A version of this story was published by ABS-CBN.

Interview: Panerai’s Alessandro Ficarelli On Sustainable Watches, COVID-19, and Panerai’s Future

Watch Manila had a chance to get the thoughts of Alessandro Ficarelli, Panerai’s Product Director, on what’s ahead for Panerai.

Recently, Panerai has gone to a direction which only a handful of watch brands went: the direction of sustainability. In the 2021 Watches and Wonders (W&W), Panerai unveiled watches which were largely made up from recycled and eco-friendly materials. Along with that, Panerai has continued to churn out innovations which make their watches more accurate.

Here’s the full interview with Mr. Ficarelli:

How has Panerai coped with the COVID-19 pandemic?

Alessandro Ficarelli: The pandemic really took us by surprise because, even though we were aware of what was happening in China, we never imagined that it would arrive so quickly in the rest of the world. The first priority was to ensure that our organisation was safe. There have been cases of COVID-19 in all the places where we have a presence. Initially, it was a nightmare to handle because there were different regulations and protocols on lockdowns and partial lockdowns in different countries and cities. The goal was to maintain business continuity, despite warehouses being closed.

Panerai Boutique in the Philippines.

How important is Philippines as a market for Panerai? 

AF: Philippines, which is part of the Southeast Asia Oceania region, plays an important role for us, not strictly in terms of sales, but mainly for the general interest shown in Panerai by the local press.

Our clients in the Philippines are very active, we are proud of the community that was born there and we will keep boosting it.

Can you share with us how the digital landscape is evolving in relation to the watch industry and business?

The watchmaking industry has always been very traditional and linked to the past, but due to COVID-19 all the brands had to reshape their strategy and think about future customers’ needs. Social media represents an important touchpoint for us and during the previous months we organized several IG Live in order to keep alive our relationship with the audience, but at the same time we decided to organize also e-commerce exclusive watch launches.

PamCast- Panerai’s digital program to keep in touch with clients.

How important is your online presence both through your website and social media, and through the online media? 

AF: Online channels played an important role during the past two years, as they allowed us to stay in touch with our customers and to keep the dialogue running. In order to do this, we launched PamCast, a digital program that represents a journey through Panerai’s fascinating history to curated travel guides to the world’s most inspiring places. Of course, has been very important for us, as it was the only sale channel and this forced us to invest more energy on it.

You’ve had a big year this 2021 especially with your releases in Watches and Wonders. Can you walk us through the biggest highlights from Panerai?

Despite the negative aspects of the pandemic, we are really proud of 2021. During W&W, we decided to broaden our chronograph product line, reaffirming Panerai’s role in the sphere of chronography and providing the right timepiece to ensure a long-lasting accuracy in every moment of life. The introduction of the Piccolo Due corresponds to a versatile and eclectic expression of Italian taste, enhancing its emblematic identity through an unusual interpretation tinged with a charge of unexpected femininity. Another milestone is then represented by the Submersible eLAB-ID, a rule-breaking masterpiece in Panerai history, which emphasizes the deep concern of Panerai towards the status of global environmental crisis, as well as the Luminor Marina eSteel. Last but not least, the Submersible Bronzo Blu Abisso, a key element in Panerai’s history.

One of the biggest introductions of Panerai this year was its usage of recycled materials (up to 98.6%) for 1 model. Can you tell us more about this path of Panerai to promote the eco- friendly approach of watchmaking?

AF: To co-create this model, Panerai has partnered with 10 suppliers coming from different industries, all eager to work toward creating a more sustainable future based on a circular use of natural resources. The main difficulties came up because some suppliers never worked with a watch brand before and we all wanted to find out the best and most suitable materials, which are also durable and appropriate for a watch.

Will the eco-friendly approach of watchmaking find its way to all models or will it be for select releases only?

: Panerai’s goal is to have more sustainable products, reaching 30% of the models made of sustainable materials by 2025.In the next years, we will keep working with our R&D team and will constantly implement our product line with recycled or upcycled elements.

How are the preferences of people in Southeast Asia different or similar from those in Europe, US, and other markets?

All the markets are very different from each other. Usually our Asian customers look for smaller cases and are highly interested in having watches with precious materials, such as GoldtechTM, while in the US people buy sporty and bulky timepieces.

Panerai Piccolo Due PAM 1280

Panerai initially has appealed to a more masculine population. We’ve also seen the introduction of the 38mm Piccolo Due. Do you plan to expand your offerings which are a bit more inclined to the female population? Is Panerai exploring smaller sizes?

AF: During W&W 2021, Panerai introduced the Piccolo Due line, known for its 38mm case, and it has been positively welcomed by our female customers. At the moment, our goal is to broaden the Piccolo Due collection with new features and elements, and not to create a smaller line, but we will see in the future.

Has the watch industry recovered from the effects of COVID- 19?

AF: The effects of Covid-19 are slowly disappearing, but it will take more time to go back to our old habits. In the past two years, the watch industry, as all the others, learned to cope with this situation and slightly changed its attitude, giving more importance to online channels.

How do you think the watch industry will look like once the COVID-19 restrictions have been lowered?

: The pandemic forced us to question ourselves, taking on new issues. For many brands product and supply chain sustainability will be more important, introducing recycled or upcycled products or components in their collections. At the same time, all the brands can’t wait to start organizing physical and live events, interacting with their customers, so some aspects won’t change that much.

What can we expect from your brand in 2022 and in the future? 

AF: 2022 will be an important year for Panerai, as we will open new boutiques with a brand-new concept and design. This will be then followed by the organization of Panerai Experiences, which will be at the core of our strategy for the next year.

You may visit Panerai at their boutique in Greenbelt 5, Ayala Center, Makati City, Philippines. You may get in touch with them at +(63)277290392

Alessandro Ficarelli has been the Product Director for Panerai since 2011.

The interview has slightly been condensed and reorganized.

Patek Philippe Releases Three New Chronographs

Patek Philippe has already had quite a year. It seems as though they are not yet finished. Earlier in the year, we witnessed the discontinuation of the sought-after Nautilus 5711 with blue dial and the introduction of the new Nautilus 5711 with green dial. The latter performed exceptionally well in auction as it sold for EUR 416,000. Aside from the 5711, Patek has introduced several new variants in many of its model lines including the Aquanaut, Calatrava, Twenty-4, and Grand Complications.

In the new releases for Patek, there are two noteworthy matters, among others: the introduction of another watch in stainless steel bracelet and the doubling down on the “Green” theme.

Ref. 5905/1A-001

The new 5905 boasts of a flyback chronograph and an annual calendar, which means you only have to make one correction on the date per year (on March 1). This watch features an integrated stainless steel bracelet and a sunburst olive green dial. The watch measures 42mm in diameter and has a self-winding mechanism with a power reserve of up to 55 hours. The SRP for the watch is P3,000,000.

Ref. 5204/R

The new 5204 is a grand complication watch which packs with it a split-seconds chronograph and a perpetual calendar. Aside from the two highlights, the watch features a moon phase indicator, a leap year indicator, day and date, and small seconds. The case size is 40mm and is made of 18k rose gold. The watch features a manual winding mechanism with a power reserve of up to 65 hours. The SRP for the watch is P15,720,000.

Ref. 5930/P

The new 5930 is a beautiful world time watch in platinum and in green. Aside from the world time, the watch features a flyback chronograph. The case of the watch measures 39.5mm. Previously, the 5930 was available in white gold and in blue accents. The SRP of the watch is P5,100,000.

Rolex issues statement on the scarcity of its watches

Rolex is known to be a very private company. It rarely issues statements in response to certain issues. However, Rolex issued a statement recently in response to Yahoo Finance’s article “Why the Rolex watch shortage is a ‘perfect storm'”. Essentially, the issue involved is why it is very hard to get a Rolex watch from your authorized dealer these days.

Rolex pushed back on the rumors that the company is controlling the production numbers in order for the demand to grow and for the aftermarket prices to increase.

The following is the full text of Rolex’ statement:

“The scarcity of our products is not a strategy on our part. Our current production cannot meet the existing demand in an exhaustive way, at least not without reducing the quality of our watches – something we refuse to do as the quality of our products must never be compromised. This level of excellence requires time, and as we have always done, we will continue to take the necessary time to ensure that all our watches not only comply with our standards of excellence, but also meet the expectations of our customers in terms of quality, reliability and robustness. Rolex does not compromise on what it takes to produce exceptional watches.

All Rolex watches are developed and produced in-house at our four sites in Switzerland. They are assembled by hand, with extreme care, to meet the brand’s unique and high-quality standards of quality, performance and aesthetics. Understandably, this naturally restricts our production capacities – which we continue to increase as much as possible and always according to our quality criteria.

Finally, it should be noted that Rolex watches are available exclusively from official retailers, who independently manage the allocation of watches to customers.”

—end of statement—

Based from the statement of Rolex, it appears that the scarcity of the watches is due to the high demand and due to the limitations on the current production of Rolex. Further, Rolex emphasized that each watch is made with the highest quality in mind. As such, if they increase production haphazardly, quality might suffer. As a final note, Rolex took a shade against the gray market as it reiterated that the availability of their watches are only with the official retailers.

Many people have grown frustrated over the difficulty to get certain Rolex models at authorized dealers. This situation has opened the floodgates for non authorized dealers to price Rolex models at sky high prices.

It is still to be seen how long certain Rolex models will remain difficult to get at authorized dealers.